EURUSD jumped sharply last week after the Fed kept rates steady and Eurozone GDP growth came in stronger than expected. Is the pair's 2026 slump finally over and how to tell if it isn't? Read in our latest Elliott Wave analysis. To access this article you need to have an active subscription The post Elliott Wave Analysis of EURUSD – August 3rd, 2026 appeared first on EWM Interactive.

James Webb Space Telescope: Revolutionizes astronomy with infrared imaging, revealing distant galaxies, exoplanet atmospheres, and some of the universe's earliest cosmic structures discovered.Hubble Space Telescope: Continues delivering iconic deep-space images while contributing decades of groundbreaking discoveries across astronomy, cosmology, and planetary science research worldwide.Nancy Grace Roman Space Telescope: Designed to survey vast cosmic regions, helping scientists investigate dark energy, exoplanets, and galaxy formation with unprecedented observational capabilities.Euclid Space Telescope: Maps billions of galaxies to improve understanding of dark matter, dark energy, and the large-scale structure of the expanding universe.SPHEREx Space Telescope: Conducts an all-sky infrared survey, studying galaxy evolution, cosmic origins, and the molecular ingredients essential for planetary system formation.Chandra X-ray Observatory: Observes high-energy cosmic events including black holes, neutron stars, and supernova remnants through powerful X-ray detection capabilities.XMM-Newton Observatory: Studies energetic astronomical phenomena using sensitive X-ray instruments that help scientists understand galaxy clusters and extreme cosmic environments.CHEOPS Space Telescope: Focuses on known exoplanets, measuring their sizes accurately to improve understanding of planetary composition and habitability across nearby star systems.PLATO Space Telescope: Searches for Earth-like exoplanets around Sun-like stars while studying stellar evolution through long-term, highly precise brightness observations.Read More StoriesJoin our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp

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Broader US stock indices close higher but near key technical levels heading into the weekendNext Week's Earnings Calendar: Focus Shifts Beyond Big TechU.S. Rig Count Edges HigherBarkin: Rate decision still a "close call"European indices close the day and the week mostly higher.Nikkei: US Treasury Department tells traders, prepare for potential additional interventionFed's Logan: Favors a rate hike as inflation is not on a sustainable courseUniv. of Michigan Consumer confidence final for July 55.2 vs 54.0 estimateCanada May GDP 0.3% versus 0.2% expectedUS Q2 Employment Cost Index +0.9% vs +0.8% expectedThe USD is higher to start the NA session. How are the charts impacting trader bias?Fed's Kashkari and Hammack explain their dissents at the last meeting. Inflation too highinvestingLive European markets wrap: Eurozone inflation ticks up in July; USD/JPY intervention again?The U.S. dollar finished mixed on Friday, but the dominant story remained the Japanese yen. The yen strengthened for a second consecutive day as speculation intensified that Japanese authorities were preparing to support the currency after reports of official rate checks and growing expectations that intervention may have already taken place. Additional reports suggested banks had been instructed to stand ready to exchange yen for euros, reinforcing the belief that policymakers remain uncomfortable with the yen's recent weakness.The Bank of Japan left its policy rate unchanged at 1.00%, as widely expected, although board member Takata dissented in favor of a 25-basis-point rate increase. While the policy decision itself had little lasting impact, traders focused instead on the BOJ's modestly more optimistic economic outlook, ongoing inflation risks, and the possibility that authorities remain willing to act if the yen comes under renewed pressure.Overall, Friday's trading was driven less by broad U.S. dollar flows and more by Japan-specific developments, with intervention speculation keeping the yen at the center of attention while most other major currencies traded in relatively narrow ranges. USD fell 1.07% vs the Japanese yen (USDJPY 157.80). USD fell 0.06% vs the euro (EURUSD 1.1534).For a technical view, click here.  USD fell 0.14% vs the British pound (GBPUSD 1.3483). For a technical view, click here.  USD fell 0.19% vs the Australian dollar (AUDUSD 0.7038). For a technical view, click here USD fell 0.24% vs the New Zealand dollar (NZDUSD 0.5892). USD rose 0.32% vs the Swiss franc (USDCHF 0.8076). USD rose 0.06% vs the Canadian dollar (USDCAD 1.4018).For a technical view, click here In central bank news, the 3 Fed dissenters did give their views which is becoming a tradition on the Friday after the meeting.  