BTC/USD trades near the June high ($31410) ahead of a major US holiday, but the recent advance in Bitcoin has failed to push the Relative Strength Index (RSI) into overbought territory.
BTC/USD Outlook
BTC/USD consolidates after registering a fresh yearly high during the previous month, with a break above the June high ($31410) opening up the $33770 (78.6%...
A bull-flag appears to be unfolding in GBP/USD as it clears the June high (1.2848), with the four-day rally in the exchange rate pushing the Relative Strength Index (RSI) towards overbought territory.
GBP/USD Rate Outlook
GBP/USD registers a fresh yearly high (1.2935) as it extends the series of higher highs and lows from last week, with the move above the...
At the time of writing, gold was up a touch but off its earlier highs. Silver had turned negative having been higher earlier -- not a great sign. Still, with the dollar easing, there is hope. Wednesday’s release of US CPI is eagerly anticipated.
What is driving gold prices?
We have seen bond yields decline at the start of this week, with investors potentially...
The Fibonacci sequence is a series of whole numbers where each figure is the sum of the two before it. It starts with zero and one, which are known as the 'seed numbers'. The next number is (0 + 1) one, followed by (1 + 1) two and so on.
Fibonacci ratios are a series of percentages calculated by dividing figures along the Fibonacci sequence. There are quite a few...
The price of oil trades above the 50-Day SMA ($71.36) as it extends the series of higher highs and lows from last week.
Crude Oil Outlook
The price of oil may attempt to retrace the decline from the June high ($75.06) as it registers a fresh weekly high ($72.34), with a break/close above $75.60 (38.2% Fibonacci extension) bringing the May high ($76.69) on the...
The US dollar outlook improved further on the back of a much stronger ADP payrolls report and an above-forecast ISM services PMI reading, all adding to bets that the Fed will hike interest rates at least one more time. The resulting sell-off in risk assets means the AUD/USD outlook has been dealt a double or even triple whammy. Will we now see another strong US...
The US dollar will be tested this week with the release of some top-tier data in the coming days. We will have the closely-followed ISM services PMI on Thursday, followed by the June nonfarm payrolls report, while the latest CPI report will be published next week. Together, these data releases should be the deciding factor behind a hike or hold in US interest...
The price of oil appears to be defending the monthly low ($66.80) as it extends the rebound from the weekly low ($67.05), but failure to push above the 50-Day SMA ($71.95) may undermine the recent rebound in crude as the moving average reflects a negative slope.
Crude Oil Outlook
The price of oil may track the June range as it attempts to push above the...
ETH/USD appears to be stuck in a narrow range after registering a fresh monthly high ($1936) during the previous week.
ETH/USD Outlook
The V-shape recovery in ETH/USD appears to have stalled ahead of the May high ($2000) as it snaps the series of higher highs and lows from the monthly low ($1623), and failure to close above the $1865 (23.6% Fibonacci...
EUR/CAD appears to be reversing course ahead of the monthly low (1.4283) as it retraces the decline from the previous week.
EUR/CAD Rate Outlook
EUR/CAD consolidates following the failed attempt to test the February low (1.4239), and the exchange rate may stage a run at the monthly high (1.4540) as it holds above 1.4260 (38.2% Fibonacci retracement).
A break...
A bull-flag appears to be taking shape after AUD/JPY registered a fresh yearly high (97.67) earlier this month.
AUD/JPY Rate Outlook
AUD/JPY may consolidate over the remainder of the month as it holds above last week’s low (95.26), and the Relative Strength Index (RSI) may continue to show the bullish momentum abating as if falls back from overbought...
EUR/JPY retraces the decline from earlier this week to trade to a fresh yearly high (155.75), and the exchange rate attempt to test the September 2008 high (159.61) as the Relative Strength Index (RSI) holds in overbought territory.
EUR/JPY Rate Outlook
EUR/JPY initiates a fresh series of higher highs and lows as the Japanese Yen depreciates against most of...
EUR/AUD carves a series of higher highs and lows after registering a fresh monthly low (0.5849) last week, and the exchange rate may stage a larger rebound as the Relative Strength Index (RSI) reverses ahead of oversold territory.
EUR/AUD Rate Outlook
EUR/AUD attempts to retrace the decline from the start of the month after failing to push below the 1.5800...
ETH/USD registers a fresh monthly low ($1623) after failing to defend the May low ($1741), with the recent decline in Ethereum pushing the Relative Strength Index (RSI) to its lowest level since March.
ETH/USD Outlook
ETH/USD appears to be staging a rebound amid the lack of momentum to push below the $1565 (50% Fibonacci retracement) to $1623 (78.6% Fibonacci...
AUD/JPY registers a fresh yearly high (95.19) as it stages a seven-day rally, and the exchange rate may attempt to test the November 2022 high (95.56) as the Relative Strength Index (RSI) pushes above 70 for the first time this year.
AUD/JPY Rate Outlook
AUD/JPY continues to appreciate after reversing ahead of the 50-Day SMA (90.98) at the start of the month,...
EUR/JPY trades to a fresh monthly high (151.25) after defending the opening range for June, and the exchange rate may attempt to test the May high (151.62) as it appears to be tracking the positive slope in the 50-Day SMA (148.21).
EUR/JPY Rate Outlook
EUR/JPY continues to hold above the moving average amid the failed attempt to clear the monthly low (148.63),...
Sterling poised to mark an outside-day reversal off confluent resistance at 1.2600/25 - a region defined by the 78.6% retracement of the May sell-off and the yearly high-day close.
Initial support 1.2419 backed by 1.2370 (key)
A topside breach would expose a run towards the next major Fibonacci hurdle at 1.2757 .
US Inflation on tap tomorrow followed by...
The recent decline in EUR/CAD seems to have stalled ahead of the February low (1.4239) as it trades in a narrow range, with the Relative Strength Index (RSI) reflecting a similar dynamic amid the failed attempt to push below 30.
EUR/CAD Rate Outlook
EUR/CAD consolidates after registering a fresh monthly low (1.4283) during the first full week of June, and the...
