Crude oil prices came under pressure earlier in the day, falling to a low of $90.12. That decline found willing buyers just above the 100-hour moving average at $90.10, a key technical support level. Holding that support gave buyers the confidence to step back in, and the rebound has since lifted prices to $93.23, up $1.08 on the day.The recovery has also pushed crude back above its 200-hour moving average at $92.48, tilting the near-term bias back in favor of the bulls. The next key upside target comes at the 38.2% retracement of the decline from the April high at $93.74. A break above that level would have traders focusing on the May 26 and June 1 highs near $94.71. If momentum continues beyond that resistance zone, attention would shift toward the 50% midpoint of the broader move lower at $98.30.For now, buyers have regained control by defending the 100-hour moving average and reclaiming the 200-hour moving average. As long as the price remains above those key technical levels, the path of least resistance is higher, keeping pressure on sellers and giving buyers a platform to extend the recovery. This article was written by Greg Michalowski at investinglive.com.

The AUDUSD is trading higher today after finding solid support during the early Asian-Pacific session against its 100-hour and 200-hour moving averages near 0.7155. Holding above that key technical zone gave buyers the green light to re-enter, helping drive the pair to a North American session high of 0.7188. The pair currently trades near 0.7185, keeping the short-term bullish bias intact.The next major hurdle comes in a well-defined swing area between 0.71936 and 0.7200. This zone has repeatedly acted as both support and resistance since mid-April, making it an important technical battleground. Last Friday, the rally stalled almost exactly at 0.7200, triggering a rotation lower and reinforcing the significance of the level. As a result, a break above 0.7200—and, more importantly, the ability to stay above it—would be a key signal that buyers are gaining further control.If buyers can establish a foothold above 0.7200, the next target comes in the 0.7221 to 0.7227 area. A move through that zone would shift attention toward the 2026 highs near 0.7277. Those highs were set within a broader resistance area dating back to 2022 between 0.72656 and 0.7283, making that region an important longer-term target. A sustained move above that ceiling would likely open the door to stronger upside momentum.For now, the technical bias remains tilted in favor of the buyers as long as the price stays above the 100-hour and 200-hour moving averages. The 0.7200 level remains the key upside barometer. A break above would strengthen the bullish case, while failure to do so could keep the pair trapped within its recent trading range. This article was written by Greg Michalowski at investinglive.com.

The Canadian economy continues to show signs of slowing. Business investment remains weak, unemployment has moved higher, and overall growth is hovering near stall speed. At the same time, inflation pressures have reemerged, driven largely by higher energy prices and trade-related costs. Against that backdrop, the Bank of Canada has adopted a wait-and-see approach, keeping its policy rate at 2.25% as policymakers assess whether slowing growth or persistent inflation will prove to be the greater challenge in the months ahead. Comments from Prime Minister Mark Carney today reinforced that view, noting that economic data are likely to remain uneven and that investment trends continue to be choppy.From a technical perspective, the USDCAD declined from late March into early May before staging a recovery through May and into the start of June. Sellers regained some control late last week as the pair corrected lower, but downside momentum faded after support buyers stepped in near a key swing area between 1.3765 and 1.3778. During that decline, the pair fell below a cluster of important moving averages, including the 100-hour moving average, the 200-hour moving average, and the 200-day moving average. However, the inability to extend below the swing area support helped stabilize the market.The rebound that followed saw the pair base against the 200-hour moving average before climbing back above both the 200-day and 100-hour moving averages, shifting the near-term technical bias back in favor of buyers. In today's trading, price action has been choppy, with the pair moving lower during the early North American session. That decline has brought the price back toward an important support cluster defined by the rising 100-hour moving average at 1.3822 and the converged 200-hour and 200-day moving averages near 1.3811.For sellers to regain control, they would need to push the pair below this moving-average cluster and keep it there. Failing that, the recent recovery remains intact, leaving buyers with a modest technical advantage while the market continues to weigh a slowing Canadian economy against a Bank of Canada that remains reluctant to signal its next move. This article was written by Greg Michalowski at investinglive.com.

The USD is mixed but little changed to start the new trading day. In the video above, I focus on the three major currency pairs—EURUSD, USDJPY, and GBPUSD—from a technical perspective, highlighting the key levels that define the bias, risk, and potential targets for each pair, while explaining why those levels matter.EURUSD is trading higher on the day, supported by stronger-than-expected core CPI data and expectations for a June rate hike. The pair is up roughly 0.16% and has moved back above both its 200-hour moving average at 1.1630 and 100-hour moving average at 1.1638. Staying above those levels keeps buyers in control, although they still have work to do. On the topside, a swing area between 1.1655 and 1.1667 stands as the next hurdle. A break above that zone would put the focus on the 200-day moving average and broken 38.2% retracement at 1.16806, followed by the 100-day moving average at 1.16969. Conversely, a move back below the 100- and 200-hour moving averages would shift the bias back in favor of sellers, with yesterday's low near 1.1600 as the next target. Below that, traders would look toward a support area defined by swing lows between 1.1576 and 1.1586.GBPUSD is also higher by about 0.16% after finding support near the 50% retracement of the rally from the March low to the May high at 1.3408. Yesterday's decline saw sellers lean against the 100-day moving average at 1.34753, pushing the pair below the 100- and 200-hour moving averages and the 200-day moving average at 1.3420. However, the downside momentum stalled at the midpoint support level, allowing buyers to regain control. The pair has since moved back above the 100-hour moving average at 1.3440 and the 200-hour moving average at 1.3448, and is now testing the 100-day moving average at 1.34753. A sustained move above that level would strengthen the bullish case and open the door toward last week's high near 1.3518, the 61.8% retracement at 1.3522, and a swing high at 1.35317. On the downside, a move back below the 200- and 100-hour moving averages would be needed to tilt the bias back toward sellers, with the 200-day moving average at 1.3420 becoming the next downside target.USDJPY continues to grind higher and has now entered an important resistance zone between 159.71 and 159.96, effectively the 160.00 area. Traders will remember that both in late March and late April the pair pushed above this region. In April, intervention concerns intensified and helped trigger a sharp decline of roughly 1,000 pips over the following several trading days before buyers eventually regained control. Technically, buyers remain firmly in charge as long as the price stays above the 100-hour moving average at 159.455 and the 200-hour moving average at 159.264. A move below those levels would be needed to weaken the bullish bias. Until then, the path of least resistance remains higher. If the pair can extend above 160.00, intervention concerns may grow, but from a technical perspective the next upside targets remain the swing highs at 160.44 and 160.717. In other markets as the North American session kicks off:Crude oil is trading down $1.34 at $90.89. Gold is trading up $43 or $4527. Silver is trading up $1.46 at $76.28. US stocks are lower with the Dow down -190 points, NASDAQ down -16 points, and the S&P index down -15 points. US yields are lower with the 2--year down 3.5 basis points at 4.016%. 10 year is down -4.7 basis points at 4.429%, and the 30 year is down -4.2 basis points at 4.949%.Fed Hammack speaks at the bottom of the hour. He JOLTS job openings for April are expected at 6.880 million versus 6.866 million This article was written by Greg Michalowski at investinglive.com.

