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DXY's Trend in Question: Support Holding, But Bulls need 102In my Friday analysis, I mentioned that if the DXY drops below the support zone, defined by the recent low and the year's starting price, we could expect further downside. Initially, following the release of the NFP data, the price did decline, but it quickly reversed after reaching the support level, forming a strong bullish reversal candle with a long tail on the chart. While we can't confirm a trend reversal yet and USD bulls are still not in out of the woods, as long as this support holds, there is a strong possibility of a move to the upside. For a clearer medium-term outlook, we need a break above the 102 level. If this happens, the path to 104 should open up, and we can expect the price to rise toward that zone.
TVC:DXY
by Mihai_Iacob
Bitcoin's Price Struggles: A Bearish Short-Term OutlookAfter dipping to 50k in early August, Bitcoin staged a recovery and climbed to 65k. However, the bullish momentum lacked follow-through, as buyers were unable to push past the resistance of a large flag pattern that has kept Bitcoin in a corrective phase for months. In the short term, Bitcoin’s price pulled back down from 65k, initially forming what looked like a falling wedge—a potential bullish reversal pattern. Unfortunately, this formation did not hold, and Bitcoin experienced another breakdown. Currently, the short-term outlook is bearish, with resistance around the 55,500-56k zone. Short-term traders may consider selling in this range, targeting a move back to 50k if a new leg downward materializes. This bearish scenario would be invalidated if the price stabilizes above the 58k level.
BITSTAMP:BTCUSDShort
by Mihai_Iacob
Ethereum could test 2k zoneAt the beginning of August, ETH/USD broke below the crucial $2,900 support level, accelerating to the downside and reaching a low of $2,300. As expected, a recovery followed, with a retest of the broken level. However, despite two attempts by bulls to reclaim the newly formed resistance in August, both efforts failed, and the price subsequently rolled back down to the recent lows. Currently, Ethereum seems to be pressing downward again, and a break below the $2,350 zone could trigger a further correction toward the $2,000 level. I remain bearish as long as the price stays below $2,600.
COINBASE:ETHUSDShort
by Mihai_Iacob
2
SL Triggered, NFP Incoming: Will Gold Push to New Highs?Yesterday, I took a stop loss, which is, of course, a normal part of trading. What’s ironic, though, is that overall, I’m bullish on Gold. Even more ironic is the fact that in my Monday analysis, I mentioned that Gold would likely test the 2480 zone before continuing its upward trend. I even spotted the 'double Pin Bar formation' at the bottom, yet I remained short. Ultimately, my ego and the desire 'to be right'—thinking Gold would dip to the 2450 zone before reversing—got the best of me. Anyway, let’s move on to today’s analysis... As I mentioned earlier, after Gold fell into the significant support area around 2480 on Tuesday, the price bounced back to the upside. The following day, despite another wave of selling pressure, the price reversed again, leaving behind a 'Double Pin Bar' formation on the chart. Yesterday, the price broke above the 2505-2507 zone, which also confirmed a short-term double bottom formation. At the time of this article’s publication, the price stands at 2518, and the entire structure we’ve discussed is highly bullish. Looking ahead, as long as the 2505 level holds, the chances for a new all-time high are very strong. The measured target, should 2530 be breached, is 2590. Currently, I’m 'out of the market,' awaiting the NFP data for further clarification. I will update my analysis accordingly once the data is released.
OANDA:XAUUSD
by Mihai_Iacob
EurUsd- Buy dips for 1.12 retestIn my last EUR/USD commentary, I mentioned that the pair could reach 1.11. That target was not only met but exceeded, with a top at 1.12. The pair is currently in a normal corrective phase, and once this correction ends, EUR/USD could resume its upward movement. My strategy is to buy on dips near the 1.10 level, with the potential for a 1:3 risk-to-reward ratio depending on the stop-loss placement. Shorter-term traders could also consider the 1.11 level as a point to take profits.
