The short-term Elliott Wave view in Nikkei Futures (NKD) indicates that the rally to 40960 marked the end of wave 3. Currently, the market is experiencing a pullback in wave 4, which is unfolding as a double three Elliott Wave structure. The downward movement from wave 3 saw wave (a) ending at 40025 and wave
Technical Analysis
The XAU/USD gold chart today is showing that the historical record price of gold has surpassed USD 2,400 per ounce. This increase in price can be attributed to a variety of factors, including fears of a new round of inflation due to rising commodity prices and ongoing geopolitical tensions around the world. Active military conflicts
The EUR/USD pair saw a significant drop below the crucial 1.0780 support level, indicating a shift in market sentiment. Notably, the pair breached a key bullish trend line with support at 1.0850 on the 4-hour chart, signaling a bearish trend. The escalation of geopolitical tensions, particularly Iran’s launch of more than 300 drones and missiles
The USD/JPY pair has shown significant strength in the market, starting another increase and clearing the 152.50 resistance level. This movement indicates a bullish trend for the US Dollar against the Japanese Yen. Looking at the 4-hour chart, a key bullish trend line is forming with support at 152.70, indicating a strong upward momentum. The
Today, the USD/JPY rate stands at around 153.20 yen per US dollar, marking a significant shift fueled by the dollar’s strength following reports on US inflation. This has led to the yen weakening to levels not seen since the mid-1990s. A crucial development in the market was the bullish breakout past the 152 yen per
AUDCAD has been on a rally mode since April 2, finding support at the uptrend line drawn from the low of September 27. This rally has been confirmed by the pair breaking above the 0.8930 resistance level, now acting as support. The next key level to watch is at 0.9055. Both the MACD and RSI
The EUR/USD pair is currently maintaining a neutral stance, hovering around 1.0851, as the market eagerly awaits crucial updates. These updates include the US inflation data for March and the outcome of the European Central Bank (ECB) meeting set to take place on Thursday. Investors are approaching these impending events with caution, as they could
Despite hitting a new high, CADJPY remains within a range, indicating a potential lack of strong momentum in either direction. The currency pair reached a high of 112.46 last week, the highest level since 2008. However, it has since remained stagnant in the 112.00 area. The market’s ability to stay above the 20-day simple moving
USDJPY has shown a steady uptrend since March, with the pair trading just below the 152.00 level. This level, which was protected by Japanese authorities in 2022, has acted as a key resistance point. The momentum indicators are approaching overbought conditions, indicating a potential slowdown in the uptrend. Despite the recent surge to a 34-year
NZD/USD has shown signs of attempting a fresh increase above the crucial 0.6000 resistance zone, indicating a shift towards a bullish trend. The pair recently broke a major bearish trend line with resistance at 0.5990 on the 4-hour chart, suggesting a potential reversal in the near future. The New Zealand Dollar started a recovery wave
The Japanese yen is currently facing a significant decline against the US dollar, as evidenced by the USD/JPY pair hovering around 151.88 on Tuesday. This decline is happening despite the instability of the US dollar, largely due to fluctuations in Treasury bond yields. Market participants are exercising caution as the USD/JPY pair approaches levels that
The upcoming halving event for Bitcoin, expected to occur on April 19-20, has generated excitement among cryptocurrency enthusiasts. The reduction in block mining rewards is projected to make Bitcoin mining less profitable, ultimately leading to a decrease in the coin supply. This, in turn, could potentially drive up the BTC/USD price as demand remains constant.