Last night, USDJPY traded to a fresh 2025 low as traders bought the JPY ahead of the possible Bank of Japan rate hike on Friday. The central bank is expected to increase rates from 0.25% to 0.5%. The USDJPY trend will remain downwards as long as the price trades below 156.84.
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Gold prices have triggered an ascending triangle pattern with a target of $2862. The pattern will remain in play if the price trades above today's low of $2703.
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EURUSD is up sharply today as the Wall Street Journal reports that Trump will likely not introduce tariffs from day one. Instead, he plans to direct federal agencies to study trade policies, investigate trade deficits, and evaluate relationships with China, Canada, and Mexico.
In recent months, EURUSD had dropped as markets priced in the possibility of...
The EURUSD might rise today, especially if U.S. inflation falls below the 2.9% projection. However, it's important to note that rent has been the biggest driver of inflation over the past two years. U.S. rental market experts predict rent will continue to increase into 2025, driven by low housing supply and high demand.
If inflation is slightly weaker than...
Bitcoin has repeatedly tried to break below the 91k level, confirming a head-and-shoulders pattern, but all attempts, including the latest where the price dropped strongly below the support level, failed.
What pattern could we work with if we are not dealing with a head and shoulders? As it stands, we are now dealing with a falling wedge. The price has bounced...
Ethereum prices seem poised for a potential drop as they carve out a major head and shoulders pattern. Yet for now, the trend has stabilized with a slight bullish bias, as a significant decline has not materialized. If the price holds above $3,090 per coin, it could target $3,396, followed by $3,600.
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Next week looks challenging for S&P 500 bulls. The price is stuck in a descending triangle pattern, and if it breaks below this week's low of 5,807, the market could trigger the pattern, suggesting a potential 3.8% drop to 5,596. However, staying above this week's low could allow for sideways movement or even a push higher. In the short term, the outlook remains...
The New Zealand Dollar (NZDUSD) is nearing its 2022 low of 0.5510, having dropped 809 pips from October’s high. While some traders see this as an oversold market ripe for buying, the overall outlook remains bearish as long as we trade below this week's high of 0.5692. Moreover, a large wedge pattern targets 0.53, suggesting further downside below the 2022 low....
Bitcoin bulls are under significant pressure today as the price tests the lower boundary of a 50-day range. Since November 21st, Bitcoin has formed a major head-and-shoulders pattern, indicating that a break below 91,281 could result in an 18% decline, bringing the price down to 74.16k. While such a drop would be significant, it seems unlikely given the broader...
With GBPUSD approaching its 2024 low of $1.2298, it might be tempting to buy the British Pound against the USD. However, buying solely because it's oversold is not a good reason to turn bullish.
Today's data, including ADP, job openings, and jobless claims, mostly exceeded expectations. While the ADP report slightly disappointed, the deviation was minimal. As a...
Yesterday, we highlighted the likelihood of EURUSD moving lower—and it did just that. Currently, the price appears short-term overbought, but if it climbs to around 1.0350 without breaking above 1.0438, traders are likely to short sell again. The targets remain 1.0294, followed by 1.0225, with support for this downside move looking relatively solid.
Backing this...
After 46 days of sideways trading, Bitcoin surged upward on January 6, breaking above the December 26 high—the right shoulder of a large head-and-shoulders pattern. This breakout signals a short-term bullish trend, with resistance levels at 104.74k and 107.7k.
A downside move seems unlikely, but if it happens, support is expected around 100k, with the bullish...
Some traders suggest a potential low in EURUSD just because the price is oversold, but without fundamental support and persistent bearish technical signals, it's premature to assume a bottom.
For a sustained upward move, the price would likely need to establish itself above 1.05 and maintain levels there before a meaningful push higher.
In the short term, the...
Bitcoin prices have dropped sharply over the past three days, making it a tough period for crypto and altcoin holders. At one point, ETH was down 24% from its December 16 high, while Litecoin saw a full 41% drop from its peak.
These sharp declines may encourage some buyers to take advantage of the massive pullback in altcoins, but watching Bitcoin's movements...
A little-known pattern called the Failed Inverse Head-and-Shoulders pattern was triggered in EUR/USD yesterday following the Fed's rate meeting. This pattern occurs when the price breaks below the right shoulder of the head-and-shoulders formation, reversing the original bullish pattern into a bearish one. In this case, the target is the difference between the...
The Fed's shift has shaken the market, ending the gold bulls' party. One of the main drivers behind gold's recent rise has been Federal Reserve rate cuts and signs of a slowing U.S. economy. However, the opposite trend is emerging, with the Fed likely pausing rate cuts now.
Further trade wars could begin as early as Q1 2025 under Trump, potentially driving...
In October 2024, USDCAD triggered a complex inverse head-and-shoulders pattern forming for 747 days. This pattern suggests a potential move of 777 pips to the upside, with the pair still roughly 375 pips away from the 1.4672 target.
In the short term, if the price dips but holds above last Thursday's low of 1.4130, buyers will likely step in and push the price...
The trend remains bullish above 21,920, and as the market approached the 20,000 mark this morning, buyers stepped in. The trend will remain upwards above 21,920, and the biggest concern now is that many traders are sitting on significant profits, and with the tax year nearing its end, they may need to close positions to cover taxes.
What’s your take? Will 21,920...
