@dayomabinuola, Author at FaithMight

February 27, 2019February 24, 2020

Euro Gaining Momentum Against The Dollar

The $EURUSD pair has moved both bullish and bearish since 2018 at an average of 200pips. The daily chart shows there has been rowdiness in the price movement. $EURUSD has been repeatedly oversold in May and August 2018. Price at several occasions touched the resistance level and reversed. The $EURUSD bears are more dominant since April 2018. Also, since the beginning of this year, the bears have been more dominant. Any attempt to begin a bullish trend, the bears take charge of the market.

Ichimoku’s future shows a downtrend, which is yet to give a reversal signal. In recent times, the price of $EURUSD has not shown an oversold position on the RSI. With price action, price is currently at 1.13746 after a bounce occurred. Now price is almost touching the Bollinger band’s middle line. If the candlestick crosses and closes above the middle line of the Bollinger band, then the uptrend might continue to reach 1.15068.

February 22, 2019February 22, 2019

Bitcoin Might Fall Back To Major Support Level

There was a sudden rise in the price of $BTCUSD on the 8th of February after a long range in price. Price initially was around 3360 before the upward movement to 3631 on the same day. After the bullish movement, a range in the price of $BTCUSD began. Two weeks later, $BTCUSD price began a bullish movement on the 19th of February which reached the resistance level of 3981.

On the RSI chart, price of $BTCUSD has been overbought at least twice in February. $BTCUSD price might fall to 3500 due to overbought positions. $BTCUSD bulls tried to move price about $600 in February. The bears seem to be in control of the Crypto world, giving little chances to the bulls. In the 4hr timeframe, price of $BTCUSD might fall about $500 in the next few days. Ichimoku is still showing a bullish trend which may likely give a reversal signal.

February 20, 2019February 24, 2020

EURBGBP Bears Might Pave way For The Bulls

There is a major support level at 0.86375 which the price of $EURGBP has maintained in the last few years. Today, a dip in price has resulted, thereby GBP has gained about 350pips in 2019. After this dip, a trace of reversal has begun. In the past one and half years, price of $EURGBP has been between 350pips indicating low volatility.

The RSI has indicated an oversold position giving rise to a reversal in the price of $EURGBP. Despite today’s drop in price, there are signals that price will touch the resistance level at 0.90496 in next few weeks. Price of $EURGBP is currently around the support level again. Just recently, price touched this support level at 0.86324 in the last trading week in January. Ichimoku shows the price is in a downward direction. If price of $EURGBP touches the middle line of the Bollinger bands, price might continue the upward movement.

February 20, 2019February 24, 2020

General Electric Is Currently Overbought

Since the beginning of the year, $GE bulls have been actively trading with over 250points. 2018 ended on a poor note for $GE shares when price fell about 500points before a range in price began. However, 2019 began with the $GE bulls in charge of the market with over 150points gained before the end of January. On the 1st of February 2019, they was a gap upwards which made the share price of $GE to move higher about 100points more.

Price is already overbought using the RSI thereby depicting a reversal is about to begin. Ichimoku is still showing a bullish direction alongside the price of $GE still on the upper region of the Bollinger bands. As it is expected that the bears get into the market for a short while, price of $GE could begin a bullish movement after a dip might reach 8.50.

February 15, 2019February 24, 2020

Nike Bulls May Relent

There has been an upward movement with the $NKE share price since the last week in 2018. The bulls have gained about 300points since then. $NKE reached an all time high in September 2018 and there was a major resistance at 86.04 level. The current price of $NKE is at 85.07 which might maintain the resistance level 86.04. Just recently, $NKE trainers which looked to have the name Allah have been asked to be recalled. This recall may negatively affect the sales of the trainers.

Ichimoku’s future is yet to show a reversal which indicates that the $NKE bulls are still in the market. RSI also shows an overbought position indicating that a correction lower may begin. Since price is already touching the resistance level, this could give room for the bears to get into the market. Price of $NKE still maintains the upper region of the Bollinger bands. If a bearish movement begins, it could attract about 100points.

Source: Nike Air Max Trainers Allah Sneakers Recall Petition Arabic Offensive.
(Independent.co.uk)

February 13, 2019February 24, 2020

The Dollar Might Continue The Uptrend Against The Yen

The Japanese yen gained so much against the dollar with over 500pips in December 2018. During this time, most of the American stocks took a dip and are yet to recover fully. $USDJPY peak price in 2018 was in October at 114.404. In the second half of the year in 2018, $USDJPY was overbought at two instances. Price touched level 104.718 level in the early days of January 2018 with much volatility in the 2nd trading day.

