Buyers in the Dow Jones are likely frustrated given the recent gains in other stock indices, and as sellers are aggressively challenging the bullish uptrend, with the index nearly erasing all gains of its 5% rally off the November 19 low. As the price approaches a prior consolidation zone between 43,319 and 43,557, a reaction is likely, potentially forming a...
Litecoin is forming a rectangle pattern, indicating a potential $9 move depending on a bullish or bearish breakout. Given the overall bullish trend, a breakout to $124 is more likely to succeed than a breach to $115.17, as shown on the chart.
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It will take a few more weeks for a proper pattern to form, but gold prices are carving out a rectangular pattern. The chart shows potential target levels following a breakout.
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Watch XRP, the price has been stuck in a channel since December 3rd, but now, 10 days later, it is attempting to break out and is testing the upper boundary of the channel. The RSI has already broken its trendline, suggesting momentum is turning upwards. However, these channels are not the most reliable patterns. A breach to the 2.4850 high would increase the...
There's been minimal follow-through on USDCHF's bullish push this morning after the Swiss National Bank cut rates by 50 basis points instead of the expected 25.
The limited reaction is due to the SNB's preemptive approach. They are aggressively cutting rates because inflation is at 0.7%, and with the new rate at 0.5%, the real yield is effectively negative by 30...
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Crypto traders have plenty of reasons to be excited. The next few days could bring significant movements in BTC. A majority of the losses from the December 5 crash, which followed the previous all-time high, have already been recovered. Furthermore, the...
The Nasdaq 100 is up 1.25% at the time of publishing this outlook, and the price is just 84 basis points away from reaching the target we highlighted at the beginning of the month. At that time, we noted that a break above $21,220 could lift the index to $21,884. The new trend-defining level is yesterday's low of $21,354, and if the price dips toward $21,565,...
The U.S. consumer price figures were not enough to trigger a slide in EURUSD, nor did they lead to a rebound. Instead, the market is trading sideways as we await tomorrow's ECB rate meeting. The ECB is expected to cut rates, with the possibility of signaling a 50-basis-point cut in upcoming meetings due to weak economic growth and inflation at target.
From a...
The new head of the SEC, Paul Atkins, with a background in a digital asset think tank, has sparked excitement about the future of crypto. However, as we've seen in recent days, profit-taking has been significant. Solana is down roughly 22% from its all-time high, and the price is now testing the highs from March and the lows from November. This key area spans from...
Bitcoin prices pushed above the $100K mark, sparking euphoria across the world. However, that excitement quickly turned into despair as the euphoria marked a local top in prices. Yesterday, significant gains in altcoins were wiped out.
The reason is simple: the returns in altcoins have been phenomenal, and investors are eager to book profits. Additionally,...
AVAX hit our target of $53.61 on Tuesday, and the price is once again attempting to form a head and shoulders pattern, suggesting a potential move lower. However, given the overall bullish market conditions, it’s too early to turn bearish or short.
With that in mind, as long as the price stays above $47.61, which is Tuesday’s low, the upward trend is expected to...
Solana has broken out of the wedge pattern that has dominated its price movement since November 22nd, as it attempts to catch up with Ethereum and Bitcoin. The price pattern will remain valid as long as it trades outside the wedge, particularly above the $235.70 level.
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The Nasdaq 100 moved higher as expected. The price has now formed a possible double top with a neckline at 21,200 and a target of 21,884. The pattern might morph into an ascending triangle, which would favor the bulls.
Tactically, traders have a few options for betting on the trend and a potential Christmas rally. One option is to wait for a decline to the...
EURUSD has been forming an inverse head and shoulders since November 14. However, it’s too early to assume prices will head higher, especially given the fundamentals, which all favor the downside. Coupled with yesterday’s slide, this suggests prices could move lower as long as they remain below 1.0550. The next support levels are 1.0465, followed by 1.0425. What’s...
Last week, we highlighted a small triangle pattern that triggered, but the price retraced to the entry level. Examining today’s price action and focusing on price points from November 22nd, an inverse head-and-shoulders pattern appears to be forming. This suggests that a break above $98,265 could lead to a rally toward $106,646 per coin. Alternatively, it might be...
Gold prices are trading within a triangle, which itself is nested inside a larger triangle. Predicting the next move is, therefore, tough. Yet, the fundamentals are clearer and not in gold's favour. On one side, Trump is attempting to broker peace between Ukraine and Russia, and on the other, potential tariffs from the new Trump administration are boosting the...
Brent crude oil prices are stuck in a large descending triangle, with a breach to $70.31, the lows from October and September, suggesting a decline to $64.27 per barrel, representing a potential slide of 8.47%. However, if the price breaks above the trendline side of the pattern and surpasses the November 25 high of $74.83, it could rise to $79.91.
This...
GBPJPY remains in a strong downtrend but is approaching daily support levels, making caution essential. The risk-to-reward ratio favors a downside move between 191.75 and 192.63. If the price turns lower from these levels, a retest of the low 190.46 would be a reasonable expectation. However, a push above 192.63 could signal the start of a reversal.
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