{"id":59518,"date":"2026-08-15T10:19:47","date_gmt":"2026-08-15T10:19:47","guid":{"rendered":"https:\/\/www.vtmarkets.com\/en-ca\/uncategorized\/markets-today-cable-tests-resistance-stock-market-rebound\/"},"modified":"2026-08-15T10:19:47","modified_gmt":"2026-08-15T10:19:47","slug":"markets-today-cable-tests-resistance-stock-market-rebound","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/markets-today-cable-tests-resistance-stock-market-rebound\/","title":{"rendered":"MARKETS TODAY: Cable tests resistance, stock market rebound"},"content":{"rendered":"\n<h2 class=\"wp-block-heading has-medium-font-size\">Key points<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>EUR\/USD tests resistance at 1.0790 with potential to reach 1.0810 or 1.0865.<\/li>\n\n\n\n<li>Stock market rebound led by Utilities and Consumer Staples, showing strong gains post-April.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\"\/>\n\n\n\n<p class=\"wp-block-paragraph\">After a rebound from the support level of 1.0725, the <a href=\"https:\/\/www.vtmarkets.com\/forex\/\" target=\"_blank\" rel=\"noopener\" title=\"EUR\/USD\">EUR\/USD<\/a> pair is now challenging resistance around 1.0790, where the 50-day and 200-day <a href=\"https:\/\/www.vtmarkets.com\/beginners\/lesson-7-what-are-the-key-forex-terminologies\/\" target=\"_blank\" rel=\"noopener\" title=\"Simple Moving Averages\">Simple Moving Averages<\/a> (SMAs) meet. <\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2024\/05\/shared-image-1024x511.png\" alt=\"Candle chart of Cable, or EURUSD, testing resistance at 1.07780 on the VT Markets trading app\" class=\"wp-image-13250\" style=\"width:1432px;height:auto\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em>SEE: The Cable tests resistance on the <a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\" target=\"_blank\" rel=\"noopener\" title=\"\">VT Markets trading app<\/a>.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This could extend to <a href=\"https:\/\/www.vtmarkets.com\/intermediate\/what-is-a-moving-average-and-how-to-calculate-it\/\" target=\"_blank\" rel=\"noopener\" title=\"trendline resistance\">trendline resistance<\/a> at 1.0810 and approach a significant Fibonacci level at 1.0865 if the upward momentum is sustained. Conversely, a reversal in price could see support retested at 1.0725, and failing that, a drop towards 1.0695 and potentially April\u2019s lows around 1.0600.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Moving on to the Ninja, USDJPY has stabilised above 155.00 following a robust rally. Looking forward, resistance lies at 158.00 and 160.00. If the price pulls back, support might be found at 154.65 with further possible declines to 153.15 and a critical zone between 152.30 and 152.00.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>You might be interested: <a href=\"https:\/\/www.vtmarkets.com\/analysis\/optimism-fuels-global-stocks-yen-weakness-persists\/\" target=\"_blank\" rel=\"noopener\" title=\"Optimism fuels global stocks, Yen weakness persists\">Optimism fuels global stocks, Yen weakness persists<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Next, following the <a href=\"https:\/\/www.reuters.com\/markets\/europe\/bank-england-moves-closer-first-rate-cut-since-2020-2024-05-09\/\" target=\"_blank\" rel=\"noopener\" title=\"Bank of England meeting\">Bank of England meeting<\/a>, the Cable experienced volatility, with the GBP\/USD  pair dropping then climbing to beyond the 1.2500 level. It now faces resistance near 1.2540, adjacent to the 200-day SMA, with potential to push into the 1.2600-1.2620 area. <\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">The Bank of England moved closer to reducing interest rates as it got support from a second official, while Governor Andrew Bailey hinted at the potential for further cuts beyond investors&#39; expectations <a href=\"https:\/\/t.co\/4GMr73DE7m\">https:\/\/t.co\/4GMr73DE7m<\/a> <a href=\"https:\/\/t.co\/kQOQxPCLjJ\">pic.twitter.com\/kQOQxPCLjJ<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/x.com\/Reuters\/status\/1788656434319954161?ref_src=twsrc%5Etfw\">May 9, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Downside risks persist, with initial support at 1.2500 and further at 1.2430. A failure to maintain these levels could see a descent towards the April low of approximately 1.2300.