Euro Stoxx 50 is a leading blue-chip index for the Eurozone, providing a representation of the leaders in the region. The index covers 50 stocks from 8 European countries. Technically, following the coronavirus crash in February-March 2020, the price has formed an uptrend that we think will reach the resistance area of 3840-3880. If the price corrects deeper...
In our last week forecast, Gold didn’t disappoint and respected our analysis in which we anticipated that the price will break out of the consolidation area in order to start its final journey to break the $1763 lows. Furthermore, we expect that this week the price will retest the resistance zone highlighted on the chart in order to form a small pullback that...
The US Dollar increased its gains against the Japanese Yen as U.S. employers added up 49,000 more jobs last month, returning growth to the labor market after a one-month dip. The unemployment rate fell to 6.3% and made way for the price to reach the 105.50 target, like we predicted in our last analysis. For this week we expect a medium degree pullback to push the...
This week’s coin is Ankr. Ankr is trying to build a very efficient blockchain framework that enables distributed cloud computing and provide user friendly business applications. It’s price today is 0,00000037 BTC with a 24-hour trading volume close to $41 millions. Technically we expect a continuation of the uptrend that started in late January 2020 and had a...
In our last analysis we correctly anticipated the movement of Bitcoin up to the resistance line marked on the chart. In week 5 we will notice the reaction of price in the area of resistance at which it will either be rejected and go down towards the support line or it will break the area and Bitcoin will continue its upward trend to new all time highs. Over...
Ripple's movements in the last week were devoid of volatility and the cryptocurrency moved in a very narrow range without giving too many trading opportunities. Fundamentally this week we did not have important news and we are waiting to see the outcome of the company's lawsuit vs. SEC that we think will be decisive for the future of Ripple. Trade with...
The first target in the last week's analysis was successfully reached because Ethereum broke the top again after the correction that was in the direction of the big trend. Now the price structure shows us another corrective movement that is more likely to make ETH continue the uptrend rather than falling deeper to make a bigger correction. However, if price...
This week ETH reached an all-time high again, breaking the previous top and reaching $1750 per ETH. The 24h trading volume of ETH is 39 billion dollars, and based on the rankings it is the second cryptocurrency by market capitalization. Technically, we expect a correction for ETHUSD that will probably reach the blue trendline on the chart and then reverse to...
This week’s coin is Dogecoin. Doge was created as a joke in December 2013 and is based on the popular “doge” Internet meme that features a Shiba Inu on its logo. The total market capitalization of the coin is 6,3 billion dollars and it has a 24h trading volume of 4,8 billion dollars. It is primarily used as a tipping system on Reddit and Twitter to reward the...
Litecoin moved slowly up this week and reached the resistance zone at $165 per LTC. This is a very crucial area to watch because if this area holds we should see LTC price fall and reach the $120 support zone. However, if the price penetrates the resistance and closes strongly above we should see a continuation of the uptrend with higher highs. This time the...
In the last weekend of January we witnessed a community led buying effort that planned to take XRP to all time new highs but on Monday, XRP crashed 40% from the day’s high rendering the effort unsuccessful. Technically, we see a correction developing that it is preparing the next down move. Although it can go higher to $0, 50-$0, 60 per XRP in the correction, we...
Bitcoin had a low vol week compared to the cryptocurrency’s historical volatility. In this week, it has slowly climbed to the resistance zone on the chart, a very crucial area for the next development phase of price action. Technically, we have to assess the next step very carefully to determine the next direction of Bitcoin’s movement. If the price reaches the...
Copper price moved sideways for the whole trading week, as we forecasted in our past analysis. As we broke out of the previous trendline, we anticipate for this week that the consolidation will continue to the support area highlighted on the chart. Once this move is completed, we will likely see the top brake once more. Trade with care. Best regards, Financial...
As mentioned in our previous Silver analysis, the price retracement that we’ve been expecting, has been completed and now we wait for a confirmation that it will indeed be heading towards 24$ levels. The resistance area highlighted on the chart could be strong enough to reject the bulls, therefore our focus for this week will be on a bearish move if we get a clear...
In our last week forecast, we pointed out that we expect a consolidation to start in order to gather up enough price momentum, so that it can retest the November lows. Consequently, the price went as we anticipated and our expectations for the next couple of weeks grow towards a bearish move that will be heading at least to test the 1763 area. Trade with...
WTI ended the week where it started as we are in consolidation territory. For the coming week we anticipate that the price will further depreciate, but it’s still uncertain, as we can expect that anytime the bulls may have a last-ditch try with the intention to push the price up and break the top before starting a bigger bearish move that would act as a...
The US Dollar increased its gains against the Canadian Dollar as the economic projection for the US Economy remained on track. As we forecasted, the price strongly breached the trendline nearly reaching the 1.29 levels, with expectation growing higher that this week we will reach 1.30 levels. There is a slim chance that we will make a new low, however we will...
Our technical perspective for AUDUSD points out that another red week is approaching for the Australian Dollar, as we expect the consolidation that started in the past couple of weeks to continue. At the moment, because we are forming a complex pattern, we expect the price to move in zig-zags until the structure is completed. Take notice that on Tuesday the...