Priceanalysis
EUR/USD Daily Chart Analysis For Week of June 21, 2024Technical Analysis and Outlook:
The Eurodollar has hit our Mean Support of 1.067, as indicated in the Daily Chart Analysis for the Week of June 14. Currently, the currency is performing a dead cat rebound gig back to the completed Mean Res 1.074 target.
Bitcoin(BTC/USD) Daily Chart Analysis For Week of June 21, 2024Technical Analysis and Outlook:
Bitcoin hit our Inner Coin Dip of 64500 on the money and dipped to a lower target marked as Inner Coin Dip 63100. We anticipate a robust upward bounce from this point to reach the mean resistance level of 66500.
S&P 500 Daily Chart Analysis For Week of June 14, 2024Technical Analysis and Outlook:
The Spooz achieved the designated downside target of Mean Support 5325 before ascending to fulfil two significant milestones: the Inner Index Rally 5408 and the subsequent Outer Index Rally 5450. Presently, the index is poised for upward movement, with two distinct targets: the Inner Index Rally 5480 and the subsequent Outer Index Rally 5560. In a downward scenario, it is anticipated that Spooz may test the newly established Mean Support level of 5401, which is expected to catalyze reigniting its bullish trend.
EUR/USD Daily Chart Analysis For Week of June 14, 2024Technical Analysis and Outlook:
The Eurodollar has achieved two of our downward trend targets in the current week's trading: Mean Support at 1.075 and 1.067, respectively. The remaining downside targets continue to be valid. The ultimate target for the completed Inner Currency Dip is 1.060 and 1.054; out of most, the completed Outer Currency Dip is 1.045. On the upside, the dead-cat rebound is set to target Mean Resistance at 1.073.
Bitcoin(BTC/USD) Daily Chart Analysis For Week of June14, 2024Technical Analysis and Outlook:
Bitcoin consistently reached our defined Mean Support of 67500, as outlined in the Bitcoin Daily Chart Analysis for the Week of June 7. Additionally, it surpassed this level, touching our Mean Support 65000. Upon completing the Inner Coin Dip 64500 and validating the end of the down movement, we anticipate a renewed Bull Stage trend, initially targeting the designated Mean Resistance.
S&P 500 Daily Chart Analysis For Week of June 7, 2024Technical Analysis and Outlook:
In this week's trading, the S&P 500 hit our anticipated resistance level of 5323 and retested the completed Outer Index Rally of 5342. The index is prone to drop to Mean Sup 5325 and possibly to the next level of Mean Sup 5285 before continuing its journey to the next Inner Index Rally 5408.
EUR/USD Daily Chart Analysis For Week of June 7, 2024Technical Analysis and Outlook:
In this week's trading, the Eurodollar has completed our Inner Currency Rally of 1.091 and reverted sharply to our designated target of the Mean Sup 1.080. The currency is expected to continue its downward trajectory to Mean Sup 1.075 with a follow-up Dead-Cat rebound to the reverted resistance level of 1.080 (Previous Mean Sup). The ultimate target of the well-established completed Innet Currency Dip 1.060.
Bitcoin(BTC/USD) Daily Chart Analysis For Week of June 7, 2024Technical Analysis and Outlook:
Bitcoin has completed our designated Intermediary Squeeze Rebound 71500 and is on its way to continue the downward movement to a Mean Sup 67500, where we are expecting a Bull Stage movement to take place to retest the Mean Res 71500 and Key Res 73200, respectively.
S&P 500 Daily Chart Analysis For Week of May 31, 2024Technical Analysis and Outlook:
In the shortened trading week, the S&P 500 hit our expected resistance level of 5323 and promptly fell as part of the renewed upward movement toward the support level of 5257 and the nearby support level of 5221. A solid upward bounce is on its way to target our newly identified key resistance level of 5323 for the upcoming trading week.
EUR/USD Daily Chart Analysis For Week of May 31, 2024Technical Analysis and Outlook:
In this week's trading, the Eurodollar bounced off our Mean Res 1.089 and 1.086, respectively, to our Mean Sup 1.081, with a swift and aggressive rebound back to Mean Res 1.086. On the downside, the currency is prone to hitting the Mean Support level of 1.080 once again and targeting a well-established price level of 1.075.
S&P 500 Daily Chart Analysis For Week of May 24, 2024Technical Analysis and Outlook:
The S&P 500 reached our projected Outer Index Rally at 5342 and then quickly retraced as part of the primary reignited squeeze move path. It is unlikely that it will drop to the primary down target Mean Support at 5221. However, it may continue to advance towards the completed Outer Index Rally at 5342, the Inner Index Rally at 5408, and the next Outer Index Rally at 5450. The secondary reignited squeeze triggering points are at specified destination pinpoints.
EUR/USD Daily Chart Analysis For Week of May 24, 2024Technical Analysis and Outlook:
The Eurodollar bounced off last week's established Mean Resistance level of 1.089 and reached our specified lower target of the Mean Support level of 1.082. The likelihood of revisiting the Mean Resistance level of 1.089 and reaching the Inner Currency Rally level of 1.091 is slim. On the downside, the currency is prone to hit the Mean Support level of 1.081 and target a well-established price level of 1.075.
