BNXUSDT → Stronger than BTC? How will this affect growth? BINANCE:BNXUSDT is forming an interesting pattern. A symmetrical triangle is formed on the chart and after shaking from below the price strengthens and breaks the resistance, which in general prepares the coin for further growth.
Technically, BNX is feeling better than BTC and looks strong enough to continue growing.
The price is breaking through the resistance of the 0.6200 range and is consolidating above this line on the low timeframes, while the cryptovalent market is in correction, following bitcoin, which is updating local lows.
If the bulls in BNX keep the price above the previously broken triangle and above the 0.6200 level, it will cause further gains towards 0.74 and 1.0
Resistance levels: 0.6200
Support levels: triangle resistance, 0.5663
Technically, the coin has the potential for further growth. We are waiting for consistent actions from the bulls with the purpose of realization
BINANCE:BTCUSD CME:BTC1! CRYPTOCAP:TOTAL CRYPTOCAP:TOTAL2
Regards R. Linda!
FLAT
GOLD → Reached 2300. What's next, going higher or correction?FX:XAUUSD breaks records and updates the high to 2305, but technically, the implied target is still not reached. Today Initial Jobless Claims before NFP is published and the market may go into a consolidation phase.
On D1 we see the dollar declining after a false break of the resistance at 104.94 as well as the downside resistance. Ahead of Initial Jobless Claims, in general, traders are waiting for neutral-negative data, the situation is still complicated, but Powell is trying to keep the market from Panic with his statements.
Obviously, after the release of PMI and JOLTS data the Fed will not change the policy based on Q1 data. What is happening in the market now is emotion, but many people take it seriously. Still, we should wait for more important and factual data than just words in the air.
The inflation rate in January-February was higher than in 2023, which was the reason for the panic "inflation will be even higher and rates will be held for longer". But, the latest data doesn't change the situation significantly.
2300 may become a key psychological level for gold and cool down the market a bit, which may form a correction. There are still some areas of imbalance that the market maker may test before resuming the rise to the resistance level formed on the monthly timeframe.
Support levels: 2288, 2265, 2253
Resistance levels: 2300, 2325, 2337
Technically, a small correction to liquidity zones may start before further rsoot towards psychological levels
COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY
Regards R. linda!
GOLD → A correction before further growth?FX:XAUUSD has been forming a small correction towards liquidity zones since the opening of the session. On the background of strong bullish trend it is quite logical scenario before the news publication.
The dollar index is testing a strong resistance before the news and a correction is possible, which will only strengthen the growth of gold. But, it is impossible to determine in advance what kind of news it will be (bullish or bearish for the dollar). Traders expect bullish: ADP NonFarm, ISM PMI, and bearish: SP PMI. Also, the big question is what Powell will say tonight....
Technically, gold is still in a bullish trend. And it may continue after a correction.
Resistance levels: 2288, 2300
Support levels: 2265, 2253, 2228
Technically, the market is bullish. A retest and false breakout of one of the above areas could strengthen the price again. But, the structure may break when the channel resistance (as support) or 2228 is broken, in which case the correction will be prolonged to lower zones.
Regards R. Linda!
GBPJPY → Correction on the background of a bullish trend FX:GBPJPY forms a false break of trend resistance, after which the market enters the correction phase. The technical event coincides with the fundamental one - the Central Bank starts to regulate the currency policy of Japan more strictly.
Even against the background of rising interest rates in Japan, traders are still bearish. The currency pair as a whole is declining on the background of the pound sterling falling while the dollar is growing, but the Japanese Yen is standing still, but the candlestick setup on D1 hints at the soon beginning of the fall, which can strengthen the currency pair.
A retest of the trend support or one of the strong levels before further growth is possible.
Resistance levels: 190.5, 191.32
Support levels: 189.69, 188.82
Technically, the bullish trend may continue after the correction ends. The area of 189.7 - 188.82 may again have a bullish influence on the currency pair.
Regards R. Linda!
