EUR/GBP is reacting off the support level which is a pullback support and could drop from this level to our take profit. Entry: 0.8308 Why we like it: There is a pullback support level. Stop loss: 0.8338 Why we like it: There is an overlap resistance level. Take profit: 0.8260 Why we like it: There is a pullback support level that aligns with the 161.8% Fibonacci extension. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
"On Monthly: For four months it was going sideway. It seems last month of November, made aa Doji after Bearish Erngulfing candle. This could be a breake from this sideway move to go down to 1.0900 Historical Support. All three EMA 200, 50 and 20 are Bearish. -- On Weekly: In the past 10 Weeks it was going sideway. It's not clear at this point to deny or confirm our Monthly analysis. Maybe lower time frame give us more data. However, all three EMAs 200, 50 and 20 are Bearish and above the price. --On Daily: Here we don't get any more data than what we have seen on Monthly and weekly. Sideway is in the game. EMAs are squeezed and market is undecided around 1.12000 Psychological Support / Resistant. -- On Hourly: It most likely gow up to touch 1.12400 or so as I set alert for crossing that Resistant. Although all three EMAs 200, 50 and 20 are Bullish, but they ar squeezed and it's easier to break through them on the way down is potential Bearish reversal at 1.12400 Resistant. "
AUD/USD: Consolidation Amid Strength in Both Currencies The AUD/USD pair remained relatively steady last week, consolidating as both the Australian dollar (AUD) and the US dollar (USD) stood out as some of the strongest currencies in the forex market. While both currencies are supported by robust fundamentals, differing factors drive their respective strengths, creating an interesting dynamic for the pair. Strength in the Australian Dollar The Australian dollar’s strength stems from the Reserve Bank of Australia’s (RBA) ability to maintain its current monetary policy. With interest rates at 4.35%, the RBA faces less urgency to implement sharp rate cuts, supported by: - **GDP Annual Growth Rate:** Australia’s economy is growing at 1.00% annually, showing moderate but steady expansion. - **Inflation and Employment:** Relatively high inflation and low unemployment provide the central bank room to hold rates steady, balancing growth with price stability. These factors position the AUD as one of the more stable and attractive currencies among major forex pairs. The Resilient US Dollar On the other hand, the US dollar remains strong, bolstered by robust economic data and the Federal Reserve’s stance on interest rates: - **Initial Jobless Claims (Nov. 16):** Better-than-expected at 213K, indicating a healthy labor market. - **S&P Global Services PMI Flash (Nov.):** Surprising to the upside at 57.0, reflecting strong activity in the services sector. However, additional data from the US this week showed signs of slowing economic activity, adding pressure to the dollar: - **Chicago Fed National Activity Index (Oct):** Fell to -0.40, below the expected -0.2. - **Dallas Fed Manufacturing Index (Nov):** Declined to -2.7, worse than the forecast of -2.4. - **New Home Sales (Oct):** Slumped to 0.61M, missing expectations of 0.73M. - **Richmond Fed Manufacturing Index (Nov):** Dropped to -14, underperforming the forecast of -10. - **Durable Goods Orders (Oct):** Increased by only 0.2%, below the forecast of 0.5%. - **Chicago PMI (Nov):** Dropped sharply to 40.2, well below the expected 44. While the US economy remains stronger overall, these data points highlight areas of cooling, which tempered the dollar’s momentum. Seasonality No Longer Supportive Unlike earlier in the quarter, seasonality now provides less support for AUD/USD. As the year-end approaches, seasonal patterns often shift toward favoring the US dollar due to increased demand for liquidity and a cautious risk environment. This shift adds another layer of resistance for the Australian dollar, which typically performs better during periods of stronger global growth sentiment. https://www.tradingview.com/x/9yerO8Kk/ Conclusion AUD/USD is in a unique position as both currencies are supported by strong fundamentals. While the Australian dollar benefits from steady domestic conditions and inflationary pressures, the US dollar is bolstered by robust economic performance and higher interest rates. However, signs of cooling in the US economy, as reflected in recent data, have given the AUD a short-term advantage. With seasonality no longer providing support, the pair’s near-term trajectory will depend on further macroeconomic developments and risk sentiment shifts. What are your thoughts on AUD/USD? Could the Australian dollar take the lead, or will the US dollar maintain its upper hand? Share your insights in the comments!
