The price action of the GBPBJPY is currently probing a major support level that has been prevalent over the last few months. It serves as the lower limit of a broad Distribution range, as postulated by the Wyckoff Cycle theory. Hence, if the price action manages to penetrate below it decisively, this would likely mark the beginning of a new downtrend that is likely to develop over the next several months. [...]
Following the release of Bank of Japan's monetary policy statement from earlier today, the demand for the Yen started surging due to the admissions of Governor Kuroda and his colleagues.
Overall, the undertones of BOJ's statement signalled the likelihood of a protracted recovery for the Japanese economy. Additionally, the statement was intended to stress on the unpredictable nature of the coronavirus [...]
The USDJPY has been range-trading since mid-April, and the pair continues to be consolidating within the same narrow area that was established in the wake of the initial coronavirus crash. The underlying market sentiment is suitable for the implementation of swing trading strategies, as the price action continues to bounce between the two limits of the underlying range. [...]
At today’s market open global stocks rallied following yesterday's crushing rout, and the Nikkei climbed by 0.85 per cent so far during today's trading session. The main question is whether this is a temporary pullback [...], or the general selloff has finally reached a dip [...]. The current analysis examines the present economic and financial situations in Japan and projects the most likely future developments for the economy of the rising sun.
The price action of crude oil is long overdue for a bearish correction, though geopolitical tensions are so far preventing it from happening. The escalating tensions near the Donbas border-region of Ukraine are high as Russia keeps on increasing its military presence on its own side of the border. The global energy market has thus been gripped for quite a while by the prospect of a Russian invasion. [...]
Gold's price action has been consolidating in a broad range for over half a year now, which is a confirmation of the very strong range-trading conditions that prevail at present. Under those conditions, bulls and bears may implement the highly effective strategy of picking the underlying range's tops and bottoms. And given that the price action is currently drawing near one of the range's extremes, bears may [...]
The most popular cryptocurrency in the world has been massively undervalued since late 2021 owing to a number of contributing factors. But upon closer examination, the price action appears to be establishing a massive Head and Shoulders pattern which, if realised, would entail the development of an even bigger downtrend in the long run. Nevertheless, this may also entail bulls with an opportunity to go long [...]
Following a prolonged consolidation within the boundaries of a narrow range, the price action of the EURUSD is finally attempting a major breakout. If proved successful, this could entail the beginning of a new massive uptrend.
Both currencies are affected by soaring inflation, with consumer prices in the U.S. topping a four-decade peak and headline inflation in the Eurozone reaching an all-time high. [...]
The rally of the Nasdaq reached a climax in late November, and ever since then, the price action of the index has been on the retreat. Currently, a minor bullish pullback appears to be developing, which would allow bears to utilise trend continuation trading strategies; chiefly, they would be able to sell the next peak in anticipation of continued price depreciation afterwards. [...]
The price of Ethereum plummeted sharply earlier today following a sweeping selloff in the crypto market. Over the last couple of days, Bitcoin , the benchmark cryptocurrency, fell by over 6 per cent.
There are multiple factors contributing to the selloff, with the most significant one being the temporary strengthening of the dollar. The greenback is currently advancing ahead of the release of the December [...]
Earlier today, the price of the commodity rallied on the latest tribulations in the global geopolitical sphere. The escalation of tensions in Kazakhstan unnerved markets, which were already worried by the prospects of a potential Russian invasion of Ukraine. This caused an upsurge in demand for energy, thereby causing oil to rise.
Nevertheless, the price action is currently probing a major resistance level [...]
The price action of Bitcoin, similarly to other prominent assets, has been consolidating around the Holidays owing to diminished trading activity. The cryptocurrency fell from the November peak and is currently threading just below the psychologically significant threshold at $50000.00.
The majority of cryptocurrency enthusiasts expect the crypto flagship to resume appreciating shorty as trading activity [...]
The price action of gold continues to be consolidating within a broad range, which has been developing over the last several weeks. Given these very strong ranging conditions, traders may implement contrarian trading strategies, aiming to pick tops and bottoms within the boundaries of the range.
Market pressures remain subdued in those early days of the new year due to low overall trading activity. [...]
The price action of EURUSD is currently establishing a bullish pullback within a broader downtrend, exhibiting a clearly discernible corrective behaviour. The underlying set-up thus entails the possibility of implementing contrarian trading strategies.
Market liquidity remains quite subdued due to low trading activity, something that is not at all that surprising during the [...]
The price of Ethereum is due for a bearish correction owing to a combination of contributing factors. Chiefly, the low market liquidity that is observed at the end of each year - the consequence of market seasonality - is owing to diminished trading activity. Historically, this tendency entails probable selloffs of higher-risk assets, such as Ethereum. [...]
The Nasdaq price has undergone a patch of massive volatility outbursts recently, owing to rising market unpredictability. This erratic behaviour of the price action means that the current trading opportunity is only suitable for the least risk-averse traders who are primarily using volatility-based trading strategies.
The erratic behaviour of the price action is owing to a bundle of contributing factors [...]
The price of gold is once again consolidating within the boundaries of a massive range, entailing excellent opportunities for the implementation of range-trading strategies. Those involve picking the tops and bottoms within the established range.
The consolidation is due to a mixture of conflicting news and statistics, making it impossible for neither bulls nor bears to retain control for long. On the one [...]
The price of Bitcoin managed to recover some of its substantial losses that were incurred last week, though the prevailing bearish pressure is still far from being exhausted.
The pullback is currently drawing near the next Fibonacci threshold, though once it reaches it, the broader downtrend would likely continue to head lower. That is why the underlying setup can be utilised by bears looking to implement [...]
The price of crude oil plummeted last week after Russia proposed an increase in production at the last OPEC+ meeting, which took place on Thursday. The plunge was further bolstered by the fact that the recent fears concerning the energy crisis in Europe, which kept energy demand high for some time, have now mostly subsided.
And while the risk of global supply and demand disruptions continues to pose a [...]
The recent downtrend on the EURUSD pair appears to have already bottomed out, as the greenback's rally is temporarily put on a halt. Given this waning bearish sentiment, the underlying setup looks suitable for the implementation of contrarian trading strategies at the new dip.
Several crucial factors contribute to the depreciation of the greenback in the short term, the most significant one being the [...]
Investors' fears concerning the new coronavirus variant spur a selloff on higher-risk assets, including Bitcoin and Ethereum. The bearish reversal on ETHUSD is further bolstered by mounting geopolitical tensions and rising inflation concerns. Therefore, the current setup is suitable for the implementation of contrarian trading strategies by bears. [...]
The price of Bitcoin has been consolidating around the psychologically significant threshold of 60000.00 over the last several days, as bearish pressure keeps increasing. Our analysis examines all of the reasons why bears would likely retain control in the near term, and the price would continue to depreciate.
Bitcoin's latest rally was mostly owing to heightened investors' optimism. The demand for the [...]
The price action of the Nasdaq composite index is currently testing the psychologically significant resistance level at 16000.00, which is also the all-time highest resistance level, for a second time over the last several days. Due to the significance of this threshold as a major turning point, there is a very high probability that a second dropdown would emerge from it in the very near future. [...]
The price action of the EURUSD continues establishing a major bearish trend, which looks poised to reach new dips in the medium term. However, a bullish pullback would eventually take place, which means that both bulls and bears might have a chance to take advantage of the underlying setup in the foreseeable future.
Why is there such a massive discrepancy between the bullish bias driving the rally of the [...]