The Nasdaq breakout has now cleared the August highs and exposes a key resistance zone just higher at 14327/49.
Initial support now 13242 with bullish invalidation raised to the February highs at 12880.
Tread lightly here, this thing has rallied 8 of the last 10 weeks- threat for a near-term washout is ripe. .
Michael Boutros, Sr Technical Strategist with...
EUR/CAD clears the April low (1.4580) after struggling to push back above the 50-Day SMA (1.4753), and the exchange rate may continue to give back the advance from the March low (1.4383) as it extends the series of lower highs and lows from the start of the week.
EUR/CAD Rate Outlook
EUR/CAD appears to have reversed course following the failed attempt to clear...
ETH/USD trades in a narrow range after bouncing back from a fresh monthly low ($1741), but lack of momentum to hold above the 50-Day SMA ($1828) may lead to a further decline in the price of Ethereum as it fails to mirror the price action from March.
ETH/USD Outlook
ETH/USD quickly recovered in March to track the positive slope in the moving average, but...
At the time of writing, WTI was up around 2.5% on the session, making good its entire losses from the day before and some. Is this the start of a major recovery in oil prices?
US Gasoline demand soars
Oil prices initially sold off on the back of inventories data showing a big build in US commercial stocks. WTI has since bounced back to rise to a new session...
EUR/AUD bounce along the 50-Day SMA (1.6282) as it holds within last week’s range, and the exchange rate may attempt to retrace the decline from the yearly high (1.6786) should it track the positive slope in the moving average.
EUR/AUD Rate Outlook
EUR/AUD appears to be stuck in a narrow range after failing to extend the series of higher highs and lows from...
USD/MXN has broken the yearly opening-range with price now probing below the 2017 lows at 17.4515 - watch the weekly close.
A break lower keeps the focus on the 2016 lows, which converge on the 25% parallel near ~ 17.0505 .
Resistance eyed with the median-line / February low close around 17.9490
Michael Boutros , Sr Technical Strategist with...
EUR/JPY slipped to a fresh monthly low (146.13) last week as it pushed below the opening range for May, but the exchange rate may track the positive slope in the 50-Day SMA (144.90) as long as it holds above the moving average.
EUR/JPY Rate Outlook
EUR/JPY appeared to be on track to test the moving average as it registered a four-day selloff for the first time...
EUR/CAD carved a series of lower highs and lows following the failed attempt to test the April high (1.5113), but the exchange rate appears to be bouncing back ahead of the April low (1.4580) as it snaps the bearish price action carried over from last week.
EUR/CAD Rate Outlook
EUR/CAD may mirror the price action from last month amid the failed attempt to...
Some of the key commodity prices like copper, crude, gold and silver have fallen sharply today, because of two reasons. A rebound in US dollar has hurt buck-denominated assets, while concerns over China have weighed on the demand outlook for certain commodities. Both of these factors are unlikely to hold gold back from reach another record high, soon.
The latest...
The price of gold carves a series of higher highs and lows as it bounces back ahead of the monthly low ($1977), and bullion may continue to outperform bitcoin as BTC/USD takes out the April low ($26981).
Gold Price Outlook
The positive relationship between the price of gold and bitcoin has unraveled as the correlation coefficient current stands at...
AUD/JPY cleared the March high (92.25) as it bounced back ahead of the April low (87.60), and the exchange rate may attempt to test the February high (93.05) as it rebounds from the 50-Day SMA (89.45).
AUD/JPY Rate Outlook
AUD/JPY bounces back ahead of the weekly low (90.93) while the S&P 500 index trades to a fresh weekly low (4116), and it seems as though...
We first highlighted the threat for topside exhaustion in EURUSD back on May 1st - "Euro has broken multi-week channel support after failing to secure a breach of key resistance at 1.1033/70 ."
Five-subsequent attempts to breach this range have failed with price testing the monthly opening-range lows today - looking for a breakout of this range for guidance...
EUR/JPY may attempt to retrace the decline from the monthly high (151.62) as it snaps the series of lower highs and lows from last week, and the exchange rate may stage further attempts to test the March 2008 low (151.69) as long as it holds above the monthly low (147.13).
EUR/JPY Rate Outlook
The recent weakness in EUR/JPY triggered a sell signal in the...
EUR/CAD seems to have staged a failed attempt to test the April high (1.5113) as it snaps the series of higher highs and lows from the start of the week.
EUR/CAD Rate Outlook
EUR/CAD gives back the advance from the monthly low (1.4841) following the European Central Bank (ECB) interest rate decision, while the Relative Strength Index (RSI) diverges with price...
GBP/USD continues to hold below the June 2022 high (1.2617) following the Federal Reserve interest rate decision, with the central bank delivering another 25bp rate hike while taming speculation for lower interest rates ahead of 2024.
GBP/USD Rate Outlook
GBP/USD registered a fresh yearly high (1.2590) as it retraced the decline from the start of the week, but...
• FOMC raises interest rates by 25 bps as expected, unanimous decision
• Policy statement no longer says “some additional policy firming may be appropriate”
• Dovish hike, but was it expected?
So, there you have it then: the Fed hikes by 25 basis points as had been highly anticipated. But by removing a key line from the statement that “some additional policy...
The recent advance in EUR/JPY appears to have stalled ahead of the March 2008 high (151.69) as the Relative Strength Index (RSI) slips below 70 to indicate a textbook sell signal.
EUR/JPY Rate Outlook
EUR/JPY halts a three-day rally as it falls back from a fresh yearly high (151.62), with the opening range for May in focus as the exchange rate registered the...
USD/CAD has continued to coil within the confines of a massive multi-month consolidation pattern - with the yearly opening-range intact heading into May trade.
Key event risk on tap this week with the FOMC rate decision followed by US & Canada employment figures on Friday- expect volatility.
Resistance eyed at 1.3688 backed by slope resistance/ the yearly...
