? Technical Analysis Price is currently trading in a strong weekly/monthly resistance zone around 1.3390–1.3400, marked by a dense multi-layer supply area. Historically, this level has caused sharp rejections. From the lows, price completed a steep bullish leg, breaking through several structures. However: Momentum seems overstretched. RSI shows potential overbought signals. There's a likely bearish target zone between 1.2950 and 1.2850, which is a key demand area. ? Trade Setup: I’m watching for exhaustion signals or bearish confirmations on H1 to short from the current resistance, targeting the grey and turquoise zones below 1.30. ? COT Report – GBP Large Speculators (Asset Managers) still hold a net short position, although they've reduced exposure in recent months. Leverage Funds remain slightly long, but without strong conviction. ? COT Report – USD Leverage Funds have turned significantly net long on the dollar (strong green line upward since March). This supports a bearish view on GBP/USD, as USD strength returns. ? Summary: Price is at a key decision zone. A technical correction is possible. COT data supports this view: GBP remains weak on the institutional side. USD is regaining strength.
Market Analysis: WTI Crude Oil Rebounds in Tandem WTI Crude oil prices climbed higher above $60.00 and might extend gains. Important Takeaways for WTI Crude Oil Price Analysis Today - WTI Crude oil prices started a recovery wave above the $60.00 and $61.50 resistance levels. - There was a break below a connecting bullish trend line with support at $63.00 on the hourly chart of XTI/USD at FXOpen. Oil Price Technical Analysis On the hourly chart of WTI Crude Oil at FXOpen, the price started a recovery wave from $58.40 against the US Dollar. The price gained bullish momentum after it broke the $60.00 resistance and the 50-hour simple moving average. The bulls pushed the price above the $61.50 and $62.00 resistance levels. The recent high was formed at $64.20 and the price started a downside correction. There was a minor move below the 23.6% Fib retracement level of the upward move from the $59.87 swing low to the $64.18 high. https://www.tradingview.com/x/aRnNnuPg/ There was a break below a connecting bullish trend line with support at $63.00. The RSI is now below the 50 level. Immediate support on the downside is near the $62.0 zone or the 50% Fib retracement level of the upward move from the $59.87 swing low to the $64.18 high. The next major support on the WTI crude oil chart is near the $61.50 zone, below which the price could test the $59.90 level. If there is a downside break, the price might decline toward $58.40. Any more losses may perhaps open the doors for a move toward the $56.20 support zone. If the price climbs higher again, it could face resistance near $64.20. The next major resistance is near the $65.00 level. Any more gains might send the price toward the $68.50 level. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Bitcoin is showing strength towards the $88,000 mark, but the RSI on the 1-hour and 4-hour timeframes is significantly overbought, signaling the need for a healthy retracement. I’m expecting CRYPTOCAP:BTC pullback to the RSI 50 midline, which could align with a price retrace to around $85,000–$83,000. If BTC loses the $85K level, FWB:83K comes next. A deeper retest could bring it back to $80K, which may serve as a high-conviction long zone. Trading Plan: Short scalp while RSI is overheated. Long entries: $85,600 zone if structure holds. Keep your eyes on volume and RSI reaction near key levels.
EGLD ~ 1D Analysis #EGLD Buy after successfully penetrating this resistant line with a short -term target of at least 10%+.
Trend lines to watch in the coming weeks for the DJI if the initial one breaks down a test of the Covid trend line might come Lets see how it goes Daily timeframe
Market Analysis: Gold Extends Record Run Gold price started a fresh surge above the $3,250 resistance level. Important Takeaways for Gold Price Analysis Today - Gold price started a fresh surge and traded to a new record high at $3,384 against the US Dollar. - A key bullish trend line is forming with support at $3,322 on the hourly chart of gold at FXOpen. Gold Price Technical Analysis On the hourly chart of Gold at FXOpen, the price formed a base near the $3,200 zone. The price started a steady increase above the $3,250 and $3,280 resistance levels. There was a decent move above the 50-hour simple moving average and $3,350. The bulls pushed the price above the $3,380 resistance zone. A new record high was formed near $3,384 and the price is now consolidating gains. https://www.tradingview.com/x/pmBA87Iw/ On the downside, immediate support is near the $3,362 level and the 23.6% Fib retracement level of the upward move from the $3,283 swing low to the $3,384 high. The next major support sits at $3,322. There is also a key bullish trend line forming with support at $3,322. It is near the 61.8% Fib retracement level of the upward move from the $3,283 swing low to the $3,384 high. A downside break below the trend line support might send the price toward the $3,282 support. Any more losses might send the price toward the $3,242 support zone. Immediate resistance is near the $3,384 level. The next major resistance is near the $3,388 level. An upside break above the $3,388 resistance could send Gold price toward $3,500. Any more gains may perhaps set the pace for an increase toward the $3,520 level. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
All the information you need to find a high probability trade are in front of you on the charts so build your trading decisions on 'the facts' of the chart NOT what you think or what you want to happen or even what you heard will happen. If you have enough facts telling you to trade in a certain direction and therefore enough confluence to take a trade, then this is how you will gain consistency in you trading and build confidence. Check out my trade idea!! https://www.tradingview.com/?aff_id=109100
Analyzing the price movement of ?USDCHF. Following a significant downward trend, the price started to consolidate within a horizontal channel on a 4-hour chart. The violation of the channel's lower boundary indicates a strong bearish indication, suggesting a likely continuation of the downward trend. Goal - 1.4902
The Falling wedge is on the verge of breakout, in case of successful breakout expecting massive bullish rally on daily timeframe✅ Expected 33% bullish wave in coming days??
The arrow in the image points to a potential upward movement of the NIFTY index after it bounced off a support level. To provide detailed resistance and support levels specifically for this indicated movement, we need to analyze the chart around that area. Based on the provided chart: Support: The most immediate support that facilitated the bounce is around the 23,800 level. This is where the price found buying interest and reversed its downward trend. A further significant support level can be seen near 23,600. This level acted as resistance previously and now could act as support. Resistance: The immediate resistance that the price might encounter as it moves upwards is around the 24,200 level. This level aligns with a previous swing high and could present a hurdle for further upward movement. A more significant resistance zone appears to be around the 24,500 - 24,600 area. This zone has acted as a strong resistance in the past, as indicated by the horizontal lines on the chart. Therefore, for the upward movement indicated by the arrow: Immediate Support: ₹23,800 Next Support: ₹23,600 Immediate Resistance: ₹24,200 Stronger Resistance Zone: ₹24,500 - ₹24,600 It's important to remember that these levels are based on the information visible in this specific chart and market conditions can change.