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AUDCHF Wave Analysis – 26 August, 2022
AUDCHF Wave Analysis – 26 August, 2022
• AUDCHF reversed from key resistance level 0.6710
• Likely to fall to support level 0.6650
AUDCHF currency pair recently reversed down from the key resistance level 0.6710 (which has been steadily reversing the price from the start of July), intersecting with the upper Bollinger Band and the 38.2% Fibonacci correction of the earlier sharp C-wave from June.
The downward reversal from the…
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Bitcoin weakness: a warning for stocks or its own problem?
Bitcoin weakness: a warning for stocks or its own problem?
Market picture
Things are slow now in crypto, with a slight downward bias for the second day. Bitcoin is losing 1.5% to $21.4K in the last 24 hours. Ethereum is unchanged for the same time, remaining at $1680. Top altcoins show mixed dynamics, ranging from a 4.1% decline (Solana) to a 2.6% increase (Cardano).
Total cryptocurrency market capitalisation, according to CoinMarketCap, was down…
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Palladium Wave Analysis – 25 August, 2022
Palladium Wave Analysis – 25 August, 2022
• Palladium reversed from round support level 2000.00
• Likely to rise to resistance level 2300.00
Palladium recently reversed up from the round support level 2000.00 (which stopped the previous minor correction (iv) from the start of August).
The support area near the support level 2000.00 was strengthened by the lower daily Bollinger Band, support trendline of the daily up channel from June and…
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Step into the new season at a profit
Step into the new season at a profit
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Don’t miss out on this great…
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AUDNZD Wave Analysis – 24 August, 2022
AUDNZD Wave Analysis – 24 August, 2022
• AUDNZD reversed from resistance level 1.1165
• Likely to fall to support level 1.1100
AUDNZD currency pair is currently testing the resistance level 1.1165 (which has been steadily reversing the price from the start of June), strengthened by the upper daily Bollinger Band.
The downward reversal from the resistance level 1.1165 will stop the previous short-term upward correction 2.
Given the…
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Will Jackson Hole strengthen the Dollar?
Will Jackson Hole strengthen the Dollar?
As is often the case, markets find themselves at important turning points ahead of significant scheduled events. One of the latter is the Monetary Policy Symposium in Jackson Hole, which starts later this week. This resort’s signs could break the Dollar’s rise or accelerate it by removing the final obstacle.
In FX, the Dollar index made a 20-year high above 109.2 earlier in the week and then we…
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Crypto market’s fragile stability
Crypto market’s fragile stability
Market picture
Bitcoin has added 2% in the past 24 hours to $21,400. Ethereum added 4.6% to $1640, while top altcoins added between 0.9% (Dogecoin) and 4.4% (Polkadot).
Total cryptocurrency market capitalization, according to CoinMarketCap, rose 2.2% to $1.03 trillion overnight. The Cryptocurrency Fear and Greed Index fell 3 points to 25 by Wednesday and went from “fear” to “extreme…
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CHFJPY Wave Analysis – 23 August, 2022
CHFJPY Wave Analysis – 23 August, 2022
• CHFJPY reversed from resistance level 143.10
• Likely to fall to support level 140.60
CHFJPY currency pair recently reversed down from the key resistance level 143.10 (which has been reversing the pair from the end of June) intersecting with the upper daily Bollinger Band.
The downward reversal from the resistance level 143.10 stopped the previous intermediate impulse wave (3).
CHFJPY currency…
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EUR50 Wave Analysis – 22 August, 2022
EUR50 Wave Analysis – 22 August, 2022
• EUR50 falling inside active correction 4
• Likely to fall to support level 3575.00
EUR50 index recently reversed down from the powerful resistance level 3800.00 (which has been reversing the price from the end of April).
The resistance zone near the resistance level 3800.00 was strengthened by the upper daily Bollinger Band and the 50% Fibonacci correction of the downed impulse from…
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Citibank Wave Analysis – 19 August, 2022
Citibank Wave Analysis – 19 August, 2022
• Citibank reversed from resistance level 54.00
• Likely to fall to support level 50.65
Citibank recently reversed down from the pivotal resistance level 54.00 (former monthly low from March – which has been reversing Citibank from the time it was broken in April), strengthened by the upper daily Bollinger Band.
The downward reversal from the resistance level 54.00 started the active medium-term…
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Bitcoin failed to hold, testing key levels again
Bitcoin failed to hold, testing key levels again
Market picture
Bitcoin was almost flat on Thursday but started Friday with a 6% plunge, momentarily dropping to $21.5K. Ethereum is losing 4.5% overnight to $1760. Leading altcoins are down 7% (XRP) to 12% (Solana).
Total crypto market capitalisation is down 4.2% to $1.07 trillion, according to CoinMarketCap.
Bitcoin’s fall below $22.5K is a formal break of the upward corridor of the past two…
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US housing market continues to fall
US housing market continues to fall
US secondary home market continues to shrink. Over July, they have fallen by a further 5.9%. The uninterrupted fall has been going on for the last six months, during which annualised home sales have fallen from 6.49 million to 4.81 million.
The inventory of unsold homes is back to a historical norm of around 4, at 3.3 months of current sales. The optimistic outlook suggests that we are now…
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Fed minutes did not cheer stocks and ironed USD return to growth
Fed minutes did not cheer stocks and ironed USD return to growth
The US dollar slowly added for the third trading session, returning to levels of three weeks ago. While the published FOMC meeting minutes did not cause a sharp reaction, the FX dynamics of the past week are more indicative of the end of a corrective pullback. And we would not be surprised if the Dollar’s growth will shift to the next gear in the coming days.
The market’s primary focus has been…
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The crypto market tests the strength of buyers
The crypto market tests the strength of buyers
Market picture
Bitcoin has lost 4% in the past 24 hours, falling to $23.3K. Ethereum lost 5.3% to $1840. Top altcoins are down 3% (XRP) to 8% (Solana).
Total crypto market capitalisation, according to CoinMarketCap, sank 3.4% to $1.12 trillion. The Crypto Fear and Greed Index fell 11 points to 30 by Thursday, tumbling deeper into “fear” territory.
Once again, Bitcoin seems to have acted as a…
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EURAUD Wave Analysis – 17 August, 2022
EURAUD Wave Analysis – 17 August, 2022
• EURAUD reversed from support level 1.44
• Likely to rise to resistance level 1.4740
EURAUD currency pair recently reversed up sharply from the powerful support level 1.4400 (which previous stopped the sharp downtrend in April, as can be seen below).
The upward reversal from the support level 1.4400 started the active minor correction 2.
Given the strength of the nearby support level 1.4400,…
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An important test for the S&P500 today
An important test for the S&P500 today
The S&P500 index has gained 4.2% in the previous five trading sessions, ending Tuesday’s trading above the 4300 mark. However, two ingredients are missing for the bulls to win. Firstly, consolidation above the 200 SMA is an essential technical indicator of a return to the bull market. Secondly, the Fed’s tone has changed to a more amicable one, which investors and traders will look for in today’s…
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Inflation in Britain hasn’t peaked, and the GBPUSD is not bottomed out
Inflation in Britain hasn’t peaked, and the GBPUSD is not bottomed out
While economists in the US and Canada, and later policymakers, are talking about peak inflation, that moment is yet to come for the UK. Annual inflation has reached double-digit territory at 10.1%. At the same time, the monthly price growth rate remains elevated.
It is also important to note the spread of inflation beyond energy. The core CPI has accelerated from 5.8% to 6.2%, higher than the…
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