JoelFinancial

JoelFinancial

The S&P 500 has been quite volatile throughout the week, but it would be remiss not to point out that it ended with a slightly negative candle that has rebounded. In other words, while we are not entirely neutral, it certainly looks like the market is trying to recover. This trend can be observed across all equity markets, suggesting it's only a matter of time...

JoelFinancial

The British Pound fell against the Japanese Yen for most of the week, but it's worth noting that Thursday's candle ended as a massive hammer. Friday's session was relatively sideways and neutral, suggesting we might continue to see significant noise going forward. That said, I believe we are stabilizing, and if we see a move above the ¥198.50 level, we might...

JoelFinancial

The Federal Reserve will publicly announce the FOMC decisions, potentially opening the door to increased volatility in the currency pair. The EUR/USD pair started July on a downward trend but managed to rise to a peak of nearly 1.09485 on July 17. Since reaching this level, last seen in the third week of March, the EUR/USD has begun to decline.

JoelFinancial

The Euro initially fell during the trading week, testing the 0.84 level. At that point, the market reversed, showing signs of life and ended up being very bullish. By doing so, the market formed a hammer pattern for the week at an exceptionally low level, suggesting that the Euro could become a real value. If we manage to surpass the 0.85 level, it would be a...

JoelFinancial

During last week's trading, bears made every effort to push the EUR/USD exchange rate below the support level of 1.0800 to further confirm the strength of the bearish trend. However, losses halted at the support level of 1.0825, and the week ended with the pair stabilizing around 1.0855. This week, U.S. employment figures, Federal Reserve policy decisions, and...

JoelFinancial

At the end of last week, gold prices rose to $2,390 per ounce before closing at $2,388 per ounce. This represented a 1% decline from the previous session as markets continued to analyze the latest economic data for clues on the Federal Reserve's policy outlook.

JoelFinancial

Gold prices were unable to maintain their bullish momentum yesterday, failing to surpass the resistance level of $2,432 per ounce. This comes as investors closely monitor U.S. economic data this week for clarity on the timing of the Federal Reserve's anticipated interest rate cuts. As a result, gold futures have since pulled back and are currently trading at a...

JoelFinancial

At the start of this week's trading, the EUR/USD exchange rate held steady around 1.0885, retreating from the four-month high of 1.0940 reached last week. Despite the decline, the Euro/U.S. Dollar pair remained stable even as the Dollar weakened following President Joe Biden's decision to withdraw from the 2024 election. Investors are now assessing the impact of...

JoelFinancial

At the beginning of this week, gold prices attempted to rebound due to political concerns in the U.S. However, its gains did not surpass the resistance level of $2,412 per ounce before retreating to the support level of $2,384 per ounce, the lowest in two weeks. The initial gains this week were driven by a technical rebound following a nearly 2% drop in the...

JoelFinancial

The British Pound market has been all over the place during the trading week, largely due to the Bank of Japan's intervention in the currency markets. After all, the Japanese Yen had been taking a beating from most currencies, including the British Pound. That said, this market remains very bullish, and holding onto the pair continues to be rewarding. For this...

JoelFinancial

In my daily analysis of the EUR/CAD pair, it's clear that we are currently on the verge of a significant bullish breakout. The Euro has reached the 1.49 Canadian Dollar level in the early hours, and it seems to be attempting to break above the short-term resistance we observed. If successful, the market might head towards the next logical target, the 1.50...

JoelFinancial

Gold futures fell below $2,400 per ounce, closing the trading week as traders took profits before the weekend. Prior to this sharp decline, gold prices had reached new all-time highs last week. It wasn't just the yellow metal that saw declines; broader financial markets, including benchmark indices and crude oil, also dropped on Friday.

JoelFinancial

The Bitcoin market struggled on Wednesday to maintain any momentum, which makes some sense considering the strong bullish trend over the past few days. Despite this, I believe this market continues to attract a significant number of value hunters during dips, suggesting that selling might not be the best strategy.

JoelFinancial

Gold surged early last week, reaching a new all-time high well above $2,450. However, the price dropped sharply for the rest of the week, resulting in a bearish weekly candle. Despite this bearish price action, it's worth noting that the decline was not significant, and a support level just below $2,400 managed to hold the price during the final hours of last...

JoelFinancial

The EUR/USD currency pair made a strong advance early last week, achieving the highest daily close in three months. The close was near the top of the day's range during the breakout, with the closing price above the technically significant level of $1.0920. This prompted many trend traders to take long positions. However, the price turned bearish when it failed to...

JoelFinancial

The Yen rose by 1.5% today, reaching 155.5 against the Dollar, its highest level in over a month. This increase is due to markets reassessing the monetary policy expectations of both the Bank of Japan and the Federal Reserve, as well as Japan's willingness to intervene to support its currency. This rise extends the rally that began late last week, lifting the Yen...

JoelFinancial

💼 Risk Management: Risk management is essential. I will discuss how to define appropriate stop-loss and take-profit levels to protect your capital. I'll also address the importance of position sizing based on your risk tolerance. 📊 Additional Confirmations: In addition to technical signals, I will explore possible additional confirmations, such as technical...