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Risk event for the week starting 31 January: GBP/USD


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    • WTI Elliott wave analysis  Function - Counter-trend  Mode - Corrective  Structure - Impulse for wave 1 Position - Wave 1 Direction - Wave 1 is still in play Details - Price could currently be in the blue wave ‘iv’ bounce or 2nd sub-wave of blue wave ‘iii’. The two scenarios support an extension lower for as much as the price remains below 81.07. Since April 2024, the West Texas Intermediate (WTI) crude oil market has been descending into an impulse wave. This indicates that the recovery from the December 2023 low has likely concluded, and prices may extend lower, potentially falling below that previous low in the coming weeks. The long-term outlook for WTI remains bearish. With medium-term price movements now aligning with this outlook, it might be prudent for buyers to reconsider their positions and switch sides on this commodity.   Analyzing the daily chart, the blue wave X of the primary degree reached its peak at 95 in September 2023. Prior to this, the preceding blue wave W commenced at 130.9 in March 2022 and concluded with a double zigzag structure at 64.56 in March 2023. From the peak at 95, we have been tracking the blue wave Y, which subdivides into an (A)-(B)-(C) zigzag pattern. The high of 87.63 confirmed wave (B), and the current decline is part of wave (C). The impulse wave declining from 87.63 can be identified as wave 1 of (C). This decline has been further detailed on the H4 chart.   On the H4 chart, the price action is currently undergoing an upward correction within blue wave iv of 1. If the price remains below 81.07, we can anticipate further selling pressure, which would complete blue wave v of 1 before a more significant corrective bounce in wave 2 begins. However, if the ongoing minor recovery surpasses 81.07, it would suggest that wave 1 has already concluded, and the price is now in wave 2. The ultimate invalidation point for this analysis is at 87.63; as long as prices remain below this level, sellers should maintain control in the medium term.   To summarize, the WTI crude oil market's recent price movements suggest a continuation of the downtrend initiated in April 2024. The completion of the recovery phase from the December 2023 low, coupled with the formation of an impulse wave, points towards further downside potential. Traders should closely monitor the key levels of 81.07 and 87.63 to confirm the ongoing wave structure and make informed trading decisions. As long as the price stays below 87.63, the bearish outlook remains valid, and sellers are likely to dominate in the medium term. Technical Analyst : Sanmi Adeagbo  Source : Tradinglounge.com get trial here!  
    • Recently, the comments of the Indian billionaire and Kotak Bank CEO Uday Kotak have thrust the status of the US dollar back into the spotlight. Kotak referred to the dollar as the "biggest financial terrorist of the world," a statement that has sparked widespread controversy. At the same time, the Asia-Pacific markets have experienced some unusual stock fluctuations, with the significant stock of Sony drop drawing particular attention. Ryan Anderson will delve into the implications of the remarks of Kotak, explore the stability of the status of the dollar, and examine its impact on the stock market. Questioning Dollar Hegemony The public description of Kotak on the dollar as a "financial terrorist" has, despite his subsequent attempts to soften the statement, raised questions about dollar hegemony. The position of the dollar as the the primary reserve currency of the world has long been considered a cornerstone of the financial system. However, with shifts in the global economic landscape and adjustments in international political relationships, some countries and individuals have begun to question the dominance of the dollar. Ryan Anderson believes that dollar hegemony gives the United States asymmetric power and advantages, even amounting to financial bullying. The comments of Kotak represent dissatisfaction and doubt about dollar hegemony, reflecting the attention and concern of the international community regarding the status of the dollar. Stability of the Status of the Dollar Ryan Anderson points out that despite the doubts surrounding dollar hegemony, there is currently no clear alternative currency, and the dollar still dominates the global financial system. The position of dollar as the reserve currency of the world has historical and institutional advantages, with the position of the United States in the global economic and financial systems being unshakable. Additionally, the liquidity and stability of the dollar are crucial reasons for its stable status. While some countries and regions are making efforts to promote a diversified reserve currency system, replacing the dollar remains fraught with difficulties and challenges. The Stock Fluctuations of Sony Aside from the questions about dollar hegemony, the unusual stock fluctuations of Sony have also garnered widespread market attention. As one of the blue-chip stocks of Japan, the stock movements of Sony have impacted the entire Japanese stock market and even spread to other Asia-Pacific regions. The rapid decline in the stock price of Sony may be influenced by various factors, including market sentiment, internal company issues, and industry competition. Although the stock volatility of Sony may be a short-term phenomenon, Ryan Anderson advises investors to remain vigilant, adjust their investment strategies promptly, and mitigate investment risks. Despite the remarks of Kotak sparking discussions about the status of the dollar, the dollar still firmly holds its dominant position in the global financial system. Ryan Anderson suggests that investors approach market volatility cautiously, adjust their strategies promptly, and stay attuned to changes in global economic and political dynamics to reduce investment risks. Additionally, investors should remain rational and calm during stock market fluctuations, avoiding excessive influence from market sentiment. Rational investing and long-term holding are key to achieving stable returns.
    • With Ethereum's ETF coming soon, people are watching the market closely. This made me think of MON protocol is from PixelMon, a project that almost got rugged about a year ago but has now gotten its mojo back with over 120 gaming projects collabo, a meteoric rise in its NFTs and attracted a multimillion dollar investment from renowned VCs. Its story is inspiring for other blockchain projects They've got one of the largest airdrop in the ecosystem with early adopters having PixelMon cards (going to be airdropped before TGE) and the MON mission questers going to be airdropped after TGE, And here's some exciting news - the Protocol is about to be listed on Bitget, This is a big step forward for the project and shows it's growing and gaining traction,what are your thoughts on gamefi and if You have tried out their game play what's it like please do share.
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