InvestingScope

InvestingScope P

EURUSD has been on a non-stop decline for the majority of the month crossing under both the 1D MA50 and 1D MA100. The price is attempting to naturally reach the lower levels of the long term Channel Up and with the 1D time frame technically almost oversold (RSI = 33.358, MACD = -0.005, ADX = 58.352), the conditions of a new long term buy emerge. We will use a...

InvestingScope P

Gold reached today a triple Support Zone, the 1D MA100, the bottom of the Channel Up and S1 (1,935.50). The 1D time frame is technically bearish (RSI = 40.784, MACD = -12.590, ADX = 46.379) but those where the exact same conditions that formed the November 3rd 2022 and February 27th 2023 bottoms. Both bottoms gave way to price rallies that made at least a +10.20%...

InvestingScope P

EURJPY is approaching the top of the one year Channel Up pattern with the 1D time frame on strong bullish technicals (RSI = 63.669, MACD = 1.080, ADX = 24.666). Once the 1D RSI breaks the 70.000 overbought level again, it will be the most optimal sell entry on a seven month basis (previous one on October 21st 2022). It is already a strong sell opportunity and we...

InvestingScope P

WTI Crude Oil hit the bottom of its short term Channel Up, breaking under the 4H MA50 and MA100 after forming a Bullish Cross. With the 4H technicals turning red (RSI = 42.535, MACD = 0.300, ADX = 23.704) we have the conditions for a short term buy opportunity. Our target is the 1D MA100 which is sitting on the 0.618 Fibonacci level (TP = 75.50). The last 4H...

InvestingScope P

DAX has almost hit today the 1D MA50 (last time it had contact was March 29th) and reacted with a rebound. The 1D technicals are neutral (RSI = 45.355, MACD = 76.400, ADX = 25.34&) indicating that this is a first Support level but if we close a 1D candle under it, can drop more until they turn red. Consequently, as long as the 1D MA50 holds, we will keep our...

InvestingScope P

NZDUSD is trading inside a Channel Down, currently under both the 1D MA50 and 1D MA200 but approaching the bottom of the pattern. The 1D timeframe is technically bearish (RSI = 35.132, MACD = -0.002, ADX = 37.676) but when the RSI hit the bottom of the five month Rectangle it has been a buy signal. Similarly with the top being a sell signal. Those RSI tops and...

InvestingScope P

Dow Jones touched today the 1D MA200 for the first time since March 29th, almost 2 months after the strong bullish break-out. The 1D timeframe is technically bearish (RSI = 38.438, MACD = -67.410, ADX = 30.240), indicating that we are approaching low enough levels to justify a long term buy. However we are only willing to open a buy position as long as the 1D...

InvestingScope P

EURGBP is consolidating under the 1D MA200 for the 11th consecutive day which keeps the 1D time-frame near neutrality, despite the marginally red technical indicators (RSI = 43.260, MACD = -0.003, ADX = 36.781). This is a standard bottom formation and since the 1D RSI is rising after hitting the Channel's bottom, the signal gets stronger. The standard rally...

InvestingScope P

AUDUSD is on a strong 2 day sell streak below both the 1D MA50 and 1D MA200 but is approaching the bottom/ LL trendline of the six month Channel Down. The 1D time frame is technically bearish (RSI = 36.760, MACD = -0.003, ADX = 28.005) and the closer the 1D RSi gets to being oversold (30.000) the stronger the buy signal on the long term becomes. As long as the 1D...

InvestingScope P

The USDCHF pair got rejected on Friday on the 1D MA50 and is extending those losses today. The long term pattern is a Channel Down and the currently neutral 1D time frame technically (RSI = 49.936, MACD = -0.001, ADX = 19.890) suggests that this is a strong sell entry. You can target S1 but we are willing to go marginally lowe on S2 (TP = 0.87610) based on the...

InvestingScope P

S&P500 has almost reached the medium-term TP (4,220) so we are booking the profit on last Friday's buy position. The 1W timeframe is on steady green levels technically (RSI = 58.257, MACD = 54.060, ADX = 33.739) but the RSI is at the top of its Rising Wedge, indicating a possible loss of strength. We expect a pull-back to S1 and will buy it, targeting R1 (TP =...

InvestingScope P

Nasdaq hit and crossed today over R1 (13,730) which was the High of August 16th 2022, the last major Resistance standing. It did so however on an overbought 1D technical timeframe (RSI = 70.248, MACD = 173.650, ADX = 31.828), which is a bell to start booking profits, especially since the price is approaching the top (HH trendline) of the Rising Wedge, the pattern...

InvestingScope P

USDCAD is stuck in between the 1D MA200 and 1D MA50, inside a Triangle pattern. The 1D timeframe is naturally neutral technically (RSI = 51.593, MACD = -0.003, ADX = 11.724) since the price is in the middle of the pattern and that recent rebound on the bottom of the Triangle is the last buy opportunity before it hits the top (LH trendline) again. We are long...

InvestingScope P

Dow Jones hit again the underlying Support which marked a low on January 16th. That was the Left Shoulder (LF) of a potential Inverse Head and Shoulders pattern and if it holds again, this one will be the Right Shoulder (RS). The 1W timeframe is technically neutral (RSI = 49.180, MACD = 258.440, ADX = 22.862), which makes it a solid buy opportunity on a two month...

InvestingScope P

EURUSD is on the 3rd consecutive red 1W candle with 1W technicals turning neutral (RSI = 55.304, MACD = 0.015, ADX = 31.636) and 1D bearish. The bearish alarm comes from the 1W RSI, which declined after a Double Top. The very same Double Top emerged on December 14th 2020 and January 29th 2018. Both were at the very tops of the price, with a HH trendline present...

InvestingScope P

GBPJPY got rejected on R1, making so far a Double Top with the October 31st 2022 High pausing a rally that has started at the beginning of the year. As the 1D technicals show (RSI = 62.785, MACD = 1.330, ADX = 28.382) the trend hasn't changed, technically it does only with a candle under the 1D MA200. But every such HH rejection always tests the 1D MA50. Based on...

InvestingScope P

Gold came today the closest it's been to the 1D MA50 since March 13th when it crossed over it and initiated the Channel Up the price has been trading in for the past 2 months. Being at the bottom of this Channel Up, the 1D technicals are neutral (RSI = 46.769, MACD = 11.340, ADX = 29.957) and this indicates how strong of a long term buy opportunity this is. Until...

InvestingScope P

WTI Crude Oil is failing on the 4H MA50 and maintains a dangerous Triangle on the 4H timeframe on neutral technicals (RSI = 44.789, MACD = -0.040, ADX = 23.667) which can breakout either way. So far it is supported by an HL trendline like the March pattern but if this breaks, which would mean downward breakout for the Triangle, we will sell, after the 4H MA50...