A bullish wedge pattern may be confirmed on the daily gold chart. Confirmation and a breakout of the pattern could lead to further price movement towards the resistance level of 2800.00. More consolidation may be possible in the short term, potentially leading to a longer validation period for the pattern and directional confirmation.
A possible bullish pennant could lead to higher price levels for GBP/JPY. The resistance at the 195.8500 price level must be broken to confirm forward momentum. There is a high probability of a downside move towards 194.8000 before moving upward.
A Head and Shoulders pattern has formed on Nvidia stock. If the second shoulder is confirmed, a price move towards 130.05 and 115.15 is plausible. Additionally, the Chinese government is investigating Nvidia for a possible anti-monopoly law breach, which could amplify the downward price movement if the H&S pattern is confirmed. However, if the pattern is not confirmed, further price movement
A descending pattern has formed on Light Sweet Crude Oil. The current pattern suggests that a potential move to the downside may occur in the next few days, breaking outside of the pattern. The descending triangle pattern may be considered a signal for a potential downward price movement. If bearish momentum continues and the wedge pattern breaks to the downside,
Year-to-date, the S&P 500 has risen by more than 25%, reaching all-time highs above 6000.00. The results of the U.S. presidential election have been seen as positive news for the broader market. However, the occurrence of a rising wedge pattern could signal bearish momentum if the pattern breaks to the downside. If bearish momentum takes hold, price levels of
Donald Trump's victory has positively impacted the crypto market, boosting both Bitcoin and altcoins, with XLM seeing significant price gains. Stellar coin has gained more than 380% since Donald Trump's victory in the U.S. elections. XLM is testing the 50% Fibonacci retracement at the $0.539 price level, and the 61.80% Fibonacci retracement at the $0.4389 level could act as
The EUR/USD has reached its lowest price level since October 23rd. A further break below the support level of 1.0500 would indicate a new trading range, with resistance at 1.0500 and a potential price level of 0.9685. Changes in politics have had a significant impact on the potential future trade between the Eurozone and the United States, considering the
Eventually, the 200-day simple moving average failed and the GBP/JPY pair passed above it. In late October, the pair reached the 200.00 level and the support and resistance range that surrounds it. The 200.00 mark acted as resistance and caused a decline. In mid-November, the pair was looking for support in the combination of the 50 and 200-day SMAs
Since the last review of the AUD/USD pair, the decline of the rate has been steadily continuing. One exception to the rule was the volatility caused by the US elections. However, the rate did remain in the borders of a channel down pattern. In the meantime, it has been observed that the pair has been finding support and resistance
Before the US elections, we noted that the US stocks have surged in a channel up pattern. The pattern was broken, as initially the stocks consolidated a week before elections and just before the event risk off sentiment came in. Namely, markets closed stock positions, hedged with options, futures etc... and brought the index down to 5,700.00. After the
The last review was done on October 08. In general, we remarked that a test of the high level range at 20,595.00/20,784.00 will take place, as the 50-day simple moving averages approaches. The index was finding support and consolidating near the moving average, as the US election results were revealed. Trump's victory signals to the market that there
Bitcoin has found support in 73,700 price level and looking for new resistance level, considering all-time high price level resistance has been broken. Meanwhile, 50-day and 200-day simple moving averages have been breached, which can indicate that higher price levels may be discovered. It is worth mentioning that more than 230 days, BTC has been trading within $73,700 to $52,000 price
The AUD/JPY was approaching the 110.00 mark, as the Bank of Japan changed policy and started monetary tightening. The change of policy resulted in a drop of the pair as low as 90.00. However, it was followed by a recovery that eventually stopped near the 102.00 mark and the 200-day simple moving average. A move above the 102.00 mark
The last review of the CHF/JPY was done in December 2023. In general, the article revealed that the rate's movements will be impacted by monetary policy, but the broader trend is aimed upwards. Moreover, the pair trades in a broad channel up pattern. In July, the rate bounced off the 180.00 mark and the upper trend line of
BTC has seen price recovery and heading towards all time high price resistance. Strong price recovery of over 27% has seen BTC closing the gap of the 73 100 USD price level. If 73 100 USD price level is rejected, further downside is possible to support of 60 000 USD and further levels of 53900 USD. Upcoming US elections
IAG or International Airlines Group is the result of the merger between British Airways and Iberia Airlines. Namely, the top UK and top Spanish airlines merged into one entity, before buying up even more airlines. In general, the firm has been recovering since late 2022, when in the aftermath of COVID the stock price reached below the 100
Sunac Holdings. In general, the firm is a major property developer. The stock of the firm was valued at 50.00 HKD, before the COVID pandemic and the follow-up 2020-2023 Chinese property crisis. During the crisis, the sector experienced a major decline, as the Chinese economy did not only slow down, but its real estate sector was hit by
The US stock index continues higher. In the meantime, note that it has confirmed the prior 2024 high level as support, together with the 5,700.00 mark. Moreover, it appears that the equities have the support of a potential channel up pattern. It can be drawn by connecting the August and September low levels and setting the parallel line at
Since the market sell off that occurred at the end of July and start of August, the German top stock index has gained more than 15.00%. Namely, the index found support in the range that surrounds the 17,000.00 mark and started a major surge. The surge overextended itself near 19,000.00 and a consolidation occurred. However, on a third attempt,
The surge of the US Dollar that started against the Canadian Dollar in early October has managed to breach the 50 and 200-day simple moving averages and the 1.3600 mark. Most recently, the pair has hit the early 2024 high level range near 1.3850. A move above the 1.3850 level is expected to be slowed down by the 1.3900 mark,
In September, the surge of the NZD against the US Dollar continued on, as the rate eventually reached the 0.6370/0.6410 zone. This range held, and a decline followed at the start of October. By mid-October, the rate appeared to have slowed down near 0.6100. A continuation of the currency pair is set to look for support in round exchange rate
While most cryptocurrencies have been in a cooldown mode, few cryptocurrencies have seen steady performance in price action. One of which is TRON (TRX). Tron has reached market capitalization over 13.5 billion dollars. Overall Year to Date TRX gains have reached over 50%, as well outperforming BTC by 4.2% year-to-date. Tron has found support of 0.14868 which has been a resistance
The AUD/USD pair managed to break the 0.6870/0.6900 zone. However, as the pair was confirming the range as support, the better than expected US employment data was published. The news are the catalyst of an ongoing sharp decline of the rate. The ongoing decline of the currency pair might find support in the combination of the 200-day simple moving
Since the last review of the US tech stock index on August 27, the index declined until it confirmed the 18,500.00 level as support. The event was followed by a recovery. By late September, the recovery had managed to break the resistance of the 20,000.00 mark. In the near term future, the index could reach the all-time high level range