Trendsharks

Trendsharks

From last week's swing low, down to 19 000, Germany 40 is enjoying a lot of buying activity. On the 4hr chart a Golden Cross is about to get completed with the 20 period MA breaking above the 60 period MA. If the price holds above 19 278 (38% Fib) the upward momentum could extend higher.

Trendsharks

The Death Cross pattern of the 20 period MA breaking below the 60 period MA is a powerful bearish indicator. The price is currently pulling back, but meets resistance around the 0.6590 level (23% Fib). The next resistance is at 0.6607 (38% Fib) and should these levels hold, the down trend might extend further south.

Trendsharks

The 30-mins chart shows us a bullish Golden Cross of the 20 period MA crossing over the 60 period MA. The 14 period RSI is overbought, which means its not impossible to see a pullback first, testing the zone at 153.13 (38% Fib) or 152.95 (50% Fib).

Trendsharks

Oil is showing a strong bearish momentum on the 30-mins chart, with a Death Cross MA crossover of the 20 period MA dropping below the 60 period MA. Should the price pull back, possible resistance levels could be $71.00 (38% Fib) and $71.34 (50% Fib). If these levels hold, further drop below $70 seems plausible.

Trendsharks

On the 30-minute chart, GBP/USD is displaying encouraging signs of bullish momentum. The 20-period EMA has crossed above the 60-period EMA, indicating strong upward momentum and suggesting continued buying interest. The Fibonacci retracement from the recent low of 1.2844 to the high of 1.3000 highlights key support levels: 23.6% retracement at 1.2964: Price is...

Trendsharks

On the 30-min chart, Gold shows a bullish 20/60 MA crossover, with a pullback from the $2,710 high. Key Fibonacci supports: 23.6% at $2,698, 38.2% at $2,686 (aligns with 20-MA), and 50% at $2,680 (near 60-MA). RSI at 40 suggests neutral momentum; below that may signal deeper correction.

Trendsharks

The price action of the USDJPY is currently attempting a breakout above the 23.6% Fibonacci retracement level at 115.665. Bullish pressure was bolstered earlier today following Fed Chair Jerome Powell's hint at a very likely rate hike by the end of the month . If the breakout is successful, the price action will re-test the previous swing peak at 116.300. If...

Trendsharks

The GBPUSD is headed towards the previous swing low at 1.31900. The dollar is gaining additional bullish momentum following Joe Biden's State of the Union speech yesterday. This is confirmed by the fact that the price action, following a temporary consolidation, was able to break down below the 61.8% Fibonacci retracement level at 1.33874 decisively. Before...

Trendsharks

The price of gold is consolidating in a range between the 23.6% Fibonacci retracement level at 1922.32 and 38.2% Fibonacci at 1890.01, as peace talks are threatened by Russia's intensified aggression . Depending on how the peace talks develop next, a breakout above the 23.6 per cent Fibonacci may be attempted, though this is then likely to be followed by a...

Trendsharks

EURUSD's price action rebounded promptly from the previous swing low at 1.11250, as per the expectations of the Wyckoff method. It is now set to probe the 61.8 per cent Fibonacci retracement level at 1.12642, as adverse volatility from the war in Ukraine mounts . The behaviour of the price action around this crucial threshold will determine the next most likely...

Trendsharks

The price action of the EURGBP is currently attempting a breakout above the upper limit of the descending channel on the reinvigorated bullish bias. The euro was bolstered today following the release of the better-than-expected German ifo business climate numbers for February. The preceding downtrend, taking the form of a 1-5 Elliott impulse wave pattern, was...

Trendsharks

Demand for the pound rose today following the publication of better-than-expected services PMI data in the UK for February. This prompted a breakout above the upper limit of the consolidation range. The range spans between the 61.8 per cent Fibonacci retracement level at 1.35999 and 38.2 per cent Fibonacci at 1.35077. The next target for the reinvigorated...

Trendsharks

The price action of the EURJPY is currently developing a Falling Wedge pattern, and it is expected to consolidate just above the 61.8 per cent Fibonacci retracement level at 130.129. The latest dropdown from the 200-day MA (in orange), underpinning the major resistance level at 130.800, was catalysed by the latest industrial numbers in Germany . Descending...

Trendsharks

The price action of the EURUSD is currently behaving as per the expectations of the Wyckoff method, and this week's economic releases are likely to bolster this trend. There was a temporary break in the new Markdown, which was represented by the formation of the Flag pattern. However, the breakdown below the 38.2 per cent Fibonacci at 1.13524 indicated the...

Trendsharks

The price action of the USDJPY established a minor dropdown following the release of the January retail sales data in the U.S. yesterday. The correction itself appears to be serving as the second retracement leg (3-4) of a broader Elliott pattern. Given that it has just reached the lower limit of the channel and the major support level at 115.00 (underpinned...

Trendsharks

The newly emerging downtrend on the EURGBP was temporarily stopped today following the release of the latest inflation data in the UK. However, overall bearish bias continues to prevail. The pullback may test the 38.2 per cent Fibonacci retracement level at 0.84060, but given that it is currently converging with the 50-day MA (in green) and 300-day MA (in...

Trendsharks

The price action of the EURCAD is developing a Falling Wedge pattern following the publication of the latest economic sentiment numbers in the Eurozone. This is a type of pattern that signifies the likely continuation of the underlying trend. Notice that the bottleneck of the Wedge is developing between the 100-day MA (in blue) and 38.2 per cent Fibonacci...

Trendsharks

The price action of the GBPJPY could be developing a Head and Shoulders pattern following the release of the latest unemployment data in the UK . A decisive breakdown below the neckline of the pattern at 155.370, which is underpinned by the 200-day MA (in orange), would confirm this. The major target for such a new downtrend would be the previous swing low at 153.200