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Fundamental Analysis

Quick look at Oil, Gold & Dollar IndexI'm closely monitoring the oil market, adopting a cautious stance as I await a compelling catalyst to drive oil prices upward. A potential factor on my radar is the increasing involvement of the UK and the US in the tensions between Israel and Palestine. If this geopolitical situation intensifies and draws in Iran to support Palestine, it could contribute to a surge in oil prices. Shifting the focus to gold, my outlook is optimistic for a bullish trend in 2024. Historically, gold tends to perform well in the first quarter of the year, and I anticipate a positive trajectory for the precious metal. On the currency front, my analysis suggests a bearish trajectory for the US dollar index throughout 2024, potentially reaching 0.96 by the year-end. This projection reflects a cautious stance on the strength of the US dollar in the coming months.
EIGHTCAP:USDX
by ManilaFXTrading
Bitcoin : Why the ETF News is BEARISH for BTCHi Traders, Investors and Speculators of Charts📈📉 The Bitcoin ETF approval is expected to be announced any day now - but wat does this mean for the price of BTC? When there's an unprecedented event that will affect the markets, it's helpful to return to the basics: 👉 Buy the rumor, sell the news 👉 Macro Analysis 👉 Candlestick analysis 👉 Buy the rumor, sell the news If the ETF should be declined (which seems unlikely), the price will definitely react negatively. But if the ETF is approved (as most widely anticipated), the price will likely also drop as the classic dump after good news. 👉 Macro Analysis Bitcoin is due for a correction / pullback. Even dropping to lower 30K zone would still be a lower high, classic Elliot Wave Theory before the next upwards impulse wave. 👉 Candlestick analysis BTC has made 5 consecutive green candles in the MONTHLY. A red one is definitely overdue. This will support as a "fundamental reason" for the ETF news. NOTE that I am still BULLISH on BTC. We're in the opening moments of a new bullish cycle, but there are pullbacks and corrections in upward cycles - and I'm expecting one around the time of the ETF news. If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets. _______________________ 📢Follow us here on TradingView for daily updates📢 👍Hit like & Follow 👍 CryptoCheck BINANCE:BTCUSDT
Short
by CryptoCheck-
9
BTCUSD50 thousand dollars could attract Bitcoin like a magnet Bitcoin buyers spent every moment trying to conquer the higher climbs, up 6% from the first day of trading, and market watchers were seeing huge amounts of money pouring into each of the Bitcoin ETFs, and how much in Grayscale GBTC The Trust remains in the process of becoming a proper ETF. I think these numbers will be difficult to truly interpret, but I also suspect that the numbers are shaping up to form a new story on Bitcoin. Eric Balchunas of Bloomberg predicted $4 billion in AUM on the first day. Given that Canadian ETFs reached $480 million in the first two days of trading (keep in mind that Canada is one-tenth the size of the US, plus it has a much smaller GDP per capita and no global markets). I used to see these numbers as close to $15 billion, but now there is $30 billion in Grayscale, and how that amount of money flows is a huge question mark for me. As for pricing, Bitcoin hit a high of $49,051 but has since lost $3,000. I could see the $50,000 tag as a new event that would trigger a new scenario. Bitcoin is near weekly highs, and Bitcoin ETF hype is on the rise With the ETF hype-machine in full swing, the flow of money is increasing, and the question is whether this will be the real deal. What I'm asking is: What will Bitcoin be motivated by next week? Will it continue its upward trend until conquering the peak of 80 thousand dollars? Is the halving phenomenon coming? Or will it hold this market for about three months?
