Litecoin has been getting hammered since the beginning of 2018, and since then it has been unrelenting for this unfortunate coin. The decision about ICO's didn't help the cryptoverse at all either. Both Kovach Momentum indicators suggest a downturn and there is very little promise of reprieve anytime soon. Currently, litecoin is above the lower bound of the...
Ethereum is quite bearish. It dropped 6% today, and shows little signs of gaining any steam. There are many technical indications of weakness, just be careful to short out of FOMO. Currently, ethereum is trading at $197.08, well below significant levels at $300, and a fraction of its highs at about $1,400. We will find resistance from levels from above...
Although Bitcoin is quite bearish, it does seem to be at the bottom of the range, so bulls can hope for a turnaround soon even if it is just a short covering rally. The news about the US government treating ICO's as they would any other financial endeavor didn't do it any favors either (see linked article). The Kovach Momentum indicators suggest bearishness,...
NZDUSD has extended its losses for the sixth day in a row, touching key levels in the 0.65’s. A strong US dollar and US/China trade concerns have both spilled over into NZD. There are many bearish signs, and if we break through the 0.65’s, there is a vacuum zone to the 0.62’s, which we haven’t seen since 2015. At the time of this writing, NZDUSD was trading at...
Although the upbeat tone of the RBA gave AUDUSD some respite, this was short lived dollar buying continued in a frenzy. The greenback sustained gains against a basket of major currencies over NAFTA trade talks, strong economic data, and general haven flows. At the time of this writing, AUDUSD was trading at 0.7179, near the low of 2017. We will find resistance...
USDCAD has been extremely bullish lately, on extremely strong manufacturing data today. It has retraced all of its losses which were caused by CAD strength due to hopes for successful NAFTA negotiations. Currently, Trump has made numerous hints that Canada may not even be a part of NAFTA anymore, and the Canadian Prime Minister, Justin Trudeau has fired back...
The US dollar has been a bit volatile over the past several weeks owing to mixed signals over the trade war, an ongoing spat between Trump and the Fed over the trajectory of interest rate hikes, and the ongoing NAFTA saga. Although the technicals for USDJPY seem to be bearish at the moment, we don't have a lot of conviction. The current price of USDJPY is...
The Euro has faced some obstacles recently. The uncertainty of the state of Brexit has placed the currency in a state of volatility. Adding to its woes are concerns over the ongoing trade war. EURUSD appears to be attempting a bullish turnaround, but we don't have much confirmation. Use caution when trading this product. The current price of EURUSD is...
GBPUSD The British pound is riding the news today including Brexit negotiations, and Carney’s status at the BoE. Broadly, it is feeling the weight of the surging US dollar, as our most USD currency pairs today. On day charts, generally, GBPUSD is giving us some mixed bull/bear signals. This should be a warning when trading this product in either the long or...
The Kovach Momentum Indicators and Reversals indicator together gave the heads up on a great trade in the Canadian dollar on the back of the trade war on Friday. Those who were paying attention toward the end of the American session (its always thin trading on Fridays), could have made an easy 80 pips. Observe how the Kovach OBV (blue line) maintains an upward...
The technical analysis for BABA is somewhat bearish. There isn't a lot of conviction here so be careful when entering a trade. Currently, BABA is trading at $174.61. Levels from above include: 174.79 from gaps 176.20 from gaps 177.00 from gaps 178.16 from volume profile over the past 14 periods 178.90 from volume profile over the past 14 periods 179.53 from...
QQQ is quite bullish. There are many technical indications of strength, but it would be wise to wait for a better price, rather than buying and getting caught in a retracement. The current price of QQQ is $186.41. We will find resistance from levels from above including the following: 187.52 from highs and lows over the past 14 periods We will find support...
The technical analysis for SPY is very strong. We see many indications of a strong bull trend. It would be wise to buy on a dip. The current price of SPY is $290.32. We will find resistance from levels from above including the following: 291.74 from highs and lows over the past 14 periods Levels from below will provide support, including: 289.60 from...
SQ shows multiple signs of a strong bull trend. Be careful when looking to buy lest you get caught in a retracement. Currently, SQ is trading at $87.88. We will find resistance from levels from above including the following: 89.22 from highs and lows over the past 14 periods We will find support from levels from below including the following: 69.88 from...
XOM appears to be ranging, based on the analysis. Be careful trading either long or short, so you don't get caught in a breakout. At the time of this writing, XOM was trading at $80.50. We will find resistance from levels from above including the following: 80.87 from gaps 81.04 from highs and lows over the past 100 periods We will find support from levels...
Bitcoin seems to be in a ranging phase. Be careful when entering a position in either direction, though you may consider mean reversion. bitcoin is trading at $7047.16, at the moment. Levels from above include: 7113.30 from highs and lows over the past 14 periods 8235.50 from highs and lows over the past 30 periods 8557.52 from highs and lows over the past 100...
Ethereum is still in the gutter, but there are some signs of life. At the time of this writing, ethereum was trading at $296.50. Levels from above include: 320.45 from highs and lows over the past 14 periods 386.28 from sma 50 470.36 from highs and lows over the past 30 periods 723.75 from highs and lows over the past 100 periods 835.06 from highs and lows We...
Neo shows bearish signs, but they're not overwhelmingly strong. Read further for more technical analysis. neo is trading at $21.26, at the moment. Levels from above include: 21.57 from highs and lows over the past 14 periods 26.75 from sma 50 34.32 from highs and lows over the past 30 periods 65.85 from highs and lows over the past 100 periods 94.76 from...