EURUSD sold off last week after FOMC decision. It halted its decline at 1.18471 USD. We think this downward pressure is just temporary until market processes what was conveyed at FOMC. Currently, we think that EURUSD is very attractive in terms of pricing. RSI reversed to the upside from oversold area on daily timeframe. In addition to that MACD direction seems to...
EURUSD shows divergence between price and RSI. This is coincides with same action in gold. Our short term price target remains 1.20 USD. Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is...
We continue to observe divergence between price and RSI. This phenomenon is very similar to one that occured in gold recently just before reversal to the upside. We expect same to occur in EURUSD. Support currently sists around 1.18067 USD while resistance appears around 1.19753 USD. Overall we are bullish, however, if support becomes violated this could...
On 16th June 2021 we said that we might see small and shortlived correction towards 68 USD per barrel. However, USOIL stopped its decline at 69.80 USD on 17th June 2021. Then it reversed back up and made a new peak. Our medium term price target remains at 75 USD per barrel. MACD, Stochastics and DMI are all bullish. Although, RSI remains in overbought zone. In...
FMV has been trading within rectangle pattern for some time now. Currently, FMV has neutral trend and it oscillates between its support at 12.34 EUR and its resistance at 15.445 EUR. Neutral trend is reflected in low ADX value. Stochastics and MACD are bearish. However, RSI shows first signs of reversing to the upside. We think that mining stocks within precious...
Drop in XAUUSD this week may be perplexing to many people. However, yesterday we outlined case for divergence between price and RSI. This is very positive developement for price of gold. Our short term price target remains 1810 USD per ounce. Our prior thoughts from 28th June 2021: Here we covered technical indicators and outlined case for divergence between...
After FOMC decision and subsequent fall of gold XAUUSD has been in neutral trend for more than a week now. This is well visible on 1-hour time frame and simultaneously reflected in low ADX value. On 1-day time frame RSI reversed from oversold area and gained bullish direction. MACD slowly loses momentum but Stochastics remains bearish. ADX value remains high and...
Many analysts expect correction to occur in the US stock market over the summer. Because of that we prepared for you interesting setup to watch on ES1!. Last week ES1! broke below its support (yellow line) which is very bearish. Simultaneously, MACD, Stochastics and RSI are all bearish. Though, we would like to watch ES1! for couple more days before coming to any...
Yesterday gold halted its decline at 1767.295 USD per ounce and we saw heavy accumulation below 1800 USD pricetag. MACD remains bearish. RSI and Stochastics show signs of being oversold. In addition to that RSI seems as it wants to reverse back to the upside. However, investors should be wary that drawdawn towards 1750 USD is still possible. Though, we do not have...
ABNB has been publicly traded since 10th December 2020. ABNB has enjoyed wild ride up and down since then. Currently, we think there is high possibility that ABNB bottomed out on 19th May 2021 and that there is good chance it will continue upwards. Stochastics, MACD and RSI are bullish. In addition to that moving averages are also bullish. We would like to update...
NQ1! reached 14000 points and our previous medium term price target. Technicals remain bullish. Therefore we would like to update our medium term price target to 14200 points. Previous developements from 2nd June 2021: Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as...
USOIL reached our short term price target of 72.50 USD per barrel. Because of that we would like to update our thoughts on WTI oil. Moving averages and MACD remain bullish. However, price traveled too far from its 20-day Simple Moving Average. At the same time RSI reached overbought levels. Our medium term price target remains at 75 USD per barrel but we think in...
Yesterday gold plunged to 1803.636 USD after FOMC decision. FED announced that it expects 2 rate hikes in 2023 and possibillity of tapering talks. We think market might take some time to proccess this information. In addition to that support at 1852 USD has been taken out and RSI, Stochastics and MACD are all bearish on daily timeframe. Gold travelled back below...
Simple Moving Average (SMA) The origin of inventing the Simple Moving Average (MA) is not clear. Although, some of the first documented cases of its use date as far back as the early 20th century. Implementation of moving averages in technical analysis is one of the most successful methods of identifying trends. Moving averages are simply constant period...
Recently some of our readers requested analysis of indices. Because of that we prepared simple and concise analysis of continuous futures contract NQ1!. Technicals such as MACD, RSI and Stochastics are all bullish. However, resistance sits at 13900.50 points and current trend is very weak which is reflected in low ADX value. Though, we think there is still strong...
Last week gold halted its decline at 1856.040 USD after finding resistance at 1916 USD. Support remains at 1852 USD. We think price will trade in range between support and resistance for a while. There is even possibility that support will be retested, however, we think there is small chance it will be taken out. Technicals are currently mixed. We believe bullish...
On 4th June 2021 we correctly predicted USOIL would reach 70 USD per barrel this week. Stochastics, RSI and MACD remain bullish. ADX shows signs of revival and DMI is also bullish. However, daily timeframe for USOIL nears overbought level. Though we think there is some upside left before correction. Because of that we would like to upgrade our short term price...
Recently RSI and MACD turned back to bullish side. At the same time ADX shows signs of revival. In addition to that oil price keeps rising. We think that XOM will continue its rise above 1st resistance at 62.55 USD. XOM currently provides very interesting setup. Our short term price target for XOM is 62. 50 USD and our medium term price target is 65 USD. Here is...