Hi Traders! EURUSD is forming a potential double-top pattern, and there is great risk-reward potential for shorting opportunities near the resistance. Here are the details: The market tested the previous month's high of 1.10173, but the bears are holding very strongly around this level, which has currently formed a double-top pattern on the chart. Preferred...
Gold price retreated and closed at the $2,000 mark for the first time since November 24, extending its losses. This decline follows the latest US employment report, indicating an improving labor market. The US Bureau of Labor Statistics reported the creation of 199K jobs, exceeding forecasts, while the Unemployment Rate dropped to 3.7%. Additionally, University of...
Despite the recent retracement, the Pound remains poised for an uptrend continuation. The GBPUSD closed last week's trading session at the 1.25000 handle, holding steady after a stronger-than-expected US Nonfarm Payrolls (NFP) gave the US Dollar (USD) a final boost to end the week. Looking ahead to the coming week, there is a flurry of central bank activity, with...
Overview: NASDAQ:JD (JD.com Inc.) appears to be forming a compelling technical pattern that suggests a potential reversal. The stock has developed a 2-day double bottom pattern, coinciding with a falling wedge setup, all occurring within the confines of a major descending broadening formation. Traders and investors should closely monitor these key technical...
When the dollar is running, most other assets are dropping. This has been my experience in the markets and is why the DXY is on my watchlist and is ALWAYS one of the first charts that I check before jumping into the markets. When the DXY is high, that means that people are demanding dollars, and when it's dropping, those dollars are flowing into other assets....
Gold continues its upward trajectory, achieving its highest monthly close in November and nearing record highs. Federal Reserve Chair Jerome Powell, while acknowledging soft inflation, emphasized that core inflation remains high. As US Treasury bond yields decline, providing a tailwind for Gold, the market anticipates potential Fed rate cuts, with about 135 basis...
The GBPUSD continued its upward momentum, closing the week around 1.27100, a key level for the upcoming week. The Pound's strength is fueled by expectations that the Bank of England will delay rate cuts compared to the Fed and ECB. This sentiment was further supported by a decrease in Treasury yields following Powell's comments about the balanced risks of interest...
Broken charts take time to heal and this one is showing signs of improving. Pullback from 200EMA but at volume shelf. Still could go either way. Distribution here again would be catastrophic. Tight PA here around 10 bodes well for 12.50. watch for flag on the daily for potential gap fill above. No position yet, but on close watch
In today's monitor, we are waiting for buy stop opportunity as marked on the chart, confluences are bullish divergence & sentiments of retail traders are 92% bullish.
The previous week saw the Pound sterling reach 1.2600 zone against the US dollar, reflecting positive reactions to the S&P Global/CIPS data. Even amidst mixed economic signals from the US, including robust Services and Composite PMIs but a contracting Manufacturing PMI, the GBPUSD pair maintained its strength. In the UK, inflation has shown signs of cooling down...
Gold maintains its position around $2,000, buoyed by a weakening US Dollar and mixed US PMI data from Friday. Despite the recovery in US Treasury bond yields, the broadly weaker dollar prevails, driven by dovish bets on the Federal Reserve amid a manufacturing sector downturn. However, the upward momentum of gold faces potential constraints as rising US Treasury...
In this video, we delve into the recent surge in gold prices, driven by a combination of factors. On Friday, the U.S. dollar and Treasury yields experienced a decline following disappointing U.S. jobs data, solidifying expectations that the Federal Reserve will halt its interest rate hikes. The October job growth figures fell short of economists' projections, with...
Gold prices experienced a notable decline, particularly following hawkish remarks from Federal Reserve (Fed) Chairman Jerome Powell. Powell's suggestion that the Fed might not have achieved a sufficiently restrictive monetary policy to control inflation sent shockwaves through the market. This hawkish stance contradicted the earlier belief that the Fed was done...
In Friday's session, the XAUUSD experienced a slight uptick, closing the week at $1,980 after reaching a high of $1,995. However, this price increase was halted by hawkish comments from Federal Reserve officials, following the release of strong US housing data that led to a modest rise in US Treasuries. October's Housing Starts showed a 1.9% increase compared to...
The currency pair is currently consolidating just above the 1.2400 handle, grappling with recent consolidation highs. The Pound Sterling faces challenges in retaining gains made against the US Dollar (USD) last week. Experiencing a mid-week peak with a 2.25% gain against the USD, the GBP has since moderated to a more sustainable 1.65%. Despite a broader market...
Hello Traders, My name is Philip and I am just an average stock and indices trader with over 4 years of trading experience💻 ------------------------------------------------------------------- ➡️In today's video, I will analyse Palantir for you🫡 ------------------------------------------------------------------- ➡️Let me know your opinion about today's...
Can you spot the bounce back? It's just lacking volume. Keep on Radar.
In the intricate dance of patterns, VeChain (VET) has caught our attention with a fascinating tale. The recent shift from a bearish trend, marked by the Three Drives pattern, has now given way to a bullish narrative. Let's unravel the patterns and explore the potential bullish strides, as VET appears to embark on a reversal journey. 📈🔄 The Three Drives: A Bearish...