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USD/CAD reaches a critical inflexion point ahead of US jobs data USD/CAD has continued to move lower over the past several weeks, reflecting further strength in the Canadian dollar. The pair is now at a point where it could either extend its decline, signalling further Canadian dollar strength, or find support and reverse course. USD/CAD rallied substantially between mid-September and mid-October. It has since pulled back to the 61.8% Fibonacci retracement of that rally, an area that has provided firm support since around 23 October. With potentially import

Gold breaks support at $4,000 and may be oversold Gold prices have fallen through support at $4,000, an important level that had held firm since late October 2025. The break below support could be a critical development for gold's future direction, suggesting the precious metal may have further downside ahead. However, gold may be due for a rebound before another leg lower begins. The price of gold has fallen below the lower end of its Bollinger Band, while the relative strength index (RSI) has dipped below 30. In the past, as noted previously

EUR/USD's next move hinges on central bank policy EUR/USD has been falling and appears to have broken through support ahead of the Federal Reserve (Fed) and European Central Bank (ECB) interest rate announcements. Neither central bank is expected to raise rates at its October meeting. However, the Fed is expected to raise rates at its next meeting in December, while the market is less certain about the ECB. How the two central banks signal future rate increases, and how far they may need to go, could matter most. For now, expectations have pus

Silver breaks July lows as US dollar breaks out Silver prices have fallen below the lows established in July, around $54.70, breaking that level on Friday 23 October. The price, which had acted as support for several months, could now become a major level of technical resistance. Silver could continue trending lower towards a range between $47 and $49.50. The metal has been in a downtrend since peaking in late August near $70. The relative strength index (RSI) continues to trend lower. However, it remains above 30, suggesting that, despite t

USD/JPY consolidation may be nearing its end USD/JPY has been consolidating for some time, remaining below ¥159. However, Japan's consumer price index (CPI) report on 23 October and the Bank of Japan's interest-rate decision on 30 October could bring the sideways trading phase to an end. Japan's headline and core CPI are both expected to rise to 2.1% year on year, from 1.9% and 1.7%, respectively. The release comes just one week before the Bank of Japan's policy announcement. Markets are not pricing in a rate hike at this meeting, but a h

USD/CAD may rebound after cooler Canadian CPI report USD/CAD has risen substantially since early September but has stalled near C$1.43 since mid-October. The advance forms part of a broader uptrend that began in November 2025. More recently, the pair has pulled back as the Canadian dollar has strengthened against the US dollar. Falling US interest rates following last week's strong US CPI report have accompanied the move. For now, the decline appears to be a retracement within the broader uptrend. USD/CAD has fallen towards the 38.2% Fibonacci r

Silver prices plunge after hot US CPI report Silver prices are falling after September's US consumer price index (CPI) report, released on 14 October, showed a much stronger-than-expected reading for core inflation. The sell-off has pushed silver below short-term technical support around $58.50 and closer to the next major support area near $56.50. A break below that level could open the way for a decline towards $50. The relative strength index (RSI) is clearly trending lower but has not yet reached oversold territory, suggesting that th

Brent oil nears another breakout attempt Brent crude was close to breaking down just a few weeks ago but held key technical support levels, preserving the uptrend that began in early July. Prices are now moving higher again and nearing a technical resistance region that, if broken, could send them towards $120 a barrel. Brent prices are also supported by a rising relative strength index (RSI), indicating bullish momentum. At 62, the RSI remains below the conventional overbought threshold of 70, and its sustained upward trend reinforce

Silver’s problems may be about to grow much worse Silver prices have been trading sideways, but with the US dollar strengthening and Treasury yields continuing to trend higher, silver may find that its recent struggles are about to worsen. The metal has been sitting just above a support region between $57 and $60 but is drawing closer to breaking the upper end of that range and heading towards the lower $50s. A drop below $60 would put silver in a position to fall towards $57. It may not take much for that to happen either. With the relative s

The euro reaches a potential turning point versus the dollar EUR/USD has broken through support at $1.135 and is now reaching oversold conditions, with a relative strength index below 30 and the exchange rate trading at its lower Bollinger Band. This does not mean the decline in EUR/USD is over, but it may mean the euro’s sell-off against the dollar is due for a pause. If EUR/USD reverses, the recovery may be short-lived, with strong overhead resistance near the 10-day exponential moving average and around $1.135, which has shifted from a major support l

USD/CAD may be ready to surge even higher USD/CAD is moving higher towards resistance near $1.42 and could consolidate or pull back in the near term, having reached overbought levels, before potentially making another move back towards the highs seen in 2024. The last time USD/CAD reached the $1.42 region, in June, it stalled and declined back to a support area around $1.375. A rising USD/CAD rate means the US dollar is gaining against the Canadian dollar. Resistance around $1.42 has been strong since before 2025, when this area played

Gold loses critical support as real yields surge Gold prices are falling, breaking through support around $4,250. This opens a path for gold to potentially fall towards $4,000. Gold has come under pressure as nominal interest rates rise and real yields move higher alongside them. The US dollar index has also continued to push higher and is showing bullish momentum. A stronger US dollar and higher rates are likely to remain major headwinds for gold if this trend continues. Gold has had an inverse correlation with the US 10-year Treasury real y

Brent oil prices reach an inflexion point Brent crude has fallen back to its 20-day moving average and entered a critical support region needed to maintain the bullish trend established a few weeks ago. Oil prices now risk dropping back into the mid-$80s if Brent loses support at $100 a barrel. Brent reached overbought conditions on 10 September, when oil rose to around $110 a barrel, broke above its upper Bollinger Band and saw its relative strength index rise above 70. Prices then consolidated for a few days before dropping sharply.

