The_STA

The_STA

Bitcoin - continuation pattern or a top? Determining whether the pattern is a continuation or a top pattern can be challenging. One signifies a bullish trend while the other indicates a bearish trend, and we find ourselves amidst a 4-week range on the bitcoin chart. So, how do you proceed? To analyse the situation, I typically examine the chart across various...

The_STA

The downward trend for the S&P is picking up speed. We'd like to emphasize the significance of the resistance line we mentioned a few weeks ago. We cautioned about the combination of this resistance line and the divergence of the daily RSI, signalling potential trouble for the market. As anticipated, the market has indeed sold off. Initial support rests at the...

The_STA

I find the chart on HSBC interesting. Last year, we witnessed the market break a significant downtrend that had been in place since 2007. Currently, it appears we are on the verge of completing a symmetrical triangle pattern. Considering the market's support from its 200-week moving average and the weekly cloud, and taking into account the previously broken...

The_STA

Stocks experienced a notable uptick yesterday. On the daily S&P chart, there's a resistance line connecting the year's highest points. This line currently stands at 5260, serving as our near-term target and acting as a significant barrier today. Notably, it has effectively halted upward movements in the past four attempts. N.B. definition of a resistance line A...

The_STA

Analysing the US 10-Year Treasury Yield: Fed Meeting Focus and Key Resistance Levels Market attention is currently fixated on the upcoming two-day Federal Reserve meeting scheduled for Tuesday and Wednesday. The expectation is for the Fed to maintain interest rates at their current level, with investors closely monitoring any updates to economic projections and...

The_STA

The market is eagerly anticipating the release of non-farm payrolls, projected to grow by 198,000, compared to January's increase of 353,000. A lower-than-expected figure could potentially push the EUR/USD pair higher, as the market has been on a steady ascent since mid-February. Currently, it has surpassed the 55 and 200-day moving averages at 1.0873/33, which...

The_STA

US stocks hit a record high on Friday, driven by strong performance in artificial intelligence companies like Nvidia. However, caution is warranted as the Nasdaq shows signs of losing upward momentum, with daily and weekly RSI indicating divergence. This week, markets will be closely watching inflation data, including euro zone consumer confidence, business...

03:19

The_STA

The US 10-year Treasury yield is currently encountering significant resistance at the levels of 4.335 and 4.36, marked by peaks observed in 2022 and August 2023. This resistance zone also aligns with the upper boundary of the Ichimoku cloud on the daily chart. There are indications that the market is exerting considerable pressure at this juncture: price action is...

02:59

The_STA

We've employed a blend of point and figure analysis along with Fibonacci extensions, incorporating a resistance line to pinpoint levels between 5040-5100. With each successive high, we've noted a diminishing strength in the RSI indicator, suggesting a potential stall in the upward movement within the 5040-5100 range. Within this zone, we've identified around four...

01:42

The_STA

Friday's robust U.S. jobs report bolstered the US Dollar, prompting the Euro to plummet to its lowest level in eight weeks. The current focus lies on potential downward movements, with key support levels identified at the 15-month uptrend around 1.0740 and the December 2023 low near 1.0724. The weak sell signal observed on the Directional Movement Index (DMI)...

02:22

The_STA

We're examining the US Treasury Note in anticipation of the Fed meeting. The market seems to have finished a corrective pattern ('a-b-c') and is currently facing resistance from the 55-day and 200-day moving averages. This puts it in a defensive position prior to the meeting. The central bank is widely anticipated to maintain interest rates, but the spotlight will...

02:16

The_STA

USD/PLN is pretty interesting from a technical point of view, it has held over its 10-year uptrend at 3.85, held over support on a weekly closing basis from January 2022 on the weekly chart AND completed an inverse head and shoulders pattern on the daily chart, with an approx. upside measured target to 4.14. Each of these indicators individually would suggest a...

01:38

The_STA

I got his one completely wrong recently - but the advantage of using technical analysis lies in having a perspective and a predetermined stop. This approach effectively nullifies our prior pessimistic outlook, which was based on divergence and failure at old highs. At present, we can reasonably assume that the market is still in a bullish trend. The surge in...

01:44

The_STA

A plethora of economic data from China has unveiled a tepid recovery, leaving investors unimpressed. This disappointment follows prior unease caused by central bankers adopting a hawkish tone, challenging the prevailing narrative of early rate cuts. Concerns surrounding attacks in the Red Sea have revived worries about potential disruptions to the supply chain and...

01:54

The_STA

Technically we have failed at the 200-week ma at 1.1150 recently and have now broken below a short term uptrend from October 2023, all of which suggest attention is likely to be on support levels, and we would allow for some further weakness. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice...

01:21

The_STA

Let's delve into a significant pattern observed this week on the Dax weekly chart – the key week reversal. As the name implies, this pattern signifies a reversal in the market trend. It typically emerges following a robust preceding trend, as we've witnessed in this case, characterized by a strong upward movement. A key week reversal occurs when the market charts...

02:04

The_STA

Unveiling the High-Stakes Dance of US Inflation and the 10-Year Yield: Critical Levels and Market Anticipation" A slew of US inflation data is scheduled for release on Friday, prompting our attention towards the US 10-year yield. Initially holding ground at 3.79, it has recently broken its short-term downtrend and is undergoing an upward correction. The market has...

02:55

The_STA

Bitcoin has surged beyond a symmetrical triangle, hinting at a potential target around 48500. This aligns well with the March 2022 high of 48475, marking an initial upward goal. Moreover, there's room for further growth if we consider the prior rally as a flagpole and the recent consolidation as a midpoint, indicating potential for Bitcoin to advance even...