The April and May descending channel pattern was broken on May 20. The German stock index afterwards confirmed the previous resistance line as support, before starting a surge. By the start of June, the stocks were approaching the March high level zone at 14,825.00/14,940.00. Meanwhile, the resistance zone was being approached by the 200-day simple moving average near 15,000.00. If
The USD/CHF pair reached parity shortly after the May 10 publication signaled that it is set to occur. Afterwards, the rate shortly touched the early 2018 high levels at 1.0060, before starting a steep decline. During the second part of May, support to the decline was found in the 0.9700 mark, the 50-day simple moving average near 0.9600 and
A May low level zone at 11,508.00/11,700.00 provided enough support for the US Tech stocks to start a recovery. By the start of June, the index had reached the zone, which captured the February, March and April low levels. The zone appeared to have acted as resistance. If the index resumes its decline, the US tech stocks are highly likely set
The USA top 30 stock index shortly pierced the lower trend line of the large scale 2022 channel down pattern, on May 19. However, the event was followed by a broad stock market recovery. Most recently, at the start of June, the recovery of the index encountered resistance in the 50-day simple moving average near 33,250.00. If the 50-day simple
Since the last review conducted on April 25, the Japan 225 stock index has revealed a resistance zone at 27,500.00, declined to book a new low level at 25,520.00, before recovering and surging. On May 30, the index was approaching the combined resistance of the 27,500.00 level and the upper trend line of the 2021/2022 channel down pattern. A bounce off
The resistance zone of the 2021 high levels at 16.30/16.35 held during the first half of May. By May 30, the rate had bounced off the resistance zone and declined to the support and resistance zone at 15.42/15.56. A move below the 15.42/15.56 zone, the pair is expected to decline as low as the 14.75/14.80 zone, which acted as resistance
The decline of the UK top 100 stock index found support in early May in the 7,155.00/7,185.00 zone. Since the event, the index has been highly volatile in the 7,200.00/7,500.00 range. On May 26, the index appeared to have broken out of the range to the upside. A potential surge of the stocks could encounter resistance in the 7,600.00 mark and
The price for Ethereum dropped to the 2021 summer low level at 1,721.00 on May 11. The low level acted as support and caused a retracement to the previous 2022 low level zone, which acted as resistance. On May 26, the ETH/USD pair was back at the 1,721.00 level. If the price passes below the 1,721.00 level, support could be
Since the previous review of the USD/SGD technical chart, the pair had broken the resistance zone at 1.3690/1.3750 and the upper trend line of the channel up pattern. Afterwards, a surge occurred to the 1.3990 level on May 12. By May 25, the rate had declined from the 1.3990 level and retraced to the 1.3690/1.3750 range. If the US Dollar resumes
Since plummeting in early May, the price for BTC/USD has been trading above a support zone at 28,900.00/29.550.00. If the price for the cryptocurrency recovers, it would face the resistance of the February 2022 low level zone at 33,170.00/34,470.00. Higher above, note the resistance of the 50-day simple moving average near 36,450.00 and the upper trend line of the
In late March, the USD/MXN pair broke the channel up pattern, which guided it since early 2021. It appears that a smaller scale pattern, which was located in the larger pattern, has guided the rate back to the 2021 low level zone. The intact pattern captures the pair's moves since the late 2021 high level was reached. Most recently,
The price for silver passed below the support zone of the 2021 and 2022 low levels at 21.50/22.00 on May 10. On that day, the US Dollar strengthened due to the fact that inflation in the US was revealed to had continued to grow and the revelation signaled an incoming increase of monetary tightening by the US Federal Reserve.
The top update on the EUR/GBP daily candle chart is that the pair broke the resistance of the line, which connects the 2021 September and December low levels together with the 2022 high. The surge occurred on May 5, as the Bank of England announced that it expects higher inflation than previously forecast. It resulted in a 72 base
The surge of the CAD/JPY eventually surged above the 100.00 mark. Afterwards, a new high level zone was confirmed at 102.40/102.90, during April's trading. During the first half of May, the pair declined, before finding support in the 98.00 level and the 50-day simple moving average. On May 18, the rate had recovered and was testing the resistance of the
The price for natural gas hit a new high level at 9.0000. However, after hitting the high level, four days later, the price had once again returned to the support zone of the 2021 highs at 6.3225/6.4850. Afterwards, by the middle of May, the commodity price resumed its surge, as it approached the 8.0000 mark. If the commodity price reaches above
Since the last review of the price for Brent crude oil on April 4, the price has passed below the support line, which guided the benchmark up throughout early 2022. Despite that, the price found support in the March low levels at 96.70/98.00 and recovered until it encountered resistance at 115.00. In general, the commodity appears to have been
The price for light crude oil broke out of the squeeze in a triangle pattern on April 12, but the event was not followed by s sharp surge, which in theory should have occurred. The reason for the crude oil remaining near 100.00 is attributed to the OPEC countries announcing after a summit that they want oil near current levels
The Small Caps stock index declined, as it was forecast in the April 8 article, which focused on the bounce off from the resistance zone at 2,100.00. By May 13, the stocks had declined to the support of the 50.00% Fibonacci retracement level at 1,714.00 and the 1,700.00 mark. A move below 1,700.00 would look for support in the
On May 11, the price of BMW was testing the resistance of the March and May high levels at 82.70/83.60. On May 12, the stock price started the day's trading at the mid-March and April low level zone at 75.35/75.90. The reason for the drop was the dividend payout done by the company. Namely, investors received their dividend payout
On May 8th, the US 500 stock index passed below the support zone at 4,035.00/4,065.00. Afterwards, as the index passed below the 4,000.00 mark, the previous support zone was confirmed as resistance. A continuation of the decline of the index is highly likely set to look for support in the 3,830.00/3,870.00 zone, which impacted the index in early 2021.
On April 4, the NZD/USD currency rate shortly reached above the 0.7000 mark. However, the buying pressure was not enough to cause a follow up surge. Instead, the rate eventually passed below the support of the 200-day simple moving average, then broke the channel up pattern, confirmed the 200-day SMA as resistance. Afterwards, the 50-day simple moving average near
The surge of the Swiss Franc against the Japanese Yen eventually ended at the 136.00 mark on April 19. By May 11, the rate had retreated to the support zone at 130.80/130.90 and shortly reached below it. In the case of a recovery of the Franc against the Yen, the rate could encounter resistance in the 132.00 mark, which
The August and September high level at 35,500.00 provided enough resistance for a decline to start on April 20. Two days later, the index broke down and passed three previous support and resistance levels, before eventually reaching the June 2021 low level at 33,065.00. By May 10, the index had revealed a narrow channel down pattern and reached the
Since the review done on April 4, the USD/CHF has jumped 7.50% or almost 700 base points. In general, the support of the long term trend line was enough for a surge to start, which eventually broke past the 2021 and 2022 high levels at 0.9475. By May 10, the pair had reached 2019 levels, as it approached