S&P 500 fails upper repair as sellers push price back toward lower valueLast updated: June 2, 2026, 03:28 AM ET (see new update below 'Key takeaways')Instrument: S&P 500 futures contractCurrent analytical score: -4 / +10Market state: Failed bullish repair / bearish control returning into lower-value testKey takeaways for today's S&P 500 tradersS&P 500 futures failed to sustain the upper repair attempt above the 7620-7632 area.Sellers regained short-term control after price rejected the upper-value zone and migrated back toward 7584-7578.The current tradeCompass map is bearish while ES remains below 7589.75-7594.00.A stronger bearish continuation signal appears if price accepts below 7578.50-7576.00.Bulls need to reclaim 7594-7596.60 to start repairing the failed upper auction.New update on recent price action: Score changed from -4 to -1The ES short-term score has improved from -4 to -1, meaning the earlier bearish control has weakened. Buyers stepped in near support, and the TradingView chart also shows that the rising support line has held for now.This does not mean a clean bullish takeover. It means the market has moved back into a more neutral trading-range condition, with a leg down followed by a leg up.The next key upside levels to watch are:7613.75 - important POC reference 7620.25 - value area high and major acceptance testIf price can push into that zone and sustain above it, buyers improve the repair case. If price reaches that area and rejects again, the range remains unresolved and sellers may regain pressure.Also keep yesterday’s VWAP near 7603 in focus. If ES sustains below 7603, bears regain greater short-term control.For now: support held, buyers repaired some damage, but this is still a trading range. Watch the reaction at 7603, 7613.75, and 7620.25.As previously reported 5 hours before the above update:Geopolitical shifts and central bank signaling are heavily impacting macro liquidity zones today, requiring absolute precision around key order-flow levels and microstructure setups. On the trade front, Eamonn Sheridan highlights that market sentiment is shifting as the White House trims tariffs on farm and industrial gear while tweaking its metals regime, a move that could alleviate near-term supply chain friction. Looking to Asia, Eamonn also warns that Japan's proposed 2027 sales tax cut introduces massive yen volatility and bond market risks as political timelines complicate the macroeconomic outlook. Over in the commodities complex, crude oil markets remain deeply on edge despite Trump's optimistic statements regarding a Hormuz deal because a persistent credibility gap is keeping buyers from sustaining a clean breakout above current resistance. Finally, tracking the Aussie dollar's microstructure is critical right now, as recent central bank analysis indicates that hawkish policy hints from the RBA's Harper could herald an imminent rate hike, giving macro traders a clear technical playbook to trade the breakout if standard deviation bands hold.ES futures short verdictS&P 500 futures are showing a failed bullish repair sequence after the market rejected the 7620-7632 upper zone and moved back into the lower-value area near 7584-7578.The short-term bias is bearish, but not aggressively bearish yet. Price is now testing important lower-value support, including the latest HVN near 7584, the session VAL near 7578.75, and lower VWAP deviation support around 7576.17. That means sellers have control, but they are now pressing into an area where responsive buyers may attempt a defense.The practical score is -4 / +10. That reflects bearish short-term control, while still respecting the possibility of a bounce from lower-value support.What happened in S&P 500 futures?The broader auction began with ES building value around the 7588-7600 region, then attempting to repair higher into the 7618-7632 zone.For a moment, bulls appeared to have a chance to create higher acceptance. But the key problem is that the upper expansion did not hold.The rejection from the 7620-7632 area changed the short-term story. Instead of holding the higher shelf, price rotated lower and accepted business started migrating down. That is important because in auction-market analysis, the location of accepted business can matter more than a temporary price spike.The sequence of HVN migration turned lower:This is not clean bullish rotation anymore. It is a failed repair attempt.Why the failed 7620-7632 zone mattersThe 7620-7632 area matters because it represented the market’s attempt to move into higher value. A simple price touch above resistance is not enough. Traders need to see acceptance.In this case, the opposite happened. ES pushed into the upper area, but sellers responded, and price failed to hold the zone. That makes the move look more like an upper liquidity grab or failed auction than a clean bullish breakout.What this means: a failed auction occurs when price moves into a higher or lower area but cannot attract enough acceptance to stay there. When price returns back into the prior range, traders often reassess who is really in control.ES futures tradeCompass mapThis tradeCompass map is designed as a decision framework, not a prediction that every level must be reached.How ES traders can use this map todayAs long as ES remains below 7589.75-7594.00, the short-term read stays bearish. That area includes the current reclaim zone around VWAP and the lower-to-mid value shelf. If price bounces into that zone but fails again, sellers may still have the cleaner tactical case.A stronger bearish continuation setup would require acceptance below 7578.50-7576.00. That would show that the lower value boundary and SD2 Down area are failing. If that happens, the next important support reference is around 7569-7570.For bulls, the first important task is not to chase a small bounce. Bulls need to reclaim 7594-7596.60 and hold above it. A stronger repair would also need better order-flow quality, higher HVN migration, and follow-through toward 7603-7605.Why the score is not more bearishA score of -6 or -7 would imply stronger downside acceptance or cleaner bearish expansion. That is not fully confirmed yet.The reason is location. ES is already trading near lower-value support. The latest push lower reached the 7578-7584 area, which includes multiple important references:7584.00 latest HVN / local accepted business7578.75 session VAL7576.17 SD2 Down7569-7570 major failed-breakdown supportAlso, the latest selling push was not an extreme liquidation bar. Sellers have control, but the move is now testing support rather than breaking into a clean air pocket.That is why the current read is bearish, but still balanced enough to allow for a responsive bounce.What would improve the bullish case?The bullish case improves if ES reclaims 7594-7596.60 and holds above it with better quality.A stronger bullish repair would ideally include:Price holding above 7594-7596.60HVN migration back above 7595No immediate rejection from VWAPBetter buyer defense on pullbacksFollow-through toward 7603-7605If that happens, the score can improve toward neutral, around -1 to +1, and possibly +2 if the repair becomes more convincing.Until then, any bounce from 7578-7584 should be treated as a repair attempt, not a confirmed bullish takeover.What would make the bearish case stronger?The bearish case strengthens if ES accepts below 7578.50-7576.00.That would mean the lower boundary of value is failing and sellers are pushing beyond the first major support zone. In that scenario, the next downside reference becomes 7569-7570.A clean hold below 7576 would likely shift the score closer to -5 or -6, especially if price fails to reclaim the lower-value area on a retest.Practical risk-management note for ES futures tradersThis is the type of market where traders should be careful about chasing late movement. ES already rejected the upper zone and already moved into lower-value support. That means late shorts near support can face sharp counter-rotation risk.The cleaner approach is scenario-based:If price bounces into 7589.75-7594.00 and fails, sellers may still have the better tactical case.If price accepts below 7578.50-7576.00, bearish continuation improves.If price reclaims 7594-7596.60, the failed-breakdown risk increases and shorts should be more cautious.This is the main benefit of a tradeCompass map. It gives traders a structured way to decide where the idea is active, where it weakens, and where it is invalidated.ES futures analysis conclusionS&P 500 futures are short-term bearish after a failed upper acceptance attempt.The market tried to repair higher into 7620-7632, but that zone was rejected. Accepted business then migrated lower, with HVNs stepping down toward 7584. That keeps sellers in control for now.The key question is whether 7578.50-7576.00 holds as lower-value support or breaks into a deeper bearish continuation move.For now, the practical read is:ES is bearish while below 7589.75-7594.00, stronger bearish below 7578.50-7576.00, and only starting to repair above 7594-7596.60.The current score is -4 / +10, with medium confidence.FAQ for S&P 500 traders todayWhat is the S&P 500 futures bias today?The short-term S&P 500 futures bias is bearish while price remains below 7589.75-7594.00.What level would confirm stronger bearish continuation in ES futures?A stronger bearish continuation signal appears if ES accepts below 7578.50-7576.00.What level would improve the bullish case for ES futures?The bullish case improves if ES reclaims and holds above 7594-7596.60.Why is the ES futures score only -4 and not more bearish?The score is only -4 / +10 because price is already testing lower-value support, so a responsive bounce remains possible.What is the most important ES futures support zone?The most important immediate support zone is 7578.50-7576.00, followed by 7569-7570 if that area fails. This article was written by Itai Levitan at investinglive.com.

For the last 12 days, the EURUSD has been trapped in a relatively tight range between 1.1576 and 1.1669. While buyers managed to push the pair above the topside boundary on Friday, reaching 1.1685, the breakout quickly failed. The price reversed lower into the close and finished back below the 1.1669 resistance level, reinforcing the importance of that ceiling.In the middle of the range sit the key hourly moving averages that have helped define the near-term battle between buyers and sellers. The 100-hour moving average at 1.1637 and the 200-hour moving average at 1.1629 are clustered with the 50% midpoint of the rally from the March low, making this area an important barometer for short-term direction. However, while the moving averages help gauge intraday bias, traders are likely more focused on the outer edges of the range, where a break could trigger a stronger directional move.A move below 1.1576 would represent a downside breakout, taking the pair to its lowest level since April 7 and pushing it below the 61.8% retracement of the rally from the March low. If sellers gain that control, there is relatively little technical support until the 1.1505 area, giving the downside room to extend.On the topside, resistance is more clearly defined. The 200-day moving average at 1.1681 and the 100-day moving average at 1.1697 sit just above the recent highs. Those longer-term moving averages tend to attract attention from risk-focused traders, and a sustained move above them would strengthen the bullish case and signal that buyers are regaining control.For now, the EURUSD remains near the middle of its recent range, with the battle centered around the hourly moving averages. However, with the pair still trading below both the 200-day and 100-day moving averages and below the recent swing-high area, sellers maintain a slight technical advantage. Buyers can begin to chip away at that edge by keeping the price above the 100-hour moving average at 1.1637 and then challenging the key resistance levels overhead. This article was written by Greg Michalowski at investinglive.com.

