USD/CHF pulls back from a fresh monthly high (0.9022) to keep the Relative Strength Index (RSI) below oversold territory, but a move above 70 in the oscillator is likely to be accompanied by a further advance in the exchange rate like the price action from earlier this year.
USD/CHF Rate Outlook
The recent rally in USD/CHF appears to be stalling ahead of the...
Chart Analysis:
The USD/JPY pair has extended its rally and is now approaching the 78.6% Fibonacci retracement level at 157.19, a critical resistance zone for the current uptrend.
1️⃣ Fibonacci Retracement:
The 78.6% retracement of the downtrend from 161.80 to 138.00 aligns near 157.19, making it a key area for traders to watch for potential reversals or a...
Chart Analysis:
The US 100 Index has pulled back from recent highs but remains above its rising trendline (black), maintaining the broader bullish structure.
1️⃣ Rising Trendline:
The trendline, originating from the August lows, has been a key dynamic support for the index. Price is currently testing this level around 21,150, making it a critical area to...
Chart Analysis:
The Australian Dollar has fallen sharply and is now approaching a key support level near 0.6172, last tested in October 2022.
1️⃣ Support Zone:
The horizontal level at 0.6172 represents a critical long-term support area. A test of this level could attract significant attention from market participants.
2️⃣ Fibonacci Retracement:
The 78.6%...
Nasdaq futures may have seen an ugly decline following the Fed’s rate decision but it’s noteworthy the price remained respectful of technical levels, bouncing off 21340.75 at the height of the carnage.
It’s far too early to call a bottom, especially with momentum indicators mixed: MACD has crossed over from above, generating a bearish signal, but the long-running...
Chart Analysis:
Tesla shares have surged past key resistance at $415, marking a significant breakout with strong bullish momentum.
1️⃣ Key Breakout:
The price broke above the horizontal resistance level at $415, which previously capped gains in 2021. This breakout signals renewed strength and opens the door for potential continuation.
2️⃣ Moving...
Chart Analysis:
The Dow Jones Industrial Average remains firmly within an ascending channel (green zone), with the current price nearing key channel support after a pullback.
1️⃣ Ascending Channel:
The price continues to respect the upward-sloping channel, which has been intact since mid-August. The lower boundary, near 43,450, is a critical support level to...
Chart Analysis:
The USD/MXN pair continues to respect the rising trendline (black), maintaining its bullish structure. Price action remains constructive as it hovers near 20.25, with a key resistance level around 20.80.
1️⃣ Rising Trendline Support:
The trendline, initiated from mid-June lows, has consistently supported price dips. This upward trajectory...
Chart Analysis:
Silver prices are approaching a key rising trendline (black) that has supported the market throughout 2024. This level could provide a pivotal point for the next directional move.
1️⃣ Rising Trendline Support:
The trendline, drawn from the January 2024 low, has consistently acted as support. Silver is currently testing this level around $30.39,...
The pound has been among the strongest currencies in the G10 space so far this week, owing to strength in UK data and diminishing hopes that the Bank of England will deliver a rate cut at this week’s policy meeting. However, against the US dollar, it is likely to resume lower given how strong the greenback has been as expectations about a hawkish rate cut from...
Did we just see the start of the ‘Santa Rally’ on Australia’s ASX 200? If the daily candle on SPI futures finishes around these levels, the price signal will likely embolden those who have been pining for its arrival.
As things stand, we’re looking at a key reversal with the body and range greater than the candle of 24 hours earlier, pointing to the potential...
Chart Analysis:
The USD/CAD pair continues to trade within a well-defined ascending channel (blue-shaded area), reflecting sustained bullish momentum.
1️⃣ Ascending Channel:
The pair is trading near the upper boundary of the channel, indicating strong upward momentum.
Traders may watch for reactions at this level for potential continuation or minor pullbacks...
Chart Analysis: The Australian Dollar is testing a critical support area as it hovers near 0.6375 and 0.6285 (pink horizontal lines), levels that have held firm multiple times over the past year.
1️⃣ Support Retest:
The price has approached this zone, which acted as support in November 2023 and March 2024. Traders often watch such levels for potential rebounds...
Chart Analysis: The Nasdaq 100 has maintained a steady uptrend after rebounding from its August low, respecting a rising trendline (black) and staying above key moving averages. Here's a breakdown of the key observations:
1️⃣ Trendline Support:
The price has respected the ascending black trendline, acting as dynamic support during pullbacks. This showcases...
Bitcoin futures have opened the new week on the front foot, talking out the former record highs at $105325 before extending the move as Asian markets come online.
RSI (14) has broken its downtrend while MACD looks like it may crossover from below, suggesting bullish momentum may be building again.
While the price signal is definitive, we’ve not seen pickup in...
Do you know what Bid or Ask means? If you’re a trader, you should keep reading if these terms sound unfamiliar to you, or you are unsure. After all, they are the terms used to explain the buying and selling process within markets.
Let’s get started! When you look at a tradable financial market, you'll notice two prices listed: the bid and the ask. Here's a quick...
Bitcoin has been pressing uptrend resistance into the 61.8% parallel for the past three weeks and we're looking for a reaction here. While the broader outlook remains constructive, the immediate advance may be vulnerable here near-term- Watch the weekly close.
Next topside objectives at 107,892 and 121,899-123,754
Initial support rests at the median-line...
The USD/JPY has rebounded after testing a multi-week low near the 149.00 handle on Monday on the on the back of dovish comments from Fed’s Waller, who said he’s inclined to cut rates in December.
However, with the yen being the biggest performer last week, underscoring expectations about a potential rate hike from the Bank of Japan, just as the world’s other...
