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Latest Analysis

GBPCAD extends rebound from February trough But major obstacle may prevent further gains   GBPCAD has recovered more than 1% from the February 9 low of 1.6916 to climb back above the 1.7100 level. The momentum indicators suggest further gains are likely in the near term. The RSI is ticking higher above the 50 neutral level but has yet to reach the overbought mark, while the MACD recently crossed above both zero and its red signal line in a bullish signal.

Technical Analysis – USDJPY maintains weak positive bias as bulls tread carefully

USDJPY is barely holding onto upside momentum Stiff support propping up the bulls but neutral shift may be unavoidable   USDJPY is slowly crawling back up towards the February 13 peak of 150.87 after a mild pullback. But despite the tight range of the past two weeks and a strong immediate support zone, the bullish forces may not yet be powerful enough to drive the price to fresh highs.

Technical Analysis – EURCHF extends advance towards 200-day SMA

EURCHF extends recovery to a fresh 2-month high Breaks above trendline and eyes 200-day SMA Momentum indicators approach overbought levels EURCHF has been in a downtrend since the beginning of 2023, dropping to an all-time low of 0.9252 on December 29. However, the pair has been staging a rebound in 2024, violating the downward sloping trendline that connects its lower highs in the past year and posting a fresh two-month peak on Monday.

US 500 shows some signs of running out of steam Outlook positive above 20-day EMA   The US 500 stock index (cash) could not sustain gains above Thursday’s closing price of 5,081 on Friday despite a flash spike to a record high of 5,111, forming a shooting star candlestick with a long upper wick at the top of the uptrend instead. The candlestick pattern could be a cautious sign that the bears are around the corner, but traders will monitor today’s trading actions to get some

Weekly Technical Outlook – USDJPY, EURUSD, NZDUSD

US Core PCE price index expected to fall as USDJPY weakens Decline in flash Eurozone CPI may lead to rate cuts; EURUSD remains above 1.0800 RBNZ expected to keep rates unchanged; NZDUSD falls after bullish rally US Core PCE price index --> USDJPY The Federal Reserve is not rushing to ease policy, and markets are beginning to accept the possibility that there will be no rate cuts before the summer.

Technical Analysis – Gold battles with 50-day SMA

Gold rebounds strongly from its 2024 low Challenges 50-day SMA and ascending trendline Momentum indicators turn neutral-to-positive Gold has been regaining ground in the past few sessions, following its bounce off the 2024 bottom of 1,984. Although the price has recouped a significant part of its losses, it has currently stalled at the congested region that includes the 50-day simple moving average (SMA) and the ascending trendline that connects the higher lows since December.

Technical Analysis – USDCAD uptrend loses power

USDCAD lacks strength but holds near key support zone Short-term bias looks neutral   USDCAD has been facing difficulties in printing new higher highs for more than a week now, shifting to the sidelines to trade around 1.3480. The technical indicators are mirroring the absence of buying interest, with the RSI easing towards its 50 neutral mark and the MACD remaining muted below its red signal line.

GBPAUD is stuck in a tight range, a tad below the upper end of the rectangle Momentum indicators are mostly in waiting mode SMAs’ convergence points to a sizeable move soon GBPAUD is edging lower today after recording three consecutive green candles. It remains a tad below the upper boundary of the rectangle that has been dictating price action since September 2023. Interestingly, the continued convergence of the 50-, 100- and 200-day simple moving averages (SMAs) and the relativ

Technical Analysis – GBPUSD tries to strengthen bullish move above SMAs

GBPUSD rebounds off 200-day SMA But still holds in trading range in short-term RSI and MACD have weak momentum GBPUSD is making an attempt to climb above the short-term simple moving averages (SMAs), posting three straight green days but is still developing within the three-month trading range of 1.2520-1.2785. According to technical oscillators, the MACD jumped above its trigger line but is still standing beneath its trigger line with weak momentum, while the RSI is moving sidewa

Platinum futures consolidate around the 900 mark Price repeatedly fails to conquer 23.6% Fibonacci Momentum indicators tilt to the negative side Platinum futures (April delivery) experienced a steep downtrend in the second half of 2023, falling from 1,135 to as low as 841 in late November. Since then, the price has been attempting a recovery, but so far it has failed to escape its medium-term rangebound pattern.

