During Thursday’s trading session, the dollar experienced a significant decline, particularly against the yen. This decline has brought the currency perilously close to the crucial support level of 141 yen. Many market participants are closely monitoring this level to assess the future trajectory of the dollar. Additionally, the uptrend line is also at risk of
In this article, we will analyze the past performance of the 1-hour Elliott Wave Charts of the Eurostoxx index. Our analysis is based on the information presented to members at elliottwave-forecast. The focus of our analysis is on the rally from the 23 October 2023 low, which is unfolding as an impulse structure. We will
Chinese smartphone giant Xiaomi has set its sights on a new frontier – the electric vehicle market. With the unveiling of its first electric sedan, the SU7, Xiaomi aims to become one of the world’s top five automakers, ushering in a new era of innovation and competition. Despite the challenges and uncertainties that lie ahead,
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
The USD/JPY pair has seen a decline as the US Dollar weakens on the back of the dovish Federal Reserve’s outlook in the first quarter of 2024. During the early European session on Thursday, the pair is trading lower around 140.80. In this article, we will analyze the current technical indicators and levels of support
Chinese electronics company Xiaomi has recently announced its entry into China’s competitive electric vehicle market. With over 10 billion yuan ($1.4 billion) invested in its development, Xiaomi is set to rival established automakers such as Tesla and Porsche with its new car model, the Xiaomi SU7. CEO Lei Jun revealed that the vehicle is currently
The price of Ethereum (ETH) has recently surpassed $2,440 per token, reaching a new high for 2023. Surprisingly, Bitcoin (BTC) did not mirror this bullish sentiment, hovering around the $43,000 level for the past five days. So, what has been fueling the growth of ETH/USD from a fundamental perspective? While there is no clear trigger
Gold futures continue to surge in the market, with the most active February 2024 futures contract currently up by $9.80, fixing at $2089. This price is just a few dollars below one of the highest closing prices recorded recently, reaching $2091 on Friday, December 1. Over the last four trading days, gold has experienced a
The end of the year has brought about contrasting monetary policy decisions between the Federal Reserve (Fed) and the Bank of England. While the Fed has signaled rate cuts for 2024, three members of the Bank of England’s Monetary Policy Committee voted for a 25-basis point interest rate hike. This significant difference in policy decisions
In recent days, crude oil prices have shown signs of recovery from the $67.70 zone. This upward movement has allowed the price to break through the $70.00 zone and enter into a positive zone. Analyzing the 4-hour chart of XTI/USD, we can see that the price has settled above the $73.50 zone, as well as
America Airlines (AAL) has shown signs of a potential rally, as indicated by the Short Term Elliott Wave View. Analyzing the movement from the low on 10.31.2023, it appears that a 5-wave impulse structure is currently in progress. This suggests that the stock has the potential to continue its upward trajectory. Following the low on