Gold has been struggling to maintain the values that it reached during the spring of 2022 over recent months, and by the middle of July it had reached a 1-year low.
Whereas the prices in May had reached $1,980 per ounce, Gold had dropped to $1,700 by July 14.
Today, however, a slight upturn in the value of Gold has begun to make itself evident, and this...
The British Pound has been subjected to an onslaught of challenges recently.
These challenges have not been short term ones, either.
Over the past two years, there have been factors which have had an overreaching effect on the economic circumstances of most Western nations, including government-enforced lockdowns, which were the first in a series of policies...
BTCUSD: Triple Bottom Pattern Above $19640
Bitcoin was unable to sustain its bearish momentum and after touching a low of 18991 on 13th July started to correct upwards breaching the $22000 handle on 18th July.
We can see a continued appreciation in the price of bitcoin as global investor sentiments have improved leading to buying action seen in the markets at...
EUR/USD started a recovery wave above the 1.0200 level. USD/CHF is declining and broke a key support near the 0.9750 zone.
Important Takeaways for EUR/USD and USD/CHF
· The Euro started a decent recovery wave above the 1.0150 zone against the US Dollar.
· There is a key bullish trend line forming with support near 1.0225 on the hourly chart of EUR/USD.
·...
ETHUSD: Hanging Man Pattern Below $1627
Ethereum was unable to sustain its bullish momentum and after touching a high of 1627 on 19th July started to decline against the US dollar coming down below the $1500 handle in the European trading session today.
We can see that ETH is losing ground against the US dollar and no major uptrend formation was seen.
The...
Gold price started a major decline below the $1,725 support zone. Crude oil price is attempting a fresh increase from the $88.80 support zone.
Important Takeaways for Gold and Oil
· Gold price struggled above $1,740 and declined against the US Dollar.
· Recently, there was a break above a key bearish trend line with resistance near $1,705 on the hourly chart of...
GBP/USD started a recovery wave above the 1.1950 resistance zone. GBP/JPY declined and remains at a risk of more losses below 163.00.
Important Takeaways for GBP/USD and GBP/JPY
· The British Pound started a recovery wave above the 1.1950 resistance against the US Dollar.
· There is a major bullish trend line forming with support near 1.1960 on the hourly chart...
The incessant increase in the price of oil over recent months has been a moot point for many people, especially those in western countries who are now having to battle with the cost of paying for their domestic heating or the painful cost of buying fuel for their car.
What appeared inconceivable last year when oil prices were very low and had only just begun to...
BTCUSD: Bearish Engulfing Pattern Below $24262
Bitcoin was unable to sustain its bullish momentum and after touching a high of 24195 on 20th July started to decline against the US dollar dropping below the $21500 handle in the European trading session today.
We can see that after this decline the prices have entered into a consolidation zone above the $21000...
EUR/USD started a fresh decline and traded below 1.0150. EUR/JPY is attempting a recovery wave and might rise if it clears 139.50.
Important Takeaways for EUR/USD and EUR/JPY
· The Euro started a major decline from the 1.0250 and 1.0280 resistance levels.
· There is a short-term contracting triangle forming with resistance near 1.0145 on the hourly chart.
·...
ETHUSD: Bullish Engulfing Pattern Above $1357
Ethereum was unable to sustain its bullish momentum and after touching a high of 1661 on 25th July started to decline against the US dollar coming down below the $1400 handle on 26th July.
We saw that after this decline, the prices started to stabilize above the $1350 handle, and then a pullback action was seen in...
AUD/USD is gaining pace above the 0.6950 resistance. NZD/USD is also eyeing a key upside break above the 0.6300 resistance.
Important Takeaways for AUD/USD and NZD/USD
· The Aussie Dollar started a fresh increase above the 0.6880 resistance zone against the US Dollar.
· There is a key bullish trend line forming with support near 0.6955 on the hourly chart of...
GBP/USD started a fresh increase above the 1.2000 zone. EUR/GBP might attempt a recovery wave if it clears the 0.8430 resistance.
Important Takeaways for GBP/USD and EUR/GBP
· The British Pound started a fresh increase from the 1.1850 zone against the US Dollar.
· There is a key bullish trend line forming with support near 1.2120 on the hourly chart of...
BTCUSD: Evening Star Pattern Below $24607
Bitcoin was unable to sustain its bullish momentum and after touching a high of 24597 on 30th July started to decline against the US dollar dropping below the $2300 handle in the European trading session today.
We can see that after this decline the prices have entered into a consolidation zone above the $22500...
EUR/USD started another decline from the 1.0300 resistance. USD/JPY is declining and might continue to move down below 137.00.
Important Takeaways for EUR/USD and USD/JPY
· The Euro started a fresh decline and even traded below the 1.0200 support.
· There was a break below a key bullish trend line with support near 1.0205 on the hourly chart of EUR/USD.
·...
ETHUSD: Three Inside Down Pattern Below $1783
Ethereum was unable to sustain its bullish momentum and after touching a high of 1762 on 30th July started to decline against the US dollar coming down below the $1600 handle on 02nd Aug.
The selloff that we saw was due to the strength of the US dollar and its subsequent effect on the price of ETHUSD.
We can...
GBP/USD could gain pace if it clears the 1.2100 resistance zone. USD/CAD is surging and could continue to rise above the 1.3000 resistance zone.
Important Takeaways for GBP/USD and USD/CAD
The British Pound is attempting an upside break above the 1.2100 resistance zone.
There is a key bearish trend line forming with resistance near 1.2100 on the hourly...
BTCUSD: Bullish Engulfing Pattern Above $22425
Bitcoin was unable to sustain its bearish momentum and after touching a low of 22431 on 04th Aug started to correct upwards against the US dollar crossing the $24000 handle on 08th Aug.
We can see that bitcoin failed to clear its resistance zone located at $25000 for the second time this month.
After touching a...
