FX:XAUUSD after a false breakdown of the support of the range is forming a correction, but within the upward consolidation channel. The fundamental background is still negative. There is no strong news in the next two days, so the fundamental background remains the same. There is no strong buyer on the market yet and thus, gold may continue its downward...
It is crucial to note that FX:EURGBP is currently at a robust support level and forming a bullish divergence on the 4-hour time frame. A pullback is expected from this point, as liquidity has recently surged from the lows. Therefore, it is advisable to enter a long trade with a stop loss at the recent low and take profit at the recent high, targeting a 1:2...
Technical Analysis of Gold The price of gold has stabilized above 2354, suggesting it will likely reach 2369. A break above 2369 is needed to continue the bullish trend toward 2388. However, if the price remains below 2369, it may consolidate between 2369 and 2354. Should the price break below 2354 and stabilize, it is expected to drop to 2344. Pivot Price:...
After Mt. Gox moved $840 million in Bitcoin to a new wallet , Bitcoin started to fall. Bitcoin has managed to break the lower line of the ascending channel . According to the theory of Elliott waves , it seems that the next corrective waves have started . I expect Bitcoin to fall at least to the Potential Reversal Zone(PRZ) . Note: An important point...
End of day update from us here at KOG: Price is moving as we'd hoped upside only we didn't get the retest of the low that we wanted. We were expecting it to be a quiet day but we've still got some decent movement for those who are in long from the open. Our first target region has been reached 2350-55 where we're seeing a slight RIP, however, nothing...
The EGX30 index, a benchmark for the Egyptian stock market, faces a critical challenge: the concentration of its weight among a few large companies. As of May 28, 2024, the top three constituents – Commercial International Bank (CIB), Talaat Moustafa Group, and Sweden Electronics – account for a staggering 50% of the index's weight. This excessive concentration...
GOLD again failed to hold the previous ascending channel and dropped into the next one. The chart is trading near the trend line. The price is under the 62% retracement level. We expect the decline to continue. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
USDCAD is moving above the trend line in a descending channel. After a false breakout of the upper boundary, the price has returned to the channel. The chart is holding under the 50% retracement level of the last bullish impulse. We expect a decline in the channel after a retest of resistance. ------------------- Share your opinion in the comments and support...
After overnight short orders hit TP: 2343 this morning, gold has been fluctuating within the 2340-2345 area. Judging from the current gold trend, the downward trend of gold has slowed down, and it has rebounded again in the short term and exceeded the 2340-2345 area. But the weak situation has not changed.There are two voices in the current market. One is that...
Bitcoin price action has literally bored market participants into a gelatinous state of perpetual apathy. That’s about to change. Why? 1) Price action and RSI resistance breakouts. See daily chart below. On the 8hr chart above (using Heikin Ashi candles for cleaner reading): 2) A trend reversal is evident with the first higher low since April 3rd. Green...
High flyer for the year with a decent dip now. Major support here with a Golden Genesis fib. Good possible long entry with SL just below. $ 34.74-35.50 is the immediate support. $ 33.01-33.21 is next support but minor. $ 25.66-25.81 way below is ULTRA strong. =======================================
There is a classic price action support zone and we have liquidity behind it. After collecting this liquidity it will grow up to the top of channel. Can play in this channel for a while And it will break this channel from top and first target is about to 90k
Upon examining the updated chart for EUR/USD, it appears our previous analysis was profitable. Let's break down the current chart and provide an updated intraday analysis based on the new information provided. Previous Day Analysis Review In our previous analysis, we noted key support and resistance levels, the short-term upward channel, and the highlighted...
Hello, subscribers! Nice to see you all. Please share your personal opinions in the comments. Don't forget to like and subscribe. Recently, a Japanese currency policy official mentioned that Japan could intervene in the foreign exchange market at any time, causing the dollar to temporarily dip. However, remarks by high-ranking ECB officials suggesting a possible...
there, two different bearish formations were present. There was a bear flag as taken from a bullish channel that arrived after a test of the .8500 handle; and bigger picture, there was a descending triangle present with that .8500 level helping to set horizontal support. The other side of the matter, however, was a relative dearth of volatility so far in 2024...
Hello traders, I want share with you my opinion about Gold. Observing the chart, we can see that the price started to trades inside the upward channel, where it soon reached the support level, which coincided with the support area, but at once rebounded down to the support line of the channel. After this price bounced up from this line, broke the 2330 support...
While Ethereum looks bullish over the longer term, price would need to break above the two lines of resistance for the chart to stay bullish. If price rejects here, we risk a double top which would send price back to the low $2000s. I'm leaning towards a rejection as the base case here as sentiment is pretty extreme to the bullish side. Let's see what happens...
EURUSD has created a bullish flag pattern following a break above a significant daily resistance level, which is now acting as support. The pair experienced a correction as it became overbought. The price fell within the bullish flag pattern and bounced sharply upon testing the broken structure. To confirm the bullish trend, look for a breakout above the...