Although the NASDAQ is higher by roughly 100 points at the time of this recording, the performance beneath the surface is far from uniform. Some of the index’s largest heavyweight stocks are posting solid gains, while others are under pressure. In this video, I break down the technical picture for Nvidia, Amazon, Alphabet, Microsoft, and Meta using the same hourly chart framework, focusing on key moving averages and Fibonacci retracement levels. By applying a consistent technical approach, it becomes easier to identify the short-term bias, define the key risk levels, and highlight potential targets if momentum continues in the direction of the prevailing trend.Nvidia (NVDA) Nvidia shares are leading the group higher, up about 4.25% on the day. The rally has pushed the stock back above its 100-hour moving average at $220.46 while also increasing the distance from its rising 200-hour moving average at $212.89. The stock has reached a session high of $222.17, putting buyers firmly back in control in the short term. As long as the price remains above both moving averages, the technical bias stays tilted to the upside. The next major objective remains the all-time high reached last month near $436.54. A move back below the 100-hour moving average would weaken the bullish outlook and give sellers a foothold.Amazon (AMZN) Amazon is moving in the opposite direction, down 2.67%, or $7.24, at $263.32. The decline has pushed the stock back below both its 100-hour moving average at $266.64 and its nearly converged 200-hour moving average at $265.62. Those two averages now become the key barometer for short-term direction. If the price can reclaim and hold above that moving-average cluster, buyers would regain control. However, as long as the stock remains below those levels, sellers are likely to maintain the advantage with the next downside target coming near the May 19 low around $255.Alphabet (GOOGL) Alphabet shares are also under pressure, down roughly 1.27% at $375.60. Today's decline has taken the stock further away from its 100-hour moving average at $390.68, a level that repeatedly acted as resistance on May 20, May 21, May 27, and May 28. The stock has also slipped back below its 200-hour moving average at $378.68, shifting the short-term bias back to the downside after failing to sustain a break above those key technical levels. If the price remains below the 100- and 200-hour moving averages, sellers will likely target the 38.2% retracement of the rally from the March 31 low at $356.47. A move back above the 200-hour moving average would neutralize the bearish bias, while a break above the 100-hour moving average would be needed to restore a more bullish outlook.Microsoft (MSFT) Microsoft continues to show impressive upside momentum, gaining about 2.3% and extending its rally for a third consecutive trading day. The move higher began on Thursday when the stock broke decisively above a cluster of support and resistance levels, including the 100-day moving average at $413.53 and both the 100-hour and 200-hour moving averages near $419.30. Friday's advance carried the stock to the 38.2% retracement of the decline from the July 30 high at $433.10, where buyers successfully maintained control. Today's rally has pushed the price above the 50% retracement level at $456.64 and above the 200-day moving average at $458.16. With the stock currently trading around $460.60, buyers remain firmly in control. The key risk level now comes in at the 50% retracement level. A move back below $456.64 would weaken the bullish case and suggest that the upside momentum is beginning to fade.Meta (META) Meta is another large-cap stock under pressure today, with shares down 2.58% at $616.17. Like several of the other weaker NASDAQ names, the decline is threatening to tilt the short-term bias back to the downside. The stock has moved away from its 100-day moving average at $634.91, a level that capped the rally on Thursday after buyers briefly broke above it on Wednesday but failed to sustain the momentum. The price is also trading below its 200-hour moving average at $626.97, reinforcing the bearish tilt. Earlier today, Meta fell below its 100-hour moving average at $612.65 and reached a low of $609.03 before finding willing buyers. That rebound has pushed the stock back above the 100-hour moving average, leaving the price trading between the 100-hour and 200-hour moving averages in a more neutral zone. Traders will be watching the 100-hour moving average at $612.65 as a key support level. Staying above that level keeps buyers in the game, while a move back below would strengthen the sellers' case. On the topside, a move above the 200-hour moving average at $626.97 and then the 100-day moving average at $634.91 would be needed to shift the bias back in favor of the buyers and signal that bullish momentum is returning. This article was written by Greg Michalowski at investinglive.com.

As the USD moves higher after the news headlines that Iran was to stop exchanging messages with the US in protest against "Israeli crimes", has sent oil higher, yields higher, stocks lower and the USD higher. The USDCAD, AUDUSD and NZDUSD have been solid movers with the USDCAD the least impacted with a decline of -0.34%, but the AUD at -0.62% and the NZD at -1.20% are some of the biggest decliners on the day (vs the USD). USDCAD: The USDCAD has staged a solid technical rebound today, pushing back above a key cluster of moving averages that had previously acted as resistance. The pair has moved above its rising 200-hour moving average at 1.3801, the 200-day moving average at 1.3812, and the 100-hour moving average at 1.38155. The rally has extended to a high of 1.3849 so far, putting buyers firmly back in control in the near term.As long as the price remains above this moving-average cluster, the technical bias stays tilted to the upside. The next key target comes in a swing area that capped rallies in late March and early April between 1.3868 and 1.3877. A break above that zone would increase the bullish momentum and open the door for a deeper retracement of the broader decline. Conversely, a move back below the moving-average cluster would weaken the bullish outlook and give sellers a reason to reassert control.AUDUSD: The AUDUSD rallied strongly last week, climbing back above both its 200-hour and 100-hour moving averages, currently at 0.71515 and 0.71559 respectively. However, the advance stalled on Friday when buyers ran into a key swing area between 0.7194 and 0.7200. The inability to break through that resistance zone attracted sellers and led to a modest pullback into the close.In trading today, price action was choppy during the Asian-Pacific session, but momentum shifted decisively lower over the last few hours as the U.S. dollar strengthened on headline-driven buying. That move pushed the AUDUSD back below both the 100-hour and 200-hour moving averages, with the pair falling to a low of 0.7136 before rebounding slightly to trade near 0.7140.With the price now below both key moving averages, the near-term technical bias has shifted back in favor of the sellers. As long as the pair remains beneath those levels, downside risks remain elevated. The next target comes in a swing area between 0.7100 and 0.7113. A break below that support zone would increase the bearish bias further and put the May low at 0.70789 firmly in the sellers' sights.NZDUSD: The NZDUSD surged higher last week as risk-on sentiment fueled demand for commodity-linked currencies. From a technical perspective, the pair found support near the 50% midpoint of the trading range from the early-April low at 0.58334, then climbed back above its 100-hour and 200-hour moving averages before accelerating sharply higher on Thursday and Friday. The rally carried the price above the early-May high at 0.59899, reaching a new monthly high before consolidating near the peak into the weekend close.Today, however, the tone has shifted. The pair has trended lower from the start of trading, with downside momentum accelerating over the last few hours as the U.S. dollar strengthened. The decline has pushed the price below a key swing area between 0.5918 and 0.5928, turning that zone into near-term resistance. As long as the price remains below that area, sellers hold the short-term advantage.On the downside, the rising 100-hour moving average at 0.5914 has become an important battleground. The price briefly dipped below that level to a low of 0.5912, but buyers have emerged to defend the moving average and limit further losses. As a result, a short-term tug-of-war is developing between support at the 100-hour moving average and resistance in the 0.5918–0.5928 zone. While sellers have regained some control, it is worth noting that the current decline has so far only retraced back toward moving-average support levels that were reclaimed during last week's strong rally. A sustained break below the 100-hour moving average would be needed to strengthen the bearish case further. This article was written by Greg Michalowski at investinglive.com.

The USD has moved higher on the back of headlines that Iran will stop exchanging messages with US in protest against "Zionist crimes" largely in Lebanon. The price of oil has moved higher and moved toward the 200 hour MA at $93.76. Getting above that MA would be the first break since May 21 and increase the buyers control technically. Gold has turned lower and, in the process, has broken below both its 200-hour moving average at $4,508.45 and its 100-hour moving average at $4,488.80. Earlier in the session, buyers were able to defend the 100-hour MA, but the rebound ran into willing sellers near the 200-hour MA. That failure to sustain upside momentum helped pave the way for the subsequent break lower.With the price now trading beneath both key moving averages, the technical bias has shifted in favor of the sellers. The 100-hour and 200-hour MAs now serve as close resistance levels, and as long as the price remains below them, sellers maintain the near-term advantage. A move back above those levels would be needed to weaken the bearish outlook and give buyers a reason to regain control.US stocks are trading marginally lower after being higher in pre-market trading. The major indices are each down about -0.10% on the day. Dow -0.11%S&P -0.08%Nasdaq -0.12%Yields are higher with the 10 year yield back above the 4.50% level at 4.510% (up 5.7 basis points). The 2 year is comfortably above the 4.0% level with a gain of seven basis points at 4.084%. The 30 year is up 3.1 basis points and back above the 5% level at 5.024%The USD is higher and making technical tests/breaks to the upside. In the video above, I take a look at the EURUSD, USDJPY, GBPUSD and the USDCHF from a technical perspective an outline the bias, the targets, and the risk levels after the moves to the upside. This article was written by Greg Michalowski at investinglive.com.

