EUR/USD LONG FROM SUPPORT
Hello, Friends!
Previous week’s red candle means that for us the EUR/USD pair is in the downtrend. And the current movement leg was also down but the support line will be hit soon and lower BB band proximity will signal an oversold condition so we will go for a counter-trend long trade with the target being at 1.078.
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Buy
ETH Gearing Up for $4,000?The ETHUSDT chart shows a potential bullish scenario, with Ethereum forming a rounded bottom pattern on the daily timeframe. Currently trading around $3,333, ETH has rebounded significantly from its previous lows, indicating a strong upward momentum.
Key Points to Consider:
Rounded Bottom Formation: This pattern typically suggests a reversal of the downtrend, hinting at a possible sustained upward movement if the formation completes.
Fibonacci Levels: The chart marks key Fibonacci retracement levels, which could act as future support or resistance. The target at the 1.618 Fibonacci extension is around $4,008, suggesting a potential upside if ETH breaks through resistance levels.
Resistance at $4,000: The area around the $4,000 mark could pose significant resistance, which aligns with the completion of the rounded bottom. Breaking through this level might signal a stronger bullish continuation.
Potential Strategy: Traders might consider looking for a breakout above the $3,386 level as an entry point, with an initial target near $4,000. However, a failure to hold above key support levels could indicate a reversal, so close monitoring is advised.
Bitcoin Eyes $100K – Next Stop in the Bull Run?Currently, Bitcoin is trading within a strong upward trend, breaking past previous resistance zones. If the price holds above the $73,829 level (the 1 Fibonacci level), it suggests a clear path toward the next Fibonacci extension at the 1.618 level, around $103,898.
The structure on the chart shows a steady formation with higher lows and recent bullish momentum. The area around $73,829 serves as a critical support level, and any retracement toward this level could present a buying opportunity for further upward movement.
Should Bitcoin continue to gain momentum, a push toward the psychological $100,000 mark could be within reach, potentially marking a historic level for BTC traders and investors.
GBPJPY Is Approaching The Main Trend.Hey Traders, in today's trading session we are monitoring GBPJPY for a buying opportunity around 196.500 zone, GBPJPY is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 196.500 support and resistance area.
Trade safe, Joe.
A 14% drop in $VKTX and I might still win. Here's why! NASDAQ:VKTX
A 14% drop in NASDAQ:VKTX and I might still win. Here's why!
In this video analysis update on my position in NASDAQ:VKTX , we will discuss why I didn't sell after the 14% pullback and why it's important not to sell based on price movement! Enjoy.
Have you ever sold a stock and right after it flew to the upside?
SILVER Is Going Up! Long!
Here is our detailed technical review for SILVER.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 30.422.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 31.289 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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EURUSD Will Grow! Buy!
Take a look at our analysis for EURUSD.
Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 1.061.
The above observations make me that the market will inevitably achieve 1.068 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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SILVER BULLS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
SILVER downtrend evident from the last 1W red candle makes longs trades more risky, but the current set-up targeting 32.262 area still presents a good opportunity for us to buy the pair because the support line is nearby and the BB lower band is close which indicates the oversold state of the SILVER pair.
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XRP Hits Resistance Level: Will It Break Through?Based on the XRP/USDT chart, it appears that XRP is trading within a clear rectangular range, with resistance around the $0.64 level and support near $0.53. Recently, XRP attempted to break above this range but has returned within the channel after facing resistance.
Looking forward, if XRP successfully rebounds from the $0.55-$0.53 support zone, there is a potential for it to challenge the upper resistance level once again. Traders should watch for confirmations around these key support and resistance levels, as a breakout above or below could signal a new trend direction.
EUR/USD Under Pressure Amid USD Strength and Eurozone ConcernsToday, the EUR/USD currency pair is under downward pressure due to a strengthening U.S. dollar.
This decline follows recent market uncertainty, particularly as the U.S. political landscape has experienced volatility, and strong U.S. economic data has fueled demand for the dollar.
The euro has also been weakened by economic concerns in Europe, including ongoing challenges in Germany, which have reduced investor confidence in the eurozone's stability.
Looking forward, the EUR/USD pair may face further downward movement if the U.S. economy continues to strengthen, driving expectations of higher interest rates.
If the pair breaks below the 1.0650 support level, it could move towards lower levels in the short term. However, political events and economic data will remain key factors influencing the pair's direction.
SPY S&P 500 ETF End of the Year Price Target If you haven`t bought the recent dip on SPY:
Now with Goldman Sachs lowering U.S. recession odds from 20% to 15% and raising their 2024 year-end S&P 500 target to 6000 from 5600, the outlook for the market appears increasingly optimistic.
The reduced recession risk suggests stronger economic stability, and the upward revision in the S&P target points to continued growth potential.
Given these factors, I agree that a year-end price target of 600 on SPY is achievable.
Gold Price Today: USD Strength Causes Sharp DeclineGlobal gold prices have sharply decreased as the USD Index rose to 105.5 points, marking the dollar's highest level in over four months.
The decline in gold is largely driven by the strength of the USD and rising Treasury yields.
Additionally, a steep drop in crude oil prices to $68 per barrel and gains in U.S. stocks have shifted investor interest toward energy and equities.
Consequently, investment in precious metals remains low, further pressuring gold downward.
The short-term bearish trend is expected to continue, with more selling anticipated
DOGE Dogecoin BreakoutIf you haven`t bought DOGE before the previous breakout:
nor sold the top:
Now you need to know that is primed for a new rally!
Dogecoin appears poised for a new rally after breaking out from a falling wedge pattern, a bullish technical indicator. The wedge typically signals a reversal from a downward trend, suggesting upward momentum. As the breakout solidifies, Dogecoin could target the $0.22 price level, a significant resistance zone. Strong buying volume following the breakout could fuel the rally, supported by renewed interest in the meme coin and broader market sentiment.
SOLUSDT : Uptrend channel continues to operate SOLUSDT is currently trading within an ascending channel, as indicated by the price's movement along the parallel trendlines. The chart shows a potential for price retracement towards the channel's lower boundary near the $200.20 level, where a support zone is established. If this support holds, the price might experience a rebound back towards the upper trendline of the channel, targeting higher levels around $215 and above.
The moving averages also support the overall upward trend, with a potential bounce scenario that could confirm the continuation of the bullish structure within the channel.
BTCUSDT: Strong Buy Opportunity on Key Support RetestBTCUSDT is trading around 81,230 USDT, with bullish momentum showing signs of a potential pullback toward the support zone between 79,113 and 77,188 USDT (highlighted in blue). This area has consistently acted as a solid support and aligns well with the moving average, suggesting a favorable entry point for buyers.
A pullback to this zone presents an ideal buying opportunity, with the potential for BTCUSDT to bounce back strongly and push toward new highs above 82,000 USDT. The expectation is for BTC to maintain its bullish trend upon reaching this support, providing an attractive setup for long positions.
ET Energy Transfer Options Ahead of EarningsAnalyzing the options chain and the chart patterns of ET Energy Transfer prior to the earnings report this week,
I would consider purchasing the 16.50usd strike price Calls with
an expiration date of 2024-11-15,
for a premium of approximately $0.22.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
US30 Will Go Up From Support! Buy!
Here is our detailed technical review for US30.
Time Frame: 17h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 44,172.7.
Considering the today's price action, probabilities will be high to see a movement to 44,971.3.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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USDJPY Will Go Up! Long!
Please, check our technical outlook for USDJPY.
Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 153.692.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 157.722 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!