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Technical Analysis:
AUD/JPY remains in an uptrend, trading comfortably above its 100-day SMA despite recent consolidation.
📈 Momentum remains neutral-to-positive:
🔹 RSI holds above 50
🔹 Broader bullish structure remains intact
Key levels:
🔹 Resistance: 114.80, then 115.00
🔹 Support: 114.00, then 113.20
A break above 114.80 could pave the way for a move toward the 115.00 level.
#AUDJPY #Forex #Trading #TechnicalAnalysis
Oil Pulls Back...
Brent crude eased to around $96 per barrel on Thursday after reaching $98 the previous day, but remains nearly 5% higher for the week.
A ceasefire agreement offered some relief to markets.
#Oil#Brent#WTI#MiddleEast#EnergyMarkets
The US Dollar gained ground on stronger-than-expected economic data and stalled US-Iran negotiations.
📅 Key events to watch:
🔹 Eurozone April Retail Sales
🔹 US Initial Jobless Claims
🔹 Friday's Nonfarm Payrolls (NFP) report
Gold continues to trade within a descending channel and below the 200-EMA, keeping the near-term outlook bearish.
📉 Momentum remains weak:
🔹 RSI stays below 50
🔹 MACD remains in negative territory
Key levels:
🔹 Resistance: $4,599, then $4,635
🔹 Support: $4,323
A break below $4,323 could signal further downside for gold.
#Gold #XAUUSD #Trading #TechnicalAnalysis
AUD/JPY maintains a bullish bias, holding above key moving averages and trending near recent highs.
📈 Momentum remains positive:
🔹 RSI stays above 50, suggesting buyers remain in control
🔹 Price is approaching resistance near 114.85
Key levels:
🔹 Resistance: 114.85
🔹 Support: 113.95, then 113.00
A break above 114.85 could pave the way for further upside.
#AUDJPY #Forex #Trading #TechnicalAnalysis
📈Goldman Sachs expects fuel margins to remain elevated through 2026 as Strait of Hormuz disruptions continue to strain supplies.
Goldman sees U.S. and European diesel margins at $50 and $37 per barrel, respectively, in the fourth quarter of 2026 and respective gasoline margins at $22 and $14.
Key data ahead:
🔹 Eurozone May HICP inflation (Eurostat)
🔹 US April JOLTS job openings
Focus remains on inflation signals and US labor market strength.
#Forex#Inflation#HICP#JOLTS#Markets