XAUUSD: Bullish Opportunity After FOMC and Economic DataHello all traders, this article will help you understand the market context and trends.
Yesterday, the FOMC meeting minutes were released, showing broad consensus on maintaining interest rates, which encourages investors to turn to gold as a safe-haven asset , increasing demand for XAUUSD. The higher-than-expected unemployment claims data (235K vs 226K forecast) indicates a weaker labor market, putting downward pressure on the USD and driving gold prices higher. However, the better-than-expected Flash PMI manufacturing index (53.3 vs 49.7 forecast) helped the USD rise slightly, but the impact was minimal.
Technical Analysis:
XAUUSD is trading in a downtrend channel, but the signals are unclear. Immediate support is at 3,312.000, an important level that has been tested and held. Currently, XAUUSD is near a small resistance zone at 3,353.000, with potential targets at TP1: 3,353.000 and TP2: 3,375.000 . Both EMA (89) and EMA (34) are sloping upward, confirming the strength of the uptrend.
Market Strategy:
Buy XAUUSD when the price pulls back to the support level at 3,312.000, with targets at 3,353.000 and 3,375.000.
Risk Management:
Monitor support at 3,312.000. If this level breaks, XAUUSD could correct to 3,270.000. Use a stop-loss below this support level.
Do you think gold can continue its upward trend, or will a correction appear?
Technical Analysis
Weekly $SPY / $SPX Scenarios for August 25 – 29, 2025🔮 Weekly AMEX:SPY / SP:SPX Scenarios for August 25 – 29, 2025 🔮
🌍 Market-Moving Themes
Jackson Hole aftermath 🏔️
Powell’s Friday keynote sets the tone. Markets will trade on whether he opened the door to a September cut or stuck to a cautious stance. Expect chop in AMEX:SPY , NASDAQ:TLT , TVC:DXY as traders recalibrate.
Inflation & Jobs 🔥💼
Fresh PCE inflation and jobless claims anchor the week. Any upside surprise revives “higher-for-longer”; softness = fuel for cut odds.
Retail earnings wrap 🛒
With $WMT/$TGT/ NYSE:HD behind us, discounters and specialty retailers close the season. AMEX:XRT stays a barometer of consumer resilience.
Housing & confidence 🏠📉
Pending Home Sales + Conference Board Confidence will test sentiment in an affordability squeeze backdrop. Watch AMEX:XHB , $XLY.
📊 Key Data & Events (ET)
📅 Monday, Aug 25
Chicago Fed National Activity Index (8:30 AM) – broad growth pulse.
Dallas Fed Manufacturing Survey (10:30 AM) – regional check.
📅 Tuesday, Aug 26
Durable Goods Orders (8:30 AM) – capex signal; core ex-transport key.
Richmond Fed Manufacturing Survey (10:00 AM) – factory health in Mid-Atlantic.
S&P CoreLogic Case-Shiller Home Price Index (9:00 AM) – housing momentum.
Conference Board Consumer Confidence (10:00 AM) – labor intentions, rate sentiment.
📅 Wednesday, Aug 27
MBA Mortgage Applications (7:00 AM) – weekly mortgage pulse.
Advance Economic Indicators (8:30 AM) – trade, inventories, wholesale.
Pending Home Sales (10:00 AM) – affordability and turnover test.
Crude Oil Inventories (10:30 AM) – $CL_F/ AMEX:XLE driver.
📅 Thursday, Aug 28
Initial Jobless Claims (8:30 AM) – labor cooling watch.
GDP (2nd Estimate, Q2) (8:30 AM) – growth momentum, revisions matter.
Kansas City Fed Manufacturing Index (11:00 AM) – regional survey.
📅 Friday, Aug 29
PCE Price Index (Jul, 8:30 AM) – Fed’s preferred inflation gauge.
Personal Income & Outlays (8:30 AM) – consumer demand and savings rates.
Chicago PMI (9:45 AM) – manufacturing signal ahead of ISM next week.
UMich Consumer Sentiment (Final, 10:00 AM) – inflation expectations track.
⚠️ Disclaimer: Educational/informational only — not financial advice.
📌 #trading #stockmarket #economy #SPY #SPX #Fed #PCE #GDP #Housing #Confidence #Energy #Bonds #Dollar
GOLD to $3,450? The Most Important Breakout of 2025
🔥 Gold has been one of the most talked-about assets in 2025, and now it’s testing the critical $3,370 resistance zone once again (price at $3,372 as of Aug 24).
