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From a technical perspective, DXY extended its decline as the price approached the 100.80 support. A break below this level could prompt a further decline, with 99.80 as the next potential support. Conversely, a rebound above 100.80 could prompt a pullback to retest the 102.50 resistance. MACD remains below the zero threshold, indicating potential for further...

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Technical Perspective: XAUUSD saw repeated tests of the upper bound of the ascending channel, which is near the 2520 resistance. If XAUUSD sustains its bullish momentum, a further rise towards the Fibonacci confluence levels near 2520 might occur. Conversely, if XAUUSD pared recent gains, the price could retreat toward the 2280 support. Notably, RSI is hovering...

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From a technical perspective, GBPUSD reversed below the upper bound of the ascending channel, with MACD holding below the zero threshold, indicating further downside potential. If GBPUSD sustains its bearish momentum below 1.2850, a further decline towards the 1.2550 support might occur. Conversely, if GBPUSD retraces, the price could retest 1.2850 and 1.3000 upon...

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Fundamental Perspective: The Fed will likely keep interest rates steady and hint at a potential cut in Sep amid progress on inflation and a softer labor market. Meanwhile, Vice President Kamala Harris has narrowed the gap with Donald Trump in key battleground states, showing more robust poll numbers than President Biden and could enhance voter turnout....

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Technical Perspective: DXY broke out of its ascending trend line and formed lower swing points on the daily timeframe, with the price retracing towards the 105.00 resistance, which coincides with the breakout zone and Fibonacci confluence levels. If DXY reverses below 105.00, the index could extend its decline toward the 103.20 support. MACD is holding below the...

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Technical Perspective: USOIL pared recent gains as it reversed below the 84.00 resistance, with the price approaching the 78.00 support. If USOIL rebounds above the 78.00 support, the price could extend its rally to restest the 84.00 resistance again. Beyond that, a breakout of the 84.00 resistance could prompt a further rise, with 86.00 as the next potential...

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Technical Perspective USDJPY is testing the 158.50 support, which coincides with the ascending trend line and 38.2% Fibonacci retracement. The price remains in an uptrend with the formation of higher swing points. If USDJPY regains its bullish momentum and rebounds above the 158.50 support, a rise towards the 161.80 resistance and 61.8% Fibonacci extension...

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Fundamental Perspective: Following remarks by BoE chief economist Huw Pill highlighting ongoing challenges with service sector inflation and strong wage growth, markets trimmed expectations for BoE rate cuts, supporting the pound's rally. Meanwhile, as the UK election concluded, the political stability and policies aimed at enhancing Britain's investment appeal...

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Technical Perspective: USOIL pared recent gains as the price reversed below the 84.00 resistance. A further throwback towards the 78.00 support might occur, which aligns with the last consolidation zone before prices broke above the high near 80.00. If USOIL regains its bullish momentum above 78.00, a further rise to retest 84.00 might occur. A breach above...

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Technical Perspective In the daily chart, BTCUSD extended its decline within the descending channel, with the price approaching the 52500 support zone. If BTCUSD rebounds above 52500, the price could rise to retest the 65500 resistance. Conversely, a bearish breakout of the channel could prompt a further decline towards 47200.

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Technical Perspective: DXY remains within an ascending channel as the price approaches the 104.50 support zone, which coincides with the lower bound of the ascending channel and 78.6% Fibonacci retracement. If DXY rebounds above this level and regains its bullish momentum, a further rise toward the 106.00 resistance and 61.8% Fibonacci extension might occur....

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Fundamental Perspective: US30 consolidated as markets assessed downbeat US NFP data, marked by sharp downward revisions for Apr and May, indicating a cooling labor market. Average hourly earnings rose by 0.3% in Jun, below the market forecast of 0.4%. The modest wage increase and downward revisions in job figures could reinforce expectations of a Sep Fed rate...

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Technical Perspective: Looking at the most recent price action, GBPUSD pared recent losses on the daily timeframe. The price is approaching the 1.2850 resistance zone, a swing high formed in March this year. If GBPUSD sustains its bullish momentum within the ascending channel, it might rise further to retest the 1.2850 resistance. Beyond that, breaching above...

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Technical perspective: EURUSD is nearing the upper boundary of its descending channel, aligning with significant resistance at 1.08200, marked by the 61.8% Fibonacci retracement and the 50% Fibonacci extension. The price remains below the Ichimoku cloud, indicating potential for a reversal. If EURUSD reverses below 1.0820, it could extend its decline toward the...

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Fundamental Perspective USDJPY has extended its rally, buoyed by interest rate differentials and robust US economic data. The latest US jobs report revealed a surge in May job openings to 8.140 million, surpassing the forecast of 7.91 million. April's figures were revised downward to 7.919 million, marking a three-year low. Federal Reserve Chairman Powell...

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Fundamental Perspective: USOIL continues its rally driven by escalating geopolitical tensions and concerns about potential disruptions in US supplies during the intensifying hurricane season. Optimism surrounding the summer driving season is expected to increase demand and underpin further price gains. Despite uncertainties about softer demand from China, one of...

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From a technical perspective, EURUSD remains under pressure following a bearish breakout of its ascending trend line. Looking at the indicators, the Ichimoku cloud and 50 EMA indicate further downside potential. If EURUSD sustains its bearish momentum, the price could extend its decline towards 1.0650.

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Prices are approaching our support in line with our graphical swing low support and 78.6% fibonacci retracement where we could see a bounce above this level with our first resistance as our target.