Bearish reversal patterns generated by USD/CAD on the daily timeframe have enjoyed a decent track record recently, especially following a pronounced bullish trend. That makes today's early price action interesting, with the price reversing hard after closing at fresh 2024 highs on Friday.
As the daily candle has yet to be competed, getting short pre-emptively...
The picture for Australian ASX 200 SPI futures look good if you're a bear.
We've seen a bearish engulfing candle on Wednesday with follow-through selling today, accompanied by an uptick in volumes. Momentum indicators are providing bearish signals, too.
But it is month-end and the price does find itself sitting on the 50DMA, a level that has been respected...
AUD/JPY looks primed for downside.
The price has broken the uptrend it's been sitting in since late September. RSI (14) is trending lower with the bearish signal confirmed by MACD. And one look at the topside wicks above 101.00 suggests sellers are lurking and unwilling to budge.
If the price manages to close beneath the uptrend, you could sell with a stop...
USD/JPY remains a play on the US interest rate outlook, sitting with an incredibly strong correlation with US two-year Treasury note futures of -0.98 over the past fortnight. When short-dated US debt futures have moved in a particular direction, USD/JPY has almost always done the opposite, mirroring US Treasury yields.
With there's no obvious reversal pattern...
EUR/AUD closed above the 50-day moving average on Friday after a successful break of 1.6318.
After opening Monday marginally higher, the price pushed lower to retest 1.6318 before bouncing strongly towards the European open, providing the framework for the bullish setup.
It’s not appealing from a risk-reward perspective to buy around these levels with the...
The Swiss franc has held up remarkably well this week despite some of the G10 FX moves against the USD.
Sitting in a rising wedge, it was rejected at uptrend resistance on Wednesday, deliver an inverse candle on the daily. The price now finds itself resting on uptrend support and looks heavy. RSI (14) has diverged from price but the bearish signal on momentum...
Higher US Treasury yields has propelled USD/JPY through the 200DMA and 151.95, the latter an important technical level corresponding with prior episodes of Bank of Japan intervention.
If it manages to hold above 151.95, traders could consider buying the break with a tight stop either below it or the 200DMA for protection. There's little visible resistance...
Whether it reflects US economic exceptionalism reducing the need for large-scale rate cuts from the Federal Reserve or improved prospects for Donald Trump winning the US Presidential election, or a combination of both, it’s obvious the US interest rate outlook is dictating direction across FX markets.
Higher US yields are sucking capital from other parts of the...
Bitcoin’s break of downtrend resistance has opened the door for a run towards the record highs set in March, especially with the price action today suggesting the break will stick.
Even though RSI (14) is nearing overbought territory, both it and MACD continue to offer bullish signals on momentum. One look at historic price patterns also tells you overbought...
Thursday's bearish engulfing candle has seen the price move below 1.6188, a level that has acted as both support and resistance over recent weeks.
If the price can remain beneath this level into the European open, consider shorting below with a stop above for protection.
The initial target would be 1.6115. If that were to give way, a retest of 1.6000 could be...
Join Strategist David Song to cover the key event risk that could influence financial markets in the week ahead. Discuss major fundamental themes along with current market developments.
Sr. Technical Strategist Michael Boutros (@MBForex) highlights the targets & invalidation levels that matter on the technical charts into the weekly-open.
Join Strategist David Song to cover the key event risk that could influence financial markets in the week ahead. Discuss major fundamental themes along with current market developments.
Sr. Technical Strategist Michael Boutros (@MBForex) highlights the targets & invalidation levels that matter on the technical charts into the weekly-open.
Join Strategist David Song to cover the key event risk that could influence financial markets in the week ahead. Discuss major fundamental themes along with current market developments.
Sr. Technical Strategist Michael Boutros (@MBForex) highlights the targets & invalidation levels that matter on the technical charts into the weekly-open.
Join Strategist David Song to cover the key event risk that could influence financial markets in the week ahead. Discuss major fundamental themes along with current market developments.
Sr. Technical Strategist Michael Boutros (@MBForex) highlights the targets & invalidation levels that matter on the technical charts into the weekly-open.
