The US10Y, a major driver for Gold, is trapped inside the 4H MA50 and 4H MA200, before tomorrow's Fed Rate Decision. This shows the market uncertainty surrounding this event as investors haven't yet chosen to pick sides. That keeps 4H neutral technically (RSI = 52.167, MACD = 0.014, ADX = 27.887) and we can only trade this with careful points that will be...
The US Dollar Index has now the opportunity to test the 4H MA50 as a Support, chaning the short term 4H technicals to neutral (RSI = 49.586, MACD = 0.050, ADX = 33.920). The last time this happened was early this month (January 4th). The 4H MA50 held and pushed DXY for a last peak and Lower High on the two month Channel Down over the 4H MA200. This time the 1D...
Dow Jones made a double hit on the Major LH trend line created on the December 13th top. So far it has failed to close above it, which is a bearish sign. Both 1D and 4H are neutral (RSI = 53.203, MACD = 57.710, ADX = 22.013). Our usual approach with candle closes suggests that one above the Major LH is bullish (TP 34,490 R1) and below the 4H MA50 bearish (TP...
The S&P500 index got rejected on Friday marginally under the R1 Zone (4,100 - 4,140) and is pullig-back having turned the 4H time frame neutral (RSI = 54.304, MACD = 15.240, ADX = 18.708). As we discussed previously, we are following the December fractal for direction. There was a Double Top rejection on R1 during December and when it broke under the 4H MA200, the...
XAUUSD broke under the 4H MA50 last week for the first time this year. It did so on four different 4H candles but all closed back above the 4H MA50, indicating that the long term bullish sentiment isn't easily shaken off. Technically 4H is neutral now (RSI = 49.050, MACD = 1.020, ADX = 23.949) with the RSI on its January S1. The pattern however which for the...
Bitcoin is extending the gains of the past 4 weeks since the start of 2023, successfully turning the 1W technicals bullish (RSI = 56.360, MACD = -1647.100, ADX = 34.695) after months of sell signals. Since last week, it entered the light part of the Kurutoga Cloud, which has never been done during the recent Bear Cycle. In comparison with previous Bear Cycles,...
The USDCAD pair reached the Higher Lows trend line for the first time since August 11th, which has been supporting the bullish trend for the past 6 months. The 1D technical outlook decpits the medium-term bearish correction (RSI = 39.227, MACD = -0.004, ADX = 28.712) but it can't continue unless the HL break. Since it has been the strongest Support of the past 6...
The USDJPY pair has reached the top of the Channel Down after a a rebound two weeks ago near both its bottom and Support 1. The 1D technicals remain bearish (RSI = 43.265, MACD = -1.260, ADX = 20.176) prompting to a continuation of this downward trend. The short-term target is Support 1, with a break below it capable of inflicting an extension as low as the...
DAX is technically bullish 1D (RSI = 63.054, MACD = 197.400, ADX = 59.303) but neutral on 4H as it broke below the 4H MA50. In a repeat of December 5th, we may see a strong pull back targeted at the 4H MA200, so be ready to sell below S1 with TP = 14,600. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are...
The EURUSD pair remains bullish long term as the 1D technicals are all green (RSI = 67.498, MACD = 0.008, ADX = 42.429) and the Channel Up since the middle of November intact. Right now the price is supported by the 4H MA50, which is our Bearish trigger. Under it we sell with TP = 1.07200 (bottom of S1). The Bullish trigger is over the top of the Channel Up, above...
Bitcoin maintains the solid structure of its Channel Up that has so far delivered two 14.80% rises. With 4H technically bullish (RSI = 65.196, MACD = 354.400, ADX = 30.451) there is no reason to stop buying at the bottom, until the 4H MA50 breaks. We are buyers on the S1 with TP = 25,500 and sellers below the 4H MA50 with TP = 20,700. The RSI's Channel Down can...
WTI Crude Oil hit the top (HH 1) of the Rising Wedge and got rejected initially but today we see a strong push back to the top. The 1D technicals are bullish (RSI = 61.888, MACD = 1.310, ADX = 33.690) and probably is what's pushing the price back to test the HH 1 again. Until the time the HH 1 breaks, we are staying neutral, but with more bearish bias. Those will...
XAUUSD on the 1W chart is more straightforward. It crossed into the overbought zone technically (RSI = 69.498, MACD = 29.410, ADX = 36.625), approaching the top of the Channel Down where all full body 1W candles closed. Unless an extraordinary fundamental event takes place, Gold shouldn't deliver a wick similar to last time (March 2022 - Russia/ Ukraine war). Pay...
DXY is trading much lower than the 1W MA50 and is unphazed by the 1W technicals that are quickly approaching an oversold state (RSI = 35.543, MACD = -0.830, ADX = 32.507). With the pattern that has been confirmed as a Head and Shoulders since the September peak, it is possible to see a straight continuation of the downtrend to at least the 1W MA200. Since mid...
Strong rally on the S&P500 index today with 1H turning overbought (RSI = 81.761) but 1D on healthy bullish technicals (RSI = 61.426, MACD = 17.150, ADX = 26.544), indicating that this trend can be sustainable long-term. The only drawback is that the price hit today the major multi month Resistance level of the 1W MA50, which made the strong rejection of December...
Dow Jones turned red on the 1D time frame (RSI = 42.944, MACD = 52.430, ADX = 23.942) but oversold on the 4H (RSI = 24.370, MACD = -196.780, ADX = 55.260), which is the exact conditions we've been eyeing for a buy entry. The sharp drop that followed the 4H MA50 breach closed on the HL trend line. The pattern is a Rising Megaphone and right now the price sits at...
Nasdaq may have formed a 4H Golden Cross yesterday but contrary to its practical use, this bullish formation hasn't been a buy signal for the index as long as its has been trading inside the Channel Up of October. With 1D technicals neutral (RSI = 50.571, MACD = 37.810, ADX = 32.497), the price isn't restricted from trading lower despite the medium term bullish...
Bitcoin couldn't sustain last week's Parabolic rise pattern and broke it early on Sunday. It didn't correct but rather traded sideways inside a Channel Up, which also broke down yesterday. The price is now below the 1H MA50 for a full day with 1H, 4H technicals neutral but the 1D chart still overbought (RSI = 78.515, MACD = 1074.800, ADX = 79.058). The longer it...