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Gold Technical Analysis – Eyes on the NFP report
Fundamental Overview
Gold got stuck in a bit of a consolidation this week after the Monday’s rally. Some renewed trade tensions gave the precious metal a boost in the final part of last week but since then things have calmed down.
In the bigger picture, gold remains in an uptrend as real yields will likely continue to fall amid Fed easing. But in the short-term the repricing in rate cuts expectations could weigh on gold, so watch out for the economic data, especially the NFP and CPI reports.
Gold Technical Analysis – Daily Timeframe
On the daily chart, we can see that gold broke above the downward trendline and opened the door for a move into new highs. The buyers piled in on the break to target the 3438 level next. The sellers, on the other hand, might want to wait for the price to come into the 3438 level to position for a drop back into the major upward trendline.
Gold Technical Analysis – 4 hour Timeframe
On the 4 hour chart, we can see that we have a minor upward trendline defining the bullish momentum. From a risk management perspective, if we get a pullback, the buyers will have a better risk to reward setup around the trendline to position for a rally into the 3438 level. The sellers, on the other hand, will want to see the price breaking lower to start targeting the 3200 level next.
Gold Technical Analysis – 1 hour Timeframe
On the 1 hour chart, we can see that we have a nice support zone around the 3330 level. That’s where the buyers stepped in on the pullback to position for a rally into the 3438 level next. If the price continue to range and we get another pullback into the support, we can expect the buyers to pile in again, while the sellers will look for a break lower to extend the drop into the 3200 level next. The red lines define the average daily range for today.
Upcoming Catalysts
Today, we get the latest US Jobless Claims figures. Tomorrow, we conclude the week with the US NFP report.
Watch the video below
This article was written by Giuseppe Dellamotta at www.forexlive.com. -
Nasdaq Analysis for Today with tradeCompass
Nasdaq Analysis for Today (June 5, 2025): tradeCompass Methodology
Current Nasdaq Futures Price: $21,748 (hovering around today's VWAP)
Nasdaq Analysis Today: Market Context & Directional Bias
Today's Nasdaq analysis highlights a narrow trading range persisting since yesterday, characterized by a nearly doji-like formation indicating indecision among market participants. Today's price action remains tight around the VWAP, suggesting limited conviction for significant moves yet.
tradeCompass identifies a cautiously bullish scenario above $21,750, which corresponds closely with today's Volume-Weighted Average Price (VWAP). For traders seeking early Nasdaq price predictions, entering trades around this level provides higher reward versus risk potential due to tighter stop placements but inherently carries greater uncertainty.
Educational Insight: Nasdaq Analysis Using Volume Profile & VWAP
Volume Profile in Nasdaq Analysis: Volume Profile is crucial in today's Nasdaq analysis, visualizing traded volume at specific price points. High-volume areas like the Point of Control (POC) or Value Area boundaries (VAH/VAL) typically serve as strong intraday support and resistance. Traders frequently use these volume clusters to identify strategic entry and exit points.
VWAP for Precise Nasdaq Price Prediction: Volume Weighted Average Price (VWAP) is vital for accurate Nasdaq price predictions, representing the average transaction price adjusted for volume throughout the trading day. VWAP standard deviation bands assist traders in pinpointing optimal partial profit-taking and risk mitigation zones, helping to define entry, exit, and stop-loss strategies.
Bullish Trade Plan According to Today's Nasdaq Analysis with tradeCompass
Bullish Threshold: Nasdaq Futures bullish above $21,750
Partial-Profit Targets for Bulls (Strategically defined using VWAP & Volume Profile):
$21,763.5: Just below today's second upper VWAP standard deviation.
$21,771: Slightly under yesterday's POC and today's third upper VWAP deviation.
$21,789.5: Slightly below yesterday's VAH, key resistance in volume profile analysis.
Runner Targets for Extended Nasdaq Price Prediction:
$21,840: Ideal strategic area above recent tight trading ranges.
$21,855: Below the May 29th VAH, representing significant historical volume resistance.
Optional ambitious runner target at $22,000, a psychological round number.
