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analyst75

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analyst75 last won the day on March 24 2018

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    Azeez
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    Mustapha
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    Tallinex focuses on risk mitigation, leading us to develop proprietary trading technologies. All Tallinex trades are transmitted swiftly and reliably to the world's largest banks through a PrimeXM FX bridge to Integral's FX Grid system, which is optimized for Forex trading. Our clients can therefore benefit from better ECN/STP technology and confidently trade the Forex markets through Tallinex.
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  1. Have you invested in an extremely rare opportunity of a lifetime? The Next “Buzz Word” Altcoins Last month, the Bloomberg Galaxy Crypto Index was at 1414.37, following a low of 217.82 in early March. BTC had made a new high yesterday at $51,630.86. Today (February 17) and the index was at 2,295.61. That’s a huge gain for one month. Let me put this into perspective. In late 2017, I said that cryptoassets were the biggest institution revolution since the Industrial Revolution and that they represented the investment of a lifetime. Institutions, however, were not ready or capable of participating in that revolution so they “pooh-poohed” it. The SEC decided that most altcoins were securities which precipitated a huge bear market. By the end of 2018, cryptos had undergone an 85% decline and BTC hit a low price of $3,236.76 on Dec 15, 2018. But then look what happened. BTC was up 92.71% in 2019 It was up 305.94% in 2020 And it’s up 75.42% in less than 50 days of 2021…. What did I say in 2018? There was actually a period from October through November last year when I made over $3 million in 7 weeks. Cryptos are the investment of a lifetime. While BTC could go up another 10 fold in the long run, I doubt that it will go much over $100,000 this year…. But the opportunity of a lifetime is not over because now the altcoins are starting to move. Here are a few examples, and this is just the movement in 2021. BNB 289% ETH 144% LINK 178% SNX 215% AAVE 397% CND 145% And remember those gains are just from the 48 days of 2021…. You can purchase crypto coins here. Update on Cryptoassets I think that there are a number of altcoins that could go up 10 times or more during the rest of 2021. Now we might have a decline of 40% or more during the year, but it probably will be short-lived with a very quick recovery… BTC was up 92.7% in 2019, 305.94% in 2020, and in the first six weeks of 2021, it’s up 74.22%. Let’s contrast that with the other hedge against the USD and disaster, gold. Gold was up 20.94% in 2019, up 18.32% in 2020, and it’s down 5.1% so far in 2021. The path of safety is now BTC. Gold has about 10 times more market cap than cryptos right now (even though cryptos are now over a trillion for the 1st time). If all of the money in gold went into BTC, BTC’s price would be about $370,000… People talk about BTC being volatile and risky. But where can you find something that has made over 1,000% in 3 of the last 11 years, over 100% in 8 of them, and had only two losing years? There is only one other place than BTC with anywhere near equal performance – other cryptoassets. If you had bought BTC at the beginning of 2012 (well, not at the very beginning), you would have turned $1,000 into more than $7.1 million (up $4.5M last month)… Remember these are 30-day percent gains. This is probably the easiest market possible to make a lot of money. You could, however, just as easily enter a position and immediately have a 25% drawdown – which could cause you to exit and then miss out on some nice gains. If you don’t have strong beliefs about cryptos like I do, crypto volatility will test you… This newsletter makes no recommendations about cryptos but is a free service… I personally own positions in most of the cryptos mentioned in this newsletter. Author: Van K. Tharp, PhD Source: https://learn2.trade