All three  dissenters—Neel Kashkari, Beth Hammack, and Lorie Logan—delivered a consistent message explaining why they favored a 25 basis point rate hike at this week's FOMC meeting. Each argued that inflation remains too high and is not on a credible path back to the Fed's 2% target without additional policy tightening. Kashkari emphasized that repeated supply shocks and growing demand from areas such as data center investment have increased the risk of inflation becoming entrenched, making a series of gradual rate increases the more prudent approach. Hammack stressed that current policy is not restrictive enough, warning that delaying action would only make inflation harder to control while the labor market remains resilient. Logan echoed those concerns, arguing that inflation risks remain skewed to the upside, monetary policy is not sufficiently restraining the economy, and a modest rate hike now would reduce the likelihood of more aggressive tightening later. Collectively, the three dissents reinforced the hawkish view that acting sooner with incremental rate increases is preferable to waiting until inflation forces a more forceful response.Richmond Fed President Tom Barkin also spoke and described this week's rate decision as a "close call," signaling that he sees the current policy stance as being near the appropriate level but is not yet convinced that another rate hike is warranted. While acknowledging that inflation pressures continue to filter unevenly through the economy, Barkin remains skeptical that the labor market has strengthened enough to justify additional tightening. He declined to say whether he would have joined the three dissenters who favored a rate increase, leaving his position balanced between the Fed's hold decision and the hawkish push for higher rates. Overall, Barkin appears to be taking a wait-and-see approach, remaining on the fence as he looks for clearer evidence from upcoming inflation and labor market data.The market continued to push yields higher out the curve with the 10 year up 5.1 basis points to 4.714%. The 30 year rose 5.5 basis points today to 5.261%. For the month, yields moved sharply higher with a steepening bias.2 year rose 9.2 bps5 year rose 20 bps10 year +25 bps30 year 31.6 bpsStock indices closed higher on the dayDow Jones Industrial Average (DJI): +278.05 points (+0.53%) to 52,491.26S&P 500 (SPX): +52.17 points (+0.70%) to 7,489.81Nasdaq Composite (IXIC): +251.68 points (+1.00%) to 25,373.85Russell 2000 (RUT): -14.76 points (-0.50%) to 2,931.34Nasdaq 100 (NDX): +167.85 points (+0.60%) to 28,274.20For the month the Nasdaq fell -3.20%, while the Dow and the S&P end the month little changed.  This article was written by Greg Michalowski at investinglive.com.

The Fed skipped forward guidance, Japan appeared to buy yen in size, and chip stocks crashed then roared back. A full recap of the July 27-31 week.

On Friday, the London Metal Exchange (LME) published its response to a combined consultation and discussion paper originally issued in March. It confirmed a series of reforms to its physical market infrastructure alongside a new consultation on streamlining how metal brands are listed The exchange said it will implement all proposals from the consultation section of the March paper, while advancing two discussion paper items alongside a fresh approach designed to speed up brand listings. Detailed rules on these three areas have been set out in a new consultation paper published today, with responses due by 11 September 2026. Among the proposed changes, the LME wants to shorten the minimum production period required before a brand can be considered for listing, with metal specific timelines ranging from six to twelve months depending on the commodity. The exchange is also consulting on allowing primary aluminium to be stored outdoors in Hong Kong, citing limited indoor capacity and rising interest in arbitrage trading between the Chinese Mainland and its global warehouse network. Confirmed changes from March include extending the current rent and Free on Truck charge cap through 2027 to 2032, capping rewarranting charges at $10 per metric tonne, and introducing Certificates of Analysis for copper to improve traceability and support -digitalisation. Georgina Hallett, LME Chief Sustainability Officer and Head of Physical Markets, said the changes would enhance warehouse network functioning while maintaining standards that make LME registered metal the global benchmark. The exchange said it will not proceed with other discussion topics, including queue-based rent capping, though some will remain under review.The post LME Advances Warehouse Reforms, Proposes Faster Metal Brand Listings first appeared on LeapRate | Online Trading Industry News, Broker Intelligence & Fintech Analysis.

