Technical Setup Points to Potential Upside from 100 Day MA

Central Bank

Economic

Summary:

The EURUSD pair has retreated from a high of 1.0430, encountering resistance at this level and sliding to 1.0330, this zone is noteworthy as it has previously served as a springboard for bullish momentum.

BUY EURUSD

Close Time

CLOSED

1.03471

Entry Price

1.04220

1.03100

1.04414 +0.00160 +0.15%

37.1

Pips

Loss

1.03100

Exit Price

1.03471

Entry Price

1.04220

The President of the Federal Reserve Bank of Atlanta, Raphael Bostic, emphasized the need for cautious monetary policy decisions during a statement on Tuesday. Highlighting the uneven progress in reducing inflation, Bostic noted that policymakers should lean toward maintaining higher interest rates to achieve the Fed's price stability goals.

"Given the irregularity in the metrics, our policy approach needs to be more cautious," Bostic said. "I want to ensure we’re getting the right signal and that our policy is calibrated to that signal. If we have to err, I’d rather err on the side of being too high." He added that maintaining higher rates for longer may be necessary to decisively bring inflation back to the 2% target.

In the U.S. manufacturing sector, economic activity remained in contraction during December, albeit at a slower pace. The ISM Manufacturing PMI improved to 49.3 from November’s 48.4, surpassing market expectations of 48.4. However, the survey revealed persistent challenges: the Employment Index dropped to 45.3 from 48.1, while the Prices Paid Index rose to 52.5 from 50.3, indicating mounting price pressures. The New Orders Index offered a more optimistic picture, climbing to 52.5 from 50.4.

Meanwhile, the ISM Services PMI results surprised to the upside, reflecting stronger-than-expected business activity and price increases in the services sector.

Key economic data is set to influence market sentiment in the upcoming sessions. Early Wednesday will bring German retail sales and EU Producer Price Index (PPI) inflation figures, with market forecasts predicting solid rebounds in both metrics.

In the U.S., traders are eyeing December's ADP Employment Change report and the Federal Reserve's meeting minutes. While ADP data is often viewed as an unreliable predictor for the Non-Farm Payrolls (NFP) report due Friday, any significant deviations from expectations could still provoke sharp market reactions.

Additionally, the U.S. Bureau of Labor Statistics reported an increase in job openings to 8.09 million as of November’s end, beating market expectations of 7.7 million. This marked an increase from October's revised figure of 7.83 million, reinforcing the perception of a robust labor market.

In Europe, the Harmonized Index of Consumer Prices (HICP) annualized inflation came in as expected at 2.4% year-over-year, up from 2.2%. Despite this rise, much of the inflationary pressure appears to have been factored into prior figures or attributed to temporary factors, offering some hope for continued improvement in Eurozone inflation dynamics. Technical Setup Points to Potential Upside from 100 Day MA_1

Technical Setup Points to Potential Upside from 100 Day MA_1

Technical Analysis

The EURUSD pair has retreated from a high of 1.0430, encountering resistance at this level and sliding to 1.0330. This zone is noteworthy as it has previously served as a springboard for bullish momentum. Adding to this, the RSI on the 1-hour chart has formed a divergence, dropping to a level of 33—near oversold territory—while the price itself has not reached comparably low levels as seen during the RSI’s previous dip.

The pair is currently hovering just above its 100-period moving average, a critical level widely monitored by traders. If this support holds, an upward move toward 1.0422 could materialize. However, a decisive break below the 100-period MA may pave the way for further declines, with 1.0300 as the next downside target.

Trading Recommendations

Trading direction: Buy

Entry price: 1.03450

Target price: 1.04220

Stop loss: 1.0300

Validity: Jan 17, 2025 15:00:00

Risk Warnings and Disclaimers

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Eva Chen

Stocks

Economic

Summary:

On Monday, the U.S. stock market retreated from its peak levels, yet the majority of individual stocks closed higher. The Dow Jones Industrial Average continues to build momentum below the neckline, with expectations of a rise back to resistance levels following the adjustment.

