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Wednesday, 7 December 2022

Euro Bumped up by US Dollar Weakness and a GDP Beat. Where to for EUR/USD?

The Euro has steadied against the US Dollar on Thursday as the market ponders the path of Fed rate hikes and technical resistance levels remain overhead for now. Will EUR/USD rally?

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Crude Oil Price Outlook: WTI Set for Worst Week Since March? Falling Wedge in Focus

Crude oil prices are nearing a 10 percent loss this week, which would be the worst since March amid rising recession woes. WTI appears to be trading within a Falling Wedge chart pattern.

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S&P 500 and USDJPY Abide Technical Ranges Even as Volatility and Recession Fears Grow

The economic docket is thinning out, shifting the focus from imminent volatility catalysts to anticipation for the heavy fundamental seas next week. That may or may not chasten the recent rebound in VIX, but it is likely to bolster the weight of technical barriers from the likes of the S&P 500 and USDJPY.

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Bitcoin Falling Wedge, Ethereum Triangle: Continued Consolidation

Bitcoin and Ethereum have been relatively calm given the headlines, with each market consolidating over the past few weeks.

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WTI Crude Oil Slumps to Fresh Yearly Low amid Recessionary Fears

WTI continued its decline in European trade printing a new YTD low. Continued dollar strength and EIA data could result in further losses.

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British Pound (GBP) Latest – GBP/USD Steered by Renewed Dollar Strength

The US dollar is pushing higher ahead of next week’s FOMC meeting, leaving a range of major currencies, including Sterling, struggling in its wake.

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Tuesday, 6 December 2022

The US Dollar Gripped the Ascendency as Risks of Recession Swirl. Will USD go Higher?

The US Dollar held on to overnight gains as markets recalibrate risks of an economic slowdown in the West against a re-opening of China. Will the DXY index (USD) rally?

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Australian Dollar Steady Despite GDP Disappointment. Where to for AUD/USD?

The Australian Dollar was little changed in the aftermath of underwhelming third quarter domestic GDP data and revisions lower of previous quarters. Will AUD/USD sink?

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A VIX ‘Breakout’, Heavy Dollar Technicals, BOC Volatility and Recession Signals

The markets carried over greater market activity this past session with the VIX clearing its two-month descending channel and the S&P 500 extending its slide; but systemic trends will still be difficult to form from here. Yet, that doesn’t preclude volatility in ranges like the Dollar-majors or from event risk like a BOC hike.

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S&P 500, Nasdaq, Dow: Key Support Zones Now in Play

The high-flying Dow has pulled back to support at a prior swing-high, and the Nasdaq is brewing a double top formation.

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USDCAD May Not Be the Most Responsive Loonie Cross to the BOC Decision

The Bank of Canada rate decision is on tap for Wednesday, and there is debate around what the central bank intends to do with its policy. USDCAD will be a focus for many monitoring this higher profile event, but there are probably more volatile Loonie crosses to follow.

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Monday, 5 December 2022

Gold Price Sinks on ISM Services Surprise, XAU/USD Bearish Technical Warning Eyed

Gold prices sank on Monday as the US Dollar gained after an unexpectedly strong ISM Services print. XAU/USD left behind a bearish Evening Star, will that spell trouble ahead?

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Japanese Yen Tumbles as US Dollar Soars, Australian Dollar Turns to the RBA Next

The Japanese Yen slumped, sending USD/JPY higher in a very rare move as the US Dollar gained and stocks dropped. Ahead, the Australian Dollar is eyeing a likely RBA rate hike.

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Dollar and Risk Asset Reversals Throw Off Anticipation of Major Tend Developments

There was some exceptional volatility last week and the hints of tentative trend developments – most notably a breakdown of the Dollar and attempted rally for US indices. Yet, those moves have abated to start the new week with data and technical levels playing a bigger role in market conviction.

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S&P 500 Technical Analysis: Trendline Resistance, 4k Support Test

The S&P 500 found resistance last week at a key spot, but is this a mere speed bump for bulls on the way to a Santa rally? Or are bears gearing up for another downside push?

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USDJPY Attempts to Pull Out of Bear Wave as Retail FX Traders Flip Net Long

The Dollar has enjoyed a broad bounce to start the week and USDJPY is one key pair that is seeing the turn work around major technical levels. There is technical precedence from earlier this year that suggests such a large jump can revive bulls – but is the prevailing trend still bullish?

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Sunday, 4 December 2022

Crude Oil Forecast: EU Sets Russian Oil Price Cap at $60, OPEC+ Unchanged

Brent crude oil is trading marginally higher this Monday after the EU decided on a Russian oil price cap of $60 per barrel.

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