The USD is higher but little changed vs most of the major currencies. It is trading above and below unchanged vs the GBP, and up vs the EUR and the JPY by about 0.13% to start the North American session.Over the weekend, the U.S. carried out "self-defense" strikes on Iranian radar and drone command-and-control sites, saying the action was a response to Iran shooting down an American MQ-1 drone. Iran retaliated with its own strikes, and large protests broke out in Tehran as demonstrators gathered at Revolution Square to condemn the U.S. and Israeli attacks. Kuwait also intercepted hostile missiles and drones as the violence rippled across the region.On the diplomatic side, peace negotiations remained stalled as President Trump sent back the draft ceasefire deal demanding tougher terms — specifically stronger language on Iran's nuclear commitments and the reopening of the Strait of Hormuz. This came just days after Trump had publicly declared the deal "largely finalized," and the reversal frustrated mediators and regional allies who had been pressing both sides to hold the line and avoid a return to full-scale combat.The EURUSD has seen a choppy, back-and-forth session after Friday’s bullish move above the 200-day moving average at 1.16808 and the broken 38.2% retracement level. Buyers have struggled to build on that breakout, leading to a pullback that has taken the pair back toward key near-term support. The low price today reached 1.1642, putting the focus on the 100-hour moving average at 1.16378 and the 200-hour moving average at 1.16287. Those moving averages represent the next important downside targets and a break below them would give sellers more control.On the topside, the pair faces a resistance zone between 1.16469 and 1.16669. Buyers need to push back above and stay above that area to regain momentum and shift the focus back toward Friday’s highs and the 200-day moving average. Until then, the EURUSD remains trapped between key support and resistance levels, with traders looking for the next catalyst to determine the next directional move.The technical story for the USDJPY is defined by support at the 100 hour MA at 159.355 and the 200 hour MA at 159.174. On Friday, sellers took the pair below both with a break of the 200 hour MA by a few pips, but like the EURUSD failure, the USDJPY also failed on the break. That MA (along with the 100 hour MA) remains a key support target. On the topside, the swing area between 159.70 and 159.96 are the next upside targets to get to and through to increase the bullish bias and have traders looking toward the May high (when concerns about interventions sent the pair tumbling to 155.00 area.The GBPUSD like the EURUSD, has seen up and down price action today (see chart below). ON the downside, the low reached 1.3446 and found support near the 100 and 200 hour MAs near 1.3439 to 1.3443. Those MAs and the 200 day MA at 1.34208 are key downside targets to get to and through to increase the selling bias. On the topside, the 100 day MA at 1.34749 remains a key target to get to and through. The high reached 1.3476 today - just above that MA, but backed off. Getting and staying above is more bullish. Staying below, and the bias is to the downside. The greenback is the strongest vs the NZD (although it is a holiday in New Zealand today and higher stock prices). The NZDUSD is down -0.56% on the day. Tee fall comes after stretching above the high from May at 0.58899 on Friday to the highest level since March 2 with a rise to 0.5993, but momentum failed and the price moved below the old high into the close of the week. Today, the price moved lower in the Asian session and has recently traded at the session lows as traders push back to the downside off of the failure. Looking at other markets, the US stocks are higher in pre-market trading with the:Dow up 235 pointsS&P up 24 pointsNasdaq is up 85 pointsIn the US debt market, the US yields are mixed with the shorter end up and the longer end (30 year) lower. 2 year trading above 4.00% at 4.0369% or 2.3 basis points10 year is trading at 4.461% up 0.8 basis points30 year trading at 4.981% down -0.11 basis points. Staying below the 5.00% level keeps the downside the bias in control The price of crude oil moved to a low of $86.35 on Friday, and bounced. Today the low has come in at $88.35 but is back above the $90 currently at $90.20. THe 100 hour MA is at $90.29 with the price trading above and below that MA target and bias defining level. Move above and stay above is more bullish but buyers are being tested by sellers near the MA level currently. Traders are awaiting the next shove. PS on the downside the 50% of the move up from the December 2025 low comes in at $87.29. Below that, and traders will start to eye the 100 day MA at $83.67. This article was written by Greg Michalowski at investinglive.com.

Nasdaq futures technical analysis: NQ repairs from lower-value damage, but bulls still need acceptance above 30536Key takeawaysSee updates below this 'Key Takeaways' sectionNQ JUN26 has repaired strongly from the May 28 lower-value damage, but the move is not yet a clean bullish takeover.The current prediction score is +2 / +10, with medium confidence.The key upside gate is 30500-30536. Bulls need acceptance above that zone to improve the probability of continuation.The latest Sunday evening recovery is constructive, but lighter ETH participation means traders should avoid overstating the bullish signal.A loss of 30334-30320 would weaken the repair and shift the next-auction risk back toward bearish mean reversion.Nasdaq futures update - 16:29 CEST, Monday, 1 June 2026The latest NQ JUN26 300 Range chart keeps the Nasdaq futures read in a neutral to mildly bearish tactical state, rather than a clean bullish reversal.NQ repaired from the 30,275-30,300 support area and moved back toward the current VWAP region near 30,403, but that repair is now testing a key decision zone. The market still needs to reclaim and hold above 30,403, then accept above 30,475, to improve the bullish case.Until that happens, the bounce should be treated as a repair attempt inside a still-fragile intraday auction, not a confirmed buyer takeover.Updated tradeCompass view:Prediction Score: -1 / +10Bullish upgrade above: 30,475Decision zone: 30,403-30,475Bearish warning below: 30,342-30,339Stronger bearish below: 30,275If NQ accepts above 30,475, upside targets are 30,541, then 30,608, with 30,650-30,675 possible if momentum expands.If NQ fails at VWAP and loses 30,342-30,339, the lower repair starts to weaken. A break below 30,275 would be a stronger bearish signal, opening the door toward 30,209, then 30,150, and potentially 30,075-30,000 if downside pressure accelerates.For now, the key message is simple: NQ has bounced, but it has not yet proven bullish acceptance. The next important test is whether buyers can hold above 30,403 and reclaim 30,475.Previously reported: Quick verdictNQ JUN26 has repaired meaningfully from the May 28 lower-value damage, but the latest sequence is still better described as bullish repair into congestion rather than a clean bullish takeover.The market is no longer in bearish control by default. However, bulls have not yet proven sustained acceptance above the 30500-30536 upper gate. That makes the current read neutral to mildly bullish, not aggressively bullish.Prediction Score: +2 / +10Confidence: MediumWhat is the current market state for NQ futures?The current market state is bullish repair with congestion overhead.That means price has recovered from the prior selloff, value has migrated higher, and buyers have regained some control. But the recovery is now testing an important congestion and rejection zone, where earlier upside attempts failed to produce clean continuation.This distinction matters. A repair phase can reduce bearish risk without automatically creating a high-confidence long setup. In this case, NQ has done enough to make aggressive shorts less attractive by default, but not enough to confirm a strong upside continuation phase.Why the May 28 damage still mattersThe broader sequence started with real downside pressure. NQ moved from the 30060 area down through 29950, 29888, and eventually toward the 29763-29813 lower zone.That decline was not just a visual pullback. It was supported by weaker auction behavior, negative delta, negative cumulative delta, and lower HVNs. In simple terms, the market accepted lower value before the later recovery started.That is important because it tells us the market was damaged first, then repaired later. The current bullish case is therefore not starting from clean strength. It is starting from a recovery attempt after prior weakness.How did the bullish repair develop?After price stabilized near the 29763-29813 area, NQ began to rotate higher. The repair became more meaningful as price reclaimed 30000, then 30100, then the 30200-30300 area.The most important constructive evidence was the upward migration in HVNs. Earlier high-volume nodes were clustered near the lower zones, but later auction activity shifted toward the 30300-30465 region.That matters because HVN migration helps show where the market is comfortable doing business. A quick price spike can be misleading, but when volume starts building at higher prices, it suggests the auction is accepting higher value.In this case, that higher-value repair is real. It is the main reason the bearish case is no longer dominant.Why is the 30500-30536 zone so important?The 30500-30536 area is the main unresolved upper gate.On May 29, NQ pushed into that zone and reached approximately 30536, but the market failed to sustain above it. After that upside attempt, price rotated back down into the broader 30300-30440 balance region.That is the main reason this article does not classify the chart as a clean bullish breakout.For a stronger bullish continuation signal, traders would want to see NQ accept above 30536, hold that area on a pullback, and keep HVNs migrating above roughly 30485-30500. Without that, the risk remains that the market is simply rotating inside an upper congestion band.What does the latest Sunday evening sequence show?The latest Sunday evening bars are constructive, but not decisive.Price recovered from roughly 30365.75 to 30436.25, then toward 30496.75. Delta improved from negative to positive, and the latest HVN shifted higher toward the 30465 area.That supports a mildly bullish read for the next auction. However, these are lower-participation ETH bars, not full RTH institutional confirmation. For that reason, the signal should be respected, but not overvalued.The best interpretation is that the latest ETH action repaired price back into the upper balance zone. It did not yet prove a full bullish takeover.NQ futures key levels to watchtradeCompass map for NQ futuresFor the next auction, I would treat NQ as mildly bullish above 30440-30465, but not strongly bullish until price accepts above 30536.Bullish scenarioThe bullish case improves if NQ accepts above 30536 and holds that area on a retest.If that happens, the path opens toward 30590-30625, followed by 30660-30700 if momentum expands.The better long setup is not necessarily to chase a late push into resistance. A cleaner setup would be a breakout above 30536, then a pullback that holds above the same zone or above 30485-30500 with stable order flow.Bearish scenarioThe bearish case becomes more relevant if NQ rejects the 30500-30536 zone and returns below 30400.The first major bearish confirmation comes on acceptance below 30334-30320. If that develops with negative delta, lower HVNs, and weak Delta SL, the market could rotate toward 30275-30260, then possibly 30226-30200.The key bearish idea is not simply that price is near resistance. The better bearish case requires failed acceptance above the upper gate, followed by downside confirmation back into the prior balance.What would upgrade the prediction score?The score can move from +2 toward +4 or +5 if NQ does the following:Accepts above 30500-30536.Holds that zone on a pullback.Keeps HVN migration above roughly 30485-30500.Shows positive or at least non-damaging Delta SL on the retest.Avoids immediate rejection back below 30440.That would turn the current repair into a more convincing bullish continuation setup.What would invalidate the current mildly bullish read?The current read would weaken if NQ loses 30400-30390 and fails to reclaim it.A stronger bearish shift would require acceptance below 30334-30320. That would suggest the latest ETH recovery was only a liquidity lift inside unresolved upper distribution.In that case, the score could move toward -2 to -3, especially if the move lower comes with negative delta, lower HVNs, and weak buyer response.Educational note: why repair is not the same as takeoverA common mistake in futures trading is to treat every recovery as a confirmed bullish breakout. But auction markets often move through phases.A repair means price has recovered from prior damage and reduced bearish pressure. A takeover means buyers have accepted higher value and forced sellers to defend from a weaker position.In this NQ setup, the market has clearly repaired. But the takeover still requires proof above 30536.That is why the score remains only +2 / +10. The chart is constructive, but not yet decisive.Bottom line for NQ futures tradersNQ JUN26 has repaired enough that aggressive shorts are no longer favored by default. However, bulls still need to prove acceptance above 30536 before this becomes a higher-confidence upside continuation setup.For now, the practical read is:Mildly bullish above 30440-30465, neutral inside 30390-30440, and bearish risk rising below 30334-30320.The most important test is whether the market can convert the 30500-30536 zone from resistance into accepted value. Until that happens, this remains a bullish repair into congestion, not a clean bullish takeover. This article was written by Itai Levitan at investinglive.com.