  2. GBP/USD Sustains Upside Momentum, Reaches the High of 1.4025 Key Resistance Levels:1.4200,1.4400,1.4600 Key Support Levels: 1.3200, 1.3000, 1.2800 GBP/USD Price Long-term Trend: Bullish GBP/USD had been in an uptrend since September 2020. The price has been making a series of higher highs and higher lows. Today, the pair is trading at level 1.4025 at the time of writing. The RSI has indicated that price has reached an overbought region of the market. Therefore, the upward move is doubtful in the interim. GBP/USD – Daily Chart Daily Chart Indicators Reading: The 21-day SMA and the 50-day SMA are sloping upward indicating the upward move. The pair has risen to level 72 of the Relative Strength Index period 14. This indicates that the Yen is in the uptrend zone and above the centerline 50. GBP/USD Medium-term Trend: Bullish On the 4-hour chart, the pair has been in an upward move. On February 19 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The Yen is likely to rise to level 1.618 Fibonacci extensions or the high of level 1.4089. GBP/USD – 2 Hour Chart 4-hour Chart Indicators Reading The GBP/USD pair is currently above the 40% range of the daily stochastic. It indicates that the pair is in a bullish momentum. . The SMAs are sloping upward indicating the uptrend. General Outlook for GBP/USD The GBP/USD is in an uptrend. The price has been consistently rising on the upside. According to the Fibonacci tool analysis, the market will rise to level 1.618 Fibonacci retracement level. Source: https://learn2.trade
  3. USD/CAD Retests Level 1.2740, Resumes Downward Key Resistance Levels: 1.4200, 1.4400, 1.4600 Key Support Levels: 1.3400, 1.3200, 1.3000 USD/CAD Price Long-term Trend: Bearish The Loonie is on a downward move. The downtrend was a result of the rejection at 1.2850 High. The pair fell to level 1.263 and corrected upward. The upward correction also faced another rejection at 1.2750. Nonetheless, the selling pressure will resume if the price breaks below level 1.2600. However, since January, the bulls are yet to break level 1.2600. USD/CAD – Daily Chart Daily Chart Indicators Reading: The 50-day and the 21-day SMAs are sloping downward indicating the downtrend. The Loonie has fallen to level 46 of the Relative Strength Index period 14. The pair is in the downtrend zone and below the centerline 50. USD/CAD Medium-term Trend: Bullish On the 4-hour chart, the pair is making a brief uptrend. On February 16 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. This retracement indicates that the pair will rise to level 1.272 Fibonacci extension and reverse. That is at the high of level 1.2746 the market will reverse and returned to 78.6% Fibonacci retracement level. USD/CAD – 4 Hour Chart 4-hour Chart Indicators Reading Presently, the SMAs are sloping southward indicating the downtrend. The Loonie is in the oversold region above the 25% range of the daily stochastic. Buyers are likely to emerge. General Outlook for USD/CAD The USD/CAD has resumed a downward move after retesting level 1.2750. The Fibonacci has indicated a downward movement of the pair. The price action has confirmed the Fibonacci level as price resumes downward. Source: https://learn2.trade
  4. Silver Price: XAGUSD Stays Optimistic Under $28.00 As Bulls Gather Traction XAGUSD Price Analysis – February 16 Silver (XAGUSD) price continues to range within the $27.00 to $28.00 region as buyers support the prospect for a move beyond the $28.00 and on the other hand, sellers need to refresh monthly low for entries. Silver is currently trading at $27.05 per ounce, representing a 0.50% loss on the day. Key Levels Resistance Levels: $30.00, $28.90, $27.92 Support Levels: $26.77, $26.00, $25.00 XAGUSD Long term Trend: Ranging XAGUSD bulls attempted to crush January 6, 2021, old barrier around the $27.95 zone but retreated to the $26.83 level. As a result, the quote’s further upside may be challenged by a psychological horizontal line at the $27.50 level. However, if the trend stays toward breaking past $28.00 marks, the monthly peak surrounding $30.00 will be the next target. Alternatively, a downside breach of the immediate support line, currently around $26.77 level, may take silver prices towards the low level at $26.00. However, any further weakness needs to break the yearly low of $24.01 to invalidate the XAGUSD bullish run-up. XAGUSD Short term Trend: Ranging Silver’s price has staged a major technical pullback after finding resistance at the psychological $30.00 level. However, on the one hand, the price for XAGUSD could likely be pushed down by the MA 5 crossing the MA 13 lower in the $27.07 range towards the $26.00 range. Meanwhile, the rate could gain support at the $26.77 horizontal level. And from the other hand, the white metal could likely gain support from the lower level near $26.00 in the event of a plunge. Thus, some upside potential could prevail in the market during subsequent sessions. Source: https://learn2.trade
