ETH/USD bulls have made a strong comeback in recent days. Following Monday’s +13.0% advance and Tuesday’s +7.0% push, the major altcoin is within reach of challenging all-time highs of $4,092. Following the break of key resistance at $3,677 (now serving as support) and April’s high of $3,726, the path of least resistance is towards all-time highs.
You will note...
Since pencilling in a bottom at $1.0601 in April of this year, Europe’s single currency has rallied against the US dollar and established clear higher highs and higher lows (an uptrend).
From the EUR/USD’s daily chart, price action recently rejected resistance at $1.0883, formed a moderate correction within the trend, and led the pair to retest a trendline...
Everyone’s favourite yellow metal (spot gold ) ended Wednesday at session lows, extending the retracement slide from recent all-time highs of $2,450. This opens the door to possible dip-buying opportunities at the 61.8% Fibonacci retracement ratio at $2,343, a level complemented by a local trendline resistance-turned-potential support extended from the high of...
Following UK inflation data earlier today, the FTSE 100 market index has continued to decline from its all-time high of 8,474 last week.
Technical Market
With the FTSE 100’s trend still firmly to the upside, the H4 timeframe is offering interesting price action at the moment.
Firstly, you will notice that as the index tested all-time highs, price action...
BTC/USD bulls have been making a comeback since forming a low of $56,478 and recently completed an inverted head and shoulders pattern (left shoulder: $59,559; head: $56,478; right shoulder: $60,165). Yesterday’s rally ventured through the pattern’s neckline, a descending line extended from the high of $67,273.
What is interesting from a technical standpoint is...
Technicals Suggesting a Correction to Support for Copper
The metals complex has been on fire; copper futures (COMEX) recently touched gloves with a fresh record high of $5.1990 per pound. This followed last week printing its largest one-week gain (+8.3%) since early February 2022.
You may also note that the metal shook hands with a 1.272% Fibonacci projection...
