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- Eurozone inflation exceeded expectations in April, but the European Central Bank is still expected to proceed with a rate cut in June.
- Gold – Break below key $3300 support zone signals potential trend reversal
- The Dollar Index is heading for its largest monthly decline since November 2022
- Gold retests key support levels as easing trade tensions weigh on safe-haven demand
- WTI crude extends losses as sentiment weakens amid fading hopes for trade talks
- USD/JPY – Repeated upside rejections keep the pair vulnerable to downside risks
- Cable maintains a constructive outlook but will likely continue to encounter strong resistance at the key 1.3434 barrier
- Gold tests key support levels once again, but early signals still await confirmation
- USDJPY lifted by renewed risk appetite, but clear directional signals remain elusive
- WTI Crude – Recovery Struggles Below Key Fibonacci Resistance
German business sentiment improved more than anticipated in October, according to the Ifo Institute
The latest survey from the Ifo Institute shows a surprising boost in German business sentiment, with the Ifo business climate index rising to 86.5 in October, up from September’s 85.4 and beating market expectations of 85.6. This increase…
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EURUSD – weaker-than-expected PMI data and a dovish stance from the ECB are likely to hinder ongoing…
The recovery is likely to remain limited, as the pair is entrenched in a broader downtrend driven by both negative technical signals and weak fundamentals.
Recent PMI data from the EU, Germany, and France revealed mixed results. French…
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AUDUSD – bearish momentum pauses, but a clearer directional signal is anticipated with a breakout on…
AUDUSD edged higher on Thursday morning after bears repeatedly failed to break through the 200-day moving average support at 0.6627.
The recovery is in its early stages and requires further upside movement to confirm a stronger bullish…
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Dollar climbs higher on a more cautious Fed rate cut outlook
The dollar continues its strong bullish rally for the third straight day, fueled by expectations that a Trump victory in the U.S. presidential election would bolster the economy and ease pressure on the Federal Reserve. Additionally,…
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USDJPY climbed 1% in Wednesday morning trading
A strong upward movement during Asian and early European trading on Wednesday saw the USDJPY rise by 1%, reaching new multi-week highs last seen in late July.
The recent breach of the psychological 150 barrier was accompanied by a…
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EURUSD broke below the 1.08 support level, but bears might pause as oversold conditions emerge
EURUSD slipped below the key psychological level of 1.08, reaching a new multi-week low early Wednesday. The broader bearish trend remains intact, strengthened by the recent formation of a 10/200DMA death cross. A daily close below 1.08…
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Cable – bears aim to break through the daily cloud base following a period of consolidation
Cable is currently in an extended consolidation phase around the breached psychological support level of 1.30, as larger bears take a moment to consolidate above key support levels.
In the near term, price action remains within the daily…
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AUDUSD – The rebound from a new multi-week low must overcome key resistance levels to deter larger…
AUDUSD rebounded from a new six-week low in early trading on Tuesday, as bearish pressure encountered strong support at 0.6645/27 (50% retracement of 0.6348/0.6942 / 200DMA).
Recent recovery efforts are testing significant resistance at…
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Silver climbs to its highest level in 12 years
Silver prices surged to their highest levels since November 2012 on Monday, following last Friday’s impressive 6.4% daily rally, as the psychological barrier of $34.00 was breached.
The metal’s rise was driven by increased safe-haven…
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Gold – Increasing global uncertainty drives prices to new record highs
Gold continues to rise, reaching new record highs on Monday morning. The recent close above the psychological $2700 barrier has generated a fresh positive signal, reinforcing a bullish outlook.
The yellow metal is benefiting from…
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