Market analysis from FOREX.com
The U.S. index has been gaining more than 2% in recent trading sessions, and the bullish bias has remained intact since the Federal Reserve’s decision during yesterday’s session. The central bank once again opted to keep the interest rate steady at 4.5%. However, according to some comments, Chairman Powell mentioned that the economy is approaching a point where it...
EUR/USD has extended more than 2.6% off the yearly highs with tight monthly & weekly opening-ranges preserved heading into today’s FOMC rate decision. The focus is on a breakout of the 1.1275-1.1420 range. EUR/USD continues to trade within the confines of a descending pitchfork extending off the monthly highs. Initial support rests with the 2023 swing high at ...
Over the last five trading sessions, Nvidia’s stock has gained more than 9%, and short-term bullish momentum remains intact as the tech giant appears to benefit from expectations of a potential easing in trade war tariffs. Notably, the company’s CEO, Jensen Huang, recently stated that the Chinese market for artificial intelligence chips could reach $50 billion...
Sterling finds itself walking a financial tightrope this week. The GBP/USD is delicately poised between transatlantic central bank decisions and murky trade headlines. As the Federal Reserve holds court across the pond and the Bank of England gets ready to show its hand, traders are bracing for a possible divergence in tone—and in policy. The dollar has taken a...
How EUR/AUD interacts with the 50DMA in the near-term may offer a useful steer on directional risks over the medium-term. For now, it’s bounced off the level, finding buyers after the initial disappointment from China’s latest support measures. Still, the long topside wicks on the past two daily candles, coupled with increasingly bearish momentum, suggest downside...
Ford's stock gained more than 5% in the latest session after the company’s earnings were released following the close of yesterday’s trading. For now, investor confidence remains strong, as the company reported earnings of $0.14 per share, significantly beating expectations of $0.02, and revenue of $37.42 billion, above the estimated $36.21 billion. In addition,...
US stocks trimmed their earlier losses after the Trump administration delivered the latest dose of jawboning. This time it was trade secretary Scott Bessent, saying trade negotiations with several partners are going well and that there is a possibility of “substantial reduction” in tariffs on US goods. He added some deals could be announced as early as this week....
USDJPY remains above the 0.618 Fibonacci retracement zone at 139, stemming from the uptrend between January 2023 (127.20) and July 2024 (162.00). However, the pair is currently trading below resistance at 146, steering the trend back toward key support levels at 142 and 139. A decisive break below 139 could expose new 2025 lows near 138.30 and 134.60, both key...
Gold is currently testing the 0.618 Fibonacci retracement of the drop from $3,500 to $3,200, located at the $3,380 level. A clear hold above 3390 could pave the way back toward $3,430 and the $3,500 resistance zone. • A breakout above $3,500 may extend the rally toward $3,700 and the $4,000 target zone. • On the downside, short-term support levels may be seen...
Gold delivered a powerful signal pointing to a resumption of the bullish trend, completing a morning star pattern that saw it break out of the falling wedge it had been trading over the past fortnight. It would have been nice to catch the initial move, but all is not lost after the price broke above $3367 on Tuesday. The price has run hard, so I’m reluctant to...
Euro is off more than 2% from the yearly high with EUR/USD carving the weekly opening-range just above multi-month uptrend support. From a trading standpoint, rallies would need to be limited to Friday’s high IF price is heading lower on this stretch with a break below the lower parallel exposing eh 2024 high at 1.1214 and 1.1160- both levels of interest for...
In today’s session, BTC has once again posted a decline of over 2%, as the previous bullish bias struggles to break through the $95,000 resistance level. The neutrality forming on the chart around this zone reflects the uncertainty in market sentiment, which is also evident in the Crypto Fear and Greed Index, currently oscillating in the neutral range at 45...
In contrast to EURUSD, the GBPUSD chart reflects a double top or flat rather than a head-and-shoulders pattern. However, unlike DXY and EURUSD, GBPUSD hasn’t broken below its neckline, maintaining a bullish bias as RSI continues to show positive momentum. • Upside Scenario : If the pair breaks above the 1.3345 high, the next targets are 1.3380, 1.3400, 1.3440,...
AUD/USD closed last week at the highest level of 2025 and has extended the move today, pushing above the key 200-day moving average. The rally coincides with further strength in the offshore-traded Chinese yuan, which also finished last week at 2025 highs against the U.S. dollar. While the price action is undeniably bullish—mirrored by strengthening momentum...
The net result of the Bank of Japan rate decision has been Yen-weakness, with USD/JPY initially showing an explosive move with a breakout beyond 145.00. That move couldn't hold, however, with an assist from the underside of a bullish trendline helping to cap the weekly highs, leading to a push back-below the 145.00 handle. For next week there's remaining bullish...
The FOMC rate decision next week will likely have some pull on the matter but for now, the US Dollar is working on its second consecutive green week for the first time since the high in January. Resistance has so far held at last year's swing low of 100.22 but bulls put in some push over the past week and it seems unlikely that the Fed will suddenly go dovish...
Gold is working on its second consecutive red week which would be the first such occurrence in 2025. Interestingly, gold had only posted two red weeks in the prior 16, until the $3500 level came into play. That high in gold syncs with a long-term spot of support in the US Dollar, and going into next week's FOMC meeting the two scenarios appear linked as a dovish...
The US dollar traded mixed shortly after the NFP was released, as risk-on sentiment remained the prevailing trend. As index futures rose further, commodity dollars extended their gains against the greenback, while the USD/JPY attempted to find support around the key 144.00 - 144.50 area. This zone was resistance in the past so let's see if the UJ will be able to...