The end of the month is finally here, and risk has a tough time, as pointed by the sharp selloff in the AUD/USD pair. The Aussie pair declined more than a hundred pips points in late North American trading yesterday after the US Treasury yields spiked and sent stocks in […]
The EUR/JPY cross pair broke higher out of a triangular pattern that resembles a pennant. While the price did not reach the measured move yet, it did move out of a rising channel, a move that typically suggests overbought levels. The JPY pairs are all bid across the dashboard as […]
Crude oil price keeps forming higher highs while holding the series of higher lows, a move that defines a bullish trend. The current run higher in the price of crude oil started in November when the pharma companies have announced the efficacy of the COVID-19 vaccines. Ever since, the crude […]
Dax index bounced from the recent lows just in time to keep the series of higher lows intact. Therefore, the bullish bias persists while above 14,000 points and threatening to break horizontal resistance. When the market hesitates against horizontal resistance but keeps forming a series of higher lows, it means […]
The S&P500 index bounced from yesterday’s lows during Jerome Powell’s testimony in front of the Senate Banking Committee. The move higher came right after the index completed the measured move of a head and shoulders pattern. Moreover, the price is about to test the neckline, it a true test to […]
GBP/USD broke the upper edge of a rising channel and looks a bit overbought here. Considering that the 1.40 looms large, as an important psychological level, we should not discount a move back to it, especially that some traders may book profits toward the end of the trading month. Cable […]
Gold price bounced from the lows, albeit the move higher is not convincing anyone yet. The problem with gold bulls is that they feel left outside of the recent rally in the commodity markets. Copper and crude oil rallied the most, but gold lagged. Currently, the price of gold forms […]
The AUD/USD pair is one of the exchange rates that outperformed the most this year. It sits at the year’s highs with only a few trading days left out of the trading month. The relentless rally in the commodity prices triggered the move higher in the Australian dollar too. Australia […]
Bitcoin price is on a rollercoaster lately. It dropped over 20% from the highs after the U.S. Treasury Secretary, Janet Yellen, said that Bitcoin is nothing but a bubble. Fear made some weak hands selling, and the price of Bitcoin collapsed, triggering a similar move in Ethereum and all other […]
The EUR/USD pair bounced from below 1.20 but does not act as bid against the dollar as other pairs do – for example, the GBP/USD or the AUD/USD. Various explanations exist, one of them being that Europe is still the region most affected by the pandemic, and many of its […]
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