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Ascending Channel

AUDUSD → Price squeezes in front of resistance. A breakout?FX:AUDUSD is forming a strong consolidation on the chart as the price is squeezing to the resistance at 0.67. On the background of weakening DXY, buyers have chances to break the area. There is news ahead and at the moment traders are preparing to break resistance. Favorable news may contribute to the breakout of the strong limit zone and the formation of a distribution towards 0.684. Technically, the chances are high (strong bullish pattern) Traders are waiting for: ADP, Initial Jobless Claims, SP PMI, ISM, FOMC. Quite a busy news day, against which high volatility is expected. After Powell's words yesterday, the situation is neutral, but the dollar is going into correction. Everyone is waiting for the data on the labor market, on which the further situation will depend. Resistance levels: 0.67 Support levels: 0.665, 0.662, 0.6586 Technically, the situation is bullish, the emphasis is towards the resistance breakout. Further everything will depend on the fundamental background. A favorable background for AUD will increase purchases, but a negative background may cause a correction. Regards R. Linda!
Long
by RLinda
3
GOLD → An intermediate bottom of 2350 is forming. What's next?FX:XAUUSD is testing 2350, gathering liquidity below this zone. Bulls are actively holding the defense above the key area and the overall picture looks promising.... BUT! Powell's speech continues today ahead of CPI and PPI. Things are heating up, the slightest hint of an unpredictable outcome could shake the market. For now, there are some positive signs after Powell's words: - Keeping rates high for too long could jeopardize growth in the U.S. economy - A rate hike is unlikely to be the next step - The Fed has made significant progress in bringing inflation down to the 2% target, recent monthly numbers show modest further progress - Fed needs more favorable inflation data to cut rates Overall, traders are not getting enough of this, the market is in consolidation and no one is in a hurry to take premature action yet. We are waiting for today's comments of the Fed chief. Technically, gold is showing bullish dynamics after the bulls did not let the price go beyond 2350. The price is consolidating above the key level of 2365 and testing the area of interest and liquidity of 2375-2380. A breakout and consolidation of the price above this area may further strengthen the price, as the promising target, at the moment, is 2387 - 23400. Resistance levels: 2373, 2380 Support levels: 2365, 2355, 2350 A bounce to the downside before further growth is possible, but price consolidation above the key zones could form an interim bottom for the bulls. All emphasis on Powell's comments..... Rate, share your opinion and questions, let's discuss what's going on with gold ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
8
Bitcoin - 42k soon! (Fibonacci channel, roadmap)Why am I bearish on BTC? With all the crypto regulations around the world and, recently, banning stable coins in Europe + high transaction fees - crypto is losing its popularity, and people are starting to hate crypto. Which means no one wants to use it, and where there is no use, there is no money. Maybe crypto is not as good a technology as presented by banks. Crypto has been a huge disappointment for all investors in recent years. Ask yourself a question: Are you happy with your crypto holdings or not? Wasn't it better to put your money into NVIDIA? Nvidia made 10x in only a 2-year period. And this is a big stock, not a penny stock. Bitcoin hit an all-time high in March and failed to continue the price discovery. Bitcoin was not strong enough to continue in the bull market, and instead, we saw a liquidity sweep, and it is currently experiencing a 27% crash from its peak. Bitcoin failed to sustain the black ascending channel (that you can see on the chart). What we want to see is a breakout above an ascending channel, then a retest of it, and then a continuation of the bull run. In Bitcoin's case, we did have a retest of the black channel in April, but recently the price went back to the channel, which is a strong sign of weakness. We have completed the Elliott wave impulse wave (12345). Waves 2 and 4 have both around 20% retracement. Bitcoin is definitely heading towards the 42k level. Why is this level so important? We need to take a look at the chart and draw a Fibonacci parallel channel. Always use significant points to draw it, such as the major swing high or peak of a bull market. In our case, we use the most important points: bull market peak (2021), bear market bottom (2022), and bull market peak (2024). We have a very nice-looking Fibonacci channel, and now we need to look for important levels. I always recommend using 0.618, 0.5, and 0.382. We also have 0.764 and 0.236, but these levels in general have a lower success bounce rate. 0.5 is not a Fibonacci number, but it's the middle of the ascending channel, which is logically a very strong dynamic level. The first major support is at 0.382 (around 42k) because we also have a POC (point of control) of the volume profile. Let me know what you think about my analysis in the comment section, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
