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Analysis - 10 hours ago

Technical Analysis – USDCAD trades lower, tests key support

USDCAD is in the red today, a tad below 1.3977It is testing the support set by a short-term trendlineMomentum indicators are gradually turning bearishUSDCAD is edging lower today, trading a tad below the October 13, 2022 high at 1.3977. Profit-taking and this week’s stronger Canadian CPI have allowed CAD bulls to record a small correction from the four-year high of 1.4104. With the BoC expected to cut rates again in December, CAD bulls are desperately looking for any additional positive news t
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Analysis - 10 hours ago

Fed rate pause, Nvidia disappointment weigh on Wall Street - Stock Markets

Nvidia earnings fail to re-energize Wall Street bullsFed’s December rate cut hangs in the balanceGeopolitical risks also keep positive sentiment in checkNvidia beats earnings expectationsAI darling, Nvidia, delivered stellar earnings results on Wednesday after the market close, beating both revenue and earnings per share forecasts. The company also issued fourth quarter guidance that was above analysts’ estimates.However, investors had clearly set even higher expectations as the stock fell i
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Analysis - 11 hours ago

Midweek Technical Look – USDJPY, EURGBP, Oil

USDJPY is encountering some challenges but continues to maintain an overall uptrendThe outlook for EURGBP remains bearish, with attention shifting back to the 0.8260 levelWTI oil futures are fluctuating within a neutral range; bulls need to show stronger momentum
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Analysis - 15 hours ago

Cryptos remain in euphoria-land – Crypto News

Cryptocurrencies continue to strengthenBitcoin posts new all-time high, but ethereum lags behindShort-term gold-bitcoin correlation remains negative88,850 area is key support if a correction takes placeCryptos’ journey north continuesIt has been two weeks since president-elect Trump won the US election, and the cryptocurrency world is still feeling very positive about the next four years.
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Analysis - 15 hours ago

Daily Comment – Nvidia fails to lift markets, dollar stands tall

Stocks remain directionless even after stellar earnings by NvidiaDeclining odds for December Fed rate cut weigh on marketsDollar holds near highs, yen rallies, Bitcoin soars to $97,000Nvidia can’t satisfy lofty expectationsEquity markets continue to trade with lackluster momentum, struggling for direction even after AI giant, Nvidia, announced outstanding third quarter earnings.
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Analysis - 15 hours agoNeutral

Technical Analysis – USDJPY shows some stress; still in an uptrend

USDJPY trims gains, falls below steep bullish channelNew sellers could show up below 153.00-153.55USDJPY came under pressure early on Thursday, trimming Wednesday’s moderate gains and putting its two-month-old bullish channel at risk once again.The technical signals are not providing clear direction, with the falling RSI maintaining a sideways trajectory above its 50 neutral mark and the stochastic oscillator pointing down despite posting a positive cross.Perhaps a downside correction may not
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Analysis - 1 day agoBullish

Technical Analysis – Has the US dollar index peaked?

US dollar index faces pressure near one-year highFlag formation could lead to bullish continuationThe US Dollar Index (DXY) recently reached its November 2023 peak of 106.95 before edging slightly lower. Despite this pullback, there are no clear indications that the uptrend has peaked.The index, which tracks the US dollar’s value against six major currencies, is currently following a downward-sloping flag pattern.
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Analysis - 2 days agoBullish

Technical Analysis – Nvidia’s stock returns to bullish area

Nvidia’s stock turns green, aims for bullish continuationTechnical signals are positive; buyers eye 151.40 levelQ3 earnings could come stronger, albeit at a slower annual pace Nvidia’s stock has powered up and it’s heading toward its all-time high of 149.47 after a brief retreat to a two-week low of 136.87 earlier this week.Technically, the latest pullback was merely a pause in the broad bullish trend in the four-hour chart.
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Analysis - 2 days agoBullish

Technical Analysis – GBPJPY continues higher after UK CPI

GBPJPY gains ground after upbeat UK CPI dataTechnical signals endorse bullish effortsBuyers need confirmation above 197.35 GBPJPY advanced to an intra-day high of 197.77 after hotter-than-expected UK CPI inflation data gave traders confidence that the Bank of England might hold interest rates steady in December.Earlier, the pair had built a solid base around 194.70, supported by its 50- and 200-day simple moving averages.
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Analysis - 2 days ago

Daily Comment – Geopolitics dictates market sentiment, but dollar fails to benefit

Geopolitics in the spotlight, gold gainsDollar fails to benefit from the risk-off reactionStocks slightly in the green, as markets await Nvidia earningsPound gains after CPI report; bitcoin reaches $94,000It almost feels like the Cold War againDevelopments in the Ukraine-Russia conflict are monopolizing the markets' interest, as the first usage of long-range US missiles prompted a quick revision of Russia’s nuclear weapons doctrine.
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Analysis - 2 days ago