BUY US30

Close Time

CLOSED

42742.97

Entry Price

44400.00

41500.00

44121.97 +46.07 +0.10%

3935.0

Pips

Profit

41500.00

43136.47

Exit Price

42742.97

Entry Price

44400.00

Fundamentals

On Monday, the U.S. stock market exhibited strong performance, although there was a pullback during the trading session. Major indices significantly retreated from their intraday highs; however, the Nasdaq and S&P 500 indices continued to show gains.

By the market close, the Nasdaq rose by 243 points, an increase of 1.2%, reaching 19,864 points; the S&P 500 gained 32 points, up 0.6%, to 5,975 points. The Dow Jones Industrial Average fell by 25.57 points, a decline of 0.1%, settling at 42,706 points.

In the context of robust demand for AI servers, electronics manufacturing giant Foxconn reported record fourth-quarter earnings, contributing to Wall Street's early gains, which partially reflected the ongoing strength in tech stocks.

Foxconn serves as an assembly partner for AI leader Nvidia, whose stock rose by 3.4% on that day. Chip manufacturer Micron also saw significant gains, soaring by 10.5%.

Strong buying interest was also influenced by a report from The Washington Post indicating that President-elect Trump may scale back his tariff plans.

Previously, Trump had advocated for tariffs of up to 10% or 20% on all imported goods. However, The Washington Post reported that Trump's aides are currently exploring a tariff strategy that would apply only to "critical imported goods" from each country.

Nevertheless, as Trump dismissed the report as "fake news", purchasing interest gradually diminished throughout the trading session.

MARKET WATCH: The U.S. stock market experienced significant selling pressure at the end of December last year, compounded by a reduction in liquidity that intensified the impact of fund managers rebalancing their portfolios at year-end. However, several factors now indicate that both institutional and retail investors are poised to resume buying activity.

Following a substantial rise in the S&P 500 index, pension funds may have reallocated their portfolios to achieve a balance between equities and fixed income, while the decline in liquidity has heightened market volatility. Benefiting from the inflow of institutional capital and minimal selling from trend-following systematic funds, we are currently observing signs of a short-term tactical bullish trend.

Historically, January is the month with the highest inflows into equity ETFs and mutual funds, and hedge funds also tend to increase their overall leverage during this period.

Technical Analysis

Despite being constrained by the 100-day SMA, the Dow Jones Index continues to exhibit a bullish response. However, the lack of a significant surge following the rebound may indicate insufficient market momentum.

Given the clear upward trend remains intact, the Dow Jones Index is expected to rise to our target range of 44,400 - 44,500 points after a correction; however, this is contingent upon the price maintaining above the 41,681 level.

Trading Recommendations

Trading Direction: Buy

Entry Price: 42600

Target Price: 44400

Stop Loss: 41500

Valid until: January 22, 2025 23:55:00

Support: 42536, 42232, 41941

Resistance: 43173, 43464, 43851

Risk Warnings and Disclaimers

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Eva Chen

Stocks

Summary:

The Ethereum price closed above the US$3,600 level, indicating strong bullish momentum. Despite the recent increase in ETH prices, market sentiment remains weak.

SELL ETH-USDT

Close Time

CLOSED

3625.00

Entry Price

2973.00

3800.00

3312.36 +17.21 +0.52%

3089.8

Pips

Profit

2973.00

3316.02

Exit Price

3625.00

Entry Price

3800.00

Fundamentals

Since the beginning of this year, the cryptocurrency market has been on an upward trajectory. It experienced a 1.25% increase on the last day of last year, bringing the total gain since early January to 10%, with the current market capitalization at US$3.58 trillion. The market has recouped approximately two-thirds of its losses since peaking around US$3.80 trillion in mid-December. Interestingly, the market has not been dampened by expectations of tighter monetary policy from the Federal Reserve.

