Hello everyone, This dawn, the global gold price continued its ascent, marching confidently towards $2260 from last week's close. This week, the gold market is expected to witness substantial fluctuations as it reacts to significant US economic indicators. Beyond last Friday's inflation data, the market is also keenly anticipating the March Non-Farm Payroll...
As the new week unfolds, gold has continued its remarkable ascent, surging by nearly $25 to touch $2265 in the initial trading hours of Monday. This historic rally is driven by investors flocking to gold as a haven asset amidst escalating economic uncertainties and the anticipation of interest rate cuts. Furthermore, the concerted effort by central banks...
Hey Traders, in today's trading session we are monitoring GBPCAD for a selling opportunity around 1.71200 zone, GBPCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.71200 support and resistance area. Trade safe, Joe.
Based on the indicators on the 1-hour chart, Relative Strength Index (RSI) is hovering around 40 and the price is below the 20, 50, and 100 Simple Moving Averages (SMA), indicating a downward trend phase. If the price continues to decline and breaks below the support zone at 1.2590, there is a likelihood of a more significant downtrend in the near future....
Currently, technical indicators such as RSI and SMA indicate that Bitcoin is in a downward trend. Specifically, the price breaking through the support level of 69.017 signals that the downward trend is likely to persist, potentially pushing the price down to the support level of 68.450, and may lead to a more significant price decline.
On the 1H chart, based on the RSI indicator, we observe that the price of the USD/JPY pair has surpassed the overbought threshold, indicating increasing buying pressure. However, to make trading decisions, it is essential to consider other factors such as economic news and the global market situation.
Hello,Friends! SILVER pair is trading in a local uptrend which we know by looking at the previous 1W candle which is green. On the 8H timeframe the pair is going up too. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is...
Hello,Friends! GBP/AUD is trending down which is evident from the red colour of the previous weekly candle. However, the price has locally surged into the overbought territory. Which can be told from its proximity to the BB upper band. Which presents a beautiful trend following opportunity for a short trade from the resistance line above towards the demand...
Hello,Friends! We are going short on the EUR/CHF with the target of 0.960 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band.However, we should use low risk here because the 1W TF is green and gives us a counter-signal. ✅LIKE AND COMMENT MY IDEAS✅
Hello,Friends! GBP/NZD pair is in the uptrend because previous week’s candle is green, while the price is obviously rising on the 1D timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 2.079 because the pair overbought due to its proximity to the upper BB band and a bearish correction is...
Please, check our technical outlook for GOLD. Time Frame: 4h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 2250.313. Taking into consideration the structure & trend analysis, I believe that the market will reach 2222.660 level soon. P.S We determine...
Please, check our technical outlook for USDCAD. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is on a crucial zone of supply 1.358. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 1.351 level. P.S The term...
Take a look at our analysis for USOIL. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 83.06. The above observations make me that the market will inevitably achieve 80.08 level. P.S Overbought describes a period of time where there has been a...
Currently, the price of the EUR/USD currency pair is hovering around the level of 1.0780. Based on technical analysis, the overall trend in the market is showing a downward movement for this currency pair. One of the commonly used indicators, the Relative Strength Index (RSI), is below the 50 level, indicating a weakening buying momentum in the market....
a deep fall possibility be careful for your long positions ( many thanks to Ms.Amiri <3 )
Hey Traders, in today's trading session we are monitoring EURUSD for a selling opportunity around 1.07950 zone, EURUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.07950 support and resistance area. Trade safe, Joe.
Hello everyone! The global gold price held steady on March 29th (US time), pausing for the Good Friday holiday. Spot gold is currently anchored at 2,233 USD per ounce, maintaining a robust upward trajectory. The ascending channel is active, with no signs of peaking yet. However, I anticipate some price adjustments next week as the price approaches the trendline's...
Greetings, EURUSD traders! As we bid adieu to the week, the EURUSD pair has steadily painted a canvas of decline, seemingly aloof to the market’s whispers and headlines. The downtrend narrative continues to unfold with unwavering consistency within its well-established bearish corridor. Currently poised at 1.078 USD, the scales seem to tip in favor of the...