SmoothJB

SmoothJB

The euro initially gapped higher to kick off the Monday session but has given back all of the gains to slam into the 1.05 level again. The 1.05 level is an area that should continue to attract a lot of attention because it is a large, round, psychologically significant figure, and the fact that it is an area where we have seen support and resistance in the past....

SmoothJB

I wrote in my previous piece on this currency pair on 27th April that the price was still making lower lows and lower highs, which suggested the medium-term bearish trend was still in force. Therefore, I was looking for a bearish reversal at 0.7235, which would present an attractive short trade entry point. I was correct about the primary direction of the day,...

SmoothJB

The NZD/USD hovered near the 0.64100 ratio yesterday and remains within the weakest part of its long term price range as of today. Values of the NZD/USD are traversing prices not sincerely tested since June of 2020. However it should be noted that on the 4th of April, almost one month ago, the NZD/USD was trading near the 0.70300 vicinity. Traders are certainly...

SmoothJB

The British pound broke down significantly last week, reaching down to the ¥160 level. The ¥160 level is an area that is a large, round, psychologically significant figure, and the fact that we bounced from there should not be a huge surprise. The question now is whether or not we can break above that massive shooting star from the previous week? I suspect we...

SmoothJB

The Euro has had a very rough month of April, and the way we are closing out the month suggests that we may have further negativity ahead. It is worth noting that we have tested the 1.05 level, an area that is a large, round, psychologically significant figure. This area could offer a little bit of profit-taking and a short-term bounce. However, that bounce should...

SmoothJB

BTC/USD may be about to open its May trading below the 40,000.00 mark. Even if a sudden spurt upwards develops it will have to be strong to create a positive short term outlook for Bitcoin. The biggest and most famous cryptocurrency among the heap still remains ‘champion’, but a return to its bearish trend has likely caused some speculative fatigue among BTC/USD...

SmoothJB

XRP/USD has cascaded lower in the past day of trading, and is approaching troublesome mid-term values as support levels have proven vulnerable. As of this writing XRP/USD is traversing only slightly above the 64 cents mark, this after suffering a steep downward trend. On the 28th of March XRP/USD was near the 91 cents juncture and sentiment appeared ready to...

SmoothJB

ADA/USD appears ready to begin the month of May near very troublesome lows, and if current support is proven vulnerable trading may grow more nervous. The month of April started out on an extremely positive note for Cardano. A high of nearly 1.25000000 was tested on the 4th and the high came within shouting distance of early February values. Traders who were...

SmoothJB

ETH/USD is near the 2850.00 price as of this writing. On the 3rd of April Ethereum was trading near the 3580.00 price level, a juncture ETH/USD had not touched since the first week of January. However, after hitting this mid-term high ETH/USD then produced a rather steep downward slope. In fact ETH/USD is now testing values it has not traversed since the middle of...

SmoothJB

The downward trend of the EUR/USD currency pair is continuing. This path pushed the most popular currency pair in the forex market to the 1.0514 support level, the lowest in five years, and settled around the 1.0555 level at the time of writing the analysis. The decline continued amid investor concerns about growth and threats to energy supplies from Russia....

SmoothJB

After four trading sessions in a row, the USD/JPY currency pair moved on its impact, amid profit-taking sales, and it moved towards the 126.92 level. Strongly raising US interest rates to stem record inflation in the United States. The currency pair USD/JPY moved towards the resistance level 128.50 at the time of writing the analysis. The Fed may be on track to...

SmoothJB

The British pound has had a very rough month for April, just as almost all currencies have. The only currency that seems to be doing very well is the US dollar. The Bank of England has announced that they are not willing to sell off the assets on its balance sheet, so this means that they are not quite as hawkish as the Federal Reserve. If that is going to be the...

SmoothJB

The West Texas Intermediate Crude Oil market has been very tight during the month of April, and it now looks as if we are trying to build up enough momentum to make a bigger move. It is worth noting that the uptrend line of the triangle is still very much intact, so you should pay close attention to it. It is as if the market is trying to determine whether or not...

SmoothJB

The Canadian dollar bounced on Wednesday at the ¥99 level, an area that should capture a lot of attention because it has historically been very important. Furthermore, we had initially seen a major push lower when we pierced that level for the first time, so now that we have pulled back to retest this area, a bit of buying pressure would make quite a bit of sense....

SmoothJB

At this point, I would need to see one of these trendlines broken to put any significant amount of money to work.

SmoothJB

The Australian dollar initially rallied on Wednesday to reach near the 0.72 handle. By doing so, it shows a real chance of trying to recover. However, the market sold off almost immediately and has since looked very poor. By forming an inverted hammer, this suggests that the Aussie is still going to have a lot of overhead resistance. Because of this, I am not...

SmoothJB

The euro fell rather hard on Wednesday to reach the 1.05 area. This is an area where we have seen a lot of action in previously, and it is a large, round, psychologically significant figure. The 1.05 level would cause a lot of headline noise, and we have bounced well over 60 pips from that area. Because of this, I think it is probably only a matter of time before...

SmoothJB

The euro is approaching a very important region on the longer-term charts as far as support is concerned. The 0.82 level being tested is a big deal, and if we were to break down below that level, the bottom will follow out of this pair. More likely than not, we will get a short-term bounce, but I would be a seller of that move because without a doubt the euro is...