The Crypto Fear and Greed Index has returned to the extreme greed zone at 78. This figure is sufficiently high to indicate active buying interest, yet not overly exuberant.

According to data from CryptoQuant, Ethereum investors transferred over 80,000 Ether, valued at nearly US$300 million, from exchanges to private wallets last week, anticipating that the cryptocurrency market's performance in January will mirror that of the past two years. This move suggests a trend towards accumulation as investors fully re-enter the market this week.

Despite the accumulation of weighted sentiment around Ethereum's price, it remains in a downward trend, indicating that the majority of trading activity surrounding this leading altcoin appears somewhat bearish. According to data from the cryptocurrency analytics platform Santiment, Ethereum's price is likely to remain volatile in the coming days, as price movements often contrast with retail sentiment.

Additionally, the U.S. employment report released on Friday is a key market driver to watch, as Ethereum investors and the cryptocurrency market will encounter their first super data in 2025.

Buy Low and Sell High Amid Fluctuations_1

Technical Analysis

With Ethereum's price surpassing the resistance level of approximately US$3,550 last week, it has continued to rise this week, currently facing a critical resistance at US$3,760 in the 4H timeframe.

The Relative Strength Index and stochastics are above neutral levels, indicating a prevailing bullish momentum.

However, in alignment with Bitcoin's price, based on fundamental patterns and price models, bullish momentum will only gain traction if the bulls successfully break through the US$3,760 level. The stop-loss is very close, and it is recommended to go short at the highs.

Trading Recommendations

Trading Direction: Sell

Entry Price: 3670

Target Price: 2937

Stop Loss: 3800

Valid until: January 22, 2025 23:55:00

Support: 3553, 3473, 3421

Resistance: 3748, 3760, 3906

Risk Warnings and Disclaimers

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Eva Chen

Stocks

Economic

Summary:

The Bitcoin price has shown a strong performance at the start of this week, surpassing the US$100,000 threshold once again, with the current trading price at US$100,900. As Trump's inauguration approaches, the enthusiasm in the cryptocurrency market is rising once more.

SELL BTC-USDT

Close Time

CLOSED

100557.8

Entry Price

88546.0

104000.0

104990.0 +1035.8 +1.00%

7256.2

Pips

Profit

88546.0

93301.6

Exit Price

100557.8

Entry Price

104000.0

Fundamentals

On Monday, Bitcoin's price once again surpassed US$100,000, although the likelihood of a surge in volatility appears minimal. This marks Bitcoin's return to the US$100,000 threshold for the first time since December of last year. During the last attempt to rise on December 5, a spike in financing rates created significant supply pressure, further driving up Bitcoin's price. However, this time, financing rates remain stable, indicating that a similar spike in volatility is unlikely.

Based on our observations, the Bitcoin market currently lacks catalysts in the short term. The cryptocurrency market has previously been influenced by events related to Trump, including the price increase in December, which coincided with political developments surrounding him. Nevertheless, with Trump's inauguration scheduled for January 20, no significant market-moving events are expected to occur before that date.

Additionally, the front-end volatility remains neutral, indicating a cautious sentiment among investors, while the lack of significant price movements highlights the market's broad focus on external macroeconomic factors. With a scarcity of catalysts related to cryptocurrency, the final employment report for 2024 is drawing considerable attention this Friday. Furthermore, related reports are closely monitored, providing insights into the health of the U.S. economy. Robust labor market statistics may suggest ongoing economic resilience.

Lastly, the recent surge in Bitcoin prices has reinvigorated the community, although the likelihood of reaching new highs currently appears low. Following the aforementioned report and Trump's inauguration, the cryptocurrency market is expected to present a clearer outlook for upward momentum.

Bullish Momentum Remains Intact, But There Is a Lack of Favorable Conditions_1

Technical Analysis

After a strong performance on Monday, Bitcoin's price experienced a slight pullback on Tuesday, currently approaching the critical psychological level of US$100,000. If the price maintains above this level, it suggests that the current upward trend will continue, potentially retesting the historical high of US$108,353 reached on December 17, 2024.

