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Latest Analysis

Technical Analysis – Gold retreats from all-time high

Gold pulls back from its recent record peak Momentum indicators exit overbought conditions Gold experienced a massive surge following its profound break above the 50-day simple moving average (SMA), posting a fresh all-time high of 2,195 on March 8. However, bullion has been undergoing a minor downside correction since then as it had approached extremely overbought conditions.
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Technical Analysis – EURUSD trades sideways after sharp drop

EURUSD rotates lower after its advance gets rejected Trades flat in past few sessions within the Ichimoku cloud Momentum indicators weaken but remain positive   EURUSD had been in a steady recovery from its 2024 bottom of 1.0693, advancing to as high as 1.0980 on March 8. However, the pair’s rebound was rejected after a temporary jump above the Ichimoku cloud, with the short-term oscillators deteriorating significantly but holding above their neutral zones.
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Technical Analysis – Is USDCAD poised for another bullish round?

USDCAD brings key resistance in focus after rebound Technical signals are encouraging, but a bullish outlook expected above 1.3600   USDCAD made a strong comeback on Thursday, surpassing its simple moving averages (SMAs) and breaching the 1.3500 level after encountering fresh buying around the familiar long-term line from November 2022. The 50% Fibonacci retracement of the November-December 2023 downleg is currently challenging the bulls around 1.3535. The chances of the bulls w
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Technical Analysis – GBPJPY ticks up from rising trend line

GBPJPY recoups some of the losses RSI and MACD still show some weakness GBPJPY is recovering somewhat from the bearish movement that started from 191.30 and is following the direction of the ascending trend line. The market is also developing within the 20- and the 50-day simple moving averages (SMAs) with the technical oscillators showing some weakness in price.
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Technical Analysis – ETHUSD trades flat in Dencun upgrade aftermath

ETHUSD trades sideways in the past few sessions Fails to capitalise on completion of Dencun upgrade on Wednesday Momentum indicators ease but do not exit overbought zones ETHUSD (Ethereum) has been in a steep uptrend in 2024, surging to consecutive multi-month highs. However, the leading altcoin seems to be consolidating in the past few sessions despite the successful completion of the Dencun upgrade as it has been repeatedly repelled a tad below the 4,100 mark.
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Technical Analysis – Silver bulls return with a bang

Silver marks new higher highs in the year to date Some caution required as former resistance area is nearby   Silver bulls roared back during Wednesday’s late European trading hours, with the metal soaring to a more-than-three month high of 25.14 before closing marginally below the 25.00 round level. The completion of a double bottom pattern around the 21.91 floor led to a bullish explosion, as the price advanced above the neckline of 23.51. While the bullish market structure in

US 30 index pulls back off rising trend line Stochastics endorse the bullish tendency The US 30 (cash) index is flirting again with the all-time high of 39,284.42 after the bounce off the 38,450 support level, which overlaps with the long-term ascending trend line. According to the technical oscillators, the MACD is trying to cross above its trigger line in the positive territory, while the stochastic is running towards the overbought region after the bullish cross within the %K and
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Technical Analysis – AUDUSD waits for direction after bullish break

AUDUSD squeezed between key levels Traders indecisive ahead of US retail sales   AUDUSD regained positive momentum and climbed above its exponential moving averages (EMAs) after breaking out of its 2024 bearich channel. But the 0.6620 region, which was a tough barrier in January, dented the upside forces following the flash spike to 0.6666. The technical indicators are sending mixed signals, though the nearby support area of 0.6600, which has been limiting downside movements, is p
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Technical Analysis – WTI oil futures fight with 80.80 bar

WTI crude rebounds off 200-day SMA Remains in an uptrend in the short-term WTI oil futures are finding a strong support level near the 200-day simple moving average (SMA) at 78.00 and are also struggling to jump beyond the 80.80 resistance. The price has been in an uptrend since mid-December with the technical oscillators suggesting a neutral to bullish bias.

