GOLD Will Grow! Buy!
Please, check our technical outlook for GOLD.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 2,782.14.
The above observations make me that the market will inevitably achieve 2,800.00 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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Dow Jones Potential UpsidesHey Traders, in tomorrow's trading session we are monitoring US30 for a buying opportunity around 41900 zone, Dow Jones is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 41900 support and resistance area.
Trade safe, Joe.
$MATH at the crossroadsNASDAQ:MATH doesn't always respect trends and has even broke through them before without much fanfare. It has been idle for awhile now and converging on decision time. If it breaks down, I do not expect it to go lower than my green buy box. However, if it breaks up, I do think it will hit some nice take-profits. Dream scenario is the end of my zig-zag line. Lol.
CHF/JPY: Bullish Momentum Builds Amid Market SentimentContrarian Signal Boosts CHF
With 82% of traders positioned short on CHF/JPY, a strong bullish contrarian signal has emerged, pushing the pair upward as short-covering fuels gains. Technical support around 175.00 has held firm, reinforcing the bullish trend. Favorable Swiss economic stability vs. Japan's dovish policy further supports CHF’s strength in the near term.
Gold Potential UpsidesHey Traders, in today's trading session we are monitoring XAUUSD for a buying opportunity around 2745 zone, Gold is trading in trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 2745 support and resistance area.
Trade safe, Joe.
NAS100 Will Go Up From Support! Long!
Take a look at our analysis for NAS100.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 20,379.97.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 20,800.00 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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GBPJPY Will Move Higher! Buy!
Take a look at our analysis for GBPJPY.
Time Frame: 1h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 199.119.
The above observations make me that the market will inevitably achieve 199.813 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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USDJPY Is Going Up! Long!
Take a look at our analysis for USDJPY.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 151.777.
The above observations make me that the market will inevitably achieve 153.232 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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NZD/CHF BUYERS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
NZD/CHF pair is trading in a local downtrend which we know by looking at the previous 1W candle which is red. On the 8H timeframe the pair is going down too. The pair is oversold because the price is close to the lower band of the BB indicator. So we are looking to buy the pair with the lower BB line acting as support. The next target is 0.525 area.
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EUR/GBP BULLS ARE STRONG HERE|LONG
Hello, Friends!
Bullish trend on EUR/GBP, defined by the green colour of the last week candle combined with the fact the pair is oversold based on the BB lower band proximity, makes me expect a bullish rebound from the support line below and a retest of the local target above at 0.833.
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GME GameStop - Short Squeeze in the Making!If you haven`t bought GME before the previous breakout:
Now you need to know that GameStop (GME) is creating a buzz in the options market, especially as it gears up for an exciting week ahead!
After experiencing an astronomical increase of over 121X in less than four months in the past, GME has captured the attention of traders and investors alike.
This dramatic surge in price has raised speculation about the potential for another gamma squeeze, reminiscent of the impressive rallies seen in the past.
With calls at the $125 strike price set to expire on January 17, 2025, there's palpable optimism in the air!
The notable volume of these calls suggests that investors are positioning themselves for a significant move.
Traders are eager to capitalize on the momentum that GME has built, especially with historical patterns indicating that such surges often lead to increased volatility and price spikes.
The options chain for this Friday looks extremely bullish, with an uptick in activity signaling strong demand for GME calls.
The convergence of high open interest and the upcoming expiration date has the potential to ignite a new wave of buying pressure, further fueling the chances of a gamma squeeze.
As more traders enter the market, the cascading effects of rising call prices could push the underlying stock higher, benefiting those who are well-positioned in the options market!
ETH Ethereum Potential retracement soonIf you haven`t bought the recent Double Bottom on ETH:
Now Ethereum might be facing bearish pressure following the U.S. Department of Justice's (DOJ) launch of a criminal investigation into Tether, the issuer of the widely used stablecoin USDT.
According to reports from the Wall Street Journal, this investigation is led by the U.S. attorney’s office in Manhattan and focuses on potential violations of sanctions and anti-money laundering regulations.
As Tether’s USDT is a crucial component of the cryptocurrency ecosystem, widely utilized for trading and liquidity on various platforms, any negative developments regarding its regulatory compliance could have significant ramifications for Ethereum. Tether's stability and its ability to maintain its peg to the U.S. dollar are vital for many trading pairs involving Ethereum. If the investigation reveals serious issues, it could lead to a loss of confidence in USDT, prompting traders to seek safer alternatives or even pull out of the market altogether.
The ripple effects of Tether’s troubles may extend to Ethereum and other cryptocurrencies that depend on stablecoins for liquidity. A decline in USDT’s credibility could trigger panic selling, as traders rush to liquidate their positions in Ethereum and other assets, leading to increased volatility and downward pressure on prices. This scenario could particularly impact Ethereum, given its integral role in decentralized finance (DeFi), where USDT is frequently used for collateral and trading.
The scrutiny surrounding Tether may prompt regulators to cast a wider net over the cryptocurrency market, leading to increased oversight of other stablecoins and projects operating on the Ethereum network. This heightened regulatory environment could deter new investments and innovations within the Ethereum ecosystem, hindering its growth potential.
Bitcoin Faces Bearish Pressure Amid Tether InvestigationIf you didn’t purchase BTC before the last rally:
Now Bitcoin's recent performance may be overshadowed by growing concerns surrounding the stability of the cryptocurrency market, particularly in light of the U.S. Department of Justice (DOJ) launching a criminal investigation into Tether, the issuer of the popular stablecoin USDT.
According to reports from the Wall Street Journal, this investigation, spearheaded by the U.S. attorney’s office in Manhattan, is examining potential violations of sanctions and anti-money laundering regulations.
Tether has been a crucial component of the cryptocurrency ecosystem, as its dollar-pegged stablecoin is widely used for trading and liquidity across numerous exchanges. Any negative developments in the investigation could undermine confidence in USDT, leading to broader implications for Bitcoin and other cryptocurrencies that rely on stablecoins for stability and transaction efficiency.
Investors may become increasingly wary, fearing that regulatory actions could restrict Tether's operations or even jeopardize its ability to maintain its peg to the U.S. dollar. A loss of faith in USDT could trigger panic selling, as traders might rush to liquidate their positions in Bitcoin and other assets, leading to increased volatility and downward pressure on prices.
The scrutiny surrounding Tether could prompt regulators to examine other stablecoins and cryptocurrency projects more closely, adding to the uncertainty and potential for further regulatory crackdowns. This environment of increased regulatory oversight could deter new investors from entering the market and may lead existing investors to reassess their positions.