EURUSD Wave Analysis 27 December 2024

- EURUSD reversed from powerful support level 1.0350

- Likely to rise to resistance level 1.0460

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GBPUSD Wave Analysis 27 December 2024

- GBPUSD reversed from support level 1.2495

- Likely to rise to resistance level 1.2625

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🗓 Economic Calendar at 2024/12/30 (GMT)

08:00 🇨🇭 KOF Economic Barometer — Exp: 101.1 Actual: 99.5

15:00 🇺🇸 Pending Home Sales — Exp: 0.9% | 5.8% Actual: 2.2% | 6.9%


[Updated in real time]

The crypto market teeters on the brink of correction

The cryptocurrency market has lost 1.4% in the last 24 hours, falling to $3.29 trillion. Over the past 10 days, the market has mostly stayed in the $3.3-3.4 trillion range, pulling back to late November levels where positions were also shaken out. Here is the classic 61.8% retracement level from the early November rally to the mid-December high.

The price of Bitcoin pulled back to $93.5k, falling below the 50-day moving average after Christmas. Like the rest of the crypto market, bitcoin has returned to the 61.8% level. Bitcoin is on the verge of a technical pullback, and a failure below $93k would signal a break in the short-term trend, which could lead to a deeper decline that could erase all the gains made in November-December.

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Oil: forming the bottom

Energy is expected to regain the attention of market speculators next year due to both technical and fundamental factors.

WTI has repeatedly rallied on attempts to break below $67, which has been a turning point on dips since early 2023. A break below the 50- and 200-week moving averages was a bearish signal, but it has not fully materialised. Continued support leads us to consider the bottoming scenario followed by a global reversal.

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🗓 Economic Calendar at 2024/12/31 (GMT)

01:30 🇨🇳 ⚡️ Manufacturing PMI — Exp: 50.3 Actual: 50.1

01:30 🇨🇳 Non-Manufacturing PMI — Exp: 50.2 Actual: 52.2

14:00 🇺🇸 S&P/Case-Shiller 20 City — Exp: 4.1% Actual: 4.2%

21:00 All New Year's Day


[Updated in real time]

AUDCAD Wave Analysis 30 December 2024

- AUDCAD reversed from resistance level 0.8980

- Likely to fall to support level 0.8900

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USDCAD Wave Analysis 30 December 2024

- USDCAD reversed from resistance zone

- Likely to fall to support level 1.4400

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#Shorts

#USDJPY: Swings before further growth

Only 3 out of 10 top altcoins grew in December

The cryptocurrency market continues to fall, losing some of its significant growth since the beginning of the year. Its capitalisation fell a further 1.4% to $3.23 trillion, matching the lows of the last week and a half. An attempt to stabilise on Monday failed amid a cautious mood in equity markets. It is too early to talk of a complete victory for the bears; rather, the bulls have not yet received any fresh impetus for buying from external factors.

The market ends December down, with only three of the top 10 coins showing growth: BNB, XRP and TRON.

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Signs of a USDCAD Reversal

The Canadian dollar may be consolidating a corrective pullback from multi-year highs.

The USDCAD pair, which approached 1.45 in mid-December, is ending the year near 1.4350. The momentum of the last few days looks like a trend reversal, as there have been two unsuccessful attempts to storm the highs.

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EURCHF Wave Analysis 31 December 2024

- EURCHF reversed from resistance zone

- Likely to fall to support level 0.9350

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NZDUSD Wave Analysis 31 December 2024

- NZDUSD broke key support 0.5600

- Likely to fall to support level 0.5500

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🗓 Economic Calendar at 2025/01/02 (GMT)

01:45 🇨🇳 Markit Manufacturing PMI — Exp: 51.6 Actual: 50.5

13:30 🇺🇸 ⚡️ Unemployment Claims — Exp: 220K Actual: 211K

13:30 🇺🇸 Continuing Claims — Exp: 1890K Actual: 1844K

14:30 🇨🇦 S&P Global Manufacturing PMI — Exp: 51.9 Actual: 52.2

16:00 🇺🇸 Crude Oil Inventories — Exp: -2400K Actual: -1178K


[Updated in real time]

🗓 Economic Calendar at 2025/01/03 (GMT)

08:55 🇩🇪 Unemployment Rate — Exp: 6.2%

08:55 🇩🇪 Unemployment Change — Exp: 15K

15:00 🇺🇸 ⚡️ ISM Manufacturing PMI — Exp: 48.3


[Updated in real time]