Matt Simpson

The US dollar index suffered its most session close in nearly 3-weeks yesterday. Given its tendency to trade lower throughout April and signs of weakness at the highs, we’re keeping an eye out for a break lower to signal a near-term top. Over the past 30 years, April has proven to be a tough month […]

Near the end of March, we outlined USD/CHF’s potential to rebound before its next leg lower. With the rebound having since occurred, we’re now watching closely for signs of bearish momentum to return. Part of the rationale for an ‘eventual’ break lower was based on the tendency for April to be the worst month of […]

Whilst we see potential for Bitcoin to break to new highs, we think a correction below 5,400 could be on the cards first. Since its explosive breakout on the 2nd April. Bitcoin has edged it was to an 18-month high. However, price action has become a little choppy with 5,400 resistance nearby. Prices are extended […]

A summary of the weekly Commitment of Traders Report (COT) from CFTC to show market positioning among large speculators. EUR: Large speculators are the most bearish on Euro since December 2016. AUD: Traders are their most bearish since November 2018, yet prices are failing to track lower. WTI: Bulls push their net-long exposure to their […]

Since the end of January, AUD/JPY has traded in a sideways range between 77.44 – 79.84. It’s unclear at this stage which side it will eventually break out of but, we see potential for AUD/JPY to trade lower from the highs of its range. Indeed, it appears to have favoured traders who sold near the […]

Having conquered the November high with yesterday’s breakout, the Dow looks up to its record highs with little in the way of technical resistance. Since its V-bottom, the index rallied over 20% since the December low in an almost straight line. Whilst the index spent a month coiling within a symmetrical triangle, an elongated bullish […]

The trend structure is picking up pace after respecting its 200-day average and breaking to a new cycle high. Whilst we could see a pullback from current levels, we’re looking to extend its trend. Matt Simpson takes a technical look. City Index: Spread Betting, CFD and Forex Trading on 12,000+ global markets including Indices, Shares, […]

Improved risk sentiment and higher oil prices could be supportive of CAD/JPY. So we’re closely watching for a potential break higher. Risk sentiment has been given a boost, thanks to the rebound from China’s PMI reads progress with US-China trade talks. Naturally this has been supportive of risk assets in general, but also for commodity […]

In recent sessions, EUR/USD has drifted down towards long-term support.  Given we’ve not seen a weekly close beneath 1.1200 in 21-months and the daily timeframe is looking stretched, a bounce from current levels is not out of the question. We can see on the weekly chart that, since the 2018 high, bearish momentum has waned […]

The Dow Jones Industrial Average closed to its highest level since October yesterday. Given the strength of its underlying trend, its breakout could have further to go. Overall, momentum since December’s V-bottom has been firmly bullish, although price action had been coiling up within a triangle pattern since late February. Still, the pattern has held […]