BITSTAMP:BTCUSD
by Masih_Rezvani
Cardano's Race to Breakout: Will the Turtle go 1-2-3 Fly ? 🐢🚀 Hello everyone! The crypto sphere is buzzing with the recent approval of the Bitcoin ETF, sparking a surge in altcoins. Among them, Cardano has been stealing the show. We've seen some successful entries with Cardano, including a notable one at $0.25. However, the critical level to watch now is $0.6863. Cardano must break this to signal a major breakout. This could be the third and pivotal attempt, following previous rejections in June and December 2022. If you are laughing at my ''1-2-3' better check some examples here (click on play) and here So, what's the probability of Cardano breaking higher? I estimate a 64% chance. But remember, there's still a 36% possibility of a rejection, and we must be prepared for that. No FOMO – we only make moves once it's over that crucial level. Delving into the Cardano vs. Solana debate, Cardano, with its Haskell programming base, is like the turtle in the ancient fable – slow but steady. In contrast, Solana is fast and furious, akin to the rabbit. But as the fable goes, it's often the turtle that wins the race. Cardano's emphasis on safety, while leading to slower developments, has its advantages. On the charts, we're seeing new support levels forming. After our successful entry yesterday, Cardano shows new support at $0.5925. Our target is to go long up to $0.6865 for the critical third test. Below this level, we have support at $0.58 and $0.52, but we're hoping not to see these levels tested. With the recent discussions about ETFs, attention has been mainly on Ethereum and Ripple. However, I anticipate a shift where Cardano could also enter the ETF conversation. Given its American roots and unique approach, it's plausible we might hear rumors of a Cardano ETF soon. This development could significantly impact its market performance, similar to Ethereum's recent rise. In conclusion, the chart is our guide. We buy over $0.6865, being aware of the 36% chance of rejection. Under this level, we remain cautious, ready to adjust our positions. Will Cardano, the turtle, prove its resilience and win this race? Let's watch and find out. One Love, The FXPROFESSOR 💙 Altcoins Surging After SEC Approval Are Cardano, Avalanche, and Others Spot ETFs Coming? Cardano: The Next Solana? Some Haskell criticism
Long
by FX_Professor
✨❄️🌟 The Tutorial How-To Find a Magic on TradingViewFinancial markets just finished its memorial 2023. Whatever the numbers at the “Closing bell”, on your monitors and in your portfolios, there is no doubt that 2023 year’s Santa Rally will go down in history as one of the most outstanding in many years. In November and December, 2023 the U.S. stock market was rallying for the 9th consecutive week in a row. This was the longest ever upside streak in SP:SPX over the past 20 years, since the fourth quarter of 2003. Well.. just try to answer what happened with the market the past one time. Happy New 2024 Year! ✨❄️🌟🎅🎊🌲💫⛄️🌠✨❄️🌟🎅🎊🌲💫⛄️🌠
NASDAQ:NDXEducation
by Pandorra
2
EURUSDEURUSD 11.01.2024 Daily chart: We can see that EURUSD recently bounced above the key trend line around the 1.09 price level, where we have the 61.8% Fibonacci retracement level to cross. This is where buyers with defined risk around the trend line stepped in to push the price to a new high. On the other hand, sellers should break the price below the trendline to invalidate the bullish setup and position for a break at the 1.07 price level. 4 hour chart: We see that this currency pair is stuck in consolidation between 1.09 support and 1.10 resistance. The market may await US CPI data before deciding on the next path. However, the current setup gives us two possible scenarios: A break to the upside should start a rally to a new high. A break to the downside would likely trigger a sell-off to the 1.07 price level. 1 hour chart: We can see the current price action more closely as the currency pair bounces around. There is nothing to do here but wait for the US CPI report and trade adjustments to guide the way. Today we get the latest US CPI report and US jobless claims figures, while tomorrow we finish the week with US PPI data. tip : * Be sure to keep an eye on the DXY dollar index chart. * Monitor the news carefully. * Use the combination of technical and fundamental analysis in the stock market, stock exchange, forex and digital currencies
by Masih_Rezvani
XAUUSDGold is consolidating around a key support zone. what next Gold has been stuck in a consolidation lately as the market awaits the US CPI release scheduled for today. In the big picture, gold should be supported as we get closer to a rate cut cycle. Moreover, even if the CPI data is hot, the figures should look much better in the second quarter as the higher readings of the first quarter of 2023 are excluded from the calculation. The hard part is to combine the short-term direction with the long-term direction and for that we can take the help of technical analysis. Daily chart We can see that gold has recently rallied around a key support area around the 2020 level, where we can find a trend line intersection and the 61.8% Fibonacci retracement level. This is where the buyers have piled up around the trend line with a certain risk to turn into a rally to a new high. On the other hand, sellers want to see the price lower to invalidate the bullish setup and position for a drop to the 1970 level. 4 hour chart We see that we have a downtrend line that defines the current short-term downtrend. Sellers are likely to rely on the risk-defined trend line around it to break below the main uptrend line. On the other hand, buyers want to see the price move higher to invalidate the bearish setup and push bullish bets to all-time highs. 1 hour chart We can see recent price action more closely with gold trading between 2020 support and 2040 resistance. Not much to do here except wait for the levels and key settings to work. Keep an eye on the data today as we are likely to see big moves later. Attention: * Be sure to keep an eye on the DXY dollar index chart. * Monitor the news carefully. * Use the combination of technical and fundamental analysis in the stock market, stock exchange, forex and digital currencies. ​
SAXO:XAUUSD
by Masih_Rezvani
1