Mihai_Iacob

Mihai_Iacob Updated 

In my Monday commentary, I stated that there is a high likelihood that OANDA:XAUUSD may have finished correcting, and indeed, the price rose to around 2330. After this initial increase, there was a subsequent drop, but bulls regained control just above the 2300 mark. Yesterday's price movement indicates that dips are being bought, suggesting that Gold has...

Mihai_Iacob

As I mentioned a few days ago, BITSTAMP:BTCUSD has broken above the descending resistance level of its downward channel. This breakout could signal the end of the recent correction. Following the initial climb to the critical horizontal level at 65k, Bitcoin experienced another drop, testing the previously broken resistance level, which this time acted as...

Mihai_Iacob

For the past two months, CRYPTOCAP:TOTAL3 has been undergoing a correction. This correction was anticipated for many altcoins and, importantly, is very healthy for the market. Upon closer analysis of the chart, it becomes evident that this correction does not signify a trend reversal. Total3 halted its descent around the 600T zone, which does not represent...

Mihai_Iacob

Recently, FX:EURAUD breached the 1.63 support level. However, after reaching a low of 1.6220, the pair swiftly reversed, indicating a false breakout. Over the past three weeks, the pair has formed a falling wedge pattern, hinting at a potential reversal to the upside. Confirmation of a bullish scenario would come with a break above the descending trend line. In...

Mihai_Iacob

Since the beginning of the year, FX:EURUSD has been in a downtrend. Despite occasional reversals from the lows, a broader examination reveals a pattern of lower highs. Recently, once again, EURUSD reversed from the 1.06 zone low, but its ascent was halted just below the descending trend line, followed by a resumption of the downward movement. Moreover, the...

Mihai_Iacob

In my earlier analysis of OANDA:XAGUSD , I emphasized that bulls ought to monitor the price action closely, as Silver's correction might have concluded and previous resistance could now serve as support. As anticipated, following a double Pin Bar formation in that area, Silver's price began to ascend, currently trading at 27.60, around an interim resistance...

Mihai_Iacob

At the beginning of the month, due to tensions in the Middle East, BITSTAMP:BTCUSD dropped below the crucial 62k technical support level, even dipping below 60k to reach a local low at 57k. However, this breakdown was short-lived, with BTC spending only 2 days below this significant level before reversing strongly. This reversal confirmed a false break when the...

Mihai_Iacob

For over two years, OANDA:EURJPY has been experiencing an upward trend. The pair is ascending within a clearly defined rising channel. Despite a drop at the end of last year, triggered by JPY repatriation, the overall trend remained intact, and EURJPY resumed its upward trajectory at the beginning of this year. The end of April saw the pair reach a new...

Mihai_Iacob

After reaching its peak at 4000 on March 11th, COINBASE:ETHUSD began to correct lower towards the 3000 zone, which is the next important level. Despite bearish attempts to push the price below this level over the past trading month, they have failed each time. The decline from the recent peak at 4000 is also confined within a falling wedge pattern, which...

Mihai_Iacob

After reaching the all-time high in mid-April, OANDA:XAUUSD , as normal, began to correct lower. As I correctly anticipated at that time, it dropped by 1,000 pips and fell below 2300. However, around the 2280 level, which I had previously highlighted, bulls entered the market and pushed the price up every time it dipped in that zone. Friday's NFP report...

Mihai_Iacob

In my posts over the past month and a half, I've maintained a bearish stance on $FX:GBPUSD. However, despite reaching a low of 1.23, the pair reversed course and climbed back to 1.25+, failing to meet my prediction of reaching the 1.2 zone. Currently, GBPUSD is trading at 1.2540, marking a crucial point for this pair. While I typically don't present multiple...

Mihai_Iacob

As I mentioned yesterday, following the substantial decline observed on the last day of April, OANDA:XAUUSD could potentially rise and test the resistance zone around 2315. Indeed, Gold rose even further to the 2330 zone before beginning to decline once more. In my view, the medium-term trend for Gold has shifted to bearish, and I anticipate a new decline...

Mihai_Iacob

Following a very choppy price action that finalized a flag pattern, OANDA:XAUUSD experienced a significant decline yesterday, amounting to a drop of 500 pips, breaching crucial horizontal support levels at 2315 and the 2300 mark, nearly reaching the support zone at 2270. After such a substantial decline, a rebound is possible, though the medium-term trend...

Mihai_Iacob

Yesterday, OANDA:XAUUSD dipped below the 2300 mark, aiming to test the support zone around 2270. However, despite two attempts to continue downwards, the price swiftly reversed above 2300 each time. The second reversal was even more pronounced than the first, resulting in a 400-pip increase in price. At present, Gold is trading around 2225 support zone. A...

Mihai_Iacob

As you're aware, I've held a strong bearish stance on FX:GBPUSD , not only anticipating a drop below the 1.25 support level but also expecting a plunge to the 1.2 level. So far, this prediction has been on point. Last week, cable confirmed its weakness as all rallies were sold off, failing to even retest the broken 1.25 support level. Maintaining my bearish...

Mihai_Iacob Updated 

As you're aware, I maintain my expectation for a significant correction in the price of $OANDA:XAUUSD. Despite this correction not materializing yet, my confidence in this outlook continues to strengthen each day. Yesterday proved to be relatively quiet for XAUUSD, with the price exhibiting range-bound movements during both the London and New York sessions....

Mihai_Iacob

After breaking below the horizontal support level in the 3.2k zone two Saturdays ago, BITSTAMP:ETHUSD remained below this crucial level throughout last week. However, after initially reversing upon touching 2850, Ethereum tested that level again and reversed once more on Friday, forming a prominent daily Pin Bar on our chart. As of now, the price has returned...

Mihai_Iacob

Last week, BITSTAMP:BTCUSD tested the waters at the important 62k support level and even dipped below it momentarily, driven by news regarding tensions in the Middle East. However, after touching the significant 60k mark twice, the price swiftly reversed, signaling a false breakdown. The price quickly rebounded above both the horizontal support and the...