<\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\">Stock market insights for May<\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">After entering March at a significant valuation discount not seen since 2009, the Utilities Sector (XLU) saw a 26.7% increase in earnings this quarter, which has led to increased interest. The decrease in Treasury yields has likely amplified this interest, contributing to the sector\u2019s impressive performance.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Despite underperforming the S&amp;P 500 by almost 30% over the past year, the Consumer Staples Sector (XLP) sector has emerged as a <a href=\"https:\/\/finance.yahoo.com\/video\/utilities-stocks-rally-now-outperforming-142135054.html\" target=\"_blank\" rel=\"noopener\" title=\"viable buying opportunity\">viable buying opportunity<\/a> due to its defensive nature. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This has been particularly relevant in the recent economic climate, characterised by a weaker jobs report and manufacturing contraction in April.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Keith Lerner, Truist co-chief investment officer, notes that the strong performance of both the Utilities and Consumer Staples sectors can be attributed to a strategic rotation by investors into areas that had previously lagged amid recent market rallies. <\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Time to be bulled up on stocks? Here&#39;s why <a href=\"https:\/\/x.com\/wellsfargo?ref_src=twsrc%5Etfw\">@wellsfargo<\/a>&#39;s Chris Harvey and <a href=\"https:\/\/x.com\/truist?ref_src=twsrc%5Etfw\">@truist<\/a>&#39;s Keith Lerner think so: <a href=\"https:\/\/t.co\/ILiMJn3JzN\">pic.twitter.com\/ILiMJn3JzN<\/a><\/p>&mdash; CNBC&#39;s Closing Bell (@CNBCClosingBell) <a href=\"https:\/\/x.com\/CNBCClosingBell\/status\/1788288645541032250?ref_src=twsrc%5Etfw\">May 8, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">He also highlighted the cautious market sentiment, which favors more defensive investment positions in light of broader market fluctuations.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Economic drivers<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">As a whole, the economic landscape has shown signs of slowing down, as evidenced by a <a href=\"https:\/\/www.reuters.com\/markets\/us\/us-weekly-jobless-claims-increase-more-than-expected-2024-05-09\/\" target=\"_blank\" rel=\"noopener\" title=\"subdued jobs report\">subdued jobs report<\/a> and a contraction in the manufacturing sector this April. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Despite these challenges, there is growing optimism about potential increases in demand within the Utilities sector, spurred by expanding interest in artificial intelligence and electric vehicles.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Start trading now \u2014 click&nbsp;<\/strong><a href=\"https:\/\/www.vtmarkets.com\/get-trading\/forex-trading-account\/?utm_campaign=account_c&amp;utm_source=dma&amp;utm_medium=website\"><strong>here<\/strong><\/a><strong>&nbsp;to create your live VT Markets account.<\/strong><\/p>\n\r\n\n\n\n<p class=\"wp-block-paragraph\"><b>Start trading now \u2014 click <a href=\"https:\/\/www.vtmarkets.com\/en-ca\/trade-now\/\">here<\/a> to create your real VT Markets account.<\/b>\n\n<\/p>\n\n<!-- vt-src:16356 -->","protected":false},"excerpt":{"rendered":"<p>Key points After a rebound from the support level of 1.0725, the EUR\/USD pair is now challenging resistance around 1.0790, where the 50-day and 200-day Simple Moving Averages (SMAs) meet. SEE: The Cable tests resistance on the VT Markets trading app. This could extend to trendline resistance at 1.0810 and approach a significant Fibonacci level <a href=\"https:\/\/www.vtmarkets.com\/analysis\/markets-today-cable-tests-resistance-stock-market-rebound\/\" class=\"read-more\">Continue Reading<\/a><\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[],"class_list":["post-59518","post","type-post","status-publish","format-standard","hentry","category-analysis"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO Pro 5.0.1 - aioseo.com -->\n\t<meta name=\"description\" content=\"Key points After a rebound from the support level of 1.0725, the EUR\/USD pair is now challenging resistance around 1.0790, where the 50-day and 200-day Simple Moving Averages (SMAs) meet. 