Buyers have encountered difficulties in resuming the upward impulsive movement. Their hesitation was exploited by their counterparts, leading to another step down on the descending path. This price movement aligns well with the expected development of the correction, likely taking the form of a double zigzag in wave 2. In this scenario, the price may…
Concerns that the correction was not yet complete have been fully justified. The price, failing to start an upward movement, plummeted sharply. Now, the wave pattern looks more like a reasonable correction. Buyers now need to manage to pull out of this steep decline; otherwise, serious problems could arise later. There is still a chance…
No significant changes occurred during the last trading day. Following a fairly active decline, the market entered a relative lull, likely due to the development of corrective wave 4. If this is indeed the case, we may soon see an attempt to rise, which will likely fail. The price will then resume its decline and…
The NZDUSD price provided positive trades yesterday and approached the waited target at 0.6000$, waiting to gather new positive momentum to assist to push the price to rise again, noting that breaching this level will push the price towards 0.6070$ as a next positive target. On the other hand, we should note that breaking 0.5915$…
Market capitulation occurs when investors collectively surrender to market fears, leading to a sharp decline in asset prices. This article delves into the mechanics of capitulation, how to identify it, and ways to trade effectively during these tumultuous times. Understanding Market Capitulation Market capitulation refers to a phenomenon where a large number of investors simultaneously…
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Are U.S. equities in for a major selloff soon? Better keep tabs on this reversal pattern forming on the 4-hour chart of the S&P 500 index. S&P 500 Index (SP500) 4-hour Chart by TradingView U.S. stock markets still seem to be feeling the brunt of the tech sector selloff, as investors continue to doubt that…
Bybit, one of the top cryptocurrency exchanges in terms of trading volume, announced yesterday (Thursday) that it will terminate its products and services for French nationals and residents. The exchange cited “recent regulatory developments” by the country’s regulator behind its decision. Close-only to Liquidation The official announcement detailed that the exchange will restrict the accounts…
Investing.com– Most Asian currencies moved in a tight range on Friday as growing risk-aversion in global financial markets sparked some safe haven flows into the dollar, while markets awaited key nonfarm payrolls data for more cues. The Japanese yen, however, remained steady after a hawkish Bank of Japan sparked a rally in the currency this…
SYDNEY (Reuters) – The Australian dollar was pinned near three-month lows on Friday as weak U.S. data fuelled fears of a sharp slowdown in the world’s largest economy, sending investors to the embrace of the safe-haven yen and Swiss franc. The held at $0.6501, having fallen 0.5% overnight to just above a three-month low of…