Ipek Ozkardeskaya
Swissquote Bank Ltd
In today’s special episode of Market Talk, we’re diving deep into one of the most fascinating tools in technical analysis: the Fibonacci retracement. Learn how this popular indicator helps identify key support and resistance levels, spot potential trend reversals, and guide your trading strategy with confidence.
We’ll also explore the golden ratio’s surprising connections to nature and why its popularity makes it a go-to tool for traders worldwide. Using practical examples like EURUSD and oil, I’ll show you how to apply Fibonacci levels effectively—whether you’re a day trader or focusing on medium-term trends.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
Editors’ Picks
EUR/USD extends slide toward 1.0300, touches new two-year low
EUR/USD stays under bearish pressure and trades at its lowest level since December 2022 below 1.0350 on Thursday. The pair turned south amid a resurgent US Dollar demand and worsening market mood. Investors stay cautious at the onset of 2025, awaiting the US jobs data for fresh incentives.
GBP/USD slumps to multi-month lows below 1.2450
Following an earlier recovery attempt, GBP/USD reversed its direction and declined to its weakest level in nearly eight months below 1.2450. The renewed US Dollar (USD) strength on worsening risk mood weighs on the pair as markets await mid-tier data releases.
USD/JPY drops to test 157.00 amid thin trading
USD/JPY turns south to test 157.00 in Thursday's Asian trading, erasing early gains. The pair loses traction as risk sentiment deteriorates on bleak Chinese PMI data and revives the safe-haven demand for the Japanese Yen. Thin liquidity conditions also exaggerate USD/JPY moves as Japan is on holiday.
Editors’ Picks
EUR/USD extends slide toward 1.0300, touches new two-year low
EUR/USD stays under bearish pressure and trades at its lowest level since December 2022 below 1.0350 on Thursday. The pair turned south amid a resurgent US Dollar demand and worsening market mood. Investors stay cautious at the onset of 2025, awaiting the US jobs data for fresh incentives.
GBP/USD slumps to multi-month lows below 1.2450
Following an earlier recovery attempt, GBP/USD reversed its direction and declined to its weakest level in nearly eight months below 1.2450. The renewed US Dollar (USD) strength on worsening risk mood weighs on the pair as markets await mid-tier data releases.
Gold benefits from risk aversion, climbs above $2,640
Gold gathers recovery momentum and trades at a two-week-high above $2,640 heading into the American session on Thursday. The precious metal benefits from the sour market mood and the pullback seen in the US Treasury bond yields.
XRP rockets 11% as Bitcoin starts New Year with bullish bang
Crypto majors zoomed higher in the past 24 hours as the market entered a widely expected bullish year, with Bitcoin inching above $95,000 to shake off losses from last week. XRP surged 11% to lead growth among majors as of Thursday, led by $1.3 billion worth of trading volumes on Korea-focused exchange UpBit.
Three Fundamentals: Year-end flows, Jobless Claims and ISM Manufacturing PMI stand out Premium
Money managers may adjust their portfolios ahead of the year-end. Weekly US Jobless Claims serve as the first meaningful release in 2025. The ISM Manufacturing PMI provides an initial indication ahead of Nonfarm Payrolls.
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