📈 Bullish Case:
If gold breaks and closes above $3,370, we could see momentum push toward $3,390–$3,395 in the short term.
📉 Bearish Case:
If rejected here, support remains strong around $3,325–$3,330, aligned with the 100-day SMA.
👉 Do you think gold will finally break higher this week, or get rejected again? Drop your thoughts in the comments
Disclaimer:
This is not financial advice. Shared for educational purposes only.
GBP/USD Soars Sharply: Can This Breakout Hold?Technical Analysis:
Price Pattern: GBP/USD is currently in an uptrend with strong support at 1.34300 and resistance near 1.35900.
EMA: The 34-period EMA has crossed above the 89-period EMA, indicating the strength of the uptrend.
Signal: Price has just broken through the 1.35200 resistance zone, suggesting that the strong uptrend may continue.
News:
After remarks from Fed officials at the Jackson Hole Symposium, the USD weakened, allowing GBP/USD to benefit and providing an opportunity for further gains.
Trading Strategy:
Uptrend: If price stays above 1.35200, the pair could continue rising, targeting 1.35900 and potentially 1.36500.
Support Levels: If price pulls back and holds above 1.34300, the uptrend will be further confirmed.
USD/JPY: Weak USD Drives the Pair LowerUSD/JPY is currently trading within a descending channel, with near support at 146.400 and resistance at 148.500. After a strong pullback from 148.500, the price is trying to hold around 146.400.
News: The weakness in US economic indicators (GDP and CPI weaker than expected), along with remarks from Fed officials supporting a more cautious monetary policy, have caused the USD to weaken, providing space for pairs like USD/JPY to adjust lower.
Additionally, slower growth in the US economy and concerns over the Fed's rate hike potential have made the USD less attractive, especially compared to the Japanese yen, where monetary policy remains cautious.
Strategy: If the price breaks below 146.400, the downtrend could continue, targeting 146.000.
EURUSD: Support & Resistance Analysis For Next Week 🇪🇺🇺🇸
Here is my latest support and resistance analysis
for EURUSD for next week.
Consider these structures for pullback/breakout trading.
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Nifty Forms Shooting Star – Is Septmber Correction on the Cards?Nifty closed this week at 24,870, up 240 points from the previous week’s close. It made a high of 25,153 and a low of 24,852, once again respecting my projected range of 25,100 – 24,300.
But here’s the key: this week, Nifty formed a Shooting Star candle, which is a bearish reversal pattern. As long as Nifty stays above 24,852, bulls are safe. But a break below this level could trigger downward pressure toward 24,400.
📊 Next Week’s Range:
➡️ Likely range → 25,350 – 24,400
➡️ Break below 24,852 = bearish pressure
➡️ If 24,400 breaks, 23,900 could come into play
Historical September Pattern:
From the 2nd week of September, markets have historically shown 6–11% corrections from their highs. If history repeats, within the next 10 days we could see another push toward 25,600/25,700, followed by heavy selling pressure.
✅ My Plan:
If markets rise in the coming days, I’ll be looking to cash out from existing positions and prepare to re-enter at better levels if a correction begins in the 2nd or 3rd week of September.
US Market Update – S&P500
The S&P500 bounced from 6,343 support and managed to close just 10 points higher than last week. Above its previous week’s high of 6,481, it has the potential to test the 6,568 Fibonacci level. Investors in US markets should trail their stop-loss to 6,330 to safeguard profits.
Want me to review any index or cryptocurrency for you? Drop it in the comments and I’ll cover it in my next update!
AUDUSD: Strong Uptrend Driven by Positive Economic DataTechnical Analysis:
AUDUSD is currently showing a strong uptrend, with resistance at 0.65500 and support at 0.64200. If the price stays above the support level, the uptrend will continue, with a potential target of 0.64860. However, if the price breaks below the support, a downtrend could be triggered. For now, with strong momentum from technical indicators, the uptrend remains favored.
Market Context:
Recent positive economic data from the US dollar zone has boosted the AUD, providing strong support for AUDUSD. Along with favorable macroeconomic factors, the AUD continues to strengthen against the USD, driving the pair into a stable uptrend.
Trading Strategy:
With technical signals and a favorable market backdrop, traders can consider buying AUDUSD when the price adjusts to the 0.64200 support, with a potential target at 0.64860. However, close monitoring of the support level is crucial, and a stop-loss should be placed below 0.64200 to protect capital if the market reverses.