The Relative Strength Index in the 1D timeframe is at 55, above the neutral value of 50, and trending upwards, indicating that bullish momentum is being sustained. Additionally, the MACD in the 1D timeframe showed a bullish crossover on Sunday, signaling a buy and continuing the upward trend.

However, based on fundamental patterns and price models, bullish momentum will only gain traction if the bulls successfully break through the US$103,666 level. The stop-loss is very close, and it is recommended to go short at the highs.

Trading Recommendations

Trading Direction: Sell

Entry Price: 101600

Target Price: 88546

Stop Loss: 104000

Valid until: January 22, 2025 23:55:00

Support: 99800, 98350, 96140

Resistance: 102009, 102768, 103666

Risk Warnings and Disclaimers

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Warren Takunda

Economic

Summary:

The USD/CAD pair is subdued, with the Canadian Dollar gaining strength following Prime Minister Trudeau's resignation announcement and news of potential retaliatory tariffs on US goods.

SELL USDCAD

Close Time

CLOSED

1.43000

Entry Price

1.42000

1.44000

1.43241 +0.00027 +0.02%

100.0

Pips

Loss

1.42000

1.44001

Exit Price

1.43000

Entry Price

1.44000

The USD/CAD pair is experiencing downward pressure as the Canadian Dollar gains momentum, bolstered by unexpected political developments in Canada. In the early European trading hours on Tuesday, the USD/CAD pair was seen hovering around the 1.4310 mark, marking a modest dip from previous levels. The Canadian Dollar is receiving support primarily due to the news surrounding Canadian Prime Minister Justin Trudeau's imminent resignation, which has stirred significant political discourse within the country. Trudeau, facing mounting pressure, revealed his intention to step down before a highly anticipated emergency meeting of Liberal legislators scheduled for Wednesday. The political uncertainty surrounding the leadership transition is proving to be a pivotal factor in the dynamics between the Canadian Dollar and the US Dollar.

Traders are also reacting to the possibility that Canada may accelerate the release of retaliatory tariffs on American goods. This move could be in response to the trade protectionist stance being taken by incoming US President Donald Trump. A report published by The Globe and Mail on Tuesday suggested that the Canadian federal government is weighing an early publication of a proposed list of US goods to be subjected to tariffs. This development, though still in the early stages, signals the growing tension between the two nations as they navigate a complicated trade relationship under Trump's leadership.

Despite the political developments, the Canadian Dollar's strength may be somewhat tempered by the current price action in crude oil markets. Canada, a major exporter of crude oil to the United States, is feeling the pressure of falling oil prices, which tend to weigh on the currency. West Texas Intermediate (WTI) crude oil prices have been on a decline for two consecutive sessions, trading at $72.90 per barrel at the time of writing. A weaker oil price is generally seen as negative for commodity-linked currencies like the CAD, as lower oil revenues can slow economic growth.

However, there may be some relief ahead for the Canadian Dollar, as the oil market is not entirely devoid of positive signals. OPEC, led by key member the United Arab Emirates (UAE), has made notable efforts to curb oil production in order to stabilize global oil prices. This initiative, which saw a reduction in oil production during December, may help stem the losses in oil prices and provide support for the CAD in the medium term. The market is likely to continue monitoring developments within OPEC as key players like the UAE work to balance supply and demand dynamics.

In the broader economic context, the markets are also gearing up for important data releases that could shape the outlook for both the Canadian Dollar and the US Dollar. On Tuesday, the Ivey Purchasing Managers Index (PMI) for Canada is scheduled for release, and traders will closely scrutinize this data for any signals of economic strength or weakness. Meanwhile, the US will also see the release of its ISM Services PMI later in the day, which will provide further insights into the health of the US services sector, one of the largest contributors to the nation's GDP.