GOLD → The market's buying back the fall. Next up, 2300?FX:XAUUSD is still very strong. The price does not react to the news properly, only as a short-term reaction. The market is quickly buying back the decline and testing resistance.
Buying potential is quite strong, the probable area of the first stop could be the zone 2300-2325. On H1, an intermediate sideways range is formed after a false breakdown of channel resistance. The price defines the lower boundary as 2228 without reaching the strong support at 2222, which indicates that the bulls are very much keeping the price away from risk zones. A retest of the resistance is formed and there is a high chance to see a false breakout or a bounce followed by a correction, which may become a consolidation phase before further growth.
Resistance levels: 2265
Support levels: 2228
High interest to the metal from investors, central banks favorably affect the strengthening of the metal, besides the role of hedge asset is now more than ever manifested in the market. Gold will try to break the resistance for further growth, as there is no hint of a change in the global trend
COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY
Regards R. Linda!
GOLD → A false break of $2265 will lead to a retest of support FX:XAUUSD has been reaching 2265 since the open. The price is moving out of the ascending price channel, which indicates a strong bull market. But, there is a huge imbalance area forming below, which can be liquidated before further growth.
The dollar is also strengthening and the market is waiting for bullish news on the index today. In this case it may give a small correction wave for the gold market. Moreover, there is a huge area of imbalance at 2265-2222, in which case it would be logical to expect a retest of the previously broken channel resistance or even key support before a further rise.
Resistance levels: 2265
Support levels: channel resistance 2245, 2222
Technically, we can expect a correction after the rally. The trend may continue from these support zones.
Regards R. Linda!
EURUSD → The pair is ready to continue the bearish trend FX:EURUSD is not going to change the global trend yet, continuing to break support zones with the aim of further declines on the back of the dollar index growth.
The dollar index is preparing to strengthen further. The price is breaking the trend, which is generally negative for the currency pair. Today the market is waiting for PMI. In general, the data is expected to be better than in the previous period, but it is worth paying attention to the actual data in relation to the expected data.
Technically, price consolidation below 1.07958 will form a bearish potential and further momentum towards 1.0700.
Resistance levels: 1.08597
Support levels: 1.07958, 1.0703
The currency pair is ready to continue the trend. Consolidation of the price below this level may be the beginning of the impulse.
Regards R. Linda!
GOLD → Previously untouched terrain. Correction or growth?FX:XAUUSD is a pioneer. The price is testing new highs in a new, previously untouched zone. High interest in the metal, rumors and crisis leads to the fact that the growth of gold outpaces the growth of the dollar.
Dollar Index (D1) Breakout of resistance and news
The dollar is also rising. The price of the index has been supported by regulators for an extended period of time. The price is moving into a new range. What is interesting is that against the background of USD appreciation, gold is also rising in price. But this has its own reasons: the expectation of a rate cut, according to Powell, 3 rate cuts are expected in 2024. High interest to gold as a hedge asset, as well as the huge buyout of metal by central banks, which only fuels the price to strengthen.
Gold (H1). Key levels and technical situation
Technically, gold is at its highs. On D1 the price is testing the exit from the existing price channel. The closing of the session on Friday indicates that the market will try to move higher.
The only thing that confuses me is the price going outside the global channel on the background of distribution, the metal, from the technical point of view, has no potential to overcome this boundary from the first time. A pullback or consolidation is possible.
It is worth paying attention to two price levels: 2235 and 2222. A breakthrough of the upper boundary with the subsequent consolidation of the price above this level will continue the growth. The expected target in this case could be 2250.
A break of the lower level may activate the liquidation of buyers, which will form a correction to 2212, 2200
Regards R. Linda!
AUDUSD → Price is getting ready to break support FX:AUDUSD is forming a downtrend amid the growing dollar index. The currency pair is under pressure from sellers.
Support level 0.64039 is forming on D1, which continues to hold the market. But, the buyers' urge may be broken, as the price continues to squeeze to the support and is gaining potential for this. On the background of the rising USD and weakening Aussie, the sellers have high chances. The target in this case will be the area of 0.6443 and 0.6352.