Bitcoin Soars: Buying Opportunity with Strong Uptrend!On the BTCUSDT chart, Bitcoin is trading in an upward channel, with strong support at 111,900 USD. The next target for Bitcoin is 123,400 USD. If BTC holds support at 111,900 USD, the uptrend could continue.
News Impact:
Fed Chairman Jerome Powell hinted at a potential interest rate cut in September, weakening the USD and reducing bond yields, which has led to a flow of money into safe-haven assets like Bitcoin. Additionally, the Trump administration is calling for strong interest rate cuts, which could further weaken the USD and push Bitcoin prices higher.
Conclusion:
With supportive macroeconomic factors and a positive technical trend, Bitcoin could continue to rise strongly in the future. Investors can look for buying opportunities around the 111,900 USD support level and expect the price to reach higher targets like 123,400 USD.
Gold Soars! Buy Opportunity After Fed's Rate Cut Hint!In just yesterday's session, gold surged by +32.520 USD (+0.97%) , equivalent to more than 320 pips . A shocking rise caught the market off guard.
The cause was Fed Chairman Jerome Powell's speech at the Jackson Hole conference, where he hinted at the possibility of an interest rate cut as soon as September. This dovish message weakened the USD , reduced bond yields, and triggered a flow of money into safe-haven assets like gold.
Meanwhile, with calls for interest rate cuts from the Trump administration and concerns about an economic slowdown, gold is likely to rise in the future. President Trump criticized the Fed and called for aggressive rate cuts to boost the economy. If this policy is implemented, the USD could weaken further, making gold an even more attractive investment option.
Technical analysis: Traders may consider the next targets as 3,410 USD (TP1) and 3,434 USD (TP2). With EMA (89 and 34) indicators supporting the uptrend, investors might consider buying around 3,370 USD if gold experiences a slight short-term pullback, expecting the price to continue rising if macroeconomic factors remain favorable.
In conclusion, all factors are currently supporting gold's uptrend. We will continue to monitor developments in the coming days, particularly decisions from the Fed and global economic factors that may impact gold.
EURUSD Breakout and Potential RetraceHey Traders, in the coming week we are monitoring EURUSD for a buying opportunity around 1.17000 zone, EURUSD was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 1.17000 support and resistance area.
Trade safe, Joe.
LIC on the Rise!Chart structure indicates long positions favoredLIC Daily Chart Update
LIC is currently moving in a well-defined ascending parallel channel.
Alongside, a short-term descending parallel channel is also visible.
Both channels are showing strong lower boundary support in the 830–850 range.
If this support zone holds, we may witness higher prices in LIC in the coming sessions.
Thank you.
GH 3D: breakout forming inside ascending channelThe price of GH continues consolidating within the top of an ascending channel, confirming bullish structure. The rectangular accumulation has lasted for over three months, with price staying above all major EMAs and MAs - a strong trend confirmation. On the last impulse, volume increased, and now the price is compressing again. A breakout with a retest would serve as a valid entry. First target lies near 61.38, second at 73.66, and third at 87.37 - aligned with the upper range of the medium-term Fibonacci extension. Fundamentally, GH remains a promising biotech pick amid sector rotation and potential Fed easing. EMAs and MAs sit below price, and D/A supports the breakout scenario. Waiting for confirmation before entering.
Lemonade Inc.: Breakout in Motion — Cup, Flag, and No BrakesLemonade Inc. (LMND) is accelerating after a clean breakout from a textbook cup with handle pattern, where the handle formed as a tight bullish flag. The breakout occurred around $32, and since then, price action has been sharp, controlled, and uncorrected — currently trading at $42.42 with buyers clearly in charge.
On the fundamental side, LMND is moving through a recovery phase: operational losses are narrowing, revenue is stabilizing, and the company is aggressively leveraging AI to automate its insurance processes. Expansion into Europe continues, and institutional interest is visibly rising — confirmed by volume building alongside price. Within the insuretech sector, LMND is starting to look like a comeback story rather than a cautionary tale.