BITSTAMP:BTCUSDLong
by Xanrox
118
TON → Is the coin still bullish? When is $10.00?OKX:TONUSDT still continues to accumulate potential with the purpose of breaking through resistance 7.671 and continuing growth. Bulls are actively defending the zones of interest and continue to hold the positive market structure. Demonstration of a bullish structure. Continuation of upward movement on W1 Earlier, on the background of the general market correction the price formed a false breakout, which did not lead to a break of the bullish structure or to a strong fall. From the area of interest (without capturing liquidity) buyers are actively buying the asset and again trying to return to the resistance retest, which will only increase the chance of a breakout. Fundamentally and technically, TON looks very positive at the moment. But this does not mean that sellers are unable to change the nature of the price movement. Conditions under which the upward movement and positive structure will be broken Resistance levels: 7.671, 8.288 Support levels: 6.727, 6.202 Technically, there is a high probability of a continuation of the upward trend, but there is also a probability of a support break, which will break the uptrend and change the market imbalance. At this point, while the price is consolidating and continues to shrink to resistance, we should consider a bullish set-up. Regards R. Linda!
Long
by RLinda
5
XRP → Rally to 0.730 ↑ The fundamental denouement is comingBINANCE:XRPUSDT is approaching a possible decoupling, both technically and fundamentally. Positive signs of life could lead to a rally, first stop could be around 0.73. On W1, the coin is trying to live, but there is a huge fundamental reason that keeps the price from going beyond resistance and flat: The SEC v. Ripple litigation. The Ripple vs. SEC case is a pivotal moment for cryptocurrency regulation, as a final victory would be a strong green sign for the entire cryptocurrency community amidst the SEC getting a number of restrictions on its activities lately due to overstepping its authority. Ripple's CEO believes that the final verdict could come at the end of the summer. Everyone is counting on a positive outcome for XRP: The court found that Ripple violated federal securities laws by making institutional sales of XRP, but dismissed other charges brought by the SEC. Ripple Labs opposed the SEC's proposal to fine the company nearly $2 billion. Ripple Labs said the court should impose a civil penalty of no more than $10 million Technically: Price continues to test the wedge resistance with the aim of breaking it, volatility decreases and consolidation continues. Below 0.4637 buyers are not letting the price in yet, which may lead to another retest of the resistance, which will only increase the chances of a breakout. Price consolidation above 0.4962 will be the root cause of market character change and possible rally to 0.6265 - 0.73. Support levels: 0.4637 Resistance levels: 0.4962, 0.5720 I expect that the buyers will still be able to break through the resistance of the bearish figure in the near future and ride the rally to the mentioned targets. Regards R. Linda!
Long
by RLinda
57
NZDUSD → Traders prepare for bearish rally to 0.60OANDA:NZDUSD is consolidating after breaking the uptrend support. There are no signs on the chart for possible growth, only if the fundamental environment does not change drastically... Technically, a bearish situation is forming on the senior timeframe within the 0.6219 - 0.6084 range. Traders do not believe that the dollar will start to fall and are forming sell-offs of the New Zealand dollar. A break of 0.6083 could lead to a strong sell-off that could spill the market to 0.60 - 0.587. But as the US GDP will be released tomorrow, the market may continue to move flat until some important measures are taken by the major traders. Resistance levels: 0.6140, 0.6215 Support levels: 0.6083, 0.600 I expect a retest of the support against which a small rebound may follow. But, if the situation both technically and fundamentally will not change in the near future, we should expect the formation of a bearish trend. Regards R. Linda!
