The Nasdaq 100 is up 1.25% at the time of publishing this outlook, and the price is just 84 basis points away from reaching the target we highlighted at the beginning of the month. At that time, we noted that a break above $21,220 could lift the index to $21,884. The new trend-defining level is yesterday's low of $21,354, and if the price dips toward $21,565,...
The U.S. consumer price figures were not enough to trigger a slide in EURUSD, nor did they lead to a rebound. Instead, the market is trading sideways as we await tomorrow's ECB rate meeting. The ECB is expected to cut rates, with the possibility of signaling a 50-basis-point cut in upcoming meetings due to weak economic growth and inflation at target.
From a...
The new head of the SEC, Paul Atkins, with a background in a digital asset think tank, has sparked excitement about the future of crypto. However, as we've seen in recent days, profit-taking has been significant. Solana is down roughly 22% from its all-time high, and the price is now testing the highs from March and the lows from November. This key area spans from...
Bitcoin prices pushed above the $100K mark, sparking euphoria across the world. However, that excitement quickly turned into despair as the euphoria marked a local top in prices. Yesterday, significant gains in altcoins were wiped out.
The reason is simple: the returns in altcoins have been phenomenal, and investors are eager to book profits. Additionally,...
AVAX hit our target of $53.61 on Tuesday, and the price is once again attempting to form a head and shoulders pattern, suggesting a potential move lower. However, given the overall bullish market conditions, it’s too early to turn bearish or short.
With that in mind, as long as the price stays above $47.61, which is Tuesday’s low, the upward trend is expected to...
Solana has broken out of the wedge pattern that has dominated its price movement since November 22nd, as it attempts to catch up with Ethereum and Bitcoin. The price pattern will remain valid as long as it trades outside the wedge, particularly above the $235.70 level.
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The Nasdaq 100 moved higher as expected. The price has now formed a possible double top with a neckline at 21,200 and a target of 21,884. The pattern might morph into an ascending triangle, which would favor the bulls.
Tactically, traders have a few options for betting on the trend and a potential Christmas rally. One option is to wait for a decline to the...
EURUSD has been forming an inverse head and shoulders since November 14. However, it’s too early to assume prices will head higher, especially given the fundamentals, which all favor the downside. Coupled with yesterday’s slide, this suggests prices could move lower as long as they remain below 1.0550. The next support levels are 1.0465, followed by 1.0425. What’s...
Last week, we highlighted a small triangle pattern that triggered, but the price retraced to the entry level. Examining today’s price action and focusing on price points from November 22nd, an inverse head-and-shoulders pattern appears to be forming. This suggests that a break above $98,265 could lead to a rally toward $106,646 per coin. Alternatively, it might be...
Gold prices are trading within a triangle, which itself is nested inside a larger triangle. Predicting the next move is, therefore, tough. Yet, the fundamentals are clearer and not in gold's favour. On one side, Trump is attempting to broker peace between Ukraine and Russia, and on the other, potential tariffs from the new Trump administration are boosting the...
Brent crude oil prices are stuck in a large descending triangle, with a breach to $70.31, the lows from October and September, suggesting a decline to $64.27 per barrel, representing a potential slide of 8.47%. However, if the price breaks above the trendline side of the pattern and surpasses the November 25 high of $74.83, it could rise to $79.91.
This...
GBPJPY remains in a strong downtrend but is approaching daily support levels, making caution essential. The risk-to-reward ratio favors a downside move between 191.75 and 192.63. If the price turns lower from these levels, a retest of the low 190.46 would be a reasonable expectation. However, a push above 192.63 could signal the start of a reversal.
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AVAX reached the target we highlighted a couple of days ago, and the price has now formed a bearish head and shoulders pattern. This pattern suggests that if the price drops below $38 per coin, AVAX could head substantially lower. However, with the fundamentals and trend being bullish, it seems unlikely that that will happen at this time. Instead, we trust the...
Bitcoin most likely bottomed out yesterday, following a 9% correction from its all-time high. However, the price is stuck in a triangle pattern in the short term. There are three exciting scenarios to watch.
If the short-term trend observed yesterday holds, the price could bottom out in the 92k and 94k range.
The alternative, and perhaps a safer setup to some...
EURUSD is currently correcting against the overall downtrend. However, a break below 1.0455 without reaching 1.0475 is likely to signal a resumption of the bearish trend, potentially driving the price toward the Friday afternoon low of 1.0392.
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Ethereum prices have been trading sideways since November 21 but remain in an overall uptrend. The current stall is due to the price struggling to break the July 2024 high of $3,564. Traders who are not already long will likely wait for a corrective move to the $3,238–$3,342 range to improve their risk-to-reward ratio.
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The USDJPY remains firmly bullish above 153.08. As long as the price stays above this level, it may reach 155.50, followed by 156.
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The 46% surge in the China A50 index appears set to deflate further as investors factor in trade tensions and the absence of significant stimulus from the Chinese government to support the economy. The bearish trend is likely to persist as long as the price remains below 13,453.
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