The incessant increase in the price of oil over recent months has been a moot point for many people, especially those in western countries who are now having to battle with the cost of paying for their domestic heating or the painful cost of buying fuel for their car.
What appeared inconceivable last year when oil prices were very low and had only just begun to...
BTCUSD: Bearish Engulfing Pattern Below $24262
Bitcoin was unable to sustain its bullish momentum and after touching a high of 24195 on 20th July started to decline against the US dollar dropping below the $21500 handle in the European trading session today.
We can see that after this decline the prices have entered into a consolidation zone above the $21000...
EUR/USD started a fresh decline and traded below 1.0150. EUR/JPY is attempting a recovery wave and might rise if it clears 139.50.
Important Takeaways for EUR/USD and EUR/JPY
· The Euro started a major decline from the 1.0250 and 1.0280 resistance levels.
· There is a short-term contracting triangle forming with resistance near 1.0145 on the hourly chart.
·...
ETHUSD: Bullish Engulfing Pattern Above $1357
Ethereum was unable to sustain its bullish momentum and after touching a high of 1661 on 25th July started to decline against the US dollar coming down below the $1400 handle on 26th July.
We saw that after this decline, the prices started to stabilize above the $1350 handle, and then a pullback action was seen in...
AUD/USD is gaining pace above the 0.6950 resistance. NZD/USD is also eyeing a key upside break above the 0.6300 resistance.
Important Takeaways for AUD/USD and NZD/USD
· The Aussie Dollar started a fresh increase above the 0.6880 resistance zone against the US Dollar.
· There is a key bullish trend line forming with support near 0.6955 on the hourly chart of...
GBP/USD started a fresh increase above the 1.2000 zone. EUR/GBP might attempt a recovery wave if it clears the 0.8430 resistance.
Important Takeaways for GBP/USD and EUR/GBP
· The British Pound started a fresh increase from the 1.1850 zone against the US Dollar.
· There is a key bullish trend line forming with support near 1.2120 on the hourly chart of...
BTCUSD: Evening Star Pattern Below $24607
Bitcoin was unable to sustain its bullish momentum and after touching a high of 24597 on 30th July started to decline against the US dollar dropping below the $2300 handle in the European trading session today.
We can see that after this decline the prices have entered into a consolidation zone above the $22500...
EUR/USD started another decline from the 1.0300 resistance. USD/JPY is declining and might continue to move down below 137.00.
Important Takeaways for EUR/USD and USD/JPY
· The Euro started a fresh decline and even traded below the 1.0200 support.
· There was a break below a key bullish trend line with support near 1.0205 on the hourly chart of EUR/USD.
·...
ETHUSD: Three Inside Down Pattern Below $1783
Ethereum was unable to sustain its bullish momentum and after touching a high of 1762 on 30th July started to decline against the US dollar coming down below the $1600 handle on 02nd Aug.
The selloff that we saw was due to the strength of the US dollar and its subsequent effect on the price of ETHUSD.
We can...
GBP/USD could gain pace if it clears the 1.2100 resistance zone. USD/CAD is surging and could continue to rise above the 1.3000 resistance zone.
Important Takeaways for GBP/USD and USD/CAD
The British Pound is attempting an upside break above the 1.2100 resistance zone.
There is a key bearish trend line forming with resistance near 1.2100 on the hourly...
BTCUSD: Bullish Engulfing Pattern Above $22425
Bitcoin was unable to sustain its bearish momentum and after touching a low of 22431 on 04th Aug started to correct upwards against the US dollar crossing the $24000 handle on 08th Aug.
We can see that bitcoin failed to clear its resistance zone located at $25000 for the second time this month.
After touching a...
BTCUSD: Bearish Engulfing Pattern Below $25196
Bitcoin was unable to sustain its bullish momentum and after touching a high of 25196 on 15th Aug started to decline against the US dollar, coming below the $24000 handle today in the Asian trading session.
We can see that bitcoin failed to clear its resistance zone located at $25500 for the third time this...
Gold Price Drops While Crude Oil Price Aims Fresh Increase
Gold price started a fresh decline and traded below $1,650. Crude oil price is holding the $84.25 support and might start a fresh increase.
Important Takeaways for Gold and Oil
· Gold price failed to surpass $1,680 and started a fresh decline against the US Dollar.
· There is a key bearish trend line...
GBP/USD started a recovery wave and climbed above the 1.1300 resistance. EUR/GBP is trading above the 0.8650 support and might eye a fresh increase.
Important Takeaways for GBP/USD and EUR/GBP
· The British Pound started a fresh increase after it broke the 1.1250 resistance against the US Dollar.
· There was a break above a major bearish trend line at 1.1290 on...
BTCUSD: Bearish Engulfing Pattern Below $19685
Bitcoin was unable to sustain its bullish momentum and after touching a high of 19694 on 18th Oct, it started to decline touching a low of 18718 on 21st Oct.
We can see that bitcoin has made a failed attempt to cross the $20500 resistance on two separate occasions this month and is now back in the bearish zone.
We...
EUR/USD started a steady increase above the 0.9900 resistance zone. USD/JPY started a downside correction from the 152.00 resistance zone.
Important Takeaways for EUR/USD and USD/JPY
· The Euro formed a base and started a decent upward move above the 0.9850 zone.
· There is a major bullish trend line forming with support near 0.9910 on the hourly chart of...
ETHUSD: Inverted Hammer Pattern Above $1254
Ethereum was unable to sustain its bearish momentum and after touching a low of 1254 on 21st Oct, the prices started to correct upwards against the US dollar. The prices of Ethereum touched a high of 1593 on 26th Oct after which we can see a shift towards the consolidation phase in the markets.
We can see that the...
AUD/USD is moving higher and showing positive signs above 0.6400. NZD/USD is also rising and might aim more upsides above 0.5850.
Important Takeaways for AUD/USD and NZD/USD
· The Aussie Dollar started a fresh increase above the 0.6350 and 0.6400 levels against the US Dollar.
· There is a key bullish trend line forming with support at 0.6460 on the hourly chart...
