Mihai_Iacob

Mihai_Iacob Updated 

In last week's analysis of the DXY, I noted that the index had reversed back above support, potentially indicating a false break. Additionally, the smaller time frame charts are showing an inverted head and shoulders pattern. This idea remains valid, though with some reservations, as the right shoulder is taking too long to complete. This extended formation...

Mihai_Iacob Updated 

As expected, GBP/USD broke above the 1.2850 resistance level and surpassed 1.3. A correction followed, and now the pair is back at support, possibly retesting this level. However, the inability to stabilize above 1.3 and the fact that the DXY (US Dollar Index) experienced a false breakdown is not very reassuring for bulls. A break below this support would...

Mihai_Iacob

In financial markets, it's common to look for correlations between different assets to understand their behavior and make informed trading decisions. One widely discussed relationship is between Gold (XAU/USD) and the US Dollar Index (DXY). While it's often assumed that these two assets are inversely correlated, a deeper analysis reveals that this is not always...

Mihai_Iacob

Unlike Bitcoin, the recent correction in the crypto market hasn't led to a break of support in COINBASE:ETHUSD case. Instead, bulls held the 2900 technical support level very well. Although the recent ETF approval led to some profit-taking, bulls returned to the market around 3100, establishing a higher low. With new optimism back in the crypto market, I don't...

Mihai_Iacob Updated 

After reaching the 200 milestone back in March, Solana experienced a correction, which was expected. However, unlike other altcoins, bulls managed to maintain the price well above the 2023 lows, where the bull run started. They acted "technically", preventing the price from falling below 125, a former resistance level that has now become support. The past three...

Mihai_Iacob Updated 

I'm not a "to the Mooner", and when I thought Bitcoin was going down, I said so, even though I knew I'd get some negative comments. I'm not a perma-bear either... In fact, at the beginning of this month, I mentioned that the break under 60k is most probably a false break. I try to stay as objective as possible, trading based on what I see rather than my biases, ...

Mihai_Iacob Updated 

Yesterday, XAU/USD continued its descent and dropped to the 2350-2355 support zone without retesting the 2390 broken support, indicating selling pressure. At this moment, the market is correcting to the upside, which should offer bears better entry prices. The best zone to sell remains 2390-2400; however, if this zone is not tested, traders should look for lower...

Mihai_Iacob

Everyone dreams of finding that 100x crypto gem, but if you want to have a fighting chance beyond just buying random coins and praying that one hits, there’s one thing you need to do: master tokenomics. Tokenomics is the key to a crypto project’s price performance, and nearly every 100x crypto gem in history has had great tokenomics. This guide will teach you...

Mihai_Iacob Updated 

Last week, the DXY broke below important horizontal support. However, the next day, the index reversed its losses, followed by a bullish candle on Friday. This created a strong reversal candle on our weekly chart, making us wonder if the initial break was false. Now, the index is consolidating above this important horizontal support. A break above the current...

Mihai_Iacob Updated 

Yesterday, after the second test, XAU/USD reversed from 2390 and reached the 2420 resistance zone. However, last week's drop was impulsive and might only be the first leg of an overall correction within the long-term bull trend. The rise to just under 2400 appears corrective so far, suggesting we might see another drop below 2400 and eventually a drop below the...

Mihai_Iacob

Since April, the SPX has risen around 15%, and since November's low, it has increased by almost 40%. This is quite significant for such an index, making us wonder if this rise is fundamentally justified (in my opinion, it is not). But, as they say, "trade what you see, not what you think". What we saw was a strong upward move. However, keeping this expression...

Mihai_Iacob

After a recent dip to the 1.6 zone and a period of consolidation, the EUR/AUD has reversed strongly over the past two weeks, leading to a significant breakout. As shown in the chart, following an initial upward movement lasting about a year, the pair corrected and consolidated within a falling wedge pattern for another year. Currently, we see a clear breakout...

Mihai_Iacob

In my recent BTC post, I mentioned that the break below $60,000 is most likely a false one. This proved to be correct, and the price has returned towards the important $70,000 zone. At this moment, BTC could enter a correction phase from the recent upward movement. This correction should be seen as a buying opportunity, potentially leading to a new all-time...

Mihai_Iacob

In my analysis yesterday, I mentioned that gold could drop below $2400, and indeed it did. After touching the support zone around $2390, the price reversed to the upside. However, the bulls seem weak and unable to sustain the price above $2400, with the price now pressing against the support. A break below this level looks probable, and the price could drop...

Mihai_Iacob Updated 

Last week, gold reached a new all-time high, almost hitting $2500. However, the market started to reverse on Wednesday, and XAU/USD finished the week at $2400, forming a large pin bar on our weekly chart. On the short-term chart, we also see that the recent ascending trend line has been broken, which also has bearish implications. In my opinion, gold will drop...

Mihai_Iacob

Back in winter, when everyone was super bullish and the hype around some coins, particularly INJ, was incredible, I predicted that the coin could drop to 20. Indeed, since then, INJ/USDT has dipped into that zone several times and even fell below 20 recently. Although I don't see INJ reaching 100 or achieving the lofty multipliers that some people dream of when...

Mihai_Iacob

Recently, EUR/USD found support and formed a strong base just below the familiar 1.07 level. The pair began to rise and has been in a consolidation phase since Friday's Non-Farm Payroll (NFP) report. However, the pair is currently testing Friday's high, and a breakout seems imminent. If this occurs, we could see an acceleration to the upside, with my medium-term...

Mihai_Iacob Updated 

Yesterday, gold dropped again to the important support zone at 2350. However, bulls took control and elevated the price to interim resistance level. Since then, the price has fluctuated within a tight range. As explained yesterday, I am considering two bearish scenarios and expect a drop back to the 2300 zone. A clean break above 2370 could expose the 2390...