EUR/GBP has recently shown a strong bullish acceleration, breaking decisively above the consolidation zone between 0.8285 and 0.8480, and reaching the monthly resistance area around 0.8580–0.8600. This zone, highlighted on the chart with a marked red and grey band, represents a historically significant selling area—already tested earlier this month and revisited again today. The strong upward expansion has been accompanied by an RSI nearing extreme levels, indicating a possible and imminent loss of bullish momentum. From a technical perspective, the current setup reveals an active supply zone that could trigger a pullback, especially if the price fails to close decisively above the weekly and monthly highs. Potential profit-taking may drive the pair back toward the intermediate balance zone around 0.8450–0.8480, which would serve as the first dynamic support level. Only a clear and confirmed breakout above 0.8600 would open the door for further bullish continuation, with targets toward 0.8650 and beyond. Strategically, caution is advised at this stage: traders already long may consider scaling out near resistance, while those eyeing short entries could find opportunities on reversal signals or confirmation of rejection from the current zone.
Hello Traders In This Chart EURUSD HOURLY Forex Forecast By FOREX PLANET today EURUSD analysis ? ?This Chart includes_ (EURUSD market update) ?What is The Next Opportunity on EURUSD Market ?how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Bitcoin trades on a critical make or break level of a big bullish butterfly from the topping arch. This tends to be an imperatively important pivot point in a trend. In the strong trend the butterfly is an ABC correction and then we're into a new 5 wave climb. In the failure of the butterfly, this is the failure of the uptrend and we switch from a steady consistent downtrending action with pullbacks and new lows to out and out puking. We are right on the verge of puking. BTC is now trading at this level for the third time. Realistically, the best odds were off the first one. Being here a third time is quite sketchy. Coupled with the fact indices are looking ultra rough and most of the alts are showing massively obvious big break signals (like huge head and shoulders etc) - this looks bad. If this breaks there are no major supports before 55K. The next supports would be minor shallow bounce supports. We could downtrend to the 4.23 fib which is around 20K and if we get there a spike out of it would even make 10K viable. BTC can drop over 70% from the price is trades today in a butterfly break. We sit specifically on the decision level now. If it breaks- it can be a very serious thing. MUCH WORSE THAN THE LAST BREAKS.
BTC is expected to drop to a pullback support of 57791.32 before another set of bullrun begins . Watch out as price reacts because bears are currently dominating for a while now.
I am expecting ES to retest 4870s area if we break 4960s Level
- GBPCHF broke the support zone - Likely to fall to support level 1.0785 GBPCHF currency pair recently fell sharply through the support zone between the support levels 1.1000 and 1.1100. The breakout of this support zone was preceded by the breakout of the daily up channel from September. The breakout of these support levels accelerated the active intermediate impulse wave (3) from the start of August. Given the strongly bullish Swiss franc sentiment seen recently, GBPCHF currency pair can be expected to fall to the next support level 1.0785, the target price for the completion of the active intermediate impulse wave (3).
This price point is significant as it aligns with Ethereum's previous highs from 2018, suggesting a potential support level. The occurrence of a monthly divergence indicates that selling pressure may be diminishing, potentially paving the way for a bullish reversal. Looking ahead, industry projections are optimistic about Ethereum's future performance. Analysts anticipate that Ethereum could reach new all-time highs, with some forecasts suggesting prices exceeding $5,000 in the coming year. From a fundamental perspective, Ethereum's transition to a proof-of-stake consensus mechanism has significantly reduced its energy consumption and introduced deflationary pressures on its supply. This shift, along with ongoing network upgrades, enhances Ethereum's scalability and security, reinforcing its position as a leading platform for decentralized applications and finance. Furthermore, the approval of Ethereum-focused exchange-traded funds (ETFs) has opened new avenues for institutional investment, contributing to increased demand and potential price appreciation. In summary, the current price dip presents a favorable buying opportunity, supported by technical indicators and robust economic fundamentals. With continued network enhancements and growing institutional interest, Ethereum's outlook remains positive. Please note alot of these things can take time to reflect in price. So although some of these news are a few years long it does not make it any less impactful! Buy when there is blood on the street.
- WTI broke the long-term support zone - Likely to fall to support level 55.00 WTI crude oil recently broke the long-term support zone set between the support levels 60.00 and 65.00. This support zone has stopped all downward corrections from the middle of 2021. The breakout of this support zone accelerated the active downward impulse wave 3, which belongs to the intermediate impulse wave (3) from the start of 2024. Given the strong downtrend seen on the weekly WTI charts, WTI crude oil can be expected to fall to the next support level 55.00, the target price for the completion of the active impulse wave (3).
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