Trade ideas

Euro faltered near the 2016 highs last week with the bulls looking to build on a slip towards support. Battlelines drawn on the EUR/USD short-term technical charts.

GBP/USD continues to rebound from a fresh monthly low (1.3383) after dipping below 50-Day SMA (1.3398) for the first time since April.

Gold was bouncing off its earlier lows at the time of writing, though remained lower on the weak after being unable to drive much higher despite the tensions between Israel and Iran for the past 7 days.

Middle East developments remain the principal lodestar for FX traders, and unless there’s a material shift, dollar’s losses will likely be limited, and it may even find a floor around current levels. As such, the EUR/USD forecast is still subjective to increased volatility as investors await further developments in the Middle East.

Norges Bank cut earlier than expected, but the krone barely blinked. With USD/NOK still tracking oil and risk sentiment more than rates, geopolitical headlines remain the dominant driver.

WTI crude oil surged 30% in 10 days but is now showing signs of exhaustion. As Trump weighs US involvement in the Israel–Iran conflict, traders face a key decision: chase or fade?

CPI surprises to the upside again in Japan, reviving speculation that the BOJ may not be able to sit on its hands much longer. With geopolitical tensions and oil prices also driving price action, USD/JPY continues to grind higher.

The New Zealand dollar has broken down — and the Australian dollar may be next. With bearish divergences forming and risk sentiment fading, AUD/USD could soon follow NZD/USD lower.

The S&P 500 forecast remains murky as markets grapple with rising geopolitical tensions and renewed inflation anxieties. Sentiment soured across European and Asian bourses in the first half of Thursday, with traders unnerved by the growing spectre of US military involvement in the Israel–Iran conflict.

New Zealand’s economy outperformed in Q1, but you wouldn’t know it from the Kiwi’s reaction. NZD/USD broke sharply lower Thursday as geopolitical nerves saw risk appetite crater, triggering a bearish technical break that may have further to run.

Silver’s rally is starting to wobble, with wedge support under pressure and bullish momentum fading fast. Add in signs the U.S. dollar may have bottomed, and the risk of a bearish break is rising.