The Euro came into inception in 1999, and a year later set a low at .8229. In 2008, before the Financial Collapse drove a rally in the USD, EUR/USD set a high above 1.6000 that hasn't been taken out.
But, perhaps more pertinent are the levels produced by the Fibonacci retracement around the lifetime move in the pair.
The price of 1.1212 has been especially...
The Dow Jones trades within a rising channel. The price has risen to fresh record highs above 42.2k and is running into the upper band of the rising channel, dating back to the start of April.
The RSI is on the brink of overbought territory, so buyers should be cautious. A rise above the trendline resistance opens the door to a 43k round number. On the downside,...
EUR/USD has been trending higher since mid-April. More recently, the pair recovered from 1.10, the September low, and is testing resistance at 1.12 resistance, the August high, and the 2024 high.
Buyers, supported by the rising RSI, will look to rise above 1.12 to head towards 1.1275, the 2023 high.
On the downside, support can be seen at 1.1140, the December 2023...
Oil traders mull over the demand outlook with China's outlook improving after a slew of stimulus, but the US outlook in question after weak consumer confidence data. EIA stockpiles are due later.
Oil trades below its falling trendlines and its 200 SMA. The price has recovered from a September low of 65.50. However, the recovery has run into resistance at the...
Given its status as cyclical currency closely tied to the fortunes of the global economy, it comes as no surprise that NZD/USD blasted to a 2024 YTD high following China’s latest stimulus announcement.
Having broken long-running downtrend resistance, and with momentum indicators providing bullish signals without being overbought, there could further upside to...
It's been a strong past week for USD/JPY, even as the pair opened last week with its first 140.00 test in a year, followed by the 50 bp rate cut from the FOMC on Wednesday. That built-in a sequence of higher-highs and lows as the Wednesday swing low held above the Fibonacci level at 140.30, and buyers pressed ahead to close last week. And even on Monday, there was...
The EUR/GBP is down for another week after giving up its gains last week to close lower, created an inverted hammer/doji candle on the weekly time frame. Following that bearish-looking candle last week, we have seen some subsequent downside follow through so far this week, with rates on course to potentially drop to 0.8300 and potentially even test long-term...
Chinese stocks are going vertical in response to the swathe of stimulus measures announced before the market open. China’s A50 Index is no exception, staging a bullish breakout to an import level we can use to build setups around.
The break of the downtrend and 50DMA looks significant on the back of big volumes, seeing futures retest the 200DMA. With MACD and...
GBP/JPY approaches the monthly high (193.48) as it extends the series of higher highs and lows from last week.
GBP/JPY Outlook
The recent recovery in GBP/JPY has pushes the Relative Strength Index (RSI) to its highest level since July, and a break/close above the 192.40 (50% Fibonacci extension) to 193.50 (38.2% Fibonacci extension) region opening up the...
The Fed leaned dovish last week with the 50 bp cut, also highlighting their expectation for another 50 bps of cuts into the end of the year. Initially the announcement brought out USD bears as DXY pushed down for a fresh yearly low. But shortly after the currency began to pare back those losses and it finished in the green for the day last Wednesday.
There was...
While GBP/USD has jumped to another fresh two-year-high, EUR/USD doesn't look as convinced. The pair continued the rally from 1.1000 last week but notably, bulls couldn't force a re-test of the prior 2024 high at 1.1200, with last week's highs holding around 1.1175.
Interestingly the ECB remains in a somewhat dovish position as they're looking to cut rates, as...
Sterling continues to impress amongst major FX and GBP/USD has pushed up to a fresh two-year high to start the week. Support at prior resistance looked at late last week has held and bulls are now testing through the 76.4% retracement of the 2021-2022 major move. The 78.6% retracement from that same study plots a little higher, at 1.3414 and that's the next spot...
AUD/USD is grinding higher towards downtrend resistance dating back to the middle of 2023, putting traders on alert for a potential bullish breakout to multi-year highs.
Adding to the potential bullish setup, MACD and RSI (14) continue to provide bullish signals on momentum. As indicated on the bottom pane, the rolling 10-day negative correlation between AUD/USD...
The Non-Farm Payroll (NFP) report is often followed closely by sophisticated traders, but new traders often seem to overlook it. In today’s TradingView educational post, we’ll explain what NFPs are and why they matter.
The NFP report is a crucial monthly indicator that shows the net number of jobs added in the U.S. during the previous month, excluding those...
Despite the Fed's outsized rate cut in mid-week, the USD/JPY and other yen crosses have rebounded this week.
The yen has been undermined by the ongoing risk-on trade in equities space. Today saw JPY fall further after the BoJ turned out to be more dovish at its rate decision and press conference than expected.
As a result, the USD/JPY is on the verge of...
It's been a rather clean topside move in GBP/USD since last week's test at the 1.3000 level, with the pair gaining as much as 338 pips from those lows.
There has been some help on the fundamental side, of course, with the Fed cutting by 50 bps and the BoE holding steady.
But, from a price action perspective I think this pair is still a more attractive venue...
Gold has extended its post-FOMC support bounce and the second test at 2600 didn't cause bulls the same trouble that the first did.
The challenge now is chasing the pair after a fresh yearly high, with daily RSI nearing overbought and weekly already well in that territory.
This, of course, doesn't mean that the trend is done. But - it does highlight the fact...
AUD/USD has been one of the more responsive pairs for themes of USD-weakness since the August 5th spike.
That low from early-August was a bounce point for v-shaped reversal, which pushed price up to a major level at .6824 that held the highs. The pullback from that resistance was a clean 38.2% retracement of the move, which held the lows and propelled another...
