The Nasdaq 100 moved higher as expected. The price has now formed a possible double top with a neckline at 21,200 and a target of 21,884. The pattern might morph into an ascending triangle, which would favor the bulls.
Tactically, traders have a few options for betting on the trend and a potential Christmas rally. One option is to wait for a decline to the...
EURUSD has been forming an inverse head and shoulders since November 14. However, it’s too early to assume prices will head higher, especially given the fundamentals, which all favor the downside. Coupled with yesterday’s slide, this suggests prices could move lower as long as they remain below 1.0550. The next support levels are 1.0465, followed by 1.0425. What’s...
Last week, we highlighted a small triangle pattern that triggered, but the price retraced to the entry level. Examining today’s price action and focusing on price points from November 22nd, an inverse head-and-shoulders pattern appears to be forming. This suggests that a break above $98,265 could lead to a rally toward $106,646 per coin. Alternatively, it might be...
Gold prices are trading within a triangle, which itself is nested inside a larger triangle. Predicting the next move is, therefore, tough. Yet, the fundamentals are clearer and not in gold's favour. On one side, Trump is attempting to broker peace between Ukraine and Russia, and on the other, potential tariffs from the new Trump administration are boosting the...
Brent crude oil prices are stuck in a large descending triangle, with a breach to $70.31, the lows from October and September, suggesting a decline to $64.27 per barrel, representing a potential slide of 8.47%. However, if the price breaks above the trendline side of the pattern and surpasses the November 25 high of $74.83, it could rise to $79.91.
This...
GBPJPY remains in a strong downtrend but is approaching daily support levels, making caution essential. The risk-to-reward ratio favors a downside move between 191.75 and 192.63. If the price turns lower from these levels, a retest of the low 190.46 would be a reasonable expectation. However, a push above 192.63 could signal the start of a reversal.
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AVAX reached the target we highlighted a couple of days ago, and the price has now formed a bearish head and shoulders pattern. This pattern suggests that if the price drops below $38 per coin, AVAX could head substantially lower. However, with the fundamentals and trend being bullish, it seems unlikely that that will happen at this time. Instead, we trust the...
Bitcoin most likely bottomed out yesterday, following a 9% correction from its all-time high. However, the price is stuck in a triangle pattern in the short term. There are three exciting scenarios to watch.
If the short-term trend observed yesterday holds, the price could bottom out in the 92k and 94k range.
The alternative, and perhaps a safer setup to some...
EURUSD is currently correcting against the overall downtrend. However, a break below 1.0455 without reaching 1.0475 is likely to signal a resumption of the bearish trend, potentially driving the price toward the Friday afternoon low of 1.0392.
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Ethereum prices have been trading sideways since November 21 but remain in an overall uptrend. The current stall is due to the price struggling to break the July 2024 high of $3,564. Traders who are not already long will likely wait for a corrective move to the $3,238–$3,342 range to improve their risk-to-reward ratio.
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The USDJPY remains firmly bullish above 153.08. As long as the price stays above this level, it may reach 155.50, followed by 156.
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The 46% surge in the China A50 index appears set to deflate further as investors factor in trade tensions and the absence of significant stimulus from the Chinese government to support the economy. The bearish trend is likely to persist as long as the price remains below 13,453.
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A triangle pattern, triggered earlier today, indicates that AVAX might extend its recent gains. Interestingly, several "dino" coins have been rallying lately as the MEME frenzy fades. This bullish pattern remains valid as long as the price stays above the $35.54 low.
What is your take on Avax?
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Solana has triggered a descending triangle pattern with a target of $261.60 per coin. If the price reaches the breakout point of the pattern at $243 per coin, buyers are likely to step in and support the price. The pattern will remain valid as long as the price stays above $235.
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EUR/USD has been consolidating between 1.0512 and 1.0606 over the past week, indicating a pause in the downtrend. This consolidation may serve as a correction, allowing the market to transition from oversold to neutral conditions.
A decisive break below 1.0512, especially during the London session, could lead traders to target support levels at 1.0450 and 1.0425,...
SOL is about to hit the target of $249, which we mentioned at the beginning of November. Moreover, it could enter discovery mode with the price potentially breaking above the 2021 high. The very short-term trend remains bullish, above $236 per coin, and traders not already long might buy dips starting from $243.50, targeting $250 and $260 per coin.
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Silver prices have bounced 3.75% from their low on November 14th. For now, the area around $30 has held. This suggests silver prices have bottomed and could head higher, but the short-term trend remains steeply bearish. Therefore, waiting a few days for confirmation is likely better. As it stands, the trend remains bearish below 31.15, with traders targeting 30.23...
EURUSD remains bearish below 1.0620, with traders likely targeting further downside.
Last week's U.S. inflation rose to 2.6% annually, which is too high, with core inflation steady at 3.3%. Jobless claims dropped to the lowest since May, with initial claims falling by 4,000 to 217,000, indicating a resilient labour market. Both data points reduced the chances...