  5. An important factor that determines your profitability (it’s not what you think) When traders are looking for ways to become consistently profitable, they, sadly, tend to consider the wrong factors and looking for solutions in the wrong places. Yes, factors like hit rates, risk-to-reward ratios, risk control, etc. are very important to your career as a trader. Nonetheless, there is an important factor that determines your profitability, and it’s not what you think. Know when not to trade Yes, you need to know when to be in the markets and when to stay out of the markets. There are times when it is profitable to be in certain markets, and there are times when it is suicidal to be in such markets. For example, it is far easier to make money in bullish crypto markets, especially when Bitcoin and most other altcoins are trending upwards protractedly. During this period, traders and investors are richly rewarded. But when Bitcoin and other altcoins begin a bearish movement that holds out longer than what most people anticipate, both traders and investors suffer, as profitability dwindles. An apt example is what happened in 2018. When FX markets are trending strongly, all counter-trend strategies will perform poorly. When the markets are quite choppy, trend-following strategies will fail. That is why you need to understand the kind of trading system you are using and the market type you are currently engaged in. There is no strategy that can work in all market conditions: You either develop different strategies to deal with a bull market, consolidating markets, etc. If you cannot do this, then you need to stay out of the market which is not favorable to your trading system. An impatient trader can be sliced up in the market that threatens to plummet, but which fails to do so. You don’t need to be in a particular market always Some people think trading is hard, and they are somewhat correct because no-one knows what the market will do next. You may think it will go in a certain direction and you will be right. Sometimes, you may think it would go in a particular direction and you will be proven wrong. Know when to trade and when not to trade. Your profitability is largely determined by how many losses you are able to avoid. Did you sustain some losses in the past? Think of how profitable you would be now if you had been able to avoid those losses. Think of it: The more losses you have, the more your equity goes down. If you were able to avoid those losses, your equity would be saved from going down. Even when your hit rate is not very high, you will be able to go ahead by avoiding more and more losses. There are many factors that determine a great football team, and one of the factors is the ability to concede very few goals. The fewer goals a team concedes, the better their chances of survival. The more goals they concede, the worse their chances of survival. When a team is too desperate to win, they may charge and attack vigorously, while their defense becomes porous and vulnerable, and the opposing team may take advantage of that vulnerability. You shouldn’t be too desperate to make profits, to the extent that you constantly find yourself in unfavorable market conditions and you take more sub-optimal trades based on poor setups, therefore scuttling your chances of profitability. I have found ways to know when a particular market condition is favorable to my trading methodology and I take advantage of that. I have found ways to know when a market is no longer favorable to my trading method and I stay out of the market while looking for opportunities elsewhere. What about you? This piece is ended by the quote below: “… If there was a game that mimicked trading it would be golf. A golf game is won by the person who makes the fewest catastrophic error and whose management of their internal game is superior to others. Incremental gains count.” – C. Tate Source: https://learn2.trade
