Tuesday, September 16, 2025
Click here to view the Economic Calendar
EUR/USD / EUR/JPY / GBP/USD / GBP/JPY / USD/JPY / USD/CAD / Crude Oil / Brent / Dow Jones / Gold
Market Comment
Market Wrap: Stocks, Bonds, Commodities

On Monday, U.S. stocks exhibited continued momentum, pushing both the S&P 500 (up 30 points or 0.47% to 6,615) and the Nasdaq 100 (up 201 points or 0.84% to 24,293) to record-high closing levels.

The Dow Jones Industrial Average gained 49 points (+0.11%) to 45,883.

Tesla (TSLA) jumped 3.56%, extending its rally to a fifth session. Elon Musk, chief executive of the electric-vehicle maker, disclosed recent purchases of the company’s shares worth about one billion dollars.

Alphabet (GOOGL) bounced 4.49% to a record close. The tech giant has become the fourth company, after Nvidia, Microsoft and Apple, to attain a market capitalization over 3 trillion dollars.

Coreweave (CRWV) rose 7.60%. The artificial-intelligence-related cloud infrastructure provider said it has obtained an order worth over 6 billion dollars from Nvidia to supply compute capacity.

Oracle (ORCL) added 3.41% on rumours that the software giant is acquiring social media platform TikTok.

Meanwhile, the U.S. 10-year Treasury yield slipped back to 4.038%.

In Europe, the DAX closed 0.21% higher, and the CAC was up 0.92%, while the FTSE 100 dipped 0.07%.

Gold price showed no fatigue on its recent rally, scoring a fresh all-time high of 3,686 dollars an ounce.

U.S. WTI crude futures rebounded a further 61 cents to 63.30 dollars a barrel.


Market Wrap: Forex

The U.S. dollar failed to strengthen, with the dollar index declining to 97.34.

While traders are fully pricing in a 25-basis-point interest-rate cut by the Federal Reserve on Wednesday, U.S. President Donald Trump called for Federal Reserve Chairman Jerome Powell to enact a "bigger cut" in a social media post.

EUR/USD rose 32 pips to 1.1765, and GBP/USD advanced 54 pips to 1.3610.

USD/JPY fell 27 pips to 147.39, and USD/CHF dropped 20 pips to 0.7943.

AUD/USD gained 24 pips to 0.6671.

USD/CAD retreated 69 pips to a 1-week low at 1.3770.

Bitcoin was yet to firmly secure the level of 116,000 dollars.


Morning Trading

In Asian trading hours, EUR/USD climbed to 1.1776 and GBP/USD was steady at 1.3611.

Meanwhile, USD/JPY dropped to 147.16.

Gold eased to 3,678 dollars.

Bitcoin was little changed at 115,340 dollars.


Expected Today

The eurozone's industrial production is estimated to grow 0.5% month-on-month in July.

Germany's ZEW economic sentiment index is anticipated to drop to 26.0 in September.

U.K. jobless rate for May-July period is expected to be steady at 4.7%.

In the U.S., retail sales are estimated to increase by 0.4% month-on-month in August, while industrial production is expected to be flat.

Canada's inflation rate is estimated to edge up to 1.8% year-on-year in August.
Forex Last %1D %YTD
EUR/USD 1.1808 0.41 14.05
USD/JPY 147.05 -0.24 -6.24
GBP/USD 1.3627 0.23 8.92
Commodities Last %1D %YTD
Gold 3,693.3500 0.40 40.76
Silver 42.6800 -0.07 47.83
Crude Oil 63.2800 -0.03 -11.76
EUR/USD intraday : the RSI is overbought Next
Our pivot point is at 1.1837.

Our preference: the upside prevails as long as 1.1837 is support

Alternative scenario: below 1.1837, expect 1.1805 and 1.1786.

Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.1835 and 1.1798).
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
EUR/JPY intraday : as long as 173.34 is support look for 174.26 Previous  | Next
Our pivot point is at 173.34.

Our preference: as long as 173.34 is support look for 174.26

Alternative scenario: below 173.34, expect 173.02 and 172.83.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 173.63 and 173.44).
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
GBP/USD intraday : as long as 1.3632 is support look for 1.3716 Previous  | Next
Our pivot point is at 1.3632.

Our preference: as long as 1.3632 is support look for 1.3716

Alternative scenario: below 1.3632, expect 1.3601 and 1.3582.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.3649 and 1.3627).
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
GBP/JPY intraday : as long as 200.63 is resistance look for 199.53 Previous  | Next
Our pivot point is at 200.63.

Our preference: as long as 200.63 is resistance look for 199.53

Alternative scenario: above 200.63, look for 200.98 and 201.20.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the price stands above its 20 period moving average (200.33) but below its 50 period moving average (200.39).
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
USD/JPY intraday : the RSI is oversold Previous  | Next
Our pivot point is at 146.72.

