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US Dollar Short-term Outlook: USD Bulls Eye Resistance Ahead of NFP
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.
Gold Forecast: XAU/USD faces key test from US data
After falling a big 3% last Monday, gold has been trading in tight ranges since, holding mostly within that day’s range. In other words, it hasn’t fallen any further, although it has also made little upside progress.
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EUR/AUD turns higher, ASX 200 falters on sluggish Australian growth
Today's growth figures are unlikely to force the RBA into any easing action, but it has been enough to weigh on the Australian dollar and ASX 200. And this could allow EUR/AUD to continue higher after a 4-day retracement.
USD/JPY selloff loses steam around support, bounce incoming?
Having fallen over 5% from the November high already, the two days of indecision around support alongside a bullish divergence suggest USD/JPY could be vulnerable to some bullish mean reversion.
GBP/USD Recovery Vulnerable as Bear Flag Formation Takes Shape
GBP/USD may stage additional attempts to test the May low (1.2446) as a bear-flag formation appears to be taking shape.
Australian Dollar Short-term Outlook: AUD/USD Coils into Support
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.
US Dollar Price Action Setups: EUR/USD, USD/JPY
The US Dollar finally pulled back from its aggressive Q4 breakout move, and this was fueled by the strongest weekly outing in EUR/USD in two years with last week’s bounce.
USD/CHF Pullback Faces Positive Slope in 50-Day SMA
USD/CHF may defend the rally following the US election should it track the positive slope in the 50-Day SMA (0.8692).
Euro Short-term Outlook: EUR/USD Threatens Bear Market Rebound
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.
EUR/JPY forecast: Technical Tuesday – December 3, 2024
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.
USD/NOK, NOK/JPY: Rate differentials and sentiment skew directional risks
Risk sentiment and rate differentials are dictating directional risks for USD/NOK and NOK/JPY. With weakening ties to US rates and oil, and carry trade flows dominating NOK/JPY, we look at setups as we head toward year-end.
The US dollar, seasonality and what that could mean for December
While it is well documented that the USD tends to suffer in December, the dynamics of Trump at the helm alongside another important FOMC meeting could give seasonality a run for its money. But regardless of which way the dollar travels this month, there is a clear intra-month pattern that is worth factoring in to the equation.
AUD/JPY, AUD/USD drop like a tonne of BRICS
I thought we might make it a bit closer to 2025 before the selloff an anticipated selloff on AUD/JPY unfolded. But we're reminded that Trump can make or break sentiment on a whim with his eye now on BRICS countries, which saw AUD/USD fall alongside the FX barometer of risk on Monday.
USD/CAD Defends Post-US Election Rally to Eye November High
USD/CAD may test the November high (1.4178) as it appears to be defending the rally following the US election.