Technically, the setup remains strong:
– Golden Cross confirmed (EMA50 crossing EMA200)
– EMA50/100/200 all below price — bullish structure firmly intact
– Volume expanding on up-days — healthy confirmation
– RSI hovering in the 60–65 range — momentum is intact, no signs of exhaustion
Targets remain aligned with the structure:
– tp1 = $64 — measured move from the flag
– tp2 = $94 — full realization of the cup pattern
Tactically, this is no longer a “wait and see” setup — the move is in progress. No correction so far, only continuation. Momentum traders may consider entries into strength. Above $45, the move could accelerate further as more participants recognize the structure.
LMND is showing technical and fundamental alignment — confirmed breakout, improving narrative, and strong trend structure. While the impulse holds, this chart favors continuation, not hesitation.
EUR/USD: Short-Term Drop Before Recovery?Currently, EUR/USD is trading below the resistance at 1.16800 and could drop to 1.16000 if there is no recovery. The support at 1.16000 will be crucial in determining the next trend. If this support holds, the likelihood of a recovery to 1.16800 is high.
News Impact
The speech by Fed Chairman Jerome Powell could have a significant impact on monetary policy and affect the USD, increasing the chances of EUR/USD dropping. Meanwhile, peace talks between Russia and Ukraine could boost the euro if the situation improves.
Forecast
EUR/USD may experience a short-term decline, but there is still a chance for recovery if the support at 1.15998 holds.
EURUSD Testing 1.16650 in Descending Channel as DXY Holds 98.100Hey Traders, in today's trading session we are monitoring EURUSD for a selling opportunity around 1.16650 zone, EURUSD continues to trade inside a descending channel, with price correcting upward toward 1.16650, a key resistance zone aligned with channel structure.
At the same time, the U.S. Dollar Index (DXY) remains in an uptrend and is approaching 98.100 support. With recent inflation readings running high, markets may expect a more hawkish Federal Reserve, which could support further USD strength.
Monitoring how EURUSD reacts near 1.16650 in relation to DXY’s price behavior to gauge whether bearish momentum will resume or consolidation will continue.
Trade safe, Joe.
S&P 500 Eyes Breakout as Powell Signals Rate CutThe S&P 500 is once again approaching record territory, with momentum accelerating after Fed Chair Jerome Powell signaled a potential rate cut at Jackson Hole. Markets welcomed the dovish shift, boosting risk appetite and driving stocks higher.
Beyond Powell’s comments, several other factors are fueling the rally. Softer inflation readings have reinforced the case for easier policy, while labor market data shows a cooling trend without triggering recession fears. This “goldilocks” scenario continues to support equities.
Strong corporate earnings have also underpinned the move, particularly from the tech and consumer sectors, where margins remain resilient despite macro uncertainty. Capital inflows into equity ETFs highlight renewed investor confidence, while declining bond yields are making stocks relatively more attractive.
On the technical side, the S&P 500 is pushing toward the 6,500 level, its all-time high. A clean break above this barrier would confirm fresh upside momentum, potentially triggering further buying from trend-following funds.
While risks remain from geopolitics and trade tensions, the current mix of easing Fed expectations, solid earnings, and supportive technicals suggests the index could extend higher. A breakout above 6,500 may set the stage for another leg in the bull market.
Gold Breaks Consolidation, Enters Critical $3372-$3386 Supply Z.Chart: XAUUSD, 1H
Bias: Short-Term Bullish, but Cautious
Analysis:
Hello, traders. Let's break down the current price action on Gold (XAUUSD), which has just made a decisive move after a period of consolidation. (Note: The price levels in this analysis are based on the visual data displayed on the chart's Y-axis and Fibonacci tool, which may have a scaling discrepancy with the live ticker price.)
The Context: From Downtrend to Consolidation:
Previously, Gold was in a clear downtrend. After breaking its descending trendline around August 20th, the price action entered a consolidation phase. During this time, it has been building a support base, forming a key higher low marked "Strong" around the $3,320 level. The price ranged sideways, consistently facing resistance near the 0.382 Fibonacci level ($3,348.946).
The Bullish Breakout:
The period of indecision now appears to be over. We have just witnessed a strong, high-momentum bullish candle that has broken out from the top of this consolidation range. This move pushed the price decisively above the $3,360.491 (0.5 Fib) resistance, signaling that buyers have taken short-term control.
The Immediate Obstacle: The Confluence of Resistance
This bullish momentum has driven the price directly into a significant area of potential supply, identified by the indicator as the "Perfect Sell Zone 1". As per the indicator's label, this zone spans from the 0.618 to the 0.786 Fibonacci levels. This corresponds to a price range between $3,372.035 and $3,386.486, creating a powerful confluence of resistance that bulls must overcome.
