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Latest Analysis

Analysis - 18 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 - 23 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 - 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 - 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 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 - 4 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 - 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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Analysis - 4 days 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 - 1 week 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 - 1 week 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 - 1 week 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 - 1 week 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 - 1 week 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 - 1 week 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 - 1 week 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 - 1 week 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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