EURCAD nearly touched the two month HL trendline and the 4H MA200 today. With the 4H technical outlook on the red (RSI = 33.840, MACD = 09.994, ADX = 36.630) this is a strong buy opportunity on a one month time frame. The RSI getting oversold and rebounding, is following the path of the February 10th Low which rose slowly to nearly the 1.382 Fibonacci extension....
Nasdaq hit R1 (13,200) last Friday and with that our short term target. The 4H technicals remain bullish (RSI = 61.642, MACD = 91.200, ADX = 41.779), so are the 1D ones, within the long term Rising Wedge since October and the Triple Bottom that followed, so the trend remains bullish. After however the first 4H Golden Cross (on March 22nd) since January 18th, the...
The EURUSD pair saw a short term pull back to the 4H MA50 on Friday turning that time frame neutral (RSU = 50.420, MACD = 0.002, ADX = 38.536). As long as the 4H MA100 and the RSI's HL trendline hold, we will remain bullish and target the 1.5 Fibonacci extension and R2 (TP = 1.10350). The long term pattern remains a Channel Up. We model those levels after the...
XAUUSD run ranged all of last week and this is reflected on its 1D technicals, more specifically its flat RSI (RSI = 59.840, MACD = 25.590, ADX = 38.241). The Lower Highs since the March 20th peak are a sign of a possible top formation similar to late January. The RSI constructs are almost the same, we see a declining trend, which on January broke down after 14...
DAX has gone a long way since our buy recommendation 2 weeks ago (see chart below). The technicals on the 1D time frame are firmly bullish (RSI = 60.575, MACD = 68.200, ADX = 31.986) and the RSI in particular is out of its Buy Zone and approaching the top of the Channel Down. The index is trading inside a Channel Up for exactly 5 months and every bullish wave has...
Dow Jones hit (and closed over) the 1D MA50 on Friday for the first time in more than a month (Feb 20th last closing over it). With 1D technicals on very healthy bullish levels (RSI = 60.420, MACD = 12.500, ADX = 35.536) this is a very positive sign on the long-term. Especially since the RSI crossed over the 4 month LH trendline. Our TP (33,450) from our trade...
The US10Y is trading inside a Channel Down on the 1D timeframe with the 1D technicals neutral (RSI = 46.172, MACD = -0.046, ADX = 31.478). With the 1D RSI coming off an accumulation that we've seen on the December and January bottoms, we expect the price to rise and approach at least the 0.618 Fibonacci. Our TP = 3.750. ## If you like our free content follow...
The S&P500 index formed a Channel Up with the 4H technicals indicating a healthy uptrend (RSI = 63.246, MACD = 19.720, ADX = 49.272). The 4H RSI is on Higher Lows of its own and the 4H MA50 is about to cross over the 4H MA200 and form the first Golden Cross since January 17th. A pullback will be an excellent opportunity for lower risk buys. The Fibonacci...
ETHUSD is on a Channel Up or Right Shoulder of an Inverse Head and Shoulders pattern, with the 1D technicals just coming out of neutral ground (RSI = 57.146, MACD = 35.420, ADX = 38.879). The Bear Cross on the MACD indicates a possibility for a pullback to the bottom of the Channel as in late January and February. That would be a huge technical buy, targeting R3...
BTCUSD is going for the 3rd straight 1W closing over the 1W MA50, a feat that we last saw on the week of November 29th 2021. This shows that the Bear Cycle is well beyond us, even the 1W technicals are healthy bullish (RSI = 63.821, MACD = 1086.700, ADX = 31.134). If this Cycle's pattern is a Triangle like 2018/2019 then at the moment the upside is limited to...
XAUUSD is forming a Head and Shoulders pattern on the 4H time frame with 4H technicals neutral (RSI = 51.658, MACD = 2.180, ADX = 22.110). The 4H MA50 has already broken and negated as Support, the 4h RSI is approaching the top of its Channel Down and the 1D MA50 is about to enter into the S1 Zone (1,890 - 1,900). Being above the 0.618 Fibonacci retracement level...
The EURUSD pair is bullish both on the 4H technicals but more importantly the 1D ones (RSI = 59.116, MACD = 0.003, ADX = 37.754) as this indicates a healthy uptrend. This is supported not only on the 1D MA50 but also on the RSI's HL trendline. The long term pattern is a Channel Up that is aiming at a Higher High. We are bullish and will aim at an R3 test, TP =...
The WTI Crude Oil is being currently rejected on the 4H MA200 but with 4H technicals naturally bullish still (RSI = 61.154, MACD = 1.320, ADX = 61.771). This is due to the strong 9 day rally since the price made a bottom on the LL trendline of the Channel Down of December. The 4H RSI also got rejected on the 70.000 overbought level and 5 times out of 6 within...
Despite the recent pull back, Nasdaq's 1D technicals (RSI = 56.406, MACD = 181.190, ADX = 32.325) remain bullish. The long term bullish trend is seen also on the 1W time frame where the RSI is also above 56.000. On this long term chart we can see that since the first test on R1 (12,900) on February 2nd, all MA periods have come to Support, even forming a 1D Golden...
Dow Jones remains neutral on the 1D technicals (RSI = 47.239, MACD = -227.510, ADX = 31.577) as the price has been mostly ranging for 2 weeks between the 32,600 Symmetrical Resistance and 31,800 Symmetrical Support. Todays rejection should give one more pull back to the Symmetrical Support if the 4H MA50 breaks. On the other hand, a full 4H candle closing over...
BTCUSD is on a short term pull back with the 1D technicals bullish (RSI = 60.143, MACD = 1080.300, ADX = 37.344) but much less overbought than previously. Having crossed over the Inverse Head and Shoulder's Resistance (25,250), this pull back is most likely the Bull Flag that will retest is as Support, along with the 1D MA50, and will rebound to Resistance 2...
The U.S. Dollar Index is retracing its weekly losses to more than 50%. The rejection on its 1W MA50 though two weeks ago, maintains the long term bearish trend and that retracement makes it a sell opportunity again. With 1W technicals still in red (RSI = 41.988, MACD = -0.570, ADX = 23.107) and the MACD in particular on the same level as the start of the final...
The S&P500 on the 1W time frame remains technically neutral (RSI = 51.005, MACD = 10.190, ADX = 35.849). Large reason why it has done so is because it has been ranging between the 1W MA100 and 1W MA200 for 22 weeks (154 days). That is a significant period that isn't that indicative of a bottom formation. There is still a large portion (could even be the majority)...