Price action at the back end of last week in EURUSD was chaotic to say the least.
From Christine Lagarde putting across a dovish case for the central bank which the market completely disregarded to the dollar soaring on Friday on the back of a surprise spike in the employment cost index - an inflationary signal - we certainly saw plenty of action that we now have...
Gold plummeted on Friday as the dollar soared and US yields rose, particularly at the short end of the curve.
The dollar has pared some of those gains at the start of this week which has allowed the yellow metal to recoup some of its losses. But is the damage already done? Is golds dream of recapturing and holding onto $1,800 dashed?
It's not looking good for...
The pound has made some incredible moves against the yen in recent weeks, following the breakout from long term consolidation through the top of the descending triangle, after which it surged to more than five-year highs.
The rally in the pound has been driven by rapidly shifting interest rate expectations, with markets now pricing in four or five rate hikes by...
Bitcoin is pushing higher after coming under pressure in the middle of the week.
A break below $60,000 could have spelt trouble for the cryptocurrency, and still could, but it's been quick to rebound back above this level and crypto bulls may be enthused.
The correction in bitcoin saw it fall more than 13% from its highs, a healthy pullback in most instruments...
Gold has recovered strongly in recent weeks but it's struggled for momentum since breaking above $1,800.
The yellow metal initially broke above here on Friday but failed to hold and gave back most of its gains to end the week below that important resistance level. This is a sign of weakness in the rally and suggested it may struggle when trading resumed this...
We've seen a larger correction in cable than it appeared we may at times a couple of weeks ago and now it's once again reached an important level that may define the direction of travel in the weeks and months ahead.
The pound has rallied strongly on the belief that the Bank of England is going to raise interest rates once this year and multiple times next,...
The British pound continues to have an uneventful week and the lack of activity has continued in the Friday session. GBP/USD has been trading close to the 1.38 level for most of the week and is currently at 1.3804, up 0.09% on the day.
UK Retail Sales declined by 0.2% in September. This is a cause for concern, given that retail sales have now declined for three...
Brent crude has been running low on momentum in recent days and may be primed for a corrective move.
The fundamentals have become increasingly bullish for oil prices as the weeks have passed, from a strong economic recovery to a carefully managed return of output from OPEC+ and now, an energy crisis that has increased oil crude demand by 500,000 barrels per day....
We've seen a slight recovery in EURUSD over the last week, taking the pair back to the top of the descending channel it's traded in since mid-June.
The top of the channel coincides with the 38.2 fib level (September highs to October lows) so could mark a shallow correction in the downtrend. Or it could be the first test in a broader corrective move.
A move...
Bitcoin has been heavily in focus on Tuesday following the launch of the first-ever ETF, a landmark momentum for the cryptocurrency industry.
The fact that the first day of trading of the ProShares ETF on the NYSE came at a time when bitcoin was pushing record highs is probably no coincidence, traders perhaps hopeful that the day would bring extra...
Last weeks breakout following a long period of consolidation has seen GBPJPY make strong gains to the upside and it's about to face its first big test.
The pair has previously seen support and resistance around 154.50 and we appear to be seeing that once more as it pushes for a fifth consecutive day of gains.
The stochastic and MACD on the 4-hour chart suggest...
Bitcoin has been on an incredible run recently, one that may not come as a surprise to some, but that also begs the question, how much further can it go?
It has run into some resistance on approach to $60,000, a notable psychological resistance level and one that falls just ahead of the all-time high. So it's not surprising that we're seeing some resistance...
The pound has been recovering against the dollar this month after breaking key support towards the end of September, but it may be running into trouble.
The pair has run into some resistance around an area that has been a major support zone for much of the year so far. What's more, it falls around the 50% retracement level which would be a typical rotation level...
Are we about to see silver break out of the descending channel and bring an end to months of a downtrend?
The charts suggest we probably aren't. Silver has rallied over the last week or so but today it's run into significant resistance near the upper end of the descending channel and the long upper wick suggests it's been strongly rejected.
This fell just shy...
We've been waiting for a breakout in GBPJPY for some time and recently, the closing in of the moving average bands have given the impression that it's not far away.
While the descending trend line above gives the impression that a break below is a little more likely than above, this is a trend that's formed over a very long period of time, which arguably make it...
The last four months have seen the euro fall quite considerably again the dollar, down more than 6% in that time.
Rising US yields in recent months have contributed to the rally in the dollar, as has risk aversion in recent weeks, but how much more can we expect?
In many ways, that depends on how much policymakers are willing to tolerate, both in terms of...
EURJPY has been trading sideways for a few months now, with support around 128 and resistance 130.50.
While there's nothing to suggest the pair will break out in either direction yet, we may soon see the lower end come under some pressure.
We've seen some consolidation in the pair over the last week and it's now approaching key fib levels of the recent highs and...
It's been another rough day for the Nasdaq, with the index sliding more than 2% and leading the way lower in the US.
As central banks prepare to pull back on pandemic stimulus measures, investors are starting to get nervous and it seems big tech is viewed as being most sensitive to it.
It doesn't help that central banks are doing this at a time when the global...
