Friday May 9
Data: China April trade balance, Q1 BoP current account balance, Japan March labor cash earnings, household spending, leading index, coincident index, Italy March industrial production, Canada April jobs report, Norway April CPI
Central banks: Fed's Williams, Waller, Kugler, Goolsbee and Barr speak, ECB's Simkus and Rehn speak, BoE's Bailey and Pill...
The AUDJPY currency pair remains in a bearish trend, with the recent price action showing signs of an oversold bounce. While a temporary rebound is in play, the broader sentiment remains weak unless a decisive breakout occurs.
Key Levels to Watch:
Resistance Levels: 92.90 (critical level), 93.84, 94.60, and 95.50
Support Levels: 90.33, 89.79, 88.70
Bearish...
The GBPJPY pair is exhibiting a bearish sentiment, reinforced by the ongoing downtrend. The key trading level to watch is at 192,87 which represents the current intraday swing high.
In the short term, an oversold rally from current levels, followed by a bearish rejection at the 192.87 resistance, could lead to a downside move targeting support at 190.15 with...
The GBPCAD pair is exhibiting a bearish sentiment, reinforced by the ongoing downtrend. The key trading level to watch is at 1.8532 which represents the current intraday swing high.
In the short term, an oversold rally from current levels, followed by a bearish rejection at the 1.8532 resistance, could lead to a downside move targeting support at 1.8280 with...
Key Support and Resistance Levels
Resistance Level 1: 41,900
Resistance Level 2: 42,470
Resistance Level 3: 43,600
Support Level 1: 40,680
Support Level 2: 40,240
Support Level 3: 39,700
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It...
Market and Geopolitical Update
US–UK Trade Deal: Donald Trump announced a trade agreement with the UK, calling it the first of his promised deals. Details will be released by the White House.
Chipmakers Rise: The US plans to roll back some Biden-era AI chip export restrictions, boosting chip stocks. New rules are in development to better control foreign chip...
The GBP/CHF currency pair remains under bearish pressure, in line with the broader downtrend. Recent price movement reflects an oversold rally that stalled near a key resistance level at 1.1120, which previously acted as an intraday consolidation zone.
This level now serves as a crucial pivot. If price fails to break above 1.1120 and faces rejection, it could...
Trend: Bullish
Current Price Action: Sideways consolidation within an overall rising trend.
Key Support Level: 0.8446
Key Resistance Levels: 0.8556, 0.8578, 0.8613
Bullish Scenario:
If the price pulls back and finds support at 0.8446, a bounce from this level could trigger a move towards 0.8556, and potentially extend to 0.8578 and 0.8613 in the longer...
GBP/USD maintains a bullish bias, with the broader trend and structure supporting upside continuation. The recent intraday move appears to be an overbought corrective pullback toward a key prior consolidation area.
Key Support: 1.3210 – aligns with the previous consolidation zone and potential bullish inflection point.
Upside Targets:
1.3435 – initial resistance...
The DAX40 continues to exhibit bullish sentiment, aligning with the prevailing short term uptrend. Recent price action suggests that the index experienced an oversold rally, which subsequently spiked above near a key resistance zone.
A corrective pullback to 22,826, followed by renewed buying pressure, would likely confirm a bullish reversal, with upside targets...
Thursday May 8
Data: US Q1 nonfarm productivity, Q1 unit labor costs, March wholesale trade sales, April NY Fed 1-yr inflation expectations, initial jobless claims, UK April RICS house price balance, Germany March industrial production, trade balance
Central banks: BoE, Riksbank and Norges Bank decision, BoJ minutes of the March meeting, BoE's April DMP survey,...
The USDJPY pair is exhibiting a bearish sentiment, reinforced by the ongoing downtrend. The key trading level to watch is at 145.60, which represents the current intraday swing low and the falling resistance trendline level.
In the short term, an oversold rally from current levels, followed by a bearish rejection at the 145.60 resistance, could lead to a downside...
Recent price action in USDCHF suggests an oversold bounce, with resistance capping gains at the 0.8300 level.
The continuation of selling pressure could extend the downside move, with key support levels at 0.8130, followed by 0.8090 and 0.8050.
Alternatively, a confirmed breakout above 0.8300, accompanied by a daily close higher, would invalidate the bearish...
The USDCAD pair is exhibiting a bearish sentiment, reinforced by the ongoing downtrend. The key trading level to watch is at 1.4060, which represents the current intraday swing low and the falling resistance trendline level.
In the short term, an oversold rally from current levels, followed by a bearish rejection at the 1.4060 resistance, could lead to a downside...
Key Support and Resistance Levels
Resistance Level 1: 41,450
Resistance Level 2: 41,900
Resistance Level 3: 42,470
Support Level 1: 40,220
Support Level 2: 39,760
Support Level 3: 39,150
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It...
Macro & Central Banks
The Federal Reserve is expected to keep interest rates unchanged. Officials say policy is well-positioned, despite political frustration.
China is adding stimulus: cutting rates, reducing bank reserve requirements, and increasing gold reserves for the sixth month in a row.
Markets
U.S. stock futures are higher.
The U.S. dollar is...
The price sentiment for Brent Crude Oil remains bearish, in line with the prevailing downtrend. Recent price action shows an oversold rally, which has stalled near a previous consolidation zone around 6533 — a key resistance level.
Key Resistance Level: 6533
This level marks a previous intraday consolidation area and could act as a ceiling for the current...
The price sentiment for WTI Crude Oil remains bearish, in line with the prevailing downtrend. Recent price action shows an oversold rally, which has stalled near a previous consolidation zone around 6200 — a key resistance level.
Key Resistance Level: 6200
This level marks a previous intraday consolidation area and could act as a ceiling for the current...