Crude oil is closing modestly higher by $0.20 at $88.90, but the final price does not reflect the volatility seen throughout the trading day. Prices traded as high as $92.52 before reversing sharply lower and eventually finding support near session lows at $87.11. That wide trading range highlights the uncertainty currently driving the oil market from the Middle East war with Iran with the last news being in favor of a Memorandum of Understanding. That sent the prices lower. From a technical perspective, today’s low was important. The decline briefly pushed below the 50% midpoint of the rally from the December 2025 low, which comes in at $87.29. Buyers stepped in near that level, helping the market stabilize after the downside break failed to attract sustained selling momentum. The ability to hold near that retracement level keeps an important support zone intact for now and gives buyers at least a near-term foothold.However, despite the bounce from the lows, the broader technical picture still favors the sellers. The rebound rally ran into resistance against the falling 100-hour moving average — the blue line on the chart above — where willing sellers leaned once again. That moving average has become an important barometer for short-term direction, and the inability to move back above it keeps downside risks in play.In addition, the price remains below both the 100-hour and 200-hour moving averages, while the overall chart structure continues to show a pattern of lower highs. At the same time, the market has failed to establish the type of higher-low pattern that would normally signal that buyers are starting to regain stronger control. Those technical factors collectively keep the bias tilted to the downside despite today’s recovery from the lows.For buyers to regain the upper hand, the market would need to push back above the 100-hour moving average and then extend above the falling 200-hour moving average, currently at $96.56 and moving lower. A move above those key technical levels would force traders to reassess the bearish bias and could trigger a stronger corrective rally. Until that happens, rallies are likely to continue attracting sellers looking to lean against resistance levels with defined risk.Crude oil is marginally higher but well off the highs for the day and below the $90 level. The high for the day extended to $92.52. The low was at $87.11. Session lows, leave prices tested the 50% midpoint of the move up from the December 2025 low. That level comes in at $87.29. Conversely, the high price stopped near the falling 100 hour moving average – keeping the sellers in control. The moving average comes in at $91.93 currently. This article was written by Greg Michalowski at investinglive.com.

The AUDUSD and NZDUSD are leading the move lower in the US dollar today as improving risk sentiment weighs on the greenback. Reports suggesting that the U.S. and Iran are nearing a memorandum of understanding on a cease-fire have helped push crude oil back lower, with WTI now down around $0.35 to $88.32. Treasury yields are also moving lower, with the 10-year yield down about 3 basis points to 4.451%. Meanwhile, U.S. equities are benefiting from the improved tone, with the NASDAQ up 0.72% and the Russell 2000 gaining 0.75%.Looking at the AUDUSD, the pair has now pushed back above both its 200-hour moving average at 0.71417 and its 100-hour moving average at 0.71508. The move higher has taken the price to a session high of 0.7169, with the pair currently trading near 0.7166. Earlier this week, the pair traded above those moving averages and reached highs near 0.7179 and 0.7182. Those levels are now the next upside targets for buyers ahead of a more important swing area between 0.7193 and 0.7200. Staying above the key moving averages keeps the buyers firmly in control in the short term.For the NZDUSD, the pair moved back above its 100- and 200-hour moving averages yesterday, but early Asian-Pacific trading saw a retest of those support levels. The low for the day reached 0.5865, right between the two moving averages at the time, before buyers stepped back in aggressively. Since then, the pair has surged to a high of 0.5935, testing the upper end of a swing area between 0.5918 and 0.59355. The battle now is whether buyers can push and sustain the price above 0.59355, which would open the door for a retest of the May highs between 0.5967 and 0.59899, or whether sellers lean against the resistance area and force the pair back below 0.5918, disappointing the late buyers in the process.In the video above, I go through the technical levels and market dynamics driving both currency pairs in greater detail. This article was written by Greg Michalowski at investinglive.com.

As a memorandum of understanding is said to be close but not done as Iran's supreme leader Khomenei and Pres. Trump have not approved, the markets are still hopeful. US stocks have moved higher led by the NASDAQ index which is up 0.52%. The S&P index is up 0.43%. The Dow industrial average is up seven points and also on pace for a record close for the day.Crude oil is up about $0.62 at $89.40, but while off the high price of $92.52.US yields have moved back into negative territory: 2 year yield -1 basis point of 4.022%.5-year yield -2.1 basis points at 4.159%. 10 year yield -2.2 basis points at 4.459% 30 year yield -2.0 basis points at 4.990%The benchmark levels of that need to be broken in and stay broken include 4.0% for the two year, 4.5% for the 10 year and 5.0% for the 30 year .Looking at the USD, the greenback has moved sharply to the downside:EURUSD: The EURUSD moved back above both the 200-hour moving average at 1.1623 and the 100-hour moving average at 1.1629, shifting the technical bias back to the upside. The break higher has helped push the pair back into a key swing area between 1.1655 and 1.1663 — a zone that previously acted as resistance.If buyers can extend above 1.1663, the next upside target comes in at the 200-day moving average near 1.1681. Staying above the hourly moving averages keeps the buyers more firmly in control, while a move back below those levels would weaken the bullish momentum.USDJPY: The USDJPY moved lower and tested the rising 100-hour moving average at 159.19, with the session low reaching 159.19. Also in focus is the 200-hour moving average, currently at 159.09. Buyers leaned against that key support level on Tuesday, helping to keep the broader bullish bias intact.For sellers to start gaining more control, the price needs to break below — and stay below — the 200-hour moving average. A sustained move under that level would shift the short-term bias more in favor of the downside and open the door toward the next support targets at 158.75 and 158.59.GBPUSD: GBPUSD buyers have regained control after pushing the price back above the 200-day moving average at 1.3420 and the 200-hour moving average at 1.3433. The momentum has now carried the pair up to the 100-hour moving average at 1.3453 — the next key technical hurdle.A move above the 100-hour moving average would increase the bullish bias further and have traders targeting the 100-day moving average at 1.3474. Earlier this week, buyers briefly pushed above that key daily moving average, but the breakout failed, leading to a rotation back below the major hourly and daily averages yesterday and earlier today.Now, traders are trying to flip the bias back to the upside once again, with the cluster of moving averages serving as key barometers for the next moveUSDCHF: The USDCHF is trying to navigate through a cluster of key moving averages after the rally stalled just short of the 50% retracement of the move down from the March 31 high to the May low. That midpoint level comes in at 0.7901, and today’s high reached 0.7899 — just two pips shy of the key technical target.The rejection from that retracement level has sent the pair back lower, with the price now falling below the 200-hour moving average at 0.7861 and the 100-hour moving average at 0.7849. However, sellers have so far stalled just ahead of the critical 100-day moving average at 0.7836, with the session low reaching 0.7842.If sellers are to take more control, they need to break below — and stay below — that 100-day moving average. Earlier this week, the pair dipped below the level, but sellers could not sustain the momentum. Buyers leaned against the MA on Tuesday, helping to base the pair and fuel the move higher yesterday and into early trading today. That makes the 100-day MA a key barometer for the next directional move. This article was written by Greg Michalowski at investinglive.com.

