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Latest Analysis

Analysis - 10 hours 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 - 18 hours 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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Analysis - 18 hours agoNeutral

Technical Analysis – Gold bulls make a move; need access above 2,600

Gold makes recovery attempt after aggressive sell-offTechnical signals welcome a bullish pivot but there is a wall at 2,600Gold bounced up on Monday with scope to test the 2,600 round level after its two-week freefall paused near the constraining zone of 2,545.The precious metal has retraced half of its record rally from June to October and signs of an oversold market are beginning to emerge, with the RSI and the stochastic oscillator currently looking for a pivot near 30 and 20 respectively.
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Analysis - 4 days agoNeutral

Technical Analysis – WTI oil: Will It break or bounce?

WTI oil futures continue to flatline near a critical support areaBullish trend reversal is a long way above 77.80 WTI oil futures kept their footing above the 67.00-68.00 support region for the third time since the current sideways trajectory began in September. This base has been a strong source of buying in 2021 and 2023 too. Hence, as long as it holds, there’s hope for a bounce back.But excluding the recent green bullish doji candlestick and the oversold signals coming from the Stochasti
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Analysis - 4 days ago

Technical Analysis – USDCAD: What’s next after a four-year high?

USDCAD snaps long-term range above 1.4000Bulls may take a breather; overall outlook remains bullishUSDCAD enjoyed a lovely session on Thursday, and it even found fresh buying interest to tick to a new four-year high of 1.4070 on Friday after a four-day nonstop rally.Technically, the pair broke through the trendline resistance zone around 1.4040, now acting as support, sparking renewed optimism that a new bullish cycle is underway.
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Analysis - 4 days agoNeutral

Technical Analysis – Tesla’s stock: Are the bears going to fire back?

Tesla stock takes a breather after an impressive election bull runOverbought conditions detected; sellers eye 320 support levelTesla’s stock shifted to the sidelines after its electrifying election-driven rally halted near a two-and a half year high of 357.The doji candlestick pinned at the top of the 70% bull charge and the overbought signals coming from the RSI and the stochastic oscillator foresee a change in market sentiment. Yet, for the bears to take control in the short-term, the pr
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Analysis - 5 days agoNeutral

Technical Analysis – Ethereum rally takes a breather

Ethereum hovers above a key support levelProfit-taking put a stop to the recent rallyMomentum indicators could turn bearish soonEthereum has benefited from Trump’s win, reaching a four-month high, but it failed to close above the 3,500 level and thus remains quite far from its March 2024 high. The 20% post-US election rally triggered some profit-taking, pushing ethereum lower towards the 3,114 area.
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Analysis - 5 days agoNeutral

Technical Analysis – NZDUSD gets closer to a new 2024 low

NZDUSD continues its sell-offPost-US election reaction dictates price actionMomentum indicators have turned bearishNZDUSD is edging lower again today, recording its fifth consecutive red candle, and keeping the bearish trend from the September 30, 2024 trendline intact. NZDUSD has easily broken below the key October 24, 2023 ascending trendline, and it is now trying to achieve a daily close below by the 0.5870 level. The latest move is the combined result of the US presidential election boosti
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Analysis - 5 days agoBearish

Technical Analysis – AUDUSD remains in the red; sellers seem cautious

AUDUSD charts new low after disappointing jobs dataShort-term outlook remains bearish; sellers eye 0.6470 supportAUDUSD continues its bearish slide, hitting a three-month low of 0.6458 in the wake of weaker-than-expected Australian jobs data early on Thursday.Having slumped below the key support trendline that delivered two impressive bullish cycles earlier this year, the pair might be at risk of a bearish continuation, though with the price returning above the August base of 0.6470, hesitation
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Analysis - 5 days ago

Midweek Technical Look – EURUSD, GBPUSD, Gold

EURUSD looks for direction near 1.0600 after steep sell-off to 1-year lowGBPUSD tumbles to 3-month low; near oversold levelsGold reverses October’s rally; set for some consolidation  
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Analysis - 5 days agoNeutral

Technical Analysis – US 500 show signs of fatigue

US 500 stock index flatlines near all-time highOverbought signals detected, price trades near key resistanceThe US 500 stock index held steady near its all-time high of 6,027 for the second consecutive day after the headline US CPI inflation data came in line with expectations, showing a modest increase of 2.6% year-on-year.Technically, the latest rally halted near the ascending line which connects the highs from July 2023 and July 2024 and the 161.8% Fibonacci extension of the July-August dow
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Analysis - 6 days agoBullish