Long
by Mihai_Iacob
2
Gold possible up correctionXAUUSD continues its downward movement, closing below the 2500 level and confirming a break out of the consolidation zone. With this momentum, the market is likely to head to lower levels. Although the major trend remains bullish, this correction might find support around the 2450 level. If the market retests this area and shows rejection signs, like a bullish long-tailed bar, it could offer a good buying opportunity. A strong rebound from the 2450 support could pave the way for a continuation of the bullish trend toward the all-time highs. The target is the resistance zone at 2505
FOREXCOM:XAUUSDLong
by RTED_Investing
Gold- Stuck in a newly established range. Will support give awayYesterday, Gold once again touched the critical support zone between 2470-2475, and, as before, bulls managed to defend it, causing a price rebound. While at first glance this support appears solid, I believe it will eventually give way, with the price likely dropping to at least 2450. Of course, I could be wrong, which is why I’ve set my invalidation level in the 2515-2520 zone. My swing trade strategy remains unchanged: sell into rallies.
OANDA:XAUUSDShort
by Mihai_Iacob
8
AUDUSD potential Breakout and RetestAUDCAD has broken and closed below its consolidation zone and is currently testing the resistance level around 0.91200. It seems to be pulling back for a retest at this level. The market is showing lower lows and lower closes, signalling bearish dominance. A break-and-retest scenario is expected, where the price might pull back to test the resistance before potentially continuing downward. This is a key level to monitor, as holding here could confirm the continuation of the bearish trend. The target is the support level at 0.90775
Short
by RTED_Investing
Gold - What to expect in September?XAUUSD spent the week in a consolidation zone, trading back and forth without notable progress. The price tested resistance several times, but we didn't see higher highs or closes. On the weekly chart, two doji candles in a row suggest a breakout—above or below last week's range—could be near. Based on price action alone, the market appears overextended, excluding fundamentals. Since March, only bullish months have been observed, with June neutral. A strong divergence on the weekly timeframe signals a possible pullback. Reviewing September trends from the last five years shows a bearish tendency, even amid a broader bullish trend. This pattern hints at a deeper pullback toward the 50% retracement of the previous month’s range. Still, caution is needed after two neutral weekly candlesticks to avoid chasing the market.
FOREXCOM:XAUUSDShort
by RTED_Investing
Nas100- Lower top in place?In early August, the NAS100 broke below the support line of a channel that had kept the tech-heavy index elevated for nearly a year. However, after reaching the horizontal support zone around the 17,000 level, the price quickly rebounded and returned to the key 20,000 area. Despite this recovery, the bulls couldn’t maintain momentum, and two days ago, the index once again dropped below the trendline. These movements suggest signs of weakness, and a further correction may be on the horizon. I’m looking to sell into rallies around the 19,200-19,300 zone, with a target at the recent low above 17,000.
PEPPERSTONE:NAS100Short
by Mihai_Iacob
1
TRXUSDT CorrectionTRXUSDT is currently pulling back after forming a double top at a resistance zone. The price is now testing a previous support level, and there is a chance it could dip below this support, given the liquidity below this level and near the February highs. The market has already seen a pullback of around 12%, with the potential to extend to a 15% pullback. This price action might develop into a trend continuation pattern, possibly forming a triangle as it consolidates. If the market finds sufficient buying pressure at these lower levels, it could set the stage for a future upward move. The target is the resistance zone around 0.1618
Long
by RTED_Investing
Bulls Held Their Ground, But Will the Ground Hold Them?In the past two days, I've emphasized the importance of the 2480 support zone, suggesting that the price was likely to test this level before potentially reversing. This prediction played out as expected, with XAU/USD indeed dropping to that specific zone. However, my bullish outlook has shifted, and here’s why: Failure to Break 2500: Most importantly, yesterday the price attempted twice to stay above the 2500 level but failed both times. The second attempt was met with aggressive selling, and that time support zone was hit. Signs of Distribution: Over the past three weeks, price action has been sluggish, resembling a distribution phase rather than accumulation. The lack of momentum in making a new all-time high is concerning. On the daily chart, while there is a Pin Bar that typically signals a reversal, it's of poor quality—featuring a red body and a large upper shadow ("nose"). In conclusion, I am now looking to sell above 2500, but I plan to keep a tight stop. Best of Luck! Mihai Iacob
OANDA:XAUUSDShort
by Mihai_Iacob
9
DXY- Where to?After forming a double top above the 106 level, with the second top occurring at the beginning of July, the DXY (US Dollar Index) began to decline. After breaking the 104 neckline of this pattern, the index tumbled to the key support level at 100.50, which coincides with the price level from the start of the year. As expected, the price started to recover, and at the time of writing, it is trading at 101.66. Although there has been a rebound from support, it's too early to consider the trend reversed. For a confirmed reversal, the price needs to break back above the 102.50 zone. If this happens, the price could continue upward, with a longer-term target around the 106 level and an interim resistance at 104. Conversely, if the index fails to break above 102.50 and drops back to 100.50, there is a high probability of a further decline, with 98 as the next target.
