TKProphet

TKProphet

TVC:USOIL Over the past three months, the price has been exhibiting a bullish trend by respecting the upward trendline. However, on the 4-hour time frame, the price is now in a consolidation phase. The price recently tested the highs but was rejected, indicating that there may be resistance at those levels. If the price fails to create a higher high, it could...

TKProphet

FOREXCOM:XAUUSD Over the past few days, we have been keeping a close eye on the price movement of a particular asset. Our analysis indicates that there has been a notable uptrend, which has been consistent and strong. Upon closer inspection, we have noticed that the price has formed a period of consolidation between the 61.8 and 50 Fib levels. Currently,...

TKProphet

FX:USDJPY The currency pair USDJPY showed a remarkable upward movement, which was followed by a period of consolidation near the highs. During the consolidation phase, the price has been creating lower highs, indicating a potential change in the trend. If the price gets rejected at the downward trendline or this zone, there is a possibility that the lows could...

TKProphet

FX:EURUSD The currency pair EURUSD has been exhibiting a solid downtrend, adhering strictly to the trendline until the price started consolidating at the lows, indicating a possible shift in momentum. The recent break of this trendline suggests a potential bullish movement in the near future. However, at the .618 on the Fib, the price broke structure to the...

TKProphet

FX:CADJPY The CADJPY pair has recently made a significant breakthrough, surpassing a previously established range. Currently, it is revisiting the former level of resistance, which now serves as a potential support level. If the price manages to hold at this level, it could indicate a bullish trend, leading to higher highs and potentially profitable trading...

TKProphet

FX:GBPJPY This pair has been on a steady uptrend since the 1st of February. Price rejected at 190.071 and started to create lower lows. In the process, liquidity was formed underneath the 187.917 and 188.912 levels. I'm looking for these areas to be retested before the uptrend continues. Based on the current trend, there is a possibility that the price may...

TKProphet

FX:EURGBP his pair has been in a downtrend since late December 2023, with consistent lower highs and lower lows leading to a 2.5% plunge from peak to trough. It fell to a six-month low earlier this week before bouncing off a technical floor at 0.8500. For a positive shift in market sentiment towards the euro against the British pound, it's crucial for the...

TKProphet

FX:GBPJPY The UK economy has been experiencing a notable slowdown since the start of 2023, which has worsened over time and culminated in a technical recession during the second half of the year. This economic downturn has been attributed to a range of factors, including a decline in consumer spending, weak business investment, and ongoing uncertainty...

TKProphet

FX:USDJPY Preference: The current 4-hour chart showcases a strong uptrend until the price level of 148.672 is attained. Upon reaching this point, the price began to exhibit lower highs, leading to the creation of multiple rejections within this region. Following the establishment of this area as resistance, the price proceeded to break out and is now...

TKProphet

FX:GBPUSD Preference: This currency pair exhibited a prolonged period of upward momentum that persisted until its valuation began trading within a range on the 4-hour time frame. The range has been consolidating for the past few days. Notably, the most recent movement resulted in a retest of the support level within the range, and the price has since...

TKProphet

FX:EURUSD Preference: An analysis of EURUSD reveals that the bears retain control as the price continues to adhere to the downward trendline. Over a period of several days, the price consolidated on the four-hour time frame, but a recent move led to a downward breakout from the range's support level, and the price is presently reassessing that area. In the...

TKProphet

FX:EURGBP Preference: According to early PMI survey data, business activity growth in the UK has accelerated for a third consecutive month in January, indicating a promising start to the year. The data suggests that the economy is likely to grow at a quarterly rate of 0.2% after a flat fourth quarter, thus avoiding a recession and showing signs of renewed...

TKProphet

FX:EURJPY Preference: Rising labor costs can have an adverse impact on the overall production cost of firms, which may compel them to pass on the additional financial burden to the final consumer. This, in turn, can potentially heighten the prices of goods and services, thereby exacerbating the already existing inflationary pressures. Due to the effects of the...

TKProphet

FX:AUDCAD Bearish Reversal Preference: Despite the recent positive movement in the price, we are encountering a significant obstacle due to the underlying structure that is affecting the overall trend. We are currently witnessing a bearish rising wedge formation, where the price is moving in a narrowing range with the upper boundary slanting downwards. If the...

TKProphet

FX:GBPUSD Preference: ‘Based on the initial PMI survey data, it is encouraging to note that the growth of business activity in the UK has shown a consistent increase for three consecutive months since January, indicating a promising start to the year. The survey data suggests that the economy is expected to grow at a quarterly rate of 0.2% after experiencing a...

TKProphet

FX:EURUSD Despite the release of better-than-expected PMI results, the US dollar declined on Wednesday. However, the situation may change in the coming days, particularly if important US economic data continues to exceed expectations. Therefore, it is crucial to keep track of the fourth-quarter gross domestic product figures, which are scheduled to be published...

TKProphet

FX:EURJPY Bearish Reversal Preference: The currency pair in question is establishing a sturdy support level at the price point of 150.879. In the event of a rebound at this level, an entry point of 161.212 is being considered for this setup. However, should the price move without retesting this entry, a break and retest strategy will be employed prior to taking...

TKProphet

FOREXCOM:XAUUSD Preference: This week, officials from the Federal Reserve and the European Central Bank have made efforts to manage market expectations regarding interest rate reductions. Despite the general consensus that both central banks will lower interest rates this year to realign with inflation targets, the magnitude and pace of the cuts anticipated by...