Resistance levels: 0.6540
Support levels: 0.6504, 0.6443
Technically, the currency pair has a negative background and most likely the decline will continue. A break of this support will give a bearish impulse.
Regards R. Linda!
GOLD → Buyer imbalance within the range. Liquidation?FX:XAUUSD is testing resistance once again very slowly and gradually, protecting local support zones, below which a huge pool of liquidity is formed. What to expect from the market maker?
On the background of growth and retest of the range resistance we see low volumes. The range is narrowing and technically this could indicate a willingness to break resistance. But I stick to the format that the market maker is gathering all buyers to further liquidate. The chart shows localized areas of liquidity and none of them have been tested in the last 2 weeks. The market will never let the crowd make money. A retest of the far resistance is possible before further liquidation of all buyers inside the range.
Resistance levels: 2195, 2212, 2222
Support levels: 2186, 2180, 2166, 2150, 2144
Technically, there is a huge imbalance of buyers inside the range, clearly, the market maker has a "liquidate buyers" item set on the checklist. Price is still in the range, and I am still waiting for a retest of the lower liquidity areas, which for many on the current chart may seem unacceptable. Let's see
TVC:DXY COMEX:GC1!
Regards R. Linda!
🇬🇧 GBPUSD 🇺🇸 - Sellers' liquidation before further decline GBPUSD is preparing to test the support. The price has been forming consolidation since the opening of the session. Most likely, local resistance may be tested with the aim of liquidating sellers with further decline to the potential target of 1.28.
Reasons for further decline:
1) Dollar rises on news, this is negative for GBP
2) False breakdown of 1.28 forms a potential for a decline
3) The target is the accumulation of orders below 1.25.
4) Neutral trend, range. Resistance is tested, target is support
GOLD → Trading inside the range. Target is support FX:XAUUSD is trading inside the range. The markmet-maker is liquidating sellers relative to the 2180-2200 area, after which it forms a false breakdown of 2195 and returns to the range again.
On D1 everything is the same. The market continues to form a sideways range. There are no reasons for the price to leave 2195-2144. After testing the upper part of the range, the market still has targets below 2166, especially the area of the lower boundary of the flat, as there is a huge amount of liquidity hidden there, which is clearly of interest to traders. Consolidation below 2180 may favorably influence the price down to 2166. A break of 2166 will send the price to 2150 and 2144.
Resistance levels: 2180, 2186
Support levels: 2166, 2150, 2144
Technically, the local trend is neutral. It is acceptable to trade both buying and selling. But the market has an unclosed gestalt within the range trading: liquidity area 2150-2144
TVC:DXY COMEX:GC1!
Regards R. Linda!
GOLD → Range trading. What is the importance of the 2144 area?FX:XAUUSD is trading inside the global range, forming a small flat inside. Consolidation continues and at the moment there is no reason for the price to leave the 2195-2144 channel.
On D1 and H4 we see a sideways channel, a range. The market is clearly bullish, but at the moment the price is standing still. On the left side of the chart we see local liquidity zones, which the market maker will gradually reach. But, the most interesting thing is that the main gestalt is not closed yet: the strong support at 2144 has not been tested yet, and neither has the liquidity in this zone. On H1 we see an upward movement. The target of such a move could be the 2180-2185 area, or range resistance with a subsequent decline to targets below. A standard trading situation inside the range is being formed.
Resistance levels: 2186, 2180, 2195
Support levels: 2166, 2150, 2144
Within the mentioned flat, the price is trading between the zones, levels, forming consolidation. There is an important area inside the range, which has not been tested yet, hence, the market may head from the resistance to the indicated liquidity zone below
COMEX:GC1! TVC:DXY COMEX_MINI:MGC1!
Regards R. Linda!
EURUSD → Resistance pressure on the bearish trend FX:EURUSD is testing the support of the range formed inside the bearish trend. There is resistance pressure in the market.
