After a 9-month waiting period, McDonald’s has finally created new all-time highs. The previous all-time high was back in January this year at $271. Following that, price then went into a range between $217 and $271 and managed to pick up enough momentum this past week to force a breakout from consolidation. Our task now is to confirm whether this is a fake...
The Dow Jones is leading the way for the three US indices by being the first to recently break and close above the daily 200 simple moving average. There was a previous break and close above the 200 simple moving average back in August this year but this proved to be a fake breakout. Only to see price decline by 16%. This recent move up has been more impulsive...
The USDJPY is now up 18% since breaking out from the major resistance at 125.85 from the June 2015 high. In the recent post for the USDJPY, price was up 11%, so it has seen good growth since then. The move is no surprise as price broke out from long-term consolidation, lasting almost 7 years. Following this strong current move, we can expect another period of...
The S&P 500 is at a major point because it is currently being held up by the 200 simple moving average, which, if it fails as support, could see price freefall forming a bear market. Back in March 2020, price breached the 200 simple moving average, but its time below this indicator was short-lived as we saw a quick return back above the 200 smiple moving...
The Forex market has come alive after many years of very little activity. One pair in particular that stands out is the GBPUSD. Following the long-term consolidation, between 1.1409 and 1.4376, which held price at bay from October 2016 until this month, price has taken a sudden dive through support. Price reached historic lows this month, creating a low at...
The Dollar Index is up 5% since breaking above the resistance level at $103 in June 2022 and the buyers are looking strong for September so far. Price was previously in consolidation between January 2017 and June 2022 and when price consolidates for lengthy periods of time such as this, we can expect strong moves in the direction of the breakout like we see at...
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...