Tensions in the Middle East continue to escalate, and Brent crude oil prices appear to be forming an inverse head and shoulders pattern. For this bullish pattern to activate, the price needs to break above $81.69. If this level is breached, the pattern suggests a potential 4.69% gain, with prices possibly reaching $85.54. However, it's still early to determine the...
EUR/USD is currently up ahead of the Non-Farm Payrolls report. However, as long as the price stays below 1.0850, the bearish trend is expected to continue. The price is anticipated to form a lower high between 1.0823 and 1.0850, with a subsequent move down to around 1.0781, the lows seen earlier this week.
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The Spanish Stock Market Index is facing significant pressure as Euro area inflation rose higher than expected. July's inflation figures showed a 2.6% annual increase, slightly above the previous month's 2.5%, matching May 2024's level. Despite the rise in inflation, the unemployment rate has only marginally increased from 6.4% to 6.5%, still holding multi-year...
SPX is forming a potential double bottom pattern as it approaches the neckline after a half-month retracement. What are the chances of a breakout?
Since November 2023, the SPX has been on an uptrend. Despite interest rates remaining high at 5.5%, the excitement surrounding AI and tech stocks has kept the market buoyant. However, recent days have seen a market...
Current Situation:
The USDCHF is exhibiting a downtrend on the hourly chart. Recently, the pair has rebounded and is now approaching a critical area where the downtrend trendline intersects with the resistance level at 0.88800. This confluence of resistance factors could present a strong selling force, potentially halting the current rebound.
Technical...
"Since the 18th of July, NZDUSD has dropped for 6 consecutive days. This is due to the increased expectations of a rate cut by RBNZ in the upcoming meeting (14th of August). What should we expect as the NZDUSD is approaching the 0.58600 support zone?
1. Current Situation
Fundamental Analysis:
- Expectations of interest rate cuts in August by RBNZ are rising...
The USD/JPY pair is currently at significant support levels, mainly due to intervention by the Japanese Central Bank. The critical support level to watch is 154.47, the low from June 4th. If the price remains above this level, it could push towards 158.81 and 160.30.
On July 31st, the Bank of Japan will host another rate meeting. They are expected to introduce...
The breakout from the 372-day-old triangle pattern mentioned last week has failed, with the price now back below the downward-pointing trend line. As the price is within the pattern, it might seek to reach the opposite side, at 1.0691.
Yet a more realistic game plan and potential targets for bearish traders include the July 9th low of 1.0809. The trend will...
Polkadot (DOT) is waiting to catch up as Bitcoin, Ethereum, Solana, and Dogecoin soar. While some older coins have yet to make major moves, they've formed interesting patterns. DOT is one of those and has developed an inverse head and shoulders pattern over the last 36 days.
A breach to $6.50 could push the price as high as $8.11, a 24.6% increase. It's too...
Gold prices are entering a parabolic move following a breakout from a triangle pattern formed throughout most of May. We are also nearing the target of $2537, a level identified from a major inverse head and shoulders pattern reported on the ThinkMarket website in December and February.
In the short term, traders are likely to wait for a 50% correction of the...
The FT100 has formed a descending triangle over the past 53 days, with 14 showing the price settling into a small rectangle pattern. The rectangle pattern is my favourite setup, and both patterns are equally significant, making managing entries and stops easy.
A break below 8,110 suggests the stock could drop by 2.6% to 7,899, while a break above 8,284, the upper...
The Australian Stock Market Index ended last week with a powerful breakout from a 107-day-old triangle pattern. Despite corrections this pattern remains valid as long as the index stays above the breakout candle low of 7795. Between 7902 and 7795, traders are likely to seek buying opportunities on dips, aiming for the pattern target of 8197.
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The French Stock Market Index is currently trading sideways between 7457 and 7750, forming a rectangle pattern, a reliable chart pattern for traders. A break above the upper limit at 7750 suggests a potential price increase of about 3.73%, reaching 8042. This target is calculated by taking the difference between the rectangle's minimum and high points. Conversely,...
The EURUSD has just left a 179-day-old triangle pattern. Technically, it broke out on July 16th, but today, we saw the first significant move to the upside. This move is primarily driven by a sharp drop in the dollar-Japanese yen pair, as the Japanese central bank is suspected of intervening in the markets to prop up the yen.
The triangle breakout suggests we...
Bitcoin prices are currently stuck in a rectangle pattern. A break below $66,000 could potentially send prices down to $60,000, a drop of 9%. Conversely, a break above $72,000 could lift prices towards $77,970 per coin.
Recent trends show a stronger dollar, particularly against the Euro and British pound. If this strength continues, it could negatively impact...
Last week, USD/JPY spiked higher after a disappointing Bank of Japan (BoJ) rate meeting and today, the price has again broken above resistance. The chart reveals a smaller ascending triangle pattern with a target of 159.80, which remains valid as long as the price trades above 157.14. Will a push higher wake up Bo(J)zilla?
Why is the USD/JPY Rising?
The BoJ's...
Apple's share price rose sharply on June 11th following its annual developer event, where new artificial intelligence features were unveiled. This pushed the price up to $220 per share. Although the price has since retraced some of these gains, it found support at the 50% retracement level of the move from $192 to $222.
The price also breached the key $197.85...
Fear is spreading, and while uncertainty is problematic, the most likely scenario involves a hung French parliament leading to less aggressive fiscal spending, as the EU will likely step in and impose sanctions on France. Additionally, the market is already offloading French government bonds, and France could face the market's wrath, similar to the UK during Liz...