Short
by RLinda
7
GBPUSD → The rallies in GBP continue. Falling to 1.26?FX:GBPUSD on Friday updates the local low and confirms the bearish nature of the market. Since the opening session traders have been trying to buy back some of the decline and are heading towards the liquidity zone, from which bears may intensify selling Traders increased selling in GBP to a 16-month high amid expectations that the Central Bank of England will start cutting interest rates sooner than the US Fed. Investors are expecting the GDP of both countries (UK and US) on Wednesday and Thursday. This will help to form a medium-term strategy. Technically, price is heading towards the 1.270 zone of interest (psychological area), which previously played the underlying consolidation support. A retest and capture of the liquids could change the imbalance in the market, which could lead to an intensified sell-off from the said area Resistance levels: 1.27, 1.275 Support levels: 1.26, 1.257 The dollar index looks stronger than the pound sterling, which continues to weaken due to fundamental reasons. The Feds are not yet ready to take premature action, which generally determines a negative fundamental background for the currency pair. Regards R. Linda!
Short
by RLinda
13
ETHEREUM → Long-squeeze before the rally? To the MOON, to $4800?BINANCE:ETHUSDT continues the phase of correction, the character of which is consolidation. The goal is to gather potential before possible growth on the trend. The target is 4000-4800 The main focus is on ETH-ETF, which, according to rumors, may be allowed to trade on July 2-4. This will be another positive signal for the cryptocurrency community, as this fact may expand the underlying demand for cryptocurrencies and attract additional capital. Fundamentally, ETH is seeing an increase in the number of active wallets, traders are actively buying call options with strike 4000 and expiration in September, Ethereum Foundation is not selling ETH now as it usually did close to market tops, which together gives positive signs. The asset price is in a downward correction at the moment. The essence of this movement is the asset's consolidation before further strengthening. Resistance levels: descending wedge line, 3678, 0.5 fibo Support levels: 3200, trend line, 0.79 fibo Technically, liquidation of buyers in the liquidity area formed behind the trend support is possible, long-squeeze may lead to a rally. Regards R. Linda!
Long
by RLinda
25
GBPCAD → Trend Change. The fall may continue to 1.710OANDA:GBPCAD breaks the uptrend, a bearish rally is forming and the price is testing local support. A break of the liquidity area will renew the sell-off against a weaker GBP and a rising CAD. Pound sterling is moving from accumulation to realization and downward distribution on the background of expectations that the UK central bank will start an earlier interest rate cut relative to the US Fed. The Canadian, on the contrary, is growing on the background of monetary policy tightening in the country. The resistance at 1.7336 plays a key role for the currency pair at the moment. A false breakdown (touching the SMA) is possible before the subsequent price drop, a breakdown of 1.7297 will strengthen the sell-off. Resistance levels: 1.7336, 1.7387, 1.7415. Support levels: 1.7297, 1.7228 I expect consolidation in the local range, which may turn into a phase of further decline. Key liquidity zones are 1.7228 - 1.7085. Regards R. Linda!
Short
by RLinda
1
MU: A Dangerous Inflection Point! (D&W charts).Daily Chart: On the daily chart, MU is trading within an ascending channel, a bullish indicator suggesting an uptrend continuation. The recent price action has tested the lower boundary of this channel, around 133.30, a critical support level that was a previous resistance, as evidenced by the red arrows – another example of the Principle of Polarity. The price rebounded from this support, highlighting its significance. A sustained move above this level could push the stock higher within the channel, potentially targeting the recent highs around 157.41. The only thing missing is a clear bottom signal (there isn't any so far). However, a break below 133.30 could signal a potential shift in trend, leading to a deeper correction in the weekly chart. Weekly Chart: In the weekly chart, a shooting star pattern is observed, a bearish reversal signal that often appears at the top of an uptrend. This pattern indicates a potential top, especially if followed by a bearish confirmation in the subsequent weeks. The current weekly close below the low of the shooting star reinforces the possibility of a correction (however, this week isn’t over yet). If the price continues to decline, the next significant support level to watch is the 21-week EMA, which has previously acted as a dynamic support. Conclusion: Integrating both time frames, MU is at a crucial juncture. The daily ascending channel suggests a bullish bias, but the weekly shooting star pattern warns of a potential correction. If the price holds above the key support of 133.30 on the daily chart, it could resume its upward trajectory within the channel. However, failure to maintain this level might lead to further downside, aligning with the bearish implications of the weekly shooting star. Fow now, we should monitor these levels closely to gauge the stock's next move, balancing the bullish potential of the ascending channel with the caution warranted by the shooting star pattern. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
NASDAQ:MU
by Nathan_The_Finance_Hydra
PEPE → The end of the correction may take us back to an uptrend BINANCE:PEPEUSDT - the meme coin is showing signs of a possible end to the correction and a return of price to the bullish trend continuation phase. On the local timeframe, the price forms an exit beyond the resistance of the descending channel, characteristic of the correction against the background of the bullish trend. Against the background of bitcoin capitulation and the general mass of altcoins, the meme coin PEPE looks quite cheerful. The price can move into the phase of the 5th wave realization if the bulls can keep the defense above 0.0000114. The next boundary is the range resistance. The breakout of this area will be a green traffic light signal for the buyers, the potential of which could strengthen the price towards ATH Resistance levels: 0.0000125 Support levels: 0.0000114, 0.00001084 I expect that the bulls will do their job and will soon be able to bring the price to the nearest resistance, where a fierce struggle for further space between buyers and sellers may take place. Regards R. Linda!
