The price action of gold is currently drawing near the lower limit of the massive consolidation range that was outlined in our previous analysis of the commodity. Given the underlying range-trading environment, bulls can try to take advantage of this by going long on the expectations for another rebound.
Bearish pressure was bolstered over the last few days as headline inflation in the U.S. and Europe is [...]
Bearish bias keeps rising on the price action of the GBPUSD pair, which alludes to the likely emergence of a new major downtrend. The underlying fundamentals seem to be corroborating this assertion as well.
The August Consumer Price Index (CPI) numbers in the UK exceeded the preliminary forecasts whereas the recorded inflation over the same period in the U.S. fell short of the initial expectations. [...]
The price of the Nasdaq composite recently started developing a new bearish correction, as was forecasted by our previous analysis of the index. Even still, the broader rally still looks quite solid, which means that bulls can look for an opportunity to enter long at the bottom of the correction by implementing trend continuation strategies. [...]
Over the last couple of weeks, the GBPJPY pair has been establishing a major bullish pullback, primarily driven by heightened investors' optimism in Britain. The latter was triggered by the easing of government restrictions in the UK despite persisting delta variant complications. Presently, the impact of this optimism seems to be waning. [...]
At its recent meeting, OPEC tried to sound optimistic about the near future of the energy market. However, the minutes from the 20th Ministerial Meeting of OPEC left many uncertainties. OPEC expects to see persistently high demand by the end of the year, which does not reflect the latest economic developments globally.
Labour market conditions in the U.S. have worsened last month and the spread of the [...]
FED Chair Jerome Powell's speech at the Jackson Hole Symposium last week jolted the U.S. dollar as he cautioned against premature policy intervention. This exacerbated the greenback's woes in the short term and prompted a sizable upswing on the price action of the EURUSD.
Even still, there is light at the end of the tunnel for EURUSD bears. The Bureau of Labour Statistics (BLS) in the U.S. is scheduled to [...]
The price action of gold managed to penetrate above the psychologically significant resistance level at 1800.00 towards the end of last week's trading session. It remains to be seen whether the price action would manage to remain above this crucial threshold or a potential reversal would signal the beginning of a new downtrend.
The reason for the bullish spike above this make-it-or-break-it point were FED [...]
The recent pullback of the GBPUSD appears to have reached a fresh peak ahead of the highly anticipated speech of FED Chair Jerome Powell at the Jackson Hole Symposium, which is scheduled for tomorrow. He is expected to talk about the possibility of FED tapering by early 2021, which is likely to bolster the dollar.
Meanwhile, the pound continues to be pressured as the pace of recovery of the British [...]
The price action of GBPJPY is currently in the process of establishing a bullish pullback within a broader downtrend. Similarly to other assets, this corrective movement is resulting from the temporary depreciation of the greenback in the short term. This means that bears would have a chance to utilise trend continuation trading strategies once the pullback peaks and the price action is ready to resume [...]
The price of crude oil rebounded abruptly from the historically significant support level at 61.90 yesterday, which indicated the beginning of a new pullback. However, as it is about to be seen below, the price action also demonstrates signs of mounting bearish commitment in the short term, which bears could use to their advantage.
The snap rebound was prompted by the weakening of the U.S. dollar from the [...]
Bullish bias on the EURUSD increased marginally last week following the publication of the latest inflation numbers in the U.S. The dollar weakened temporarily because headline inflation remained flat at 5.4 per cent from a month prior. However, the prevailing market sentiment remains ostensibly bearish-oriented.
The greenback is likely to strengthen this week on the U.S. retail sales data, which is [...]
The price of gold has managed to recover most of the massive losses that were incurred at the beginning of the week, prompted by the expectations for FED tapering sooner than initially projected. Yet, this pullback is still a far cry from a healthy rally and more of a seesaw backswing.
The selling opportunity on the commodity is still very much present, especially given the renewed strengthening of the [...]
The price action of Bitcoin has been trading directionally for the past few weeks without experiencing a lot of adverse fluctuations. Such a type of concise and non-random price action is demonstrative of strong underlying commitment in the market.
This is what is currently creating textbook trading opportunities for bulls and bears alike, as the price action establishes subsequent peaks and bottoms within [...]
GBPUSD is still in the process of developing a major bearish reversal on the daily chart, despite that bullish pressure has increased recently. This disparity in the behaviour of the price action on charts with different timescales creates an opportunity for bears to utilise trend continuation trading strategies.
In particular, they can look for an opportunity to sell at the next peak of the presently [...]
The price of the Nasdaq composite continues to be climbing slowly towards the psychologically significant resistance level at 15000.00, as was forecasted by our previous analysis of the index. In addition to the fact that this resistance has such psychological importance due to the many zeroes in the number, the price has never reached this threshold before. This makes it an even more prominent turning point. [...]
Bearish pressure continues to weigh down heavily on the energy market. Still, the behaviour of crude oil's price action in the short term is demonstrating early signs of a probable bullish pullback currently in the making.
The monetary policy minutes from BOE's August meeting underscored the expectations of the Policy Committee (MPC) for stable recovery over the next several months, despite the fallout [...]
A bullish reversal on the EURUSD appears to be completed now because of the recent woes for the greenback. With the changing market sentiment on the pair, bulls can now look for a chance to utilise trend continuation strategies on the newly emerging uptrend.
Two leading factors are causing the dollar to tumble in the short term. Amazon's disappointing earnings numbers for the second quarter have prompted [...]
The price of the commodity appears to be consolidating near the bottom portion of a recent correction before the broader uptrend can be continued. Even though this represents a preliminary stage in the establishment of an eventual uptrend, bulls should not rush to join the market at all costs.
Presently, all eyes are focused on the earnings season in the U.S. The robust performance by Big Tech, especially [...]
The price of the cryptocurrency temporarily fell below the psychologically significant 30000.0 mark this week before returning back above this major threshold. Part of the reason why the crypto advanced had to do with Elon Musk's recent comments concerning Tesla and SpaceX, saying that both companies use Bitcoin.
Musk also stated that Tesla would likely increase its holdings of Bitcoin, provided that the [...]
The GBPUSD is currently finding itself in a very strong downtrend whose development we have followed over the last couple of months. Part of the reason for the strengthening of the U.S. dollar has to do with the fact that the market has already priced in FED's inflationary policy.
The greenback is also likely to be bolstered this week with the beginning of the new earnings season in the U.S. That is so [...]