Gold price is showing positive signs above the $1,800 level. Crude oil price is struggling below $80 and might resume its decline.
Important Takeaways for Gold and Oil
· Gold price faced resistance near $1,832 and corrected lower against the US Dollar.
· There is a key bullish trend line forming with support near $1,808 on the hourly chart of gold.
· Crude...
ETHUSD: Double Bottom Pattern Above $1183
Ethereum was unable to sustain its bearish momentum and after touching a low of 1185 on 22nd Dec, the price started to correct upwards against the US dollar moving into a consolidation channel above the $1200 handle on 27th Dec.
The prices are ranging near the support of the channel in the 15-minute time frame...
EUR/USD is stable above the 1.0600 support zone. USD/JPY could gain bullish momentum if there is a clear move above the 135.00 resistance.
Important Takeaways for EUR/USD and USD/JPY
· The Euro started a downside correction from the 1.0670 resistance zone.
· There is a key bullish trend line forming with support near 1.0635 on the hourly chart of EUR/USD.
·...
BTCUSD: Three White Soldiers Pattern Above $16323
Bitcoin was unable to sustain its bearish momentum and after touching a low of $16387 on 20th Dec, the prices started to correct upwards against the US dollar and are now ranging above the $16500 handle in the European trading session.
We have seen a bullish opening of the markets this week.
We can clearly see...
GBP/USD started a downside correction from the 1.2400 zone. EUR/GBP climbed higher above the 0.8750 and 0.8780 resistance levels.
Important Takeaways for GBP/USD and EUR/GBP
· The British Pound started a fresh decline from the 1.2400 resistance against the US Dollar.
· There is a key bearish trend line forming with resistance near 1.2090 on the hourly chart...
AUD/USD declined below the 0.6750 and 0.6720 support levels. NZD/USD also declined towards 0.6230 and is currently attempting a recovery wave.
Important Takeaways for AUD/USD and NZD/USD
· The Aussie Dollar started a fresh decline from well above the 0.6800 level against the US Dollar.
· There was a break below a connecting bullish trend line with support...
ETHUSD: Bullish Harami Pattern Above $1152
Ethereum was unable to sustain its bearish momentum and after touching a low of 1152 on 20th Dec, the price started to correct upwards against the US dollar crossing the $1200 handle today in the European trading session.
We have seen a bullish opening of the markets this week.
We can clearly see a bullish harami...
Last week, some of the more adventurous analysts at the Tier 1 banks made the outlandish prediction that Gold may approach double the value that it is currently trading at during the course of 2023.
This may have appeared to be somewhat stratospheric and hard to imagine, however there certainly has been some volatility recently which is perhaps unusual for a...
EUR/USD is consolidating below the 1.0650 resistance zone. EUR/JPY declined heavily below 143.00 and is currently attempting a recovery wave.
Important Takeaways for EUR/USD and EUR/JPY
· The Euro started a downside correction from the 1.0735 resistance zone.
· There is a key contracting triangle forming with support near 1.0600 on the hourly chart.
·...
BTCUSD: Bullish Harami Pattern Above $16325
Bitcoin was unable to sustain its bullish momentum and after touching a high of $18360 on 14th Dec, the price started to decline against the US dollar coming down below the $16500 handle in the early Asian trading session today.
The price of bitcoin has since bounced back from its lows touching $16800 levels in the...
There has been a lot of volatility in the major currency markets recently, and the surprising strength of the US Dollar is perhaps part of the reason.
Whilst the United States While the United States economy languishes in a similar position to that of Europe, the dollar has somehow managed to maintain headway. It has been very strong throughout the course of the...
The FTSE 100 index , which is the index containing the 100 most prestigious companies on the London stock exchange plummeted to a one month low on Friday.
There has been some degree of volatility in that particular index during the course of the last 30 days, but overall it has been quite steady and fans back each day.
On Friday, December 16 however, it’s...
GBP/USD started a downside correction from the 1.2445 resistance. GBP/JPY declined and remains at a risk of more losses below the 165.25 zone.
Important Takeaways for GBP/USD and GBP/JPY
· The British Pound struggled to clear the 1.2445 resistance zone against the US Dollar.
· There was a break below a key bullish trend line with support near 1.2320 on the...
Gold price started a fresh decline below the $1,785 support zone. Crude oil price struggling near $78 and might correct gains in the near term.
Important Takeaways for Gold and Oil
· Gold price faced resistance near $1,825 and corrected lower against the US Dollar.
· There was a break below a key bullish trend line with support near $1,798 on the hourly chart...
ETHUSD: Three White Soldiers Pattern Above $1222
Ethereum was unable to sustain its bearish momentum and after touching a low of 1222 on 08th Dec, the price started to correct upwards against the US dollar moving into a consolidation channel above the $1250 handle today in the European trading session.
We can see the formation of a bullish doji star pattern in...
It is quite fascinating how perceived good news tends to have a positive effect on the value of a sovereign currency.
The British Pound, which spent most of the tail end of this summer plummeting into the depths of obscurity against the surprisingly strong US dollar, at one point reaching as low as 1.18 which was its lowest point in over 40 years, has been rising...
EUR/USD gained pace above the 1.0600 resistance zone. USD/CHF is declining and remains at a risk of more losses below the 0.9240 support.
Important Takeaways for EUR/USD and USD/CHF
· The Euro started a fresh increase above the 1.0550 resistance against the US Dollar.
· There was a break above a major contracting triangle with resistance near 1.0565 on the...
The weather across parts of Northern Europe and the United Kingdom this week has suddenly turned, and even areas which are ordinarily not associated with snowfall have been covered in a white blanket for a few days.
Travel disruptions at airports have taken place, and a minus figure has been displayed on temperature gauges since Monday.
Finally the real winter...
