USD/MXN has broken the yearly opening-range with price now probing below the 2017 lows at 17.4515 - watch the weekly close.
A break lower keeps the focus on the 2016 lows, which converge on the 25% parallel near ~ 17.0505 .
Resistance eyed with the median-line / February low close around 17.9490
Michael Boutros , Sr Technical Strategist with...
EUR/JPY slipped to a fresh monthly low (146.13) last week as it pushed below the opening range for May, but the exchange rate may track the positive slope in the 50-Day SMA (144.90) as long as it holds above the moving average.
EUR/JPY Rate Outlook
EUR/JPY appeared to be on track to test the moving average as it registered a four-day selloff for the first time...
EUR/CAD carved a series of lower highs and lows following the failed attempt to test the April high (1.5113), but the exchange rate appears to be bouncing back ahead of the April low (1.4580) as it snaps the bearish price action carried over from last week.
EUR/CAD Rate Outlook
EUR/CAD may mirror the price action from last month amid the failed attempt to...
Some of the key commodity prices like copper, crude, gold and silver have fallen sharply today, because of two reasons. A rebound in US dollar has hurt buck-denominated assets, while concerns over China have weighed on the demand outlook for certain commodities. Both of these factors are unlikely to hold gold back from reach another record high, soon.
The latest...
The price of gold carves a series of higher highs and lows as it bounces back ahead of the monthly low ($1977), and bullion may continue to outperform bitcoin as BTC/USD takes out the April low ($26981).
Gold Price Outlook
The positive relationship between the price of gold and bitcoin has unraveled as the correlation coefficient current stands at...
AUD/JPY cleared the March high (92.25) as it bounced back ahead of the April low (87.60), and the exchange rate may attempt to test the February high (93.05) as it rebounds from the 50-Day SMA (89.45).
AUD/JPY Rate Outlook
AUD/JPY bounces back ahead of the weekly low (90.93) while the S&P 500 index trades to a fresh weekly low (4116), and it seems as though...
We first highlighted the threat for topside exhaustion in EURUSD back on May 1st - "Euro has broken multi-week channel support after failing to secure a breach of key resistance at 1.1033/70 ."
Five-subsequent attempts to breach this range have failed with price testing the monthly opening-range lows today - looking for a breakout of this range for guidance...
EUR/JPY may attempt to retrace the decline from the monthly high (151.62) as it snaps the series of lower highs and lows from last week, and the exchange rate may stage further attempts to test the March 2008 low (151.69) as long as it holds above the monthly low (147.13).
EUR/JPY Rate Outlook
The recent weakness in EUR/JPY triggered a sell signal in the...
EUR/CAD seems to have staged a failed attempt to test the April high (1.5113) as it snaps the series of higher highs and lows from the start of the week.
EUR/CAD Rate Outlook
EUR/CAD gives back the advance from the monthly low (1.4841) following the European Central Bank (ECB) interest rate decision, while the Relative Strength Index (RSI) diverges with price...
GBP/USD continues to hold below the June 2022 high (1.2617) following the Federal Reserve interest rate decision, with the central bank delivering another 25bp rate hike while taming speculation for lower interest rates ahead of 2024.
GBP/USD Rate Outlook
GBP/USD registered a fresh yearly high (1.2590) as it retraced the decline from the start of the week, but...
• FOMC raises interest rates by 25 bps as expected, unanimous decision
• Policy statement no longer says “some additional policy firming may be appropriate”
• Dovish hike, but was it expected?
So, there you have it then: the Fed hikes by 25 basis points as had been highly anticipated. But by removing a key line from the statement that “some additional policy...
The recent advance in EUR/JPY appears to have stalled ahead of the March 2008 high (151.69) as the Relative Strength Index (RSI) slips below 70 to indicate a textbook sell signal.
EUR/JPY Rate Outlook
EUR/JPY halts a three-day rally as it falls back from a fresh yearly high (151.62), with the opening range for May in focus as the exchange rate registered the...
USD/CAD has continued to coil within the confines of a massive multi-month consolidation pattern - with the yearly opening-range intact heading into May trade.
Key event risk on tap this week with the FOMC rate decision followed by US & Canada employment figures on Friday- expect volatility.
Resistance eyed at 1.3688 backed by slope resistance/ the yearly...
FOREXCOM:AUDJPY clears the April high (90.78) as it extends the series of higher highs and lows from last week, and the exchange rate may continue to retrace the decline from the March high (92.25) amid the lack of response to the negative slope in the 50-Day SMA (89.58).
AUD/JPY Rate Outlook
AUD/JPY appears to have reversed ahead of the April low (87.60) as...
#Euro has broken multi-week channel support after failing to secure a breach of key resistance at 1.1033/70.
FX:EURUSD now threatens a possible test of broader uptrend. Initial support at 1.0874 backed by 1.0737- losses should be limited by this threshold IF price is heading higher.
Breach from here would expose 1.1275.
#FOMC & #ECB on tap.
Michael Boutros...
WTI has bounced sharply to rise 2% and above HKEX:80 again, reversing a big chunk of its losses from earlier in the week. It looks like short-covering, OPEC+ supply cuts, dovish BoJ and mostly stronger US data today are all helping to fuel the rally and supporting the crude oil outlook.
Earlier this week, both oil contracts slumped to finally close their price...
A breakout in USD/JPY is now approaching a 100 pip zone of technical significance at 136.66-137.66- a region defined by the 38.2% retracement of the October decline and the yearly high-day close. - Looking for a reaction there If reached.
Remains constructive while within this formation. A topside breach exposes 139.58
Michael Boutros , Sr Technical Strategist...
ETH/USD holds above the 50-Day SMA (1763) as it bounces back ahead of the monthly low (1765), and Ethereum may track the positive slope in the moving average as it defends the opening range for April.
ETH/USD Outlook
ETH/USD cleared the August 2022 high (2013) earlier this month as it rallied to a fresh yearly high (2133), but a textbook sell signal...
