We've been waiting for a breakout in GBPJPY for some time and recently, the closing in of the moving average bands have given the impression that it's not far away.
While the descending trend line above gives the impression that a break below is a little more likely than above, this is a trend that's formed over a very long period of time, which arguably make it...
The last four months have seen the euro fall quite considerably again the dollar, down more than 6% in that time.
Rising US yields in recent months have contributed to the rally in the dollar, as has risk aversion in recent weeks, but how much more can we expect?
In many ways, that depends on how much policymakers are willing to tolerate, both in terms of...
EURJPY has been trading sideways for a few months now, with support around 128 and resistance 130.50.
While there's nothing to suggest the pair will break out in either direction yet, we may soon see the lower end come under some pressure.
We've seen some consolidation in the pair over the last week and it's now approaching key fib levels of the recent highs and...
It's been another rough day for the Nasdaq, with the index sliding more than 2% and leading the way lower in the US.
As central banks prepare to pull back on pandemic stimulus measures, investors are starting to get nervous and it seems big tech is viewed as being most sensitive to it.
It doesn't help that central banks are doing this at a time when the global...
The rally in UK stock markets has looked vulnerable for some time and with investors seemingly getting nervous in recent weeks, leading to some interesting pullbacks, a larger correction could lie ahead.
A break below 7,000 a couple of weeks ago could have triggered a much steeper decline but the index ran into strong support around 6,800 where the 200/233-day...
Cable finally broke through its summer lows on Tuesday and further losses may be on the cards.
The pair appeared to be shaping up for such a move last month after bouncing off a key fib level and breaking through the 200/233-day SMA band. But it dragged its feet a little after failing to make new lows on multiple occasions.
Still, the move finally came as the...
A shallow correction is all the euro could manage earlier this month and since then, the dollar has been back in control.
The pair finally made new lows today which could potentially be the catalyst for much larger losses. But major support lies beneath.
The 200/233-week SMA band sits a little below 1.16 and a break of this would be a significant bearish...
Gold continued to fall on Tuesday, breaking below $1,740 and further losses could be on the cards.
The yellow metal has come under significant pressure as central banks have prepared the markets for the end of pandemic era stimulus and even rate hikes as early as next year.
Even higher inflation hasn't tempted traders back in, despite its reputation as a hedge,...
The rally in USDCAD has lost momentum over the last couple of months, perhaps a sign that the correction is drawing to a close.
The pair only recently broke above the 200/233-day SMA band, giving the impression that the correction had only just started. But then it failed to make a new high last week and now it's testing that same moving average band from...
The next few weeks will be interesting in GBPUSD with the pair seeing the currencies of two central banks intent on tightening going head to head.
This is perhaps why it has entered into broad consolidation with the pair once again failing to make a new low, despite breaking back below the 200/233-day SMA once more.
The pair rotated strongly off 1.3750 over the...
A breakout has been a long time coming in the GBPJPY pair, with the consolidation having started many months ago.
With support and resistance now closing in, we may not have to wait much longer. While support has been found until now around 148.50, the lower part of the descending triangle, the 200/233-day SMA band could represent the first major breakthrough...
The FOMC meeting was not kind to gold. With a taper now almost nailed on this year and rates potentially rising from next, it seems gold's appeal is beginning to wane.
The yellow metal was already on a downward trajectory in the weeks leading up to the Fed meeting, with traders seemingly of the view that their determination to taper this year would not be...
Equity markets have been struggling to gather upside momentum over the last month and those nerves showed on Monday when the market sold off, leaving investors feeling rather nervous about what lies ahead.
While the move saw the index break significantly below the 55/89-day SMA for the first time in almost a year - it quickly reversed course a couple of times in...
It's been a long time coming but we may finally have seen bitcoin move into correction territory.
Heavy selling at the start of the week saw bitcoin break significantly below $44,000 -and the 200/223-period SMA band on the 4-hour chart - before coming close to a break of $40,000 today.
A small correction (of the sell-off) saw the cryptocurrency test that prior...
With the dollar remaining in favour after yesterday's stronger US data, the ability of EURUSD to retrace back towards 1.20 is looking increasingly unlikely.
One last hurdle remains to the downside, the 76.4 fib (some may prefer the 78.6 but there isn't a huge amount of difference). If this falls, any hope of a larger retracement is surely dashed.
This fib level...
The UK 100 has struggled to push on over the last month, with nerves in the markets seemingly taking their toll on the rally.
We've seen a couple of pullbacks that appeared to indicate the index was vulnerable to a larger correction but each time it showed strong resilience and headed back towards the highs.
Recently though, the bearish case has been building....
It's not often that bitcoin feels like it's standing still but for weeks now, it looks like it's been shaping up for a correction and it has neither corrected nor broken higher.
Earlier this week it tested those lows (rough) around $44,000 and once again, bitcoin bulls fought back and defended that crucial support region.
Since then, it's rallied once more but...
It's been an interesting day for cable, one that saw the dollar retreat before the pair quickly reversed course which raises many questions.
The reversal came at the 50 fib level which could be viewed as a bearish move. But it isn't that simple. The pair tested the 61.8 fib a month and a half ago before breaking through the 200/233-day SMA band.
But then it...
