The technical picture of DAX on our daily chart shows that the index is currently stuck between two trendlines - a short-term downside resistance one taken from the high of February 9th and medium-term upside support line drawn from the low of October 3rd. Given that DAX has been on a roller coaster ride for the whole month of February, we need to see a clear...
From around the beginning of December 2022 GBPUSD is trading inside a range, roughly between the 1.1840 and 1.2440 levels. As long as the pair stays inside that pattern, the medium-term outlook remains neutral. We need to see a clear breakout through one of the sides of the range in order to consider the next medium-term directional move.
From a short-term...
Waiting for EURCHF to make a breakout, before considering the next short-term directional move.
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AUDUSD seems to be forming a possible falling wedge pattern, which, according to all the TA rules, tends to break to the upside. However, a confirmation break through the upper side of it is still needed, in order to get comfortable with a move towards higher areas. Until then, if the pair stays inside the pattern, it may continue...
WTI Oil continues to move sideways. We need a clear breakout through one of our levels in order to consider the next short-term directional move.
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Taking a conservative approach and waiting for a clear breakout either through the 1845 barrier, or the 1825 hurdle to consider the next short-term directional move.
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The S&P 500 is near a medium-term upside support line, drawn from the low of October 13th, 2022. Also, we can see that the psychological 4000 zone is something to be carefully monitored. If that whole territory gets violated, further declines are possible.
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Waiting for GBPCAD to go for a breakout. Canadian CPIs and Retail Sales are the ones to watch for today, as the data may bring much needed volatility for the pair to make a stronger move.
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In the short-run, ASX 200 may continue drifting lower, while trading within a falling wedge pattern. Although this pattern tends to be a bullish indication, as long as the boundaries of that barrier are respected, the slide may continue. But, don't forget that...
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The technical picture of BCHUSD on our daily chart shows that there is potential for the crypto to go for a higher high after coming closer to the 143 territory, near the current highest point of February. BCHUSD is already near a key resistance barrier of 140. If the pair surpasses it, we may get a bit more comfortable with further advances.
In order to...
On February 15th we mentioned there might be a possible falling wedge pattern forming, meaning that we could see some short-term advances. Indeed, the commodity broke out higher, however, in order to continue with the upside, a push above the 21.82 barrier would be needed. But even then we would only aim for the 200-day EMA, or even the 100-day...
Seeing a small retracement back down on DXY, after some bullish performance last week. If the index continues to trade above that short-term tentative upside support line, drawn from the low of February 2nd. More buyers may join on a break above the current highest point of February, at around 104.61.
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DAX traders still remain undecided on where the index is heading. On one hand, we remain above a medium-term upside line, meaning that the trend is still to the upside. However, if that medium-term trendline breaks, this could open the door towards much lower areas,
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After another week of declining, Gold has reached one of our targets, near the 100-day EMA. On Monday we mentioned the target in our quick morning analysis. If the commodity today remains above the that EMA, we may see a slightly rebound towards the short-term tentative downside resistance line. However, a decent fall below the 1825 hurdle could clear the path...
The DJIA index continues to slowly form higher lows, however it is currently struggling with key resistance near the 34500 level. In order to see further advances, a break of that area is required. We will then target the highest points of December and April 2022.
For the downside, a break of the short-term tentative upside support line would be needed. Also, a...
The technical picture of AUDNZD on our daily chart shows that the pair is forming a rising wedge, which can be considered as a bearish indication. That said, as long as the rate remains inside that pattern, the near-term outlook could stay positive. However, once the the lower side of the wedge pattern gets violated, this may open the door towards lower levels....
XRPUSD is currently trading between two tentative trendlines, a short-term upside one, taken from the low of January 6th, and a medium-term downside one, drawn from the high of October 9th. In order to consider the next short-term directional move, a break through one of the trendlines is required. However, more buyers may join in if the crypto climbs above all of...
In order to get comfortable with further advances, a break above the 1715 territory is required. If the crypto continues to trade above that barrier after the break, there could be more buyers joining in, potentially dragging ETHUSD towards the highest points of September and August 2022.
Alternatively, a drop below the short-term upside line, drawn from the low...
