The EURGBP currency pair price action sentiment appears bearish, supported by the longer-term prevailing downtrend.
The key trading level is at 0.8380, which is the 25th February swing high. An oversold rally from the current levels and a bearish rejection from the 0.8380 level could target the downside support at 0.8286 followed by 0.8245 and 0.8200...
The GBPUSD currency pair price action sentiment appears bearish, supported by the longer-term prevailing downtrend.
The key trading level is at 1.2500, which is the 25th February swing high. An oversold rally from the current levels and a bearish rejection from the 1.2500 level could target the downside support at 1.2250 followed by 1.2170 and 1.2100...
The EURUSD currency pair price action sentiment appears bearish, supported by the longer-term prevailing downtrend.
The key trading level is at 1.0400, which is 25th Feb swing high. An oversold rally from the current levels and a bearish rejection from the 1.0400 level could target the downside support at 1.0260 followed by the 1.0210 and 1.0180 levels over the...
The CAC (F40) index price action sentiment appears bullish, supported by the longer-term prevailing uptrend.
The key trading level is at 7946, which is 25th Feb swing low. A corrective pullback from the current levels and a bullish bounce back from the 7946 level could target the upside resistance at 8066 followed by the 8100 and 8180 levels over the longer...
The FTSE (UK100) index price action sentiment appears bullish, supported by the longer-term prevailing uptrend.
The key trading level is at 8680, which is 25th Feb swing low. A corrective pullback from the current levels and a bullish bounce back from the 8680 level could target the upside resistance at 8800 followed by the 8850 and 8916 levels over the longer...
The Dax (DE40) index price action sentiment appears bullish, supported by the longer term prevailing uptrend.
The key trading level is at 21703, which is 07th Feb swing low. A corrective pullback from the current levels and a bullish bounce back from the 21703 level could target the upside resistance at 22000 followed by 22096 and 22200 over the longer timeframe....
Gold was up close to 2% yesterday as it registered a new all-time closing high just below $2,920. It built on those gains overnight, briefly breaking above $2,940 in early Asian Pacific trade. But it subsequently dropped sharply, losing $35 (around 1%) in fifteen minutes. It managed to steady somewhat, but then fell back towards $2,900 once again. The daily MACD...
US stock index futures were all firmer in early trade this morning, recovering a proportion of Friday’s losses. The majors ended last week on the backfoot as investors chose to pare their risk exposure ahead of the weekend. This came after President Trump unleashed a clutch of tariff threats, primarily focused at northern and southern neighbours, Canada and...
Crude prices were a touch firmer in early trade this morning. They were at this time yesterday too, but sold off later in the day to record another negative session. With front-month WTI trading below $71 per barrel, the price has broken below several possible levels of support, all of which acted as resistance over the last four months of 2024. Crude is now...
Gold prices were a touch softer in early morning trade. This follows Wednesday’s strong session which saw it hit a record intra-day high above $2,880 before pulling back to post a new all-time closing high just below $2,870. Gold has put in a terrific bull run since mid-December. This was when it fell below $2,600 following a sharp sell-off which saw gold lose 5%...
Crude oil suffered a deep sell-off yesterday, but rallied off its lows soon after the US open. In little over an hour, front-month WTI jumped from the day’s low of $70.50 to break briefly above $73.00. Prices have drifted lower ever since. The initial sell-off came after China announced retaliatory tariffs on imports from the US. The bounce came after President...
The US dollar shot higher in early trade yesterday. Despite this, gold was only modestly lower and it wasn’t long before it pushed back into positive territory. Gold ended Monday’s session with a gain of 0.7%, having recorded a fresh all-time intra-day high of $2,831, and a record close around $2,814. Once again, the best word to describe gold’s recent behaviour...
Crude prices shot higher overnight in response to President Trump’s insistence that he would be carrying through his tariff threat. As of Tuesday, the US will hit Canada and Mexico with 25% tariffs on their US exports, although the tariff on Canadian oil will be set at 10%, same as that on goods from China. Put together, oil from Mexico and Canada account for...
Yesterday, gold posted an all-time record closing price of $2,799, just one dollar short of $2,800. Then, in early trade this morning, it squeaked above $2,800 before pulling back a few dollars. Since then, it has picked up and broken back above this significant level. So, while the margin is small, gold can finally wave ‘goodbye’ to the old records from the end...
Gold has had a positive start to the day, coming close to breaking through $2,780. This takes it back above Friday’s close, so making back all of Monday’s losses and more. Today’s gains have come despite a rally in the US dollar, something that can create a headwind for gold prices. Gold is just over $10 away from its all-time high of $2,790 hit at the end of...
Crude prices were a touch softer in early trade this morning. Yet prices for WTI appear to be oscillating around $73.85 – a level which represents the 50% retracement of the rally from early December to the recent high of $80.61. It also marks a point on the downwardly-sloping trendline which was broken above nearly three weeks ago, and is now being retested as...
Gold dropped around 1% yesterday as investors rushed to dump anything of value to raise funds in response to the US tech-led sell-off. But the loss was relatively modest when put in perspective with the broader market. China’s DeepSeek released an AI assistant which is now the top-rated free application on Apple's US App Store. It has most of the functionality of...
US stock index futures have tumbled overnight. Investors rushed to bail out of chipmakers and tech-related equities in reaction to China’s threat to US dominance over the development of generative AI. A relatively small Chinese company called DeepSeek has produced a powerful open-source artificial intelligence model at a fraction of the cost, yet with capabilities...