Long
by RLinda
7
GBPJPY → Breaking the psychological level. What's next, 215.0?OANDA:GBPJPY is getting ready to break resistance (ATH for 15 years). In the long term, there is upside potential to 215.8. A strong bullish formation is forming on H4-D1 On the monthly timeframe, price is in the 195-215 range. Bulls kept the defense above the support, at the same time a pre-breakdown setup is forming on the chart, the focus of which is on the resistance at 200.6. The psychological level may be broken in the nearest future, which may provoke the market to active growth towards 202-205, further towards 215 (medium-term perspective). Japanese Central Bank is not doing well, today we expect news in the US: CPI, FOMC and FED meeting, inflation data is expected to be neutral. Resistance levels: 200.6 Support levels: 199.9 Technically and fundamentally, the currency pair has a strong bullish bias. If the bulls are able to consolidate above 200, this zone will become a strong support in the medium term. Regards R. Linda!
Long
by RLinda
26
PEPE ANALYSIS🚀#PEPE Analysis : 🔮As we can see in the chart of #PEPE that there is a formation of Descending Channel Pattern. #PEPE is consolidating in a descending channel.... currently waiting for breakout the pattern. Incase of successful breakout...... we can expect 50 % bullish wave in coming weeks📈📈 🔰Current Price:  $0.00001150 🎯 Target Price:   $0.00001743 ⚡️What to do ? 👀Keep an eye on #PEPE price action. We can trade according to the chart and make some profits⚡️⚡️ #PEPE  #Cryptocurrency #TechnicalAnalysis  #DYOR
Long
by ZEUS_Market_Alerts
GBPUSD → The market maker's trap. Ready to go down ↓ ?FX:GBPUSD is losing after a prolonged struggle for resistance. A major player does not let the market beyond 1.2800. On the background of the dollar growth, the currency pair may change the local trend The fundamental background is unstable, the US dollar is still going through Wednesday, but based on the position of regulators the dollar looks ready to strengthen further, which is generally negative for GBPUSD. On D1, the area of 1.285-1.28 is worth watching. A major player is not still holding the barrier of limit resistance zones. After a shakeout and liquidity grab (trap from the market maker), the market is ready to go down as the current zones of interest are 1.258-1.257, 125. Support levels: 1.271, 1.265 Resistance levels: 1.28 Technically, we should wait for a pre-breakdown consolidation and subsequent breakout of 1.271, or price consolidation below this area. Having received confidence and confirmation of readiness to decline, we can wait for the previously mentioned targets. Regards R. Linda!
Short
by RLinda
2
EURUSD → Readiness for further decline. Target 1.0600FX:EURUSD is in a bearish channel. The price is below the resistance at 1.0725, there is a possibility of retesting the liquidity area before further decline. The fundamental background is weak and the actual target is 1.0606 Globally, the market is neutral-bearish. The lower boundary of the symmetrical triangle on D1 is the actual target (testing the liquidity area). Based on the general situation on H4 it is worth paying attention to such zones as: Resistance: 1.0725 (possible false breakout) Support: 1.069 (breakdown. Consolidation below will activate sell-offs). The market has a potential of about 1.10%. No news today, the fundamental and technical background is still in place. Resistance levels: 1.0725, 1.0812 Support levels: 1.069, 1.0606 On the daily timeframe, last week is closing very poorly, which most likely may hint at a possible continuation of the decline. The key target has not been reached yet, the potential is open. Regards R. Linda!
