Mihai_Iacob

Mihai_Iacob Jul 23, 2024

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 Jul 23, 2024

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  Jul 22, 2024

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 Jul 11, 2024

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 Jul 11, 2024

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  Jul 11, 2024

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...

Mihai_Iacob Updated  Jul 11, 2024

After the false break of support in mid-April, GBP/USD recovered and has risen to resistance once more. The recent correction is now over, and the price has formed a higher low at the end of June and the start of July. At this moment, a break above resistance seems imminent, and the price could continue to rise above 1.3. The next technical resistance level is...

Mihai_Iacob Updated  Jul 10, 2024

I understand the title may seem bombastic and possibly clickbaity, but in my view, there's a solid case for OANDA:XAGUSD potentially rising by $10 in 2024. Here's why: Observing the chart, unlike OANDA:XAUUSD , Silver has been trading within a range for precisely a year now, failing to establish new highs. However, on a positive note, since the pandemic low,...

Mihai_Iacob Jul 10, 2024

Last week, Bitcoin broke below the important 60k support level, which coincides with the neckline of a double top. However, after an initial drop to the 53k zone, the price quickly recovered, forming a daily pin bar and leaving a double bottom on short-term time frames. Now, Bitcoin is back in the broken support level zone. Considering the quick recovery, in my...

Mihai_Iacob Jul 10, 2024

At the beginning of last month, EUR/CAD tested the waters near the important 1.5 level. Sellers entered the market, causing the pair to drop to 1.46. A normal correction followed, and at the time of writing, the price is 1.4750. The 1.48 level serves as significant horizontal technical resistance, and the recent rise appears to be a corrective move contained...

Mihai_Iacob Updated  Jul 10, 2024

Since the beginning of the year, GBP/NZD has been on an upward trajectory, making higher lows and higher highs on the daily chart. Last week, the pair briefly dropped below support, but this was a false break, strongly reversed by Friday's price action. Currently, a new higher low seems to be forming. In my opinion, the pair will continue its upward movement and...

Mihai_Iacob Updated  Jul 9, 2024

Despite recent fluctuations, my medium-term bearish outlook on gold remains firm. Last Friday’s NFP report caused a spike that hit my stop loss at 2390, leading me to temporarily exit the market. My Scenarios: Rise and Sell: Gold may rise to test 2400 or higher. If it shows weakness at this level, I'll look for a selling opportunity, targeting a drop back to...

Mihai_Iacob Updated  Jul 9, 2024

If there has been a clear trend in the past two years, it has been the devaluation of the JPY. Despite some corrections, even very deep ones, the trend has always resumed, leading to new lows for the JPY. One of these deeper corrections occurred at the end of last year, triggered, as always, by JPY repatriation. However, as shown on the chart, the beginning of...

Mihai_Iacob Jul 8, 2024

The 2290 zone has proven to be very strong support for gold and bulls regained control from that area. Last week, XAU/USD continued its ascent, and Friday's NFP brought a new rise, breaking above the 2365-2370 resistance zone and closing the week at 2391. Currently, the structure is bullish with confluence support at 2365. Although I don't foresee sustained...

Mihai_Iacob Updated  Jul 5, 2024

As I mentioned in my previous posts, I am bullish on Bitcoin and expected a break above $71,000 with a rise to at least $85,000. However, I always consider multiple scenarios. In this post, I want to discuss all the potential outcomes I foresee. The Good Scenario: As shown in the chart, although the price dropped again from the all-time high resistance, the...

Mihai_Iacob Updated  Jul 2, 2024

As expected, last week gold dropped once more below 2300. However, after this new dip, bulls quickly took control, and the price swiftly rose to the familiar 2330 zone. Since Friday, the price has been ranging between 2320 and 2335, and a breakout in either direction could determine the future trend. A break above 2335 could lead to a new test of 2370, while a...

Mihai_Iacob Updated  Jun 26, 2024

After a strong 400-pip drop on Friday, which suggests that bears are still in control, OANDA:XAUUSD reversed exactly at the minor ascending trend line. However, after reaching the lower boundary of my sell zone, the price started to roll back down and tested the trend line once more during the overnight trading session. A price break below 2320 would confirm...

Mihai_Iacob Jun 25, 2024

Yesterday, Bitcoin dropped to the crucial 60k zone and, after briefly dipping below it, quickly reversed. Although this is a positive sign from a technical standpoint, could it really be that simple? In my opinion, it will not be that simple. In fact, looking at the chart, we see that Bitcoin has formed a double top pattern with the neckline just below the 60k...