Latest Analysis

Technical Analysis – USDJPY stages recovery, but remains in downtrend

USDJPY staged a fierce recovery over the last few sessions. The pair found fresh buy orders near 129.65 and has risen to challenge the 131.

Technical Analysis – EURUSD pulls back but 50-day SMA caps downside

EURUSD had been steadily gaining ground after finding its feet at the March low of 1.0515. Nevertheless, the pair encountered strong resistance and pared a part of its gains before the 50-day simple moving average (SMA) curbed further retreats.

Technical Analysis – Gold struggles for direction after advance pauses

Gold has experienced significant gains since early March mainly due to the turmoil observed in the global banking sector.

Deutsche Bank has dropped to a five-month low amidst the latest banking sector shenanigans. It has been an aggressive correction since the January 30 high of 12.

Technical Analysis – Citigroup tests lower boundary of year-long range

Citigroup is trading very close to the lower boundary of a year-long rectangle. This 42.81-54.30 range survived the October 2022 downside breakout, revealing a precarious balance among market participants.

Technical Analysis – GBPJPY slices through 50-day SMA as decline resumes

GBPJPY has been losing ground after its 2023 advance got rejected at the 166.00 region in early March. Even though the pair attempted to rebound after finding its feet near the 50-day simple moving average (SMA), the upper boundary of the Ichimoku cloud and the 200-day SMA curbed the upside.

CADJPY snapped a two-month winning streak, extending its March losses to the 2023 low of 94.62 this week. Strikingly, the price has also reached the extension of the support trendline drawn from the 2020 pandemic low at 95.

Technical Analysis – USDCAD looks for recovery after peaking at 1.3860

USDCAD has been consolidating losses since the day it surged to 1.3860 and holds near the 20-day simple moving average (SMA).

Technical Analysis – US 30 index grinds lower, outlook cautiously negative

The US 30 index (cash) has been under pressure so far this year, although the decline has not been very dramatic.

Technical Analysis – ETHUSD consolidates after advance pauses

ETHUSD (Ethereum) has been in a steady uptrend since the beginning of the year, generating a fresh six-month high of 1,846 in mid-March.

Technical Analysis – Will palladium futures rebound from pandemic lows?

Palladium futures (June delivery) have been trending southwards within a bearish channel since the beginning of November, sliding marginally below the 2020 pandemic low of 1,358 two weeks ago before edging moderately up.

Technical Analysis – Natural gas implodes, erases war-related gains and more

Natural gas futures (April delivery) went into freefall in recent months, erasing all the gains since the Ukraine war started and losing further ground beyond that.

Technical Analysis – USDZAR turns down, challenges key support zone

USDZAR has been consolidating over the past month, trading between 18.05 and 18.70 without a clear direction.

Technical Analysis – Gold bulls take a breather after 1-year high above 2,000

Gold struggled to jump above the immediate resistance of 1,985, keeping its footing above the short-term simple moving averages (SMAs) in the 4-hour chart.

EURUSD extended its post-FOMC rally to a seven-week high of 1.0928 early on Thursday following a rapid rise above the constraining ascending line from October, which had been capping bullish actions during this month.

Technical Analysis – WTI oil futures bounce off 15-month low; bearish bias intact

WTI oil futures (May delivery) broke below their rectangle pattern, which held strong since late November, posting a fresh 15-month low of 64.

Technical Analysis – AUDUSD tests the 200-day SMA after rebound off 0.6560

AUDUSD rebounded off the 0.6560 support level and is heading towards the 200-day simple moving average (SMA), which stands near 0.

Gold: Top-down Technical Analysis

During tumultuous times like the current Credit Suisse-bailout period, the top-down technical analysis could be the compass for market investors/traders.

Technical Analysis – USDJPY finds support ahead of FOMC, but bears still loom

USDJPY turned green ahead of Wednesday’s FOMC policy announcement, pivoting on the tentative support trendline that joins the lows from January and February on Tuesday.

GER40 cash index is edging lower after touching the January 17 high of 15,271 and the 50-day simple moving average (SMA).

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