Markets have been bolstered by recent US economic data, including the S&P Global US Services PMI Business Activity Index, which posted a robust reading of 56.8 for December, up from 56.1 in November. This marked the second consecutive month of growth in the index, reaching its highest level in 33 months. The S&P Global US Composite PMI Output Index also showed expansion, rising to 55.4 in December from 54.9 in November. These indicators suggest a pickup in business activity, pointing to the resilience of the US economy despite global uncertainties.

Despite these optimistic data points, the US Dollar is facing headwinds, particularly in light of President-elect Donald Trump's comments about his administration's stance on tariffs. Trump has reiterated his commitment to aggressive tariff policies, which has led to concerns about the potential impact on global trade and economic growth. He has also dismissed reports suggesting that his team is considering scaling back the scope of his tariffs, further intensifying market uncertainty.

Technical Analysis

From a technical standpoint, the USD/CAD pair remains under pressure, with recent price action suggesting a continuation of the bearish trend in the short term. The pair managed to break below the 1.4350 level and close the daily candlestick beneath it, reinforcing expectations of further downside momentum. The immediate target for the pair is the 1.4245 support level, followed by the 1.4200 region. Traders are likely to keep an eye on these levels, as a break below them could pave the way for a more pronounced decline.

However, a potential reversal cannot be ruled out. If the USD/CAD pair were to break back above the 1.4350 resistance level, this would indicate a shift in market sentiment, potentially leading to a recovery attempt toward recent highs around the 1.4467 mark. A sustained break above 1.4350 would signal a possible recovery for the US Dollar against the Canadian Dollar.

In terms of the expected trading range for the day, it is likely that the pair will fluctuate between support at 1.4250 and resistance at 1.4390. A bearish outlook remains in play, with traders positioning themselves for a continuation of the current downtrend unless there is a significant shift in fundamentals or a technical breakout above key resistance levels.

TRADE RECOMMENDATION

SELL USDCAD

ENTRY PRICE: 1.4300

STOP LOSS: 1.4400

TAKE PROFIT: 1.4200

Risk Warnings and Disclaimers

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Warren Takunda

Commodity

Summary:

Silver prices extended their winning streak on Tuesday, propelled by a weakening US Dollar and stronger demand from foreign buyers.

BUY XAGUSD

Close Time

CLOSED

30.210

Entry Price

31.200

29.210

30.819 -0.009 -0.03%

39.3

Pips

Profit

29.210

30.603

Exit Price

30.210

Entry Price

31.200

Silver prices are gaining traction as they extend their winning streak for the fourth consecutive day, with the price of silver (XAG/USD) hovering around $30.20 per troy ounce during European trading hours on Tuesday. The metal’s rally comes as a weaker US Dollar has made silver more accessible for buyers holding foreign currencies, thus stimulating demand. This trend is notable as silver, like other precious metals, typically benefits from a falling dollar due to its status as a hedge against currency weakness.

The US Dollar has faced significant headwinds in recent sessions, most notably following reports suggesting that the incoming Trump administration may take a more targeted approach in applying tariffs. This news has put pressure on the US Dollar Index (DXY), which tracks the USD’s performance against six major currencies. On Tuesday, the DXY dropped to near 108.00, marking a third straight session of declines. While some market participants expressed concern over the potential for reduced global trade tensions, the market remains in limbo, awaiting further developments regarding the new administration’s tariff policies.

In response to the report from The Washington Post, President-elect Donald Trump swiftly denied that his team was considering narrowing the scope of his tariff plan. Trump emphasized that his administration would not scale back its planned tariffs and that the overall strategy would remain in place. This has injected some optimism into the US Dollar, though it remains under pressure, with markets unsure of how this stance will impact global trade in the months ahead.

As the US Dollar faces uncertainties, silver has become a more attractive investment for international buyers. The drop in the value of the USD makes silver less expensive for those holding other currencies, thereby driving up demand. In particular, silver’s recent rally has been fuelled by both macroeconomic factors and technical market conditions, with the precious metal trading higher as investors seek safe-haven assets amidst concerns about economic stability.

