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Channeltrend

DXY to continue declineDXY started a recovery from 100.257 from the heavy decline due to the pause in the interest rate hikes back in December 13th, 2023. The index started to recover from 28th December and to 102.723 due to the positive news from the last Friday NFP fundamentals. Price was quickly knocked down by the negative news on the ISMs late Friday. DXY January candle has done a retracement unto the 61.8%-78.6% (EMA 20) of the December bearish candle. As a result of the retracement on the December candle, the DXY is expected to retest the weekly EMA 200 on the key level 100.500 and as at the ending of last Friday, price was resisted by the weekly resistance. On the Daily, the DXY index is expected to retest the EMA 200 at 101.706 and subsequently retest the key level 101.500 again. The important fundamentals this week are mainly the Thursday's Core CPI m/m and the Friday's PP1 m/m where the economists are projecting a negative news for the CPI. We need to keep an eagle eye on the news this week to make informed decisions.
CAPITALCOM:DXY
by AbeikuGlobal_FX
2
#USDCHF possible bullish scenarioPrice is currently testing the lower boundary of a daily bearish channel , the 1 FIB extension level , and a long-term support area . This supportive cluster could potentially lead to the formation of a low around this price level. On the other hand, the bearish move in price appears to be a corrective bearish ABC move , correcting approximately 61.8% to 78.6% from the previous bullish move. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Long
by mohemati
12
Downsite Retracement⁉️ "The price of Solana has started to move up from the bottom of the channel in the past 58 days and is now at the top."✅ 🔴Solana's price is still about 30% below its all-time high in November 2021. If Solana's price can break through its channel top, we may see a continuation of the upward trend. However, if Solana's price falls below the channel top, we may see a price correction.⛔️ While the Fibonacci retracement levels indicate a potential correction for Solana, with 61.8% (47.36) and (64.73) as possible entry💹
by AMP-BABY
HIVE Next Steps 2023 Q3 & BeyondAm expecting HIVE to continue consolidating within a reversal Head & Shoulders pattern. Applying the trendlines to the fib line retracement and extension mappings, building out the various channels and then overlaying the relevant pattern(s), it appears the bottom of the right shoulder is approx. $2.80 and the future target is approx. $28. DYOR NFA ... if $2.80 breaks, may result in a double-bottom around the $0.30 range. Enjoy every sandwich :)
NASDAQ:HIVELong
by kerdirks
4
AUD/USD: Reversal Sell Opportunity Confirmed!!!On November 29 and 30, AUD/USD touched a crucial pivot point at the price of 0.66411, indicating a potential change in direction, especially as it aligns with a level of miring Support and Resistance, suggesting a Major downtrend. The bearish reversal signal on the daily candle following the pivot point touch adds confidence to the potential downturn. The recent dovish stance conveyed by the Reserve Bank of Australia (RBA) further adds pressure on AUD/USD. Technical Analysis: Pivot Point and Support/Resistance: The price hitting the pivot point at 0.66411 suggests a potential reversal, particularly at the miring Support and Resistance level. Bearish Reversal Signal: The formation of a bearish reversal pattern after touching the pivot point indicates weakness in the bullish momentum. Major Downtrend: The trendline illustrates that AUD/USD is currently experiencing a Major downtrend. Fundamental Analysis: Dovish RBA Stance: The dovish statement from the RBA can enhance the downward pressure on AUD/USD. Trading Scenario: Considering the above factors, traders may contemplate the following scenario: Wait for Correction: Exercise patience until the price undergoes a correction from the 0.66411 level. Sell Limit with Confirmation: Initiate a sell position after a correction, with confirmation of further downside. Confirmation could involve the formation of a bearish pattern. Target Take Profit: Set a take profit target around 0.64660, an area indicating the potential for further decline. Stop Loss: Safeguard the position by placing a stop loss above the nearest resistance level or above the high of the confirmation candle. It's crucial to continuously monitor market conditions, stay informed about the latest news, and practice prudent risk management. Trading always involves risks, and the final decision remains the responsibility of the trader.
Short
by fardycurry
2
Bitcoin is in a critical zone!As in the previous analysis that I published 12 days ago (Its details are in the ideas section of my profile), I mentioned that we are at the end of the downward trend, but I expected that before the main upward trend, the price would drop to around 24k to complete the downward trend.Anyway, as I specified in the chart, Bitcoin at the price of 30,849 is an important point for me, and until we reach it, the previous analysis can continue to be strong (although based on the price momentum, I find it unlikely). If this point is touched, the next price target will be 35149, and I consider any drop as an opportunity for a long position, which is also there in an important CME Gap. I need to explain that I consider this wave to be the last rise in price and after that I will wait for a big fall. I will announce further updates if needed.
Long
by lamantra
AUDUSD ShortThe AUDUSD pair is currently trading at around 0.63, which is close to the lower bound of the downtrend channel. If the pair breaks below this level, it could lead to further losses. However, there is a support level at 0.63, which is likely to provide some support to the AUDUSD pair in the near term. In the 1-day chart, the AUDUSD pair is moving in a downtrend channel, but the support level of 0.63, which is pushing the trend in an upward direction. There is also a possibility of a breakout downside, which suggests that the AUDUSD pair may continue to fall in the near term. Keep AUDUSD in close watch and for short-term profit one can buy till 0.65
by FxPercent
#OIL buying opportunityConsidering the recent bullish momentum in the oil market, characterized by a clear market structure of establishing higher highs and higher lows while respecting to a short-term bullish channel, we anticipate that oil prices will rise from their current low, as depicted on the chart. In addition to the bullish channel, there are other bullish indicators on the chart. Notably, the 1-hour 200EMA (Exponential Moving Average) has consistently provided strong support during this recent bullish phase. Every time the price has approached this EMA, it has turned upwards. Furthermore, the current price level is situated within a 4-hour demand area, which further enhances the possibility of a bullish movement. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
CAPITALCOM:OIL_CRUDELong
by mohemati
1
#GBPJPY Selling opportunityHello, traders and friends. I hope you are all doing well. Let's delve into GBPJPY and explore why we believe there may be a potential selling opportunity. As you can observe, the price has been in a bearish channel for the past few weeks, consistently reacting near the upper boundary. This pattern suggests the possibility of a repetition, offering another favorable selling opportunity. Apart from the bearish channel's upper boundary, we have additional factors supporting a bearish scenario. These include a supply area and a liquidity pool located just above the horizontal arrow line. Price could potentially move into this area, clear out liquidity, and then trend lower. For us to consider taking this position, we would need to see a fake breakout above the arrow line, followed by a failure of the price to close above it. If you have found this analysis helpful, please take a moment to leave a like and a comment.
Short
by mohemati
2