Technical Analysis

The ECB cut rates but does not commit to a path of future rate moves: ECBs expects growth to pick up to 0.9% in 2024 vs 0.7% prev. Inflation forecast 2.5% in 2024 (vs 2.3% prev), 2.2% in 2025 (versus 2.1% prev) and 1.9% in 2026 (vs 1.9% prev). Growth forecast 1.4% in 2025 vs

The AUDUSD is lower on the day but did find support buyers near support at 0.6622. The bounce higher, however, has moved up to test the low of a cluster of moving averages between 0.66448 and 0.66545. As long as the price can remain below those moving averages, keeps sellers more in control. Overall, the

Fundamental Overview The mood in the markets has been slowly improving this week after the month-end flows last week impacted the risk sentiment. The US data this week came on the softer side which sent Treasury yields lower and consolidated the market’s expectations of two rate cuts by the end of the year. The risk-on

USDJPY tests swing area (yellow area) and finds buyers The USDJPY fell sharply today and in the process fell below the 50% midpoint of the move up from the mid-May low at 155.647 and the 61.8% of the same move at 155.162. However, the support swing area between 154.594 and 154.878 stalled the fall. The

Fundamental Overview The USD yesterday came under pressure following the miss in the US ISM Manufacturing PMI which triggered a drop in Treasury yields. In terms of market pricing, not much has changed as we still oscillate between one and two rate cuts by the end of the year. Nonetheless, the data reinforced the narrative

USDCHF falls below the 50% and looks toward the 100D MA The USDCHF is trading to new lows and in the process has moved below the 50% retracement target. That level comes in at 0.89763. The fall take the price closer to the rising 100-day MA. That MA comes in at 0.89277. The price of

Fundamental Overview The USD last week got a boost from the strong US Consumer Confidence data which triggered an aggressive rise in long term Treasury yields. The report however just showed that the labour market remains resilient which is good news for growth and not necessarily bad news for inflation. Eventually, both the Treasury yields

The USDCAD traded lower despite the we can expected GDP data today, but in the process is tested a swing area support between 1.36049 and 1.36154. Support buyers came in against the level and pushed the price back to the upside. On the top side, the 100-bar moving average on the 4-hour chart at 1.3658

The EURUSD yesterday moved higher until it reached its 100 and 200-hour moving averages. Sellers leaned against that level and push the price down into the Asian session where support buyers came in against its 100 day moving average (blue line at 1.08074).The price then started a move to the upside breaking back above the

S&P tests dual support level The US stocks continued their decline with the S&P index now down -33.74 points at 5201.92. The low price extended to 5191.68, and in the process tested key support defined by its 200-hour moving average at 5191.63 currently (green line on the chart below) and the 38.2% retracement of the

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Fundamental Overview The USD got a boost from the strong US Consumer Confidence data which triggered an aggressive rise in long term Treasury yields. The report however just showed that the labour market remains resilient which is good news for growth and not necessarily bad news for inflation. The greenback benefited also from the risk-off

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Fundamental Overview The USD got a boost from the strong US Consumer Confidence data which triggered an aggressive rise in long term Treasury yields. The report however just showed that the labour market remains resilient which is good news for growth and not necessarily bad news for inflation. The greenback benefited also from the risk-off

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Fundamental Overview Crude oil has been falling steadily since topping around the $87.50 level following the mutual retaliations between Iran and Israel. The drop has been kind of a head-scratcher as the market didn’t respond positively to the global growth expectations amid China and other major central banks policy easing, improving PMIs and OPEC+ extending

As the trading day works to the close, the EURUSD has stalled at highs near a key swing area, and moved down toward the 200-hour MA at 1.08519 and then the 100-hour MA at 1.08347. Those two moving averages will play a key technical role in the new trading day. Move below would increase the