Adding further support to silver prices, demand from China, the world’s largest consumer of the metal, has been buoyed by Beijing’s commitment to adopting “more proactive” macroeconomic policies. These policies, which include cutting interest rates in an effort to stimulate economic growth, have provided a positive backdrop for silver. As China’s economy continues to recover, its demand for commodities such as silver remains robust, supporting the price of the metal on global markets.

China’s move to lower interest rates is part of an ongoing effort to rejuvenate economic growth, which has slowed in recent months. By easing monetary policy, Beijing hopes to encourage borrowing and investment, which could drive demand for precious metals like silver, traditionally seen as a safe-haven asset during times of economic uncertainty. The country’s proactive stance is seen as crucial in bolstering investor confidence and ensuring that global growth remains on track, further enhancing silver’s appeal as an investment.

Technical Analysis

From a technical perspective, silver has been trending higher in recent days, with the price recently surpassing the $29.63 level. The metal’s ability to hold above this key support level is critical for maintaining the bullish momentum. If silver continues to build on this strength, it could test the $31.20 mark in the short term. The overall sentiment remains positive for the metal, with a strong bullish bias for the near term.

However, should silver break below the $29.63 level, the outlook would turn more bearish. A move beneath this level could trigger a reversal, potentially leading to further losses as the formation of a head and shoulders pattern on the chart suggests the possibility of downside risks. If this scenario plays out, silver could face a decline towards the $28.40 level, signaling a shift in market sentiment.

In the near term, silver’s trading range is expected to be between $29.65 as support and $30.60 as resistance. A breakout above $30.60 could pave the way for further gains, while a break below $29.65 would likely signal the start of a bearish correction.

TRADE RECOMMENDATION

BUY SILVER

ENTRY PRICE: 30.210

STOP LOSS: 29.210

TAKE PROFIT: 31.20

Risk Warnings and Disclaimers

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Warren Takunda

Economic

Summary:

AUD/USD is showing strength as the US Dollar weakens amid geopolitical uncertainty and weaker tariff news.

BUY AUDUSD

Close Time

CLOSED

0.62800

Entry Price

0.64400

0.61800

0.62848 +0.00127 +0.20%

100.0

Pips

Loss

0.61800

0.61798

Exit Price

0.62800

Entry Price

0.64400

The Australian Dollar (AUD) has shown resilience in recent trading, gaining for the fourth consecutive day as the currency pair AUD/USD attracts fresh buying interest. This momentum comes amid a modest pullback in the US Dollar (USD), which has been under pressure from various factors. While technical indicators point to a potential extension of the rally, fundamental factors such as US-China trade tensions, the Federal Reserve's outlook on interest rates, and the Reserve Bank of Australia's (RBA) dovish stance suggest that further upside for the Aussie could face significant limitations.

At the time of writing, AUD/USD is trading near 0.6285, recovering from the previous day’s dip, which saw prices briefly retreat from the 0.6300 mark, a level not seen since mid-December. This modest rebound follows the pair’s earlier surge, which took it to a two-week high. The positive traction observed in the first half of the European session on Tuesday seems to be mainly driven by a slight pullback in the USD, providing the necessary support for AUD/USD to build on recent gains.

The primary factor contributing to the recent strength in AUD/USD is a temporary weakening in the US Dollar. The USD Index (DXY), which measures the Greenback against a basket of its major peers, is currently languishing near its one-week low, which was touched on Monday. The uncertainty surrounding US President-elect Donald Trump’s tariff plans has added to the ongoing volatility. According to a report by The Washington Post, Trump’s aides were reportedly mulling tariffs specifically targeting sectors deemed critical to US national or economic security. However, Trump later refuted the report, posting a denial on his Truth Social platform. This contradiction surrounding US trade policy is weighing on the USD and has temporarily given a tailwind to riskier currencies like the Australian Dollar.

