NZD/USD struggled above .5700 recently, but now that it’s pushed through, maybe the opposite will hold true. Price action around today’s RBNZ decision—where the bank delivered a third straight 50bp cut and flagged at least two more, possibly three—suggests it might.
The post-decision dip below .5700 was snapped up quickly, casting doubt on the bearish signal from...
Despite the Euro recent appreciation since February 11—gaining more than 2% —a new bearish bias has appeared, triggering a minor downside correction.
The temporary strengthening of the U.S. dollar is occurring as markets await the release of the Federal Reserve meeting minutes scheduled for tomorrow.
Possible New Trend Formation
The recent upward movement...
Gold is caught between a rock and a hard place, as it holds above the technically-important $2,900 level. On the one hand, the existing bullish momentum means traders are happy to continue buying every dip they can get their hands on – which looks to have again been the case after Friday’s dump. But on the other, speculation is running high, and many traders would...
Gold has retested the record high of 2,940 twice, raising concerns about a potential double or triple-top formation, as the RSI hovers near overbought levels last seen in November 2024—after which Gold retreated nearly 100 points.
However, the latest price action still indicates strength to the upside, driven by haven demand amid unresolved negotiations...
With disappointing earnings from major names like Westpac and BHP in recent days, and with more than three rate cuts priced for this year, ASX 200 SPI futures look vulnerable to downside heading into today’s RBA policy decision.
They’re now testing major uptrend support—a level that has attracted buyers in recent months. While it’s holding for now, the technical...
The Australian dollar has been rising, gaining around 1.5% over the past three sessions against the U.S. dollar. The current bullish movement continues as the market awaits the Reserve Bank of Australia's (RBA) decision in the coming hours. The RBA is expected to cut interest rates by 25 basis points , bringing the new rate to 4.1%.
However, the market has...
Over the past four trading sessions, USD/MXN has declined by more than 2% in favor of the Mexican peso. The current bearish move has brought the price closer to the lower boundary of the existing sideways range seen on the chart.
This recent selling pressure has been driven by mixed U.S. inflation data released last week and the lack of volatility in the U.S....
On the 3-Day time frame, the relative strength indicator appears to be forming an inverted head and shoulders pattern formation below the 50 neutral zone.
This pattern could boost bullish momentum above both the 50 level and 1.2630 threshold - pushing the RSI towards the 60 zone and testing the 1.28 resistance level. This setup aligns with the trendline...
USD/CAD is trading heavy ahead of Canada’s inflation report, weighed down by softer US economic data and fading sticker shock from US trade policy headlines. With Canadian data impressing at rates not seen since mid-2024 and January’s steep reversal from 22-year highs increasingly resembling a cyclical top, the key question now is whether this marks the start of a...
USD/CHF has dropped more than 1.7% over the past two trading sessions as the U.S. dollar continues to weaken. So far, selling pressure on the U.S. currency remains strong, following disappointing retail sales data, which showed a -0.9% decline compared to the expected -0.2%. This has fueled concerns about a potential economic slowdown in the U.S.
Meanwhile, the...
Gold has turned lower on the session - making for a more interesting end to the week. Indeed, the markets have been quite intriguing this week, with the US dollar at the centre of the action. Despite hotter-than-expected inflation data, the greenback softened following Trump’s more measured stance on tariffs, while the euro found support amid his expressed...
During the last session, the SPX 500 index gained more than 1.2% following the release of PPI data in the United States. The core PPI (m/m) remained in line with expectations at 0.3% , providing a slight relief to the market, which had been on the edge after annual CPI inflation came in at 3.0%, exceeding the 2.9% forecast.
This mixed inflation data has...
I think there is a good case for gold to correct itself in the not-too-distant future, but a confirmed reversal stick needs to be formed for me to turn bearish on XAU in short-term outlook.
With Trump declaring that he will end the wars in the Gaza and Ukraine, one could argue that haven demand is going to drop back if he achieves those goals. What’s more, his...
AUD/JPY is making another attempt to break downtrend resistance dating back to the highs struck in July last year. With momentum indicators such as RSI (14) and MACD turning bullish, this attempt may prove more successful than January’s failed breakout.
The intersection of the downtrend with minor horizontal support at 96.80 looms as a key level in assessing...
Chart Analysis:
USD/CAD is showing signs of weakness, having dipped below the key 1.4300 support level, putting further downside into focus.
1️⃣ Breakdown Below Support:
The 1.4300 level, which previously acted as strong support, has now failed.
Sustained trading below this level could accelerate bearish momentum.
2️⃣ Moving Averages Tilting Bearish:
50-day...
Chart Analysis:
USD/MXN remains stuck in sideways consolidation, with price action respecting both rising trendline support and overhead resistance at 20.80.
1️⃣ Support and Resistance Levels Holding:
Key resistance at 20.80 has repeatedly capped rallies, preventing a breakout.
Trendline support near 20.40 continues to hold, but a breakdown could open the door...
Chart Analysis:
USD/JPY finds support at the 38.2% Fibonacci retracement level (151.50), leading to a sharp recovery above the 200-day SMA.
1️⃣ Fibonacci Retracement Levels Holding:
The recent pullback tested key Fibonacci retracement levels, with buyers stepping in at 151.50 (38.2%).
Further support levels sit at 149.23 (50%) and 146.95 (61.8%), which remain...
The USD/JPY extended its rally following the release of hotter-than-expected US CPI data, which fuelled a surge in bond yields and strengthened the dollar. Headline CPI rose 0.5% month-over-month, surpassing the expected 0.3%, while Core CPI climbed 0.4% versus the 0.3% forecast. On an annual basis, CPI reached 3.0% and Core CPI hit 3.3%, both above expectations....