After the dip in December, price of $USDJPY is already oversold on the RSI indicating a reversal for an uptrend. Price has currently moved upward 300pips in 2019 and shows a very high tendency of a continuous uptrend to 113.96 in the long run. For a short while, price of $USDJPY could rally up to 111.823 from its current 110.480. The future of Ichimoku shows a trace of reversal which might attract an additional 300pips in the long run. Though price is currently in the lower region of the Bollinger bands, price might cross upwards to the upper region of the band in a short while.

January 31, 2019February 24, 2020

Netflix Retesting Resistance

Netflix share price attained all time high in June 2018 with a profit gain of over 100% for all of 2018. After this height, a fall in share price began from 422.77 to 232.78. About 45% fall in price turned the stock bearish in the 2nd half of 2018. Bulls have been more active in 2019 with $NFLX gaining about 100 points. On the third trading day of the year, price had already moved up to the upper section of the Bollinger bands.

Price of $NFLX has since retested support level before the bounce; price is currently around the resistance level. A breakout of the trendlines to the downside has occurred making $NFLX to drop in share price. The drop might continue if more sellers get into the market. However, the candlesticks are yet to cross to the lower section of the bands indicating price is still in the buying region. Ichimoku is yet to change direction from its bullish side to being bearish. Nevertheless, RSI has shown that price of $NFLX is currently overbought. Price might fall over 30points depending on the activities of $NFLX sellers.

January 25, 2019February 24, 2020

Facebook Bears Might Be Getting Out Of The Market

The second half of 2018 went sour for Facebook investors when a long dip began in July. Share price moved upward to reach 218.11 and fell to 123.25. $FB has enjoyed a smooth ride in the past few years without much hassle until the dip. The fall was at 43.5% which was the worst fall in the history of $FB shares. Most of the stocks in the market fell towards the end of 2018. Technically, an M sign has been formed holding on to a strong support at 123.25.

RSI is currently showing oversold. This oversold position was last reached in 2012. If $FB bulls get into the market amass, this could lead to a change of trend in the bullish direction. The share price of $FB might reach 160 from its current 145.97 when the bulls take charge fully. A breakout of the resistance level might make the bullish movement to continue. Though Ichimoku is yet to give a change of trend, price might also get into range before the uptrend begins.

January 23, 2019February 24, 2020

Hope For Apple Bulls

$AAPL lost all its gains in 2018 starting in November. This might be due to the on-going trade wars. Since this fall in price, $AAPL shares reached 145.82. Before the huge fall in $AAPL share price, it had been overbought a few times. Using the weekly chart, price of $AAPL has been in the upper region of the Bollinger bands since August 2016 before it changed to the lower section of the bands in November 2018. $AAPL reached an all time high of 228.39 in September 2018.

The fall in $AAPL share price made the RSI show an oversold position. The trendlines are already broken showing a bullish reversal. Though price sits comfortably in the lower region of the Bollinger bands, it is yet to fully reverse. From now, the activities of buyers might make the $AAPL shares to rise to 188.07 from its current 155.17. Ichimoku’s future still shows price is on the downtrend. However, the support level 145.82 is yet to be broken downward despite price retesting the level in the past four weeks. This could be an indication that $AAPL bulls are about to launch their efforts.

January 23, 2019February 24, 2020

EURO APPRECIATES AGAINST THE FRANC

In 2018, the $EURCHF from the weekly chart shows a downtrend. In the penultimate year, $EURCHF shows an uptrend after a range in 2016. $EURCHF moved from the highest level 1.9805 in April 2018 to the lowest level 1.11901 in September 2018. The Swiss Franc gained over 8000pips against the Euro in 2018. Since the second half of 2018, $EURCHF has neither broken the support level 1.11901 nor the resistance level at 1.15031. $EURCHF’s average movement since July 2018 has been 300pips.

An upward breakout of the resistance level could begin if many more EUR buyers get into the market. Since the beginning of this year, the $EURCHF has begun a bullish trend which might reach the resistance level 1.15031. The trendlines A and B have been broken though $EURCHF is yet to move to the upper region of the Bollinger band. The $EURCHF despite the bearish movement last year, it is yet to be oversold. There is a double-buttom on the weekly chart at the support level which technically signifies a bullish movement may begin. A reversal might occur due to EUR buyers getting into the market.