Short
by RLinda
4
ETHEREUM → Rising to 4000? Positive fundamental background...BINANCE:ETHUSDT may end the correction phase and move into the distribution phase, the target could be 4000-4800. Fundamentally, ethereum is receiving positive signals from regulators. The price is breaking the resistance of the local correction pattern. The coin is trying to go beyond the consolidation range (breaking the bearish wedge resistance). A break of the local high will be a confirmation that the correction is over and the market is ready to move on. Earlier ETH-ETF was approved, the next stage is confirmation of S-1 form (admission to trading), SEC is actively working with issuers, trading may start this summer. Also, a positive sign of a strong market is the end of the SEC's judicial investigation against ConsenSys (Ethereum developer). Volumes are rising and like the price, traders are taking this fact positively. Resistance levels: 3650, 3730 Support levels: 3585, 3480, 3400 The price consolidation above 3650-3730 will confirm the end of the correction. Bulls in this case can take the situation into their own hands after a long accumulation, the target of which may be a test of high, as well as ath. Regards R. Linda!
Long
by RLinda
4
NZDUSD → Local trend change? Moving down ↓ ?OANDA:NZDUSD breaks trend support amid a strong dollar. The currency pair could move to the downside if the bears hold the resistance area on their count. On the daily timeframe, the currency pair is inside the sideways channel, but at the same time breaks the ascending support line. Thus, the market is starting to look towards 0.6084 support as an area of interest. The US market has a day off today, so the volatility may be low, but nevertheless we have prerequisites for the beginning of the downward movement. If the bears keep the price below 0.6150-0.6140, the market may enter the phase of downward movement and head towards such targets as: 0.6083, 0.6000. Resistance levels: 0.6140, 0.6170, 0.6215 Support levels: 0.6083, 0.6000 At the moment the market is struggling for the area of 0.6140. Consolidation below the level or the beginning of the impulse to the support will confirm that the bears are holding the market, then we will have to wait for the achievement of the goals. Regards R. Linda!
Short
by RLinda
2
Bitcoin - historical bull trap! + Name your altcoinMake sure you prepare for this huge historical bullish trap on Bitcoin. Why? First, look at the price action. We have a bullish flag, that's what everyone sees. The market makers count every cent on their accounts, and this is a pretty good opportunity for them to make a lot of money by trapping retail traders. What will a typical retail trader do in this situation? Probably buy/long BTC at around 71k to 75k. That's where the whales step in and start selling, sending BTC back to 63k! Why 63k? This is a strong support because we have an unfilled FVGAP + Point of control (POC) of the previous market structure. I really don't see any bullish sentiment during the summer season, as statistically, Bitcoin has been going sideways.  From the Elliott Wave perspective, we are in wave 5 of the first impulse wave, which is of course very bullish for the long-term, but buying at the end of wave 5 is probably not a good idea. What successful traders generally do is wait for an ABC corrective pattern to form before buying. In the comment section, name your altcoin, and I will make a technical analysis for you and my opinion! Please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Short
by Xanrox
261
PLTR Analysis: Daily and Weekly InsightsDaily Chart: Resistance Levels and Breakout Potential The daily chart of PLTR reveals a strong bullish movement with the price recently testing the resistance at 25.47. Historical resistance levels are marked at 25.47 and 27.50, where the price has previously faced rejections, as indicated by the red arrows. The 21-day EMA acts as a dynamic support level, maintaining the bullish momentum. A decisive break above 25.47 could signal further upward movement towards the next resistance at 27.50, while a failure to break could lead to a retest of the support at 24.03, or even the 21 EMA again. Weekly Chart: Ascending Channel and Sustained Uptrend The weekly chart shows PLTR trading within a well-defined ascending channel, indicating a sustained uptrend. The price is supported by the 21-week EMA, which aligns with the lower boundary of the channel. Key support levels include the 21-week EMA and the channel's lower boundary. The price is currently approaching the upper boundary of the channel, suggesting potential resistance around 26-27. A breakout above this channel could further accelerate the bullish trend, while a pullback might find support around 22-23. On the other hand, if PLTR loses the key support levels on the daily chart, we could see it retesting the 21 EMA/bottom line of its channel in sequence. Conclusion: Bullish Momentum with Key Levels to Watch Both the daily and weekly charts of PLTR indicate a strong bullish trend. On the daily chart, the key level to watch is the resistance at 25.47, with potential for a breakout towards 27.50. The weekly chart's ascending channel suggests sustained upward momentum, with support from the 21-week EMA. From now on, we should monitor these levels for breakout or reversal signals, with a focus on maintaining the bullish momentum above the key support levels. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