Technical Analysis – Copper rises rapidly to 11-month high

Copper wins nearly 3.0% on production cuts Overbought signals detected around key resistance   Copper futures (May delivery) surged to an almost one-year high of 4.04 on Wednesday after China’s biggest producers agreed on a rare supply cut amid raw material shortages. Technically, the 61.8% Fibonacci retracement of the 2023 downtrend is currently under examination.
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NZDUSD finds support at short-term SMAs RSI and MACD still above mid-levels NZDUSD has been consolidating within a trading range of 0.6035 to 0.6215 over the last two months, remaining above the 200-day simple moving average (SMA). Currently, the 20- and the 50-day SMAs are acting as strong support lines with the technical oscillators indicating a slight upside move.
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Technical Analysis – Intel stock battles with 50-day SMA

Intel shares advance after consolidation period But struggle to conquer the 50-day SMA Momentum indicators turn positive Intel’s stock had been stagnant since late January, following a significant bearish price gap in the aftermath of the firm’s Q4 earnings announcement. Although the price attempted a recovery in the past few sessions, the 50-day simple moving average (SMA) seems to be acting as a strong ceiling.
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Technical Analysis – EURGBP starts to take a bullish shape

EURGBP gets rejected near 50-day SMA after rebound Market structure develops into a bullish double bottom pattern Buyers need a rally above 0.8577 to dominate   EURGBP could not surpass its 50-day simple moving average (SMA) at 0.8553 on Tuesday. However, the bullish double bottom pattern, which started to take shape around February’s base of 0.8500, might generate buying interest in the coming sessions in hopes the pair will soon stage an upside trend reversal.
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Technical Analysis – Gold advances again after rebound off 2,150

Gold turns up after negative retracement Technical signs are mixed Gold prices rebounded off the 2,150 support level after creating a bearish correction from the strong rally towards the fresh all-time high of 2,195 on Friday in the 4-hour chart. The technical oscillators are showing some contradicting signs as the MACD is losing momentum beneath its trigger line.
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Technical Analysis – USDJPY stuck inside a key range

USDJPY trades sideways in anticipation of next week’s key events USDJPY’s correction halted a tad above the 200-day SMA Momentum indicators support the bearish trend but with less conviction USDJPY is trying to record a green candle today as it tests the resistance set by the 146.65-148.28 range. The correction from the late February highs halted at the 200-day simple moving average (SMA) with market participants potentially positioning for the key events ahead, which include
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Technical Analysis – Gold advances again after rebound off 2,150

Gold prices rebounded off the 2,150 support level after creating a bearish correction from the strong rally towards the fresh all-time high of 2,195 on Friday in the 4-hour chart. The technical oscillators are showing some contradicting signs as the MACD is losing momentum beneath its trigger line. However, the stochastic is gaining some momentum following the bullish crossover within the %K and %D lines in the oversold territory.
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Technical Analysis – US 100 stock index at risk of double top

US 100 stock index forms bearish structure The market could balance selling forces above 17,800   The US 100 stock index (cash) seems to have formed a bearish double top pattern within a rising channel and around the peak area of 18,338. The bears will have to successfully complete that negative pattern below the 17,800-17,914 neckline to visit the 50-day exponential moving average (EMA) and the 23.6% Fibonacci of 17,389. Slightly lower, the constraining ascending line from Januar
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Apple shares slide to the lowest since October 31 But find their feet and recoup minor losses Momentum indicators exit oversold territories   Apple’s stock has been very volatile in the past few months, opening frequently with significant price gaps. In the short term, the stock has been in a steep decline, falling to a fresh four-month bottom of 168.30 last week before paring some losses.
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Technical Analysis – EURUSD in the middle of 2020-2022 downtrend

EURUSD trades neutral as US CPI inflation data loom Short-term upleg intact but risks remain below 1.0968   EURUSD has been capped below the 50% Fibonacci retracement of the 2020-2022 downtrend at 1.0945 since Friday's flash spike halted near the 1.0980 level and around the resistance trendline from May 2021 on Friday. The US CPI inflation data could generate fresh volatility today at 12:30 GMT, and the protective 50% Fibonacci retracement of the latest downleg is currently feed
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Technical Analysis – EURJPY drops below ascending channel

EURJPY descends below ascending channel But 50-day SMA prevents further retreats Momentum indicators are tilted to the downside EURJPY has been in a steady advance since December 2023, peaking at the 2024 high of 163.70 on February 27. Since then, the pair has been undergoing a minor correction breaking below the lower end of its upward sloping channel before finding strong support at the 50-day simple moving average (SMA).
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