The EURO STOXX 50, which serves as a benchmark for major eurozone companies, has been trading sideways in recent months, fluctuating between a strong support level at 4,730 and resistance at 5,099. After multiple tests of the support, the price has formed candles with long lower shadows, indicating a rejection of lower prices and buyer interest in maintaining...
The GBPCAD currency pair has been in a strong uptrend in recent months, primarily due to the British pound appreciating against the Canadian dollar. This trend has propelled the price to around 1.8070, the highest level since 2020, where it encountered significant resistance.
After hitting this peak, the price reversed and broke a long-term uptrend line,...
Dollar Index (DXY) Analysis - Is a Deeper Correction Approaching?
Since September 2024, the Dollar Index (DXY) has risen significantly, gaining 8.2%, marking its highest appreciation in months. This upward momentum has been fueled by positive economic indicators, increasing demand for dollars. Recently, the DXY reached the 107.00 mark, its highest resistance...
The AUD/JPY pair recently made a significant break on the daily chart. The price broke through two significant zones:
1. The uptrend line, which has been supporting prices since August 2024.
2. The sideways range, between 99.70 and 102.00, which had served as a consolidation area for several weeks.
These breakouts indicate a loss of buying momentum, with sellers...
EUR/USD has experienced a decline of over 5% in recent weeks, without any significant pullbacks, raising the likelihood of a potential upward movement in the coming days. This downward trend has brought the price to a key support level on the daily chart, near 1.0450, a region previously tested in December 2022. Following this, the price exhibited classic false...
The AUD/NZD pair is currently exhibiting signs of a false breakout at the resistance level of 1.1145, subsequently forming a rejection Pinbar, which indicates that sellers may be regaining control in the short term.
What is a False Breakout?
A false breakout occurs when the price briefly exceeds a key support or resistance level, only to swiftly reverse and...
The EUR/CHF pair has been experiencing a prolonged downtrend over the past few months, with consistent declines culminating in a record low of 0.9208. This scenario underscores strong seller dominance, as the market continually tests new support levels.
Descending Triangle Analysis
Currently, EUR/CHF is consolidating within a descending triangle pattern. This...
The GBP/CAD pair has exhibited considerable strength since April 2024, climbing steadily until it reached key resistance at approximately 1.8070. This resistance area is close to the highest level seen since 2018, when GBP/CAD traded around 1.8400.
Following its engagement with resistance on the daily chart, the price began to show signs of exhaustion. On 12...
Since the end of September 2024, the NZD/USD pair has been in a pronounced downward trend, experiencing a depreciation of over 8% without any significant retracements. This downward movement has found crucial support around the 0.5850 level, where the price is now showing early signs of exhaustion. This support level has been tested on previous occasions,...
The EUR/GBP pair has been in a persistent downtrend since February 2023, reflecting the strengthening of the Pound against the Euro. However, after more than 1.5 years of decline, the pair is beginning to show potential signs of exhaustion on the daily chart. Recently, an “Engulfing” candlestick pattern has formed, suggesting a possible reversal or at least a...
The EUR/USD pair has recently broken a significant uptrend line and fallen below a crucial horizontal support level on the daily chart. This initial downward movement was triggered by Donald Trump's victory in the US presidential election. His consistent emphasis on prioritising the local economy has led the market to anticipate protective policies aimed at...
Historical context: +60% up since 2020
The CAD/JPY pair has demonstrated a remarkable upward trajectory since March 2020, recording an impressive increase of over 60%. This surge can be partly attributed to Japan's prolonged monetary policy, which maintained negative interest rates while many other countries raised their rates to combat inflation following the...
In recent days, the financial markets have exhibited increased sluggishness as investors await the outcome of the US elections. Kamala Harris and Donald Trump represent two starkly contrasting visions for the future of the United States. This article will explore the potential effects each candidate could have on key financial assets, including Oil, Gold, Bitcoin,...
EUR/CAD is currently trading near its highest resistance level since 2021, around 1.5200. This price zone has been tested multiple times in recent months, indicating strong resistance that the market has struggled to overcome. The repeated testing without a definitive breakout suggests that selling pressure may be building, which could lead to a reversal if the...
The GBP/NZD is currently testing its highest price in recent years, nearing the significant resistance level of 2.1900. This area has served as a notable barrier since 2016 and often sees increased selling interest. The price action in this zone, combined with the emergence of a harmonic pattern, suggests a potential reversal or correction. Furthermore, recent...
EUR/GBP is sitting in a significant support area on the daily chart, marked by a descending trendline (which was broken in yesterday’s candle) and a horizontal level of support that comes all the way from 2022. Below are some key points about the pair at the moment:
Horizontal Support at Lowest time since 2022: The orange line on the chart marks a critical...
EUR/USD is currently positioned at a significant support area on the daily chart, marked by both an uptrend line and horizontal support. Here are some important notes about the pair right now:
Long-Term Ascending Channel: The black lines forming an ascending channel on the chart indicate that EUR/USD has been in an uptrend since October 2023. This channel acts...
On 15 October, Bitcoin (BTC) surged above its previous high, confirming its uptrend on the 2-hour chart. The cryptocurrency is now trading above the 200-period Simple Moving Average, with the potential to reach an all-time high in the coming months.
However, shortly after surpassing its previous high, BTC formed a Head and Shoulders pattern on the 2-hour chart,...
