AUDJPY posted solid gains in recent sessions, continuing to recover after crashing in late February. The pair is now testing the 67.70 zone and crucially, a close above this region could turn the outlook back to neutral, from cautiously negative now. Something similar is being signaled by the 50-day simple moving average (SMA), which has […]

EURCHF has been in a descending trend since April 2019 and is currently hovering near the five-year low of 1.0517. In the short-term, the price is lacking direction as it remains within the 1.0650 – 1.0517 channel over the last month and is capped by the simple moving averages (SMAs). According to the technical indicators, […]

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EURUSD appears to be restricted by the 100-period simple moving average (SMA) after finding some support from the mid-Bollinger band around the 1.0838 level, that being the 23.6% Fibonacci retracement of the down leg from the 13-month high of 1.1496 to the multi-year low of 1.0635. The undecided pair is currently confined within a near-term […]

NZDUSD created a higher low at 0.5921 and strengthened above the middle Bollinger band, which is also the 20-day simple moving average (SMA), increasing hopes for further improvement in the short-term. The RSI could add to the positive signals if it manages to climb comfortably above its 50 neutral mark. Moreover, to attract investors’ attention, the […]

Hopes for a production-cut deal by OPEC today catapult oil higher Deal will likely get done, yet any positive reaction in oil may be short lived Stocks climb with crude, but watch out for US jobless claims today Euro will stay tuned to the Eurogroup meeting – are Eurobonds on the menu? Oil jumps on […]

USDJPY recorded a stunning upside rally last month towards a one-month high of 111.70, recouping the previous strong losses to the 41-month low. In the preceding week, though, the pair was on the backfoot before it returned slightly up, and the technical indicators suggest a sideline move in the short-term. The RSI is currently flattening […]

This will be a pivotal week for energy markets. The world’s largest oil producers will meet to discuss cutting their production in an attempt to stabilize a market that has been devastated by collapsing demand. OPEC and Russia will sit down for talks on Thursday, before the G20 energy ministers convene on Friday. The immediate […]

The pound has bounced back from the lows it brushed soon after news broke that the UK prime minister, Boris Johnson, has been moved to intensive care a day after being hospitalized for continuing to show symptoms of the coronavirus. Johnson spent a second night in intensive care on Tuesday but the latest is that […]

Silver bulls surrendered to the 200-period moving average (SMA) on the four-hour chart earlier this week and shifted sideways, pausing the uptrend at a fresh high of 15.50. Downside risks seem to be increasing as the RSI is pointing down to its 50 neural mark and the MACD keeps losing strength below its red signal […]

Silver bulls surrendered to the 200-period moving average (SMA) on the four-hour chart earlier this week and shifted sideways, pausing the uptrend at a fresh high of 15.50. Downside risks seem to be increasing as the RSI is pointing down to its 50 neural mark and the MACD keeps losing strength below its red signal […]

The US 100 cash index has been making higher highs and higher lows through the end of March after it touched a more than 14-month low of 6,635, pausing the aggressive downward movement.  The technical indicators continue to send some bullish signals, suggesting that the positive momentum is not over yet. The RSI, slightly above 50, is indicating that the market could […]

Canada is next in line, after the US, to publish a devastating jobs report thanks to the extraordinary Covid-19 lockdown. The report, due out on Thursday at 12:30 GMT, could pressure the loonie, though the size of volatility could largely be determined by the delayed OPEC+ video conference that is scheduled to take place on the same day at 14:00 […]

In America, the spotlight will be on Thursday’s weekly jobless claims and consumer confidence numbers, which will reveal how quickly unemployment is rising and how badly the consumer has been hit. Contrary to conventional wisdom though, a disappointing set of data could boost the US dollar, which has been acting like a safe haven amid […]

USDCHF found some footing at the 0.9500 handle on March 30, extending its bullish action towards the 0.9800 key level. Also, earlier today, the pair touched the 20-day simple moving average (SMA) at 0.9680 and turned higher again. In the short-term, the market could retain the slightly bullish trading as the RSI holds marginally above […]

USDCHF found some footing at the 0.9500 handle on March 30, extending its bullish action towards the 0.9800 key level. Also, earlier today, the pair touched the 20-day simple moving average (SMA) at 0.9680 and turned higher again. In the short-term, the market could retain the slightly bullish trading as the RSI holds marginally above […]

Euro surrenders some gains as EU fails to agree coordinated fiscal plan Besides euro, US stock futures also retreat on Eurobond disappointment Has the bear market rally gone too far?   Oil crumbles as doubts about production cuts set in – even if they cut, it won’t be enough Eurobonds get a cold reception, euro […]

Euro surrenders some gains as EU fails to agree coordinated fiscal plan Besides euro, US stock futures also retreat on Eurobond disappointment Has the bear market rally gone too far?   Oil crumbles as doubts about production cuts set in – even if they cut, it won’t be enough Eurobonds get a cold reception, euro […]

Gold appears to have found some footing at the 1,643 level from March 26 as it creeps towards a very short-term uptrend line drawn from the 1,455.17 low of March 20. Although the simple moving averages (SMAs) are not giving the strongest and clearest trend signals, they do lean slightly to the positive picture, specifically […]

Gold appears to have found some footing at the 1,643 level from March 26 as it creeps towards a very short-term uptrend line drawn from the 1,455.17 low of March 20. Although the simple moving averages (SMAs) are not giving the strongest and clearest trend signals, they do lean slightly to the positive picture, specifically […]

AUDUSD rebounded on the 17½-year low of 0.5506 on March 19 and sent the price slightly above the 0.6200 psychological mark, surpassing the 20-day simple moving average (SMA). The MACD oscillator is moving higher in the negative territory, holding well above the trigger line, however, the RSI indicator paused its positive momentum near its 50 level. If […]

AUDUSD rebounded on the 17½-year low of 0.5506 on March 19 and sent the price slightly above the 0.6200 psychological mark, surpassing the 20-day simple moving average (SMA). The MACD oscillator is moving higher in the negative territory, holding well above the trigger line, however, the RSI indicator paused its positive momentum near its 50 level. If […]

WTI oil futures (May delivery) appear to be forming an inverted head and shoulders pattern in the four-hour timeframe in a possible signal for a positive trend reversal. In the latest upturn, the price failed to overcome its previous high of 28.45 and reversed south to build the right shoulder. The bullish cross between the 20- and 50-period simple moving averages […]

WTI oil futures (May delivery) appear to be forming an inverted head and shoulders pattern in the four-hour timeframe in a possible signal for a positive trend reversal. In the latest upturn, the price failed to overcome its previous high of 28.45 and reversed south to build the right shoulder. The bullish cross between the 20- and 50-period simple moving averages […]

The German 30 stock index escaped from an almost three-week old range on the four-hour chart but quickly found new resistance near the 200-period simple moving average (SMA) on the way up. According to the RSI and the Stochastics, there is not much upside left as the indicators are reversing southwards after peaking in the overbought area. In the event of a downside […]