Bostic ( Fed ) stated that he now expects only one interest rate cut this year, thus this comment can be read as a hawkish attitude of the regulator. Bostic is often aggressive in his comments after Powell's speech
The dollar index are in a bullish phase, which has a negative impact on the euro. On H4, the price is bouncing off the support and may test the nearest resistance before further declining on the trend.
Resistance levels: 1.08597, 1.08975
Support levels: 1.07958, 1.07030
Technically, against the background of bearish trend, the resistance may affect the price accordingly, which may lead to a retest of the support with a subsequent breakout and decline.
Regards R. Linda!
GOLD → Trading within the range between levels FX:XAUUSD is forming a correction after a false breakdown of the resistance of the range. Against the backdrop of a strengthening dollar index, pressure from resistance appears in gold.
The market is starting to bet that the Fed will not cut rates this year. At the same time Bostic (Fed) said he now expects only one Fed rate cut this year following Powell's comments about a pledged 0.75% cut in 2024.
Gold on D1 in the 2195, 2148 range. The candlestick setup is bearish and most likely inclined to see the decline continue. The target in this case is the area of 2150-2145. On H1, the market is forming pressure from sellers on the background of strengthening dollar index.
Resistance levels: 2172, 2177
Support levels: 2166, 2156, 2150, 2144
Technically, within the range gold may test the liquidity area 2150-2145 as it is a tidbit for both market maker and traders at the moment
TVC:DXY COMEX:GC1!
Regards R. Linda!
GOLD → Retest of liquidity area before further growth FX:XAUUSD corrects after testing $2222. News on Thursday shook the market after Powell's dovish statement on Wednesday, which spurred a false breakdown and a 2.5% fall
Yesterday the market met a bullish wave of news for the US market: Initial Jobless Claims down, PMI up, overall this is a locally positive scenario, but today at 13:30 Powell speaks, who can probably remind some of the things he said on Wednesday.
Technically, gold is forming a retest of the 2166 support, which prepares us for a continuation of the decline that could happen before the news to test the strong liquidity area. But, Powell's speech may refresh traders' memory again. In this case, the market may resume the growth phase again, as the general fundamental background for gold is favorable for further growth.
Resistance levels: 2172, 2183
Support levels: 2166, 2152, 2144
Now on H1-H4 a range is forming and price is heading towards support - a classic trading strategy inside a range is to trade from its boundaries. Pay attention to today's speech of the Fed Head. His words can both cheer you up and shock you ;)
CAPITALCOM:DXY CAPITALCOM:GOLD COMEX:GC1!
Regards R. Linda!
GOLD → New Horizons. Price opens a new rangeFX:XAUUSD is getting a good medium-term signal on Powell's words yesterday. Metal is trampling its way into new horizons and probing new highs. Today the market is waiting for Initial Jobless Claims and PMI.
M1 timeframe is pointing us to the approximate medium term potential which is capped at $2380-2400, price has entered a new bullish range. Yesterday's news from Powell gives the market the realization that the overall situation is improving and the time when the dollar will start to slacken on the back of rate cuts is getting closer. On the background of the news, investors continue to buy gold even more, as well as central banks of many leading countries of the world, which only favorably influences the price.
Resistance levels: 2212, 2222
Support levels: 2200, 2195, 2175
Technically, the gold may test the support before rising further. The trend is strongly bullish. The liquidity area at 2195 plays an important role at the moment on the background of today's news, which is published at 12:30 GMT
TVC:DXY COMEX:GC1! CAPITALCOM:GOLD
Regards R. Linda!
INJ Bull Run Started or Not ?In my point of view INJ has two scenarios at the current market price. That is it can be the 3rd wave or the flat correction of 2nd wave. More likely to be a 3rd wave let's see
GOLD → Waiting for the news. What are the odds of a fall ↓ ?FX:XAUUSD is trading under resistance pressure. The market is still forming a downward correction channel after a strong rally. Ahead of important news that will determine the medium-term outlook.
