Currency

A summary of the weekly Commitment of Traders Report (COT) from CFTC to show market positioning among large speculators. GBP traders reduced net-short exposure by 22k contracts, its largest weekly change in 9 months. Adjusted for open interest, traders are the most bearish on VIX since 2008. JPY futures rise to 7-week high, despite bears […]

Last Friday we highlighted CAD/CHF’s potential bearish Deja Vous pattern. Whilst bearish momentum is taking hold, we may see a pause in trend before it breaks to new lows. The daily trend structure is firmly bearish, and the 61.8% Fibonacci retracement level performed well as resistance. Friday’s break out of its 36-pip range marked the […]

XRPUSD Medium-term Trend: Ranging   • Resistance Levels: $0.56, $0.58, $ 0.60 • Support Levels: $0.30, $0.28, $0.26   The XRP price is still in a tight range between the levels of $.30 and $0.33. While in its tight range the $0.32 price level is now a strong resistance level. The crypto’s bullish candlesticks above […]

The most volatile session since the flash-crash saw USD/JPY break convincingly lower from its triangle formation. Moreover, it closed beneath the prior swing low and cluster of moving averages (50, 100 and 200-day eMA’s) to underscore the power of the breakout. The dovish tone of the meeting caught markets by surprise, which now sees the […]

EUR/USD has been oscillating within a bearish channel for the best part of this year. But having rebounded around 1.5% from its low (an area which saw euro reverse previously) we’re looking out for further signs of weakness that could signal a top. A small hammer suggests markets were hesitant to break higher, although the […]

A symmetrical triangle could be forming on USD/JPY, unless of course it decides to close the gap follow yields lower with a break to new lows. With the Fed meeting looming tomorrow, could this be the calm before the storm? Matt Simpson takes a technical look. City Index: Spread Betting, CFD and Forex Trading on […]

If the US dollar index (DXY) is to follow its seasonal tendency, headwinds could cap upside potential in March before dragging it lower around April. We can see that, whilst January and February have averaged positive returns, their potency has dwindled over the past 5 years (relative to the 30-years) before average returns have become […]

BTCUSD Medium-term Trend: Ranging   • Resistance levels: $7,000, $7,200, $7,400 • Support levels: $3,800, $3,600, $3,400   On March 25, the price of Bitcoin had been in the bullish trend zone. The crypto’s price was above the 12-day EMA and the 26-day EMA which indicated that the price was going to rise. The price […]

A summary of the weekly Commitment of Traders Report (COTS) from CFTC to show market positioning among large speculators. USD net-long exposure moves to a 6-week high against G10 currencies. Among the FX majors, it was again JPY futures which saw the largest weekly net change, with net-short exposure increasing by 7.5k contracts. Only minor […]

Price action on CAD/CHF has caught our eye, as it suggests a bearish breakout could be pending. Since Wednesday, the cross has been caught within a 36-pip range. It can’t stay in there for ever, although without top-tier calendar events from Canada or Switzerland today, we may have to rely on external events to provide […]