Matt Simpson

Ethereum Uppercuts Bitcoin Ethereum has been an outperformer this week in the crypto space, after breaking out of a bullish wedge. Week to date, Ethereum (ETH) has rallied over 17 whilst a tailgating Ripple (XRP) is hot on its heels, both of which have left Bitcoin (BTC) for dust which traders -0.3% lower. Yesterday it […]

Kiwi Crosses Point Towards Further Weakness Ahead NZD crosses are falling in tandem which suggests broader weakness awaits. NZD/USD remains in a clear downtrend, and the retracement from the 0.6269 low appears to have had its day. The correction failed to retest the 38.2% Fibonacci level and, after a few days of consolidation, printed a […]

With oil prices exploding higher yesterday, we take a look at how WTI has performed following similar spikes of volatility. By yesterday’s close, WTI futures enjoyed their 5th most bullish session according to Reuters data going back to December 1984. If prices are to remain elevated, it will surely put an extra strain on growth numbers as costs […]

Weekly COT Report: Gold Bugs Reduce Long Exposure At Fastest Rate In 4 Months As of Tuesday 10th September: Traders trimmed bullish exposure to USD by -$0.54 billion, placing them at +$12.6 billion net-long (+$15.3 billion against G10 currencies) Traders are their most bullish in the USD index (DXY) since February The British pound saw the […]

Oil prices rallied gapped higher an astonishing 12% at market open, after around 5% of global oil supply was removed following a drone strike on a Saudi Arabian oil facility over the weekend. Oil stocks also surged and safe-haven demand for gold saw the yellow metal trade back above $1500 in early Asia. Houthi, an […]

A bullish divergence and momentum shift at the lows saw GBP/USD reverse course. Now consolidating below key resistance, we’re waiting for a break above 1.24 to signal a potential long. It should be remembered that GBP will continue to be vulnerable to headline risks surrounding Brexit, which can unfortunately make technical analysis on such pairs […]

USD/SGD Could Be Lining Up For A ‘Singapore Swing’ Having reached support, we’re looking for a potential swing trade short should a lower high form. Last week we highlighted the potential for the Yuan appreciate and suggested a bearish theme for USD/SGD as it correlates very well with USD/CNY. Since the original analysis, the Yuan […]

Trade tensions are thawing, Trump and Xi are besties again, allowing risk assets to rally as a result.  Still, some appear more bullish than others…   The S&P500 has record highs within easy reach and momentum suggests we could test this key milestone over by the end of the week. The breakout from range was […]

Draghi’s final meeting is just hours away, with several Euro crosses sitting on ‘make or break’ levels. For a full preview of what to expect from today’s ECB meeting, you can read yesterday’s ECB preview by my colleague Fiona Cincotta. Although the basic premise is for Euro to weaken if ECB underdeliver, or strengthen if they come […]

The gold silver ratio is paused at a level of resistance for a potential pairs trade, whilst the underlying markets also test pivotal levels. We can see on the daily chart that momentum has remained mostly bearish since the July high, although prices have retested a prior level of support. A spinning top doji formed […]