SmoothJB

SmoothJB

The Australian dollar fell during the trading week, breaking below the 0.74 level. This was preceded by a massive shooting star at the 0.75 handle, so it all ties together quite nicely. I suspect at this point in time that any short-term rally that you get is more than likely going to be an opportunity to short this market again. That being said, a breakdown below...

SmoothJB

The British pound has rallied again against the Japanese yen, breaking through a major barrier in the form of the ¥165 level. That being said, we are overstretched, so I think this is a situation where you may look for a short-term pullback in order to get involved again. The ¥162.50 level should be supported, just as the ¥160 level will be. That being said, I do...

SmoothJB

The euro continues to get punished, and I think at this point we are getting ready to attempt to break down below the 1.08 level. Having said that, there is a significant amount of support here, so a short-term rally is almost certain to happen. Nonetheless, this should end up being a nice shorting opportunity and at this point, I have no interest in trying to buy...

SmoothJB

Gold markets initially pulled back during the trading session on Thursday but then turned around to show signs of life again. This confirms that the $1970 level has a bit of “market memory” attached to it. This is an area that previously had been resistant, and now should be supported on pullbacks. Because of this, the market looks as if it is going to continue...

SmoothJB

he Euro initially tried to rally during the trading session on Thursday, but then fell rather hard to pierce the 1.08 level. This was a major breach of support, although we did recover a bit after that move. This tells me that there is still plenty of downward pressure on the Euro, and during the day we also learned that the EU considers paying for Russian natural...

SmoothJB

The British pound had a very bullish Wednesday session, but during the day on Thursday, we started to see that unravel a bit. Initially, the market did take off to the upside but then turned around to fall rather hard. By doing so, the market shows just how precarious the situation is for the Sterling bulls. The biggest problem is probably not so much the British...

SmoothJB

The Australian dollar initially rallied during the week but gave back the gains to show signs of hesitation. The RBA initially shocked the market to the upside by dropping the word “patience” from the statement, thereby having people think that they were closer to raising rates. However, the FOMC minutes released were very hawkish, and we started to see money flow...

SmoothJB

The British pound rallied against the Japanese yen quite significantly during the trading week, reaching the ¥162 level. This is an area that could offer a little bit of resistance, and it should be noted that the market is overextended. The previous week was a massive shooting star, so it will be interesting to see if we can break above there. If we can, then it...

SmoothJB

The euro fell significantly last week to crash into the previous support level near the 1.0850 area. At this point, the market looks as if it is trying to break down, but it should be noted that this is an area that has shown a bit of support recently. Because of this, we could get a bit of a bounce, but I think a bounce will more likely than not end up being a...

SmoothJB

The weekly price chart below shows the U.S. Dollar Index rose strongly last week, in line with the long-term bullish trend, printing a bullish candlestick that closed in the top quarter of its range. This was the highest weekly close seen since May 2020. The low of the weekly candlestick was not far from the support level at 12293. Dollar bulls will be encouraged...

SmoothJB

BEARS short sell any rips/bounces. for best results short from overhead. best entry: NEAR 9400/9420. TP1 BEARS +150 pips TP2 BEARS +250 pips. final TP BEARS is 9200.

SmoothJB

The Euro has rallied a bit during the trading session on Thursday but gave back the gains to form an inverted hammer. While this market continues to drop, the reality is that the strength of the candlesticks continues to shrink as well. This suggests that perhaps we could see this market try to make a turnaround rather soon, but we need to pay close attention to...

SmoothJB

ethereum has pulled back a bit during the trading session on Thursday but has found buyers by the end of the day to turn things around and form a bit of a hammer. By forming a hammer, this suggests that Ethereum is going to rally from here, perhaps trying to recapture the uptrend. Furthermore, the 50 Day EMA is reaching above the 200 Day EMA, forming a “golden...

SmoothJB

The West Texas Intermediate Crude Oil market initially rally during the trading session on Thursday to retest the 50 Day EMA and of course the previous uptrend line. Because of this, it looks as if the downtrend is intact, and I do think that it is probably only a matter of time before crude oil breaks rather significantly, perhaps reaching the $95 level early...

SmoothJB

The US dollar has rallied significantly during the trading session on Thursday to continue the recovery against the Canadian dollar. The 1.25 level has offered significant support multiple times, and it looks as if we are rallying away from that level. The 50 Day EMA above is offering a bit of dynamic resistance, and it has broken down below the 200 Day EMA. That...

SmoothJB

Westwater Resources Inc (NYSEAMERICAN:WWR) possible double bottom formation while the stock is breaking out of a small falling wedge. If the 1.60 level continues to hold as support, a retracement rally back towards 2 looks achievable.

SmoothJB

Freeline Therapeutics Holdings PLC (NASDAQ:FRLN) Another small bio name trading below cash and yesterday the stock saw unusual volume of nearly 3M, way above the average volume of 300K. It looks ready for a strong move. Definitely on watch.

SmoothJB

Achilles Therapeutics PLC (NASDAQ:ACHL) is another undervalued small bio cancer play like PHIO with $6 per share in cash and many upcoming catalysts and presentations. Low risk swing from here. Watch the break of the declining EMA50 on volume for a strong rally to the EMA200 that lies at 6.21 I have been accumulating.