The price of silver (XAG/USD) has taken a sharp downturn, plunging to near $23.15 as investors seek safer assets in the early New York session. Market participants are rapidly abandoning the white metal, leading to a decline in its appeal. This sudden shift is primarily attributed to investors reevaluating their bets on early rate cuts
Technical Analysis
The Nasdaq 100 has long been outperforming the Dow Jones Industrial Average (DJIA) during the major uptrend phase. However, this trend seems to be changing as there has been a recent bullish rotation into the laggard, DJIA. This rotation is considered a positive breadth development for the US stock market. In this analysis, we will
The GBPUSD currency pair has recently experienced a surge in value, reaching a four-month peak. However, despite this positive momentum, it has also faced some setbacks along the way. Prior to its current upward trajectory, GBPUSD broke above a significant descending trendline in early November, signaling a potential shift in its overall performance. This bullish
Traders keeping a close eye on EURNZD have noticed the presence of incomplete bearish sequences in the cycle from the peak on August 21st. This has led to a bearish outlook for the pair, with a target of 1.7329 area. Traders have been advised to avoid buying and instead focus on short positions. A recent
Bitcoin’s price has experienced a resurgence following rumors of the approval of a spot ETF. The cryptocurrency broke out of a major declining channel on the 4-hour chart, surpassing the $43,000 resistance level. This bullish movement has signaled a potential upward trend. After breaking multiple hurdles, including the 100 simple moving average (red, 4 hours)
The first trade idea for January is the EURUSD pair on the weekly timeframe. The original article suggests that EURUSD has reached a supply zone, indicating a potential fall in price. While the article mentions various confluences supporting this view, such as the 200-period moving average resistance and a resistance trendline, it fails to provide
USDCAD, the currency pair consisting of the US dollar and the Canadian dollar, is currently on the path to recovery after a significant decline in December. While positive momentum is gaining traction, it is still uncertain whether this is just a temporary respite or the beginning of a sustained rebound. After reaching a five-month low
The Australian Dollar (AUD) has seen a fresh increase against the US Dollar (USD), moving above key resistance levels. On the hourly chart of AUD/USD at FXOpen, the pair started a positive move from the 0.6725 support. After clearing the 0.6760 resistance, the Aussie Dollar was able to enter a positive zone. It also closed
GBPUSD has recently reached a four-month peak of 1.2826, signaling a positive bias. The pair has been forming a profound structure of higher highs since breaking above a crucial descending trendline in early November. This rally may be short-lived, but the impending completion of a golden cross between the 50- and 200-day simple moving averages
After failing to maintain stability above the 145.00 support level, USD/JPY has embarked on a major decline. The 4-hour chart reveals that the pair has broken below the 143.20 support zone, indicating a shift into a bearish zone. Furthermore, USD/JPY has dropped below the 142.50 level, as well as the 100 and 200 simple moving
Gold prices have surged higher, surpassing the significant level of $2,075, as the festive period contributes to increased demand for the precious metal. This surge in gold prices can be attributed to the low liquidity during the holiday season, which has fueled the buying momentum. Additionally, several momentum indicators are supporting the current upward movement,
The AUDUSD pair hit a fresh five-month peak on Thursday, signaling a strong recovery from its 2023 bottom in October. However, with oscillators in overbought levels for several sessions, there are concerns about whether the rally can continue or if a pullback is on the horizon. Both the RSI and stochastics have been within their