SAAB - Expecting retracement before continuationI would like us to retrace before we continue up, if we go up from here i expect a bigger retracement in the future and the continuation to be weaker. Bascily if you want SAAB to continue up in the long run you want a healthy retracement here.
I can see SAAB to go up to 790 based on trend-based fib extension. After the retracement, if we hold the bouncing levels.
Nato
Gold Update Urgent Gold Price Forecast in Light of Finland's NATO Membership and Potential Conflict in Europe
With Finland's recent entry into NATO, there is increasing speculation about the potential for conflict in northern and eastern Europe. As tensions continue to rise between Russia and NATO, the price of gold is likely to see a significant increase.
As a safe-haven asset, gold has historically been a popular investment during times of geopolitical uncertainty and global conflict. With the threat of war looming, investors may turn to gold as a way to protect their wealth.
Furthermore, the increase in demand for gold could be further fueled by the weakening of the U.S. dollar, which typically leads to a rise in the price of gold. As investors seek to hedge against inflation and currency devaluation, the demand for gold may increase, driving up its price.
It remains to be seen how the situation in Europe will unfold, and whether the tensions will escalate into a full-blown conflict. However, if the worst-case scenario does occur, it is likely that the price of gold will continue to rise as investors look for a safe haven amidst the chaos.
In summary, the recent developments in Europe have the potential to significantly impact the price of gold. Investors should closely monitor the situation and consider adding gold to their portfolios as a hedge against geopolitical risks and inflation.
USA NATO Countries & Crypto Currency Asset ClassWe could see with the recent price action go up to $1.9 Trillion for Crypto Currency / Crypto Asset Markets. Bitcoin is clearly the digital property in the asset class. As the asset class matures it is clear how now the US Government not only governs US Citizens and US Companies but also all Companies or Entities that are related to Business in the United States of America. It becomes clear the government of the United States of America might take this time in history to unite NATO Countries into a single Economic Network. Produce and trade within first. With nations that can produce rare commodities we need to allow them to do so in an environmentally friendly way. It is good for National and Alliance Security overall.
IS THIS THE HEALTHY UPTREAD?Weekly Time-frame
We are currently above Ichimoku Cloud but not yet confirmed. Still this is a Bullish Scenario. Bullish Relative Strength Index (RSI), Bullish Awesome Oscillator (AO). Rejection Area of $45,806 & $48,008. Support is in $43,971.
1D Time-frame
Huge green volume candle right there in AO. Area of rejection is still in $45,350, $48,008, and max would be $49,965. RSI is not overbought yet means there are still room for the upside. EMA 144 and EMA 233 has become a Strong Resistance. We are yet to test this resistance which is weakening and becoming a flattening slope resistance. Support is found in $44,106 & $42,624.
4H Time-frame
alternative.me
There is no sign of eminent reversal of trend yet. Greed and Fear Index remains neutral 52 (yesterday 51).
We can expect more to the upside. Rejection Area $45,653, $45,806, & $48,008. Relative Strength Volatility Variable Bands (RSVVB) staying inside the Bullish Pumping Zone. We have formed Cup & Handle price target at $53,907. RSI is overbought but doesn't matter it is normal during a healthy up-trend.
We will discuss more on the possibility on our Live. Stay tune and check with us!
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Disclaimer: Above Technical Analysis is pure educational information, not Investment Advice. The information provided on this post does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
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Timestamps
#EURGBP 1D 01:05
#AUDJPY 4H 04:40
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general market commentary and does not constitute investment advice.