The dollar ended the week with a strong-bodied bearish candle as it fell every day throughout the week. The price is seen breaking below the bottom of an ascending triangle which was formed after the previous bearish trend started from the highest price at 103.8. Seeing how bearish the trend is last week and the fact that it also broke below a consolidation...
The Dow Jones started to recover and climbs since 23rd March, forming a 1-month rising wedge in the process. Last week, the price finally broke below the rising wedge and created a lower low. However, the price took a pause quickly and fell into a consolidation. The price retraced throughout the last half of the week, seemingly forming a retracement channel...
EURUSD was trading with little volatility but managed to fall throughout the week. Both highs and lows also continued to drop lower but there are clearly some strong buyers emerging from the demand zone between 1.0721 and 1.0782. Nevertheless, thee MAs are still showing a strong bearish-bias market and the price is expected to fall eventually. This week, we will...
The gold was little changed at first but rose steadily during the 2nd half of the week. However, the price was resisted and reversed shortly and broke below a rising trendline once again. Sellers started to take control on the last trading day during the US session. As of current, the price has shown resistance and trading near the top while both highs and lows...
The dollar climbed and created both higher highs and lows throughout the entire week. The fast MAs are also bending upwards while staying moderately above the 200 MA, showing an increasingly bullish-bias market. Besides, the price has recently broken above a bullish pennant which signifies for the dollar to continue its uptrend. This week, we expect little...
The Dow Jones has been climbing for the past month since it tumbled to the lowest amid COVID-19. In the process of recovery, it formed a rising wedge which was seen thoroughly broken below last week. This week, the price pulled back from the fall but found itself resisted at the 618 retracement level. The price then fell and broke below a minor rising trendline...
The gold peaked twice at 1739 and started to fall amid a bearish butterfly formation. Gold continued its bullish stance from the previous week as it climbed steadily in the first 2 trading days last week. After peaking at 1747, a strong pullback took place and price started to fall and lower highs were formed while still supported at 1710. On Thursday, the price...
The dollar completed 2 minor bullish waves and started to fall last week. Looking at the bigger picture, the dollar actually started to fall again from the top of the near 2-year rising channel. The dollar is no longer strengthening as the US economy undergone a huge setback in the face of the pandemic. The fed is currently printing an unlimited amount of money to...
The dollar rose for the 2nd consecutive week and reached a 4-month supply zone. Fed Chairman Powell was hawkish in his last testimony and inflation rate hit a 15-month high. Combining the development of the technical price and the underlying fundamentals, the dollar will eventually break new high again. However, the dollar might be too overbought and may pull back...
While NZDUSD retraced expectedly before rising further, the current movement suggested further retracement before the rebound. What's confirmed now is that NZDUSD has broken away from a previous bearish structure and recently also broke out of a consolidating structure towards the upside. The price is expected to retrace 0.6615 where it broke out from a bearish...
NZDUSD has been on the rise since it found support and rebounded off from a 4 year low around 0.6200. In the process of the rebound, the price has broken a few critical resistance levels such as the 8-month falling trendline. There's little doubt that NZDUSD is in a bullish structure while the dollar is also weakening. Just recently, the price has broken out of a...
EURUSD continued to recover from the month loss after forming a Gartley pattern and rebounded off from a 2-week demand zone. The rebound is still seemingly below moderate but higher lows have helped the price to remain a bullish structure. German CPI was just confirmed to perform at a 5-month high and could help to boost EURUSD later. Traders can wait for a...
Non-farm payrolls report will be released later today. At the same time next week Fed will meet regarding their monetary policy. A weak NFP report may raise the chances of a Fed rate cut in March, but we don’t think it’s going to influence the Fed at its next meeting on December 11. Risk appetite is also wobbly, which means that a softer report could have a...
The gold jumped in the first hour when the market opened but fell into consolidation immediately afterwards. This move showed the intention of accumulating buy orders at the top what would be the best to do now is to wait. Wait for the price to retrace lower, wait for the patience of those who chased at the top to run out of patience. The first point of re-entry...
Gold might retrace first before uptrend resumes.
AUDJPY may or may not revisit 84-85 area before becoming bullish once again. But a break of previous high 87.53 will suggest that trend is up again.
USDJPY being bearish for a limited time.
Crude Oil Energy still bullish (long term). eeetradinganalysis.wixsite.com