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SEE: The Cable tests resistance on the VT Markets trading app. This could extend to trendline resistance at 1.0810 and approach a significant Fibonacci level Continue Reading","inLanguage":"en-US","isPartOf":{"@id":"https:\/\/www.vtmarkets.com\/en-ca\/#website"},"breadcrumb":{"@id":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/markets-today-cable-tests-resistance-stock-market-rebound\/#breadcrumblist"},"author":{"@id":"https:\/\/www.vtmarkets.com\/en-ca\/author\/josephine\/#author"},"creator":{"@id":"https:\/\/www.vtmarkets.com\/en-ca\/author\/josephine\/#author"},"datePublished":"2026-08-15T10:19:47+00:00","dateModified":"2026-08-15T10:19:47+00:00"},{"@type":"WebSite","@id":"https:\/\/www.vtmarkets.com\/en-ca\/#website","url":"https:\/\/www.vtmarkets.com\/en-ca\/","name":"VT Markets","inLanguage":"en-US","publisher":{"@id":"https:\/\/www.vtmarkets.com\/en-ca\/#organization"}}]},"og:locale":"en_US","og:site_name":"VT Markets -","og:type":"article","og:title":"MARKETS TODAY: Cable tests resistance, stock market rebound - VT Markets","og:description":"Key points After a rebound from the support level of 1.0725, the EUR\/USD pair is now challenging resistance around 1.0790, where the 50-day and 200-day Simple Moving Averages (SMAs) meet. SEE: The Cable tests resistance on the VT Markets trading app. This could extend to trendline resistance at 1.0810 and approach a significant Fibonacci level Continue Reading","og:url":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/markets-today-cable-tests-resistance-stock-market-rebound\/","article:published_time":"2026-08-15T10:19:47+00:00","article:modified_time":"2026-08-15T10:19:47+00:00","article:publisher":"https:\/\/www.facebook.com\/vtmarketsglobal\/","twitter:card":"summary_large_image","twitter:site":"@vtmarketsglobal","twitter:title":"MARKETS TODAY: Cable tests resistance, stock market rebound - VT Markets","twitter:description":"Key points After a rebound from the support level of 1.0725, the EUR\/USD pair is now challenging resistance around 1.0790, where the 50-day and 200-day Simple Moving Averages (SMAs) meet. SEE: The Cable tests resistance on the VT Markets trading app. This could extend to trendline resistance at 1.0810 and approach a significant Fibonacci level Continue Reading","twitter:creator":"@vtmarketsglobal"},"aioseo_meta_data":{"post_id":"59518","title":null,"description":null,"keywords":null,"keyphrases":null,"canonical_url":null,"og_title":null,"og_description":null,"og_object_type":"default","og_image_type":"default","og_image_custom_url":null,"og_image_custom_fields":null,"og_custom_image_width":null,"og_custom_image_height":null,"og_video":null,"og_custom_url":null,"og_article_section":null,"og_article_tags":null,"twitter_use_og":false,"twitter_card":"default","twitter_image_type":"default","twitter_image_custom_url":null,"twitter_image_custom_fields":null,"twitter_title":null,"twitter_description":null,"schema_type":null,"schema_type_options":null,"pillar_content":false,"robots_default":true,"robots_noindex":false,"robots_noarchive":false,"robots_nosnippet":false,"robots_nofollow":false,"robots_noimageindex":false,"robots_noodp":false,"robots_notranslate":false,"robots_max_snippet":null,"robots_max_videopreview":null,"robots_max_imagepreview":"none","tabs":null,"priority":null,"frequency":null,"local_seo":null,"created":"2026-08-15 10:19:48","updated":"2026-08-15 10:19:48"},"aioseo_breadcrumb":"<div class=\"aioseo-breadcrumbs\"><span class=\"aioseo-breadcrumb\">\n\t<a href=\"https:\/\/www.vtmarkets.com\/en-ca\" title=\"Home\">Home<\/a>\n<\/span><span class=\"aioseo-breadcrumb-separator\">\u00bb<\/span><span class=\"aioseo-breadcrumb\">\n\t<a href=\"https:\/\/www.vtmarkets.com\/en-ca\/category\/analysis\/\" title=\"Today&apos;s Analysis\">Today's Analysis<\/a>\n<\/span><span class=\"aioseo-breadcrumb-separator\">\u00bb<\/span><span class=\"aioseo-breadcrumb\">\n\tMARKETS TODAY: Cable tests resistance, stock market rebound\n<\/span><\/div>","aioseo_breadcrumb_json":[{"label":"Home","link":"https:\/\/www.vtmarkets.com\/en-ca"},{"label":"Today's Analysis","link":"https:\/\/www.vtmarkets.com\/en-ca\/category\/analysis\/"},{"label":"MARKETS TODAY: Cable tests resistance, stock market rebound","link":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/markets-today-cable-tests-resistance-stock-market-rebound\/"}],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/59518","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/comments?post=59518"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/59518\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media?parent=59518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/categories?post=59518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/tags?post=59518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}