Latest Technical Analysis

Analysis - 9 hours ago

Technical Analysis – WTI crude oil fails to clear the fog

WTI in neutral phase in short-termLong-term outlook still negativeMACD and stochastics show some positive singsWTI crude oil completed three straight negative days after the pullback from the long-term descending trend line. In the short- and medium-term timeframes, the market seems to be in a trading range with upper boundary the 78.75 resistance level and lower boundary the 67.00 round number.If the price remains below the 20- and 50-day simple moving averages (SMAs), another test of the 67.00

Analysis - 13 hours agoNeutral

Technical Analysis – Gold's upturn: Still not quite there

Gold stages a rebound in short-term timeframeUpturn is not convincing; bulls need to overcome $2,650 Gold has been showing some signs of life over the past couple of hours but don’t get too excited just yet. Despite the upturn in the price, this is not convincing enough to say the bulls are back in charge.The precious metal dipped below an upward-sloping channel on the four-hour chart, and while it’s trying to recover, there's a chance this is just part of a bearish flag pattern—mean

Analysis - 13 hours ago

Midweek Technical Look - US dollar index, Gold, WTI

US Dollar index returns sharply lower from 2-year high of 108.00Gold moves sideways after strong selling interestWTI crude oil finds significant turning point at downtrend line

Analysis - 13 hours agoNeutral

Technical Analysis – Ethereum rally moves up a notch

Ethereum trades at a five-month highIt has climbed above a key support levelMomentum indicators remain bullishEthereum continues to rally, undeterred by the broader fragile market sentiment due to geopolitics and Trump’s second term, and thus playing catch-up with bitcoin. November could be the first month that ethereum outperforms the king of cryptos since May.

Analysis - 15 hours agoBearish

Technical Analysis – EURJPY bears stay in control

EURJPY in the fourth week of lossesShort-term bias skewed to the downsideNext stop could be near 158.00EURJPY is set to post its fourth consecutive negative week, having retraced more than half of its September-October uptrend to reach the 159.00 level on Wednesday.The 61.8% Fibonacci retracement level of 159.55 came to offer some support, but it seems the bears are not ready to give up control.

Analysis - 1 day agoBullish

Technical Analysis – BTCUSD ends bearish correction near the 90,600 zone

· Bitcoin rebounds after hitting support near 90,600· This could mean that the bearish correction is over· A break above 100,000 could signal uptrend continuation· For the picture to turn bearish, a dip below 66,700 may be neededBTCUSD rebounded on Wednesday, after hitting support near the 90,600 zone on Tuesday.

Analysis - 2 days agoBullish

Technical Analysis – Will USDMXN extend its uptrend?

Technical Analysis – Will USDMXN extend its uptrend?USDMXN holds near November’s two-year highPrice trades within bullish channel; eyes on 21.00USDMXN recouped almost half of its four-year downtrend from the pandemic's top, and the positive trajectory could further strengthen following the latest bounce on the 20-day simple moving average near 20.20.Although Trump’s tariff threats helped the US dollar to steal ground from the Mexican peso, the bulls couldn't surpass November'

Analysis - 2 days agoBearish

Technical Analysis – USDCHF faces hurdles near recent highs

USDCHF takes a breather after hitting a four-month highBuying the dip has an advantage above 0.8750US core PCE inflation eyed for more volatility later todayUSDCHF lost momentum after its uptrend peaked at a four-month high of 0.8956 last Friday, and there could be more cloudy periods ahead according to the technical picture.With the RSI changing trajectory to the downside after topping near its 70 overbought level and the MACD sliding below its red signal line, the risk is more on the downsi

Analysis - 2 days agoNeutral

Technical Analysis – US 100 index rally loses steam

US 100 index trades sideways, a tad below its all-time highIt continues to battle with the August 5, 2024 trendlineMomentum indicators are modestly bullish at this stageThe US 100 cash index is trading sideways today, moving in parallel with the August 5, 2024 ascending trendline. Market sentiment is modestly bullish but quite fragile, as risky markets are trying to adjust to the latest developments in active conflict regions and the tariffs announcements by President-elect Trump.

Analysis - 2 days agoBullish

Technical Analysis – USDJPY meets 152.00 key level

USDJPY loses ground around 200-day SMARSI and MACD head southUSDJPY has declined considerably toward the 200-day simple moving average (SMA) around 152.10, with the potential to hit the short-term uptrend line before heading upwards again. The momentum oscillators are confirming the recent bearish movement. The RSI is pointing downwards, falling beneath the neutral threshold of 50, while the MACD is standing beneath its trigger line, losing some steam.Further declines could see traders meeting

Analysis - 2 days agoBullish

Technical Analysis – AUDCAD rebounds from near key uptrend line

AUDCAD rebounds after consolidating near key uptrend lineRSI and MACD are suggesting that momentum may be turning positiveA break above 50-day EMA could confirm more advancesFor the outlook to darken, a dip below 0.9015 may be neededAUDCAD rebounded on Tuesday, after hitting support near the uptrend line drawn from the low of September 27, 2023, and the 200-day exponential moving average (EMA).