Bearish Trade Plan According to Today's Nasdaq Analysis with tradeCompass
Bearish Threshold: Nasdaq Futures bearish below $21,740 (below yesterday’s VWAP)
Given the current tight trading range, Nasdaq traders today should employ quick partial profit-taking to manage risk effectively.
Partial-Profit Targets for Bears:
$21,734: Quick initial profit target for immediate risk reduction.
$21,726: VWAP standard deviation band offering logical support.
$21,713: Key high-volume node identified in yesterday's volume profile.
$21,704.5: Slightly above the POC from two days ago, a strong volume-based support.
$21,629: Near June 3rd VWAP, representing another high-confidence area.
$21,591: Just above June 3rd VAL, marking a deep but feasible bearish target.
Trade Management Reminders for Nasdaq Traders Today
Consider taking partial profits at defined targets to mitigate risk.
After reaching the second profit target, Nasdaq traders may consider moving stops to entry to protect gains, though adjustments should align with individual trading strategies and risk tolerance.
Regularly reassess your positions as per evolving price action and market dynamics.
Disclaimer:
Rebranding Notice
This Nasdaq analysis today is brought to you by tradeCompass, soon to be part of investingLive.com, your comprehensive source for stocks, commodities, crypto, and investing insights.
Join Us on Telegram
Stay ahead with timely stock picks, market insights, and real-time updates by joining the investingLive.com Stocks Telegram channel today! This Nasdaq analysis today provides directional guidance only and is not financial advice. Always trade responsibly according to your personal strategy and risk management protocols.
This article was written by Itai Levitan at www.forexlive.com. -
USDJPY Technical Analysis – Awaiting the key US data
Fundamental Overview
The USD remains a bit on the backfoot as the support from the more hawkish repricing in interest rates expectations got exhausted a couple of weeks ago. The market is now in line with the Fed’s baseline projection of two cuts in 2025 and we will likely need strong US data to price out the remaining rate cuts and give the greenback a boost.
The data for now has been good but not strong enough to make the market to price out the two cuts expected by year-end. The next key data will be the prices paid component in the ISM Services PMI today, the US Jobless Claims figures tomorrow, the NFP report on Friday and the CPI next week.
On the JPY side, the currency weakened across the board recently after we got the news that Japan was considering trimming the issuance of super-long bonds but eventually erased the losses as some trade tensions gave the yen a short term boost.
On the monetary policy side, the market is still unsure on another rate hike given that it’s pricing just 18 bps of tightening by year-end. Nonetheless, that’s been creeping up in the last few weeks supported also by higher than expected Japanese inflation data. The US-Japan trade deal and the evolution of inflation will be key for the BoJ.
USDJPY Technical Analysis – Daily Timeframe
On the daily chart, we can see that USDJPY bounced around the key 142.35 level as the buyers stepped in to position for a rally back into the 148.32 level. The sellers will need the price to break below the 142.35 support to extend the drop into the 140.00 handle next.
USDJPY Technical Analysis – 4 hour Timeframe
On the 4 hour chart, we can see that the price rejected the most recent swing high level at 144.44 where the sellers stepped in to target a break below the 142.35 level. The buyers will need the price to break above this level to open the door for a rally into the 146.28 level next.
USDJPY Technical Analysis – 1 hour Timeframe
On the 1 hour chart, we can see that we have a minor support level at 143.67. That’s where we can expect the buyers to step in with a defined risk below the level to position for a break above the 144.44 level. The sellers, on the other hand, will look for a break lower to increase the bearish bets into the 142.35 level next. The red lines define the average daily range for today.
Upcoming Catalysts
Today, we have the US ADP and the US ISM Services PMI. Tomorrow, we get the Japanese wage data and the latest US Jobless Claims figures. On Friday, we conclude the week with the US NFP report.
