DredDine

DredDine

• XAU/USD retested 1,641 before resuming its higher high. It was almost to R1 (1,674), which represents an upside obstacle. It could now test and retest the 1,659 - 1,654 support area. • The weekly pivot point of 1,657 is also a downside barrier. Gold could resume its upward trend as long as it remains above these levels. ➥ CONCLUSION: Testing and retesting the...

DredDine

• Bitcoin is trapped between 18,271 and the downtrend line. The price movement formed a triangle pattern. Breaking out of this pattern could provide us with a clear direction and new trading opportunities. • The 20,381 represents an upside obstacle as well. You must exercise careful because a false breakout in one direction may indicate a valid breakout in the...

DredDine

• LTC/USD is stuck between 50.01 and 55.55. 52.30 represents a support level. Personally, I won't look for new trading opportunities until the rate breaks out of this pattern. ➥ CONCLUSION: • A valid breakout above 55.55 and R1 (55.66) could lead to long opportunities with a potential target at R2 (58.78). • A new lower low with a valid breakdown below 50.01 and...

DredDine

• In the short term, GBP/USD has formed a triangle pattern. The uptrend line serves as dynamic support, while 1.0931 was an upside barrier. Staying above to this static resistance may indicate strong upside pressure • A temporary retreat or sideways movement was natural following its strong bounce from the lower low of 1.0356. ➥ CONCLUSION: Staying above the...

DredDine

• EUR/USD came back to retest the 0.9670 former high which stands as support. Its failure to stabilize under this level signaled strong upside pressure. • 0.9750 high represents the significant upward barrier. In the short term, failure to take out the confluence area from around S1 (0.9550) followed by an aggressive breakout through the downtrend line signaled a...

DredDine

• The EUR/USD closed the gap, but it ran into resistance at 0.9980 and crashed again. The price failed to retest the downtrend line, indicating that there is significant downside pressure. • It has fallen below the 0.9899 static support once more, but the weekly S1 (0.9880) has stopped the sell-off. The bias remains bearish as long as it remains below the...

DredDine

• The failure of XAU/USD to remain above the weekly pivot point of 1,715 and above the uptrend line indicates that the leg higher has ended and that sellers may take the lead. • In the short term, the gold has attempted to retest the broken uptrend line and pivot point, thereby confirming the breakdown. ➥ CONCLUSION: More declines were signaled by a break below...

DredDine Updated 

• The weekly S1 (0.9880) provided support for the EUR/USD, which has since attempted to close the gap. It has encountered resistance at 0.9935 and currently appears to be unsure. It might shift sideways in the near future. • Price declines are still possible as long as the pair remains below the descending pitchfork's Resistance Trendline, signaling a bearish...

DredDine

• The gold price is encased in a triangle pattern, as seen on the H1 chart. The XAU/USD pair indicated a greater increase after breaking free of the down-channel pattern. • The channel formation was regarded as a bullish reversal pattern from a technical perspective. However, it may test and retest the support of the triangle or the downtrend line in the near...

DredDine Updated 

The GBP/USD pair retested the downtrend line and has since fallen under the previous low of 1.1624. It will be interesting to see if it can validate its breakdown. After today's sell-off, a brief rebound is not entirely ruled out. GBP/USD may continue to move downward as long as it remains below the downtrend line. Technically speaking, the weekly S2 (1.1600)...

DredDine

• After failing to hit the 0.9900 lower low, the EUR/USD spiked higher. It has encountered resistance after climbing as high as 1.0018. • False breakouts through the downtrend line could bring new short opportunities. The immediate downside barrier is 0.9900. After the US data dump, EUR/USD may experience abrupt movements in either direction. • "Keep it Simple",...

DredDine Updated 

• On the H1 chart, you can see that XAU/USD found support just beneath the downside line of the channel. Only a false breakdown and an upside turn were registered. It tested the S1 (1,706) static resistance (support turned into resistance). • It has formed a flag pattern in the near term, which is considered a bearish formation. Major uphill challenges are...

DredDine Updated 

Technically, the USD/JPY pair is positive as long as it remains above the R1 (138.20). Upside barriers are represented by R2 (138.90) and 139.07. Additionally, the uptrend line functions as dynamic support; only a new lower low and a legitimate breakdown below this line might render the upward scenario incorrect and herald a bearish reversal.

DredDine

• The AUD/USD Break and restest the level 0.684 could continue its downside move. as the downtrend line stands as an upside obstacle. • As long as it stays under the downtrend line and the S1 (0.683) level, the pair could drop deeper to S2 (0.677) level. Good Luck!

DredDine

• The broken uptrend line was retested by LTC/USD, as seen on the H4 chart, and it is now challenging the median line of the descending pitchfork. • The 52.30 former low is a significant downside barrier. As you can see, the rate only recorded false breakdowns during the most recent attempts. A larger drop might be rendered invalid by maintaining above 52.30 and...

DredDine Updated 

On the h1 chart, you can see that XAU/USD is signaling significant downward pressure by breaking through the weekly S1 (1,722) barrier. we cannot exclude a temporary rebound. Before continuing to decline, gold may return to test and retest the S1 (1,722) level. The bias is still bearish as long as it remains below the downtrend line.

DredDine

The H1 chart shows that the pair only experienced a false breakdown below the pivot point of 0.9980, through the previous low, and now above the previous highs. The weekly R1 (1.0070) is being challenged by EUR/USD, and it may soon reach the important level of 1.00900. If the price can't stay below parity, it might try to continue its upward trend. Good Luck!

DredDine

BTC/USD is stuck between 20,566 and 19,526 as seen on the H4 chart. Bitcoin could fall back down at least to the previous lows as long as it remains below the downtrend line and the weekly pivot point of 20,325. A larger rebound could only be triggered by successfully breaking through the downtrend line and recording a new higher high. Good Luck!