Technical Analysis

Yesterday at this time, the price of gold was trying to stay below the 100/200 hour MAs near $2510 (blue and green lines). Sellers could not keep the pressure on and the sellers turned to buyers. After some intraday volatility yesterday, buyers returned and pushed the price back up to the ceiling area between $2526.43

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 continues to remain under pressure amid positive risk sentiment and the imminent rate cuts from the Fed which should help global growth. These are generally bearish drivers for the greenback. In fact, the recent strong appreciation of the NZD has been mostly driven by the US Dollar side of the equation.

Solana (SOL) price prediction: Bullish vs. bearish scenarios for the future value of SOL The Solana (SOL) cryptocurrency has been one of the most talked-about assets in the crypto space, known for its high-performance blockchain and a surge in market value in recent years. As someone who has actively traded Solana since its early days,

The major US indices got a boost from lower-than-expected PPI data. Tomorrow the CPI will be released. The PPI data does not necessarily translate into the CPI, but there is some crossover to the PCE data that will be released later this month. Tomorrow, CPI is expected to show a 0.2% gain after a -0.1%

The Canada jobs data had something for everyone today. The unemployment rate was steady vs. last month at 6.4%, but lower than the estimate of 6.5%. The employment data showed a decline of -2.8K for the 2nd consecutive month decline, but there was 61K of full time jobs but -64K of part time jobs. So

The NZDUSD had a rollercoaster ride today with the pair reaching a new low for the year (but only by 3 or so pips). That low took out lows from April and July. After failing on the brake, the price rocketed higher, erasing all the declines and trading higher on the day. At the high

The old adage is that if the US catches a cold, Canada gets the flu. The market is certainly sending warning signals about the US economy as yields plunge but USD/CAD hasn’t made a decisive move yet. But that moment might not be far off as the pair threatens a trio of highs from 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

NASDAQ bounces off 38.2% and fills a gap The NASDAQ index move down to a low of 17352.93. In a prior post I outlined the area as a target level. The level corresponds with the 38.2% retracement of the move-up from the May low. That level comes in at 17353.82. It also corresponds roughly with

FTSE China A50 Index Futures: A practical guide for investors The FTSE China A50 Index Futures (ticker: XIN9) are a vital tool for international investors aiming to tap into China’s vibrant A-share market. Traded on the Singapore Exchange (SGX), these futures mirror the performance of the 50 largest A-share companies listed on the Shanghai and

The EURUSD moved lower in the US session and in the process moved down to test the 50% midpoint of the trading range since the December 2023 high. That level comes in at 1.08695. The current price is at 1.0888. The bounce off that support target is a key bounce and bullish signal. Going back

The 2-10 year spread has not been positive since July 2022. The most recent high close (most narrow negative spread) is coming near -16 basis point. Today the spread rose to -27.3 basis point which would be its highest close since January 29. Since June 25, the spread has moved from -50 basis points to

The NZDUSD rallied toward the end of last week’s trading, after sellers had their shot on the break of both the 100/200 day MAs earlier in the week. The move higher initially extended to the 200 bar MA on the 4-hour chart, before correcting lower midweek. On Friday, buyers returned after the US jobs report

Fundamental Overview The USD yesterday weakened across the board following soft US Jobless Claims and ISM Services PMI reports. Overall, the data didn’t change much in terms of interest rates expectations, but it reinforced the view that the Fed is going to deliver at least two rate cuts by the end of the year. The

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Yesterday, we also got the US Jobless Claims figures where the data showed that the labour market continues to rebalance via less job

Fundamental Overview Copper remains under pressure, albeit the bearish momentum appears to be slowing. Last week, the FT reported that stockpiles in Shanghai warehouses hit their highest level since 2020 amid weak demand due to China’s real estate sector downturn. Given the high prices reached in the previous month, manufacturers refrained from buying since they

As the clock ticks to the end of the trading week, the USDCAD has moved higher after reaching a new low for the week earlier in the trading day. On the way to the low, the price did move back below its 200 bar moving average on the 4-hour chart at 1.3687. It also fell