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Technical Perspective BTCUSD is currently testing the resistance level at 73,500, which coincides with the 78.6% Fibonacci extension. The price is still in an uptrend, marked by higher swing points. However, a retracement is possible as the price approaches the upper boundary of the ascending channel. If BTCUSD falls below 73,500, it may retest the channel's...

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EURUSD is approaching the 1.0800 support which aligns with the 78.6% Fibonacci retracement and ascending trendline. If EURUSD rebounds above 1.0800, the price could extend gains toward the 1.1000 resistance. Conversely, a break below 1.0800 could prompt a deeper decline, with 1.0650 as the next potential support. Author: Li Xing Gan, CMT, CFTe, Financial Market...

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Technical Perspective XAUUSD rebounded above the ascending channel's upper bound and held above the Ichimoku cloud, indicating potential for further gains. If the price sustains its bullish momentum with a break above 2680, further gains toward the 100% Fibonacci extension and 2700 resistance might occur. Conversely, a retreat below 2680 could prompt a retest of...

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Technical Perspective: BTCUSD formed a descending channel and retreated below its upper bound near 64,200, which coincides with the 61.8% Fibonacci retracement. The price remains below the Ichimoku cloud, indicating potential for further downside. If BTCUSD extends its decline and breaks below the 62,000 threshold, the price could approach the 60,500 support...

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Fundamental Perspective Martins Kazaks, a Governing Council member of the European Central Bank, indicated that the bank is likely to cut interest rates at its upcoming meeting, citing increased economic risks and signs of weak growth. However, he cautioned against overly aggressive market expectations for rapid rate cuts, emphasizing the need for a careful...

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Technical Perspective: GBPUSD extended its rally following a rebound above the 1.3210 resistance-turned-support zone. If GBPUSD sustains its bullish momentum, the price could rise to the ascending channel's upper bound and 1.3650 resistance, with a break above 1.3650 prompting further gains toward 1.4000. Conversely, a reversal below 1.3650 could prompt a...

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Technical Perspective: USDJPY rebounded above the 140.00 psychological support, a low seen in December last year. However, the price remains under pressure, holding below the Ichimoku cloud and 143.00 resistance. If USDJPY sustains its bearish momentum with a reversal below 143.00, a further decline to retest the 140.00 support and descending channel's lower...

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USOIL remains under pressure, with the price approaching the support-turned-resistance zone at 72.00, which coincides with the 100% Fibonacci extension level. A reversal below the 72.00 resistance could prompt a further decline and a potential retest of the 66.00 support zone. The Ichimoku cloud also shows bearish pressure, indicating the potential for a further...

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From a technical perspective, USOIL extended its decline within the descending channel. MACD is holding below the zero threshold, indicating further downside potential. If USOIL sustains its bearish momentum, a further drop toward the 60.00 support might occur. Conversely, a break above 70.00 could prompt a further pullback toward the 80.00 resistance and...

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Fundamental Perspective: The US ISM Manufacturing PMI rose to 47.2 in Aug but fell short of the 47.5 forecast. This marks the 21st monthly contraction in US factory activity over the past 22 months. This persistent weakness highlights the strain of high Fed interest rates on the manufacturing sector. The focus remains on the US jobs data, where further softening...

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Bitcoin dipped below $60,000 as gains it reversed gains from expectations of Fed rate cuts. The decline, which also impacted Ether, is compounded by concerns over the US government's potential selloff of seized tokens, adding to market uncertainties. From a technical perspective, BTCUSD remains under pressure following a reversal below the 65500 resistance. A...

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From a technical perspective, DXY extended its decline as the price approached the 100.80 support. A break below this level could prompt a further decline, with 99.80 as the next potential support. Conversely, a rebound above 100.80 could prompt a pullback to retest the 102.50 resistance. MACD remains below the zero threshold, indicating potential for further...

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Technical Perspective: XAUUSD saw repeated tests of the upper bound of the ascending channel, which is near the 2520 resistance. If XAUUSD sustains its bullish momentum, a further rise towards the Fibonacci confluence levels near 2520 might occur. Conversely, if XAUUSD pared recent gains, the price could retreat toward the 2280 support. Notably, RSI is hovering...

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From a technical perspective, GBPUSD reversed below the upper bound of the ascending channel, with MACD holding below the zero threshold, indicating further downside potential. If GBPUSD sustains its bearish momentum below 1.2850, a further decline towards the 1.2550 support might occur. Conversely, if GBPUSD retraces, the price could retest 1.2850 and 1.3000 upon...

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Fundamental Perspective: The Fed will likely keep interest rates steady and hint at a potential cut in Sep amid progress on inflation and a softer labor market. Meanwhile, Vice President Kamala Harris has narrowed the gap with Donald Trump in key battleground states, showing more robust poll numbers than President Biden and could enhance voter turnout....

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Technical Perspective: DXY broke out of its ascending trend line and formed lower swing points on the daily timeframe, with the price retracing towards the 105.00 resistance, which coincides with the breakout zone and Fibonacci confluence levels. If DXY reverses below 105.00, the index could extend its decline toward the 103.20 support. MACD is holding below the...

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Technical Perspective: USOIL pared recent gains as it reversed below the 84.00 resistance, with the price approaching the 78.00 support. If USOIL rebounds above the 78.00 support, the price could extend its rally to restest the 84.00 resistance again. Beyond that, a breakout of the 84.00 resistance could prompt a further rise, with 86.00 as the next potential...

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Technical Perspective USDJPY is testing the 158.50 support, which coincides with the ascending trend line and 38.2% Fibonacci retracement. The price remains in an uptrend with the formation of higher swing points. If USDJPY regains its bullish momentum and rebounds above the 158.50 support, a rise towards the 161.80 resistance and 61.8% Fibonacci extension...