The_STA

The_STA

I know we have non-farm payrolls tomorrow, but in my view, the US 10-year yield is telling a powerful story on the charts. On the daily chart, the yield has broken into 2-month lows and fallen back below the 4.35% February peak, indicating potential near-term weakness. The weekly chart shows a recent clear failure at the previous uptrend, suggesting that...

The_STA

I couldn't help but notice the 9-year downtrend on the monthly GBP/CHF chart around the 1.1630 level. The pair is struggling here, and a breakdown seems likely, suggesting potential Sterling weakness. This observation supports the idea that EUR/GBP is likely to bounce off the .8498 support level. It's crucial to check your long-term charts and other crosses. Do...

02:02

The_STA

This morning, the EUR/GBP cross is beginning to erode the 0.8492 lows that have held since August 2022. This level is vulnerable, and directly below it lies the 200-month moving average (MA) at 0.8434. However, we believe the GBP/USD chart is more critical. The pair is pushing hard into the 16-year downtrend and the 55-month MA at 1.2850. Additionally, there is...

The_STA

I took a look at the weekly gold/silver ratio and noticed a few significant patterns. For example, there was a notable acceleration downward following the break of a 3-year uptrend a couple of weeks ago. Additionally, there is support at the 74.65/63 level, which has been in place since January 2022. This observation reminded me of the importance of examining...

The_STA

In our recent update on the Nasdaq, we noted that the market had bounced smartly off a previous peak of 16,765, the 2021 high. The Nasdaq is now reaching new highs, and I'm working to identify a potential target zone. On the weekly chart, there is a parallel resistance line from the 2023-2024 uptrend, which is around 19,400 (see weekly chart). On the monthly...

01:22

The_STA

The Amazon chart is showing several concerning signs. Although Amazon recently reached a new all-time high, this achievement wasn't supported by the daily Relative Strength Index (RSI), indicating a clear divergence on this indicator. This divergence suggests a loss of upside momentum at a critical juncture - namely around the 2021 peak at 188.65. Additionally,...

The_STA

Gold might not seem too exciting right now—it's been moving sideways without much direction. However, when you check the weekly chart, you'll notice something interesting. The past 6 weeks of sideways movement actually appear to be a consolidation phase above the previous range, suggesting that the market is poised for an upward breakout. I'm focusing on the...

01:37

The_STA

We suspect that the US 10Y yield chart has topped short term having tested and again failed at its previous uptrend at 4.74 (which is now acting as resistance) . Please see the weekly chart. This throws the spotlight on key nearby support where we find a short term uptrend, last week's low, the 55-day ma and the 200-day ma together with a previous high all...

The_STA

A key week reversal is a significant signal indicating a potential trend reversal. This pattern is identified by a large weekly price range that completely engulfs the range of the previous week. Additionally, the closing price of the key week is below that of the previous week. In the context of USD/JPY, the failure near the historical peak of 160.40 from 1990,...

The_STA

I'd like to highlight that the Nasdaq has experienced a notable rebound from its December 2023 peak of 16,969 (with a recent low of 16,973) and appears to have undergone a decent corrective move lower. This raises the question of whether the correction is now complete. In my assessment, it seems likely that the correction could be over. Nevertheless, it's always...

02:42

The_STA

The dollar surged to a new 34-year high against the yen on Friday, supported partly by U.S. inflation data that matched forecasts and reinforced expectations that the Federal Reserve will likely postpone interest rate cuts until later this year. The upward breakout appears highly decisive, and I'm examining long-term charts to gauge the potential market movement...

The_STA

Bitcoin - continuation pattern or a top? Determining whether the pattern is a continuation or a top pattern can be challenging. One signifies a bullish trend while the other indicates a bearish trend, and we find ourselves amidst a 4-week range on the bitcoin chart. So, how do you proceed? To analyse the situation, I typically examine the chart across various...

The_STA

The downward trend for the S&P is picking up speed. We'd like to emphasize the significance of the resistance line we mentioned a few weeks ago. We cautioned about the combination of this resistance line and the divergence of the daily RSI, signalling potential trouble for the market. As anticipated, the market has indeed sold off. Initial support rests at the...

The_STA

I find the chart on HSBC interesting. Last year, we witnessed the market break a significant downtrend that had been in place since 2007. Currently, it appears we are on the verge of completing a symmetrical triangle pattern. Considering the market's support from its 200-week moving average and the weekly cloud, and taking into account the previously broken...

The_STA

Stocks experienced a notable uptick yesterday. On the daily S&P chart, there's a resistance line connecting the year's highest points. This line currently stands at 5260, serving as our near-term target and acting as a significant barrier today. Notably, it has effectively halted upward movements in the past four attempts. N.B. definition of a resistance line A...

The_STA

Analysing the US 10-Year Treasury Yield: Fed Meeting Focus and Key Resistance Levels Market attention is currently fixated on the upcoming two-day Federal Reserve meeting scheduled for Tuesday and Wednesday. The expectation is for the Fed to maintain interest rates at their current level, with investors closely monitoring any updates to economic projections and...

The_STA

The market is eagerly anticipating the release of non-farm payrolls, projected to grow by 198,000, compared to January's increase of 353,000. A lower-than-expected figure could potentially push the EUR/USD pair higher, as the market has been on a steady ascent since mid-February. Currently, it has surpassed the 55 and 200-day moving averages at 1.0873/33, which...

The_STA

US stocks hit a record high on Friday, driven by strong performance in artificial intelligence companies like Nvidia. However, caution is warranted as the Nasdaq shows signs of losing upward momentum, with daily and weekly RSI indicating divergence. This week, markets will be closely watching inflation data, including euro zone consumer confidence, business...