ForexAnalytix Week Ahead Video December 1st 2024
Week Ahead Video December 1st 2024
Dollar Trades Into Key Resistance Area
The Dollar took a pause during the Thanksgiving holidays, but the uptrend could resume as normal flows return next week. However, as we approach the end of the year and the start of 2025, trends may shift, as suggested by the Elliott wave patterns analyzed by Grega. Interestingly, COT data for EUR is showing signals that may indicate a trend reversal next year.
Grega also shared insights on JPY and Gold, highlighting why the correction in metals may not be complete yet.
As for Bitcoin, the big question remains—will it finally break the 100k level? While optimism is strong, we must consider whether this phase of exuberance might mark the late stages of the current bull cycle. The key is to monitor sentiment closely to assess whether this move will last or signal the start of a reversal.
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