Technical Analysis – GBPUSD pauses decline near pivot area

GBPUSD hopes for a bullish turn after six-month lowTechnical signals suggest recent decline is overdoneBulls face a wall within 1.2663-1.2685 area GBPUSD found some relief after its six-day losing streak hit the important support trendline from October 2023 near 1.2600 – the lowest level in six months.The RSI and the stochastic oscillator are hovering near their oversold levels, suggesting a rebound or a consolidation phase might be on the horizon.However, further bullish momentum may be li
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Analysis - 3 days agoNeutral

Technical Analysis – US 100 index awaits fresh direction

US 100 index slides below 20-day EMA, but remains supportedTechnical indicators reflect uncertainty among tradersThe US 100 stock index has recently pulled from a record high of 21,230 to set a footing near the 23.6% Fibonacci retracement of its August-November uptrend at 20,288. Despite its retreat, the index seems well-supported and market sentiment is currently in a holding pattern.The 20-day exponential moving average (EMA) has again resumed its resistance role, capping the index within a ti
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Analysis - 3 days ago

Daily Comment – Stocks cautiously edge up amid geopolitical and inflation risks

Softer yields lift stocks despite Ukraine fears and rate cut doubtsGold extends rebound, oil also higher in choppy tradingDollar on the backfoot amid lack of direction as yen firmsStocks rebound but struggle for momentumEquity markets were in a perky mood on Tuesday as a recovery on Wall Street helped Asian stock markets advance, although European shares were more mixed.
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Analysis - 3 days ago

Volatility returns to normal levels after US election calmness – Volatility Watch

Euro/dollar volatility edged higherVolatility remains low in the commodities spaceStock indices experience average volatility despite selloffEuro/dollar volatility has edged higher, as the dollar continued to gain from Trump’s recent win, pushing the euro/dollar pair to a one-year low. Interestingly, last week's change in Fed Chair Powell’s stance regarding the timing of the next rate cuts did not materially benefit the dollar.
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Analysis - 3 days agoNeutral

Technical Analysis – GBPUSD gains traction near familiar support area

GBPUSD bulls step in after six-month low near 1.2600Price near oversold area, but bullish area is above 1.3000GBPUSD returned to gains after a six-day decline squeezed it to a six-month low of 1.2595. The pair rebounded near an important trendline from October 2023, and indicators like the RSI and stochastic oscillator suggest the price is likely set for an upward move from oversold territory.Yet, buyers may not make additional moves until the price clearly crawls back above August’s base of�
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Analysis - 3 days agoNeutral

Technical Analysis – EURJPY correction halts at key support area

EURJPY is hovering around the 100-day SMAEURJPY bears have probably regained the upper handMomentum indicators are mostly mixed at this stageEURJPY is edging lower today, testing the support set by the 100-day simple moving average (SMA) and the 163.37-163.49 area. The rally from the mid-September low stopped at the March 7, 2022 upward trendline, with the 200-day SMA also proving strong resistance.
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Analysis - 3 days ago

Weekly Technical Outlook – EURUSD, GBPUSD, Gold

Gold shows recovery signs after aggressive selloffEURUSD pauses bear run near 1.0500. Will eurozone PMIs trigger a rebound?GBPUSD hopes for a bullish rotation amid busy data calendar US data, geopolitics --> Gold Gold attracted fresh safe-haven demand on Monday amid renewed geopolitical tensions during the weekend as Russia attacked Ukrainian power plants and the US approved Ukraine’s use of long-range US missiles to strike within Russia.While Trump has promised to end the war, uncer
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Analysis - 3 days agoBullish

Technical Analysis – USDJPY remains supported

USDJPY holds within bullish channelSellers wait below 153.00USDJPY found immediate support at the lower band of a bullish channel and returned to the 154.00 area on Monday, raising hopes that Friday’s notable pullback from a four-month high of 156.73 could be easily reversed.The technical indicators provide no clear direction, with the RSI moving sideways in the bullish area, and the RSI and the MACD decelerating. Still, as long as the floor near 154.00 holds, the focus may remain on the upsi
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Analysis - 4 days ago

Daily Comment – Gold edges up amid Ukraine tensions, stocks and dollar subdued

Gold rebounds as Biden lets Ukraine use long-range missiles on RussiaYen slips again after Ueda offers no clues on December hikeEquities mixed as Trump trade fadesUkraine war escalates as Biden U-turns on missilesThe conflict between Ukraine and Russia took a dangerous turn on Sunday after President Biden gave Kyiv the green light to use long-range US missiles inside Russia.
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Analysis - 4 days ago

Technical Analysis – NZDUSD bears try to escape a range

NZDUSD has been trading sideways for more than a yearBears try to push below the key support of 0.5855RSI and MACD detect bearish momentumFor the outlook to brighten, a move above 0.6220 may be neededNZDUSD has been falling since September 30, when it hit resistance near the 0.6370 zone, which stopped the bulls back in December 2023 as well. Overall, though, most of the price action had been contained between the 0.5855 and 0.6220 zones since July 2023, suggesting a neutral broader outlook.That
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