With price action on the monthly timeframe rejecting the underside of the 50-month simple moving average (SMA) at US$1.0927 and daily price recently completing a double-top pattern from the lower edge of said SMA (breaching the neckline taken from the low of US$1.0823), EUR/USD (euro versus the US dollar) bears will likely remain on the offensive until the...
Since BTC/USD (Bitcoin versus the US dollar) rebounded from the 200-day simple moving average (SMA) earlier this month at US$78,111, speculative bullish interest has been uninspiring.
Further Downside
As far as I can see, the major crypto pairing demonstrates scope to continue exploring south until it reaches support from US$68,926 on the monthly timeframe...
Down nearly 4.0% this month, the US Dollar Index demonstrates scope to navigate deeper waters on the monthly chart towards the 50-month simple moving average (SMA) at 101.72. A similar vibe is evident on the daily chart. Following a test of support-turned-resistance at 103.94, a possible bearish scenario could unfold if price breaches the lower edge of the current...
Versus the US dollar, spot gold (XAU/USD) rallied strongly in the early hours of the US session and is now up 1.5% on the day. Currently trading at US$2,977 and refreshing record highs, the precious metal is on the cusp of bumping heads with the widely watched US$3,000 level.
Gold’s Uptrend Remains Intact
Although Gold’s multi-year uptrend is not ensured to...
As shown on the weekly chart of the S&P 500, the stock market index is on track to record a fourth consecutive week underwater. However, with price action welcoming support around 5,577, a rebound higher could be on the table. This support zone includes local descending support, extended from the high of 5,669, and a channel resistance-turned-support line, taken...
Several desks forecast that the Bank of Canada (BoC) will reduce the overnight rate by another 25 basis points (bps) to 2.75% (from 3.00%) today at 1:45 pm GMT. Since June (2024), the central bank has lowered rates by 200 bps over six consecutive meetings, bringing the overnight rate closer to the mid-point of the BoC’s neutral range of 3.25% - 2.25%.
The swaps...