TVC:DXY
by Mihai_Iacob
EURUSD Buy from the confluence zoneEURUSD closed bullish on the monthly timeframe but faced resistance and pulled back from that zone. The price is now retracing toward the psychological level at 1.1000, which acts as a key support area. On the daily chart, the market remains in a bullish trend, suggesting that this pullback could offer a chance for a rebound. The market may bounce off a confluence zone created by the lower channel boundary, a trendline, and the psychological level at 1.1000. This combination of support factors could provide a strong base for the market to continue its upward momentum. The target is the resistance zone at 1.11350
Long
by RTED_Investing
EURUSD - correction from the Resistance zoneEURUSD is currently approaching a weekly resistance level that was last tested in December 2023. Since this resistance level previously triggered a bearish reversal, we could see a potential short-term pullback or choppy price action in this area. The price might attempt a false breakout above both the channel border and the resistance level, which could lead to a short-term correction in the market. The target is the support level around 1.10500
Short
by RTED_Investing
TEVA Pharmaceutical is a BUY?As the excitement around AI continues to wane, concerns about a potential US recession grow, and the risks of a major conflict in the Middle East linger, Teva Pharmaceutical's stock is entering an accumulation phase above $18, signaling strong bullish sentiment. Why Wall Street's bullish in this drug company ? First, on July 31, Teva announced its financial results for the second quarter of 2024, demonstrating that the company remains resilient despite years of investor disappointment following the Allergan Generics acquisition and the loss of Copaxone exclusivity. However, over the past 18 months, under Richard Francis' leadership, the company has shown significant growth, with increasing revenue and profits in its European and US segments, the successful launch of biosimilars and Uzedy, and record sales of Austedo, its blockbuster treatment for certain neurological disorders. Alongside rising sales of generics, Teva has also accelerated the development of innovative medications, which could set new standards in treating schizophrenia and some chronic inflammatory diseases. For instance, on July 25, the company delighted investors by announcing that it had completed patient enrollment ahead of schedule in a Phase 2b clinical trial assessing the efficacy and safety of duvakitug for treating ulcerative colitis and Crohn's disease, driven by strong interest from healthcare professionals and patients. Teva Pharmaceutical's financial performance and 2024 outlook After years of challenges, the Teva revenue exceeded $4 billion once again, reaching $4.14 billion in the second quarter of 2024, a 7.4% year-on-year increase that surpassed consensus estimates by $114 million. Meanwhile, another critical financial metric, earnings per share aka EPS, exceeded my expectations despite rising costs associated with conducting expensive clinical trials for assessing the efficacy of Teva's biosimilars and experimental drugs targeting neurodegenerative and autoimmune disorders. The Israeli company's EPS reached $0.61 for the three months ending June 30, 2024, marking a 27.1% increase from the previous quarter and surpassing analysts' forecasts by six cents. What factors contribute to Teva Pharmaceutical's success? To answer this objectively, it's essential to examine not only the impact of sales from individual medications but also to delve deeper into how effectively the company's management is handling the development of each of Teva's business segments. We'll begin with the United States segment, which significantly influences Teva's financial standing. For the three months ending June 30, 2024, revenue in this segment reached $2.12 billion, reflecting an 11.5% year on year increase and a 22.3% rise from the previous quarter. First, Teva's revenue and profit growth were largely fueled by significant advancements in its generics business, despite facing stiff competition from companies like Viatris (VTRS), Dr. Reddy's Laboratories (RDY), Perrigo (PRGO), and others in the market. In the second quarter, total sales of generic products reached approximately $1.03 billion, marking a 26.6% increase from the previous quarter. What factors led to the recovery of Teva's generics business? The resurgence of Teva's generics business in the U.S. was primarily driven by the launch of an interchangeable biosimilar to AbbVie's Humira (ABBV), rising demand for generic versions of Bristol-Myers Squibb's Revlimid (BMY), a major blockbuster for treating multiple myeloma, the generic version of Novo Nordisk's Victoza (NVO) for type 2 diabetes, and the expansion of its drug portfolio. The soaring sales of Copaxone and the strong performance of Austedo, which I analyzed in detail in a previous article, were