“`html Scalping de Forex EUR/USD: Estrategia Sesión Londres con Orderflow Institucional Hola, soy Kevin. He pasado años scalpeando futuros de MNQ y operando pares de divisas de alto volumen. La sesión de Londres en EUR/USD es, sin duda, una de las mejores ventanas de oportunidad para scalpers que entienden el flujo de órdenes institucional. Después de miles de operaciones, he identificado patrones claros que separan a los scalpers rentables de quienes pierden dinero constantemente. En este artículo, te voy a mostrar exactamente cómo opero EUR/USD durante la sesión de Londres usando principios de orderflow y análisis de volumen institucional. ¿Por Qué la Sesión de Londres es Crucial para Scalpers EUR/USD? La sesión de Londres (8:00 AM – 17:00 PM GMT) es el corazón del mercado de divisas. Aquí es donde ocurre la acción real. Los volúmenes se multiplican, la volatilidad aumenta drásticamente, y las oportunidades de scalping abundan. Lo que muchos traders no comprenden es que esta sesión no es simplemente “activa”. Es donde los operadores institucionales posicionan sus órdenes masivas. Como scalper, tu objetivo es identificar estos flujos de dinero inteligente y operar junto a ellos. Ventajas Clave de la Sesión de Londres Volumen máximo: EUR/USD alcanza su pico de liquidez durante estas horas Spreads ajustados: Los spreads bid-ask son minimales, perfectos para scalping Movimientos predecibles: El orderflow institucional es más visible y consistente Menos ruido: Comparado con la apertura de Nueva York, hay menos “chop” aleatorio Solapamiento Nueva York: Últimas 2-3 horas de Londres coinciden con apertura de NY, creando oportunidades dobles Estos factores combinados crean un entorno perfecto para aplicar técnicas de volume profile orderflow trading, que es exactamente el tipo de análisis que uso diariamente. Estructura de Órdenes Institucionales: El Verdadero Secreto del Scalping EUR/USD Aquí es donde la mayoría de los scalpers fracasan: no entienden cómo piensan los operadores institucionales. Como alguien que ha estudiado profundamente el trading de futuros y el orderflow, puedo decirte que el 80% de los movimientos en EUR/USD durante Londres son resultado directo de órdenes institucionales colocadas estratégicamente. Patrones de Órdenes Institucionales en EUR/USD 1. Órdenes de Captura de Liquidez Los grandes operadores crean movimientos falsos para “cazar” órdenes de stop loss. Durante la sesión de Londres, verás patrones donde el precio dispara 10-15 pips en una dirección, ejecuta stops, y luego revierte violentamente. Este es el orderflow institucional en acción. Mi técnica: Coloco órdenes pendientes 5-8 pips más allá de niveles técnicos obvios. Cuando el precio ejecuta esos stops, tengo mi entrada lista justo antes de la reversión. 2. Órdenes de Rango Medio Plazo Los fondos y bancos colocan órdenes masivas en zonas de demanda y oferta establecidas. Estas órdenes actúan como “pisos” y “techos” temporales. Si entiendes dónde están estas zonas, puedes operar con una tasa de éxito extraordinaria. Recomiendo estudiar el concepto de supply and demand zones en profundidad si quieres dominar esto completamente. 3. Ejecución de Órdenes de Bloque Durante Londres, los bancos ejecutan órdenes de bloque que mueven el precio 20-50 pips. Como scalper, no quieres pelear contra estas. Quieres identificarlas temprano y surfearlas. Configuración de Niveles Clave para Scalping EUR/USD Sesión Londres No puedo enfatizar esto lo suficiente: los niveles correctos son la diferencia entre scalps rentables y pérdidas frustrantes. Paso 1: Identificar Niveles Diarios de Alta Probabilidad Antes de que comience Londres, debes identificar tres niveles clave: Pivote Diario: El nivel de equilibrio del día anterior Resistencia Principal (R1): Típicamente 50-80 pips por encima del cierre anterior Soporte Principal (S1): Típicamente 50-80 pips por debajo del cierre anterior Estos niveles actúan como zonas magnéticas. El orderflow institucional tiende a “botar” en estos niveles, creando oportunidades de scalp de alta probabilidad. Paso 2: Volumen en Perfil (Volume Profile) Durante mis operaciones de futuros de MNQ, aprendí la importancia crítica del volumen en perfil. EUR/USD no es diferente. Busca zonas de alto volumen donde mucho dinero ha pasado. Estas son las “autopistas” por donde viajan las órdenes institucionales. El precio no quiere estar en estas zonas; quiere atravesarlas rápidamente. Esto crea fricción y volatilidad predecible. Paso 3: Niveles de Sesión Anterior Marca estos niveles en tu gráfico: High y Low de la sesión asiática previa (3:00 AM – 8:00 AM GMT) Close de Nueva York del día anterior Open de Londres actual Las órdenes institucionales se acumulan en estos puntos de referencia históricos. Son como “puntos de anclaje” invisibles que guían el flujo de dinero. Patrón de Scalping EUR/USD de 5 Minutos: La Configuración del Orderflow Ahora vamos a lo práctico. Esta es mi configuración exacta de scalping para EUR/USD en gráficos de 5 minutos durante Londres: Setup 1: El “Bounce Institucional” Condiciones: Precio toca una zona de demanda (nivel de soporte clave) Vela de 5 minutos cierra por encima del cuerpo previo (señal de compra institucional) Volumen en la reversión aumenta 30%+ respecto al promedio RSI se mueve de sobrevendido (

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Key takeaways Microsoft’s Q4 FY2026 earnings will test whether its massive AI investment cycle is translating into meaningful financial returns, with investors focused on Azure growth, Copilot monetisation, free cash flow, and forward guidance rather than headline EPS or revenue.Capital expenditure remains the biggest swing factor, as Microsoft’s Capex-to-Revenue ratio has climbed to a record high among the Magnificent 7. Any increase in AI spending without clear evidence of stronger monetisation could weigh on investor sentiment despite an earnings beat.Microsoft has lagged other AI beneficiaries during the latest market rally, underperforming semiconductor stocks that have benefited directly from hyperscalers’ AI infrastructure spending, raising questions over when Microsoft’s AI investments will deliver stronger shareholder returns.Technical indicators continue to favour a bearish medium-term outlook, with Microsoft trading below its 50-day moving average and forming a potential major Head & Shoulders topping pattern. A break below 372.10 could reinforce a broader corrective decline unless the stock reclaims 413.60. Since the start of the current medium-term bullish trend phase of the US stock market from 30 June 2026 till 28 July 2026, the major US hyperscalers (part of the Magnificent 7 cohort of mega-cap stocks; Amazon, Microsoft, Alphabet, and Meta Platforms) that invested heavily in AI-related fixed assets (capex) have underperformed against a basket of US semiconductor stocks (PHLX Semiconductor Index +54.5%), where the hyperscalers deployed massive amount of funds either directly or indirectly into these US semiconductor firms.Microsoft’s share price is the worst performer among the Magnificent 7 hyperscalers, with a gain of 9.6% from 30 June 2026 to 28 July 2026 (see Fig. 1). Fig. 1: Magnificent 7 & US stock indices performances from 30 Mar 2026 to 28 Jul 2026 (Source: MacroMicro). The information presented is historical information, and past performance is not indicative of future performance. Ahead of today’s Microsoft fiscal Q4 2026 earnings, traders are treating the print as a test of whether Microsoft can convert its huge AI infrastructure spending into durable Azure growth, Copilot monetisation and operating leverage.Consensus is looking for EPS of about $4.21 on revenue of roughly $87.6 billion, with Microsoft scheduled to report after the U.S. close on 29 July 2026.Fundamental drivers that are likely to have a significant impact on its share price movement after the release of its earnings numbers will hinge on Azure growth, AI monetisation, capex discipline, free cash flow, and forward guidance.Let’s break down some of these drivers.AI monetisation: Copilot, Azure AI and OpenAI Traders will watch whether Microsoft can show stronger monetisation from Microsoft 365 Copilot, Azure AI Services, GitHub Copilot, OpenAI-related workloads and enterprise AI adoption.Microsoft said its AI business annual revenue run rate surpassed $37 billion in Q3, up 123% year on year, while S&P Global noted that consensus expects Azure AI Services revenue of about $23.7 billion for FY2026.Capex and free cash flow: the key risk factor Fig. 2: US Big Tech Capex-to-Revenue ratios as of Q2 2026 (Source: MacroMicro). The information presented is historical information, and past performance is not indicative of future performance. Capex is arguably the biggest swing factor. Microsoft previously guided to around $190 billion in calendar-2026 capital expenditure, including about $25 billion due to higher component pricing, and said it expects to remain capacity-constrained through at least 2026.MarketWatch reported that investors are scrutinising whether this huge AI spending is generating