Technical Analysis – GER 40 index back at record highs

The German 40 index hits a record high within bullish formation Might be sailing within overbought waters, but there is still some bullish power   Despite the disappointing manufacturing PMI data, the German 40 index (cash) managed to spike to a record high of 17,388 on Thursday, rising above the important resistance line which has been blocking the bulls during 2023. The index has been resilient above its short-term simple moving averages (SMAs) over the past month, but with th

Technical Analysis – BTCUSD consolidates near more than 2-year high

BTCUSD moves sideways after steep advance pauses Holds comfortably above 50,000 psychological mark Momentum indicators look overbought BTCUSD (Bitcoin) had been in a steep advance following its break above the 50-day simple moving average (SMA) on February 7. However, the rally seems to have paused for now, with the price consolidating a tad below its more than two-year peak of 52,989. If Bitcoin storms to fresh highs, the November 2021 support zones of 53,300 and 55,500 could no

Technical Analysis – EURUSD jumps to test critical resistance

EURUSD has its best week of the year Downside risks remain around 1.0880 EZ flash business PMIs show a mixed picture   EURUSD is in the seventh day of gains, marking its longest bull run in a while to reach the critical 1.0880 bar. Disappointingly, Eurozone's flash business PMI figures for February could not lift the pair above that threshold earlier today as the manufacturing sector continued to shrink, but the technical indicators are still in the bullish area.

US 30 index in the green again following a few mixed sessions It remains just a tad below its recent all-time high Momentum indicators are mixed; the stochastic oscillator appears indecisive The US 30 cash index is in the green again today, following some mixed sessions. The bulls are probably feeling confident again as the index is just a tad below its February 12, 2024 high of 38,929. However, they probably need to register a higher high soon in order to keep the current bullish

Technical Analysis – WTI oil futures in fierce battle with 200-SMA

WTI futures hover around the 200-day SMA Failure to edge higher might lead to a double top Oscillators suggest intensifying positive momentum WTI oil futures (April delivery) have been staging a comeback following their break above the 50-day simple moving average (SMA) in early February. However, the recovery seems to be on hold for now as the 200-day SMA has been curbing the price’s upside.

Technical Analysis – AUDUSD challenges 200-day SMA

AUDUSD rebounds from its lowest level since November Price jumps above descending trendline to test 200-day SMA Momentum indicators improve but remain in negative zones AUDUSD had been in a constant decline after peaking at 0.6870 in December, breaking below both its 50- and 200-day simple moving averages (SMAs). Nevertheless, the pair managed to find its feet and rotate back above its descending trendline, currently attempting to claim the crucial 200-day SMA.

Technical Analysis – NZDJPY hits nine-year high as bullish run continues

NZDJPY extends bullish streak above 92.00 level Bulls remain firmly in control Overbought signals begin to flash red NZDJPY has been recording fresh highs all week and scaled a nine-year high of 92.98 earlier on Wednesday. The momentum indicators suggest that the bullish bias isn’t likely to fade in the near term. However, both the RSI and the stochastics have entered overbought territory, pointing to increased risk of a downside correction.

Is JP 225 index ready for bearish correction? RSI and Stochastics indicate downward wave in short term The JP 225 stock index (cash) stormed higher after the bounce off around the 35,700 region in late January. Although the price jumped to its highest level since 1990 at 38,868, it has been range bound since then, appearing unable to extend its advance.

Technical Analysis – Gold encounters resistance at 50.0% Fibo

Gold rebounds strongly from 2-month bottom Price breaks above 50- and 200-period SMAs Oscillators tilt to the positive side Gold had been trading within a range in the four-hour chart, but a hotter-than-expected US inflation report triggered a downward spike to a fresh two-month low of 1,984. However, bullion managed to post a swift recovery, jumping above both 50- and 200-period simple moving averages (SMAs) before encountering strong resistance at 2,030. For the rebound to resum

Technical Analysis – NZDUSD prepares to switch to a bull market

NZDUSD prints bullish trend pattern Constraining 50-day SMA under examination again FOMC meeting minutes due for release at 19:00 GMT   NZDUSD is looking to complete a bullish double bottom pattern above the 0.6155 neckline and the 50% Fibonacci retracement of the February-October 2023 downtrend. Technically, the bulls could dominate in the coming sessions as the RSI has extended its upward pattern above its 50 neutral mark and the MACD continues to strengthen above its red

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