The price of oil trades near the weekly high ($73.73) as it stages a five-day rally for the first time since October.
Crude Oil Price Outlook
Keep in mind, the price of oil cleared the November high ($72.39) as it carved a series of higher highs and lows, with a break/close above the $73.00 (61.8% Fibonacci retracement) to $74.00 (50% Fibonacci retracement)...
EUR/USD has set a fresh two-year-low in the opening days of 2025 trade. And naturally the look goes towards the vaulted parity figure which is at that major psychological level of 1.0000.
There's been only a single instance of the pair trading below that price and it happened amidst an extreme backdrop, when the Fed was ramping up rate hikes in 75 bp increments...
Chart Analysis:
The USD/MXN pair has approached the critical resistance level at 20.80, which has been a notable ceiling for price action in the past. The bullish momentum is evident, but further confirmation is required for a potential breakout.
1️⃣ Resistance Test:
The 20.80 level has acted as a strong resistance historically. A breakout above this zone could...
Chart Analysis:
The GBP/USD pair has extended its decline, breaking below the 1.2487 support level, with the current price at 1.2378. The bearish momentum is intensifying as the pair approaches further key levels.
1️⃣ Key Support Breakdown:
The breach of 1.2487 indicates increased selling pressure. The next major support level lies near 1.2300.
2️⃣ Moving...
Chart Analysis:
The EUR/USD pair has extended its downtrend, decisively breaking below the critical support at 1.0340, which previously held as a major floor. The pair is now trading at 1.0265, hitting levels not seen in recent months.
1️⃣ Key Breakdown:
The breach below 1.0340 confirms a continuation of the bearish trend, with sellers firmly in control. This...
It was a blistering Q4 for the US Dollar and that's especially true in USD/CAD. While USD reversed aggressive at the Q4 open while getting a shot-in-the-arm around the U.S. Presidential election, in USD/CAD there was also the added drive of tariff potential after President-elect Trump threated a 25% tariff on Canadian goods unless the border was shored up. That...
Chart Analysis:
The S&P 500 Index remains firmly within its ascending channel (green zone), with the current price rebounding from the channel's midline near 6,006.5. The bullish structure remains intact, supported by key moving averages.
1️⃣ Ascending Channel:
Price continues to respect the channel boundaries, with recent consolidation near the midline and...
Chart Analysis:
Gold is trading within a symmetrical triangle pattern, reflecting a phase of consolidation as price tightens between converging trendlines. The current price of $2,611.97 is near the middle of the range, with both upward and downward breakouts possible.
1️⃣ Symmetrical Triangle:
Price action is consolidating within the converging trendlines. A...
Chart Analysis:
The USD/MXN pair has definitively broken below the rising trendline (black), suggesting a potential shift in the bullish structure. The price is now consolidating below the trendline near 20.14, with the next support levels coming into focus.
1️⃣ Trendline Break:
The drop below the rising trendline indicates a weakening of the previous bullish...
Chart Analysis:
NVIDIA stock remains in a broader uptrend, with price action bouncing off a rising trendline (black) while consolidating within a descending channel (green zone).
1️⃣ Rising Trendline:
The trendline, established from early 2024 lows, continues to act as dynamic support, with the price rebounding from this level.
2️⃣ Descending Channel:
Recent...
Chart Analysis:
The U.S. Dollar Index (DXY) continues to trend higher within a well-defined ascending channel (green zone). The index has pulled back slightly but remains firmly within its bullish structure.
1️⃣ Ascending Channel:
Price action remains within the channel, with current consolidation near the midline around 108.08. A move to test the upper or...
Chart Analysis:
The EUR/USD pair has been in a sustained downtrend, but recent price action suggests stabilization near a key support zone at 1.0340.
1️⃣ Support Level:
The horizontal level at 1.0340 has held firm, providing a key area of interest as price consolidates. A break below could lead to further downside, while a bounce may signal short-term...
USD/CHF pulls back from a fresh monthly high (0.9022) to keep the Relative Strength Index (RSI) below oversold territory, but a move above 70 in the oscillator is likely to be accompanied by a further advance in the exchange rate like the price action from earlier this year.
USD/CHF Rate Outlook
The recent rally in USD/CHF appears to be stalling ahead of the...
Chart Analysis:
The USD/JPY pair has extended its rally and is now approaching the 78.6% Fibonacci retracement level at 157.19, a critical resistance zone for the current uptrend.
1️⃣ Fibonacci Retracement:
The 78.6% retracement of the downtrend from 161.80 to 138.00 aligns near 157.19, making it a key area for traders to watch for potential reversals or a...
Chart Analysis:
The US 100 Index has pulled back from recent highs but remains above its rising trendline (black), maintaining the broader bullish structure.
1️⃣ Rising Trendline:
The trendline, originating from the August lows, has been a key dynamic support for the index. Price is currently testing this level around 21,150, making it a critical area to...
Chart Analysis:
The Australian Dollar has fallen sharply and is now approaching a key support level near 0.6172, last tested in October 2022.
1️⃣ Support Zone:
The horizontal level at 0.6172 represents a critical long-term support area. A test of this level could attract significant attention from market participants.
2️⃣ Fibonacci Retracement:
The 78.6%...
Nasdaq futures may have seen an ugly decline following the Fed’s rate decision but it’s noteworthy the price remained respectful of technical levels, bouncing off 21340.75 at the height of the carnage.
It’s far too early to call a bottom, especially with momentum indicators mixed: MACD has crossed over from above, generating a bearish signal, but the long-running...
Chart Analysis:
Tesla shares have surged past key resistance at $415, marking a significant breakout with strong bullish momentum.
1️⃣ Key Breakout:
The price broke above the horizontal resistance level at $415, which previously capped gains in 2021. This breakout signals renewed strength and opens the door for potential continuation.
2️⃣ Moving...
