GBP/JPY falls toward the 50-Day SMA (191.59) after registering a fresh yearly high (200.55) at the start of the week.
GBP/JPY Outlook
The opening range for May is in focus for GBP/JPY as it marks the largest two-day decline since December 2022, and failure to hold above the moving average may lead to a test of the April low (190.00) as the Relative Strength...
USD/CHF gives back the advance from earlier this week to keep the Relative Strength Index (RSI) out of overbought zone.
USD/CHF Rate Outlook
In turn, failure to test the October 2023 high (0.9245) may curb the recent series of higher highs and lows in USD/CHF, with a breach below the weekly low (0.9089) bringing the 0.9030 (38.2% Fibonacci extension) to 0.9040...
The price of gold appears to be trading in a descending channel as trades to a fresh weekly low ($2290), but the precious metal may respond to the positive slope in the 50-Day SMA ($2222) if it continues to hold above the monthly low ($2229).
Gold Price Outlook
The price of gold may continue to give back the advance from the monthly low ($2229) as the Relative...
The US Dollar Index struggles to retain the rebound from last week’s low (105.41), but DXY may attempt to further retrace the decline from the November high (107.11) as a bull-flag formation takes shape.
DXY Outlook
DXY appears to be stuck in a narrow range after pushing the Relative Strength Index (RSI) into overbought territory for the first time in 2024,...
GBP/JPY approaches the August 2015 high (195.28) as it extends the series of higher highs and lows from earlier this week.
GBP/JPY Outlook
GBP/JPY trades to a fresh yearly high (194.95) following the failed attempts to close below the 50-Day SMA (190.98), and a further advance in the exchange rate may push the Relative Strength Index (RSI) into overbought...
USD/CHF may continue to track the positive slope in the 50-Day SMA (0.8942) as it bounces back ahead of the monthly low (0.8998).
USD/CHF Rate Outlook
USD/CHF extends the advance from earlier this week to register a fresh monthly high (0.9153), with a break/close above 0.9180 (23.6% Fibonacci extension) bringing the October 2023 high (0.9245) on the radar.
A...
AUD/JPY appears to be on track to test the monthly high (100.81) following the failed attempt to close below the 50-Day SMA (98.14).
AUD/JPY Rate Outlook
AUD/JPY may track the positive slope in the moving average as it extends the rebound from the monthly low (97.78), with a break/close above 100.90 (38.2% Fibonacci extension) bringing the December 2014 high...
The price of gold marks the biggest single-day selloff since February 2023 to pull the Relative Strength Index (RSI) back from overbought territory.
Gold Price Outlook
The price of gold seems to be under pressure after failing to test the monthly high ($2432), and the precious metal may face a further decline as the RSI pushes below 70 to indicate a sell...
After yesterday’s sharp drop, crude oil prices extended their losses first thing this morning, before bouncing off their lows. Oil was already under pressure on fears about demand following the weaker Chinese industrial data that was released on Tuesday and the larger crude build in the US as was reported by API on Tuesday. But prices fell about 3% after official...
BTC/USD trades below the 50-Day SMA ($62719) as it slips to a fresh monthly low ($59677), and failure to defend the March low ($59675) may lead to a further decline in the price of Bitcoin amid the lack of response to the positive slope in the moving average.
BTC/USD Outlook
BTC/USD approaches the December 2021 high ($59102) as it carves a series of lower...
The US Dollar Index may continue to retrace the decline from the November high (107.11) as it extends the series of higher highs and lows from last week.
DXY Outlook
Keep in mind, DXY bounced back from the 50-Day SMA (104.13) to stage a five-day rally, with the advance in the index pushing the Relative Strength Index (RSI) into overbought territory for the...
GBP/JPY may continue to track the positive slope in the 50-Day SMA (190.31) as it rebounds from the moving average.
GBP/JPY Outlook
GBP/JPY looks poised to test the monthly high (192.99) as it retraces the decline from the previous week, with a breach above the March high (193.54) opening up the August 2015 high (195.28).
However, the Relative Strength Index...
Gold investors face a key dilemma as rising geopolitical risks could keep the metal supported on dips, but higher yields continue to increase opportunity cost of holding it, esp. with USD rising...
Gold bounces back but a correction could be on the way
This morning saw gold manage rebound after Friday's bearish close, although the positive performance of...
USD/CHF clears the November high (0.9113) to push the Relative Strength Index (RSI) back into overbought territory.
USD/CHF Rate Outlook
USD/CHF breaks above the opening range for April after defending the monthly low (0.8998) earlier this week, with a break/close above 0.9180 (23.6% Fibonacci extension) opening up the October high (0.9245).
The move above 70...
The price of gold continues to register a fresh record high ($2365) as it extends the advance from the start of the week, with the ongoing rally in the precious metal keeping the Relative Strength Index (RSI) above 70.
Gold Price Outlook
The recent rally in the price of gold may persist as it carves a series of higher highs and lows, and the overbought reading...
BTC/USD approaches the March high ($73791) as it trades to a fresh monthly high ($72727), and a further rise in Bitcoin may trigger another overbought reading the Relative Strength Index (RSI) as the oscillator climbs toward 70.
BTC/USD Outlook
BTC/USD may attempt to break out of the March range as it holds above $65470 (261.8% Fibonacci extension), with a...
GBP/JPY pulls back from a fresh weekly high (192.25), but the exchange rate may track the positive slope in the 50-Day SMA (189.66) as it continues to hold above the moving average.
GBP/JPY Outlook
GBP/JPY carves a series of higher highs and lows as it extends the advance from the weekly low (190.05), with a break/close above the 192.40 (50% Fibonacci...
Join Strategist David Song to cover the key event risk that could influence financial markets in the week ahead. Discuss major fundamental themes along with current market developments.
