Technical Analysis

The best trading opportunities occur when both sentiment and the Elliott wave pattern point in the same direction. When sentiment is bullish there an increased probability the FTSE 100 will rally. Sentiment is bullish right now but the Elliott wave pattern points to a decline, so no high confidence in one outcome or the other. […]

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The currency pair opened up the market with a bullish candlestick but after its four-hour formation started falling to the support price line at around 1.1654. After a while, price strived to push upwards towards the first immediate resistance found at 1.1750. Soon afterward, […]

BTCUSD Long-term Trend – Bullish Distribution territories: $9,000, $10,000, $11,000. Accumulation territories: $7,000, $6,000, $5,000.   Bitcoin’s price has b-een rising tremendously against the US dollar for the last few days. A Japanese candlestick that emerged on July 16 led to the intersection of the two SMAs, as the 14-day SMA has crossed the 50-day […]

Ethereum Price Medium-term Trend: Ranging     Supply zones: $600, $650, $700 Demand zones: $300, $250, $200   ETH is still in a ranging scenario in the medium-term outlook. Rejection to further downward movement occurred at the 50-day EMA. The formation of a spinning top a reversal candlestick pattern brought the bulls back. A large […]

YES….IT IS HOT DURING SUMMER… “The person who loses the least amount of money when things go wrong inevitably wins.” – Chris Tate Apparently, this little piece of information is a complete and utter surprise to most Australians judging by the level of commentary attached to the current hot spell sweeping the country. The point […]

BTCUSD Long-term Trend – Bullish     Distribution territories: $8,500.00, $9,500.00, $10,500.00. Accumulation territories: $6,000.00, $5,000.00, $4,000.00.   Bitcoin’s market value has seen a sharp and tremendous increase this week. The cryptocurrency made strong northbound movements after making corrections caused by the bears’ selling pressure. The bulls now seem to be in...

Here’s the market outlook for the week: EURUSD Dominant bias: Neutral Price made a bullish attempt on Monday, but started coming down afterwards. The support line at 1.1600 was tested and price bounced off it, closing above another support line at 1.1700. The market is neutral, and that status will continue as long as price […]

Ethereum Medium-term Trend: Ranging   Supply zones: $700, $750, $800 Demand zones: $350, $300, $250   Ethereum is ranging in the medium-term outlook. The bulls failure for further upward price push above the $506.65 in the supply area after retesting the broken support now demand zone at $491.74 returned the bears back to the market. […]

BTCUSD Long-term Trend – Bearish     Distribution territories: $7,500.00, $8,500.00, $9,500.00. Accumulation territories: $5,500.00, $4,500.00, $3,500.00.   Bitcoin’s price has been undervalued against the US dollar this week. The cryptocurrency saw its value rise last week The pair began falling on July 8 while it met some strong distribution territories that were difficult to...

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish In the long-term, the pair is bearish, and last week was bearish too. Price dropped by 140 pips, moved briefly below the support line at 1.1650, and then closed above it. This week, there could be a test of the support lines at 1.1650 […]