EUR/USD reaches a critical region of support EUR/USD has fallen in recent days following an FOMC meeting that came across as more hawkish than expected. This has sent the pair back to an FX rate not seen since July and now leaves it vulnerable to further declines. EUR/USD is currently sitting on support around $1.146. The area now serving as support formed in June and turned into resistance in July. That makes this region important. Once EUR/USD rose above it in July, it rallied to around $1.16 and eventually moved to highs near $1.17. S

NASDAQ 100 at Key Support as Fed Rate Decision Looms Ahead of the FOMC’s interest rate decision, the NASDAQ 100 is in a vulnerable position, trading near a key technical support level that could be tested by the Fed’s communication, or lack thereof. If the Fed raises rates as the market expects and signals a more hawkish path, the NASDAQ 100 could fall below support at around 28,950, potentially retreating to its July lows. The chart also shows what appears to be a descending triangle, a bearish pattern that, with follow-through, could see the NA

Brent oil prices may be heading much higher Brent crude prices have surged above $100 a barrel in recent days, following a breakout from a symmetrical triangle pattern at the end of August. A projection based on this breakout suggests that Brent could rise above $120 a barrel over the medium to longer term. For now, prices are rising steadily and could climb significantly higher if they hold above resistance around $101 a barrel. A breakout above this level could pave the way for a move towards $113 a barrel, the next area of resistance

USD/JPY reaches inflexion point as critical support breaks USD/JPY has fallen below technical support at ¥155 as markets increase bets on a Bank of Japan rate hike at the upcoming monetary policy meeting on 18 September. Markets are currently pricing in two rate hikes by January 2027, which would take the overnight interest rate to 1.5%. This is the first time USD/JPY has traded below ¥155 since February 2026, despite multiple attempts to break support since then. A close below ¥155, with follow-through, could suggest that USD/JPY has further to declin

Silver’s rebound fades as downside risks grow Silver prices have fallen sharply, giving back much of their recent gains after failing to push through resistance near $71. Silver now finds itself close to a support region around $63 to $64. A break below that area could be a problem for the metal and may result in prices declining further, perhaps back towards the mid-$50s. Silver recently broke an uptrend on the price chart on 31 August, with that trend having been established at the end of July. In addition, the relative strength index ha

Brent oil may be positioned to surge above $100 Conditions in the Middle East remain volatile, and Brent crude oil now appears poised to move sharply higher after a period of consolidation. Brent already broke out of a bull flag pattern in mid-August and has been trending higher. It now appears to have formed a symmetrical triangle, which in this case could act as a bullish continuation pattern. The pattern has been formed by a series of higher lows and lower highs. Currently, a move above $95.50 would be enough for Brent to clear the downtr

USD/CAD could be ready to rebound USD/CAD may be set to rise after reaching oversold conditions, while the US-Canada trade dispute has started to heat up again. The US dollar has weakened against the Canadian dollar since the beginning of July, but with USD/CAD now trading below its lower Bollinger Band and the relative strength index below 30, the pair appears due for a potential rebound. A rise in USD/CAD would mean the US dollar is gaining strength against the Canadian dollar. The first test for the pair is likely to be the

The EUR/USD may be close to breaking out EUR/USD is approaching a key resistance zone that could extend its recent rally if the pair manages to break higher. The exchange rate is currently trading above its 200-day moving average, which could prove significant and may point to further euro strength if EUR/USD clears resistance around $1.1660. A confirmed breakout could open the way for a move towards the $1.1790 to $1.1820 range. However, EUR/USD is also approaching overbought territory, suggesting that the rally could pause before

USD/JPY tests critical support after latest intervention USD/JPY has seen another round of intervention, pushing the pair down to $156.70 after climbing to nearly $164. The latest move has pushed the exchange rate back to a familiar area around $155. That was the level last tested, but not broken, during the previous round of intervention in April, and that remains the case after the latest intervention. The $155 level was tested several times during the spring and held firm. It was one reason the previous round of intervention failed to generate me

Silver's next big move may be lower Silver prices have continued to trade sideways over the past several weeks. At this point, we are also seeing implied volatility, as measured by the CBOE Silver ETF Volatility Index (VXSLV), begin to decline again. This is likely because realised volatility, measured over the past 21 days, has also fallen. This suggests that silver's implied volatility is likely to continue to decline. Silver prices have largely risen alongside implied volatility, reflecting increased risk-taking and specula

Gold faces critical breakout test Gold has been in a downtrend since peaking in early March, testing the trendline several times in mid-May and early June but failing to produce a breakout. It is now approaching the trendline again, with resistance around $4,130. A breakout above $4,130 would be a positive development and could pave the way for a move back towards $4,400. Moving averages leave more to prove Gold is still consolidating and has only recently moved slightly above both its 10-day exponential moving average and 20-