The price is testing the correction resistance, but at the same time sellers are still holding the market back. Buyers do not let the price go beyond 2145-2150, thus a bearish pattern like a descending triangle is formed on the chart. The market still has a chance to break the support and this set-up has a high probability.
The news is coming and everyone is waiting for what Powell has to say about the rate and inflation. His words may determine the medium-term outlook for the market.
Resistance levels: 2160, 2163
Support levels: 2152, 2144, 2125
I am still inclined to believe that we have a fall ahead of us (globally - false breakdown of 2145-2150). Before that, on the background of news, the price may retest the resistance. The main prospective target is the price decline on the background of strengthening of the dollar index.
Regards R. Linda!
GOLD → Correction + bearish set-up. What to expect from XAU?FX:XAUUSD is being held very tightly within the downward correction channel. The fundamental background on the market is weak, at this time the dollar is growing, which in general negatively affects the price of metal.
Set-up on H4 shows us a strong resistance on the market. In general, this is due to the negative fundamental factor because of the economic news, which generally supports the dollar index. There is a pattern forming on the chart that could break the support formed in December 2023 (2145-2150) In this case a false breakout could occur. Statistically, the strongest moves occur after a false breakout. A breakout and consolidation below 2145-2150 may initiate a strong decline to the liquidity areas indicated on the chart.
Resistance levels: 2156, SMA
Support levels: 2144, 2125, 2100, 2075
I expect a retest of 2145-2150 with a bounce. If the price quickly returns to this support, the chances of a breakout will then increase. Fundamentally and technically, the gold market is showing weakness, so we should expect a negative scenario at the moment
TVC:GOLD COMEX:GC1! MCX:GOLD1! TVC:DXY
Regards R. Linda!
AUDUSD → The Bears continue to dominate. Waiting for the fall FX:AUDUSD continues to form a downtrend in the medium term. There is no way the Australian dollar can change the trend against the backdrop of a consistently strong US dollar.
Global and local trends coincide and have a downward trend. The dollar index continues to trade on the wave of positive economic news. Most likely in the future the currency pair will continue its decline. On H4 we are interested in the level of 0.6535. Consolidation of the price below this zone will form the potential for further decline. Medium-term targets in this case will be 0.6443 and 0.6352.
Resistance levels: 0.6535
Support levels: 0.6443
The bearish trend formation is likely to continue. The dollar is strong and is not going to give up its positions, which generally has a negative impact on the currency pair.
Regards R. Linda!
GBPJPY → The bullish trend may continue for a long time. Why?OANDA:GBPJPY has been forming a bullish trend for 4 years. This trend may continue its growth as the national currency of Japan is not going to strengthen.
On W1 we see a clear trend within the global range. The target in the medium and long term could be 195.844. On H1 there is a beautiful price channel and flat. Within the flat price is trading between levels, earlier there was formed a capture of liquidity from the support at 188.83 (false breakout), which in this case formed a sufficient potential for further growth, as the key liquidity, which is now interested in the market, is located above 191.33.
Resistance levels: 190.08, 191.33
Support levels: 188.83, 187.96
In the near future we expect a breakthrough of resistance at 190.08 with further consolidation of the price above this area, which will form the potential for growth to the target
Regards R. Linda!
EURUSD → Weak fundamental background and trend change FX:EURUSD is testing the local channel support. The probability of a breakout attempt is quite high, as the currency pair is trading on a negative fundamental background.
The dollar is strengthening after a wave of positive news, at the same time EURUSD is hitting a strong resistance at 1.0949 on D1. A bearish candlestick is being formed with the session closing at the low point. Based on the candlestick pattern on Thursday, we can assume that the negative fundamental background is favorable for further decline, and the market is not finished moving yet. Consolidation below 1.08975 and breakout of 1.0880 will form a potential for further fall.
The zones of 1.07958 and 1.0724 could become a target
Support levels: 1.0880
Resistance levels: 1.08975
I expect a retest of resistance followed by a breakout of support. The market is trying to change the local trend and with a high probability it can do it
Regards R. Linda!
