Currency

With US treasury yields starting to turn lower, just as the S&P500 hesitates at critical highs, we take a look at the bigger picture to see if sentiment could be about to turn for the worst. Since topping out in late November, the decline invalidated the September ’18 trendline and confirmed a primary trend reversal […]

Although the trend points lower, mean reversion appears likely over the near-term according to some indications. Z-score, consecutive days and lower Keltner-band test suggest mean-reversion Potential for a rebound towards 1.0370 before heading lower Trend remains bearish below 1.0490   Granted, AUD/NZD may not be a go-to currency choice for some, yet its bearish trend […]

The highs around 2,800 were always going to be closely watched levels. But we’d noted a couple of times over the past two weeks that the area could trigger a correction, given the rally from the 2018 lows had lacked any real mean reversion. With a clear bearish engulfing candle having now formed, we the […]

A summary of the weekly Commitment of Traders Report (COTS) from CFTC to show market positioning. Among FX majors, JPY saw the largest weekly change as bears increased their net short exposure by 11.7k contracts. Volume changes were fairly-light elsewhere for FX majors (all below 10k). 84% of large speculators are long on DXY (US […]

ETHUSD Long-term Trend – Ranging   • Distribution territories: $180, $200, $220 • Accumulation territories: $100, $80, $60   Ethereum’s price is seeing various ups and downs, as it has been doing in the last few weeks. The cryptocurrency is trading between the $140 and $120 zones. On March 5, it managed to move up […]

EUR/USD is licking its wounds near its 21-month low ahead of today’s NFP report, and were closely watching today’s close at it could be the difference between a breakout or a fakeout. City Index: Spread Betting, CFD and Forex Trading on 12,000+ global markets including Indices, Shares, Forex and Bitcoin.Click here to find out more..

Since breaking higher, Copper is forming a potential continuation flag above support whilst Antofagasta is trying to take the lead. So, we’re keeping a close eye on these two markets to see if either extends their rally. City Index: Spread Betting, CFD and Forex Trading on 12,000+ global markets including Indices, Shares, Forex and Bitcoin.Click […]

XRPUSD Medium-term Trend: Bearish   • Resistance Levels: $0.56, $0.58, $ 0.60 • Support Levels: $0.30, $0.28, $0.26   XRP’s price has been range-bound between the $0.28 and $0.34 levels. On January 10, the bears broke the support on the lower end, and today the support has turned into a resistance, unbroken since January 10. […]

Gold’s decline since its multi-month high has not gone unnoticed, yet there are indications that mean reversion could soon be on the horizon. Since August’s low, gold had gained increasingly bullish attention which saw it trade nicely within a tight bullish channel. That is, of course, until a bearish pinbar marked its high before rolling […]

The Australian dollar took a tumble across the board after today’s GDP miss. Coming in a 2.3% YoY versus 2.5% expected, it takes the 2018 average down to 2.9% and below RBA’s estimate of 3%. AUD sold off mostly against JPY, USD and EUR to see AUD/JPY as today’s biggest mover with an intraday loss […]