The USDCAD has moved lower after trading to its highest level since April 13. The pair peaked at 1.3869 on two separate occasions during the Asian and early European sessions, with the rally stalling right within a key swing area between 1.3868 and 1.3877. That area has attracted willing sellers and could prove to be an important ceiling after the month-long rally that has taken the pair from the May low at 1.35492 to today’s high at 1.3869.For sellers to take back more control, however, the price still needs to move below the rising 100-hour moving average at 1.3818. A break below that level would then have traders targeting a key cluster of support including the 200-day moving average at 1.3812 and the 61.8% retracement of the move down from the March high at 1.38068.If sellers can push below that support zone, the next key downside target comes in at the rising 200-hour moving average at 1.37887. Breaking below that level would increase the bearish bias and give sellers more technical control. Notably, the pair has not traded below the 200-hour moving average since May 7, when the price was near 1.3628, highlighting just how strong the uptrend has been over the last few weeks.So the battle lines are clear: sellers are leaning against topside resistance near 1.3870, but to shift the momentum more convincingly to the downside, they still need to force the price below the key support cluster between 1.38068 and 1.3818. This article was written by Greg Michalowski at investinglive.com.

As the North American session begins, the US dollar is mostly higher versus the major currency pairs (but off the highs). In the video above, I take a look at the three major currency pairs - the EURUSD, USDJPY and GBPUSD - from a technical perspective ahead of the PCE, durable goods, initial jobless claims all released at 8:30 AM . Core PCE for the month of April is expected at 3.3% YoY versus 3.2% last month. The MOM Core PCE is expected at 0.3%. Headline is expected at 0.5% MoM and 3.8% YoYInitial jobless claims are expected at 211K versus 209K last weekDurable goods orders are expected at 3.5% for April versus 0.8% last month. Ex transportation but that is 0.5% versus 0.9%. Nondefense capital expenditures Ex air is expected at 0.4% versus 3.4% preliminaryThe 2nd revision to the GDP for Q1 will also be released with expectation of 2.0% vs the 1st cut at 2.0%. To start the day US stocks are modestly lower with the Dow down -65 points.The S&P is down -12 points and the Nasdaq is down -110 points. Crude oil is trading up $2.90 as the Middle East War peace effort limb along with steps taken backward today. The overnight headlines suggests the Iran conflict remains highly unstable, with military tensions still elevated despite ongoing negotiations. Iran accused the U.S. of unauthorized naval movements, while Iranian state media said ships were stopped or turned back before recent U.S. attacks near Bandar Abbas. U.S. CENTCOM confirmed overnight Iranian ballistic missile attacks toward Kuwait and incidents near the Strait of Hormuz, while Kuwait said it retains the right to respond to protect its security. There were also reports of explosions and air defense activity in Kuwait tied to missile and drone threats.At the same time, broader regional risks remain elevated. Israel reportedly carried out targeted strikes in Beirut, while Iran’s leadership continued to emphasize national security and strategic priorities domestically. This article was written by Greg Michalowski at investinglive.com.

Nasdaq futures hold bullish structure, but cooling, as AI IPO frenzy of last week added another Wall Street risk-on narrative. Today we have a new "deal with Iran" narrative.Nasdaq futures remain structurally bullish, but NQ is now pressing into an important resistance zone near 30118-30159. The broader story is not only technical. A Financial Times front page highlighting possible SpaceX, OpenAI and Anthropic IPOs adds another layer to the AI-led Wall Street risk-on narrative, while traders still need confirmation above 30162 before chasing the next upside leg.Key takeaways for Nasdaq futures tradersNQ prediction score: +4 / +10, meaning the structure remains bullish but the entry location is no longer clean. But that score is still more representative of the longer term structure. The short term is flashing much lesser bullish tones (see prices to watch below)The main resistance zone is 30118.75-30159.25, with 30162.00 as the single actionable bullish breakout price.The first tactical support zone is 30040-30075, with 30058.00 as the key short-term defense price.A break below 29996.00 would confirm a tactical pullback risk toward 29938 / 29886.The AI mega-IPO narrative may support Nasdaq sentiment, but the chart still requires price acceptance above resistance.Why AI IPO headlines mattered for Nasdaq futures, even a week laterA Financial Times front page last Friday carried a striking headline: “SpaceX, OpenAI and Anthropic IPOs to trigger Wall Street trading frenzy.” The visible story points to Nasdaq rule changes, possible index inclusion, passive investor demand, and the possibility that major private AI and space names could eventually become public-market liquidity events.For Nasdaq traders, this matters because the NQ is already heavily influenced by mega-cap technology, AI infrastructure, semiconductor demand, and passive fund flows. If the market begins to price a new IPO cycle around AI and frontier technology, that can support the same psychological engine that has already helped push large-cap growth stocks higher.That does not mean traders should buy every breakout. It means the narrative backdrop remains supportive unless price action starts rejecting the AI-led risk-on story.This also connects with yesterday’s sharp semiconductor strength, where Micron was taking off, with shares up 20.8% yesterday and 86.0% vs a year ago. When memory stocks, AI infrastructure names, and Nasdaq futures all show strength together, the market is often telling traders that technology risk appetite remains active.What does the NQ chart say now?The multi-timeframe NQ read shows a bullish but extended market. Today's analysis at investingLive.com scores NQ at +4 / +10, with a bullish higher-timeframe structure but a tactical pullback risk near the highs. The key issue is location, not trend. NQ has pushed into the 30118-30159 upper gate, but the 30-minute structure has started cooling after the latest test of the highs.The daily chart remains constructive. NQ broke above the prior upper boundary near 30118.75 and extended to 30159.25. Price is still holding above the broader acceptance area around 29520-29782, as well as the daily EMA and basis levels referenced in the analysis. That keeps the higher-timeframe structure bullish.The 4-hour chart is also still bullish, but stretched. Repeated tests of 30118-30159 without clean expansion suggest the market needs either a confirmed breakout or a controlled pullback before the next higher-quality trade appears.The 30-minute chart is where tactical caution appears. After the move into 30159.25, several completed 30-minute bars began closing lower. That does not confirm a bearish reversal, but it does show that buyers are not yet expanding aggressively above the upper gate.Key Nasdaq futures levels to watchBullish scenario for NQThe bullish case improves if NQ can hold above 30058, reclaim 30118.75, and then sustain trade above 30159.25.The single actionable breakout price is 30162.00. Above that level, the score could improve from +4 / +10 toward +6 / +10, especially if price does not quickly fall back below 30118.If that happens, 30200 becomes the next psychological upside magnet.Bearish pullback scenario for NQThe tactical bearish scenario begins if NQ loses 30058, then breaks below 29996 and fails to reclaim the 30000 area.That would not necessarily end the higher-timeframe bullish structure. But it would tell us the market needs a deeper reset after the upper-zone test.In that case, traders should watch 29938, then 29886, then 29782.Macro and cross-market contextNasdaq futures are trading inside a broader macro tape where central banks, oil prices, and geopolitical headlines still matter.On the rates side, RBNZ Governor Breman said all policy setters agree on hikes but not on timing. That reinforces the idea that global monetary policy is still not fully in an easy-money phase, even while equity traders continue to reward AI and technology growth stories.On the commodities side, oil remains part of the risk equation. Oil slipped in Asia as Hormuz deal hopes offset renewed Iran hostilities, while a separate report noted that unconfirmed Al Jazeera headlines said a deal is done, with signing to come. Lower geopolitical pressure in energy can help risk appetite, but traders should still treat unconfirmed headlines carefully.What this means for Nasdaq futures tradersThe current NQ setup is bullish, but not an ideal chase.The AI IPO narrative may keep buyers interested. The Micron move yesterday supports the idea that semiconductor and AI-related risk appetite remains alive. But the chart is already pressing into an upper resistance zone, and the short-term structure has cooled.A cleaner long setup would come from either:A sustained breakout above 30162, orA controlled pullback that holds 30058 / 30000 and then reclaims 30118A tactical short setup becomes more interesting only if NQ loses 29996 and cannot repair back above 30000.Today’s NQ summary for tradersNasdaq futures remain in a bullish structure, helped by the broader AI and technology narrative. The prospect of future SpaceX, OpenAI and Anthropic IPOs adds another powerful Wall Street story to a market already shaped by AI enthusiasm.But from a trading standpoint, price still matters more than headlines.NQ needs acceptance above 30162 to confirm the next bullish leg. Until then, the better read is bullish but extended, with tactical pullback risk active below the 30118-30159 resistance zone.Educational note: This analysis is scenario-based and not financial advice. Trade NQ futures only with your own risk plan, stop policy, and position sizing. Join the free Telegram channel at investingLive.com stocks. This article was written by Itai Levitan at investinglive.com.

