Cryptocurrencies benefit from Trump’s winEthereum finds resistance at the 200-day SMAMomentum indicators confirm the bullish pressure Ethereum has been benefiting from the outcome of the US presidential election by recording strong gains and returning above the 2,810 area for the first time since early August. It managed to overcome some key levels on its way higher, including the key May 27, 2024 descending trendline, with the rally pausing at the 200-day simple moving average (SMA).

GBPJPY retreats somewhat, but broader picture remains positiveMomentum oscillators suggest declinesGBPJPY retreats after several attempts to touch the 200.00 round number, but the short-term bias remains positive.From a technical perspective, there is a growing risk of a negative correction. The stochastic oscillator is pointing south, ready to post a bearish crossover, while the RSI is ticking down near the neutral threshold of 50.If GBPUSD extends its rally above the 199.70 resistance, the 200

AUDCAD triggers buy orders near key support crossroadsRSI and MACD corroborate the positive momentum shiftA break above 0.9370 could allow extensions towards 0.9550A dip below 0.9015 could turn the outlook bearishAUDCAD rebounded on Wednesday, from near the crossroads of the 200-day exponential moving average (EMA) and the uptrend line drawn from the low September 27. Although the pair is pulling back today, the technical picture suggests that the bulls could take charge again very soon.Both the

USDCAD posts new 25-month high but currently stands beneath itStochastics and RSI show positive signsUSDCAD has been developing above the 20-day simple moving average (SMA) since the bounce off the 1.3815 support level and is trying to regain ground.Daily oscillators suggest that the upside momentum is still in place, reflecting the pullback in the market.

GBPUSD hits a new two-month low as Trump wins White HouseShort-term outlook remains bearish; focus on 200-SMA for potential supportBank of England, Fed announce their rate decisions today GBPUSD took a sharp dive to a two-month low of 1.2833 on Tuesday as the return of Trumponomics gave fresh impetus to the greenback.On Wednesday, the 50% Fibonacci retracement level of the April-September rally came to support the market ahead of the BoE and Fed rate decisions, but with the price failing to hol

EURCHF trades in a tight rangeThe medium-term bearish trend is still validMomentum indicators prepare for the next leg EURCHF is edging higher today, testing the resistance set by both the 0.9394-0.9403 area and the May 27, 2024 downward slopping trendline. EURCHF has been trading in a tight range over the past few sessions, inside the developing contracting triangle pattern, as the bulls have failed to materially benefit from a barrage of positive euro area data.This reduced volatility is ref

Gold loses ground but bullish phase intactMACD and RSI head southGold prices tumbled to a fresh almost three-week low of 2,701 but are currently recouping some losses, flirting with the 2,725 support level. A closing session beneath the 2,710-2,716 region could find strong support at the 200-period simple moving average (SMA) at 2,685. Steeper decreases may open the way for a bearish tendency in the short term, hitting the 2,673 bar.In the positive scenario, a return to the upside may take the b

AUDUSD is well in the red todayStrong resistance set by the 200-day SMAMomentum indicators are mostly bearishAUDUSD is trading lower today, reacting to the news that former president Trump has probably secured a second term in the White House, with today’s price action almost entirely canceling out Tuesday’s upleg, which was caused by the hawkish RBA meeting.

USDJPY hits fresh highs as Trump wins battleground statesResistance of 153.80-154.00 still in playUSDJPY soared to a new three-month high of 154.36 as Donald Trump won Pennsylvania, Georgia, and North Carolina. Technically, the pair found solid support near its 20-day exponential moving average (EMA), keeping its upward trend in safe place.That said, the day is not over yet, and the 153.40-154.00 barrier is still under examination.

US 30 index extends upside move above SMAsStochastics and RSI turn upThe US 30 cash index is rallying more than 2% today during Trump’s victory in the US elections, sending the market towards the previous all-time high of 43,575.The technical oscillators are mirroring the latest strong bullish momentum, with the stochastic posting a positive

BTCUSD capped by its 20-period SMA at 68,625.Price trapped in short-term bearish channelA surge above 70,000 could shift the bias to positiveBTCUSD (Bitcoin) has been sailing in choppy waters since the peak at a seven-month high of 73,609 recently finding a footing at the lower boundary of a bearish channel in the four-hour chart.As Election Day unfolds in the US, there’s growing speculation that a potential Trump victory might provide a tailwind for cryptocurrencies.

AUDUSD claims 0.6620 zone after fast rallyShort-term bias positive, but there are more threats higherStochastics and RSI in bullish modeAUDUSD has been gaining some ground over the last week, testing the 0.6620 resistance level. The price managed to surpass above the 20- and 50-period simple moving averages (SMAs) in the 4-hour chart with the momentum oscillators experiencing an upside movement.

EURUSD eyes breakout above 1.0880-1.0900 for further gainsRecent rebound is not enough to upgrade short-term outlookA strong rally above 1.1000 needed for bulls to seize controlEURUSD kicked off the US election day on a cautiously positive note, aiming to cross above the 1.0880-1.0900 border that has been capping bullish momentum over the past three sessions.

EURJPY attempts to rebound from 50.0% FibonacciFaces rejection at 3-month high but remains positiveMomentum oscillators remain cautiously titled to the upsideEURJPY is still standing above the 200-day simple moving average (SMA) and the 50.0% Fibonacci retracement level of the downward wave from 175.37 to 154.40 at 164.80. The market added more than 7% after the pullback from the 155.15 support level, creating a bullish tendency in the short term.Technically, the MACD is moving above its trigge

US 500 index rebounds off 50-day SMARSI and MACD weaken their momentumThe US 500 index has paused its bearish correction near the 5,720 support level and the 50-day simple moving average (SMA).The price is currently standing beneath the short-term uptrend line, with the technical oscillators indicating weakening momentum. The RSI is moving sideways beneath the neutral threshold of 50, while the MACD is heading south below its trigger line and near the zero level.In case of steeper decreases, it

The US election is here! Will USDJPY continue its upward momentum?EURUSD takes a U-turn before the Fed's policy announcementGBPUSD stays trapped below 1.3000 as the BoE rate decision looms2024 US election --> USDJPY November 5 will be a sleepless day in the US as voters will finally head to the polls to elect the next president. The battle between the Republican Donald Trump and the Democrat Vice-President Kamala Harris has been hanging in the balance, and any outcome is possible, despi

Gold is trading sideways, well below its recent highVolatility remains elevated ahead of the US electionMomentum indicators remain mostly bullishGold is trading sideways today and thus failing to forcefully react to the two negative sessions that pushed it well below its all-time high of 2,790. Month-end portfolio reallocations and profit taking could explain last week’s price movements, with the market now preparing for Tuesday’s US presidential election.

WTI crude oil runs to 71.00 critical level near downtrend lineMomentum oscillators reflect positive biasWTI crude oil prices recovered the bearish gap that was created in the preceding week and is currently testing the medium-term downtrend line near 71.00.The price has added more than 6% over the last couple of days with the technical oscillators mirroring the latest upward wave.

EURJPY tumbles from 3-month high ahead of BoJ policy meetingUS 500 posts notable losses near 5,800Gold slips from all-time high but remains above ascending channel

US 500 index stands below 20-day SMAMACD and RSI lose momentumThe US 500 (cash) index is tumbling beneath the 5,830 region, approaching the short-term uptrend line, which has been drawn since the beginning of August. A plunge below this line could send traders towards the 50-day simple moving average (SMA) at 5,740 before meeting the restrictive re