Gold was trending downwards at first but managed to rebound strongly at 1720. It was managed to break above a falling trendline and created a higher high against two previous lower highs. This is a strong sign that the gold will be able to recover further this week and therefore we can look to buy again if the price does pulls back lower before another...
EURUSD has broken below yet another important demand level at 1.1630 and closed with a very bearish weekly candle. The dollar is clearly strengthening amid tightening expectation from the Fed grew stronger. The trend is clearly bearish and thus we will continue to wait for selling opportunities. If the market continues to find support at the beginning of the...
Gold has opened to more downside since the weekly demand level 1760 was taken out. We now have little doubt that gold will retest its 14-month demand level just under 1700. Therefore, we plan to keep selling the pullback on every visible short-term downtrend. For today, we will be waiting for the pullback to the trendline at 1744 to sell. A spike or a final...
GBPUSD broke out of a minor range and headed south, essentially reversing the course of a short-term bullish trend. Overall, the market is still seen trading within a range between 1.3960 and 1.3610 and it is most likely to continue heading down towards the bottom. We can also see a symmetrical triangle forming so the rebound from the bottom may take place a...
WTI has continued with its bullish trend as it defied a rejection from a falling trendline and went ahead to breakout of it completely. By now, it is becoming clear that the oil market will continue to rise as demand continues to rise as well during this recovery period. This week, we will wait for a pullback beyond 71 and look for a buying opportunity in the...
4 months of a bull-run and we finally saw a 2nd consecutive bearish weekly candle. As major central banks work towards tightening of monetary policies, a major correction in the stock market will follow and this could be it. This week, we aim for nothing but sell, awaiting pullback to 15400 - 15450 area. Our final target will be at 14600 for now.
The selloff of the gold continued through last week and trades steadily below 1800. A rebound that came last Friday was easily wiped out, essentially trapping more buyers. The market is clearly feeling bearish and we expect a revisit of the 15-month demand at 1700 in the upcoming week or the next. We could still see a potential upside back to 1770 - 1780 area...
EURUSD has extended fall last week, resulting in a 2nd consecutive bearish week. The price has now reached a strong demand zone from 1.1730 onwards to 1.1700. At this point, an inverse HnS could still be formed since the right shoulder support isn't completely broken. Besides, the market is already trading at a low of the entire range and there will definitely...
The gold fell just a little after a very bullish recovery from the week before amid a strengthening dollar. The gold has ranged throughout the week as it stayed resisted by the supply level at 1795. The dollar has strengthened through the week on a hawkish Fed to start tapering this year and most pairs against the dollar had turned bearish but gold was somewhat...
EURUSD had another bearish week right after a short recovery from the week before, essentially breaking new low again. While reviewing our past weekly forecast, it actually followed an ABCD pattern based on the weekly timeframe and shall be completed this week should the price drops further into the demand level at 1.16. The dollar has been strengthening weeks...
Bitcoin has remained bullish for the 5th consecutive week and it has now regained more than 50% of its previous losses. There's been a growing sentiment that the crypto-market has resumed a bullish trend as demand for crypto payment is growing in different sectors. but right now, bitcoin is about to face a very key supply level around 50,000 mark and may bring...
WTI just recorded another record-breaking drop in a week, showing no sign of stopping even in the last trading day. The oil price has definitely reached an extremely overbought level and it should not be any surprise to see major correction like this. Do keep in mind that oil is still in a bull market and it's very likely that oil demand will reach another...
Nasdaq pretty much recovered from a dip last week and is about to retest its current high at 15170. For the past couple of weeks, we have been waiting for a major correction in the stock market amid a strong sentiment of tapering from the Fed. Ironically, both the S&P and Dow continued to break new high except for the Nasdaq which continued to range around...
The gold plunged to a 14-month low at as the market opened last week. It quickly made a sharp rebound and continued to climb through the rest of the week, showing a build up in the buying momentum. As of current, the gold may face some resistance at the FR618 level, and slightly higher will be the breakout level at 1795. This week, we expect the market to shed...
EURUSD broke lower at the beginning of last week but ended with a strong bullish candle on the last trading day. The strong bullish rebound came from the lowest point of an 8-month market range which helps explain the rebound itself. Despite growing sentiment of a rate hike by the Fed, the dollar has already strengthened for the last 3 months. That means there...
Bitcoin has turned out just the way we have forecasted, pulling back at first and eventually forming another bullish wave. It has even broken above key resistance level at 42000 over the weekend and will certainly invite more buyers at this point. However, Bitcoin is about to face the real challenge, the key supply zone around the price of 50000. Although we've...
WTI gained a little at first and fell through the week by more than 6 USD. This is due to a surprise increase in the US oil inventories, showing that the delta variant might have a huge impact in curbing the demand for oil. At the same time, the OPEC+ has also agreed to increase the oil supply to keep oil prices from going higher. Nevertheless, as most...
Nasdaq continued to climb higher but, forming 3 consecutive bullish candle before finally turning bearish on last Friday. Interestingly, Nasdaq is the only US indices that turned bearish whereas both the Dow Jones and S&P were still bullish. This is because Nasdaq is heavily fueled by stimulus and a strong NFP data last Friday signals for the tightening of...