P
by Nathan_The_Finance_Hydra
SPY: Daily and Weekly Chart InsightsDaily Chart: Ascending Channel and Key Breakout The daily chart of the SPY shows a robust upward trend within an ascending channel. The price has been making higher highs and higher lows, respecting the channel's boundaries. Key levels include the lower boundary of the channel as dynamic support and the 21-day EMA as a critical support level. Recently, SPY broke above the previous top at 533.07, suggesting a continuation of the bullish trend. Only if the SPY loses the 21-day EMA and this $533.07 support we would see a mid-term pullback. If the price continues to respect the ascending channel, it could reach higher resistance levels around 560. Weekly Chart: Bullish Momentum and Support Levels The weekly chart highlights a strong bullish trend with consistent higher highs and higher lows. The price is well-supported by the 21-week EMA. Key support levels include the 21-week EMA and the previous swing low at 524.11. The recent break above previous highs around 533 indicates sustained buying interest. If the bullish momentum continues, SPY could move towards the 550-560 range. However, a break below the 21-week EMA might signal a potential correction, with the next support around 500-510. Conclusion: Strong Bullish Momentum with Clear Support and Resistance Both the daily and weekly charts of SPY indicate a strong bullish trend within an ascending channel. The recent breakout above the previous top at 533.07 on the daily chart and the consistent higher highs and higher lows on the weekly chart suggest that the bullish momentum is likely to continue. Key support levels to watch are the 21-day EMA at 534.43 and the lower boundary of the ascending channel on the daily chart, as well as the 21-week EMA at 514.79 on the weekly chart. Resistance levels include the upper boundary of the ascending channel and the psychological levels around 550-560. Overall, SPY appears poised for further gains as long as it remains within the ascending channel and above the key support levels. We should monitor these levels closely for potential breakout or reversal signals. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
AMEX:SPY
by Nathan_The_Finance_Hydra
SFPUSDT → Waiting for a bullish RALLY from 0.8650BINANCE:SFPUSDT shows a beautiful bullish picture. An interesting coin that has been accumulating potential for two years and currently shows bullish prerequisites for a possible growth or even a rally. The coin continues to push towards 0.8137, a liquidity area that plays a key role in the market. Consolidation continues, but based on the overall situation, the denouement is close enough. It is worth paying attention to the resistance of the ascending triangle on the daily timeframe: 0.8630 - 0.8650. Breakout and consolidation of the price above the key figure can become the reason for activation of the phase of realization of the accumulated potential, which can give us the growth to 1.10, 1.32, or 3.1. Support levels: 0.8137, 0.7500 Resistance levels: 0.8629, 1.0, 1.3238 The movement is slow, lagging behind the entire cryptocurrency market, but shows interesting prerequisites for a possible bullish momentum. Targets are indicated on the chart Regards R. Linda!
Long
by RLinda
4
AUDUSD → False breakdown of resistance. Ready to go down?FX:AUDUSD is forming a false break of the range resistance, but the market continues to struggle between traders. The focus is on the risk zone, the breakout of which will send the price flying downwards. The trend is neutral, after a long-range retest of 0.66676 resistance a false breakdown is formed and the buyer has no potential to go up. A retest of the local maximum is possible, but all the emphasis is on the support at 0.6648. A break of this area will be a confirmation of the buyers' loss, as well as a break of the local uptrend, which will provoke the formation of a strong bearish impulse. Resistance levels: 0.6668, 0.6715 Support levels: 0.665, 0.6558 Most likely, the buyers' strength will not be enough to pass the mentioned resistance from the first time. At the moment the seller is pushing the market and if the key support area is broken, the market will change its local mood Regards R. Linda!
Short
by RLinda
13