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Latest Analysis

Analysis - 51 minutes 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
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Analysis - 3 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.
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Analysis - 3 days 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.
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Analysis - 3 days 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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Analysis - 4 days 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 - 4 days 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 - 5 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 - 5 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 - 6 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 - 6 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 - 6 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 - 1 week 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 - 1 week 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 - 1 week 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 - 1 week 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 - 1 week 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 - 2 weeks 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 - 2 weeks 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 - 2 weeks 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 - 2 weeks 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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