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USD/JPY continues to appreciate against the Japanese Yen as we have seen a lot of bullish pressure throughout this week. At the moment, it looks like the price will continue to struggle towards the 150 yen level, but it may take some time to reach that point. Short-term pullbacks continue to provide buying opportunities, and we are a bit overboard, so don’t be at all surprised if more traders continue to be motivated to participate in the market following the initial pullback.
EUR/USD has fallen sharply throughout this week, but was pushed back a bit on Thursday and Friday at the 1.05 level. All things being equal, I think there is an opportunity to short this market every time it goes up, and if it falls below the 1.05 level, it is very likely that this market will fall to the parity level. think. The 1.0250 level is also an area that many people are paying attention to. Pay special attention to the 50-week EMA during the rally.
The gold market has collapsed this week and now appears to be racing towards the $1800 level. I have no interest in trying to buy gold. Because I think it’s probably only a matter of time before this market breaks out towards the $1800 level. In a short-term bull market, I’m selling at the first sign of depletion as gold continues to be pushed down by interest rates, but the size of this candlestick indicates that something has just broken. It shows that.
The West Texas Intermediate crude oil market rebounded relatively quickly this week, but it initially soared. This shows that we’re a little bit overextended, so I think it makes some sense for this market to pull back a little bit. This pullback should ultimately turn into a good buying opportunity as there are serious supply and demand issues. If we break above the candlestick high, there is a strong possibility that we will head towards the $100 level.
GBP/USD was initially felt during the trading week but is about to rebound a bit. It’s oversold at the moment so I wouldn’t be surprised at all if GBP moves up a bit, but I’d keep an eye on the 1.2350 level as the main resistance barrier. Alternatively, if the price breaks below the bottom of the candlestick, there is a possibility of a fall to the 1.1850 level below. This is a large, round, psychologically important area, and one where you will find a lot of support. Before. Keep in mind that the Federal Reserve is still very tight and that is weighing on us here.
The Nasdaq 100 was all over the place this week, which is not surprising considering it was the last week of the month. Frankly speaking, I think we are in a situation where many “month-end price increases” are on the horizon, and there is a high possibility that we will see some rebound. Technically no bullish flag has been raised, but we can argue about it at this point. I’m not necessarily excited about the US economy, but there is some “herdthink” in this market as traders continue to buy all the top stocks again.
Although the Nikkei Stock Average turned negative this week, the overall situation remains very flat. At this point, I think it’s likely that things will continue to reverse. It is perhaps worth noting that US trading ends with a sudden uptick and usually Asians prefer to enter the market and reverse the situation. If that happens, I think we will see a rebound towards the 33,000 yen level in the next 1-2 weeks. If the price breaks below the 31,400 yen level, I think there is a possibility of a fall to the 50-week EMA. .
The US dollar strengthened significantly against the Swiss franc during the trading week, breaking through short-term resistance. At the moment I think we are probably in a period of a bit of a pullback, but I think it is only a matter of time before the buyers come back and push the USD towards the CHF 0.94 level in the coming weeks. I have no interest in shorting this market, at least as long as the Federal Reserve maintains this type of market.
