The S&P500 gives a very clear impression as to what the situation is on the 1W timeframe. Despite the recovery early this year with the index crossing above the 1 year LH trendline, thus getting out of the Bear Cycle, the 1W technicals are basically neutral (RSI = 56.583, MACD = 37.340, ADX = 36.258). A big part of it is because the index has been ranging inside...
The EURAUD pair is on a Double Channel Up pattern, supported by the 4H MA50 with the 4h technicals indicating a smooth uptrend (RSI = 64.590, MACD = 0.003, ADX = 25.499). The 4H RSI being under an LH trendline suggests that soon we will see a short term pullback similar to March 12th and March 30th. We are buying the contact with the 4H MA200 and aim at a 2.30%...
The EURUSD pair is in the process of completing a Head and Shoulders pattern with the 4H technicals neutral (RSI = 51.260, MACD = 0.000, ADX = 33.876) on the Right Shoulder. The 4H RSI is under an HL trendline, which keeps it bearish short term, while having crossed under its HL trendline yesterday. The target of the Head and Shoulders can go as low as the 2.0...
DAX is trading on a Rising Wedge pattern inside a Channel Up, whose 4H RSI just hit the 1 month HL trendline. The 1D technicals remain bullish (RSI = 58.718, MACD = 105.900, ADX = 38.304) hence the long term trend upwards. As long as the 4H MA50 holds, our target remains the top of the Rising Wedge (TP = 16,100). ## If you like our free content follow our...
BTCUSD is already on an overbought 4H RSI (71.673) for the day but the 1D time-frame remains on well balanced bullish numbers (RSI = 65.713, MACD = 855.100, ADX = 21.853). This indicates the potential for strong bullish upside and same 1D RSI pattern is found at the start of the previous two +47.50/+48.50% rises. The pattern may seem a Channel Up but the...
The GBPAUD pair is on overbought 1D technicals (RSI = 70.497, MACD = 0.019, ADX = 49.220) with the price also close to the HH trendline of the past 9 months. We are buying the next pullback towards the S1 Zone and the 1D MA50, targeting R1 (TI = 1.9200). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are...
The AUDNZD pair is technically bearish on the 1D timeframe (RSI = 42.033, MACD = -0.005, ADX = 29.502), trading under the P1 Zone, which has been in place since 2021. It is under both the 1D MA50 and 1D MA200 and it targeting the HL trendline (TP = 1.05300). If the dashed LH trendline breaks, we will buy aiming at R1 (TP = 1.10800). ## If you like our free...
Gold turned its 4H RSI below 60.000 (RSI = 59.908, MACD = 11.510, ADX = 11.660) approaching the neutral technical zone for the first time since the April 3rd rise. This is in perfect sync with the February 2nd peak and subsequent correction. Tomorrow's Nonfarm Payrolls may be the catalyst. We are aiming at a -5% decline (TP = 1,930). ## If you like our free...
Dow Jones may be close at completing an Inverse Head and Shoulders pattern while being bullish both on the 4H (RSI = 60.932, MACD = 165.930, ADX = 34.060) and the 1D timeframes. A pullback to 32,800 and then rebound would confirm that. Even without it, we are ready to buy the breakout above the Channel Down, targeting the bottom of the R1 Zone (TP = 34,350). If...
Nasdaq turned the 4H timeframe neutral (RSI = 45.569, MACD = 13.770, ADX = 42.721) as it hit the bottom of the Channel Up pattern, just under the 4H MA50. Given that the 4H RSI also hits its HL trendline, that becomes a strong buy opportunity on the short term. There is also a HH trendline involved that has formed a Rising Wedge, so we set our Target on it and...
GMXUSD is attempting to close today over its short term Triangle pattern, which is just a neutral formation inside the long term bullish Channel Up pattern. The 1D technicals are bullish (RSI = 62.080, MACD = 0.000, ADX = 29.989) and if the 1D RSI crosses over the LH trendline, it will be the buy trigger we need to target firstly the R1 (90.00) and secondly the...
The S&P500 has completed 3 straight green weeks, the strongest 3 week rally since October 24th. As we zoom out on the 1W time frame where the technicals have just only turned marginally bullish (RSI = 55.603, MACD = 28.700, ADX = 34.959) we can see an attempt to form a Channel Up. The 1W RSI is slightly pulling downwards and since it started rising back in May,...
WTI Crude Oil reached the R1 Zone following OPEC, while getting very close to the top of the multimonth Channel Down. The technicals on the 4H time frame got overbought but have dropped below the barrier since (RSI = 68.376, MACD = 20.40, ADX = 40.224) indicating the first signs of sell bias. The Sell trigger perhaps can be given when the RSI crosses under the HL...
The NZDJPY pair is on a neutral technical price action on the 1D time frame (RSI = 51.078, MACD = -0.120, ADX = 32.313) as it reached the 0.5 Fibonacci level and 1D MA50 yesterday. This is the middle level of the long-term trading range inside the S1 and R1 Zones since April 20th 2022. So essentially this pair has been trading sideways for almost 1 year. Since...
BTCUSD closed 4 days ago the monthly candle in gains, making it the third straight month. Last time this took place was during the 2020-2021 rally. In fact this chart shows that Bitcoin gives 3 straight green monthly candles only during Bull Cycles historically. Given that its 1M technicals are still neutral (RSI = 50.333, MACD = -740.400, ADX = 33.982), the...
Nifty on the 1W time-frame is a straightforward buy. It is not just the attractive (now neutral) technical indicators (RSI = 48.265, MACD = -7.860, ADX = 27.064) but also the fact that the 1W candlesticks along with the 1W RSI being on a HL trendline, repeat a pattern which since 2011 starts an incredible rally. The HL suggest that the index won't fall more from...
The DXY is trading inside a Channel Down with the 4H technicals naturally bearish (RSI = 33.732, MACD = -0.220, ADX = 19.580) and the RSI on LH. This could be similar to the November/ January Channel Down, only smaller as the RSI shows a similar pattern. Since the price has already reached the 2.618 Fibonacci extension, we will start buying USD aiming at Fib 1.0...
CADJPY is trading inside a Channel Down pattern with the 1D technicals neutral (RSI = 51.739, MACD = -0.070, ADX = 39.994). Right noe the price is on the 1D MA50 and is bearish within the Channel Down targeting for its bottom (TP = 94.250). In spite of that, with a 1D RSI on HL and last time the price was on the 1D MA50 from a leg up, extending to the top of the...