  6. AUDUSD Upside Run Holds Steady Past Mid 0.7700 Level As Risk-On Mood Undermines USD AUDUSD Price Analysis – February 11 After it rebound from the prior week low at 0.7563 level, the AUDUSD pair has benefited from a sustained move past the MA 5 and 13 at the 0.7700 regions. The pair’s upside run continues to hold steady past the mid 0.7700 level as the underlying bias of a risk-on mood undermines the US dollar. Key Levels Resistance Levels: 0.8075, 0.7980, 0.7800 Support Levels: 0.7650, 0.7557, 0.7461 AUDUSD Long term Trend: Ranging The AUDUSD pair regained bullish traction on Thursday and reversed the prior day’s modest losses. The constructive outlook is reinforced by the bullish relative strength index on the daily charts. That said, bulls might still need to wait for some follow-through buying beyond the swing highs, around the mid 0.7700 regions, before placing new buy orders. Above the mentioned hurdle, the AUDUSD pair seems all set to build on its recent appreciating move and aim back to reclaim the 0.7800 marks. On the flip side, the 0.7650 regions might continue to act as immediate support and are closely followed by the 0.7700 marks. A convincing break below the latter might prompt some technical selling and accelerate the slide further towards the 0.7557 horizontal support. AUDUSD Short term Trend: Ranging As observed on the lower time frame, following the 0.7650 minor support intact, a sustained surge is anticipated in AUDUSD for 0.7800 resistance level. The continuous breach there may continue the total uptrend from 0.5506 level. Meanwhile, the next near term goal is a 61.8% forecast of 0.7000 to 0.7800 levels from 0.7557 at 0.8075 levels. On the flip side, the breach of 0.7650 minor support level may delay the bullish scenario and extend the correction from 0.7800 level. Source: https://learn2.trade
  7. Dogecoin Price Analysis — February 5 Dogecoin (DOGE/USD) saw an overnight rally of about 80%, indicating that Wall Street Bet’s crypto division still has plans for the cryptocurrency. Dogecoin came into the limelight following a 900% pump on January 28, which catapulted the meme cryptocurrency to rank as the tenth-largest cryptocurrency based on market capitalization for the first time since 2015. As the massive rally began to lose momentum, many traders rapidly cleared their profits, as it looks like the investors are now looking for something else to invest in. The spike was originally sparked when exchanges restricted traders from acquiring more AMC and GameStop stocks on January 28, prompting the Reddit investors to seek other investment alternatives like silver and some “cheap” cryptocurrencies. On January 28, the Twitter user “WSB Chairman” tweeted to his 750k followers, saying “has Doge ever been to a dollar?” This question sparked a massive rally in DOGE, despite the crypto having no protocol upgrades since 2015. Several social media influencers were very discontent with buying the top of the rally, indicating that the speculative frenzy has ended. It is almost impossible to pinpoint the exact reason for the spikes, considering that there are several social networks, especially private Telegram groups and trading signal apps, actively participating in the price action. That said, measuring social media activities could become the norm for speculation. DOGEUSD – 4-Hour Chart Key DOGE Levels to Watch — February 5 DOGE/USD appears to have gone into consolidation between $0.0450 and $0.0350, as its bullish momentum loses steam. The cryptocurrency’s recent price action has formed a triangle pattern, indicating that a spike (to either direction) is just around the corner. That said, we expect a retrace to the $0.350 supporting the coming hours, where a rebound to the $0.0500 round figure and higher will likely occur. Meanwhile, our key resistance levels are at $0.0450, $0.0500, and $0.0600. While our key support levels are at $0.0350, $0.0270, and $0.0220. Total Market Capitalization: $1 trillion Dogecoin Market Capitalization: $4.7 billion Dogecoin Dominance: 0.47% Source: https://learn2.trade