Potential Scenarios & Key Levels:
Bullish Continuation (Primary Scenario): For the uptrend to continue, buyers must prove they can absorb the selling pressure in the current zone.
Confirmation: A decisive 1-hour or 4-hour candle close above the sell zone, specifically above the $3,386.486 (0.786 Fib) level, would be a strong confirmation of bullish strength.
Potential Entry: A more conservative long entry could be on a successful retest of the broken 0.5 Fibonacci level at $3,360.491, which should now act as support.
TP 1: The top of the supply zone at $3,386.486.
TP 2: The major swing high, and the ultimate target of this leg, at $3,409.420.
Rejection at Resistance (Alternative Scenario): This is a high-probability area for sellers to emerge and defend their territory.
If we see strong bearish price action within the $3,372 - $3,386 zone, it could signal a rejection. This might lead to a pullback towards the breakout point ($3,360.491). A break below the recent "Strong" low at $3,320 would invalidate the immediate bullish structure.
Conclusion:
Gold is at a pivotal moment. The breakout from consolidation is a clear bullish signal, but it is now facing its first major test. The price action within this precisely defined $3,372.035 - $3,386.486 supply zone will be the ultimate determining factor for Gold's next major directional move.
Disclaimer: This is not financial advice. This is for educational purposes only. Always do your own research (DYOR) before entering any trade.
ETH Shatters Downtrend with Explosive Breakout | Bulls Take FulChart: ETHUSDT, 1H
Bias: Bullish
Analysis:
Hello, traders! We are witnessing a dramatic and powerful shift in the ETHUSDT market structure that warrants immediate attention.
The Previous Bearish Context:
For several days, Ethereum has been trading within a well-defined bearish channel. This downtrend was characterized by:
A clear descending trendline that has been respected with multiple touches, acting as dynamic resistance.
A series of confirmed lower lows and lower highs, with multiple breaks of structure to the downside (indicated by the "Strong" lows being broken).
Overall seller dominance, pushing the price down from the $4,788 high to a low of around $4,042.
The Bullish Takeover (The Main Event):
The narrative has completely changed in the last few hours. A massive wave of buying pressure has resulted in an explosive move to the upside. The key developments are:
Decisive Trendline Break: A very strong, high-momentum bullish candle has completely shattered the long-standing descending trendline. This is the most significant bullish signal on this chart, indicating the previous downtrend is now invalidated.
Break of Market Structure: This upward thrust has also broken through several previous resistance levels, including the swing high around $4,400. This constitutes a major Change of Character (CHoCH) and confirms a shift in control from sellers to buyers.
Potential Scenarios & Key Levels:
Bullish Continuation (Primary Scenario): With such strong momentum, the path of least resistance is now to the upside. Traders might look for long opportunities.
Potential Entry: A textbook entry would be on a successful retest of the broken trendline or the recently broken resistance level around $4,400, which should now act as support.
TP 1: The previous major high at $4,788 (the '1' on the Fibonacci scale).
TP 2: The next major area of resistance, identified by the indicator as the "Perfect Sell Zone 1", starting around $4,880.
Invalidation Scenario: While the breakout looks powerful, traders must always manage risk. The bullish thesis would be invalidated if the price were to reverse, fall back below the broken trendline, and close decisively below the $4,300 support area. This would suggest the breakout was a bull trap.
Conclusion:
The evidence on the chart is overwhelmingly bullish in the short to medium term. The break of the multi-day trendline is a significant technical event that cannot be ignored. The immediate bias has shifted firmly in favor of the bulls. The key will be to watch for a potential pullback for entry opportunities and to see how the price reacts as it approaches the next major supply zone around $4,900.
Disclaimer: This is not financial advice. This is for educational purposes only. Always do your own research (DYOR) before entering any trade.
BTC Bulls Make a Stand at Key Demand Zone | Is a Reversal ImmineChart: BTCUSDT, 1H
Bias: Neutral to Short-Term Bullish
Analysis:
Hello, traders! Here's a look at the current BTCUSDT price action, which finds itself at a critical juncture.
The Bearish Context (Macro):
For the past several days, Bitcoin has been in a clear and structured downtrend. This is confirmed by:
A strong rejection from the "Perfect Sell Zone 1" around the $122,000 - $120,000 level.
A series of lower lows and lower highs.
