🔍Today's market saw a notable rebound from a crucial support level, reaffirming the buying opportunity for investors keen on sustaining prices above this support. As emphasized in previous analyses, the breach of this support and subsequent consolidation below it would likely signal a bearish trend, making position opening challenging until proximity to this...
Here I have USD/CHF on the Daily Chart! Now we've been following USD/CHF since it created its NEW LOW back in Dec. '23. This LOW I believe sparked the beginning of an Elliot Wave and currently we are looking at what seems to be a possible LAST LEG of this Impulse Move! Price has currently created a HIGHER HIGH @ .90721, so we will be looking for Price to...
Technical Confluences for Trade: - Stochastics are in Overbought Conditions on H1 & H4 time-frame - Price action is at a Supply Zone area - Price action may reverse towards the ascending support Trendline - Targeting the 38.2% Fibo retracement Suggested Trade: Entry @ Area of Interest 1.3760 - 1.3800 SL @ 1.3854 TP 1 @ 1.3697 (Close Half-Position & move SL to...
Technical Confluences for Trade: - Stochastics are in Overbought Conditions on H4 time-frame - Price action is close to a Resistance Trendline & a Consolidation are - Price action may reverse back towards the previous Demand Zone Suggested Trade: Entry @ Area of Interest 560 - 570 SL @ 580.66 TP 1 @ 552 (Close Half-Position & move SL to Entry level once TP1 is...
Here I have EUR/GBP on the 4 Hr Chart! Ever since its visit at the Support Zone @ ( .8534 - .8528 ), Price has been steadily making Higher Highs and Higher Lows with the most significant High in the Price Action being Friday's High reaching the Resistance Zone @ ( .8586 - .8581 ) on the release of LOWER than expected NFP numbers for USD ( 175K Actual - 238K...
The British Pound continues its upward momentum against the US Dollar, however, there has been a decline below the 1.2550 mark after surging to a high in the past three weeks at 1.2634 following the release of the US Non-Farm Payrolls (NFP) report. On the 4-hour chart, the Relative Strength Index (RSI) has been trading above the 50 level and continues to trend...
Last weeks levels provided to be partly actionable and price has immediately responded (See attached post). Comfortable holding this 50% long position with stop/target untouched. Will be looking for opportunities to buy the other 50% and increase risk as I'm confident in the bullish sentiment after last weeks Feds statement. I hold an underlying belief that the...
Gold traded below the $2,300 mark during Friday's U.S. trading session following the release of the Nonfarm Payrolls and Unemployment Rate report. However, gold still maintained stability and closed the session around the $2,300 level. On the daily chart, gold continues to show an upward trend, despite dipping to $2,227. Technical indicators are still supportive...
In The above chart you can see how Nifty follows various Technical aspects of the chart. First of all we can see a Parallel channel in which Nifty is travelling. The channel has 3 parts. 1) Channel Top. 2) Channel Bottom. 3) Mid Channel. Channel top will always work as a resistance and Channel bottom will always will work as support. Channel Mid or Mid channel...
With last poor earnings, Starbucks NASDAQ:SBUX generates my favorite long-term signal for potential long-term buying (Bollinger Bands torn & RSI oversold on weekly basis) If the company gets its problems under control, there could be a reversal soon After such negative earnings, however, the price still needs to stabilize somewhat The stabilization of ...
Gold recorded a slight increase to near $2,230 in Thursday's US trading session, amidst optimistic market sentiment, declining US treasury bond yields, and a weaker US dollar. In the Asian trading session on Friday, the price of gold continued to maintain stability, fluctuating around the $2,300 mark. Based on technical analysis on the 4-hour chart, the Relative...
FX:EURJPY has retraced to a daily/4 hr trend line support level after creating a higher high in a bullish trend. Bullish divergence has also formed on the chart indicating good potential for a continuation of the bullish rally!
EUR/USD gained traction in the second half of the day on Thursday, maintaining its consolidation phase above 1.0700 into Friday as investors geared up for the highly impactful data release of the week, the April US employment report. Positive shifts in risk sentiment were observed, which exerted downward pressure on the US Dollar during Thursday's US trading...
On the above 2-week chart price action has enjoyed a 100% move in only 8 years. A number of reasons now exist to consider a bearish outlook for Gold, including: 1) A triple top on legacy resistance. 2) Regular bearish divergence. The number of oscillators now printing negative divergence with price action is actually greater than the positive divergence that...
Overal, the EUR/USD pair continues to maintain an upward channel, sustaining stability around the 1.0730 level in the Friday's Asian trading session. This stability is attributed to investors awaiting the April employment report from the United States, which will include non-farm payroll data and the unemployment rate. Looking at the chart, it shows that...
🔍In today's market, we witnessed a minor downturn as the support at 6115 was breached, signaling a brief downward trajectory. However, a significant bounce occurred at the first critical support level of 56708, indicating a corrective move towards the upside. As anticipated in the previous analysis, a rejection from 66480 validated the dominance of sellers,...
AMEX:SPY May 3, 2024 15 Minutes. Last 2 days AMEX:SPY managed to sort out the moving averages issues due to sudden up and down movement on May 1, 2024. Now all moving averages have converged, 50 averages are around 502.5 levels. So, for the day if I consider the last rise from 501.34 to 505.88, holding 503 levels I will have a target of 506 - 506.5 to 510...
Technical Confluences for Trade: - Stochastics are in Overbought Conditions on H4 time-frame - Price action reversed away from Supply area - Price action may reverse back towards Resistance Trendline and 61.8% Fibo Retracement Suggested Trade: Entry @ Area of Interest 1.8100 - 1.8110 SL @ 1.8156 TP 1 @ 1.8057 (Close Half-Position & move SL to Entry level once...