Since topping at ¥156.77 on 14 May, short-term price action on the H1 chart for the USD/JPY has exhibited a downside bias. Of late, as you can see, recent flow chalked up a pullback from a low of ¥153.60 and has initiated the process of forming the D-leg of an ‘alternate’ AB=CD bearish formation at ¥154.95 (marked by a 1.618% Fibonacci projection ratio). The...
BTC/USD bulls have been making a comeback since forming a low of $56,478 and recently completed an inverted head and shoulders pattern (left shoulder: $59,559; head: $56,478; right shoulder: $60,165). Yesterday’s rally ventured through the pattern’s neckline, a descending line extended from the high of $67,273.
What is interesting from a technical standpoint is...
Ahead of today’s US CPI release, the US Dollar Index is hovering just north of major support coming in at 104.78, and is seen testing the grip of channel support, extended from the low of 105.21. These are important barriers to monitor.
Inflation Expected to Slow
A broad miss in the data today will likely weigh on the US dollar (USD), potentially pushing the...
Upcoming Earnings Release:
NVIDIA Corporation (ticker: NVDA) is scheduled to report earnings on 22 May. The consensus EPS estimate for the fiscal quarter is $5.15. The reported EPS for the same quarter a year prior was $0.88.
Bulls In Control
From the Ichimoku Indicator, you will see that the Leading Span A crossed below Leading Span B, but the thing to...
Upcoming Earnings Release:
NVIDIA Corporation (ticker: NVDA) is scheduled to report earnings on 22 May. The consensus EPS estimate for the fiscal quarter is $5.15. The reported EPS for the same quarter a year prior was $0.88.
Bulls In Control
From the Ichimoku Indicator, you will see that the Leading Span A crossed below Leading Span B, but the thing to...
Sterling ended the week a touch lower versus the US dollar, down -0.2% and snapping a two-week bullish phase. As we enter the second full week of May, the GBP/USD currency pair will be monitored closely ahead of Tuesday’s employment and wage data out of the UK, with technical studies indicating a bearish move could be on the table.
Long-Term Picture
Price...