Despite this, the outlook for the USD remains relatively positive over the longer term, given the Federal Reserve’s hawkish stance at its December meeting. The Fed signaled that it would slow the pace of rate cuts in 2025, which underpins the appeal of the US Dollar in the context of rising US Treasury bond yields. The elevated yields provide a robust support level for the USD, particularly against lower-yielding counterparts like the Australian Dollar.

Despite the short-term tailwinds for AUD/USD, caution is warranted as several factors could cap the upside for the Australian Dollar. In particular, the ongoing geopolitical tensions surrounding US-China trade relations could exert downward pressure on the AUD. The potential for a renewed US-China trade war, which would negatively affect global trade, remains a significant risk to the Australian economy, given its reliance on exports, particularly to China. A surge in trade protectionism could dampen the economic outlook for Australia and weigh on the AUD.

Furthermore, the dovish policy stance of the Reserve Bank of Australia (RBA) continues to limit the Australian Dollar’s upside potential. While the RBA has signaled that it may pause interest rate hikes, its accommodative policy approach remains a stark contrast to the hawkish stance of the Federal Reserve. As long as the RBA’s policy remains dovish, the Australian Dollar will likely struggle to gain significant ground against the US Dollar in the longer term.

Looking ahead, traders are awaiting key economic data and central bank events that could shape the next leg for AUD/USD. This week’s US economic docket includes the release of the ISM Services PMI and JOLTS Job Openings data, which could provide further insights into the strength of the US economy and its potential impact on future Federal Reserve policy. Additionally, the release of the US Nonfarm Payrolls (NFP) report later this week will be closely watched for signs of continued labor market strength, which would reinforce expectations for elevated US interest rates and bolster the Greenback.

Another major event on the horizon is the publication of the minutes from the Federal Open Market Committee (FOMC) meeting, which will offer further clarity on the Fed’s policy outlook. If the minutes suggest that the Fed is inclined to slow the pace of rate cuts in 2025, this could provide additional support for the USD and limit the upside for AUD/USD.

Technical Analysis

From a technical perspective, the AUD/USD pair appears to be in the midst of a solid intraday uptrend, supported by stochastic indicators that suggest positive momentum. After recovering from the recent pullback, the price is once again approaching key resistance levels near the 0.6300 region. If the bullish trend continues, the next significant resistance target lies at the 0.6440 mark, which is the upper boundary of the bearish channel that has contained price action for some time.

However, the upward move remains vulnerable to a shift in market sentiment or any signs of strengthening US economic data, which could push the USD higher. A break below the 0.6230 support level would indicate a failure to sustain the bullish momentum, potentially leading to a resumption of the broader bearish trend within the established channel.

The expected trading range for today is between 0.6210 and 0.6310, with a continued bias towards bullish movement, unless technical or fundamental factors dictate otherwise. A break above 0.6310 could signal further upside potential, while a failure to maintain support above 0.6230 could prompt a pullback.

TRADE RECOMMENDATION

BUY AUDUSD

ENTRY PRICE: 0.6280

STOP LOSS: 0.6180

TAKE PROFIT: 0.6440

Risk Warnings and Disclaimers

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Technical Setup Points to Potential Upside from 100 Day MA

Technical Analysis

Uptrend Remains Intact

Fundamentals

Technical Analysis

Trading Recommendations

Buy Low and Sell High Amid Fluctuations

Fundamentals

Technical Analysis

Trading Recommendations

Bullish Momentum Remains Intact, But There Is a Lack of Favorable Conditions

Fundamentals

Technical Analysis

Trading Recommendations

USD/CAD Depreciates Amid Support for Canadian Dollar Following Trudeau’s Resignation Announcement

Technical Analysis

Silver Prices Surge as Weaker US Dollar Boosts Demand and Economic Policies in China Spur Growth

TRADE RECOMMENDATION

AUD/USD Bulls Eye Continued Upside Amid Modest USD Weakness and Economic Uncertainty

Risk Disclosure