Weekly Market Update: ETHUSD, USDJPY & GOLD, Apr 14th – 20th, 2025
NOTE: This market newsletter is based on analysis conducted using the daily chart timeframe. Each market discussed is accompanied by a corresponding price chart for clarity and reference.
ETHUSD – Ethereum: Selling On Retracement Higher & After Price Action Signal At Or Within The $1956 – $2098 Resistance Area
Comments: Price had been forming a Multiple Inside Bar Pattern since late last week (We are not considering trading this pattern).
Price moved briefly higher from the recent Bullish Fakeout + Giant Tailed Bar Setup that had formed mid last week (We did not consider trading this setup).
Potential Trade Signal: We are looking to sell on a deeper retracement higher and after a price action sell signal, at or within the $1956 – $2098 short-term resistance area.
To Trade This Market With Our Preferred Broker, CLICK HERE
USDJPY: Selling On Retracement Higher & After Price Action Signal At Or Below 148.15 – 148.52 Resistance Area
Comments: Price formed a Bullish Pin Bar Signal late last week (We are not considering trading this signal).
The Giant Bullish Fakeout + Pin Bar Setup that had formed mid last week failed (We suggested not trading this setup in the April 10th daily market newsletter and hopefully saved some traders on this market).
Potential Trade Signal: We are looking to sell on a deeper retracement higher and after a price action sell signal, at or just below the 148.15 – 148.52 short-term resistance area.
To Trade This Market With Our Preferred Broker, CLICK HERE
GOLD – SPOT: Buying On Retracement Lower & After Price Action Signal At Or Above $3167 Support Level
Comments: Price moved significantly higher from the recent Inside Bar Pattern that had formed early last week (We did not consider trading this pattern, nor did we mention it).
The Bearish Pin Bar + Inside Bar (Combination Setup) that had formed early last week didn’t trigger (We did not consider trading this setup).
Potential Trade Signal: We are looking to buy on a retracement lower and after a price action buy signal, at or just above the $3167 short-term support level.
To Trade This Market With Our Preferred Broker, CLICK HERE
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Disclaimer: The risk of loss in trading financial market products, like Cryptocurrencies can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Any content posted here should not be considered financial or Trading advice, this newsletter is just for information purposes and is just the author’s opinion.
