Risk of a countertrend squeeze in USD/CHF is building after it printed a bullish engulfing candle on Tuesday, breaking out of the falling wedge it had been trading in over recent weeks.
While the price signal alone is bullish, to get excited about the prospect of a meaningful squeeze higher, USD/CHF needs to clear minor resistance overhead at .8246. If it can get...
Over the past two trading sessions, WTI crude oil has gained more than 5%, as confidence has temporarily returned to the market following the latest OPEC+ announcements. The organization recently announced a new production increase of 411,000 barrels per day starting in July, but the volume was lower than anticipated, which has been interpreted as a positive...
SGX iron ore looks heavy, threatening to extend the bearish break that began a week ago. The test and rejection at horizontal resistance at $97.35 last Thursday only adds to the bearish picture from momentum indicators like RSI (14) and MACD, reinforcing the bias to sell pops and downside breaks.
The price now finds itself at an interesting spot on the charts,...
Having broken triangle resistance stemming from the record highs and cleared horizontal resistance at $3367, things are once again looking bullish for bullion. Add in renewed upward momentum in RSI (14) and a bullish MACD crossover, and the preference remains to buy dips and topside breaks.
$3367 now looms as a key level to build bullish setups around, offering a...
One of the cleaner setups into the start of the week / month- Sterling opens the session with a test of confluent resistance into the yearly high-day close (HDC) at 1.3564- looking for a reaction there today with a breach / close above needed to fuel the next leg of the advance towards 1.3671-1.3705.
Initial support rests with the 2019 high at 1.3515 backed...
Gold is poised to mark the largest single-day advance in nearly a month with XAU/USD stretching back into resistance at 3355/80- a region defined by the 61.8% retracement of the April decline and the record high-day reversal close. Looking for a reaction off this mark with a close above the median-line needed to fuel a run towards the record high-close at 3431 and...
The S&P 500, which ended Friday's session flat, has turned flat in today's session as well, after bouncing back from its earlier lows on reports that the US and Chinese leaders will meet to discuss trade after the two sides accused each other of violating their recent trade deal.
June could be a more challenging month for stocks if trade uncertainty persists,...
Bitcoin's rally stalled at the $108,500 resistance level, with prices now pulling back and breaking below the steep uptrend line. The MACD is crossing lower and RSI is falling toward neutral, indicating momentum may be shifting. With the 50-day moving average near $94,400 and horizontal support around $100,000, traders may look for signs of stabilization in that...
Gold is reasserting its uptrend following a strong bounce off confluence support around the 50-day moving average and trendline:
Uptrend Intact: Price continues to respect the rising trendline and 50-day SMA (~$3,235), which acted as a springboard for the latest push.
Momentum Shift: The MACD has turned higher again after cooling off through April-May, while RSI...
AUD/USD is threatening a breakout from a bullish ascending triangle pattern after weeks of tight consolidation:
Triangle Pattern: The pair has carved out a clear ascending triangle, marked by higher lows and resistance near 0.6500. Today's breakout attempt is the most convincing yet.
Key Levels in Play: 0.6500 remains the neckline to beat, while the 200-day SMA...
Thanks to ongoing trade uncertainty and troubles in the bond market, the USD/JPY looks like is going to end the week on a negative note, after coming down sharply in the last day and a half, which means the weekly gains have more than halved.
The US dollar had actually clawed back a bit of ground in early Friday trading after taking a hit the day before. The...
Nvidia released its quarterly earnings yesterday, and since then, market confidence triggered a significant bullish gap that pushed the stock price up by nearly 5%. However, in recent hours, a new bearish bias has started to emerge, steadily closing the gap as the market digests the company’s latest report.
Nvidia reported $44 billion in revenue, slightly above...
USD/JPY is poised to snap a three-day winning streak with price reversing today at the 61.8% retracement of the monthly range. A decline of more than 1.5% from the highs puts the immediate focus on the monthly range lows with a break needed to mark resumption of the broader downtrend.
Monthly open support rests at 143.06 and is backed by the May opening-range...
After I highlighted the potential for a short-term breakdown yesterday, the precious metal went on to break that $3,300 support and dropped a good $50 below it, before finding STRONG support at $3250 - a level that had not been re-tested yet after the upside breakout last week. Where do we go now, is the key question.
Well, gold is now near the resistance trend...
The Dow is currently holding near the neckline of a double-top formation that developed between December 2024 and February 2025, possibly buoyed by ongoing tech and Nasdaq optimism. The broader rebound from the 2025 lows is also forming a diagonal structure, setting up the following scenarios:
Bullish Scenario:
With weekly RSI holding above the 50 neutral zone...
The GBP/USD pair is currently pulling back from a key resistance zone and trendline stretching from the peaks of July 2023 to September 2024. These levels coincide with previously oversold RSI readings seen during the same periods, raising the likelihood of a pullback.
This resistance aligns with the 1.3590 level, which also corresponds to the 1.272 Fibonacci...
USD/JPY continues to drive impact in broader USD themes and given the fact that there's still considerable carry remaining in the pair, the consequences of a deeper sell-off could bring impact to several macro markets. USD/JPY is about 40% above the early 2021 lows when the carry trade began to build on the back of stronger US inflation, and even as US rate cuts...
GBP/USD has broken out to a fresh three-year-high, finally pushing above the Fibonacci level of 1.3414. That pushed directly into a test above the 1.3500 handle, and prices have since pulled back.
Given dynamics in the USD, that bullish trend in Cable remains of attraction if we do see USD-weakness continue. But, if strength remains in DXY and USD, there's...
