Gold prices are entering a parabolic move following a breakout from a triangle pattern formed throughout most of May. We are also nearing the target of $2537, a level identified from a major inverse head and shoulders pattern reported on the ThinkMarket website in December and February.
In the short term, traders are likely to wait for a 50% correction of the...
The FT100 has formed a descending triangle over the past 53 days, with 14 showing the price settling into a small rectangle pattern. The rectangle pattern is my favourite setup, and both patterns are equally significant, making managing entries and stops easy.
A break below 8,110 suggests the stock could drop by 2.6% to 7,899, while a break above 8,284, the upper...
The Australian Stock Market Index ended last week with a powerful breakout from a 107-day-old triangle pattern. Despite corrections this pattern remains valid as long as the index stays above the breakout candle low of 7795. Between 7902 and 7795, traders are likely to seek buying opportunities on dips, aiming for the pattern target of 8197.
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The French Stock Market Index is currently trading sideways between 7457 and 7750, forming a rectangle pattern, a reliable chart pattern for traders. A break above the upper limit at 7750 suggests a potential price increase of about 3.73%, reaching 8042. This target is calculated by taking the difference between the rectangle's minimum and high points. Conversely,...
The EURUSD has just left a 179-day-old triangle pattern. Technically, it broke out on July 16th, but today, we saw the first significant move to the upside. This move is primarily driven by a sharp drop in the dollar-Japanese yen pair, as the Japanese central bank is suspected of intervening in the markets to prop up the yen.
The triangle breakout suggests we...
Bitcoin prices are currently stuck in a rectangle pattern. A break below $66,000 could potentially send prices down to $60,000, a drop of 9%. Conversely, a break above $72,000 could lift prices towards $77,970 per coin.
Recent trends show a stronger dollar, particularly against the Euro and British pound. If this strength continues, it could negatively impact...
Last week, USD/JPY spiked higher after a disappointing Bank of Japan (BoJ) rate meeting and today, the price has again broken above resistance. The chart reveals a smaller ascending triangle pattern with a target of 159.80, which remains valid as long as the price trades above 157.14. Will a push higher wake up Bo(J)zilla?
Why is the USD/JPY Rising?
The BoJ's...
Apple's share price rose sharply on June 11th following its annual developer event, where new artificial intelligence features were unveiled. This pushed the price up to $220 per share. Although the price has since retraced some of these gains, it found support at the 50% retracement level of the move from $192 to $222.
The price also breached the key $197.85...
Fear is spreading, and while uncertainty is problematic, the most likely scenario involves a hung French parliament leading to less aggressive fiscal spending, as the EU will likely step in and impose sanctions on France. Additionally, the market is already offloading French government bonds, and France could face the market's wrath, similar to the UK during Liz...
On June 14, we said a break below $66K could take the price to $60K. The price dropped as low as $58.5K. Today, Bitcoin is stuck in a descending triangle pattern, and a breach to GETTEX:59K could possibly send the price to GETTEX:48K , while a breach to $72K could send the price to $84K.
Traders have two options right now: trade the inside of the triangle,...
The GBP/USD pair is triggering an inverse head and shoulders pattern if we ignore the March push and June 12th false breakout, and the pattern suggests a potential gain of 500 pips, reaching $1.3325. The pattern will remain in play as long as the price trades above Friday's low of $1.2751.
The push higher of 500 pips might take a few weeks, and given the tight...
Despite market challenges with Mt. Gox and the German government selling Bitcoin, Ray coin could be in the process of forming an ascending triangle pattern. The price action is currently set up as a double top at $2, but a third rejection at this level would turn into an ascending triangle pattern.
Ray could surge if Bitcoin bottoms out after the German...
What is at stake today as the US government releases the latest inflation report? And what markets can we focus on if inflation is hotter or lower than expected? Watch the video to find out.
Do your own research and proceed with caution. This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other...
GBP/JPY has just reached a new multi-year high, with GBP/USD and USD/JPY both gaining strength today. The bullish sentiment is further supported by rising US stock markets.
In the short term, the price has breached a rising wedge pattern, which is usually bearish. However, the bullish breakout indicates the price could reach 208.60 in the coming days. The...
The Canadian economy is significantly under-performing the U.S. economy, prompting the Canadian central bank to begin cutting interest rates. Despite this, the Canadian dollar has remained relatively strong.
In addition, weak economic data from the U.S. has recently pushed the U.S. dollar to new lows.
The charts indicate the potential for even lower prices,...
Bitcoin is dropping. What are the levels are bearish traders targeting, and when could the bearish momentum end? Additionally, we'll examine RNDR to discuss how we can manage the risks and rewards of the current descending triangle pattern.
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As always, do your own research and proceed with caution. This content is not directed to residents...
The EUR/AUD has edged up at the start of the European session, following a 139-pip fall triggered by a higher-than-expected Australian inflation reading of 4%. In addition, the unemployment rate remains low, causing the market to project an RBA rate hike in August while the ECB cuts rates and deals with the French elections.
This content is not directed to...
Today's UK labour market data showed a significant shift, with the unemployment rate rising to 4.4%, the highest since November 2021, and the claimant count change reaching 50.4 thousand, the highest since April 2021.
Despite this, GBPUSD is holding up relatively well, but that could all change if the May 24th low at 1.2675 is breached. If it were to happen, the...
