The USDJPY is now up another 1% since the previous post, taking it to 11% from the breakout which occurred on Apr 11, 2022. We see a clear pattern of higher highs and higher lows, indicating that a bullish trend is in play and as long as this pattern continues, we are likely to see further moves to the upside. There are previous highs above price but we can...
The Dollar Index bounced off the support level from the May 13th high a second time on August 10th at $105. Since the start of the year, price has been making a consistent pattern of higher highs and higher lows, and this most recent pullback appears to be following this same pattern. We need to see now that the buyers continue to push price skywards and...
As expected, the S&P 500 has reacted to the daily 200 simple moving average which is acting as resistance. Basic indicators such as the moving average can tell us before the fact where price may struggle and potentially reverse. This move is not a reversal at the moment, a barrier has been formed, and it will just take the buyers a bit more effort to break above...
The S&P 500 is currently deciding which direction to head next now that it has come back up to a previous support level which is acting as resistance. Price moved back above the $4000 round number on July 27th with strong bullish moves, but price has now slowed down at resistance at $4114. If this level is cleared, the next level of resistance is the 200 simple...
The Dollar Index is a slow creeper and could prove to be a strong mover over the next few months as it is forming a consistent pattern of higher highs and higher lows. We saw a strong move to the upside on July 5th and price continued to move up until July 14th which is where price started to pull back. Price moved down to a cluster of support consisting of the...
Last month, the S&P 500 bounced off a significant support level in the form of last year’s low at $3662, and this support has held strong ever since. This month’s candle is looking healthy and bullish following that strong bounce, and we now want to see this bullish momentum continue. The $4000 round number is a psychological level of resistance and could...
In the last post on the USDJPY, price was up 9% since breaking above resistance at 125.85, which is the high from June 2015. Price has now moved up an extra 1%, bringing the total to 10%. Price is forming a neat linear trend with small clean pullbacks along the way up. The 20 simple moving average on the daily timeframe has been acting as support. The next major...
With the US Dollar now on the move, some forex pairs are forming trends and one of them is the USDJPY, which recently broke out from long-term consolidation. Price started to consolidate in June 2015 and broke above resistance in April 2022. There was a nice move up, and then a pullback, then price continued to move back to the upside. Since breaking out, price...
The US Dollar has moved up 3% so far this month and entering price levels we haven’t seen since 2002 and still climbing. Price was previously in an area of consolidation, which ran from 2017. With a breakout from a long period of consolidation, we can expect a strong move in the direction of the breakout. The 3% move to the upside this month equates to $3 and...
The price of US Oil has not consistently traded above the May 2011 high at $114.79 since the high was formed as price has not remained above this level. Price did move above this resistance in March, May, and June, but the sellers forced price back down again. We have a major support level below price in the form of the $100 round number, which may prevent price...
It is still early in the month, and the week has only just started, but Bitcoin is now trading below a major support level which has now turned resistance. Last month, price bounced off the December 2017 high support level at $19,666. The sellers have taken control so far this month but will price close above this level by the end of the month. Bitcoin has been...
Bitcoin has declined further since the last post, dropping down through the weekly 200 simple moving average which is now resistance. Price also declined below the $20,000 round number but has since moved back above this level and is slowly creeping back towards the moving average. This current move up does resemble a pullback, and if it is then we will...
The S&P 500 has moved further away from last year’s low support level at $3662 which is proving to be a strong level to break. There is now a long wick below June’s candle after price bounced hard off that level, but will it be the start of the resumption of the bull trend. May’s candle closed as an indecision candle with a long wick but price still exceeded the...
Bitcoin has now declined 71% from the high of November 2021, almost reaching $70,000 before moving south. Last year’s low at $27,734 was held as support in May this year, but June’s candle has so far penetrated this level. We could see a push up before the end of the month and a close above this level, but for now price is trading below it. Another major level...
Is this the major support level that stops the S&P 500 from dropping further down? If it is, the bull trend will eventually resume, but if not, we will likely see a bear trend. Price is now at last year’s low at $3662, which is a strong level, but we will have to wait and see if it is strong enough to stop the 23% decline from increasing. Other previous...
The S&P 500 was held at the $4,000 round number zonal area of support. We did witness a little strength to the upside, but the previous support from February 28th 2022, at $4114 turned to resistance and prevented price from climbing higher. Price hit this level of resistance and has since displayed weakness and an impulsive move to the downside unfolded....
Bitcoin was held at a major support level for almost 18 months and appeared to bounce from this level to resume the long-term uptrend. Price dictates the next move and in this case, it decided a bounce would not take place for now. Instead, the major consolidation support at $28,800 was broken and so far this week, another level of support has been broken...
The previous post of the GBPY showed price holding at the support level of 156.60. This was the consolidation resistance turned support from the January 2018 high. Price formed a textbook pattern by breaking out of consolidation and retesting the consolidation zone, then bouncing off support. We are seeing an impulsive move to the upside, and should the move...