Currency

The trend structure is picking up pace after respecting its 200-day average and breaking to a new cycle high. Whilst we could see a pullback from current levels, we’re looking to extend its trend. Matt Simpson takes a technical look. City Index: Spread Betting, CFD and Forex Trading on 12,000+ global markets including Indices, Shares, […]

Improved risk sentiment and higher oil prices could be supportive of CAD/JPY. So we’re closely watching for a potential break higher. Risk sentiment has been given a boost, thanks to the rebound from China’s PMI reads progress with US-China trade talks. Naturally this has been supportive of risk assets in general, but also for commodity […]

In recent sessions, EUR/USD has drifted down towards long-term support.  Given we’ve not seen a weekly close beneath 1.1200 in 21-months and the daily timeframe is looking stretched, a bounce from current levels is not out of the question. We can see on the weekly chart that, since the 2018 high, bearish momentum has waned […]

XRPUSD Medium-term Trend: Bullish   • Resistance Levels: $0.56, $0.58, $ 0.60 • Support Levels: $0.30, $0.28, $0.26   The XRPUSD pair is now in the bullish trend zone. Yesterday, it was assumed that a price breakout will enable the bulls to break the $0.32 and $0.33 resistance levels. Today, the crypto’s price encountered a […]

The Dow Jones Industrial Average closed to its highest level since October yesterday. Given the strength of its underlying trend, its breakout could have further to go. Overall, momentum since December’s V-bottom has been firmly bullish, although price action had been coiling up within a triangle pattern since late February. Still, the pattern has held […]

BTCUSD Medium-term Trend: Bullish   • Resistance levels: $7,000, $7,200, $7,400 • Support levels: $3,900, $3,700, $3,500   On February 25, the bulls broke the 12-day EMA, the 26-day EMA, and the $3,800 price level to reach the bullish trend zone. The BTC price had been trading between the levels of $$3,800 and $4,000 since […]

With bond yields continuing to fall, it’s becoming too difficult for other markets to ignore and raises the prospects that sentient could finally crack. And that could see a lower USD/JPY. Whilst equity markets remain defiantly near cycle highs, they have shown signs of wobbling. Furthermore, we’re watching other markets feel the strain following an […]

Stalling at our $60 target, we suspect there could be further for upside potential for WTI judging from its bullish trend structure and encouraging signs from the weekly COT report. Prices are bouncing along the 8 and 21 eMA’s and Monday’s Doji held about the $58 area to suggest a shallow pullback may have completed. […]

Stating that the next OCR direction is likely to be down, RBNZ crunched their way out of neutral gear whilst NZD bulls burned rubber and headed for the exit. Summary of the March statement: The Official Cash Rate (OCR) remains at 1.75%. Next OCR direction is more likely to be down. Global economic outlook has continued […]

As is usually the case, overnight implied volatility has spiked ahead of the central bank meeting, irrespective of the fact that most expect rates to remain unchanged at 1.75%. Still, it remains prudent to assume volatility could spike in the event of new or unexpected information. Summary of the February notes: OCR expected to remain […]