On the weekly chart, we can see that Gold has made a four-week push from lows of $1,680/oz  to its current trading price close to $1,790/oz.  However, sentiment may be slightly bearish for Gold at the moment with many indicators  pointing to the price falling.   For one, there is a bearish indicator on the monthly […]

Coinbase’s shares breached a nine-week high and peaked at $101.18 in the first week of  August following the announcement of its partnership with the world’s largest asset manager,  BlackRock.  Shares of the cryptocurrency exchange platform operator had been on the rise and reached the  nine-week high of $80.81 when the market closed Aug. 3. The […]

The Non-Farm Payrolls (NFP) for July 2022 surprised many as it reported that the US economy added  528,000 jobs, more than twice the consensus forecast. Total NFP employment has now returned to the  pre-pandemic level, when 20 million jobs were lost.  At the same time, the US Unemployment Rate decreased to 3.5%, the lowest rate […]

The EUR/CHF pair is currently in between the key levels around 0.97000–0.97900. We might see a  bounce from here up to the next resistance of 0.99500 and even up to the 1.00500 level, in confluence  with the 50 MA.   However, the overall trend for the EUR/CHF is seemingly bearish, and we could potentially see a […]

The US has technically entered a recession in the second quarter 2022 as the economy  contracted 0.9% year over year, following a 1.6% decline in the first quarter. However, the  official body that is tasked to make a call on whether the economy is in a recession has yet to  declare that the US is […]

The US dollar has retreated against its major trading pairs over the past two weeks, but notably, the  USDJPY has seen one of the most interesting pullbacks. After peaking on July 14, the USDJPY has fallen  more than 4% from a peak just below 139.500.  The 2-week weakening streak may continue as the sentiment from […]

The current overall trend for Natural Gas is bearish, as seen from the monthly chart. The commodity has  possibly just completed the 5th wave of the Elliot Impulse Wave, this means that the next movement is  possibly a correction. There is also a divergence as seen in the price action and the RSI Indicator which  […]

Poorer-than-expected business activity surveys are weighing on the market outlook for the US, and with it,  the USD has stalled its climb against its major trading partners.  Fears about growing prices and the possibility of recession caused the dollar index to lose ground last week.  On its way down, the DXY danced on the 106.50 […]

The USDCHF pair has been swinging from bullish to bearish from a weekly perspective on this pair.   It has established strong resistances at 1.00571 to 1.00148, forming a double top as it tried to break  these levels. The double top rejection resulted in the USDCHF pushing back down and bouncing off  0.94907. This price level […]