Gold price started a fresh decline below the $1,785 support zone. Crude oil price struggling near $78 and might correct gains in the near term.
Important Takeaways for Gold and Oil
· Gold price faced resistance near $1,825 and corrected lower against the US Dollar.
· There was a break below a key bullish trend line with support near $1,798 on the hourly chart...
ETHUSD: Three White Soldiers Pattern Above $1222
Ethereum was unable to sustain its bearish momentum and after touching a low of 1222 on 08th Dec, the price started to correct upwards against the US dollar moving into a consolidation channel above the $1250 handle today in the European trading session.
We can see the formation of a bullish doji star pattern in...
It is quite fascinating how perceived good news tends to have a positive effect on the value of a sovereign currency.
The British Pound, which spent most of the tail end of this summer plummeting into the depths of obscurity against the surprisingly strong US dollar, at one point reaching as low as 1.18 which was its lowest point in over 40 years, has been rising...
EUR/USD gained pace above the 1.0600 resistance zone. USD/CHF is declining and remains at a risk of more losses below the 0.9240 support.
Important Takeaways for EUR/USD and USD/CHF
· The Euro started a fresh increase above the 1.0550 resistance against the US Dollar.
· There was a break above a major contracting triangle with resistance near 1.0565 on the...
The weather across parts of Northern Europe and the United Kingdom this week has suddenly turned, and even areas which are ordinarily not associated with snowfall have been covered in a white blanket for a few days.
Travel disruptions at airports have taken place, and a minus figure has been displayed on temperature gauges since Monday.
Finally the real winter...
Gold prices over the past few weeks have been rising sharply.
In early November, the price of gold was at its lowest point in over 6 months, languishing at $1,628 per ounce, however the sudden rise in value has culminated in gold prices being at their highest since the summer, arriving at over $1,796 per ounce on today's market.
As it stands, the price of gold...
GBP/USD started a downside correction below 1.2250. USD/CAD is rising and might gain pace above the 1.3700 resistance zone.
Important Takeaways for GBP/USD and USD/CAD
· The British Pound was able to move above the 1.2200 and 1.2250 resistance levels.
· There is a key bullish trend line forming with support near 1.2220 on the hourly chart of GBP/USD.
·...
AUD/USD is moving higher and might climb further higher above 0.6800. NZD/USD is also rising and might surge above the 0.6440 resistance zone.
Important Takeaways for AUD/USD and NZD/USD
· The Aussie Dollar started a fresh increase above the 0.6720 and 0.6740 levels against the US Dollar.
· There is a key bullish trend line forming with support near 0.6780 on...
ETHUSD: Double Bottom Pattern Above $1218
Ethereum was unable to sustain its bearish momentum and after touching a low of 1211 on 07th Dec, the price started to correct upwards against the US dollar moving into a consolidation channel above the $1200 handle today in the European trading session.
We can see the formation of a bullish harami pattern in the...
The S&P500 index closed yesterday at its lowest point in four days following a steady decline as investors in American stocks concern themselves with the possibilities of a recession.
The prestigious index which contains some of Wall Street's most heralded blue chip giants lost 1.44% to close at 3,941.26, while the Nasdaq Composite sank 2% to finish at 11,014.89....
EUR/USD gained pace and tested the 1.0600 resistance zone. USD/JPY is rising and might rally if it clears the 137.50 resistance zone.
Important Takeaways for EUR/USD and USD/JPY
· The Euro started a downside correction from the 1.0600 resistance zone.
· There is a key bearish trend line forming with resistance near 1.0490 on the hourly chart of EUR/USD.
·...
BTCUSD: Inverted Hammer Pattern Above $16009
Bitcoin was unable to sustain its bearish momentum and after touching a low of 16009 on 28th Nov, the prices started to correct upwards against the US dollar crossing the $17000 handle on 06th Dec.
We have seen a continued escalation in the prices of bitcoin due to the increasing global demands and buying at lower...
After a long period of declining values which blighted the British Pound during the course of the late summer and early autumn period, resulting in it plummeting to a low of 1.18 against the US Dollar at one point, the British sovereign currency managed to pick itself up during November.
The economic chaos that has been clearly visible across Britain reached...
The price of Brent Crude oil is once again on the rise, after a slow and steady decline during early to mid November bottomed out at $76.28 per barrel on November 26.
Since then, the price has been increasing, and today Brent Crude Oil (WTI) is trading at $81.41 per barrel which is a two week high.
This could partly be down to the price cap for oil purchases...
GBP/USD started a fresh increase above the 1.2150 resistance. EUR/GBP failed to stay above the 0.8600 support and declined towards 0.8550.
Important Takeaways for GBP/USD and EUR/GBP
· The British Pound started a fresh increase after it broke the 1.2050 resistance against the US Dollar.
· There was a break above a major bearish trend line with resistance near...
Gold price climbed higher and traded above the $1,780 resistance. Crude oil price is also rising and might climb further higher above $82.50.
Important Takeaways for Gold and Oil
· Gold price found support near the $1,720 level and started a fresh increase against the US Dollar.
· There is a key bullish trend line forming with support near $1,792 on the...
ETHUSD: Piercing Pattern Above $1151
Ethereum was unable to sustain its bearish momentum and after touching a low of 1151 on 23rd Nov, the price started to correct upwards against the US dollar crossing the $1300 handle today in the Asian trading session.
After touching $1300 handle we can see some downward correction in the levels of Ethereum which is expected...
EUR/USD is gaining pace above the 1.0000 resistance. EUR/JPY is also rising and might climb further higher above the 147.00 zone.
Important Takeaways for EUR/USD and EUR/JPY
· The Euro started a downside correction from the 1.0500 resistance zone.
· There is a key declining channel forming with support near 1.0310 on the hourly chart.
· EUR/JPY started a...
