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With gold coiling at its highs amid an accelerating trend, we’re looking for a break of 1300. We can see on the daily chart that the structure is firmly bullish and its trend is accelerating to show an increase of underlying momentum. Moreover, ...
A couple of weeks ago we highlighted Gold’s potential to re-test the October highs and, given the turn in investor sentiment and favourable seasonality, we still think it will eventually break higher. Over its 30-year monthly average, gold has ...
One by one FX majors point towards a broader USD reversal, with the Swiss franc now coming onto our radar. We can see on the weekly chart that USD/CHF has had a tough time above parity since October 2017. That’s not to say it hasn’t tried to hold ...
A quick update on AUD following thestrong employment dataseen earlier today. Last week we highlighted the potential for AUD to carve out a new low, although part of the process involved establishing a new range before breaking higher. Having since ...
Since its sell-off from multi-year highs, WTI is within its most bearish 5-week run since January 2016. And whilst momentum favours a test of $60, the risk of a retracement from current levels appears high. Starting with the daily chart, we note ...
Hawkish FOMC minutes, a stronger greenback and higher inventories were enough to push WTI crude back below $70 yesterday. Momentum suggests the move isn’t over just yet. By yesterday’s close WTI had suffered its largest slip in 9-weeks. Still, its ...
The British pound finds itself on the back foot following a breakdown in Brexit talks over the weekend. Taking a closer look at the daily chart we cansee the range produced several bearish reversal patternsnear the highs, including three bearish ...
It’s safe to say it’s been a volatile week for markets and a bad one for stocks. But, with the rout showing early signs of abating, we’d like to finish the week focusing on a market which went up this week. At the beginning of the month we ...
Gold has spent the best part of the year under heavy selling pressure, but several clues point towards its potential to break this trend. We can see on the weekly chart that bears have had a field day since the 2018 high. Most notably its fall from ...
EUR/USD broke out of a 4-day consolidation pattern earlier today. Whilst the direction was against bullish wishes, markets are now fully focused on the neckline of a 10-week reversal pattern. An inverted head and shoulders on the daily chart ...
CHF/JPY may not be the immediate choice for a speculative trade but, with it displaying such a directional move, we think it’s worthy of a look. We can see on the daily chart that a bullish breakout occurred last week, taking it to a six-month high. ...
Since ourprevious USD/CHF post, the pair broke to new lows in a seemingly direct route. We raised thepotential for a 300-point dropandour bearish view remains whilst we trade beneath the 0.9788-0.9808 resistance zone. If successful, it could reach ...
Since the 0.9983 high, USD/CHF has printed its worst 10-day run since February. And with extreme positioning of the US dollar and Swiss franc, we think it has the potential to extend losses. We can see on the daily chart that USD/CHF has been ...
Despite the sharp fall from the highs, AUDNZD’s structure remains favourable to bulls as they gather above a cluster of support levels. We can see on the daily chart that, after piercing our 1.1140 target a sharp correction ensued. Whilst a 50% ...
With AUD/JPY being a barometer of risk for FX, it’s been no major surprise to see the cross slump alongside investor sentiment as the Turkish crisis unfolded. But with it testing the lower bound of a 5-month range, this could be the beginning of the ...
Higher inflation expectations helped cap AUD/NZD’s rally ahead of tonight’s RBNZ meeting. But with the trend favouring further upside, it could be too soon to write off another push higher just yet. We can see on the daily chart that two prominent ...
The parabolic moves on USD/CNH has seen AUD and Asian currencies in general come under pressure. So, with its break to a fresh 11-month high today, AUD/USD is back under the spotlight for a move lower. Last month USD/CNH endured its second most ...
After stopping just short of the 1236.32 lows, this week’s candle is now on track for a bullish hammer or pinbar reversal. That this occurred after failing to break beneath the Keltner channel also points towards a rebound. The daily chart shows a ...
A stream of weak data, brewing trade wars and a growth warning from RBNZ has resulted in NZD being the weakest major over the past three months, allowing AUD to regain some ground and send AUD/NZD back to May’s high. We warned upside pressures were ...
The FX barometer of risk tried to break to its lowest level since November 2016 this week. And with bullish momentum sorely lacking, we’re seeking opportunities to enter short. We can see on the weekly chart that price action has been confined to a ...