Bitcoin’s price has been closely monitored, especially in relation to its movement within the bounds of two channels: a bullish channel that began forming in 2023 and a bearish channel that started taking shape in March 2024. The bullish channel came into existence on the back of Bitcoin ETF approval rumors, while the bearish channel
Technical Analysis
Recently, gold has been struggling to surpass the $2525 per ounce mark on the spot market. Despite facing resistance at this level, there have been numerous attempts to break through, indicating strong buying pressure. A pattern of diminishing pullbacks and increasing rallies suggests a potential breakout to historical highs in the near future. Examining the
Gold prices have maintained a strong stance, hovering near record highs and showing resilience in the face of market uncertainties. The metal’s value has been propped up by a combination of factors such as high demand as a safe haven asset, significant purchases by central banks, geopolitical tensions, and the anticipation of the Federal Reserve’s
The EUR/USD pair has experienced a pullback from its recent highs, facing strong resistance at the 1.12000 level. After two failed attempts to break above this level, the price has corrected to 1.1100, where it found support. Currently, the pair is trading in a range-bound pattern between 1.1200-1.1090. If the price manages to break and
The NZD/USD pair has recently rallied above key resistance levels of 0.6050 and 0.6120, indicating a strong bullish trend. This surge has propelled the pair into a positive zone, with the potential for further gains in the near future. A major bullish trend line is currently forming with support at 0.6120 on the 4-hour chart.
GBPUSD has recently broken above the previous peak on 7.14.2023 high at 1.3143, showcasing a higher high bullish sequence from the 9.26.2022 low. This definitive move leaves no doubt about the direction of the pair, which is undeniably higher. The rally from the 4.22.2024 low is currently unfolding as a 5-waves impulse Elliott Wave structure.
The recent strengthening of the Japanese yen against the US dollar has been influenced by key remarks made by the Bank of Japan and the US Federal Reserve. Governor Kazuo Ueda’s hawkish comments regarding a potential adjustment of monetary policy in line with economic trends have raised expectations of an interest rate hike. This comes
Gold prices have surged back to $2500/oz after a notable retracement during the US session on Thursday. This rebound can be attributed to a stronger US Dollar, rising US Yields, and potential profit taking ahead of Fed Chair Powell’s speech at the Jackson Hole Symposium. Market participants are eagerly awaiting Powell’s remarks to gauge the
The JP 225 stock index has seen a reversal of more than half of its July-August losses, indicating a potential bullish trend in the short term. Despite a downturn in the stochastic oscillator, the RSI and MACD are showing positive signs, with the RSI gradually moving upwards and the MACD remaining positively charged. The price
The EUR/USD pair has been on a rollercoaster ride, with the Euro surging against the US Dollar after breaking the 1.0950 resistance. Bulls pushed the pair above the 50-hour simple moving average and 1.1050, eventually testing the 1.1130 resistance. However, the pair is now consolidating gains above the 23.6% Fib retracement level. Immediate support lies
Recently, the US inflation rate has been on the decline, leading to speculation that the Federal Reserve might cut interest rates. This has resulted in a bearish sentiment towards the dollar, causing major currency pairs to approach critical levels that could potentially trigger new trends. Looking at the technical analysis of GBP/USD, there is a
Bitcoin (BTCUSD) has been struggling to gain momentum in recent sessions, with sentiment deteriorating after facing multiple rejections at the 50-day SMA. The cryptocurrency experienced a significant selloff in August, following a disappointing July Non-Farm Payrolls (NFP) report. Unlike traditional stocks, Bitcoin has been unable to recover substantial ground, as the 50-day SMA has consistently