Hello,Friends! The BB upper band is nearby so GOLD is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 2323.862. ✅LIKE AND COMMENT MY IDEAS✅
Hello,Friends! Previous week’s green candle means that for us the AUD/CHF pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 0.599. ✅LIKE AND COMMENT MY IDEAS✅
Hello,Friends! NZD/CHF uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 0.546 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the NZD/CHF pair. ✅LIKE AND COMMENT MY IDEAS✅
Hello,Friends! GBP/CAD pair is in the downtrend because previous week’s candle is red, while the price is evidently rising on the 6H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 1.713 because the pair is overbought due to its proximity to the upper BB band and a bearish correction...
Hello,Friends! The BB upper band is nearby so EUR-AUD is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 1.622. ✅LIKE AND COMMENT MY IDEAS✅
Hello,Friends! We are now examining the GBP/JPY pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 193.922 level. ✅LIKE AND COMMENT MY IDEAS✅
Hello,Friends! We are going short on the GBP/CHF with the target of 1.131 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✅
Here is our detailed technical review for US30. Time Frame: 1h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 39495.19. Taking into consideration the structure & trend analysis, I believe that the market will reach 39599.16 level soon. P.S Overbought describes a period...
Please, check our technical outlook for GBPUSD. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 1.252. The above observations make me that the market will inevitably achieve 1.223 level. P.S We determine oversold/overbought condition with RSI...
All currencies appearing in this post are fictitious. Any resemblance to real currencies, existing or dead, is purely coincidental.
Gold New Forecast The price of XAUUSD (Gold) is expected to be volatile today due to the release of the CPI news. The movement will depend on the results: if the CPI is higher than expected, it typically indicates rising inflation, which could lead to increased interest rates and potentially cause gold prices to fall. Conversely, if the CPI is lower than...
The XAUUSD chart is showing an intriguing setup for a bullish continuation. We've observed a completion of Wave (4) at a strong support level, indicating readiness for Wave (5), typically the final leg in an Elliott Wave motive sequence. Currently, XAUUSD seems to be in a strong position to move higher. Using the Fibonacci extension tool, I've identified the...
Hello, traders! In the current market scenario for NZDUSD, Elliott Wave analysis presents a compelling bullish case. The currency pair has recently completed Wave (4) and is transitioning into Wave (5), often characterized by a strong upward movement. The completion of Wave (4) near significant Fibonacci retracement levels—specifically the 0.382 at...
Examining the NASDAQ (US100) through the lens of Elliott Wave analysis, we observe that the index has potentially completed the cycle with Wave (5) and is now embarking on a corrective phase, denoted as Wave (a)-(b)-(c). Currently, the start of Wave (c) seems imminent, traditionally known as a strong downward move. We're targeting Wave (c) to potentially extend...
Our detailed Elliott Wave analysis of the S&P 500 suggests the index may be poised for a downturn following the completion of Wave (5). We are currently observing the formation of a corrective ABC pattern, signaling potential declines. As Wave (b) appears to peak, we anticipate the beginning of Wave (c), which is often a sharp downward movement. Based on Elliott...
Hello, traders! Taking a look at the USDJPY, Elliott Wave analysis reveals that we are currently in the midst of a corrective phase after completing an impulse wave. The completion of Wave (b) sets the stage for the commencement of Wave (c), which is anticipated to push the price higher. From the chart, we can observe that Wave (a) was a bullish retracement,...
Hello, traders! Our review of the CADCHF chart through Elliott Wave theory shows a promising bullish opportunity. The pair appears to have completed a corrective wave pattern marked by Wave (b) and is now potentially initiating Wave (c), which typically signifies a strong upward move. From the chart, we can see that Wave (a) led to a notable rebound, followed by...
Hello, crypto enthusiasts! Our Elliott Wave analysis on BTCUSD indicates that Bitcoin may be ready to make a significant upward move. After completing the corrective Wave (b), we're observing the early formations of Wave (c), which typically represents a strong bullish impulse. From the current levels, Wave (c) is expected to extend towards key Fibonacci...