Analysis - 3 days agoBullish

Technical Analysis – USDCAD falls from 4½-year high

USDCAD declines from 1.4100 againRSI moves horizontally below 70MACD still in bullish momentumUSDCAD has successfully broken the 1.4100 psychological mark earlier today, taking the market towards a fresh four-and-a-half-year high of 1.4176. The price rose around 1.5% only in just one 4-hour session but is currently turning lower.The RSI indicator is mirroring the latest pullback, flattening beneath the 70 level; however, the MACD oscillator is still extending its bullish momentum above its trigg

Analysis - 3 days agoBearish

Technical Analysis – NZDUSD falls to 1-year low ahead of RBNZ

NZDUSD hits fresh lows on US tariff threatsTechnical outlook remains gloomyRBNZ rate decision due on Wednesday at 01:00 GMTNZDUSD plunged to a one-year low of 0.5795 early on Tuesday following Trump's renewed tariff warnings against Canada, Mexico, and China, but it soon managed to recoup its losses and return above the 0.5800 level.The short-term outlook remains negative.

Analysis - 3 days agoBearish

Technical Analysis – GBPUSD plunges near 6-month low

GBPUSD falls for 8 consecutive weeks20- and 200-day SMAs post death crossMACD and RSI suggest more lossesGBPUSD recorded the eighth straight negative week after the pullback from the 1.3433 level, losing more than 7%. The price posted a fresh six-month low of 1.2486 on Friday, meeting the long-term ascending trend line.More aggressive selling interest would switch the broader outlook to a bearish one, resting near the 1.2445 support, taken from the lows on May 9. Even lower, the bears would gai

Analysis - 3 days agoBullish

Technical Analysis – US 500 index bulls hold control above 6,000

US 500 rebounds from uptrend lineRSI approaches 70 level; MACD tries to surpass its trigger lineThe US 500 cash index is creating the sixth consecutive green day, following the bounce off the short-term uptrend line and the 5,855 support level. The price is currently approaching the previous all-time peak of 6,052 and the 161.8% Fibonacci extension

Analysis - 4 days agoNeutral

Technical Analysis – Gold stalls near 2,700. Is it losing its shine?

Gold switches to loses before reaching all-time highA consolidation phase likely in the short-term Gold felt Monday's blues, retreating immediately toward its 20-day simple moving average (SMA) at 2,670 after five consecutive winning days.The pullback in the price is now raising concerns about whether the metal will form a lower high in the coming sessions.

Analysis - 4 days ago

Weekly Technical Outlook – NZDUSD, USDJPY, EURUSD

RBNZ to cut rates again with NZDUSD remaining in negative territoryUS core PCE may give some clues for the next Fed meeting; USDJPY near 155.00Eurozone flash CPI on the agenda; EURUSD tumbles 5% in three weeksRBNZ decision --> NZDUSDThe RBNZ is expected to cut rates by 50 bps on Wednesday. Formerly recognized for its aggressive stance during the global tightening cycle, it executed a significant policy reversal over the summer by initiating a loosening campaign before the Fed's comme

Analysis - 6 days agoBullish

Technical Analysis – BTCUSD historic rally flirts with 100k

BTCUSD nonstop rally almost reaches 100kCaution needed as market looks overbought BTCUSD (Bitcoin) is experiencing one of its best moments in its history, having rocketed by 40% to reach an all-time high of 98,670 in just a month as investors swallowed Trump’s promising crypto regulatory pledges and at the same time sought safety against a complex global geopolitical landscape.From a technical perspective, the recent rally followed the completion of a bullish pennant formation.

Analysis - 1 week agoNeutral

Technical Analysis – USDCAD trades higher, bounces off a key trendline

USDCAD is edging higher today, a tad above 1.3977It bounced off the September 25, 2024 trendlineMomentum indicators are gradually turning bearishUSDCAD is edging higher today, trading a tad above the October 13, 2022 high at 1.3977. CAD bulls’ latest attempt to push USDCAD below the September 25, 2024 ascending trendline failed, with the pair quickly climbing higher.

Analysis - 1 week agoBearish

Technical Analysis – AUDUSD rangebound in quiet trading

AUDUSD holds steady within 0.6500 zoneTechnical picture remains gloomy below 0.6630AUDUSD has largely ignored the swings in the US dollar this week, staying relatively stable within the 0.6500 area and slightly above its recent three-month low of 0.6439.There is not much evidence of strong buying appetite at the moment as the RSI is pointing down in the bearish area below 50 and the stochastic oscillator is set for a negative reversal.

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