Towards the end of last year, FX:USDCAD found itself testing the crucial support zone at 1.32. Subsequently, the pair reversed its course and, as of the beginning of February, has been consistently forming higher lows on our daily chart while pressing the significant resistance level at 1.36. I anticipate that this resistance will ultimately be breached, paving...
Since the start of the year, the price action of FX:EURUSD has been clearly confined within a descending triangle, with a base formed at 1.07. Recently, the pair reversed once again from this crucial level and, at the time of writing, is trading at 1.0856, close to the descending trend line of the triangle. A rise towards the 1.09 resistance level could provide...
Fundamentals: Given the persistent challenge of downshifting inflation within the U.S. economy this year, market participants eagerly await the release of March Consumer Price Index (CPI) figures by the U.S. Bureau of Labor Statistics on Wednesday. This report carries significant potential to induce volatility across various asset classes, necessitating traders...
So far, April has been the month for OANDA:XAUUSD , with the yellow metal setting a new all-time high each day. (Even on April 4th, despite a red day candle, we observed an all-time high on an intraday basis.) Even though the upward move appears overextended and a strong correction seems imminent, there are no indications suggesting we are on the brink of it at...
Like the entire crypto market, BITSTAMP:ETHUSD has initiated a much-needed correction since mid-March. After an initial dive to the 3k zone, Ethereum recovered and made a local high at 3.6k. Subsequently, another drop occurred, but bulls held strong at the 3.2k zone, establishing a solid floor. At the time of writing, the price is near 3.4k, and bulls appear...
Since reaching the recent all-time high (ATH) near 74k in mid-March, BITSTAMP:BTCUSD has corrected to the 61k zone support and has begun consolidating thereafter. Despite significant volatility over the past three weeks, the overall outlook remains predominantly bullish, offering reassurance to medium to long-term holders. Furthermore, upon examining the daily...
In my post from yesterday, I mentioned the possibility of a correction for $OANDA:XAUUSD. In a subsequent update, I emphasized that while such a correction was likely, traders should consider selling after a new spike above 2300. Indeed, the price did spike above this level once more, only to drop by 400 pips afterward, precisely to the significant support at...
In my post from yesterday, I pondered whether the bulls still possessed the strength to drive the price to the psychological level of 2300, and indeed, they did. Following a brief intraday dip, precisely to the 2267 support level mentioned in yesterday's analysis, buyers swiftly regained control and, as anticipated, propelled the price to 2300. However, at this...
In my previous post about KUCOIN:MPCUSDT , I mentioned my strong interest in this project and my intention to buy for at least a 3x profit. In a subsequent post, I plan to delve deeper into the project's fundamentals to better understand why it might be a worthwhile investment. However, for this specific post, I will focus on its recent technical analysis. The...
Yesterday, after initially rising to 2277, the price began to correct. Following an initial drop to support, bulls regained control during the US session, closing the day with yet another all-time high for $OANDA:XAUUSD. During the Asian session last night, once again, the initial drop was met with strong bids, leading to a quick price recovery. These...
I understand the title may seem bombastic and possibly clickbaity, but in my view, there's a solid case for OANDA:XAGUSD potentially rising by $10 in 2024. Here's why: Observing the chart, unlike OANDA:XAUUSD , Silver has been trading within a range for precisely a year now, failing to establish new highs. However, on a positive note, since the pandemic low,...
In my post from yesterday regarding OANDA:XAUUSD , I mentioned that while a correction is possible, it should be viewed as a buying opportunity to align with the overall bullish trend. Indeed, after a brief consolidation and a test above 2260, Gold experienced a rapid drop to the 2230 zone. However, it quickly reversed course and closed the day with a new all...
Since the beginning of December last year, FX:GBPUSD pair has been trading within a range bounded by 1.25 and 1.28. In early March, the pair experienced a break above the upper range boundary. However, this break ultimately turned out to be false. After returning to the familiar range, the pair formed a significant bearish engulfing pattern on March 21st....
Without a doubt, BINANCE:PEPEUSDT and BINANCE:BONKUSDT are two of the most loved meme coins these days. While I don't recommend trading them with scared money , there's certainly money to be made, especially given their technical nature. In Pepe's case, as illustrated on the chart, there was over half a year of accumulation, forming what appears to be an...
With March ending on a new all-time high at 2233, the first day of April brought about another surge of 300 pips, leading to the question: is it time to sell? To be honest, there's no easy answer to this question. Since last Monday, OANDA:XAUUSD has indeed risen by more than 1,000 pips, and a correction could occur at any time. The main issue lies in...
In my analysis of BITSTAMP:BTCUSD yesterday, I mentioned my expectation for a new all-time high from Bitcoin in the near future. However, during yesterday's trading session, the price once again failed to surpass the 72k mark, raising some doubts about my outlook. Firstly, after breaking above the 68k zone and retesting it, I anticipated a new local high....
I've written many posts and made videos expressing my belief that XauUsd will reach a new all-time high (ATH) this year. Now, the question is, will it start with all-time highs this month? In my opinion, it will. But let's begin with why I'm quite certain that Gold will reach an ATH this year. It's relatively straightforward when you examine the monthly chart....
Yesterday, OANDA:XAUUSD tested 2.2k once more and is rolling back down. As explained, the trend remains bullish and we could expect a rise above this important level. However, although 2150 is the key level for the bullish trend, at this moment, we should watch closely the 2180 short-term trend line. My strategy remains to buy dips as long as the 2180 zone is intact.