Technical Analysis

Bitcoin (BTCUSD) Buying the Dips After Elliott Wave Double Three

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Hello fellow traders. In this technical article we’re going to take a look at the Elliott Wave charts charts of Bitcoin BTCUSD published in members area of the website. Our members are aware of the numerous positive trading setups we’ve had in the crypto market recently. One of them is BTCUSD, which experienced a pullback,…

SPX 500: How Low Can the Correction Go?

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The S&P 500 has recorded three consecutive weekly losses since its recent all-time high level of 5,265 printed on 28 March 2024. Last week’s decline of -3.05% was its worst weekly performance since early March 2023. A clear break below its upward-sloping 50-day moving average put its medium-term uptrend phase in jeopardy. The current multi-week…

EUR/GBP: Rallies for the second day as dovish comments from BoE officials deflate Pound

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EURGBP extends strong rally into second straight day and hit the highest in 4 ½ months on Monday, as the pound was hit by dovish comments from BoE officials, who shifted their initial view and expect inflation to ease further and remain around the central bank’s 2% target for next couple of years. The pair…

US Dollar Looks to Extend Rise: EUR/USD Aims for Parity, USD/JPY at Tipping Point

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The bulls have been buoyed by recent comments from Federal Reserve officials. Their hawkish stance, indicating that there is no rush to cut interest rates for now, is a key driver for the greenback.This shift comes despite contrasting situations elsewhere. The European Central Bank is still contemplating a rate cut in June, and the interest…

Brent Crude Dips to Four-Week Low Amid Easing Geopolitical Tensions

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Brent crude oil prices fell to a four-week low of 86.50 USD on Monday, influenced by several contributing factors. The primary cause of the decline was a reduction in geopolitical tensions as Iran’s rhetoric toward Israel showed signs of de-escalation. This change is significant given that Iran is the third-largest OPEC oil producer, with substantial…

USD/TRY Forecast: Turkish Treasury Tightens Tax Evasion Measures - 22 April 2024

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Signals for the Lira Against the Dollar Today Risk 0.50%Bullish Entry Points:Open a buy order at 32.40. Set a stop-loss order below 31.20. Move the stop-loss to the entry point and follow the profit with a price movement of 50 pips. Close half the contracts at a profit of 70 pips and leave the rest until the strong resistance…

USD/JPY Analysis: Eyes Are Turning Towards BoJ - 22 April 2024

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The Bank of Japan's policy decision will be closely scrutinized this week for clues on the future path of Japanese interest rates.The BoJ will unveil its latest economic forecasts, a little over a month after its first-rate hike since 2007.In addition, USD/JPY will be closely watching the release of the US Federal Reserve's preferred inflation…

GBP/USD Analysis: Geopolitical Tensions to Exacerbate Losses - 22 April 2024

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According to forex market trading, the US dollar rose on news of Israeli airstrikes against Iran but has since pared those gains as the attacks were clearly signaled.According to forex trading platforms, GBP/USD has plummeted to a five-month low of 1.2366 support after Israel launched a series of airstrikes on multiple military targets inside Iran. The…

EUR/USD Analysis: Bearish Dominance Continues - 22 April 2024

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Throughout last week's trading, the EUR/USD attempted to rebound but its gains were limited and failed to surpass the 1.0700 level as selling pressure remains stronger and the US dollar has many factors of strength.Recently, It closed the week's trading stable around the 1.0655 level and in the same week the currency pair plummeted towards…

EUR/USD Weekly Forecast: After Nosedive the Potential of a New Range Emerges

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The EUR/USD went into the weekend near values it began last Monday with, this as financial institutions seem to have established a sense of equilibrium as a new outlook emerges.The EUR/USD finished the week of trading near the 1.06520 mark, on last Monday the EUR/USD also was around this price vicinity.Certainly plenty of vigorous trading…

ANALYST PICKS

Gold Breakout Nears as Bullish Pennant Pattern Forms

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Gold Breakout Nears as Bullish Pennant Pattern FormsLearn how to trade gold with our free guide Recommended by Nick Cawley How to Trade Gold The recent gold run-up has stalled over the past few days with little fundamental news or activity to help guide the precious metal. US rate cuts are coming, probably in June,…

Silver Tumbles Back into a Multi-Month Support Zone

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Silver Tumbles Back into a Multi-Month Support ZoneThe recent hawkish re-pricing seen in the US interest rate market has weighed on silver and sent it tumbling. The latest market forecasts are for the US Federal Reserve to start cutting rates at either the June meeting – 64% probability – or at the July meeting –…

EUR/GBP - Respecting Multi-Month Boundaries - Update

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EUR/GBP – Multi-Month Range Remains IntactLearn how to range trade with our complimentary guide Recommended by Nick Cawley The Fundamentals of Range Trading *** UPDATE ***EUR/GBP is closing in on multi-month support and traders should be aware of the multiple attempts to break lower. Traders should look for a reaction higher before considering any trade.…

EUR/GBP - Respecting Multi-Month Boundaries

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EUR/GBP – Multi-Month Range Remains IntactLearn how to range trade with our complimentary guide Recommended by Nick Cawley The Fundamentals of Range Trading EUR/GBP remains a pair for range traders with the body of the rough 0.8500 to 0.8765 range solidly in place for a few months. The CCI indicator at the bottom of the…