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Candlestick Analysis

STOXX50: Bullish Momentum in Play - Is 5,345 the Next Target?PEPPERSTONE:EUSTX50 remains within a well-defined ascending channel, with price currently bouncing off a key support area. This suggests a continuation of the broader uptrend, targeting the upper channel boundary. A short-term pullback could offer a potential entry opportunity. If buyers step in and confirm strength through candlestick patterns like bullish engulfing or hammer formations, momentum could drive price higher toward the 5,345 level. A breakdown below the channel's lower boundary, however, would invalidate the bullish outlook and signal a potential shift in market direction.
ICMARKETS:STOXX50Long
by TrendDiva
1
USDJPY with a 2.95 Profit Factor on the 1-Hourly ChartI’m keeping a close eye on USDJPY right now, and here’s why: - High Profit Factor : Target 1 offers a whopping 2.95 Profit Factor, which is quite attractive. - Timing : Even though NFP is coming up tomorrow, this trade is on the 1-hourly chart. It’s possible that price action could reach my first target or meet the criteria that allows me to shift my stop to entry, thus achieving a risk-free trade, before the big event. Key Points to Remember: - Volatility Alert : NFP can cause sudden market movements. Keep that in mind and monitor your positions closely. - Risk Management : Once the market fulfills the criteria for Target 1, I plan to shift my stop to entry. This approach helps protect any unrealized gains and reduces stress during high-volatility news. If you’re considering this trade, stay cautious around the NFP release, and remember to include our stop-loss buffer to manage your risk effectively. What’s your take on USDJPY heading into NFP? Are you eyeing any other setups? Share your thoughts below! Happy trading, everyone! 🚀
Long
by RaynLim
Two important Resistances to conquer for Nifty ahead. There are 2 important resistances for Nifty ahead which need to be conquered for the Bull run that started post budget to sustain. These 2 resistances are at 23630 and 23809. Today Nifty made a good comeback from lows of the day which was near 23556 to close at 23603. The resistnace near 23809 acted again as Nifty plummeted from the level of 23773 to fall to 23556. The trend line shown in the chart acted as support for Nifty to come back into the game. There are 3 important events coming up later. RBI Policy where market is expecting a rate cur. Delhi election results and finally Income tax bill to be tabled in the parliament. Market is fearing a little bit and hoping that there is no bad news related to LTCG or STCG etc. in the bill. Nifty supports remain at: 23556, 23498 and 23484 (Mother and Father line of the daily chart). If this line is broken we can see Nifty falling to old support system of 23376 and 23222. Closing below 23222 can bring the Bears back into the game and calling the shots again. Nifty Resistances remain at: 23630 and 23809. If these to resistances are conquered we can a strong up move towards 24K level with resistances at 23991, 24197 and 24344 level. Above 24344 level Bulls will come out of ICU and start taking control of the system. Shadow of the candle right now is absolutely neutral. Tomorrows closing will be very important a closing above 23630 will be good but closing above 23809 will be great. Similarly a closing below 23556 will make the market weak. Nicely balanced right now. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
AUD/USD: Battle at .6262 – Bounce or Breakdown Ahead?AUD/USD is testing minor support at .6262 following a failure to break the 50DMA. Whether it holds this level may determine which direction it takes later in the session. If the price can’t break .6262 convincingly, longs could be established above with a stop beneath for protection. The aim would be to see a retest of the 50DMA with a break of that level opening the door for a run towards .6337. However, a clean break of .6262 could see the setup flipped, with shorts placed below the level with a stop above for protection. .6170 screens as one possible target with .6088 the next after that. Momentum indicators are providing mixed signals with RSI (14) trending lower while MACD has resumed its climb higher. Based on price action earlier in the week, a bullish bias is marginally favoured overall. Good luck! DS
by FOREXcom