Bitcoin(BTC/USD) Daily Chart Analysis For Week of May 24, 2024Technical Analysis and Outlook:
Bitcoin has broken through our Mean Resistance at 66900, completed our Inner Coin Rally at 69800, and then pulled back to the trading zone. The target for an upward movement is now set at the newly established Mean Resistance at 71500 and the aged Key Resistance at 73200. On the downside, we are looking at the newly established Mean Support at 67100 and a possible extension to Mean Support at 65000.
Two Paths. Point Of Decision Will Be Made Soon.Traders,
It is ad nauseam that I have been referring to my multi-year support/resistance trend line. But here we are again. Interestingly enough, it is also currently intersecting the top of my bullish descending wedge, making a critical area of confluence to become resistance.
As I see it, there are now two paths for Bitcoin. A break to the top side would indicate that accumulation is over and it is now time to look long.
A drop to the downside would indicate a retest of the bottom of our triangle may be to come. Notice that the bottom of the triangle also intersects with our ascending purple trend line AND 0.5 fib retracement at around 56k.
My perspective is that 56k is our local low. Though, we could retest that level again, I believe that it will hold.
At this point, traders looking to enter Bitcoin long, may want to wait for either confirmation of a break to the upside of our triangle on the daily or confirmation of our 56k local bottom via retest and hold.
Best,
Stew
S&P 500 Daily Chart Analysis For Week of May 17, 2024Technical Analysis and Outlook:
In the S&P 500 Daily Chart Analysis for the Week of May 10th, it was observed that the market successfully retested the Key Resistance at 5260 and the Outer Index Rally at 5280. It is suggested that the Outer Index Rally at 5342 will be reached after hitting the newly established Key Resistance at 5314, followed by a potential move to the primary down target Mean Support at 5221. Additionally, there is a possibility of further advancement towards the Inner Index Rally at 5408 and the next Outer Index Rally at 5460, with the secondary triggering points at destination points.
EUR/USD Daily Chart Analysis For Week of May 17, 2024Technical Analysis and Outlook:
During this week's trading session, the Eurodollar made a spectacular surge on the upside to our Inner Currency Rally 1.084 and a lot more. Current market conditions suggest that the Eurodollar may continue upward momentum to complete our Inner Currency Rally 1.091 via the newly created Mean Res 1.089. On the downside, the currency is prone to go down to Mean Sup 1.082 and possibly Mean Sup 1.076.
Bitcoin(BTC/USD) Daily Chart Analysis For Week of May 17, 2024Technical Analysis and Outlook:
Bitcoin surged in this week's trading session as projected. The coin slammed through Mean Res 64000 and rests comfortably at Mean Res 66900 as of this writing. An intermediate pullback is anticipated, expected to pave the way for a renewed Bull Stage movement, with targets set on the Inner Coin Rally 69800, Key Resistance 73200, and beyond.
S&P 500 Daily Chart Analysis For Week of May 10, 2024Technical Analysis and Outlook:
The index reached our projected Mean Res 5200 and swiftly jumped higher to press on to our Key Res 5260 and anticipated outcome of Outer Index Rally 5280; this upside move will trigger a strong squeeze pullback to Mean Sup 5178 and 5108. However, Spooz could go down to hit the two Mean Support levels from its current position before going to the mentioned support targets.
EUR/USD Daily Chart Analysis For Week of May 10, 2024Technical Analysis and Outlook:
During this week's trading session, the Eurodollar fluctuated around our significant Mean resistance level of 1.080. There are projections that the currency may experience an upward surge and complete the Inner Currency Rally of 1.084 before undergoing a downward transition to the Mean Support level mark of 1.074 and possibly further down to designated targets. However, it is also possible that the Eurodollar might go down to hit the Mean Support level of 1.074 from its current position.
Bitcoin(BTC/USD) Daily Chart Analysis For Week of May 10, 2024Technical Analysis and Outlook:
Bitcoin has consistently respected our Mean Res 64000 in this week's trading with the projected Intermediary Squeeze Retest target to Key Sup 58300 and completed Inner Coin Dip 57200, which is in progress. This is expected to lead to a renewed Bull Stage movement, targeting the Mean Res of 64000, 66900, and beyond once again.
S&P 500 Daily Chart Analysis For Week of May 3, 2024Technical Analysis and Outlook:
The index reached our projected Mean Sup 5013 and swiftly jumped higher by suppressing our played-out interim Dead-Cat Rebound Mean Res 5110. Now, the index is moving to complete our Inner Index Rally 5175. This upside move will trigger a strong squeeze pullback to Mean Sup 5013.
EUR/USD Daily Chart Analysis For Week of May 3, 2024Technical Analysis and Outlook:
The Eurodollar experienced significant volatility during this week's trading session, with an upward movement that surpassed our Mean Resistance level at 1.075. As a result, a new resistance mark has been established at 1.080. However, it is projected that the currency will experience a downward transition to the Mean Support level mark of 1.066. It will dip further to retest the previously completed Inner Currency Dip at 1.060. Furthermore, the currency is anticipated to continue its downward trajectory, reaching our next Inner Currency Dip level at 1.054.