Next week looks challenging for S&P 500 bulls. The price is stuck in a descending triangle pattern, and if it breaks below this week's low of 5,807, the market could trigger the pattern, suggesting a potential 3.8% drop to 5,596. However, staying above this week's low could allow for sideways movement or even a push higher. In the short term, the outlook remains...
The New Zealand Dollar (NZDUSD) is nearing its 2022 low of 0.5510, having dropped 809 pips from October’s high. While some traders see this as an oversold market ripe for buying, the overall outlook remains bearish as long as we trade below this week's high of 0.5692. Moreover, a large wedge pattern targets 0.53, suggesting further downside below the 2022 low....
Bitcoin bulls are under significant pressure today as the price tests the lower boundary of a 50-day range. Since November 21st, Bitcoin has formed a major head-and-shoulders pattern, indicating that a break below 91,281 could result in an 18% decline, bringing the price down to 74.16k. While such a drop would be significant, it seems unlikely given the broader...
With GBPUSD approaching its 2024 low of $1.2298, it might be tempting to buy the British Pound against the USD. However, buying solely because it's oversold is not a good reason to turn bullish.
Today's data, including ADP, job openings, and jobless claims, mostly exceeded expectations. While the ADP report slightly disappointed, the deviation was minimal. As a...
Yesterday, we highlighted the likelihood of EURUSD moving lower—and it did just that. Currently, the price appears short-term overbought, but if it climbs to around 1.0350 without breaking above 1.0438, traders are likely to short sell again. The targets remain 1.0294, followed by 1.0225, with support for this downside move looking relatively solid.
Backing this...
After 46 days of sideways trading, Bitcoin surged upward on January 6, breaking above the December 26 high—the right shoulder of a large head-and-shoulders pattern. This breakout signals a short-term bullish trend, with resistance levels at 104.74k and 107.7k.
A downside move seems unlikely, but if it happens, support is expected around 100k, with the bullish...
Some traders suggest a potential low in EURUSD just because the price is oversold, but without fundamental support and persistent bearish technical signals, it's premature to assume a bottom.
For a sustained upward move, the price would likely need to establish itself above 1.05 and maintain levels there before a meaningful push higher.
In the short term, the...
Bitcoin prices have dropped sharply over the past three days, making it a tough period for crypto and altcoin holders. At one point, ETH was down 24% from its December 16 high, while Litecoin saw a full 41% drop from its peak.
These sharp declines may encourage some buyers to take advantage of the massive pullback in altcoins, but watching Bitcoin's movements...
A little-known pattern called the Failed Inverse Head-and-Shoulders pattern was triggered in EUR/USD yesterday following the Fed's rate meeting. This pattern occurs when the price breaks below the right shoulder of the head-and-shoulders formation, reversing the original bullish pattern into a bearish one. In this case, the target is the difference between the...
The Fed's shift has shaken the market, ending the gold bulls' party. One of the main drivers behind gold's recent rise has been Federal Reserve rate cuts and signs of a slowing U.S. economy. However, the opposite trend is emerging, with the Fed likely pausing rate cuts now.
Further trade wars could begin as early as Q1 2025 under Trump, potentially driving...
In October 2024, USDCAD triggered a complex inverse head-and-shoulders pattern forming for 747 days. This pattern suggests a potential move of 777 pips to the upside, with the pair still roughly 375 pips away from the 1.4672 target.
In the short term, if the price dips but holds above last Thursday's low of 1.4130, buyers will likely step in and push the price...
The trend remains bullish above 21,920, and as the market approached the 20,000 mark this morning, buyers stepped in. The trend will remain upwards above 21,920, and the biggest concern now is that many traders are sitting on significant profits, and with the tax year nearing its end, they may need to close positions to cover taxes.
What’s your take? Will 21,920...
Buyers in the Dow Jones are likely frustrated given the recent gains in other stock indices, and as sellers are aggressively challenging the bullish uptrend, with the index nearly erasing all gains of its 5% rally off the November 19 low. As the price approaches a prior consolidation zone between 43,319 and 43,557, a reaction is likely, potentially forming a...
Litecoin is forming a rectangle pattern, indicating a potential $9 move depending on a bullish or bearish breakout. Given the overall bullish trend, a breakout to $124 is more likely to succeed than a breach to $115.17, as shown on the chart.
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other...
It will take a few more weeks for a proper pattern to form, but gold prices are carving out a rectangular pattern. The chart shows potential target levels following a breakout.
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market...
Watch XRP, the price has been stuck in a channel since December 3rd, but now, 10 days later, it is attempting to break out and is testing the upper boundary of the channel. The RSI has already broken its trendline, suggesting momentum is turning upwards. However, these channels are not the most reliable patterns. A breach to the 2.4850 high would increase the...
There's been minimal follow-through on USDCHF's bullish push this morning after the Swiss National Bank cut rates by 50 basis points instead of the expected 25.
The limited reaction is due to the SNB's preemptive approach. They are aggressively cutting rates because inflation is at 0.7%, and with the new rate at 0.5%, the real yield is effectively negative by 30...
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Crypto traders have plenty of reasons to be excited. The next few days could bring significant movements in BTC. A majority of the losses from the December 5 crash, which followed the previous all-time high, have already been recovered. Furthermore, the...
