Hello, GBPUSD sees more downside as the dollar stays strong as doubts about fed rate cuts grow so the UK struggles to find a way out of the market slump that it is currently in.Early gains of +0.15% were seen as the USD came under pressure late in NY, following a +0.05% close. Trump advisors considering gradual tariff hikes led to USD selling in late NY. A survey shows UK firms reduced headcount late last year in response to a tax hike. Mixed daily momentum studies and expanding 21-day Bollinger bands are noted in charts. The 5, 10, and 21-DMAs are sliding, with weeklies remaining bearish, indicating a strong negative slip. The focus is on testing the 1.2038 low from October 2023, followed by the 1.1805 low in March 2023. Friday's high of 1.2322 and the well-tested 1.2465 21 DMA are the first resistance levels. Bulls need a close above the 1.2465 21-DMA to gain excitement. A swing trade opportunity is emerging, with strong daily and weekly resistance at 1.226201/1.241555 which have to confirm upside along the way and act as supports. Ultimately, we want the monthly initial support at 1.24809 to hold, ensuring a guaranteed upside. No Nonsense. Just Really Good Market Insights. Leave a Boost TradeWithTheTrend3344
Due to the previous downfall of the bitcoin and ethereum, as well as overall crypto market I expect some kind of rebound from the zone I have marked as long position which is leaning towards a short term change of character towards the long bias, if the first (closest zone) fails I will be looking forward to the second highlighted grey area (50%-75% of the long inefficient wick) from which I would like to see a reversal to the previously formed smooth bayside above.
Citi group is dancing among some key levels and has some interesting divergences on the BASS sentiment indicator and has low momentum on the Cycle Swing Momentum indicator... Line date from early 2000s to the last 4 years...so you know they are good Closer look if you need https://www.tradingview.com/x/gPkpzT4j/
I would count the 2022-2024 rally in DJT transportation index as a large corrective subwave (B) up to be followed by a subwave (C) of wave (4) down
Bias: Bullish USD News: -Core PPI m/m Analysis: -Strong bearish retracement -If price rejects 0.236 fib level price might continue being bearish for the day -Looking for SELL if there's confirmation on lower timeframe -Pivot point: 2682 Disclaimer: This analysis is from a personal point of view, always conduct on your own research before making any trading decisions as the analysis do not guarantee complete accuracy.
Gold prices dropped sharply as investors sought safety, buying the US dollar after US Treasury yields reached their highest levels since November 2023. Although the December US non-farm payroll data was positive, with 256K jobs created, traders are still focused on inflation figures. The Consumer Price Index (CPI) for December is forecasted to rise to 2.8%, up from 2.7% in November, while the core CPI is expected to remain at 3.3%. This inflation data could influence the Federal Reserve's decision on interest rate cuts. However, the current expectation is for only a 25 basis point reduction, from 4.25%-4.50% to 4.00%. The gold market is also affected by positive news about a potential agreement to end the war in Gaza and political developments in the US, especially with President Donald Trump's inauguration next week, when he may implement new tariff decisions. Looking at the technical chart at 1:00, gold is trading at $2,657, down 1.20% after failing to break through the key resistance level of $2,700. Although gold had a prior uptrend, the 'bearish-engulfing' pattern on the daily chart indicates increasing selling pressure. If the price of gold falls below the support level of $2,658, it could be a strong signal for a further downtrend, with the first target being the $2,600 area. To manage risk, you could set a stop loss at $2,640. If gold recovers and breaks through the $2,700 level, the next target would be $2,750, but in the short term, the downtrend is likely to remain dominant.
ai16z has been going through a major price correction. The price retraced to $0.91 at Fib 0.786 level (the last line of defence for the bull) and bounced up. All momentum indicators reached oversold territory and broke up the descending trendline. There are some signs of strength, however, it is still too premature to open a long position. When the price goes down significantly and tries to recover to the upside, V shape recovery is quite rare. It usually goes through a very choppy consolidation phase and works its way through to the upside. Once way to identify the trend reversal for me is to use a Fibonacci retracement line. When I think the price has hit the bottom, I draw a Fib from the suspected top to the suspected bottom. In this case, from $2.30 to $0.91 (Orange colored fib line in the chart). When I analyse the chart with Fib level, the first thing I pay attention to is if the price will decisively break and close above 0.236 level. When it does, it often moves up to the 0.5-0.786 zone. But I need to look for more confluences as below: 1) I need to wait for the daily stochastics (9,3,3) to reset and start to move to the upside. 2) 4H MACD lines cross, point upwards and enter the bull zone (above 0). 3) 4H Stochastics is not overbought territory. If it is, the price is likely to retrace at least one more time. If those three conditions are met and the price also breaks above 0.236 fib level, it is likely to give me a good entry for long.
Canadian HEU is rejecting daily resistance trendline despite OIL rallying today and American energy companies performing green today May have to do with tariff threats. Ticker: HED for shorting HEU
Sellers tested the neckline on BTC for a 3rd time. Buyers defended for a 3rd time.
Bottom fish AAPL daily hammer candle following last daily candle mini volume spike No bullish divergence spotted so might fakeout or playout, either way it's a well-timed bottom fish with minimal loss.