ETHUSD: Rounding Bottom Pattern Above $2,700
Ethereum was unable to sustain its bullish momentum this week, and after touching a high of $3,036 on April 26th started to decline against the US dollar.
The bearish momentum has pulled down the prices of Ethereum below the $2,800 handle touching a low of $2,766 on April 26th.
The price has entered a consolidation...
Gold price is trading above a major support near $1,850. Similarly, crude oil price must stay above $94.30 to remain in a positive zone.
Important Takeaways for Gold and Oil
· Gold price started a downside correction from the $2,070 high against the US Dollar.
· There is a major bullish trend line forming with support near $1,830 on the daily chart of gold.
·...
UR/USD started a fresh decline from the 1.0750 resistance. EUR/JPY could extend downsides if there is a move below the 136.50 support.
Important Takeaways for EUR/USD and EUR/JPY
· The Euro failed to clear the 1.0750 resistance and started a fresh decline.
· There is a key bullish trend line forming with support near 1.0500 on the hourly chart.
· EUR/JPY...
ETHUSD: Bullish Engulfing Pattern above $2,750
Ethereum was moving in a bearish phase last week and touched a low of 2,725 on May 1st, after which it entered into a consolidation channel above the $2,750 handle.
This week, ETHUSD started moving in a bullish channel, and managed to cross the $2,900 handle in the European trading session today.
We can clearly see...
AUD/USD gained bearish momentum below the 0.7150 support zone. NZD/USD started a major decline after it faced sellers near 0.6565.
Important Takeaways for AUD/USD and NZD/USD
· The Aussie Dollar started a fresh decline after it struggled near 0.7265 against the US Dollar.
· There was a break below a major bullish trend line with support near 0.7160 on the hourly...
GBP/USD started a fresh decline from well above the 1.2650 level. EUR/GBP is rising and might attempt an upside break above the 0.8600 resistance zone.
Important Takeaways for GBP/USD and EUR/GBP
· The British Pound started a fresh decline from well above 1.2650 against the US Dollar.
· There is a key bearish trend line forming with resistance near 1.2335 on the...
BTCUSD: Rounding Bottom Pattern Above $29,700
Bitcoin was not able to sustain its bullish momentum last week, and after touching a high of $40,000 on May 4th, started to decline heavily against the US dollar.
The short-selling continued pushing the price of BTC below the $30,000 handle, after which we can observe some consolidation.
We can see a pullback in the...
EUR/USD is attempting an upside correction and facing resistance near 1.0550. USD/JPY might correct lower if it trades below 130.00.
Important Takeaways for EUR/USD and USD/JPY
· The Euro started an upside correction from the 1.0500 zone.
· There is a key bearish trend line forming with resistance near 1.0560 on the hourly chart of EUR/USD.
· USD/JPY extended...
Bitcoin is the most important cryptocurrency, and its price fluctuations influence the entire cryptocurrency market. When the price of bitcoin advances or declines, all other coins do the same.
In other words, the thousands of other coins literally depend on what bitcoin does.
So far this year, bitcoin has been under pressure: it opened the year around $50,000,...
ETHUSD: Double Top Pattern Below $2,450
Ethereum was unable to sustain its bullish momentum last week, and after touching a high of 2,960 on May 4, started to decline heavily against the US dollar.
We can see the continuation of the bearish momentum this week, and the decline continues pulling down the prices of Ethereum below the 1,900 handle in the European...
Gold price started a fresh decline from the $1,920 resistance. Crude oil price is rising and might gain pace above the $107 resistance.
Important Takeaways for Gold and Oil
· Gold price started a fresh decline from well above the $1,900 zone against the US Dollar.
· There is a key bearish trend line forming with resistance near $1,840 on the hourly chart of...
GBP/USD started a major decline below the 1.2300 support. USD/CAD is showing positive signs and gaining pace above the 1.2950 level.
Important Takeaways for GBP/USD and USD/CAD
· The British Pound started a fresh decline from the 1.2400 resistance zone.
· There was a break above a short-term bearish trend line with resistance near 1.2220 on the hourly chart of...
One of the big stories in the FX market in 2022 is the spectacular drop of the Japanese yen (JPY). Since March, it has depreciated against all its peers to reach the weakest levels vs. the US dollar since 2002.
Interestingly enough, the selloff comes when investors had all the reasons to buy the Japanese currency – not to sell it. Historically, the JPY acted as a...
BTCUSD: Bullish Harami Pattern Above $28,600
Bitcoin was not able to sustain its bullish momentum last week, and after touching a high of $31,437 on 16th May, started to decline heavily against the US dollar.
The short selling continued pushing down the price of BTC below the $30,000 handle, touching a low of $29,169 after which we can see some...
EUR/USD started a decent increase from the 1.0350 zone. USD/CHF is sliding and might extend losses below the 0.9900 support zone.
Important Takeaways for EUR/USD and USD/CHF
· The Euro started a recovery wave from the 1.0350 support zone against the US Dollar.
· There was a break above a major bearish trend line with resistance near 1.0515 on the hourly chart of...
AUD/USD traded higher but faced sellers near 0.7075. NZD/USD is correcting gains and approaching a key support zone near the 0.6350 level.
Important Takeaways for AUD/USD and NZD/USD
· The Aussie Dollar started a fresh increase from the 0.6850 support zone against the US Dollar.
· There is a key bullish trend line forming with support near 0.7000 on the hourly...
GBP/USD started a fresh increase above the 1.2400 resistance zone. GBP/JPY is consolidating and might rise steadily above the 160.50 resistance zone.
Important Takeaways for GBP/USD and GBP/JPY
· The British Pound started a fresh increase above the 1.2420 resistance against the US Dollar.
· There is a key bullish trend line forming with support near 1.2465 on...
The euro started the trading week on a higher note after the ECB President, Christine Lagarde, said that the central bank is ready to raise the rates during the summer. In a blog posted on the ECB’s website, Lagarde said that the lift-off date is drawing closer, and it is important for the markets to know the policy normalization path ahead.
Euro needed nothing...
