Comments from Bank of England officials during the week, pointing to the need to reduce asset purchases earlier than expected, failed to lift the pound significantly. “The impact on GBP was limited, partly because the next step in the eventual policy normalisation process (rate hikes) remains still some way off. Despite the increasing Covid-19 cases, the UK...
Bitcoin broke out of yet another consolidation as selling pressure builds up with no buying in sight. The price has been consolidating since it reaches a low of 30000, and there's been multiple retest and rebound but none could gather any buying momentum. This week, we expect Bitcoin to continue trending down and will be waiting for a pullback towards 33000 to...
WTI has the biggest drop in 4 months as selloff persisted on a overheated oil prices. However, the price managed to close right above the rising channel, as well as the demand zone at 70. This week, we will attempt to long again at the current level. Should the support fails, we expect the price to retest he previous high at 66.
Nasdaq started the week strong but faced some significant selloff at 15000 psychological level in the last 2 trading days. Nevertheless, the trend is still clearly bullish and it is still trading within a minor rising channel, about to retest the bottom. This week, we will be looking for a buying opportunity to buy the dip at about 14600.
The gold successfully broke out of a consolidation but faced strong rejection on the last trading day. The break-above of 1825 should technically boost the price all the way to 1850 but it turned out to be another phrase of accumulation. However, the gold still ended the week with a bit of gains and still managed to stay supported at the bottom of a rising...
EURUSD fell through the week and reached a new low of 1.1775 right at the bottom of a symmetrical triangle. Although there's been multiple rebounds, none was sustainable and it's becoming clearer that EURUSD is falling within a falling channel and may persist on. However, as long as the price is still within the structure, we will continue to look for buying...
Bitcoin continued to consolidate further and the lower portion of the entire range. Since the most recent rebound from the 30000 low, the price has been creating higher lows while it also finds resistance constantly at the current equilibrium level of 36000. As of current, the price could very well be supported at the bottom of a rising channel and we might...
The oil prices faced a strong resistance near the equilibrium level 77, causing a sudden selloff but was able to find support and has rebounded off. The demand for oil will continue to increase or at least maintain a high capacity as the global economy recovers from the pandemic. The rising channel has been readjusted and the price is currently right in the...
Nasdaq was faced with a selloff but managed to recover quickly on the last trading day. Essentially, the market is trading within a rising channel and it is very well supported by moving averages, showing nothing but bullish. We continue to expect Nasdaq to climb further but will constantly face resistance over the course. This week, if the price come down at...
Gold has climbed for the 3rd consecutive week since it rebounded off from the neckline of a previous double bottom. Resistance is currently seen at 1815 as gold kept getting rejected multiple times and ranged for 4 days already. This could very well bring about another pullback based on the volume and the duration of the current bullish wave. However, given the...
EURUSD dipped lower and found stronger support at the bottom of the symmetrical triangle and finally the completion of a bearish Elliot wave. The price rebounded pretty well for the last 2 trading days with a bit of resistance but the buying wasn't really strong. It is also about to reach the top of the falling channel and may start to consolidate again without...
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Bitcoin continued through the consolidation and was able to find support from the bottom around 30000. The price is currently attempting to break a minor falling trendline and could potentially climb further towards the top of the range. However, we also expect strong resistance at the supply zone around 39000 where multiple moving averages find...
Oil prices trended again and broke yet another new high for the 5th consecutive week. The price has been climbing within a rising channel for more than 2 months, initially trading above the middle of the channel and now below the middle. Nevertheless, we continued to see a resurgence of buyers after every pullback and we shall maintain our bullish view for...
Nasdaq broke 3 new consecutive historical highs in a week, rising through the week along with DJI and SPX. There is no sign of selloff and the market just kept buying the dips which will probably last through a couple more months. Nasdaq has been climbing strongly within a rising channel and the recent rebounds came right at the middle of the channel. If we...
Gold continued with its current consolidation but shown promising rebound right at the neckline of a previous double bottom. An inside bar was also formed as it reached the week low and it followed through with a break-above, showing a stronger conviction for the bulls. Therefore, we expect the gold to follow through with its rebound and potentially reach 1820...
EURUSD fell through the week but rebounded off from the key demand zone at 1.18 after and despite a highly positive NFP. That goes to show that the market has bought the news and is selling the facts where we can now expect more bullish momentum. While the price failed to break above the previous day high, it did break above a falling trendline in the H1...
In Weekly TF, we can see a Double Flat correction forming, And we are currently on wave B of the second Flat, I expect the price to get range in a few years from now between 80 to 100$. This Range should at least take till the end of 2021 and normally till the end of 2024. After that I expect another crash in oil price which should take price below 30$. What...