Gold continued to fall on Tuesday, breaking below $1,740 and further losses could be on the cards.
The yellow metal has come under significant pressure as central banks have prepared the markets for the end of pandemic era stimulus and even rate hikes as early as next year.
Even higher inflation hasn't tempted traders back in, despite its reputation as a hedge,...
The rally in USDCAD has lost momentum over the last couple of months, perhaps a sign that the correction is drawing to a close.
The pair only recently broke above the 200/233-day SMA band, giving the impression that the correction had only just started. But then it failed to make a new high last week and now it's testing that same moving average band from...
The next few weeks will be interesting in GBPUSD with the pair seeing the currencies of two central banks intent on tightening going head to head.
This is perhaps why it has entered into broad consolidation with the pair once again failing to make a new low, despite breaking back below the 200/233-day SMA once more.
The pair rotated strongly off 1.3750 over the...
A breakout has been a long time coming in the GBPJPY pair, with the consolidation having started many months ago.
With support and resistance now closing in, we may not have to wait much longer. While support has been found until now around 148.50, the lower part of the descending triangle, the 200/233-day SMA band could represent the first major breakthrough...
The FOMC meeting was not kind to gold. With a taper now almost nailed on this year and rates potentially rising from next, it seems gold's appeal is beginning to wane.
The yellow metal was already on a downward trajectory in the weeks leading up to the Fed meeting, with traders seemingly of the view that their determination to taper this year would not be...
Equity markets have been struggling to gather upside momentum over the last month and those nerves showed on Monday when the market sold off, leaving investors feeling rather nervous about what lies ahead.
While the move saw the index break significantly below the 55/89-day SMA for the first time in almost a year - it quickly reversed course a couple of times in...
It's been a long time coming but we may finally have seen bitcoin move into correction territory.
Heavy selling at the start of the week saw bitcoin break significantly below $44,000 -and the 200/223-period SMA band on the 4-hour chart - before coming close to a break of $40,000 today.
A small correction (of the sell-off) saw the cryptocurrency test that prior...
With the dollar remaining in favour after yesterday's stronger US data, the ability of EURUSD to retrace back towards 1.20 is looking increasingly unlikely.
One last hurdle remains to the downside, the 76.4 fib (some may prefer the 78.6 but there isn't a huge amount of difference). If this falls, any hope of a larger retracement is surely dashed.
This fib level...
The UK 100 has struggled to push on over the last month, with nerves in the markets seemingly taking their toll on the rally.
We've seen a couple of pullbacks that appeared to indicate the index was vulnerable to a larger correction but each time it showed strong resilience and headed back towards the highs.
Recently though, the bearish case has been building....
It's not often that bitcoin feels like it's standing still but for weeks now, it looks like it's been shaping up for a correction and it has neither corrected nor broken higher.
Earlier this week it tested those lows (rough) around $44,000 and once again, bitcoin bulls fought back and defended that crucial support region.
Since then, it's rallied once more but...
It's been an interesting day for cable, one that saw the dollar retreat before the pair quickly reversed course which raises many questions.
The reversal came at the 50 fib level which could be viewed as a bearish move. But it isn't that simple. The pair tested the 61.8 fib a month and a half ago before breaking through the 200/233-day SMA band.
But then it...
The euro has given back some of its gains against the dollar over the last week, after rallying strongly to break out a descending channel over a couple of weeks prior.
Today the pullback entered into interesting territory, between the 50 and 61.8 fib levels, where already it is finding some support. That area also coincides with the top of the channel it has...
The Canadian dollar is in positive territory in the Friday session. Currently, USD/CAD is trading at 1.2619, down 0.34% on the day. Earlier in the day, the pair moved into 1.25-territory.
It has been a busy week for the Canadian dollar, which started the week with strong losses but has partially recovered. The upward swing could continue on Friday, as Canada's...
The British pound has punched above the 1.38 level in the Thursday session. GBP/USD is currently trading at 1.3858, up 0.63% on the day.
After posting three straight days of losses, the British pound has rebounded strongly on Thursday. The US dollar is in retreat against the majors, despite a positive unemployment claims release earlier in the day. Claims fell to...
The Australian dollar is in negative territory on Monday, after flexing some muscle last week. AUD/USD is trading at 0.7430, down 0.35% on the day. The currency shot up 1.94% last week, as investor appetite for risk improved, which was bullish for minor currencies like the Australian dollar.
The Australian dollar ended the week on a high note, with strong gains...
The Australian dollar rally has continued on Friday, as the currency is higher for a fourth straight day. Currently, AUD/USD is trading at 0.7430, up 0.43% on the day.
The US dollar continues to falter, and the Aussie has taken full advantage. AUD/USD has gained 1.66% this week, after sharp gains of 2.42% a week earlier. Investors have given the Australian dollar...
The dollar has come under pressure over the last couple of weeks as the economic data has necessitated a more dovish line from the Federal Reserve.
The result is that, despite breaking below the 200/233-day SMA and into bearish territory, the pair has failed to gain much traction to the downside.
We'll soon see whether that failure is temporary or more...
Oil prices have rebounded strongly over the last couple of weeks, with WTI coming within a whisker of $70 before profit-taking kicked in.
The pullback today was short-lived and after falling close to $67 it recovered the bulk of the losses to trade in between two key technical levels.
Above, $70 is an important psychological barrier that coincides with the...
