The NASDAQ 100 is showing bullish momentum, driven by strong earnings from major tech firms and stabilising macroeconomic factors. With supportive Fed policies, a bullish Ichimoku setup, and solid technical levels, the index remains poised for potential gains.
Technical Analysis AUD/CHF Update: Strategic Insights and Trade Management Conclusion The current technical setup and market conditions continue to support a bearish stance on AUD/CHF. The critical support levels (0.5674 and 0.5614) will be essential to monitor, with a final downside target near 0.5550. Until there is a break above the 50-day SMA or a significant fundamental change, the bearish momentum appears sustainable for AUD/CHF.
The USD/JPY is in a strong uptrend, supported by US interest rate hikes and Japan’s dovish stance. With inflationary pressures in the US and a widening rate differential, the pair is likely to continue its bullish momentum. Key technical levels suggest further upside potential towards 154.00.
The AUD/CHF pair shows bearish potential with a key target of 0.5550. The combination of weak Australian economic data, a dovish RBA, and the Swiss Franc’s safe-haven appeal supports a short position. With technical indicators pointing to further downside, the risk-reward ratio offers an attractive opportunity.
CAD/JPY has entered a consolidation phase, but fundamental and technical indicators suggest a bullish breakout may be imminent. Interest rate differentials, GDP growth disparities, and technical levels point to potential upside, with a possible breakout target of 111.00.
Plug Power’s stock has recently shown bullish momentum, with a 5.80% increase in the last trading session and the RSI at 61.42, indicating potential further upside. The stock is trading near its 50-day moving average of $2.04, and approaching the 200-day moving average at $2.84. With significant volume spikes and strong technical indicators, Plug Power may be poised for further gains in the short term. A long position with an entry at $2.37, a stop-loss at $2.00, and a target of $3.00 offers a favourable risk-reward ratio of 1:1.7.
GBP/CHF continues to show a bearish outlook, driven by the UK’s economic challenges, including weakening inflation and slower employment growth. With the Bank of England poised to cut rates, and Switzerland benefiting from safe-haven demand, the pair remains under pressure. The latest technical setup supports further downside, making a short position compelling at current levels.
Gold continues its bullish run amid USD weakness and inflation concerns. The technical picture shows strength, with the next resistance at $2,740, while key support lies at $2,680. RSI indicates overbought conditions but remains bullish overall. Stay long with a target of $2,760.
The EUR/USD pair continues to face bearish pressure due to diverging central bank policies and economic disparities between the Eurozone and the US. Technical indicators show oversold conditions, but the overall trend remains downward, with key support levels at 1.0850 and 1.0780. Traders should consider short positions with a well-managed risk-reward ratio of 1:1.6.
The GBP/AUD pair is currently range-bound, reflecting market indecision as both the BoE and RBA maintain cautious stances. Key technical levels are 1.9300 (support) and 1.9500 (resistance), with no clear breakout yet. Traders are advised to wait for a directional move before entering a position.