  8. Polkadot Price Analysis — February 2 21Shares, one of the world’s largest cryptocurrency exchange-traded products (ETPs), is releasing the very first Polkadot (DOT) ETP. The company announced earlier that the new product might get listed on the Swiss SIX exchange on February 4, 2021. The new ETP is coming just after Polkadot got added to 21Shares’ top ETP product Crypto Basket ETP (HODL) on January 29. HODL, which tracks five top cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), has now removed Bitcoin Cash (BCH) from its listings and is replacing it with Polkadot as the second-largest constituent after Bitcoin. According to a report from MVIS Indices, Polkadot now makes up 27% of all ETP, while BTC accounts for about 50% of the product. According to a 21Shares spokesperson, the company has no say in the addition or removal of assets from the HODL ETP. The spokesperson noted that this responsibility is reserved for MV Index Solutions. 21Shares noted that the addition of Polkadot to its Crypto Basket ETP makes it the “perfect timing to add single asset ETP to the already wide range of crypto ETPs” offered. CEO of the company, Hany Rashwan, asserted that the company remains devoted to fulfilling the demand seen from institutional investors. DOT is a next-generation blockchain protocol, linking several specialized blockchains into one network. A few days ago, the cryptocurrency surpassed Ripple (XRP) as the fourth-largest crypto based on market cap. However, XRP has since reclaimed the spot. At press time, DOT is trading up by about 80% in its year-to-date high. DOT – 4-Hour Chart Key DOT Levels to Watch — February 2 Polkadot has been range-bound for the past few days between the 17.66 resistance to the 15.70 support. The cryptocurrency attempted another go at the 17.66 resistance some hours ago but failed to break above, once again. That said, DOT could continue on its range-bound momentum in the coming days, considering that volatility is beginning to fade. Nonetheless, a fall below 14.80 seems very unlikely in the meantime, indicating that Polkadot could remain in its 17-day range between 18.90 and 14.80. Meanwhile, our key resistance levels are at $17.66, $18.42, and $18.90. While our key support levels are at $16.44, $15.70, and $14.80. Total Market Capitalization: $1.06 trillion Polkadot Market Capitalization: $2.49billion Polkadot Dominance: 0.23% Source: https://learn2.trade
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  10. Gold Price Analysis — January 29 Gold (XAU/USD) maintained its bearish tone through the early European session on Wednesday and was last spotted trading around the $1845 area. The bearish momentum was solely sponsored by a goodish uptick in the US dollar, which tends to undermine demand for the dollar-denominated commodity. The greenback saw a fresh influx of demand amid doubts over the timing and size of the newly proposed US stimulus bill. That said, the prevalent cautious mood surrounding the equity markets has capped further declines for the precious metal in the meantime. Market mood is currently being suppressed by the growing worries over an economic fallout from the COVID-19 pandemic and the escalating US-China tensions in the South China Sea. Meanwhile, the lower risk appetite bolstered a softer tone around the US Treasury bond yields, which extended additional support to the non-yielding metal. Also, market participants appear to be avoiding placing aggressive bets ahead of the FOMC monetary policy decision scheduled for release later today. This event, coupled with the release of US Durable Goods Orders data and developments surrounding the coronavirus pandemic, will be looked upon for market clues today. This makes it advisable to wait for a sustained move to the downside before placing aggressive bets. XAUUSD – Hourly Chart Gold (XAU) Value Forecast — January 29 XAU/USD Major Bias: Sideways Supply Levels: $1860, $1875, and $1890 Demand Levels: $1838, $1827, and $1818 Gold has traded on a directionless bias over the past few days, following several failed attempts to reclaim dominance above the $1875 pivot area. However, the safe-haven asset has also fought against a sustained descent below the $1838 support, putting it in a consolidated range. Depending on the outcome of the FOMC meeting later today, gold could finally breach the $1838 support and head towards lower support levels. Source: https://learn2.trade
