– EURJPY reversed from resistance level 164.00 – Likely to fall to support level 163.85 EURJPY currency pair recently reversed down from the pivotal resistance level 164.00, which has been reversing the price from last month. The resistance level 164.00 was strengthened by the nearby upper daily Bollinger Band, as you can see below. Given the strength of the aforementioned resistance level 164.00 and the bearish euro sentiment seen today, EURJPY can be expected to fall further to the next round support level 163.85 ..read more

– EURUSD reversed from resistance level 1.0685 – Likely to fall to support level 1.0600 EURUSD currency pair recently reversed down from the resistance level 1.0685, former multi-month support from February, acting as the support after it was broken. The downward reversal from this resistance level 1.0685 continues the active minor impulse wave 3 of the higher impulse wave (3) from December. Given the multi-month downtrend, EURUSD can be expected to fall further to the next round support level 1.0600 ..read more

– WTI reversed from resistance zone – Likely to fall to support level 80.00 WTI crude oil recently reversed down from the resistance zone lying between the resistance level 86.00, upper daily Bollinger Band and the resistance trendline of the daily up channel from December. The downward reversal from this resistance zone started the active minor ABC correction 2. WTI crude oil can be expected to fall further to the next round support level 80.00 (former low of wave (4) from March ..read more

– EURGBP reversed from strong support zone – Likely to rise to resistance level 0.8585 EURGBP currency pair recently reversed up from the strong support zone surrounding the powerful support level 0.8515, which has been reversing the price from last June. This support zone was further strengthened by the lower daily Bollinger Band. Given the strength of the support level 0.8515 and the bearish sterling sentiment, EURGBP can be expected to rise further to the next resistance level 0.8585 (which has been reversing the price from January ..read more

The US dollar is losing 0.2% since the start of the day on Wednesday against a basket of major currencies, signalling traders’ eagerness to lock in some profits after a 2.5% rally over the previous seven days.  Interestingly, dollar fatigue was evident shortly after Powell’s admission that inflation was on a higher trajectory than the central bank expected. The Fed is so far following market expectations, which have changed impressively since 8 March, when a pro-inflationary jobs report turned the dollar higher. The dollar’s upward momentum got a fresh boost after last week’s inflation r ..read more

Market picture  The crypto market avoided sharp moves on Tuesday, showing low volatility over the 24 hours and remaining near $2.3 trillion. The Crypto Fear and Greed Index added 2 points to 67 (greed) by Wednesday. Bitcoin’s share of the entire crypto market capitalisation exceeded 54%, maintaining its upward trend since December 2022. This is the clear impact of the Bitcoin-ETF, but we also note the diminishing enthusiasm for altcoins. The technical picture for Bitcoin is rather worrying, as we saw no rebound after the price drop on Friday and Saturday. On the contrary, the market seem ..read more

– Citigroup falling inside minor impulse wave 1 – Likely to fall to support level 54.80 Citigroup falling inside the sharp minor impulse wave 1 of the intermediate impulse wave (3) from the end of March. The price earlier broke the round support level 60.00 coinciding with the support trendline of the extended up channel from and the 38.2% Fibonacci correction of the upward impulse from February. Given the strength of the active impulse wave 1, Citigroup can be expected to fall further to the next support level 54.80 (former support from February ..read more

– USDJPY under the bullish pressure – Likely to rise to resistance level 156.35 USDJPY currency pair under the bullish pressure after the earlier breakout of the major resistance level 151.80, former yearly high from 2022 and 2023. The breakout of the resistance level 151.80 accelerated the C-wave of the active ABC correction (B) from the start of last year. Given the clear multi-month uptrend and continued US dollar strength, USDJPY currency pair can be expected to rise further to the resistance level 156.35 (target price for the completion of the active C-wave ..read more

Gold has been behaving erratically, having had a positive and negative correlation with global risk appetite in recent days.  On Friday, the price set an all-time high above $2430, losing $100 before the end of that day, nullifying the most furious final part of the rally within four hours. The final sell-off was in unison with the markets’ fall. But on Monday, the pressure in the stock markets intensified again, and gold moved higher.  Neither geopolitics nor fear of interest rate moves explain these shifts. Gold seems to be living its own world, in which geopolitics is used as a c ..read more

Market picture The sell-off in US stock markets affected global risk appetite late on Monday, reversing initial positivity. As a result, crypto market capitalisation fell 5.4% in 24 hours to 2.29 trillion, back near the weekend lows. The market is hovering near the lows of March. This is a key moment in choosing the market’s direction for the coming weeks. A bounce out of this area will allow for the expectation of an early recovery to the recent highs. A dip below would likely trigger a broader liquidation of positions. Bitcoin has returned to the area of the lows of the past seven weeks, co ..read more