PrimeXBT

PrimeXBT

This is a break down weekly analysis of Natural Gas. Fundamental Analysis: - Natural gas futures started the week lower, a new multi year low. - Last week's much larger than expected government storage report is a very bearish indicator for the price. - The latest weather models show almost zero chance of a cold pattern, which is also bearish for the...

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GBPAUD is consolidating after the 1.9150 bottom. Levels to watch: - The Resistance is at 1.9750 and the Support at 1.9150. - The MA50 on the 4H chart rejected the first upside attempt and the price is now attempting the second one. - The MA200 may provide support near the 1.91500 level. - The RSI is repeating a sequence previously formed after a bottom. This...

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ONTUSD is trading within a Channel Up on the 4H chart since he January 3 bottom. Levels to watch: - The MA50 on the 4H chart is supporting so far the uptrend. As long as it doesn't break, the price targets the 0.9550 Resistance 1. - If the MA50 breaks the pattern makes a pull back for a higher low. This happened in January 19. Projection: - This appears...

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TRXUSD is testing the 5-month Resistance following the December/ June aggressive rise. Levels to watch: - The Resistance is at 0.0235 the Support at 0.0121. - A Golden Cross is about to take place on the 1D chart. Last time this happened on a top (February 1 2019) Tron turned sideways for almost 4 months. - The RSI is printing a similar pattern to February...

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BSVUSD is consolidating after the aggressive run that led to a peak on January 14. Levels to watch: - The Resistance is at 457.500 while the Support at 76.500. - Golden Cross took place right after the January 14 top. Last time this happened on a top (June 2019) it initiated an extended pull back to the 0.786 Fibonacci retracement level. - The MACD is...

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This is a break down analysis of EURUSD ahead of the Nonfarm Payrolls. Fundamental Analysis: - The U.S. Nonfarm Payrolls for January have a forecast of 160K, higher than the 145K number of the previous month. - Based on the last 12 Nonfarm Payrolls reports, EURUSD has a 100% probability to go higher on the 4H chart if the Actual number is lower than the...

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ETHUSD is extending the Channel Up on the 1D chart since December 2019 low. Currently it is attempting a break out above the 199 Resistance. Levels to watch: - The Resistance is at 225.00 while the Support at 153.50. - The former 199.00 Resistance is being tested at the moment. - The MA50 is now on the 153.50 Support. - The price is above the MA200 for the...

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This is a break down analysis of Silver (XAGUSD) in the aftermath of key U.S manufacturing news. Fundamental Analysis: - The ISM Manufacturing PMI rose yesterday to 50.9 in January, up from 47.2 a month earlier, marking the first expansion reading since July. This improved risk appetite and is applying selling pressure on Silver. The U.S. manufacturing...

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BNBUSD is trading inside a Channel Down since September 2019 currently testing both the Lower High line as well as the MA200 on the 1D chart. Levels to watch: - The Resistance levels are 21.9000 and 24.0000 while the Support levels are 12.7000 and 11.8000. - The Channel Down is making the first important test of the mid December uptrend on the Lower High and...

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BTCUSD is trading inside a Channel Up since December 18 2019 (monthly low) on the 4H chart. Levels to watch: - The Resistance levels are 9600 and 10370 while the Support levels are 6850 and 6430. - The Channel Up is making the first important test of this uptrend on the 9600 Resistance 1 level. - The Channel up is following a very clear Higher Low pattern....

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IOT has broken above the 1D Channel Up that started the strong uptrend early in January. Levels to watch: - The price not only crossed above the Channel Up on the 1D chart but also broke the 0.618 Fibonacci retracement level. - It is comfortably above both the MA50 and MA200 and in fact a Golden Cross may be due. - The 0.3150 four month Resistance broke. -...

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This is a break down analysis of USDCHF ahead of this week's U.S. (ISM Manufacturing PMI, ADP Employment Change, ISM Non-Manufacturing PMI) and Swiss (Consumer Confidence) data. Fundamental Analysis: - Long term strategists such as Karen Jones (Head of Technical Analysis Research at Commerzbank) turn "attention on the 0.961 January low, failure here will...

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S&P has crossed below the long term channel up for the first time since it started in October. Levels to watch: - The Resistance is at 3340 while the Support (short term) at 3235. - The price not only crossed the ascending support of the channel up but also the MA200 on the 4H chart. In fact it crossed it twice in 3 days, which is something we haven't seen...

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This is a break down analysis of GBPJPY after today's Bank of England Interest Rate Decision. Fundamental Analysis: - The BoE left the rates unchanged giving a minor lift to the GBP. - JPY continues to work as a safe-haven under the current geopolitical conditions (coronavirus) and may work against the BoE lift on GBP. Technical Analysis: - The...

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USOIL is on a strong decline following the January 08 high, below both the MA50/200. Levels to watch: - The Resistance is at 66.60 while the Support at 50.55. - The RSI has hit the 6 month support level. - The Golden Cross late in December marked the top. Projection: - The 50.55 - 51.90 Zone has provided support and a buy level since June 2019. The...

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EOSUSD is on a rebound since the December low and is testing today the September Resistance. Levels to watch: - The Resistance is at 4.2550 while the Support at 2.1200. - The price is already above both the MA50 and MA200. - The MA200 is in fact providing Support, keeping the price sideways within the trend line and the Resistance. - The RSI is on a bearish...

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LTCUSD is on a rebound made on the 50.150 intermediate support and is testing today the January Resistance. Levels to watch: - January's uptrend stopped exactly on the MA200 (1D chart) and pulled back to the 50.150 intermediate support. The rebound leg on that support is again testing the MA200 today. - Another rejection on the MA200 will make a Double Top...

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XLMUSD is trading within the MA50 and MA200 on the 1D chart after the recent top at 0.0670. Levels to watch: - January's uptrend stopped exactly on the lower high trend line of the long term channel down that started in May. - That lower high was exactly on the MA200 on the 1D chart. The previous lower high (November 05) was also formed on the MA200. - So far...