In the long term, EURUSD seems to be forming a bearish cycle impulse, which consists of five main sub-waves I-II-III-IV-V. Most likely, the cycle impulse sub-wave III was fully completed, after which the formation of Read more…
EURUSD has been losing ground since the beginning of the year, creating a clear structure of lower highs and lower lows. Although the pair managed to cross above both its descending channel and the 50-day simple Read more…
The Aussie Dollar started a fresh decline from the 0.6520 resistance zone against the US Dollar. The AUD/USD pair declined below the 0.6450 level to move into a bearish zone. There was a clear move Read more…
Gold prices are moving lower after several failed attempts to jump above the short-term simple moving averages (SMAs). The price remains below the long-term descending trend line and the technical oscillators currently confirm the bearish structure. The MACD Read more…
The Nasdaq recouped some losses in hope of a turnaround in the Fed’s tightening cycle. Bad news is good news these days. Signs of a slowdown in the world’s largest economy would cool expectations of Read more…
Brent crude bounces higher as demand remains strong despite economic worries. There is definitely some optimism in the air. Recession concerns have abated with traders hoping for a less aggressive stance from the Fed amid Read more…
The Australian dollar slips as the RBA may continue to reduce the pace of monetary normalisation. The recent bounce has more to do with a pullback in the US dollar rather than a shift in Read more…
The pound bounces as the new premiership instils a sense of stability. Former Chancellor Sunak becomes Britain’s Prime Minister as Sterling recovers from the budget disaster. The new finance-relevant leadership gives investors hopes of better Read more…
Daily Pivots: (S1) 0.6375; (P) 0.6427; (R1) 0.6466; More… Intraday bias in AUD/USD remains neutral for the moment. On the upside, decisive break of 0.6535 resistance, and sustained trading above 55 day EMA (now at Read more…
Daily Pivots: (S1) 1.3544; (P) 1.3590; (R1) 1.3653; More…. Intraday bias in USD/CAD remains neutral and further rise is still expected with 1.3501 support intact. On the upside, firm break of 1.3976 will target 200% Read more…