The 31,000 remains key in the short-term for the Dow Jones. The level offered strong resistance, and now it acts as support as the price bounced several times so far on any retest. Stocks in the United States trade with a mixed tone in the sense that Nasdaq corrected severely […]
Tesla share price suffers from the sharp decline in the price of Bitcoin that started yesterday. At the moment of writing this article, Bitcoin trades at $48k; only last weekend it was as high as $58k. The move lower in the cryptocurrencies was triggered by Janet Yellen’s remarks that cryptocurrencies […]
Dax index appears to have formed a double top pattern at the 14,150 level. The leading German index failed to hold above 14,000 despite trying to do so all day yesterday. On the one hand, the bullishness in the Dow Jones helped the Dax, but the weakness in the tech […]
One of the strongest currencies in 2021 is the GBP and the GBP/USD, the one pair that outperformed, together with the AUD/USD. Brexit fears vanished in the face of the exemplary vaccination efforts in the United Kingdom and the prospect of faster economic growth when compared to the European Union […]
Bitcoin price lost almost twenty percent after Janet Yellen, the U.S. Treasury Secretary, slammed the cryptocurrency for its lack of use, high energy consumption, and illicit use. Bluntly, her remarks implied that Bitcoin is a bubble, and investors should take caution. As such, the price of Bitcoin declined from over […]
The EUR/USD pair is back with a vengeance. After it traded with a bearish tone for the entire month of January, the trend reversed in February as it bounced from an important confluence area. A confluence area is given by both dynamic and support levels. The market finds multiple elements […]
Dax index failed to hold above the 14,000 level and now trades with a bearish tone. While the series of higher lows remains in place, the market looks vulnerable to more downside. The Dax followed the stock market exuberance seen since last November. From the moment that the pharmaceutical companies […]
The crude oil price corrects from the highs as it was rejected in its attempt to consolidate above the $60 level. The market appears to have started a head and shoulders pattern, with the price currently looking for support on the right shoulder. On the move lower, the lower edge […]
Gold price looks to have formed a temporary bottom. It made a new lower low last week and then bounced after a bullish divergence with the RSI. On top of that, the price of gold shows a falling wedge on the lower timeframes, a pattern that typically leads to reversals. […]
The EUR/JPY cross was one of the top-performing currency pairs since the 2020 stock market drop. Ever since it bounced and formed what appears to be a rising wedge pattern. The Euro remains well bid, especially against the JPY and the USD. Other Euro pairs do not witness the same […]
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