Technical Analysis

Fundamental Overview We got some very good news last week as both the CPI and PPI came in on the softer side. This should support the stock market in the bigger picture as it will give the Fed more confidence to start cutting rates at some point in the last part of the year. The

The AUDUSD sellers made a play to the get outside of a swing area on the downside at 0.6575. The low price reached 0.6584. that low was also just above the 38.2% retracement of the move up from April at 0.6579. Buyers leaned against the low area. The price has rebounded higher over the last

Fundamental Overview The USD last week lost ground across the board following the soft US CPI report as the market priced back in two rate cuts by the end of the year. The moves were reversed soon after though as we got a bit more hawkish than expected FOMC decision where the dot plot showed

The USDCHF rebounded earlier this week in the process extended above the 38.2% retracement of the move down from the May high to the June low. The level came in at 0.8986. However, momentum cannot be sustained in the price started rotation to the downside helped by the weaker CPI on Wednesday. The low for

Russell 2000 daily This is what regime change in the stock market looks like. On Wednesday, the Russell 2000 surged on a soft CPI report and it bumped higher yesterday on PPI. But here we are at the lows of the week and at a six-week low, as it reversed a 2% gain. For 18

The AUDUSD started the week testing the low of a swing area (going back to early May) near 0.6579 and also the 38.2% retracement of the move up from the April 2024 low to the May high near the same level. Sellers pushed the price below that level early on Monday of this week, but

The USDJPY corrected higher since the start of the US session, and ran into resistance above between 157.40 and 157.464. Buyers turned to sellers against the level. Going forward, that swing area will be close resistance not only today but in the new trading week. If broken, traders would look toward the May 29 high

Apple broke higher this week on the back of the new AII news for the company (and its products announced ar the World Wide Developers Confeence. Fundamentally, the hope is the new AI initiatives will stir a new round of product upgrades for its user base. That is something new vs what has been ho-hum

Fundamental Overview The USD was sold across the board on Wednesday following the soft US CPI report. The data made the market to price back in two cuts for this year. Later in the day though we got a bit more hawkish than expected FOMC decision where the dot plot showed that the Fed sees

Admittedly, the USDCHF is non-trending with up-and-down price action today. There was an extreme reached after the US PPI and claims data with the price extending to a session low of 0.89318. However, momentum could not be sustained and the price moved higher. The move higher did stay below its rising 100-hour moving average at

Fundamental Overview The USD yesterday was sold across the board following the soft US CPI report. The data made the market to price back in two cuts for this year. Later in the day though we got a bit more hawkish than expected FOMC decision where the dot plot showed that the Fed sees just

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Fundamental Overview The USD has been stronger since last Friday following the US NFP report where the data surprised with solid jobs and wage growth. There were also negatives like the uptick in the unemployment rate, but all in all, we can say that it was a good report. The data triggered a hawkish repricing

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Fundamental Overview Gold had a really bad Friday last week as it suffered one of its worst days in several months. The reason for the selloff was due to two strong catalysts. The first one hit in the European session when we got the headline that China halted its reserve buying. This has been the

Fundamental Overview The USD has been on the backfoot since the beat in the US ISM Services PMI where the data showed that the last month drop was just a blip and overall we have a resilient economy with lower inflationary pressures. The data continues to reinforce the narrative that the next move is more