Recent content by Solid ECN

Ethereum's Butterfly Pattern: Key Support Levels Solid ECN—Ethereum formed a butterfly pattern in the daily chart. As of writing, the ETH/USD pair is testing the 100-period simple moving average, while the stochastic oscillator is approaching the overbought territory on the 4-hour chart...

Bitcoin Bat Pattern: Key Price Levels Explained Solid ECN—Bitcoin’s 1-hour chart formed a bat pattern, testing the ascending trendline at approximately $58,700. The bullish outlook should be invalidated if the price dips below the ascending trendline. In this scenario, the decline will likely...

Gold is Overpriced in Short-term Solid ECN—The gold price is overbought, testing the August 2 high at $2,477. The primary trend remains bullish, as the price is above the 50 and 100-period simple moving averages. However, we expect the price to dip and test the July 17 low at $2,451 before...

Gold Holds Steady as Markets Await Key US Inflation Data Solid ECN—Gold prices held steady around $2,440 per ounce on Monday as investors awaited key US inflation data later this week, which could provide insight into the Federal Reserve's next moves on interest rates. Many still expect the...

WTI Crude Rises Amid Middle East Tensions Solid ECN—WTI crude oil futures climbed to around $77 per barrel on Monday, marking the fifth consecutive day of gains. The rise is mainly due to ongoing supply concerns amid rising tensions in the Middle East. Over the weekend, reports surfaced that...

EUR/USD at $1.09: Key Factors Impacting the Market Solid ECN—The Euro remained steady at $1.091 after reaching a seven-month high of $1.091. Traders are carefully analyzing the monetary and economic outlook. Poor economic data from the US has sparked fears of a significant slowdown or a...

USD/CAD Poised for Potential Rebound Solid ECN—The USD/CAD pair recently declined from 1.394, testing the 100-period simple moving average (SMA) at 1.3786. As of this writing, the price is experiencing a pullback from the critical 1.378 support level. Meanwhile, the immediate resistance stands...

GBP/USD: Downtrend Resumption Ahead? Solid ECN—The GBP/USD pair is in a bear market, trading below the 50 and 100-period simple moving averages. As of this writing, the price of the currency pair is stabilizing below the July 3 high of $1.277. From a technical standpoint, the bear market is...

Oil Prices Test $72.6 Supply Zone Solid ECN—Oil prices dipped below the $75.1 support level, testing the $72.6 supply zone. The bearish pressure on the WTI Crude Oil price drove the stochastic oscillator into the oversold territory. From a technical standpoint, we expected the price to...

WTI Crude Oil Bounces from $76.7 Solid ECN—The oil price dipped to $75.7 after breaking $78.1 with a long bearish candlestick. Currently, the price is bouncing from the key resistance at $75, while the awesome oscillator has flipped below the signal line. There is no significant pattern on...

Bulls Eye $2,483 as XAU/USD Uptrend Resumes Solid ECN—Gold is in a bull market, testing the July 17 low at $2,451 as resistance. The technical indicators suggest the market is oversold, and the price might consolidate before the uptrend resumes. However, the bears have tested the July 24 high...

WTI Crude Oil Hits Key Resistance Solid ECN—WTI Crude Oil price reached the $78.1 key resistance, a demand zone backed by the 75-period simple moving average. Interestingly, the robust bullish momentum eased as the stochastic oscillator stepped into the overbought territory. The technical...

Bearish Trend Expected for EUR/USD Solid ECN—The EUR/USD price returned from the 50-period simple moving average, and as of writing, the pair trades inside the bearish flag at approximately 1.081. The technical indicators suggest the primary trend is bearish and should resume. From a...

Oil Prices Surge Amid Bullish Signals Solid ECN—Oil price returned from the $74.2 low when the stochastic oscillator signaled an oversold market. As of this writing, the pair trades at about $76.7, above the immediate support at $75.7. The technical indicators suggest the current uptick...

Bearish Momentum Expected Below 50 SMA Solid ECN—The NZD/USD pair is consolidating near the 50-period simple moving average. Meanwhile, the stochastic oscillator stepped into the overbought territory, signaling a sell. Furthermore, the bearish momentum will likely resume if the price remains...