sufficient returns, with Deutsche Bank estimating Q4 free cash flow could fall 34.2% year on year to $16.8 billion.In the Q1 2026 calendar year, Microsoft’s Capex-to-Revenue ratio has continued its climb northwards to 37.25 (the highest among the Magnificent 7 hyperscalers) from 24.97 recorded in Q3 2025 calendar year (see Fig. 2).The rapid increase in Microsoft’s Capex-to-Revenue ratio is likely to alert traders that Microsoft now faces a higher hurdle to generating revenue and free cash flows from its AI-related fixed-asset investments.A capex raise without clear monetisation would be negative, even if headline earnings beat.Let’s now unpack the medium-term outlook (multi-week) of Microsoft’s share price from a technical analysis perspective. Tracing out a major bearish “Head & Shoulders” top since 31 July 2025 Fig. 3: Microsoft (MSFT) major trend as of 28 Jul 2026 (Source: TradingView). The information presented is historical information, and past performance is not indicative of future performance. Fig. 4: Microsoft (MSFT) medium-trend as of 28 Jul 2026 (Source: TradingView). The information presented is historical information, and past performance is not indicative of future performance. The weekly chart of Microsoft (MSFT) has traced out a major bearish “Head & Shoulders” topping configuration, coupled with a declining Chaikin Money Flow reading (see Fig. 3).These observations suggest that the major uptrend phase of MSFT from the 4 November 2022 low may be in jeopardy for a bearish reversal.The 1% rebound in MSFT on Tuesday, 28 July 2026, stalled after a retest of the 50-day moving average, which the price has traded below since 9 June 2026, indicating a lack of medium-term bullish momentum (see Fig. 4).Watch the 413.60 key medium-term pivotal resistance, and a break below 372.10 near-term support would expose the next supports of 355.74 and 341.43 (the major neckline support of the “Head & Shoulders”) in the first step.On the other hand, a daily close above 413.60 and clearance would negate the bearish tone, suggesting a potential squeeze up to retest 431.60 (also the 200-day moving average). Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2026 OANDA Business Information & Services Inc.

Key takeaways SpaceX’s fast-tracked inclusion into the Nasdaq-100 is expected to trigger around US$4.3 billion of compulsory passive buying, but historical precedents suggest such events can evolve into “sell-the-news” opportunities as early institutional buyers distribute shares to index funds.Past Nasdaq-100 additions such as Palantir Technologies and Strategy experienced medium-term pullbacks of 23% and 15%, respectively, after their index inclusions, highlighting the risk of profit-taking once passive fund demand is absorbed.Despite its dominant AI and Starlink narrative, SpaceX’s valuation remains exceptionally demanding, trading above 115x trailing sales while still posting a net loss, leaving little room for operational disappointments or tighter financial conditions.Technically, bearish momentum is building, with the SpaceX perpetual contract forming a bearish flag pattern and weakening RSI momentum. A break below 152.60 would reinforce the bearish outlook, while only a sustained move above 176.95 would negate the downside scenario.Massive $4.3 billion passive wave arrives via fast-tracked inclusion Following its record-breaking Initial Public Offering (IPO) on 12 June 2026, which raised a historic $75 billion at an issuance price of $135 per share, aerospace and AI giant SpaceX (NASDAQ: SPCX) has been fast-tracked for entry into Wall Street’s tech-heavy Nasdaq-100 index.This impending milestone has triggered intense front-running optimisation by institutional traders. When a mega-cap stock joins the Nasdaq-100, index-tracking investment vehicles, such as the Invesco QQQ Trust, which manages over $300 billion in assets under management (AUM), are legally required to purchase a proportional stake in the equity.Analysts estimate that this rebalancing will force approximately $4.3 billion in aggregate passive buying. To facilitate this unprecedented, fast-tracked addition, major index providers relaxed traditional entry constraints regarding profitability timelines and post-listing seasoning periods. At its current market price of around $160.40, SpaceX’s implied market capitalisation sits near a staggering $2.1 trillion.Historical case studies flash “sell-the-news” risks Fig. 1: Post-Nasdaq 100 inclusion price behaviour of Palantir and Strategy from 24 Dec 2024 to 13 Jan 2025 (Source: TradingView). The information presented is historical information, and past performance is not indicative of future performance. While retail market participants often perceive major index inclusion as an unmitigated bullish catalyst, historical stock market data indicate that such events frequently coincide with medium-term structural peaks.The mechanics behind this phenomenon are driven by speculative positioning: nimble institutional capital aggressively bids up a stock weeks ahead of the official rebalance date, effectively front-running the passive funds. On the day of execution, these speculative longs may use the massive, price-inelastic liquidity provided by the mandatory buyers to dump their positions, triggering a “sell-the-news” correction.Palantir Technologies (PLTR): Upon its inclusion in the Nasdaq-100 on 23 December 2024, the stock established a prominent medium-term peak before enduring a punishing 23% corrective decline over the subsequent multi-week sequence (see Fig. 1).Strategy (MSTR): Followed a near-identical trajectory, printing a temporary cyclical high right as the official index inclusion took effect, which gave way to a sharp technical pullback of 15% as front-running momentum completely evaporated (see Fig. 1).Stretched hyperscalers’ valuations collide with the AI infrastructure frenzy SpaceX’s public debut occurred at the absolute zenith of the global AI infrastructure trade, a period characterised by extreme valuation multiples and unprecedented demand for high-bandwidth memory (HBM) and AI compute capacity.Wall Street has aggressively reclassified SpaceX from a pure-play aerospace firm into a vital player in the AI supercycle. US-based Wedbush Securities recently initiated coverage on SPCX with an "Outperform” rating and a $190.00 price target, explicitly categorising the firm as a “major hyperscaler” due to its large-scale AI compute deals and Starlink data distribution capabilities.However, trading at a price-to-sales (P/S) ratio exceeding 115x trailing sales represents an exceptionally overextended fundamental condition. The underlying company remains structurally sensitive to capital expenditure cycles, having reported a net loss of $4.9 billion in 2025 alongside volatile swing margins.With expectations priced to absolute perfection, any near-term micro-bottleneck or broader macro-liquidity contraction could trigger a rapid downward mean reversion, mirroring the technical vulnerabilities seen in other semiconductor and AI bellwethers.Technical outlook: Bearish momentum is building up below 176.95 Fig. 2: SPCX/USDT medium-term trend as of 7 Jul 2026 (Source: TradingView). The information presented is historical information, and past performance is not indicative of future performance. The explosive post-IPO price action on SpaceX has entered a potential bearish consolidation phase. After surging from its 135.00 IPO floor to an intraday all-time high of 225.64 on 16 June 2026, the stock has shed 28%, closing at 160.42 on Monday, 6 July 2026, signalling that the initial hyper-bullish impulsive wave has reached exhaustion.We are now taking reference from the price actions of the SpaceX perpetual contract (SPCX/USDT), a crypto derivative listed on the Binance crypto exchange since 21 May 2026, to construct a more meaningful technical analysis outlook on SpaceX, as SPCX/USDT offers more historical data over the cash equity listed on the Nasdaq exchange (see Fig. 2).Since its low of 146.87 printed on 23 June 2026, SPCX/USDT has been oscillating within a “bearish flag” configuration that indicates a pause before a new potential bearish impulsive down move sequence resumes.In addition, the 4-hour RSI momentum has staged a bearish breakdown below its key ascending trendline support and now hovers below the 50 level. These observations suggest near-term bearish momentum has resurfaced.Watch the 176.95 key medium-term pivotal resistance, and a break below 152.60 intermediate support (the lower boundary of the “bearish flag”) opens scope for a new potential bearish leg to retest 146.87/141.90 (23 June 2026 low and Fibonacci extension) before exposing the next medium-term support at 131.76 (Fibonacci extension).On the flip side, a clearance and a daily close above 176.95 would invalidate the bearish scenario, triggering a squeeze up towards the next medium-term resistances at 199.30 and 212.70. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2026 OANDA Business Information & Services Inc.

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