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DXY: The DXY chart currently exhibits a bearish overall momentum, indicating a weakened US Dollar. In this scenario, there’s potential for a bearish continuation towards the 1st support level. The 1st support at 101.77 is significant for several reasons. It is categorized as an overlap support and coincides with the 50% Fibonacci Retracement level, making […]

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14/08/2024

USDJPY’s Sideways Trading Might End Abruptly

USDJPY continues to hover around the 146 area Market participants are preparing for the US CPI release Momentum indicators remain mixed USDJPY continues to trade sideways, hovering around the 146.65-147.71 area for the fifth consecutive session. The bears are holding most of the gains of the sizeable correction from the early July high of 161.94, […]
26/06/2024

EURJPY Builds Base Slightly Near 40-year High

EURJPY stands well above uptrend line RSI flattens but MACD strengthens its momentum EURJPY has rebounded off the long-term ascending trend line near 167.70, sending the market above the previous peak of 170.80. A successful jump above the 40-year high of 171.56 could help the pair to surge towards the next round numbers such as 172.00 and 173.00. […]
27/06/2024

WTI Crude Oil Moves Sideways in Near Term

WTI crude oil fails to rally above 81.90 RSI and MACD remain above mid-levels WTI crude oil has been on the sidelines for the most part of the week as the 81.90 level seems to be a real struggle for the bulls. Technically, the price could gain some ground in the short-term as the RSI is changing […]