also notable. Despite increasing competition in the U.S. tardive dyskinesia therapeutics market from Neurocrine Biosciences' (NBIX) Ingrezza, Austedo's demand continued to grow. Sales of the Austedo franchise reached $407 million in the second quarter of 2024, a 32.1% YOY increase, driven by expanded patient access and the FDA's late May approval of Austedo XR in four new tablet strengths, giving doctors more options for optimizing treatment regimens for adults with tardive dyskinesia and Huntington's disease-associated chorea. I also want to highlight Uzedy, a long-acting formulation of risperidone, as another key contributor to Teva's revenue growth. Although the company launched Uzedy in May 2023 and has not yet disclosed its sales figures, it has been approved for the treatment of schizophrenia. However, as evident from the chart below, the total number of prescriptions has been steadily increasing month over month. Teva Pharmaceutical estimates that its revenue from Uzedy will be around $80 million in 2024, exceeding my expectations by approximately $25 million. Despite ongoing growth in demand for this anti-CGRP migraine medication, its sales amounted to $42 million in the second quarter of 2024, a decrease of 6.7% compared to the previous quarter and 19.2% year-on-year. This decline was primarily due to an increase in sales allowances linked to a one-time event. Now, let's turn our attention to the company's Europe segment, which generates most of its revenue through sales of generics and biosimilars. For the three months ending June 30, 2024, sales in this segment reached approximately $1.21 billion, reflecting a 4.3% year-on-year increase, driven by new product launches and growing demand for Ajovy. However, sales of respiratory medications continue to face challenges due to a decline in cold and flu cases. As anticipated, demand for Copaxone is weakening, not only because of competition from generic versions but also due to the availability of more effective treatments for relapsing forms of multiple sclerosis, such as Bristol-Myers Squibb's Zeposia, Roche Holding's Ocrevus and TG Therapeutics' Briumvi (TGTX). Lastly, let's discuss the International Markets segment, which focuses on commercializing Teva's drugs across 35 countries, including Canada and Japan. In the second quarter, revenue for this segment was $593 million, representing a 2.6% YOY increase. However, the segment's profit dropped significantly to $73 million quarter over quarter, due to declining demand for Copaxone, increased R&D expenses, and higher sales and marketing costs related to the distribution of Austedo in China. The question arises: "Are there any positives?" The short answer is yes. Teva's revenue from generic drugs has been on an upward trend in recent years, with the exception of the fourth quarter of 2023. For the three months ending June 30, 2024, it reached $488 million, marking a 2% increase from the previous quarter. What is driving this sales growth? Despite challenges such as the weakening of foreign currencies like the Japanese yen, ruble, and Chinese yuan against the US dollar, increased competition in Japan, and ongoing inflationary pressures on the pharmaceutical industry, Teva’s management has successfully navigated these obstacles by expanding its medication portfolio and raising prices. Now lets talk about Risks Several risks could negatively impact Teva Pharmaceutical’s investment appeal in the medium to long term. At the end of July, Teva reported financial results for the second quarter of 2024, which not only exceeded analysts' expectations but also reinforced confidence in the effectiveness of the business strategies implemented by CEO Richard Francis. In addition to accelerating the recovery of the company's generics business, boosting sales of Austedo and Uzedy, and launching the Humira biosimilar in May, Teva also raised its full-year 2024 guidance. With a P/E ratio of 6.35x, which suggests the stock is trading at a discount compared to the broader healthcare sector, other positives include the reduction of Teva’s net debt by about $2 billion over the past 12 months, as well as year-over-year growth in gross and operating profits. To understand who truly holds control over Teva Pharmaceutical Industries Limited, it's crucial to examine the company's ownership structure. The largest share of ownership, approximately 69%, is held by institutional investors. This means that this group stands to experience the greatest potential for gains or losses, depending on the company's performance. The company has also accelerated the development of its product candidates under its "Pivot to Growth" program, which aims to strengthen its balance sheet and enhance its investment appeal by expanding its biosimilar portfolio and bringing potential best-in-class drugs for cancer, neurological, and autoimmune disorders to market. So TEVA Pharmaceutical is a BUY? YUP
NYSE:TEVALong
by moonypto