Trendsharks

Trendsharks

As government restrictions in the U.S. and elsewhere ease, so the global tourism industry is likely to recuperate. This would naturally boost airline stocks. With regards to Boeing, the share price recently concluded a major Descending Wedge, which entails probable trend continuation. The pattern bottomed out at the 250-day MA (in red), which was followed by a...

Trendsharks

The latest bullish pullback on ETHUSD entails excellent opportunities for contrarian trading. After having tested the 23.6% Fibonacci on two separate occasions, the price is currently probing the 38.2% Fibonacci. The descending trend line (in red) is currently threading very close to this major resistance, which in itself presupposes a likely...

Trendsharks

The GBPUSD appears to be testing the upper boundary of a major Descending Triangle, which typically entails rising bullish momentum. If, however, the price action were to fail to break out above the minor resistance level at 1.4160 at the present moment, this would provide bulls with another opportunity to go long at a discount. They can wait for another...

Trendsharks

The share price of Tesla seems poised to appreciate towards the psychologically significant resistance level at 700.00 over the med-term. The prominence of this level is derived from the fact that it is positioned remarkably close to the 23.6% Fibonacci retracement. The latest upswing originated from the 38.2 per cent Fibonacci. The reinvigorated bullish...

Trendsharks

The CADCHF is currently finishing a Descending Wedge, which typically serves as a trend continuation pattern. A decisive breakout above its upper boundary would entail the likely continuation of the uptrend. Before this happens, however, the price action is likely to fall to 0.73900 one more time, which would allow bulls to enter long at the resulting dip....

Trendsharks

The price action has been developing a massive Ascending Wedge that was highlighted in our previous analysis of the pair. This implies that the EURUSD may finally be ready to break away into a new downtrend. These expectations are further substantiated by the MACD, which is underpinning a divergence in the making. Such a reading of the indicator is to be expected...

Trendsharks

The USDJPY is currently attempting to develop a decisive bullish breakout from the major Triangle pattern. If the price action manages to penetrate above the upper end of the Triangle and the 100-day MA (in blue), then it would be free to target the 61.8 per cent Fibonacci retracement level. The latter underpins the first major bullish target. The mounting...

Trendsharks

The price action of RYA has been range-trading for quite a while now, mostly being concentrated between the major resistance level at 17.100 and the major support at 15.100. The massive Marabozu candle that is forming today could potentially indicate the termination of the sell-off. Moreover, Ryanair's stock may be due for another attempt at breaking the range...

Trendsharks

Apple's share price is currently testing the ascending trend line, which is converging with the 200-day MA (in orange). Unless it manages to break down below the two, this would create an excellent opportunity for bulls to buy into the trend at the resulting dip.

Trendsharks

Dogecoin is currently trading in a downtrend, and traders should not hope for an immediate rebound. The price is likely to fall to 0.2000 (major support) at least one more time before it starts consolidating. Traders should only consider going long once there are clear indications that the price is ready to strengthen above this critical threshold. Those would...

Trendsharks

The NZDUSD continues to advance within an ascending channel underpinning the latest uptrend. The latter emerged in the wake of the ABC correction, which, in turn, followed the preceding 1-5 Elliott impulse wave pattern. The pair is currently consolidating above the 50-day MA (in green), 100-day MA (in blue), and the lower end of the channel. Once there is enough...

Trendsharks

The EURJPY is nearing the upper boundary of the ascending channel, which means that a minor dropdown is likely to occur next. Such a bearish correction does not have to entail a complete trend reversal but merely to act as a minor retracement of the broader uptrend. Even still, contrarian traders could catch a sizable dropdown to one of the next psychologically...

Trendsharks

The price of Gold has already established four bullish legs and a corrective one might be due next. The price action is currently establishing a divergence, which is also underpinned by the MACD indicator. If the price drops to the closest support, which is highly likely, this would represent a movement of $20 dollars. And if the price manages to break down...

Trendsharks

The price of WTI is finally breaking down below the lower boundary of the Triangle, which is the beginning of a new potential markdown we have been waiting for (see our related idea below). The first major target level is the 60.00 psychologically significant support. A potential throwback could emerge from there to 62.50 (as underpinned by the 50-day MA in...

Trendsharks Updated 

Bearish sentiment keeps mounting on Bitcoin, and Elon Musk is not solely to blame. The Wedge was successfully completed, as we forecasted in our last analysis of the crypto, and the price is currently consolidating above the 61.8% Fibonacci. This, however, is unlikely to turn into a major rebound. A pullback could reach as high as the 38.2% Fibonacci before...

Trendsharks

The EURUSD appears to be developing an Ascending Wedge pattern as global inflation concerns tighten. This could strengthen the reeling greenback, potentially causing a reversal. This is further substantiated by the fact that, when found at the top of an existing uptrend, Ascnedning Wedges signify potential reversals. Furthermore, the MACD indicator underscores...

Trendsharks

The EURGBP is currently trading around the lower boundary of an Accumulation range, as postulated by the Wyckoff cycle theory. This range would likely serve as an intermediate stage before the beginning of a new uptrend. The three Fibonacci retracement levels outline the crucial targets for such an uptrend. Any traders looking to go long around the current...

Trendsharks

The DAX index appears to be forming a Bearish Crab pattern, which typically entails likely bearish reversals. This is strong enough confirmation of the aforementioned bearish sentiment, but there is more. Provided that the price action reaches point D at around 15900.000, this would create perfect selling conditions. Moreover, the peak of the Crab pattern would...