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FTSE and crude oil analysis: Will rebound in oil finally lift UK index?
Can rebounding oil prices fuel rally in energy stocks like BP and Shell? FTSE technical analysis hints at potential recovery for UK index. Meanwhile, Brent crude oil rises above 200-day average ahead of OPEC meeting.
FTSE analysis: Time for UK to join global rally?
The ongoing stock market rally continues. With the US Thanksgiving holiday keeping trading on the quieter side today, the European markets edged higher. The DAX has now completely made back the entire losses it suffered between September and October. Other mainland European indices have similarly made strong gains, along with Wall Street. But frustratingly for the UK market, the FTSE has not shown much desire to go higher.
GBP/USD, FTSE 100 Forecast: Two trades to watch
GBP/USD slips ahead of the Autumn statement. FTSE rises with the Autumn Statement due, Sage outperforms
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EUR/USD looks set to mean revert, Nasdaq to rally into Thanksgiving? European open
Has the rally on EUR/USD gone too far, too soon? Whilst it shows the potential for further gains, a pullback would not come as too much of a surprise. And with the Nasdaq rising ~80% of the Wednesday's ahead of Thanksgiving, we feel inclined to seek intraday bullish setups today.
USD/JPY bears eye 150, DAX squares up to its 200-day MA: European open
Whilst the 200-day MA stands in the way of further DAX gains, I suspect a move to 16k could still be on the cards. USD/JPY could also test 150 as part of its next leg lower, if incoming US data disappoints.
EUR/USD meanders around 1.06 ahead of key events: European open – 31/10/2023
EUR/USD has pulled back against Monday’s moves, but has the potential to extend yesterday’s rally should inflation data from across Europe come in hot enough today. We also have the FOMC meeting looming which has seen implied volatility rise for the pair.
EUR/USD hints at 1.07 swing high, USD/CAD steady pre BOC: European open
A 2-bar reversal on EUR/USD suggests it may have seen the completion of a 3-wave correction. If so, it also assumes a break to new cycle lows. Elsewhere, USD/CAD is sitting pretty just off its cycle highs ahead of today's BOC meeting, where a dovish hold might help it make a break for 1.38.
FTSE 100, DAX Analysis: European Indices Limp to a Losing Week
The FTSE and DAX both fell after relatively weak economic data drove fears of a recession, while the ongoing conflict between Israel and Hamas hurt risk appetite across the board...
EUR/USD probes resistance ahead of CPI, Fed speakers: European open – 18/10/2023
EUR/USD followed our near-term bullish bias to a key resistance zone ahead of today's eurozone inflation report. And we also have several Fed members set to speak which could dictate which side of resistance the euro closes the day on.
GBP/USD, gold to withhold dollar strength? European open – 17/10/2023
UK wages and employment data is released shortly, which could set the tone for tomorrow's inflation report (which in turn could effectively decide the BOE's next interest rate decision). And that puts GBP/USD very much in focus, with US retail sales and several Fed members also on today's calendar. Gold is holding on to much of last week's gains, but we're looking for dips towards 1900 to increase the potential reward to risk ratio for bulls.
EUR/USD, FTSE 100 analysis: European open – 16/10/2023
Monday trade in Asia saw mild signs of mean reversion against some of last week's large moves, which should not be confused with 'risk-on' with sentiment remaining fragile around the Middle East conflict. Beyond these potentially false moves, we're looking for potential short setups on the FTSE 100 and EUR/USD.
EUR/USD, WTI crude oil tread water ahead of NFP: European open – 06/09/2023
It has been an action-packed week for markets, which has meant that price action ahead of today’s nonfarm payroll report has been quieter than usual. But that doesn't mean it will stay quiet heading into the weekend. Today we look at key levels on the intraday charts of EUR/USD and WTI crude oil.
EUR/USD looks at 1.04, DAX considers break of 15k: European open – 04/10/2023
EUR/USD and DAX edged their way to new lows during trade, although the lack of market volatility leaves it up in the air as to whether prices may try to bounce today, or simple extend their losses. Key levels await for both markets, regardless.
EUR/USD, FTSE 100 analysis: European open – 26/09/2023
EUR/USD touched a fresh 6-month low and closed beneath the 1.06 handle. Whilst it could be argued it is oversold, we're yet to see any clear evidence of a market bottom. The FTSE 100 also looks set to move lower after repeatedly failing to close above the July high before momentum turned lower yesterday.
FTSE 100, EUR/USD Forecast: Two Trades to Watch
FTSE 100 falls post Fed & ahead of the BoE rate decision. EUR/USD tests 1.0630 after the Fed’s hawkish skip.
GBP/USD holds 1.25 ahead of key wages data, ZEW in focus: European open
GBP/USD looks like it is trying to carve out a swing low ahead of today's employment and wages report, whilst the FTSE 100 has rallied into a key area of resistance.
Gold is trapped between key levels: European open – 11/09/2023
Gold has managed to find support at its 20-day average, yet the 50 and 100-day EMAs are capping its upside potential ahead of Wednesday's US inflation report, which means we'd prefer to seek near-term opportunities on an intraday timeframe.
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EUR/USD, FTSE Forecast: Two Trades to Watch
EUR/USD falls ahead of eurozone PMI data. FTSE trades under pressure after weak China data fuels risk off trade.
EUR/USD, USD/JPY Analysis: European open – 7th August 2023
It seems the low I was pondering on Friday for EUR/USD ahead of the NFP report has come to fruition, so the bias is to seek bullish setups on lower timeframes. And whilst USD/JPY has managed to recoup around half of Friday’s losses, we’re monitoring its potential for a swing high around a nearby resistance zone.
GBP/USD implied vol spikes ahead of BOE, WTI bears trapped? European open
1-day implied volatility for GBP/USD is above its 20-day average ahead of today’s BOE meeting, which suggests a 66% chance of a 120 pip move in either direction (with the BOE’s rate decision likely to direct that direction). WTI’s delta volume (bid vol – ask vol) is extremely negative to show lots of bears entered around the cycle low. And of prices do not roll over quickly, they may be forced to cover (and help extend a rally they may be fleeing from).
GBP/USD and EUR/USD in focus for UK and euro CPI reports
Inflation reports for the UK and eurozone put GBP/USD and EUR/USD firmly onto trader's radars, although options markets suggest the UK report is the more important of the two.
USD/JPY and USD/CAD continue to slide ahead of US CPI and BOC meeting
USD/JPY is trying to notch up its fifth daily decline (which would be its first this year) whilst USD/CAD also falls on bets of weak US inflation and a BOC hike today.