Multiple breaks of structure (marked as "Strong" lows being broken) to the downside, confirming bearish momentum is in control.
The Bullish Reaction (Micro):
Despite the strong bearish trend, the price has now entered a significant "Perfect Buy Zone 1" between approximately $111,500 and $108,500. We are seeing a very aggressive reaction from this area:
A massive bullish engulfing candle has formed, showing that buyers have stepped in with force.
This push has resulted in a minor break of structure to the upside (the latest "Break" label), which could be interpreted as a Change of Character (CHoCH). This is the first potential sign that the short-term bearish momentum is weakening.
Potential Scenarios & Key Levels :
Bullish Reversal / Pullback: If the bulls maintain control, the immediate target would be the previous support levels, which may now act as resistance.
TP 1: $114,400 (Fibonacci 0.786 level)
TP 2: $115,700 (Recent consolidation area)
TP 3: $116,875 (Fibonacci 0.618 level)
An ideal entry for a long position could be on a successful retest of the recently broken resistance around $112,800.
Bearish Continuation: If this bullish push is merely a liquidity grab and fails to hold, a break below the "Perfect Buy Zone" (a close below $111,500) would invalidate the bullish scenario. This would likely signal a continuation of the macro downtrend toward lower price targets.
Conclusion:
We have a classic conflict: a dominant bearish trend versus a strong bullish reaction from a key demand zone. While the immediate momentum favors the bulls, caution is advised. A confirmation of a higher low would strengthen the case for a reversal.
Disclaimer:
This is not financial advice. This is for educational purposes only. Always do your own research (DYOR) before entering any trade.
EURUSD: Strong Bullish OutlookMarket Context:
EU and the US outline next steps on tariffs: If the EU and the US reach an agreement and ease trade tensions, EURUSD may rise due to the strengthening of the EUR.
Germany's Flash PMI increased (49.9 vs 48.8 forecast), showing strength in the eurozone economy, which supports the EUR and pushes EURUSD higher.
Technical Analysis:
EURUSD is currently trading around 1.15900, with strong resistance at 1.17800 and immediate support at 1.15400. The bullish trend continues, confirmed by EMA indicators showing strong momentum.
Trading Strategy:
With the improved PMI data and positive trade forecasts, the outlook for EURUSD is bullish. Traders may look to buy EURUSD when the price pulls back to 1.15400, targeting 1.16700.
Monitor support at 1.15400. If broken, EURUSD could correct towards 1.15000. Use a stop-loss below this support level.
What are your thoughts on this trend?
Dow Theory: Unlocking Market Trends for Consistent ProfitsDow Theory is the foundation of modern technical analysis. Developed by Charles H. Dow in the late 19th century, this theory asserts that the market reflects all information and price movements always follow identifiable trends. To this day, Dow Theory remains a "compass" for traders in understanding price behavior.
6 Core Principles of Dow Theory:
The Market Reflects All
Price includes all information: news, expectations, psychology, and economic data. Therefore, the chart is the most reliable source of information.
The Market Has 3 Trends
Primary Trend: Lasts for several months to years.
Secondary Trend: Adjustments within the primary trend, usually lasting a few weeks.
Minor Trend: Fluctuates over a few days, less significant.
The Primary Trend Has 3 Phases
Accumulation: Smart investors quietly buy.
Public Participation: Large capital flows in, and the trend becomes clear.
Distribution: Large institutions begin to offload, preparing for reversal.
Indices Must Confirm Each Other
Dow used the industrial and railroad indices; today, this means trends are only valid when multiple markets/inter-markets confirm the same direction.
Volume Confirms the Trend
In an uptrend, volume should increase when the price rises and decrease during corrections. The opposite is true for downtrends.
Trends Continue Until Clear Reversal Signals Appear
Traders shouldn’t try to pick bottoms or tops, but rather follow the trend until there's confirmation of a change.
Practical Significance for Traders:
Helps identify the main trend to follow the big money.
Aids in risk management by avoiding trading against the trend.
Provides a comprehensive view: price, volume, and market phases.
EURNZD: Key Resistance Holds 🇪🇺🇳🇿
It looks like a key resistance that EURNZD reached keeps holding.
I even see some bearish clues on an hourly time frame,
such as a confirmed breakout of a support line of a triangle pattern.
I think that we may see a retracement lower.
Goal - 1.99
❤️Please, support my work with like, thank you!❤️
I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.