  11. USD/CAD Is in an Oversold Region as Buyers Are Likely to Emerge Key Resistance Levels: 1.4200, 1.4400, 1.4600 Key Support Levels: 1.3400, 1.3200, 1.3000 USD/CAD Price Long-term Trend: Bearish The Loonie is likely to continue its downward move. The recent upward move has been repelled by the 21-day SMA. Presently, the pair is falling and has fallen to the low of 1.2690. The loonie may reach the low of 1.2620. USD/CAD – Daily Chart Daily Chart Indicators Reading: The 50-day and the 21-day SMAs are sloping downward indicating the downtrend. The Loonie has fallen to level 43 of the Relative Strength Index period 14. It is below the centerline 50. A further downward move is likely. USD/CAD Medium-term Trend: Bearish On the 4-hour chart, the pair fell as the uptrend reaches the high of 1.2799. In the last 48 hours, the downward move has persisted. The overall trend has been bearish. The pair may resume upward if the price falls and reaches the low of 1.2620. USD/CAD – 4 Hour Chart 4-hour Chart Indicators Reading Presently, the SMAs are sloping northward indicating the uptrend. The Loonie has fallen below the 20% range of the daily stochastic. It is in a bearish momentum. The pair is still in the oversold region of the market. Buyers are likely to emerge. General Outlook for USD/CAD The USD/CAD is likely to continue its downward move as price faces rejection at the recent high. The price sometimes fluctuates as the market continues its downward move. In the previous price action, the pair fell and rebounded above 1.2650 on January 14. Source: https://learn2.trade
  12. GBPJPY Attempts Upside Advance Beyond 142.33 Level on UK’s Vaccine Rollout Optimism GBPJPY Price Analysis – January 20 GBPJPY’s upside march attempts to advance beyond the 142.33 level with a strong impulse to test the higher barrier at 142.71 level. The optimism about the UK’s vaccine campaign and lower cases is strengthening the case for stability in Pounds Sterling. Key Levels Resistance Levels: 147.95, 144.95, 142.71 Support Levels: 140.31, 137.00, 134.40 GBPJPY Long term Trend: Bullish The GBPJPY pair has already rebounded from the weekly low of 140.35 to 142.33 levels as of today’s session and may lift further. Nonetheless, the horizontal resistance level currently around 142.26, followed by the 142.71 thresholds, challenges the GBPJPY bulls. However, bears are less likely to enter unless witnessing a clear breach beneath the moving average 13 around 141.00 level. In the larger context, the increase from the 123.99 level is seen as an advancing phase of the sideway range trend from the 122.75 (low) level. As long as the 147.95 resistance level holds, an eventual downside breakout stays in consideration. Nevertheless, the eventual breach of 147.95 may increase the likelihood of long term bullish reversal. GBPJPY Short term Trend: Bullish GBPJPY edged higher to 142.25 level last week but upside traction has been very unconvincing. Meanwhile, a sustained increase is mildly in support as long as the 140.31 support level stays intact. The present recovery from 133.04 level may aim for a test on 142.71 high level. On the downside, however, the breach of 138.00 level may argue that the trend from 142.71 level is starting another falling phase. Intraday bias may be altered back to the downside for 134.40 support level and beneath. Source: https://learn2.trade
  13. XRPUSD Is Ranging Within $0.28 and $0.21 Levels, Awaiting a Breakout XRP/USD Market January 06 An increase in the bears’ pressure may penetrate the $0.21 level; the price may decrease further to $0.17 and $0.10. In case the support level of $0.21 holds, the price may reverse and the resistance levels of $0.28, $0.39, and $0.49 may be tested. Key Levels: Resistance levels: $0.28, $0.39, $0.49 Support levels: $0.21, $0.17, $0.10 XRP/USD Long-term Trend: Ranging XRPUSD is on the ranging mode in the daily chart. The coin is range-bound within the resistance level of $0.28 and the support level of $0.21. XRPUSD started the ranging movement on December 30. The bears made an attempt to break down the support level of $0.21 failed due to low bearish momentum. Today, the bears try to penetrate the resistance level of $0.28 but the level holds and the price could not break it up. Ranging movement will continue until there is a breakout. XRPUSD Daily chart, January 06 XRPUSD is struggling to breakout at the two key levels but the levels hold the price. An increase in the bears’ pressure may penetrate the $0.21 level; the price may decrease further to $0.17 and $0.10. In case the support level of $0.21 holds, the price may reverse and the resistance levels of $0.28, $0.39, and $0.49 may be tested. However, the price retains its trading below 9 periods EMA and the 21 periods EMA, the former is below the later. The relative strength index period 14 is at 25 levels bending up to indicate