Technical Analysis

Elliott Wave Theory, a popular analytical tool among traders, offers insights into market psychology and price movements through wave patterns. This technique enables traders to anticipate potential price reversals and identify trend continuations. In this article, we will specifically analyze the XAUUSD (Gold against the US Dollar) using 1-hour chart data, focusing on the significant
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The US 100 index currently finds itself in a precarious yet promising position as we head into the weekend trading session. Despite some positive momentum experienced from US banking earnings, the overall sentiment appears subdued, primarily due to disappointing forecasts from major players such as Tesla, particularly in relation to its self-driving initiatives. This mixed
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Recently, the NZD/USD currency pair has experienced a significant decline, reaching a seven-week low of 0.6091. This depreciation reflects a broader sell-off that began on October 1 and has gained momentum in the subsequent weeks. The primary catalyst for this downturn is the Reserve Bank of New Zealand’s (RBNZ) monetary policy, particularly its decision to
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Bitcoin’s recent market performance illustrates the complexity of cryptocurrency trading amid high volatility. The cryptocurrency began an upward trajectory, successfully breaking the $62,000 barrier and climbing past the $63,500 mark. However, this momentum was short-lived as it encountered significant resistance near the $64,200 level, particularly aligned with a bearish trend line observed on the 4-hour
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Elliott Wave Theory serves as a critical framework for traders seeking insight into market behavior, particularly in volatile commodities like gold. By analyzing price patterns and trends, traders identify potential profit opportunities. The recent charts have suggested a fascinating dynamic at play, specifically in the 1-hour timeframe for gold. Notably, a rally that began on
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The recent week has witnessed notable weakness in the Japanese yen (JPY), primarily attributed to what analysts are calling “political jawboning.” This term suggests that political rhetoric and maneuvering, rather than significant macroeconomic changes, are influencing currency values. The dynamics at play offer a rich tapestry for analysis, particularly regarding the USD/JPY currency pair, which
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