The USD/CHF currency pair has been on a steady decline following a significant reversal at the 0.9225 level, where the price started to exhibit bearish behavior. This shift in trend has captured the attention of traders and analysts alike, prompting a deeper examination of the market conditions and potential future movements. In analyzing the Commitments of...
The GBP/JPY continues its strong reversal from yesterday after reaching the 208.000 area, where a strong weekly supply zone has been present since July 2008. This significant resistance level has prompted the price to retrace. According to the latest Commitment of Traders (COT) report, retail traders and non-commercial participants are still holding long...
On Tuesday, GOLD retested a minor demand area on the daily chart, showing a clear rejection and strong reaction from this level. This technical move coincides with significant shifts in the Commitment of Traders (COT) report, suggesting a potential bullish outlook for the precious metal. The price action on Tuesday was notable, as GOLD's rejection at the demand...
The Japanese Yen (JPY) continues its upward momentum against the US Dollar (USD) for the fourth consecutive session, reaching the 152.000 mark yesterday. This strength in the Yen is attributed to traders unwinding carry trades in anticipation of the Bank of Japan’s (BoJ) policy meeting next week. The upcoming BoJ meeting is highly anticipated, with expectations...
Consider the journey of Bitcoin: from its humble beginnings valued at mere pennies to surpassing $60,000 over the past fifteen years. While many foresee Bitcoin's continued ascent over the next decade and a half, what about its trajectory in the near future? Let's delve into some speculation about where Bitcoin might be headed by 2025. Despite its notorious...
As anticipated, the EUR/GBP currency pair has found support around the 0.8400 level, aligning with our previous forecasts. This area has proven to be a strong demand zone, where buyers seem poised to initiate a retracement, potentially driving the price higher. Currently, the EUR/GBP pair remains within a consolidation phase. However, market sentiment indicates...
The GBP/USD pair is currently retesting a previous strong supply area, with the price in an overbought condition. This situation presents a compelling opportunity for a bearish position for several reasons: 1. Overbought Condition: The price has reached an overbought level, suggesting that a reversal or pullback could be imminent as buyers may be exhausted and...
EUR/USD is experiencing a decline for the second straight day, trading near 1.0880 during the London session on Friday. This drop is primarily driven by a stronger US Dollar (USD), fueled by heightened risk aversion in the market. From a technical perspective, we've identified a supply area on the EUR/USD chart where a price reversal is likely. While there is a...
AUD/USD extends its gains on Thursday despite the release of soft Consumer Inflation Expectations for July by the Melbourne Institute, reflecting subdued consumer expectations on inflation over the next 12 months. The upward movement in the AUD/USD pair is underpinned by increasing speculation that the Reserve Bank of Australia (RBA) might delay joining the...
The NZD/USD currency pair may be entering a new bearish trend. After retesting the 0.6220 area, the price experienced a technical rebound at the resistance level, subsequently revisiting the previous supply area. This sequence of movements indicates a potential downward trajectory. In our analysis, we have observed that the market dynamics are aligning with a...
US crude oil prices continue to fluctuate within a sideways trading range, currently hovering around the $82.00 mark. This consolidation phase has presented an intriguing supply area, suggesting a potential bearish movement in the near term. In this context, it's essential to consider the positions of various market participants. Commercial traders, who often...
Natural gas is entering a seasonal phase where the price is attempting to retest a previous demand area. This zone is significant as commercial traders begin to accumulate positions, signaling a potential opportunity for a long position. Our current approach is to identify the optimal reversal point to capitalize on this anticipated uptrend through the beginning...
The EUR/GBP currency pair has recently rebounded off the critical 0.8400 level, aligning perfectly with our identified demand zone. This confluence of technical and fundamental factors suggests a potential bullish scenario for the pair. Firstly, the price action at the 0.8400 level has demonstrated a clear rejection, indicating strong buying interest in this...
After successfully reaching our previous profit target for Palladium, we are now on the lookout for a new potential demand zone for this precious metal. Based on current market trends and historical data, the price of Palladium may drop to the $900 level, which could serve as a critical support area and trigger a reversal. This anticipated reversal aligns with the...
The EUR/USD is taking advantage of the selling pressure surrounding the US Dollar (USD), providing a boost to the pair and breaking through the previous supply areas around 1.0900. The sharp decline in the USD/JPY pair, following comments from Japanese Vice Finance Minister for International Affairs Masato Kanda about potentially responding to excessive FX market...
The USD/CHF continues to decline and may encounter its first support in the demand area around the 0.8800 level. This ongoing downward movement has prompted us to close a previous short position on this pair, which you can find linked below. Recently, the Swiss National Bank (SNB) reduced its key interest rate by 25 basis points for the second consecutive...
The USD/CHF pair experienced notable selling pressure around the 0.9100 mark on Thursday during early European trading hours. This downward movement was primarily driven by the Swiss Franc (CHF) gaining traction following the release of a stronger-than-expected Gross Domestic Product (GDP) report for Switzerland in the first quarter (Q1) of 2024. As a result, the...
Anticipating a Bearish Impulse for Palladium Before Seasonal Growth We are anticipating a final bearish impulse for palladium before a seasonal uptrend begins at the end of the month. Following a recent rejection at a supply area around $1,050, coupled with the overbought condition of the RSI and an exhaustion daily candle, we see potential for another downward...