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Fundamental Backdrop BOC monetary policy statement today, expected to maintain. Potential bearish pressure coming into USDCAD if BOC hikes. Technical Confluences Near term resistance level at 1.36374. Near term support level 1.33166. Idea We believe that the BOC will maintain interest rates and this will solidify the notion that USDCAD will...

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Fundamental Backdrop RBA hike rates by 0.25bps today, resulting in strong bullish momentum. RBA hiking rates highlights the stubborn level of inflation that AUD faces. Technical Confluences Near term resistance level at 0.67066 where price can potentially react to. 0.67066 will serve as a point of target. Idea Will wait for retracement before...

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Fundamental Backdrop ISM Services PMI forecast at 52.6 with 51.9 previous. EUR Services PMI along with ECB Lagarde speaking may induce volatility in the market. Hawkish tone will result in bullish momentum in EURUSD, vice versa. Technical Confluences Resistance level at 1.0765 where price has rejected. Support level at 1.0533 which could be a potential...

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Fundamental Backdrop ISM Services PMI forecast at 52.6 with 51.9 previous. Technical Confluences Resistance level at 1983 Support level at 1946 Price is currently hovering around the support level and we could potentially see rejection off this level Idea Monday asian session, hence will wait for price to stabilise before entering onto any...

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Fundamental Backdrop Overnight Rate on Wednesday is expected to maintain at 4.50% Technical Confluences Resistance level at 1.36374 Support level at 1.33166 Idea If the Overnight Rate maintains at 4.50% as expected, we could see the price drop towards the support level at 1.33166. However, if the Overnight Rate increases, we could see the price...

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Fundamental Backdrop CPI m/m expected to increase 0.3% on Monday Technical Confluences Current resistance level at 0.90856 Next resistance at 0.92158 Near-term support level at 0.89876 Idea If the CPI increases at 0.3% as expected or more, we could see the price break the current resistance at 0.90856, before heading towards the next resistance...

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Fundamental Backdrop RBA Gov Lowe mentioned "Very Much in Data-Dependent Mode on Interest Rates", "Monetary Policy in Restrictive Territory" This means that the RBA is closely monitoring economic data and could potentially continue increasing interest rates CPI y/y also increased from 6.3% to 6.8%, this shows inflation is still on a strong rise which can...

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Fundamental Backdrop RBA Gov Lowe spoke today He mentioned "Very Much in Data-Dependent Mode on Interest Rates", " "Monetary Policy in Restrictive Territory" This means that the RBA is closely monitoring economic data and could potentially continue increasing interest rates CPI y/y also increased from 6.3% to 6.8%, this shows inflation is still on a strong...

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Fundamental Backdrop USD's CB Consumer Confidence is expected to drop from 101.3 - 99.1 It's a leading indicator of consumer spending, so a drop would show that overall economic activity has decreased Technical Confluences Resistance at 0.90600 Support at 0.90100 Idea If the CB Consumer Confidence comes out as expected at a decrease, we could...

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Fundamental Backdrop The key takeaways of last week's FOMC meeting show that the FEDs agreed on the need for more rate hikes after May's meeting was 'less certain'. We will likely be seeing strength in the USD. We could see investors shift their money from GOLD to USD instead, weakening it. Technical Confluences Near-term resistance level at 1948 ...

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Fundamental Backdrop Last week, notably the German Flash Manufacturing PMI and French Flash Services PMI dropped a lot causing the EUR to weaken. This week there's only the German Prelim CPI m/m which is also expected to decrease from 0.4% to 0.2%. This will cause the EUR to weaken further. Technical Confluences Near-term resistance level at 1.07350 ...

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Fundamental Backdrop RBA Gov Lowe speaking on Wednesday. He repeated that the RBA would have to resort to the only “blunt instrument” at its disposal, which was to keep increasing interest rates. Previously an increase to the interest rates only caused the AUD to weaken further. Technical Confluences Near-term resistance level at 0.65700 Near-term...

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Technical Confluences Resistance level at 29500 Support level at 27000 Idea Overall, price has been on a bull run since 21st November 2022. In terms of price action, price looks clean on the left side of the chart. We could see price continue bullish to retest the resistance at 29500. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted...

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Fundamental Backdrop The CB Consumer Confidence, JOLTS Job Openings, Non-Farm Employment Change are expected to drop. The Unemployment Rate is also expected to increase. These news events will cause the DXY to weaken. Technical Confluences Near-term resistance level at 104.800 Near-term support level at 103.800 Next support at 103.200 Idea On...

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Fundamental Backdrop The USD is expected to pause interest rates, causing investors to shift their money to Gold. Technical Confluences Resistance at 2001 Current support at 1981 Major support at 1960 Idea We could possibly see price retrace back up to retest the resistance at 2001. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas...

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Fundamental Backdrop This week watch out for notably the German Flash Manufacturing PMI and Flash Services PMI. The German Flash Services PMI is expected to drop from 56 to 55. This can cause the EUR to weaken further Technical Confluences Resistance at 1.09900 Near-term support at 1.07550 Major support at 1.05340 Idea We could possibly see...

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Fundamental Backdrop The Wage Price Index q/q maintained at 0.8% which shows that the economy has not improved. Employment Change suffered significantly, dropping from 61.1k to -4.3k, which shows that consumer spending has been greatly reduced. Unemployment Rate also increased from 3.5% to 3.7%, showing that overall economic health has detoriated. ...

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Technical Confluences Current resistance at 26652.45 Support at 25214.57 Idea On the Daily timeframe, the price has been on a downward retracement for the whole of last week. BTCUSD is currently resting along the support-turned-resistance level at 26652.45. If the bearish momentum continues, we could see the price retest the major support at...