Now that Bearish TIME has almost past and price didn't drop beyond its base number we can say that Bitcoin next move will be to the UPside, how high? that nobody knows but we can speculate with a $102k target and above. Buckle up ladies and gentlemen cause we are going for another wild ride.
double bottom formed with manipulative tail at the second one the price under strong 0.65 level gives a lot of potential to go high
"On Monthly: Like other USD pairs, this one is Bearish too. After a Bearish Engulfing in October, it made a Doji that looks more Bullish than Bearish in the month of November. It seems it got stock between 1.28600 and 1.24800 which is 380 Pips. It stopped at 1.27500. I suspect it will go back up to 1.28600 before heading back down to 1.24800 at last. -- On Weekly: At this time frame we can see the uptrend towards Monthly trend line (RED) as it bounced back off of Daily trendline (Gray). It formed Morning Star and going up to 1.28600. All three EMAs 200, 50 and 20 are squeezed and easy to break one way or another. It seems very risky either Bullish or Bearish trade at this time frame. --On Daily: ""V"" shape reversal has been formed and it seems it's going back up. All three EMAs are Bearish. But it may continue Bullish up 1.28600 as it seems it has made a Head & Shoulders to bounce back down. -- On Hourly: On the contrary of Daily chart, it has made a multi-bottom formation for Bullish move. Let's see how the price will perform at 1.27500 Historical resistant. All three EMA's are Bullish and it's spreading open so far."
"On Monthly: It made a Hammer formation at the Psychological Support 0.58000 which is Bullish candle formation. It potentially can go up to 0.6000 which is another Psychological number / Rersistant ultimately. However, as all three EMA and other USD pairs show, the primary move is Bearish. -- On Weekly: It seems it has made a Bi-Lateral flag after a major Bearish move since 2021. last week made a Bullish Engulfing Candle moving up to 0.6000. Although, temporary it can be Bullish, but Primary move is Bearish as all three EMAs are Bearish. --On Daily: this time frame doesn't give us much more data than what we have seen on Monthly and Weekly. It just proves that Bull are in charge temporary in a primary Bearish move. -- On Hourly: Lower time frame confirms the same thing which is Bullish move up to 0.6000 as it broke the Bearish trend and runing above all three EMAs, 200, 50,and 20. One opportunity would be price comes down and touch and get rejected at 0.59000 to continue Bullish up to 0.6000."
#Bitcoin dominance monthly rising wedge breakout and breakdown completed! #Alts market capitalization OTHER TOTAL3 AND TOTAL2 The breaking and closing of the handle cup formation that formed on a monthly basis has been completed. We are moving towards #Altseason in an environment of Denial and Disbelief!
"On Monthly: This pair, Since 2021 has beeb Bullish. That is due to Monetary policy of Japan that it seems recently it slowely changing. There are two Historical Rersistants (160.00 and 155.400) that have been touch, but not broken since 1997. BOJ always interfear with market once the price get to that level. Last month on November, it hit 155.400 and got rejected and it made a Doji Bearish candle that can arguably called Shooting Star. Price is close to 149.00 Psychological number as support in this case. If FED. don't raise the Interested Rate in the month of December, price most likely will bounce back up. -- On Weekly: It made an Evening Starcandle formation and a solid Engulfing candle twice as big of previous candle and it's landing at 149.00 Support. The bearish move now is clear that mostlikepy will continue based on this time frame. --On Daily: It is confirming the Bearish move to 149.00 with all three EMA 200, 50 and 20 supporting it. We need to see how it behaves once it hit 149.00 and adjust our strategy. -- On Hourly: This time frame just shows the same analysis granually. It's consolidating / correcting to continue Bearish move with the support of all three EMAs."
True market leader of past and this year, both fundamentally and technically, is approaching an important mid-term resistance zone of the uptrend from 2022 lows: 322-370-470. Although the uptrend on the date of writing is very intact and looks strong (since august lows price respects 8/21 ema), these resistance area might provide profit taking or position hedging opportunities for both swing/position traders and investors. These might become especially important when/if price starts trading bellow 8/21 with ema reversing their slope to the down-sideß. https://www.tradingview.com/x/j6lmVyqI/ Until price is bellow 470, next important, mid-term support zone 255-175. While price is above 175 resistance level, suggested macro up-trend structure is valid with higher potential price levels in years to come. Thank you for your attention! P.S. This is my biggest mistake and investing regret from last and this year. Had a perfect entry on 10th of July with 26.68 cost level and long-term hold-intentions but ended treating it as a short term swing position loosing big picture view, selling everything on 14th of July and moving it out of my focus list. https://www.tradingview.com/x/DQQ3hhbU/ Good to observe and reflect from this experience of mine and move on being inspired by life-changing potential of TML's like NASDAQ:APP : )