NovaFX23

NovaFX23

AUDCAD has broken and closed below a significant horizontal support level during the day. After a retest, there has been a clear bearish reaction. The pair may continue to decline towards the 0.9140 support level.

NovaFX23

The USDJPY chart shows that the price has successfully broken above a key horizontal resistance level and closed above it on a shorter-term chart. After this breakout, the price experienced a corrective movement on the 4-hour chart, creating a bullish flag pattern. With the start of the New York trading session, the market broke through its resistance level,...

NovaFX23

The USDJPY chart shows that the price has successfully broken above a key horizontal resistance level and closed above it on a shorter-term chart. After this breakout, the price experienced a corrective movement on the 4-hour chart, creating a bullish flag pattern. With the start of the New York trading session, the market broke through its resistance level,...

NovaFX23

The GBPNZD price has successfully broken and closed above a significant daily and intraday resistance level, which has now turned into support. I expect the bullish trend to continue, with target levels at 2.1420 and 2.1471.

NovaFX23

We observed two unusual breakouts on the gold chart. The market had been consolidating for approximately two weeks, creating a triangle pattern and a horizontal range. Both the triangle support and the range support have been breached, highlighting the strength of the sellers. It’s likely that the price will decline to the 2600 support level.

NovaFX23

GBPAUD reached a key support level on Friday and subsequently formed an inverted head and shoulders pattern, resulting in a bounce and a break above a descending trend line. This signals strong buying momentum and implies that the market may continue to rise. The next resistance level to monitor is at 1.9424.

NovaFX23

EURNZD is beginning to rebound after an extended decline. A significant bullish breakout has occurred at a key daily resistance level, demonstrating strong buyer activity. I expect the market to keep improving and potentially reach the 1.7941 level soon.

NovaFX23

Since the end of August, USDCHF has been trading within a range, but the fundamentals released on Friday triggered a surge in bullish sentiment. This led to a breakout above the upper boundary of the range, indicating potential for further upward movement. The next resistance level to monitor is at 0.8623.

NovaFX23

I noticed another breakout today: CADJPY has surpassed a significant horizontal resistance and closed above it, suggesting the possibility of continued bullish momentum. The next resistance level to monitor is at 111.05.

NovaFX23

For the past two weeks, EUR/USD was trading in a sideways pattern, but it saw a rise in bearish activity following significant news released last Friday. The price has broken below a key support level on the daily chart, suggesting a potential downward trend. The next support level to monitor is at 1.090.

NovaFX23

Update on Gold Recently, we observed a breach of a key horizontal resistance level on the intraday chart. Following this, the market retraced to a previously broken level and formed both a symmetrical triangle and a double bottom pattern on the 4-hour chart. A bullish breakout above the triangle's resistance line and the neckline of the double bottom signals a...

NovaFX23

In today's top-down analysis session with my students, we focused on gold. Despite the slowing momentum, the market still exhibits bullish tendencies. After testing a strong rising trend line on the 4-hour chart, we saw a significant bullish reaction. The price broke and closed above the resistance line of a bullish flag pattern. I expect the market to move...

NovaFX23

EURCAD is experiencing strong bearish pressure. First, the market broke through a solid rising trend line on the 4-hour chart. Second, it also violated a significant horizontal demand zone. These broken structures have created an expanding supply zone. I anticipate a bearish movement toward 1.4948, which is the next horizontal support level.

NovaFX23

The EUR/USD seems overbought after a strong bullish trend, having stalled after reaching a key daily resistance level. On the 4-hour chart, there's a triple top pattern forming alongside a rising trend, with the market breaking below the support trend line. For sellers, the critical level to watch is the neckline of the triple top at 1.1143 - 1.1123. A break and...

NovaFX23

The earlier bearish prediction on silver was confirmed, as the price declined from the indicated blue resistance today. Analyzing the 4-hour timeframe, I identified another bearish signal: a breakout below a significant horizontal support level. I anticipate further bearish movement toward 30.55.

NovaFX23

Bitcoin has rebounded from its prolonged bearish phase, breaking through a significant daily resistance level. This bullish breakout suggests increasing buyer momentum. I anticipate the market will continue its recovery and approach the 5800 range soon.

NovaFX23

The USDCHF market is currently moving sideways on the daily chart. After testing the range's support, there was a notable bullish response, leading to the formation of a small inverted head and shoulders pattern and a break above the neckline on 1hr time frame. I expect the price to rise towards the target level of 0.8459.

NovaFX23

Last week, EURCAD touched a significant rising trend line on the 4-hour chart. Despite the market consolidating in a horizontal range for a while, this contact with the trend line propelled the pair upward. The market then broke and closed above the range's resistance. I anticipate that the pair will continue to rise, with a target of 1.5123.