BTCUSD: Inverted Hammer Pattern Above $16009
Bitcoin was unable to sustain its bearish momentum and after touching a low of 16009 on 28th Nov, the prices started to correct upwards against the US dollar crossing the $17000 handle on 06th Dec.
We have seen a continued escalation in the prices of bitcoin due to the increasing global demands and buying at lower...
After a long period of declining values which blighted the British Pound during the course of the late summer and early autumn period, resulting in it plummeting to a low of 1.18 against the US Dollar at one point, the British sovereign currency managed to pick itself up during November.
The economic chaos that has been clearly visible across Britain reached...
The price of Brent Crude oil is once again on the rise, after a slow and steady decline during early to mid November bottomed out at $76.28 per barrel on November 26.
Since then, the price has been increasing, and today Brent Crude Oil (WTI) is trading at $81.41 per barrel which is a two week high.
This could partly be down to the price cap for oil purchases...
GBP/USD started a fresh increase above the 1.2150 resistance. EUR/GBP failed to stay above the 0.8600 support and declined towards 0.8550.
Important Takeaways for GBP/USD and EUR/GBP
· The British Pound started a fresh increase after it broke the 1.2050 resistance against the US Dollar.
· There was a break above a major bearish trend line with resistance near...
Gold price climbed higher and traded above the $1,780 resistance. Crude oil price is also rising and might climb further higher above $82.50.
Important Takeaways for Gold and Oil
· Gold price found support near the $1,720 level and started a fresh increase against the US Dollar.
· There is a key bullish trend line forming with support near $1,792 on the...
ETHUSD: Piercing Pattern Above $1151
Ethereum was unable to sustain its bearish momentum and after touching a low of 1151 on 23rd Nov, the price started to correct upwards against the US dollar crossing the $1300 handle today in the Asian trading session.
After touching $1300 handle we can see some downward correction in the levels of Ethereum which is expected...
EUR/USD is gaining pace above the 1.0000 resistance. EUR/JPY is also rising and might climb further higher above the 147.00 zone.
Important Takeaways for EUR/USD and EUR/JPY
· The Euro started a downside correction from the 1.0500 resistance zone.
· There is a key declining channel forming with support near 1.0310 on the hourly chart.
· EUR/JPY started a...
BTCUSD: Bullish Engulfing Pattern Above $15510
Bitcoin was unable to sustain its bearish momentum and after touching a low of 15510 on 21st Nov, the price started to correct upwards against the US dollar crossing the $16500 handle today in the European trading session.
The price of bitcoin continues to rise after the recent crash and now we are looking to cross...
A reduction in inflation is a good thing, is it not?
Surely when a national economy previously blighted by what appeared to be runaway inflation suddenly gets back on track and the inflation figure falls dramatically, this would be the sign of strengthening and therefore have a positive effect on the national sovereign currency?
In the case of the United States...
A new trading week has just started, and the name of the game in the FX market is the JPY weakness. Since the Bank of Japan said in March that it would buy unlimited amounts of JGBs, the JPY pairs have gone through the roof.
Perhaps the most impressive rally is the one observed in the EURJPY cross. After initially dropping to 124 when the Russia-Ukraine war...
BTCUSD: Double Bottom Pattern Above $39,000
Bitcoin was unable to continue its last week’s bullish momentum and started to decline after touching a high of $47,184 on April 5th.
Bitcoin broke the $40,000 support and touched a low of $36,210 in today’s Asian trading session.
The selloff continues across the crypto markets, and the global investor sentiments are...
UR/USD started a fresh decline from the 1.0940 resistance. EUR/JPY could gain pace if it clears the 136.30 resistance zone.
Important Takeaways for EUR/USD and EUR/JPY
· The Euro failed to clear the 1.0940 resistance and started a fresh decline.
· It broke a key contracting triangle with support near 1.0880 on the hourly chart.
· EUR/JPY gained bullish...
ETHUSD: Double Bottom Pattern Above $2,900
Ethereum failed to continue its bullish momentum last week, and started to decline after touching a high of 3,299 on April 8th.
It touched an intraday low of 3,093 in the Asian trading session, and an intraday high of 3,142 in today’s European trading session.
We can clearly see a double bottom pattern above the...
Gold price started a fresh increase above the $1,960 resistance. Crude oil price is also rising and might climb further above the $107.
Important Takeaways for Gold and Oil
· Gold price started a fresh increase above $1,930 and $1,950 against the US Dollar.
· There is a key bullish trend line forming with support near $1,968 on the hourly chart of gold.
·...
GBP/USD started a fresh decline from well above the 1.3120 level. EUR/GBP is rising and might attempt an upside break above the 0.8300 resistance zone.
Important Takeaways for GBP/USD and EUR/GBP
· The British Pound started a fresh decline from well above 1.3120 against the US Dollar.
· There was a break below a key contracting triangle with support near...
BTCUSD – Bullish Engulfing Pattern Above $38500
Bitcoin was not able to sustain its bullish momentum last week and after touching a high of 41491 on 14th April, started to decline against the US Dollar.
The bearish momentum in Bitcoin continues, which managed to push down its prices below the $39000 handle this week.
After forming a Bearish Triangulation...
EUR/USD is attempting an upside correction above 1.0800. USD/JPY rallied above 128.50 and traded to a new 20-year high.
Important Takeaways for EUR/USD and USD/JPY
· The Euro started an upside correction from the 1.0760 zone.
· There was a break above a key bearish trend line with resistance near 1.0805 on the hourly chart of EUR/USD.
· USD/JPY extended...
ETHUSD: Bullish Engulfing Pattern Above $2,800
Ethereum entered a consolidation channel last week, after which it started to decline touching a low of $2,883 on April 18th in the US trading session.
Ethereum touched an intraday low of $3,066 in the Asian trading session, and an intraday high of $3,108 in the European trading session today.
We can clearly see a...
