Gold H4 Played out exactly as expected after posting yesterdays analysis, would have preferred to see a larger breakout, however, with the DXY break and bullish gold sentiment, I feel this is what we could see today. Eventual targets of $1900/oz. One step at a time, one high at a time...
We are highly likely to see a strong recovery in the New Zealand Dollar Against the U.S Dollar as interest rates in New Zealand continue to rise. Markets expect the Reserve Bank of New Zealand to raise the cash rate to 3.50% by year-end, which will be a premium 0.75% to 1.00% Interest rate over the U.S. This means any investors holding short positions in NZD/USD...
AUDUSD being one of the key risk on pairs, got very close to 0.73 which served already as resistance in January looks to be a likely turning point and return to strong sell off on Risk on assets (crypto and equities). DXY also breaking above recent levels continuing over a year long move from lows ahead of J Powell's speech later on today and ADP/NFP numbers this...
Tesla appears to be failing against all-time-highs. I will look to enter a short position and will update here once the transaction is complete.
Following macroeconomic environment, with inflation reporting this week followed by upcoming central bank FOMC meeting in early may (rate hikes & balance sheet reductions)... the following high-level SR zones are key levels to watch. Assuming broader markets are going to experience a significant correction as the Fed loses ability to leverage QE & stimulus in...
Supported by the news that Russia and Ukraine have held their fourth round of talks. Markets are taking a breather to retrace some of the risk-off movements that took place last week. After breaking below the key support level of 1950 dollars, gold has been gaining more bearish momentum. When looking for the next support and resistance levels, focus on the...
Price is showing signs of exhaustion on 4H charts. This is evident by the Bearish RSI Divergence on the RSI. Have a look at the link below for the advanced technical and fundamental idea behind this setup. For more complete information, the main 4H chart provides all the required details. Cheers, I hope you find this insight helpful. Please LIKE & FOLLOW for...
With inflation running at decades high, USDJPY has been gaining a lot of momentum in the past few weeks driven by the FED's outlook on hiking rates. With the WAR between Russia & Ukraine contributing hugely to the already spiking inflation across the globe, the FED would probably be inclined to tame this by raising interest rates. But what is the FED's latest...
Ukraine woes still weigh on global markets and although gold has retraced significantly, it is still hanging onto the high 1900's. Positive news is incoming as we compose this thread including Putin acknowledging "positive undertones" in Ukraine talks . We have given up the 2000's after touching highs at 2070. After finding support at 1982, we appear to be...
Bonds have smashed through relative lows in the mid 126's to find support at 126'00 which appears to be a technical and psychological level. We have added this as a technical level on the chart. ZN has been on a clear decline falling 3 handles from the 129's to the base of the 126's. The Kovach OBV is on a steady decline, but does appear to be leveling off...
EURGBP faces multiple upside resistance. The descending long term channel is still holding strong and any impulse up-move would likely be met with stern resistance. Fundamentally the EURO is under enormous pressure as well. Looking at the main weekly chart, we could clearly see that the major support break has already taken place that was held on multiple...
With OIL gaining traction everyday since the conflict began, the commodity linked/ OIL linked CAD has been seesawing against the in demand SAFEHAVEN USD. Based on the daily technical picture, we can see this statement backed by rising strong ascending trendline on our main chart. USDCAD now would likely take a dig at its next target located at 1.29400. However...
This market has been ranging for quite some time now, even the start of the conflict between Russia and Ukraine did not have much impact on this pair!. The reason being simple enough, they are both safehaven currencies and in risk off markets they are both in demand. However, since Switzerland is in EUROPE, the conflict would likely increase the demand for the...
With weekly candle breaking out from the descending channel, the price is ready to target the next high at 0.75000. The price also formed good support at 0.70000 area with RSI indicating a bullish divergence! With that all said, it is advisable to wait for the price to retrace at the desired level and then execute a LONG trade. Trade can be invalidated if...
With Risk OFF mood especially hitting both EUR & GBP hard, it is well known that the common shared currency EUR has more painful future compared to the GBP! Here we look at the weekly chart that might support our view on this. First and most important step would be for the weekly candle to close below 0.82900 major support. By doing so, it would ensure a major...
Since COVID-19 crisis eased around the globe from last year, we have seen a RISK ON mood in the markets thus propelling USDJPY to its recent highs! However at the moment the crisis between Russia and Ukraine has given this pair an excuse not to go higher. The safehaven status of the JPY is preventing this pair from heading higher and therefore we can assume its...
1\At the chart of H4, xauusd continues raising above the uptrend line. 2\Risk aversion supported the rise in prices 3\If the price breaks out 1880,it means that maybe enter a bearmarket.
The target of 1,1160 was completed and price went even lower. It's time for the next one! Before that though, we should wait for the pullback which could reach the levels around 1,1290. We could look for a possible reversal there and use that as our entry. This is totally possible to happen in the beginning of next week, which means that during today we...