The price of Micron (MU) is up 20.8% TODAY. For the year the price is up 218%. That rivals some of the best years for Nvidia (238% ins 2023). Going back 12 months the price is up over 860% (from $96). That is extraordinary.Fundamentally speaking?Micron (MU) makes the “memory chips” that help AI computers remember information really fast. Without those memory chips, AI systems slow down badly — kind of like trying to do homework with a tiny desk and no notebook.In 2026, AI companies are building huge data centers filled with powerful AI computers. Those computers need enormous amounts of super-fast memory called HBM (high-bandwidth memory). Micron is one of the few companies in the world that can make enough of it. Here’s why the stock is soaring, in simple terms:AI needs tons of memory AI isn’t just about Nvidia chips. The AI chips also need Micron’s memory to work fast. There’s not enough supply Micron already sold out much of its HBM memory for 2026 because demand is so strong. When lots of people want something and there isn’t enough, prices go up. Micron is making way more money The company’s profits and revenue have exploded because these AI memory chips are expensive and in high demand. Wall Street thinks the boom could last years Analysts believe AI demand may stay strong through 2027 and 2028, so investors are rushing to buy the stock now. A simple way to think about it: Nvidia makes the “brains” for AI. Micron makes the “short-term memory.” Modern AI needs both to work together. So investors are realizing Micron is not just a regular chip company anymore — it has become one of the key companies powering the AI boom.Miron EarnningsThe earnings estimate for the next quarter is expected at $19.43. That is up from a year ago of $1.91. If they make near $20 for 4 quarters, that is $80 (no EPS growth). With the price at $900 that is a P/E of 11.X. That is not exactly a high multiple. What are the risks?Despite the storng storyline, there are plenty of risks. AI spending slows down Right now, companies are spending aggressively on AI data centers. If big tech companies slow spending, memory demand could cool quickly. Memory chip prices fall Memory is historically a very cyclical business. When too much supply hits the market, prices can collapse fast. What is scarce today can become oversupplied tomorrow. Competition ramps up Rivals like Samsung Electronics and SK Hynix are also investing heavily in HBM memory. More production could pressure margins. AI demand becomes “good, not great” Stocks often price in perfection. If growth slows from “explosive” to merely “strong,” investors may still sell the stock because expectations were too high. Economic slowdown or recession A weaker economy could reduce spending on PCs, phones, servers, and cloud infrastructure — all important for memory demand. China/geopolitical risks Semiconductor companies face export restrictions, tariffs, and geopolitical tensions. Losing access to key markets can hurt revenue growth. Technology shifts If AI hardware evolves in a way that uses less memory or different architectures, demand assumptions could change. Margins could peak During boom cycles, profits can look unbelievably strong. But semiconductor history shows margins often peak and then normalize. Execution risk Building advanced HBM memory is difficult. Manufacturing problems, delays, or lower yields could impact earnings. Valuation risk Even if earnings grow, the stock can still fall if investors decide the valuation got too expensive. A simple way to think about it:Right now the market is assuming: AI demand stays huge Memory prices stay high Supply stays tight Margins stay elevated If even one of those weakens, earnings expectations can come down quicklyWhat are the risks technically?No matter how strong the story is, traders always need a risk-defining level that would shift the bias from bullish to bearish. Without that level, you are trading hope, not a plan.Looking at the hourly chart, the price corrected lower last week and tested the rising 100-hour moving average. Sellers briefly pushed the price below that MA for one bar, but the break could not be sustained. Buyers leaned against the level, momentum turned back to the upside, and the stock has since surged roughly 38% over the last week.That reaction helped define what the market is focused on technically. As long as the price stays above the rising 100-hour MA, the bias remains bullish. A move back below it would suggest the momentum is fading and could shift the bias lower, at least in the short term.The 100-hour MA is currently near $738. With the stock trading around $900, that represents roughly a $165 decline, or about 18.3%. That is a sizable move, but high-momentum stocks can carry equally large risks and rewards.What softens the risk somewhat is that the moving average itself is rising. The MA at $738 now will likely be higher in an hour and higher still over the next 24 hours if the uptrend continues. That means the risk-defining level is not static. It rises with the trend and can both reduce downside exposure over time and provide traders with potential dip-buying opportunities at improved technical levels.So if the 100-hour MA is your line in the sand, the current level near $738 is the worst-case technical risk today — but that level continues to climb as long as the trend remains intact..How about a take profit level?Staying on the hourly chart, the price is currently testing the high channel trend line RIGHT at the current level. If traders want to pick a top, this is it. The caveat is "with a stop on a break above the level (give or take $10 -$20). Dont mess with a trend. So Micron is on a moon mission. Buckle up. A key target is being tested but it is hard to get in the way of a rocket ship. This article was written by Greg Michalowski at investinglive.com.

The AUDUSD pushed higher today, but the rally once again stalled near a key technical ceiling. The price tested the 50% retracement of the move down from the May high at 0.71774, and sellers leaned against that level to keep the upside capped. That area also lines up with prior swing highs, making it a natural resistance zone for traders looking for clues on the next directional move.On the downside, the 100 and 200 hour moving averages have converged near 0.7149, creating a key support and bias-defining level today and going forward. The pair traded around that zone during the European morning session, and buyers were able to defend it for now. As long as the price stays above the converged MAs, buyers remain in play with hopes of another run toward the 50% retracement resistance.If buyers can extend above 0.71774, the focus shifts toward the 61.8% retracement near 0.7200 and then the swing area closer to 0.7220. However, a break back below the converged 100/200 hour MAs at 0.7149 would tilt the bias back to the downside and have traders looking toward support near 0.7134 and then the 0.7100 to 0.7113 area.Key levels:Resistance: 0.71774, 0.7200, 0.7225 Support/Bias level: 0.7149 (100/200 hour MAs) Lower targets: 0.7134, 0.7100-0.7113 This article was written by Greg Michalowski at investinglive.com.

The USDJPY is stretching to new highs and in the process is moving above the high from last week at 159.337. The price just ticket to 159.35. Can the momentum higher continue. Earlier today, the pair moved back above its 100 hour MA at 159.008, and that shift helped tilt the bias back to the upside. Sellers had their shot below that MA at the start of the week, but the momentum could not be sustained. The inability to extend below the 200 hour MA at 158.875 kept the buyers in play and the break above the 100 hour MA gave them full control technically again. With the price now trading above last week’s high, traders are targeting the next key swing area between 159.70 and 159.96. That area was a ceiling for most of April and should attract sellers on the first test. If the buyers can push through that zone, the market opens the door for a run toward the 160.44 level and then 160.717 high from Aprill.The risk for buyers now comes from momentum fading above 159.337 and then the 100 hour MA at 159.008. Move back below those levels and the breakout starts to lose momentum. Stay above, and the buyers remain in control with the next upside targets in focus. This article was written by Greg Michalowski at investinglive.com.

The GBPUSD is back below its 100 day moving average at 1.34748 after briefly moving above the level yesterday and again earlier today. That inability to stay above the key barometer is giving sellers a little more confidence and shifting the focus back to the downside.The next downside target comes in at the 100 hour MA at 1.34522. Just below that is the lower end of a key swing area at 1.3446 — an area that has been tested multiple times over the last month (see red circles on the chart). That zone has consistently attracted buyers and sellers. If sellers are to take more control on a break below and stay below, the downside can be further explored once agains.Below that swing area, the 200 hour MA at 1.34212 becomes the next major target. A break below that MA would increase the bearish bias and have traders looking toward deeper retracement levels.For sellers, the risk is that today’s move back below the 100 day MA once again turns into another failed break lower. The pair has spent much of the last several sessions rotating around these moving averages without strong momentum extending toward the next upside target at 1.35318. If buyers can push the price back above the 100 day MA and hold it, the sellers could quickly lose control with traders then looking back toward the highs from yesterday (and earlier today) at 1.3507 before the 1.35318 level.The technical battle remains centered around the cluster of moving averages and the swing area support. The sellers have taken a small step lower, but they still need more downside momentum to fully seize control. This article was written by Greg Michalowski at investinglive.com.

