AbeikuGlobal_FX

AbeikuGlobal_FX

The Gold fundamentals are negative and as long as price is trading under the 2365-2358 resistance zone. There is still a high probability of a high selling pressure happening. The GOLD fundamentals are still negative with the FED likely to CUT INTEREST rate and the pending inflation data. Resistance : 2358 - 2365 Support 1 : 2335 Support 2 : 2305

AbeikuGlobal_FX

BTCUSD started an upward trend since 1st May from $56,542 to a last week's high of $71,940. BTCUSD price is hovering around a supply region and the bears are warming up to take control at the resistance level of $70,000. My bias is bearish. Resistance $71,198 - $70,400 Support: $64,595

AbeikuGlobal_FX

The EURUSD is growing in a local ascending channel and there is every reason to technically deduce that the EURUSD will continue the growth by grabbing the liquidity within the 1.08576 zone before continuing the ascension in the local channel. My support is 1.08429 and with a target resistance of 1.09320.

AbeikuGlobal_FX

NASDAQ 100 finished in February 2024 with a record high of $18386.25 however the growth will continue after a structured retracement to the target support at $18121 between the 4hr EMA 20 and 50 and my target resistance is $18474. Support: 18121 Resistance: 18474

AbeikuGlobal_FX

Gold after hitting the High of $2087.98 is anticipated to retest the next significant level support 2065 with an attempt to pick liquidity and further driving up to test the all-time high of $2145 is on the card this week. DXY at the close of last week represent a probability of the dollar index declining to the next key level of 102.5 which could give GOLD the...

AbeikuGlobal_FX

Price has been growing in an ascending channel since price hit low @ $67.68 on December 13th, 2023. Fundamentals reported two weeks ago revealed that the Iraq refinery has been re-opened since its closure more than 10 years ago and that meant more supplies which fell the oil price from $78.69 to $75.73 The following week was met with USOIL demand where buyers...

AbeikuGlobal_FX

Before any serious GOLD buy or sell, I think the yellow metal price must break out of the current 100 pips ranging zone (2027-2038). Here again, the Fundamentals for Tuesday (Jolt Job Openings and CB Consumer Confidence) will be key. Currently the market is neither a bearish nor bullish. It is a stalemate market, I think.

AbeikuGlobal_FX

Gold has been on an uptrend path since a new low was updated at 1812 (Friday, 6th October 2023. The bulls took over from 1812 until there was a break of structure when the price updated the LH from 2013 (11th January) to 2002 on Wednesday, 17th January 2024. The break of structure could mean that if gold price fails to retest the recent HL of 2061 on the Daily,...

AbeikuGlobal_FX

USDJPY price is currently resisted by the DAILY EMA 200 after a fibo retracement on the previous daily candle was done to a 50% discount. Price is expected to continue decline to retest the 4hr EMA 50 at 143.200 in the medium short term and possibly down to retest the monthly support at 142.00 on the expected decline of the USD index as i predicted.

AbeikuGlobal_FX

DXY started a recovery from 100.257 from the heavy decline due to the pause in the interest rate hikes back in December 13th, 2023. The index started to recover from 28th December and to 102.723 due to the positive news from the last Friday NFP fundamentals. Price was quickly knocked down by the negative news on the ISMs late Friday. DXY January candle has done a...

AbeikuGlobal_FX

Gold has been able to fill liquidity to 1879.800 and could correct to 1845 to fulfill Fibonacci retracement to 50% before a possible surge up to 1900 in the coming days. The PPI News on Wednesday, 11th October was a positive news for the greenback (Dollar index) and the CPI and UoM Consumer Sentiment News is coming on Thursday and Friday, 12th/13th...

AbeikuGlobal_FX

A supply order is ripe at165.719 where FVG is filled giving the structure a good balance to short more than 150 pips to retest the Daily EMA-20 or the 4Hr EMA-200.

AbeikuGlobal_FX Updated 

Gold started a recent descending channel from 1947.555 since the FOMC press conference on 20th September 2023. Price could be expected to retest the Daily EMA 200 and 4hr EMA-20 before possibly swinging down to challenge the low since 21st August at 1885. The DXY could also further grow to 109 and ultimately to 113 as i mentioned in my last DXY idea publication....

AbeikuGlobal_FX

DXY has just broken resistance trendline spanning back from September 2022. The DXY broke trendline coinciding with a key level at 106. If this break does not end up been a false break, DXY could swing to 109 within weeks and ultimately further grow to 114 in 2024.

AbeikuGlobal_FX

The SPX 500USD is breaking unto a yearly trendline support from 20th April 2020. The market is ready to retest the weekly EMA-50 and Daily EMA 200 on that same support at 4257 which coincides with the yearly upside trendline support. My bias is that the trend will be upside from the liquidity zone and yearly trendline support. I am also expecting a bearish wave...

AbeikuGlobal_FX

Gold is currently reacting on a key level (1925) which has the Daily EMA-50, 4Hr EMA 200/50/20 on clusted there. The 4hr candle closing below these EMAs could spark a short to the next liquidity zone (1915). The 4Hr candle closing above the EMA-200/50/20 could spark buys to 1952 potentially but before the market will buy, i will expect some liquidity drops to...

AbeikuGlobal_FX

The last week DXY movement fulfilled my idea which I predicted price to hit the key level at 105.8 For the past 13 -14 weeks, the DXY has been on an ascending trend from 99.23 to 105.756. The current resistance has been a key level since 1st December 2022. Price is currently reacting on a resistance trendline of the main ascending channel since 26th September...

AbeikuGlobal_FX Updated 

Last Thursday's ECB Press conference lacked hawkish statements which weaken the currency to slide down the levels as majority of the ECB Board wanted a pause in the rate. The EURUSD has been on a descending channel since 17th July to date. Price is currently correcting after hitting the 1.06310 support level and it is expected to fulfil a Fibonacci retracement...