Hi there, The price formed a high of 47642.22 after breaking out at 26549.29. As of right now, the price looks to be in a bearish retracement, with a potential target price of 37370.20 for its ABC bearish sequence. A proactive approach to trading that involves thorough assessment and evaluation of key factors such as price formation and volume-valued zones. Here...
Hi there, There's an ABC pattern forming in the USDZAR H1 time frame. AB appears to be a correction in a bullish trend that continues in higher time frames when viewed over a stochastic indicator. Therefore, BC is expected to continue the bullish XA wave, reaching an approximate price area of 19.31196, with 19.08984 as the first price target when applying a...
Hi there, There is a bearish trendline break and retest at the H1 EURGBP pair, and bearish pressure is high at the 0.86324 area. The setup will be valid as long as the price remains below 0.86535 for the major break of that low. The closest target is 0.85964, for a bias of 0.85670. Happy Trading K.
Hi there, XAUUSD is potentially bearish at the 3-hourly time frame. The price is currently challenging the 2066.63 area, but our bearish objective is the break of the 2010.70 area. If the price rises above the 2086.89 LH, that will invalidate the setup because a lower high typically leads to a series of lower lows. The first desired target area is 1970.32, and...
Hi there, XRPUSDT looks bullish at the M30, having completed the support area range of 0.56-0558. The momentum moved in a bullish sequence of 1 to 2, which indicates a minor retrace may occur to break the high of 0.5742. The price is attempting to change the momentum of the AB wave. The force of this change is from the low (Y), which forms a bullish pressure at...
Hi there, A look at the BTCUSDT chart at the 3 hourly time frame, we notice a price movement from the 40465.86 support line to high 1 to low 2, and the 2 was not broken by the high (A) forming a ll that is a hl to the retracement of 1. This indicates a bullish pressure at work in the 42K area and, with it, a bullish trend. (A) is, therefore, the high of 1 over...
Hi there, Fundamentals : Despite an unexpected surge in US crude, gasoline, and distillate inventories, oil prices experienced a slight increase on Wednesday. WTI crude futures stabilized above $73 per barrel, initially surging over 2% after government data revealed unanticipated rises in US stocks. Investors are now closely monitoring the forthcoming OPEC+...
Hi there, Fundamentals : The struggle of Bitcoin to actually break above the 39,000 level continues despite increased capital inflow from institutional investors. There has been a surge in demand for digital assets, with positive inflows to the market for nine consecutive weeks. The anticipation of a spot Bitcoin ETF and the halving event next year contribute to...
Hi there, You may not know the exact direction that the price will take or how it will reach your target. It could temporarily move downward before moving up and eventually hitting your stop-loss level. Alternatively, it might smoothly move in the desired direction, or it could unexpectedly reverse without gaining the anticipated momentum, potentially resulting...
Hi there, GBPUSD is a long-term trade idea stretching as far as 3 months with this weekly setup. It currently does not appear ideal for day trades for Forex traders, but for binary traders, this pair is still fine. So we focus on the longer-term range for this one. It appears that the market trend is held by the 1.40000 market high range, with a lot of bearish...
In the H1 timeframe, something interesting happened. The price went below the 50 EMA and then made a lower high candle near 0.88500. After that, it dropped to 0.88205, which used to be a high. Now, there are a couple of things that could happen. The price might dip below this support line, making it seem like it's going down, but then it could change course and...
Hi there, Fundamentals : Gold prices in Asian trade reached a near seven-month high, driven by signals from Federal Reserve officials suggesting an early pivot by the central bank. The decline in the dollar and retreating U.S. Treasury yields also benefited gold. With concerns about a global economic slowdown due to weak readings from Japan and the eurozone,...
Hi there, Overview : The ABC dragon pattern is a type of technical analysis pattern seen in candlestick charts. It is known for its distinct shape and can provide valuable insights into potential market trends and opportunities. In order to understand and identify this pattern, we need to analyze the low and high points of the candlesticks involved, along with...
Hi there, ]Technical Overview : The ABC pattern is a commonly observed technical pattern in financial markets. It consists of three price swings or legs, labeled as A, B, and C. This pattern is often used to identify potential reversals or continuation of trends. In the ABC pattern, the extended leg refers to one of the legs (B or C) that exceeds the range of...
The price came down and made a low round of 0.95647, then went up and crossed the blue 50 EMA, and came and touched the 50 EMA but could not go below it, and this is above the previous high. The price might go higher as long as it keeps making higher lows above the 50 EMA for a bias of 0.96721. K.
Hi there, Fundamental Overview Cardano (ADA) experienced a significant rise of nearly 18%, while Polygon (POLY) saw an impressive 26% increase. BNB and XRP also had decent gains of over 10% and nearly 9% respectively. This positive news continued to fuel the market rally. After the recent market-wide correction, Cardano has impressed with a strong recovery....
Hi there, Fundamental Overview : Economic disparities between Europe and the U.S. pose challenges for the EUR/USD. Anticipation of both the Federal Reserve and the European Central Bank maintaining current short-term interest rates. The eurozone grapples with economic challenges. In contrast, the U.S. economy exhibits resilience amid global economic...
Hi there, Overview Fundamentals : The Nifty 50 index encountered resistance at 19,850, leading to a significant intraday decline. Despite a mixed day in Indian shares, a rally sparked by positive U.S. interest rate news and falling oil prices was tempered by a drop in financial stocks due to tightened consumer lending rules. Market Movement : After a two-day...