Our preference: the downside prevails as long as 146.72 is resistance

Alternative scenario: above 146.72, look for 147.15 and 147.41.

Comment: the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 146.72 and 147.01).
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
USD/CAD intraday : rebound towards 1.3789 Previous  | Next
Our pivot point is at 1.3728.

Our preference: rebound towards 1.3789

Alternative scenario: below 1.3728, expect 1.3707 and 1.3695.

Comment: the RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.3751 and 1.3764).
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
Crude Oil (WTI) (X5) Intraday: bullish bias above 63.50. Previous  | Next
Pivot: 63.50

Our preference: long positions above 63.50 with targets at 64.35 & 64.70 in extension.

Alternative scenario: below 63.50 look for further downside with 63.20 & 62.70 as targets.

Comment: the next resistances are at 64.35 and then at 64.70.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
Brent (ICE) (X5) Intraday: intraday support around 67.65. Previous  | Next
Pivot: 67.65

Our preference: long positions above 67.65 with targets at 68.55 & 69.00 in extension.

Alternative scenario: below 67.65 look for further downside with 67.00 & 66.70 as targets.

Comment: the next resistances are at 68.55 and then at 69.00.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
Dow Jones (CME) (Z5) Intraday: under pressure. Previous  | Next
Pivot: 46170.00

Our preference: short positions below 46170.00 with targets at 45960.00 & 45840.00 in extension.

Alternative scenario: above 46170.00 look for further upside with 46320.00 & 46410.00 as targets.

Comment: the break below the support at 46170.00 triggered a bearish acceleration to the support at 45960.00.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced
Gold Intraday: intraday support around 3675.00. Previous 
Pivot: 3675.00

Our preference: long positions above 3675.00 with targets at 3703.00 & 3715.00 in extension.

Alternative scenario: below 3675.00 look for further downside with 3667.00 & 3655.00 as targets.

Comment: the next resistances are at 3703.00 and then at 3715.00.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced

Disclaimer

TRADING CENTRAL is an independent third party research provider and the information provided should not be considered as trading advice. ICM Capital provides TRADING CENTRAL research to support clients in their trades and give them trading ideas, which should be independently evaluated. ICM Capital cannot be held liable for any information provided by TRADING CENTRAL.

ICM Capital Ltd is a company registered in England and Wales under registered number: 07101360.

ICM Capital Limited is authorised and regulated by the Financial Conduct Authority (FCA) regulatory number: 520965.

Registered address: New Broad Street House, 35 New Broad St, London EC2M 1NH, United Kingdom
TRADING CENTRAL Terms and conditions

The information provided does not constitute, in any way, a solicitation or inducement to buy or sell securities and similar products. Comments and analysis reflect the views of TRADING CENTRAL at any given time and are subject to change at any time. Moreover, they can not constitute a commitment or guarantee on the part of TRADING CENTRAL. The recipient acknowledges and agrees that by their very nature any investment in a financial instrument is of a random nature and therefore any such investment constitutes a risky investment for which the recipient is solely responsible. It is specified that the past performance of a financial product does not prejudge in any way their future performance. The foreign exchange market and financial derivatives such as futures, CFDs (Contracts for Difference), warrants, turbos or certificates involve a high degree of risk. They require a good level of financial knowledge and experience. TRADING CENTRAL recommends the consultation of a financial professional who would have a perfect knowledge of the financial and patrimonial situation of the recipient of this message and would be able to verify that the financial products mentioned are adapted to the said situation and the financial objectives pursued. TRADING CENTRAL recommends reading the "risk factors" section of the prospectus for any financial product mentioned.

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

TRADING CENTRAL is governed by the code of conduct of the association ANACOFI-CIF, association approved by the Financial Markets Authority and registered with ORIAS under number 17005458.

In the United States, TRADING CENTRAL AMERICAS, INC. is a Registered Investment Adviser (RIA) with the U.S. Securities and Exchange Commission (SEC) under IARD/CRD number 801-67210. Services are provided in the United States by TRADING Central Americas, Inc. TRADING Central will provide a copy of its most recent written disclosure statement without charge upon written request. Notwithstanding the foregoing paragraphs, nothing herein shall constitute a waiver or limitation of any U.S. person's rights under relevant U.S. federal or state laws.

In Asia, TRADING CENTRAL ASIA LTD has received a license (number AWI815) from the Hong Kong-based Securities and Futures Commission (SFC) to conduct “Type 4” and “Type 5” regulated activities (Advising on Securities and Futures).

TRADING CENTRAL recommends that you read the legal and regulatory information and warnings about the information provided by visiting the following link : terms_of_use_web_sites_en.pdf

Headquarters of the publisher : TRADING CENTRAL SA, 11 bis rue Scribe, 75009 Paris
RCS : PARIS B 423 512 607 VAT N° FR 174 235 12607
Click here to unsubscribe from this newsletter