Gold has been in an uptrend so far in the 2nd week of January. However, the price has been unable to re-test the $1815 level yet. In conjunction with this, the RSI levels on the larger time frames show extremely overbought levels. Today at 3 pm GMT chairman Powell of the Fed will speak regarding plans for rate hikes this year. Our in-house view is that many USD...
Cable has been in an uptrend since the 20th of December, comfortably surpassing the key level of 1.340. The price has formed an ascending channel, respecting the upper and lower bounds consistently. Our in-house view currently is short, the initial target for this trade is located at the bottom of the ascending channel - ( 1.353 ). The RSI levels on the 4hr time...
Brent Crude Oil has reached the Key physiological level of 80.00. On Friday the price surpassed the 82.50 area however since then the price has been unable to break past the previous high. On the Daily and 1hr time frame, the RSI levels are in oversold areas which indicates a sell on a short-term bias sentiment. The initial target for this trade is located at...
Bitcoin has seen another big correction in the first week of January. BTC is now 40% down since the all-time highs of November. There has been some support formed at the low 42-41k level. I'm bearish on Bitcoin however whenever there has been a big sell-off, a small bounce from the support area nearly always happens. The target of this long idea is for BTC to...
AUDNZD has been in an uptrend since hitting the support area of 1.306. Since then AUDNZD has been setting higher lows but it just reached the key level of 1.0695. This level has witnessed some sell-off prior to this uptrend and it appears the same is happening now. The price has been unable to surpass this recent high which is my short-term bias is Short. The...
GBPNZD has been in a solid uptrend since the end of December, recently claiming the Key phyclogical level of 2.00. However as the price reached this level there has been a sell-off dropping the price to 2.0057. Because of this and the Overbought RSI levels on the 4hr chart, its likely for GBPNZD to drop below the 2.00 level. The initial target of this trade is...
Since Gold was able to restest the 1834 level the shiny yellow metal has failed to surpass this area. There was a second rally to this level however the price was only able to reach the 1830 area before correcting. This near 2% correction could lead to lower levels, however due to the volitlyy that Gold has shown in the past, a retest of the $1810 area seems...
After the release from the Federal Reserve last night US stocks and indcies fell after the news that the Fed plan to intrudcude rate hikes sooner than expected. This has caused the SPX to fall by 2.57% towards the low 4700 levels. This level has acted as support beforehand, this coupled with oversold RSI levels on the 4hr the time frame and the S&P500'S tenacity...
Since EURJPY fell to the support level of 127.7 in the middle of December, the pair has been in a modest uptrend. There has been a 3% rise in price and EURJPY is currently trading at the 130.850 area. Since setting a new monthly high of 131.55, there has been a small drop off in price, however there has been some buying pressure at around this current level...
USDJPY has just set a new multi-year high of 116.3 but has seen a small sell-off as a result of this. The rally that has led to USDJPY's current price started off in early December, so far the price is up 3% from that point. The last time that USDJPY set a high above 115 there was a decent sell-off, coupled with the extremely overbought RSI levels on the daily...
On the 1hr time frame, NZDUSD has failed to surpass its recent high at 0.68564 and as a result of this, there has been a drop in price down to the 0.6777 regions. There was a little bit of buying pressure at this zone however not enough to retest the level mentioned above. The RSI levels on the 1hr time frame show levels to be overbought which indicates that a...
Gold finished the year around $1835 area after a decent rally from the $1770 area. After retesting this high there has been a sell-off of 1.81% down to the low $1800 region. As there has been some support formed above $1800 which is a key level, a continuation of this uptrend is likely. The 4hr RSI levels are also in oversold levels too, 17.28, meaning that the...
Earlier in the week, BTC fell down towards the support area of 45-46k. BTC has been trading underneath resistance since early December but recently the price managed to break out of it. However, this breakout didn't occur with a lot of volume, this suggests to me that the price will fall towards the support area. The RSI levels are overbought on the 4hr chart too...
AUDCAD has been in a decent uptrend for most of December, however, it has started to approach a key resistance level on the 4hr time frame. The key level mentioned is the 0.925 level which is the high of early November. The RSI indicators on the daily/4hr time frame show an overbought bias, coupled with the approach to the key level mentioned above leads me to...
Since breaking the 1.936 level, there have been two failed attempts to break the key resistance level of 1.97 (October 11th high). The 1.936 level is now acting as a support zone which price respected earlier on in December. As there hasn't been a convincing break of this level it's very likely that the price will fall and re-test the support level mentioned of...
GBPNZD has just seen a small sell-off towards the levels of 1.9495 however it appears that there has been some support formed here. If the BoE decides to raise interest rates then it's likely for GBPNZD to push forward and test the previous high of 1.97. As the Fed plans more rate hikes in 2022 it's possible for the UK to follow suit, which is why I'm bullish on...
Following on from Tuesday's successful GBP CHF analysis, I believe that GBPCHF will re-test the 1.24 levels ahead of the UK's interest rate decision at 1:30 today. Across the pond, the Fed's policy decision regarding a faster taper surged the dollar and indices across the board. It's very likely for the BoE to follow in the Feds path in rising interest rates, if...
The S&P500 has recently seen a small sell-off towards the 4600 area. As we are at year-end many are making predictions as to where the SPX will be in 2022. Almost everyone predicts a level above 5000 which is very bullish. From a technical perspective, the RSI indicators on the 4hr chart are in oversold conditions (24) and the price has seen a small bounce from...