Technical Analysis

EURUSD Outlook: The EURUSD chart managed to extend a wick beyond its yearly consolidation before dropping back to the 1.09 zone, while the US Dollar index (DXY) maintained its trend within the borders of its consolidation. Is a reversal on the horizon?

The technical bias in USD/JPY will remain to the upside as long as it remains above the 146.00 level.

Watch for an NDX close either above the 18,400 level (which could come as soon as today) or a close below the 200-day MA near 17,800 to tip the odds in one direction or another.

Crude Oil Outlook: Oil prices retested the 2024 starting point as markets dropped. Aligning with the market’s latest rebound, is another positive track sustainable?

Gold has yet to set a “lower low” since early June, keeping the near-term bullish momentum intact for now.

USDJPY Forecast: The USDJPY erased its 2024 gains and is poised to retest a key support level respected in December 2023.

Traders now fear that the Fed is “behind the curve” and risks tipping the US economy into recession – bad (economic) news is once again bad news (for Bitcoin and other risk assets).

August has historically been the weakest month for GBP/USD and AUD/USD - see what other past tendencies we can glean about forex seasonality in the upcoming month!

Crude Oil Forecast: Oil is dropping further into its consolidation, following the steep drops of the commodities market

While Bitcoin's near-term momentum clearly favors the bulls after a big rally last week, the next leg of this bullish cycle won’t start in earnest until we see a confirmed breakout above the record highs in the $74K zone

GBPUSD Forecast: The GBP/USD pair failed to sustain a close above the 1.3030 level. Current trends show bearish dominance, yet upcoming events next week will be crucial in determining whether the pair will continue its uptrend or face further declines.

The Nasdaq 100 is in a precarious technical position after breaking below a near-term bullish trend line and slipping below the 20K level ahead of Magnificent Seven earnings.

Crude Oil Forecast: Following bearish sentiment driven by weaker-than-expected Chinese economic growth, a drop in the US Dollar, the Houthi attack on an oil tanker in the Red Sea, and a decline in crude inventories, oil prices have rebounded above the $82 mark.

USDJPY Forecast: With the market fully pricing in a Fed rate cut starting in September, along with increasing speculations over a BOJ rate hike at the end of July, the USD/JPY is experiencing a sharp decline.

Crude Oil Analysis: With the Dollar’s stability and the correction of Chinese economic growth figures, oil is sliding below critical support zones.

GBP/USD could pull back off 1-year highs at 1.3000 given the 17-year high in speculative long positioning, per the CFTC’s COT report.

GBPUSD Forecast: the GBPUSD’s uptrend is facing challenges this week. The US dollar, driven by political challenges and rate cut expectations, along with upcoming UK economic indicators, might add pressure on the pair. Is there a correction ahead?