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...
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...
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...
The Federal Reserve on Wednesday indicated that its interest-rate hiking cycle has ended and that lower borrowing costs are coming in 2024. This was more dovish than the market anticipated and the US 10Y yield has sold off further. The short-term downtrend lies at 4.22% and while below here we will assume that the US 10Y yield remains under pressure. We would also...
The dollar index rose on Friday after unexpectedly firm U.S. jobs data and Michigan sentiment sent Treasury yields flying as traders pruned bets on rapid Fed rate cuts next year, with focus now turning to next week's inflation reports and Fed's final 2023 meeting. Tuesday we have the UK unemployment rate. Together with US Core inflation AND CPI. The BOE Interest...
Much has been said over the weekend regarding gold's move higher and we have taken a look at this this morning. First point to make is that we have 2 major levels of resistance - the first is the old high at 2070 and the second is the top of a major up channel that extends back to 2011, this is located at 2106 and only a close above here would indicate potential...
We recently talked about EUR/USD's target of 1.0950, this has now been met - so what now? A lot of data out this week - so we need a view and a stop! My analysis indicates that we remain in an up move, indicators are positive. We are above the cloud on the hourly, daily and weekly charts - you have to assume upside scope remains intact while above its uptrend...
We have a busy week this week as we have lots of data on big economies that should provide insights on inflation and activity – namely the US consumer confidence, PCE price index, PMIs, European CPI, German consumer confidence and Chinese PMI. The US 10Y yield has been correcting lower over the past few weeks but we suspect it has based just ahead of the key...
There is a base on the daily chart between 1.2337 and 1.2037, which gives us an upside target to 1.2637. Market is looking pretty directional and there is a risk of an overshoot, the August high, 55-month ma and 200-week ma all lie between 1.2819-1.2850 and we would allow for some profit taking in this vicinity if seen. Disclaimer: The information posted on...
The US 10Y yield is approaching decent support around 4.36/35 (August high, support line and Fibo) and the daily RSI is low (it does not normally maintain a move below 30) and this suggests that the market should hold this vicinity and attempt to recover. It is helpful to use the daily RSI in conjunction with a target zone to add weight to an idea that the market...
The messy basing process continues on the EUR/USD chart and while above 1.0635, the June low, the market is going to remain well placed for further gains towards initially the 1.0801 200-day ma and beyond. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not...
The market completed a symmetrical triangle pattern, we believe. on Friday. That gives us an approximate upside measurement to around the 1.0950/85 area, which also coincides with the 61.8% retracement of the move down from July. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form,...
The S&P has seen a strong rally following the Fed....is this over-done? are non-farm payrolls going to add fuel to this rally? We look at the critical levels to watch. It is possible that we are only seeing a 'return to point of break down' from the top. HOWEVER the recent rally has gapped higher and feels a bit too directional for my liking....pay attention to...
The Fed left its policy rate unchanged at 5.25%-5.5% and the US 10Y yield sold off on the back of a less hawkish Fed. The daily chart reveals a small top completed between 4.80-5.02 and this implies a short-term target of 4.58. We are viewing this as a correction lower, rather than the end of the longer-term broader upward trend at this stage. Disclaimer: The...
Following on from our recent videos where we talked about our negative bias to the market, this view has been reinforced by the weekly close below the key support at 4195. The market has a top on it which gives a target of approx. 4000, but that for me would be a minimum as I suspect that it will head back towards the 55-month ma at 3787. Disclaimer: The...
It appears to resemble a base, but it might also be interpreted as a rising wedge. One represents a potential reversal pattern, while the other suggests a continuation pattern. These interpretations can lead to conflicting perspectives. So, how do you make a decision? I personally prefer to blend moving averages and the Directional Movement Index (DMI) to...
I go through my analysis process on the SPX using the DMI (directional movement index) and the 9-period RSI together with the 55 and 200-day moving averages. I give a read on what I am currently watching and what levels. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form,...
The market has recently bounced off its 200-week moving average and the outlook remains bullish longer term. We highlight the upside potential and take a closer look at the 12-year up channel. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to...