The USDCHF pushed to a new session high today, but the rally is running into a key resistance zone overhead. At the same time, oil prices are moving higher on fresh geopolitical headlines, including reports that Israel has begun military operations in southern Lebanon. President Trump is also expected to hold a cabinet meeting at Camp David. Normally, cabinet meetings include press access, so the Camp David venue may suggest discussions are intended to remain more private. Crude oil is trading near $94 after reaching a high of $94.51.From a technical perspective, the USDCHF rallied to test the converging 100- and 200-hour moving averages at 0.7853 and 0.7857 respectively. The price reached 0.7858 before backing off slightly and currently trades near 0.7850. Earlier in the day, the pair moved back above its 100-day moving average at 0.7838 after falling below that level during yesterday’s dollar selling. Yesterday’s low stalled near the May 14 swing low at 0.7807, where buyers stepped back in.Today, after successfully retesting the broken 100-day MA, buyers pushed the pair back above that key barometer and have kept the price above it since. To tilt the bias back fully in favor of the sellers, the pair would need to move back below the 100-day MA at 0.7838. For now, however, the market is caught between support at the 100-day MA below and resistance at the 100- and 200-hour MAs above, keeping the bias more neutral as buyers and sellers battle for the next shove in momentum. A break below 0.7838 or above 0.7857 should help determine the next directional move. This article was written by Greg Michalowski at investinglive.com.

The USD is modestly higher to start the US session reversing some of the declines from the moves during the holiday session yesterday. Against the 3 major currencies - the EUR, JPY and GBP - the gains are moderate with a rise of 0.08% vs the EUR, 0.19% vs the JPY and 0.24% vs the GBP. The greenback is the strongest vs the NZD with a gain of 0.51%. Today, US bond markets are open after the hiatus from trading yesterday due to the Memorial Day holiday, and the yields are lower but the USD is not reacting with a move lower with perhaps some counter progress toward peace the cause of the apprehension. More specifically, the Iran-US negotiations remained alive, but Iran continued to send mixed signals that are making any peace agreement difficult (and the US may also be playing it's part).While negotiators are still discussing a temporary framework deal centered on a 60-day ceasefire, reopening the Strait of Hormuz, and possible sanctions relief, Iran simultaneously continued actions and demands that are undermining confidence in the talks.The biggest issue remains Iran’s refusal to fully give ground on its enriched uranium stockpile. Iran continues to insist that enriched uranium remain under Iranian control, while the US is demanding either destruction of the material or strict international oversight.Iran also tied broader regional demands into the talks, including linking any agreement to ceasefire conditions involving Lebanon and Hezbollah. At the same time, Hezbollah attacks and Israeli retaliatory strikes in Lebanon continued overnight, adding more instability to negotiations. Yesterday, Pres. Trump added another levels of complexity to the region by suggesting the middle eastern countries all come together under the Abraham Accord as well. The Abraham Accords are a series of agreements first signed in 2020 that normalized diplomatic relations between Israel and several Arab nations, including the United Arab Emirates, Bahrain, Morocco, and Sudan. The deals were brokered by the United States during President Trump’s first term. The accords were considered historic because they marked the first major normalization agreements between Israel and Arab states in decades. The goals included improving regional security cooperation, expanding trade and investment, increasing tourism, and creating a united front against threats from Iran.President Trump is now trying to expand the Abraham Accords further by encouraging additional countries like Saudi Arabia, Qatar, Pakistan, Turkey, Egypt, and Jordan to formally normalize relations with Israel as part of a broader Middle East peace framework. It may not be the time.Despite some positive overtures toward peace, military tensions also escalated again overnight. The US carried out additional “self-defense” strikes on Iranian missile sites and mine-laying vessels after alleged threats to shipping routes and US forces near the Strait of Hormuz. Iran then claimed it shot down a US drone and warned of retaliation for any further violations.So while diplomacy is still moving forward incrementally, Iran’s continued military activity, tougher negotiating demands, and links to Hezbollah are keeping markets cautious and preventing confidence that a final peace deal is close.This morning Pres. Trump posted "Peace through Strength". I am not sure this is going anywhere. US futures are trading higher with the Dow trading at record levels (up 325 points) in pre-market trading. The Nasdaq is up about 300 points from Friday's 26343 close putting it near the highest closing levels on record at 26635. The S&P is trading up 52 points which would put it near 7520 at the open and above the record high close at 7501 from last week;'s trading. Technically, looking at the 3 major currency pairs:The EURUSD traded above and below its falling 200 hour MA yesterday and is doing the same today. The high price today reachee in the European morning session, peaked right at the 50% midpoint of the move up from the end of March low at 1.1645. The price has diped toward the 200 hour MA at 1.16297 - trading at 1.16325 currently. Below the 100 hour MA at 1.16217 adds to the support needed to get below to give the sellers more control. The market is consolidating awaiting the next shove. The USDJPY is trading higher and has moved back above both the 100-hour MA at 158.99 and the natural resistance level at 159.00, giving buyers more control in early North American trading.At the start of trading on Monday, the pair dipped below the 100-hour MA, but sellers could not generate enough momentum to extend the move down toward the 200-hour MA at 158.85. That failure to push lower helped shift the bias back to the upside. The 200-hour MA still remains a key downside target and would need to be broken to increase the bearish bias in the pair.For now, however, the path of least resistance is higher, with last week’s high near 159.33 the next key upside target. Traders will continue to use the 100-hour MA near 158.99 as the close risk-defining level for both buyers and sellers.The GBPUSD is trading lower and has moved below its 100-day MA at 1.34748, shifting the bias more to the downside. The pair initially found support near the 38.2% retracement of the rally from the March low at 1.34669, and bounced modestly from that level. However, as the North American session gets underway, the price is once again testing that key support zone.For sellers to gain more control and increase the bearish tilt, they still need to push the price below the 100-hour MA at 1.34508. A break below that level would open the door for a move toward the more critical support cluster near the 200-day MA and 200-hour MA at 1.34218.On the topside, the broken 100-day MA at 1.34748 now becomes an important barometer. A move back above that level would help shift the bias back in favor of the buyers. This article was written by Greg Michalowski at investinglive.com.

The AUDUSD has moved sharply higher as improving risk sentiment and hopes for diplomatic progress in the Middle East have helped fuel broader risk-on flows across the currency market. Commodity-linked currencies like the Australian dollar have benefited from the shift in sentiment, with traders moving away from safe-haven positioning and back toward higher-growth and higher-beta assets.Technically, the pair spent time trading above and below its 200-hour moving average at 0.71608 earlier in the session, highlighting the importance of that level as a key barometer for both buyers and sellers. However, once buyers were able to firmly establish momentum above the 200-hour MA, the pair accelerated to the upside and moved comfortably away from the level. That break and hold above the 200-hour MA has shifted the near-term bias more firmly in favor of the buyers.As long as the price remains above the 200-hour MA, buyers remain in full control from a technical perspective. The next upside target comes in near a swing area between 0.71936 and the natural resistance at 0.7200. That area could attract some profit-taking and short-term seller interest initially. However, if momentum can continue and buyers push above that ceiling, traders would next look toward another key swing zone between 0.7221 and 0.7227.Beyond that, the market would start focusing on the highs from late April and May near 0.7277. A move toward those highs would further confirm the shift back toward a stronger bullish trend and likely require continued support from broader risk sentiment, stable equity markets, and softer US dollar flows.From a risk-management perspective, the move away from the 200-hour MA now makes that level an even more important technical pivot. Buyers leaning against the bullish move can use the 200-hour MA as a close risk-defining level. A move back below it would neutralize some of the bullish momentum and suggest the upside breakout is losing traction.If sellers are able to push the price below the 200-hour MA, traders would then turn their attention toward the rising 100-hour MA, currently near 0.7135. That moving average has been climbing steadily and represents another key support target. It would likely take a move below the 100-hour MA to tilt the near-term bias back in favor of the sellers and signal that the buyers are losing control of the broader short-term trend. This article was written by Greg Michalowski at investinglive.com.

Crude oil moved sharply lower today on hopes for a diplomatic solution to the conflict in Iran — or at least progress toward a framework for peace through a Memorandum of Agreement. The selloff pushed the price down to a low of $90.32, where buyers stepped in near an upward-sloping trend line connecting the late-February low to the April low. Holding support at that trend line gave dip buyers a clear risk-defining level to lean against, helping to slow the downside momentum.Since bottoming at $90.32, price action has stabilized and traded mostly between $90.32 and $92.71. Those levels are now the key near-term support and resistance barometers for traders. A break below $90.32 would increase the bearish bias and shift attention toward the May low at $88.66. A move below that level could open the door for a deeper corrective decline.On the topside, if buyers can push the price back above $92.71, traders may start to target Friday’s low at $94.73. A move back above that level would suggest the market is becoming less confident that a lasting diplomatic solution will be reached quickly. A swing area between $96.34 and $97.34 (see yellow area on the chart above). This article was written by Greg Michalowski at investinglive.com.