Hello everyone, let's dive into the current dynamics of USDCAD! Right now, USDCAD is forming what looks like an inverted cup and handle pattern, as depicted in the chart. Keep an eye out for a potential sell entry around the 1.365 level if a breakout occurs as anticipated. If things go as planned, we might see this currency pair make a move towards the 1.356...
πββοΈBitcoin is moving near the Resistance line , 50_SMA(Daily) , and slightly above the π΄ Resistance zone($66,050-$64,520) π΄. πAccording to the theory of Elliott waves , Bitcoin seems to have succeeded in completing the Double Three Correction(WXY) . πFrom the point of view of Classical Technical Analysis , it seems that Bitcoin has managed to form a ...
The price of gold experienced a modest decline towards the end of Tuesday's trading session in the U.S. after reaching a high of 2,334 USD. During the Asian trading session the following day, XAUUSD continued to drop to 2,323 USD, marking a decrease of 0.11%. Despite the weakening of the U.S. dollar following the release of weaker-than-expected U.S. PMI data, gold...
By checking the gold chart in the 1-hour time frame, we can see that after growing to $2331, the price went down and corrected to $2312! By stabilizing the price below the range of $2316, we can expect more fall from gold! The possible targets of this drop are $2309, $2303 and $2284 respectively! If the price drops to $2303, we will probably see a relative demand...
Pair Name : CAD/JPY π¨Time Frame : 4hrs Chart / Close βScale Type : Large Scale ------ π spreading knowledge among us and to clarify the most important points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money βοΈ Key Technical / Direction ( Short ) Type : Mid Term Swing βββββββββββ Bearish Reversal...
EUR/USD responded to new demand and rose to 1.0750 in the European trading session on Thursday. From a technical perspective, a positive signal is emerging as EUR/USD may be forming aa cup and handle. In this scenario, the expectation is for the price to continue rising to the first resistance level at 1.0727, followed by the psychological milestone of 1.0885.
BTCUSD continues to maintain its recovery, holding strong above the $66,000 mark. Currently, this cryptocurrency is still in an uptrend, with new support levels being established. Looking at the technical analysis chart, the 34 and 89 EMA lines are beginning to converge, suggesting that the next trend could be a continued upward movement. Resistance at $67,690 is...
FX:XAUUSD is moving out of the sideways range downward. The price is testing 2328 within the framework of correction on the background of news. Earlier, the structure of the bull market was broken, which in general can determine the medium-term potential. βGOLD β Bears win. Downward counter-trend correction ββ The price is testing 2328, which is actively...
USD/JPY is currently at multi-decade highs, closing at 155.00. Traders are exercising caution due to increased risks stemming from Japan's forex intervention. The recovery of the US dollar (USD) is bolstering the upward momentum of USD/JPY. From a technical standpoint, the pair is trading above the Simple Moving Averages (SMA), indicating a stable uptrend....
Yesterday's gold market trend was highly consistent with our expectations. We emphasize the changes in the rhythm of long and short, and believe that there is the possibility of an increase after the decline. According to the current trend, gold may remain volatile and strong today and may continue to rise. Although the market has changed significantly recently, I...
Hello everyone, what do you thinkβshould we buy or sell gold today? Currently, gold is trading around $2,323 per ounce, showing little fluctuation since the start of the day, with a continued downtrend. Gold has weakened as tensions in the Middle East show signs of easing and investors are taking profits and reducing leverage in their trades of this precious...
Pretty simple here, we have a bear flag setup after the monster 10% down day. Looks juicy to short
SOLUSDT is enjoying a robust uptick for the fourth consecutive day, trading around $159.02 with a notable daily increase of approximately 2.70%. This ongoing rally has propelled the coin to the critical 0.618 Fibonacci retracement level, a juncture that warrants close attention as sellers may attempt to drive the price back down below the $133.00 mark. On the...
ETHUSDT is currently trading around $3249, marking a recovery of 0.93% today. However, there's still a fair amount of risk involved as the downtrend channel and the descending trendline haven't been broken yet. I'm sticking to a sell strategy for when it hits the $3542 resistance and approaches the trendline once again. What about you? What are your thoughts on...
Hello everyone, Today, EUR/USD remained above the psychological barrier of 1.0700 during the early Asian trading session on Wednesday. Weaker-than-expected April PMI data from the U.S. pushed the dollar lower, providing support for this currency pair. From the technical analysis chart: The price rebounded from the lower boundary of the parallel price channel and...
As idle cash looks to find a strong and secure yield, it is no wonder that the New Zealand Dollar has benefited from the current Euro-Zone crisis. Pairs such as the Australian Dollar and New Zealand Dollar are often viewed as a proxy for Chinese growth and thus have performed well against the Euro in recent years. Although Chinese growth may become a cause for...
GBP/USD is the forex ticker that shows the value of the British Pound against the US Dollar. It tells traders how many US Dollars are needed to buy a British Pound. The Pound-Dollar is one of the oldest and most widely traded currency pairs in the world. Follow the live GBP/USD rate with the chart and keep up to date with Pound-Dollar news and analysis. Plan your...