Mihai_Iacob

Mihai_Iacob

In my analysis last week, I mentioned that for GBP/USD to maintain its upward momentum, bulls would need to push the price above the key resistance level at 1.3420. However, they were unable to clear that level, and the pair has since experienced a decline. Interestingly, as I was writing this update, a significant break occurred below a confluence of support...

Mihai_Iacob Updated 

After reaching an all-time high (ATH) above $2 at the end of March, SUI entered a correction that pushed the coin below the key $1 level, reaching a low just under $0.50 on August 5th. However, SUI quickly recovered, and by August 8th, the SUI/USDT pair had broken above the falling resistance line of the channel, hitting a high above $1 on August 12th. Following...

Mihai_Iacob Updated 

Yesterday, EUR/USD saw a sharp drop from the 1.12 level, reinforcing it as a strong resistance. The pair rebounded after touching the rising trend line, but in my view, it's only a matter of time before this support is broken. In conclusion, I am looking to sell into rallies, targeting the 1.10 support, with a stop in place should there be a daily close above 1.12.

Mihai_Iacob Updated 

On Friday, USD/JPY experienced a significant sell-off, losing around 500 pips in a sharp downward movement. However, after reaching the key horizontal support level at 141.64, the pair managed to find some relief and began a recovery, suggesting that the recent decline may have been short-lived. Currently, USD/JPY is working to negate this steep sell-off,...

Mihai_Iacob Updated 

The Hong Kong Index has faced challenging years since reaching its all-time high in 2018. The downtrend accelerated in 2021, bringing the index to a low of around 15,000. The subsequent reversal aligned neatly with horizontal resistance and the 50% Fibonacci retracement level, indicating that the bears were not finished yet. Indeed, 2023 also saw a continued...

Mihai_Iacob Updated 

In yesterday’s post, I discussed the possibility of a new leg in the ongoing correction for gold, pinpointing the 2630 zone as a potential area for this decline to materialize. As it stands, XAU/USD has indeed dropped to that level and is currently showing signs of recovery. However, there are two key takeaways from yesterday’s price action that need to be...

Mihai_Iacob

After finding strong support around the 2150 zone, Ethereum (ETH) began a recovery and has since entered an upward trajectory. While this recent upward movement is encouraging for short-term traders, the overall long-term outlook remains uncertain. There is a strong confluence of resistance around the 2900 zone, which may pose a significant barrier to further...

Mihai_Iacob

Whether you're just beginning your trading journey or looking to gain more confidence, many new traders overlook key advice that is essential for long-term success. Trading is a fast-paced and ever-evolving landscape, and having the right guidance from the start is crucial. In this article, we’ll explore five fundamental pieces of advice every new trader should...

Mihai_Iacob Updated 

At this moment, I’m long Bitcoin, just like many others out there who are hoping for the next all-time high. The dream of Bitcoin breaking its historical peak is alive, but there’s this lingering question I can’t ignore: what if it doesn’t happen? It’s worth considering a scenario that no one really talks about — what if Bitcoin doesn't break out to new highs...

Mihai_Iacob Updated 

Last week, I suggested that Gold would experience a pullback at some point. However, this wasn't a prediction of a trend reversal, but rather a temporary correction following its extended upward move. On Friday, Gold did indeed decline, reaching an intraday low in the 2643 zone. Now the key question is: Has the correction ended? In my view, there is still...

Mihai_Iacob

Since the beginning of the month, BTC has been in an uptrend, recently breaking above its previous high of 64,500. After reaching a high around the 66,500 zone, the price began to decline in what appears to be a correction. Currently, the price is sitting right at a key confluence support level. If we're aiming for a move toward 68k, the price needs to hold...

Mihai_Iacob

Much like its larger counterpart, the AUD, the NZD found a bottom against the USD in early August. Since then, the pair has been trending upwards and is currently testing a key resistance level. A breakout here could lead to further gains, with the 0.65 level as the next potential target. I'm bullish on the pair as long as the price stays above last week's low.

Mihai_Iacob

After a challenging start to the year, during which OKX:ARTYUSDT token dropped significantly from above $2 to around the $0.35-$0.37 range, the token finally appears to have found its bottom during the summer. Since then, it has entered a period of consolidation, showing signs of stabilization after a long period of decline. In recent months, OKX:ARTYUSDT ...

Mihai_Iacob

Patience is often touted as a key trait of successful traders, but it’s frequently misunderstood and misapplied. Many traders believe they are exercising patience by holding onto losing trades, hoping the market will turn in their favor. Meanwhile, they tend to exit winning trades too quickly, fearing that profits may evaporate. This common misinterpretation of...

Mihai_Iacob Updated 

After briefly dipping below the crucial 120 support level, Solana managed to recover some of its losses from the recent high of 190, climbing back up to 160. At this point, it encountered strong resistance, and after the second attempt to breach this level, the price started to decline again. However, the drop was swiftly halted at the 120 support zone, and the...

Mihai_Iacob

After correcting from 1.3267 and testing the technical and psychological level at 1.3000, GBP/USD has started to rise again in a steady and stable manner. The pair encountered resistance just above 1.3400 and has dropped twice from that level. However, each time, it formed a higher low and quickly reversed back toward the resistance. This pattern suggests an...

Mihai_Iacob Updated 

In yesterday’s video, I mentioned a high probability of Gold reaching a new all-time high (ATH) before undergoing a significant correction. As anticipated, the price pushed higher, with the new ATH now standing at 2685. After hitting this high, the price experienced a quick drop, but bulls held strong around the 2650 support zone. Since then, the price has...

Mihai_Iacob

Since the beginning of August, AUD/USD has started reversing its bearish trend. The rise appears to be forming an ABCD pattern, with the final target potentially around the 0.70 level. After reaching a recent high, this week's correction halted exactly at the confluence of support, defined by a horizontal line and a trendline. Yesterday, the pair quickly...