Watch the video below
This article was written by Giuseppe Dellamotta at www.forexlive.com. -
USDCAD Technical Analysis - Key US data in focus
Fundamental Overview
The USD remains on the backfoot as the support from the more hawkish repricing in interest rates expectations got exhausted a couple of weeks ago. The market is now in line with the Fed’s baseline projection of two cuts in 2025 and we will likely need strong US data to price out the remaining rate cuts and give the greenback a boost.
The data for now has been good but not strong enough to make the market to price out the two cuts expected by year-end. The next key data will be the prices paid component in the ISM Services PMI tomorrow, the US Jobless Claims figures on Thursday, the NFP report on Friday and the CPI next week.
On the CAD side, the underlying inflation in Canada has been rising steadily since last December and more recently we got much higher than expected numbers with the Trimmed Mean rate back above 3%.
That triggered a more hawkish repricing in interest rates expectations with the market now seeing just one last rate cut in 2025. This week we have the BoC rate decision where the central bank is widely expected to hold rates steady.
USDCAD Technical Analysis – Daily Timeframe
On the daily chart, we can see that USDCAD is rejecting once again the major upward trendline around the 1.37 handle. This is where the buyers continue to step in with a defined risk below the trendline to position for a pullback into the downward trendline. The sellers, on the other hand, will want to see the price breaking lower to increase the bearish bets into the 1.35 handle next.
USDCAD Technical Analysis – 4 hour Timeframe
On the 4 hour chart, there’s not much else we can glean from this timeframe but the first target for the buyers should be the swing high at 1.3860. That would also be a nice spot for the sellers to step in and position for the break below the major upward trendline with a better risk to reward setup.
USDCAD Technical Analysis – 1 hour Timeframe
On the 1 hour chart, we can see that we have a minor upward trendline defining the current bullish momentum. The buyers will likely continue to lean on it to keep pushing into new highs, while the sellers will look for a break lower to target a break below the major trendline. The red lines define the average daily range for today.
Upcoming Catalysts
Today, we get the US Job Openings data. Tomorrow, we have the BoC rate decision, the US ADP and the US ISM Services PMI. On Thursday, we get the latest US Jobless Claims figures. On Friday, we conclude the week with the Canadian Employment data and the US NFP report.
This article was written by Giuseppe Dellamotta at www.forexlive.com. -
Gold Technical Analysis – Renewed trade tensions lift the market
Fundamental Overview
In the final part of last week, the trade tensions returned as Trump accused China of violating their agreement. We also saw a general step up in Trump’s hawkish rhetoric on tariffs with the President announcing an increase to 50% on steel tariffs starting tomorrow. Maybe being called TACO made him mad.
In the bigger picture, gold remains in an uptrend as real yields will likely continue to fall amid Fed easing. But in the short-term the repricing in rate cuts expectations could weigh on gold, so watch out for the economic data, especially the NFP and CPI reports.
Gold Technical Analysis – Daily Timeframe
On the daily chart, we can see that gold broke above the downward trendline and opened the door for a move into new highs. The buyers piled in on the break to target the 3438 level next. The sellers, on the other hand, might want to wait for the price to come into the 3438 level to position for a drop back into the major upward trendline.
Gold Technical Analysis – 4 hour Timeframe
On the 4 hour chart, we can see more clearly the breakout and the stronger bullish momentum. From a risk management perspective, if we get a pullback, the buyers will have a better risk to reward setup around the minor upward trendline to position for a rally into the 3438 level. The sellers, on the other hand, will want to see the price breaking lower to start targeting the 3200 level next.
Gold Technical Analysis – 1 hour Timeframe
On the 1 hour chart, we can see that we have a nice support zone around the 3330 level. If the price gets there, we can expect the buyers to step in with a defined risk below the support to position for a rally into new highs. The sellers, on the other hand, will look for a break lower to extend the pullback into the minor upward trendline. The red lines define the average daily range for today.
Upcoming Catalysts
Today, we get the US Job Openings data. Tomorrow, we have the US ADP and the US ISM Services PMI. On Thursday, we get the latest US Jobless Claims figures. On Friday, we conclude the week with the US NFP report.
Watch the video below
This article was written by Giuseppe Dellamotta at www.forexlive.com.