We continue to look for a firm break above minor resistance at 70.44 confirming that wave 3 is unfolding towards at least 131.05 and likely much higher. Upon a break above minor resistance at 70.44, the first sub-target is seen at 76.64, but we expect much more upside as Litecoin is gaining bullish momentum. Support […]
We continue to look for a firm break above resistance at 1.0617, confirming that wave 2 has been completed and wave 3 towards at least 1.2085 is in progress. A firm break above minor resistance at 1.0617 will push the instrument up to 1.0805 as the first target, but as wave 3 is unfolding, much […]
With the appearance of deviation between Gold price movement wit RSI indicator on its 4 hour chart, then in the near future, Gold has the potential to appreciate stronger to the level 2008,92 as the main target and 2047,71 as the second target. But, if on the way to the targets that has been mentioned […]
If we look on the 4 hour chart of Nasdaq 100 index, there is the deviation between its price movement with CCI indicator as well as the apperance of Bullish 123 pattern which follow by the appearance of some of Ross Hook (RH), then this is signaled that in the near future #NDX has the […]
Early in the European session, gold is trading around 1,986.25, within a downtrend channel formed since October 30, above the 200 EMA, and above the 21SMA. Yesterday, gold reached a low of 1,969. From there, it is bouncing with an upward bias. In view of the fact that gold is above the key level of […]
The XAU/USD chart currently shows a neutral overall momentum, indicating a lack of a strong directional trend. In this scenario, the price is expected to fluctuate between the 1st support at 1974.67 (overlap support) and the 1st resistance at 1992.18 (overlap resistance). These levels are significant, with the support potentially attracting buyers at 1974.67 and […]
EUR/USD So, yesterday’s Federal Reserve meeting, including Fed Chair Jerome Powell’s press conference, turned out to be entirely neutral. However, neutrality confirms the central bank’s readiness for a softer stance. Markets did not initiate a false bearish move (as we expected) and have turned to play against the dollar. The euro fell just a few […]
GBP/USD At the end of Wednesday, the pound closed at the opening level due to the neutral outcome of the Federal Reserve meeting. The pound tried to test the target support level at 1.2070. Now, when the quote surpasses the October 31st peak at 1.2199, it will open up the target range of 1.2271/87. Afterward, […]
AUD/USD The Australian dollar has surged on the back of increased risk appetite and the Federal Reserve’s neutral stance. Yesterday, the S&P 500 closed the day with a 1.05% gain, and this morning the S&P/ASX200 is up by 1.27%. The yield on 5-year US government bonds fell from 4.84% to 4.63% yesterday. On the daily […]
Analysis of macroeconomic reports: There will be few macroeconomic events on Thursday, and none of them are crucial. might pay attention to the Manufacturing PMIs in the European Union and Germany, but these will be the final estimates, which usually do not differ significantly from the initial ones. Moreover, both PMIs are well below the […]
On Thursday, November 2, the Bank of England will hold its second-to-last meeting of the year. In the lead-up to this event, the GBP/USD pair has been behaving rather cautiously, with the price range narrowing to levels between 1.2100 and 1.2160. However, low volatility has been observed for the second consecutive week. Since October 25, […]
Analysis of Wednesday trades: GBP/USD 1H chart By the end of the third trading day of the week, the GBP/USD pair once again tested the crucial 1.2107 level. Interestingly, this level has been breached multiple times, yet each time, the price returns and settles above it. The pair has been unable to initiate a new […]
Analysis of Wednesday trades: EUR/USD 1H chart The EUR/USD currency pair continued to decline throughout Tuesday, although the specific reasons remain unclear. It should be noted that the pair has been undergoing a correction in recent weeks, albeit not consistently moving upward. However, when local peaks are updated, the movement is upward, albeit very weak. […]
Inaction can sometimes be an action, as aptly expressed by Christine Lagarde when explaining the ECB’s reluctance to raise rates in October. The Fed will find plenty of reasons to justify another pause in the cycle of monetary policy tightening. This includes progress in combating inflation, rising Treasury yields, which do the central bank’s job […]
During August, the EUR/USD pair has been trading in a narrow range between 1.0950 and 1.1050, waiting for a clear direction from the market sentiment and the economic data. Shortly after, the pair failed to maintain upside movement above the depicted uptrend. Instead, it was broken-down terminating the sideway movement. Shortly after, an upside pullback […]