a buy signal. XRP/USD Medium-term Trend: Ranging On the medium-term outlook, XRPUSD remains in the ranging mode. The bears’ momentum and the bulls’ momentum are at equilibrium within the $0.28 and $0.21 levels. The support level of $0.21 is resisting the bears. The bears lose their momentum and the bulls’ pressure is equally weak. The price results in consolidation within $0.28 and $0.21 price levels. XRPUSD 4 hour chart, January 06 The fast-moving average is interlocked with the slow-moving average. The price is hovering over the 9 periods EMA and 21 periods EMA which indicates that consolidation is ongoing. However, the relative strength index period 14 is bending up at 60 levels to indicate a buy signal. Source: https://learn2.trade
  14. Litecoin (LTC) Resumes Upward Move as Bulls Buy the Dips Key Highlights Litecoin slumps to $121 low and resumes upward The altcoin will further decline to $73 if the support at $120 cracks Litecoin (LTC) Current Statistics The current price: $144.63 Market Capitalization: $9,613,048,370 Trading Volume: $12,189,426,086 Major supply zones: $120, $140, $160 Major demand zones: $90, $70, $50 Litecoin (LTC) Price Analysis January 12, 2021 Litecoin has fallen to $120 low as the coin resumed its upward move. The crypto has fallen into the previous range bound zone of $120 and $140. LTC will retest the $180 resistance if the bulls clear the $140 and $170 minor resistance levels. On January 10, Litecoin was repelled as the bulls attempt to break the $180 resistance level. Meanwhile, the crypto has resumed upside momentum as the market reaches the high of $146. LTC/USD – Daily Chart Litecoin (LTC) Technical Indicators Reading After the breakdown, the LTC price broke above the SMAs which suggested an upward movement of the coin. The crypto is at level 51 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand. LTC/USD – 4 Hour Chart Conclusion Litecoin has fallen to $120 low as the current support holds. This has propelled the price to rise on the upside. However, if the $120 support fails to hold, the Fibonacci tool price prediction will hold. On January 11 downtrend; a retraced candle body tested the 61.8%Fibonacci retracement level. The retracement indicates that the crypto will reach level 1.618 Fibonacci extensions or the high of $67.40. Source: https://learn2.trade
  15. Gold Price Analysis — January 6 Gold (XAU/USD) traded on a sideways pattern in the early European session on Tuesday, as the commodity struggled to capitalize on its bullish momentum from the previous two sessions. It appears that the market has begun pricing in the possibility of a Democratic win in the crucial US Senate runoff elections in Georgia. The final election results will not be out until the end of today, albeit with the increasing likelihood of a Democrat-controlled Senate. A Democrat-controlled senate will give President Joe Biden easier access to his preferred economic policies, including additional—and possibly larger—stimulus measures and infrastructure projects. This possibility has caused the US dollar (DXY) to come under immense pressure, thereby extending further support to the dollar-denominated commodity. Also, the prospects of stricter regulations for large tech companies—and the industry as a whole—caused the Nasdaq futures to slide by nearly 2%, which bolstered gold even further. Meanwhile, the 10-year US Treasury yield rose beyond 1% for the first time since March on the expectations of larger government borrowing. This rise is probably the only factor capping gains for the non-yielding metal. Also, investors are hesitant to place any aggressive bets ahead of the FOMC minutes scheduled for later today. In the meantime, the greenback’s price dynamics and the broader market risk sentiment will provide trading opportunities for the precious metal. XAUUSD – 4-Hour Chart Gold (XAU) Value Forecast — January 6 XAU/USD Major Bias: Bearish Supply Levels: $1950, $1965, and $1980 Demand Levels: $1920, $1907, and $1900 At press time, gold appears to be stalling near the top of our ascending channel as bullish momentum dwindles. That said, we expect a sharp price correction in the near-term to the lower-$1900 area. Our 4-hour MACD indicator pronounces the impending correction even better, as the commodity retreats from overbought territories. Source: https://learn2.trade
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