Technical Analysis

A rebound off trend support keeps the focus on a breakout of the weekly range heading into NFPs on Friday. Battle lines drawn on the DXY short-term technical charts.

EURUSD, Dow Forecast: The EURUSD maintains its rebound above the key 1.0333 level, while the Dow pauses near record highs above 45,000, and the DXY holds steady at critical support ahead of Friday's NFP.

Australian Dollar is poised for a breakout with AUD/USD coiling just above support near the yearly lows. Battle lines drawn on the Aussie short-term technical charts.

What are the odds of a Deecember melt up in the S&P 500?

Euro rallied 2.5% off the yearly low with EUR/USD carving the December opening-range just below a key pivot zone. Battlelines drawn on the short-term technical charts.

The EUR/JPY is our featured technical chart, for not only a technical breakdown is looking increasingly likely, but the macro back backdrop makes for a bearish fundamental backdrop. In short, the euro is undermined because of Europe’s persistent economic and political challenges, while a potential rate hike from the Bank of Japan magnifies the yen's appeal. Against this backdrop, our short-term EUR/JPY forecast is bearish.

Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities & stocks into the weekly / monthly open.

EUR/USD and AUD/USD are heading into their strongest month, hinting at rally potential after November drops.

Crude Oil Week Ahead: Crude oil faces volatility risks ahead of the OPEC meeting, now rescheduled for Wednesday to accommodate all members and avoid a clash with the Gulf Summit. Sideways price movements persist, leaning towards a bearish bias for 2025.

USDJPY Forecast: Friday's rise in Tokyo CPI from 1.8% to 2.2% drove USDJPY below the critical 150 level. A pivotal week of US economic data ahead, including ISM PMIs and Non-Farm Payrolls, is set to heighten volatility risks for the pair.

EURUSD, Nasdaq Forecast: Eurozone inflation data is in focus as EURUSD hovers near two-year lows. Meanwhile, irregular market volatility surrounding Thanksgiving, Christmas, and New Year is poised to dominate headlines, alongside key US economic data and Federal Reserve rate expectations in early December.