Top 5 Major Economic Events to Watch This Week
As we kick off a new week, let’s take a look at the top five major economic events that will be in the spotlight: 1. U.S. Consumer Confidence Index On Friday, the United States will release the...
Month: May 2024
Australian Dollar Surges Higher, But Consolidation May Be Ahead
The AUDUSD currency pair has broken out above the 0.6586 resistance level, extending its impressive upside move from the 0.6361 low to a high of 0.6646 in recent trading sessions. The pair is now trading within the...
British Pound Stages Bullish Breakout Against US Dollar
The GBPUSD currency pair has broken out above the falling trendline resistance visible on the 4-hour chart. This technical breakout suggests that the recent downside move from the 1.2893 high has likely completed at the 1.2299 low....
Euro Stalls at Key Trendline Resistance Against US Dollar
The EURUSD currency pair has staged an impressive rally from the 1.0600 low, breaking above the 1.0752 resistance level and extending its upside move to test the falling trendline resistance visible on the 4-hour chart. However, the...
Elliott Wave Analysis on EURJPY Expects Support Soon
Short Term Elliott Wave View on EURJPY suggests the rally from 12.7.2023 low is in progress as a 5 waves. Up from 12.7.2023 low, wave 1 ended at 163.71 and pullback in wave 2 ended at 160.21....
EURUSD Tests Resistance: Uptrend Signal or Correction Within Downtrend?
EURUSD’s price action faces a critical juncture, with a key resistance level potentially dictating the future direction of the currency pair. This analysis examines the technical situation and explores potential scenarios. EURUSD Encounters Resistance: Upside Potential on...
Elliott Wave Analysis: 7 Swing Correction in Gold (XAUUSD)
Short Term Elliott Wave View on Gold (XAUUSD) suggests that rally from 11.13.2023 low is unfolding as a 5 waves impulse. Up from 11.13.2023 low, wave 1 ended at 2146.79 and dips in wave 2 ended at...
WTI Breaks Channel Support: Downtrend Confirmed or Deeper Correction?
WTI’s price action has taken a bearish turn, breaking a key support level. This analysis examines the technical situation and explores potential scenarios for the oil market. WTI Falls Below Channel: Downturn or Correction? Support and Resistance...
USDJPY Breaks Down: Uptrend Over or Correction Incoming?
USDJPY’s price action has shifted, raising questions about the future direction of the currency pair. This analysis examines the technical situation and explores potential scenarios. USDJPY Breaks Key Levels: Potential Scenarios: Overall Sentiment: The technical outlook for...
Injective Protocol Coin $INJ Aiming For Daily Target at $100
$INJ is the native token of Injective Protocol, a blockchain protocol optimized for trading assets across different blockchains and it offer auto-executing smart contracts which empower faster, more innovative and groundbreaking applications. In today’s article, we’ll explore the...