The GBP/USD pair faced a strong resistance near 1.3200 and started a fresh downtrend. It broke the 1.2800 support level on a H4 candlestick and extended its decline towards 1.2500, where it met a crucial Fibonacci retracement level. This could be a good opportunity for intraday traders to go long, with a stop loss just […]
The EURUSD pair broke above the key level of 1.0550-1.0600 and continued its bullish trend towards 1.1000 and 1.1200. The bulls reached the resistance zone around 1.1200 but failed to sustain the momentum. Meanwhile, the bears pulled back the price towards 1.0950 where the pair met the short-term uptrend line. The price reversed from this […]
Apple stock battles with 200-day SMA ahead of Q3 earnings Dropped to its lowest since May before recouping some losses Oscillators improve but still in negative zone Apple’s share has been in a clear downtrend after recording a fresh all-time high in mid-July, dropping below its 200-day simple moving average (SMA) for the first time […]
Regarding the pound/dollar pair, the wave analysis remains fairly straightforward and clear. The construction of a new downward trend segment continues, with the first wave taking on a fairly extended form. In my view, the British currency has no grounds to resume an upward trend segment, so I do not even consider such a scenario. […]
The wave analysis of the 4-hour chart for the euro/dollar pair remains quite clear. Over the past year, we have seen only three wave structures that constantly alternate with each other. For the past few months, I have regularly mentioned that I expect the pair to approach the 1.2000 level, where the construction of the […]
Review of trades and trading tips for the British pound The test of the price at 1.2149 occurred when the MACD indicator was in the overbought zone, which clearly limited the further downside potential of the pair. For this reason, I did not buy the pound. The outcome will be determined during the FOMC meeting […]
Review of Trades and Trading Tips for the European Currency The test of the price at 1.0565 occurred when the MACD indicator was just starting to move down from the zero mark, confirming the right entry point for selling the euro. As a result, the pair fell by more than 25 points. In the second […]
In my morning forecast, I pointed out the level of 1.2161 and recommended making trading decisions based on it. Let’s take a look at the 5-minute chart and analyze what happened there. The rise and the formation of a false breakout at this level resulted in an excellent entry point for short positions, causing the […]
Early in the American session, the Japanese yen (USD/JPY) is trading around 151.15, below the 21 SMA, and below +1/8 Murray. Yesterday during the American session, it reached a high at about 151.70. Since then, we’ve been watching a technical correction to last for a few days until the price reaches the 200 EMA located […]
In my morning forecast, I drew attention to the level of 1.0580 and recommended making entry decisions based on it. Let’s take a look at the 5-minute chart and analyze what happened there. There was an upward movement, but it did not reach the level of 1.0580 due to a false breakout, as it fell […]
Orange rectangles- similar pattern expected Green rectangles- overbought levels Red line- support trend line Blue lines- Fibonacci retracement levels Black lines- expected price path Bitcoin is trading just below the $35,000 price level. Short-term trend remains bullish. The RSI is at overbought levels as we mentioned in a previous analysis. If we follow a similar […]
USDJPY is trading around 151.30. Daily trend according to the Ichimoku cloud indicator remains bullish. After a couple high volatility days where price challenged the kijun-sen (yellow line indicator), USDJPY is still in a bullish trend well above the Daily Kumo (cloud). Initially USDJPY provided us with a sign of weakness when price pulled back […]
USDCHF edges lower today after a strong upleg July 27 ascending trendline acts as resistance at this stage Momentum indicators point to weakening bullish pressure USDCHF is edging lower today after nine consecutive green candles. A similar move took place during September and pushed USDCHF to a 6-month high of 0.9243. The July 27 ascending […]
BTCUSD surged above 35,000 to its highest since May 2022 Has been flat since then, forming a pennant pattern Momentum indicators remain within overbought territories BTCUSD (Bitcoin) has experienced a massive rally driven by speculation around the approval of spot-Bitcoin ETFs, which sent the price to a fresh 18-month high of 35,187. However, the leading cryptocurrency has […]
Yellow line- bearish RSI divergence Blue lines- Fibonacci retracement levels Gold price is trading around $1,983. Short-term trend remains bullish as price continues making higher lows and higher highs. Price is still trading above the key short-term support by the 23.6% Fibonacci retracement. A break below the 23.6% Fibonacci retracement combined with the bearish RSI […]