Technical Analysis – USDJPY stretches uptrend into 155 area

USDJPY resumes uptrend, unlocks 3½-month highShort-term bias is positive; July’s barrier could pose a testUSDJPY broke into the 155.00 territory for the first time since July, reigniting optimism that the upleg which started in mid-September has more room to run.That said, the pair seems to be facing an obstacle near the 155.20 level – the same zone that sparked a sharp downfall at the end of July.
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Analysis - 6 days agoNeutral

Technical Analysis – JP 225 index hits wall again at 78.6% Fibonacci

JP 225 index trades sideway after failing to overcome 78.6% FibonacciTechnical indicators are mixed but price is above moving averages The JP 225 stock index (cash) is trading slightly below the 78.6% Fibonacci retracement of the July-August downtrend after the second false breakout since October last week. The 40,000 region is proving a difficult barrier to overcome.
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Analysis - 6 days ago

Technical Analysis – EURGBP sell off takes a breather

EURGBP is in the green today, a tad below 0.8340Euro bulls are trying to recover some of their recent lossesMomentum indicators have turned bearishThe bulls’ failed attempt to push EURGBP above the 100-day simple moving average (SMA) in early November resulted in a protracted sell off, which got an extra boost after Trump’s win. The continued ECB dovishness coupled with the negative newsflow from Germany have also contributed to EURGBP trading at the lowest level since March 2022. EURGBP is
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Analysis - 1 week ago

Technical Analysis – USDCHF struggles at 200-day SMA

USDCHF has been rallying since end of SeptemberMACD and RSI seem to be strongly positiveUSDCHF is finding immediate strong resistance at the 200-day simple moving average (SMA) at 0.8816, recording a new three-and-a-half-month high. The momentum oscillators are confirming aggressive buying interest in the market, as the MACD is strengthening its
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Analysis - 1 week agoBearish

Technical Analysis – EURJPY takes a bearish turn

EURJPY moves sideways, but technical signals point to more downsideSupport could come near 162.25; bulls need a break above 165.70EURJPY continued to trade quietly within the 163.00 range for the second consecutive day, but despite the lack of momentum in the price, the technical signals suggest that further downside could be on the horizon.The pair broke below a key short-term support trendline last week and slipped beneath both its 20-day and 200-day simple moving averages (SMAs), signaling t
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Analysis - 1 week agoNeutral

Technical Analysis – Has the US 100 index rally run its course?

US 100 index trades a tad below its all-time highThe US election rally appears to have fizzled outMomentum indicators remain bullish at this stageThe US 100 cash index is moving sideways again today, as the rally since the US presidential election date appears to have concluded. A new all-time high has been recorded, but the bulls have failed, up to now, to push the US 100 index above the long-term January 6, 2023 trendline. Market participants are probably taking a breather and preparing for
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Analysis - 1 week agoNeutral

Technical Analysis – GBPUSD gives strong battle with uptrend line

GBPUSD holds in tight range in near termMACD and RSI tick lowerGBPUSD is flirting with the long-term ascending trend line after the downfall from the 1.3045 resistance level. The next crucial point for traders to meet is the 1.2840 support and the 200-day simple moving average (SMA) at 1.2820.According to technical oscillators, the RSI is pointing
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Analysis - 1 week agoNeutral

Technical Analysis – Gold consolidates below uptrend line

Gold continues to struggle post the US election50-day SMA stands ready to defend the bullsMomentum indicators are mixedGold is edging lower for a second day after its upside attempt faced resistance at the short-term ascending trendline. The precious metal hit a three-week low of 2,643.26 last week in the aftermath of Donald Trump winning the US presidential election.The near-term outlook is unclear, however, as the stochastic oscillator is recovering from oversold levels, but the RSI is pointin
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Analysis - 1 week ago

Weekly Technical Outlook – US 500, GBPUSD, USDJPY

USDJPY in upside mode, eyes first US CPI after Trump's electionUK GDP data to slow down as GBPUSD eases Japan GDP may be the key data to drive USDJPY lowerUS CPI --> US 500The US CPI data for October, which is coming out on Wednesday, is the initial post-election test for rate reduction bets after Trump’s victory in the US elections in the previous week.
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