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Consolidation

GOLD → Consolidation and correction before growthFX:XAUUSD continues to consolidate after a strong rally. The market is returning to a bullish trend, but a correction is possible before growth continues... Gold is rising amid expectations of Fed policy easing. The market is finding support amid: a 90.5% probability of a Fed rate cut in September, weak US employment data, and dovish comments from Fed officials. The market is waiting for news that could determine further movement. ISM Services PMI data: strong figures could temporarily support the dollar, while weak figures could increase pressure on the USD. Questions about the Fed's independence after Trump fired the head of the BLS. Gold is maintaining its upward momentum, but its dynamics will depend on macro statistics and the Fed's response. Technically, the focus is on the local trading range of 3385 - 3363 - 3353. Resistance levels: 3385.4, 3433 Support levels: 3362, 3353, 3345 A retest of support and holding the price above key support could trigger a continuation of the uptrend, but it is important to pay attention to the fundamental background. Best regards, R. Linda!
FX:XAUUSDLong
by RLinda
19
GOLD → Consolidation after the rally...FX:XAUUSD is not falling back after a strong rally, but is consolidating against resistance at 3362.8. Continued high demand could allow the market to strengthen... The price of gold halted its two-day rally, trading around $3362.8 on Monday morning after weak US employment data. This heightened concerns about the US economy and increased the likelihood of a Fed rate cut in September to 80%. Additional pressure on the dollar came from the dismissal of BLS chief Erika McAntfer, which raised suspicions of statistics manipulation. Market attention is also focused on US-Canada trade talks, which could affect investor sentiment. Gold is consolidating for now, but its further growth will depend on the dynamics of the dollar and macroeconomic data. Resistance levels: 3362.8, 3383, 3433 Support levels: 3345, 3334 As the market has now entered a consolidation phase, MM may form a retest of support before a possible rise in order to accumulate liquidity. However, a breakout of resistance at 3362.8 could trigger further growth. Best regards, Linda!
FX:XAUUSDLong
by RLinda
14
XRPUSDT → Hunting for liquidity ahead of a possible declineBINANCE:XRPUSDT.P is forming a downward market structure after a false breakout of global resistance. Bitcoin is in a correction phase and, after a slight rebound, may continue its movement... Bitcoin has entered the sell zone. The price is consolidating below the global consolidation boundary of 115,500 during the retest, and if Bitcoin continues to decline, this could trigger a downward movement across the entire cryptocurrency market. XRP is forming a bearish market structure. After capturing liquidity and a false breakout of resistance, the price is returning to a bearish trading range. There is no potential for continued growth at this time. A consolidation of the price below 3.00 - 2.996 could trigger further sell-offs. Resistance levels: 2.996, 3.050, 3.181 Support levels: 2.996, 2.891, 2.74 The local bearish structure will be broken if the price starts to rise, breaks 3.050, and consolidates above it. In this case, XRP may test 3.181 before falling further. At the moment, after a false breakout of resistance, the price is consolidating in the selling zone, and the downward movement may continue. I consider 2.74 - 2.655 to be the zone of interest in the medium term. Best regards, R. Linda!
Short
by RLinda
7
BITCOIN → From consolidation to distribution. Market weaknessBINANCE:BTCUSDT.P is moving from consolidation to a correction phase. The price broke through the support zone of 114.5–115.5, closing within the Friday trading session in the sell zone... Previous idea from July 22: BITCOIN → Consolidation and compression to 116K. Correction? The fundamental background is shifting to neutral, the hype has temporarily ended, and there are no bullish drivers yet. And for the health of the market, a correction is needed. Bitcoin is breaking the neutral consolidation structure. The previous trading session closed below the support range, which generally indicates market weakness. Despite the global bullish trend, Bitcoin is moving from consolidation to a correction phase, with 112K - 110.5K serving as points of interest in this case. Before the fall, liquidity may be captured in the 114K - 114.800 zone. Resistance levels: 114.05, 114.85, 115.67 Support levels: 112.03, 110.48 After a strong movement, the market may enter a correction or local consolidation, during which it may test the specified resistance zones before continuing its downward movement to the zone of interest and liquidity at 112 - 110.5. Best regards, R. Linda!
Short
by RLinda
20
USDJPY → False breakdown of upward trend supportFX:USDJPY is testing trend support as part of a correction triggered by news. The dollar has been recovering since the start of the session, giving the pair a chance to rise. As part of a correction against the backdrop of sharp and unexpected Friday NFP data, the currency pair is forming a false breakdown of trend support and testing the 0.7f buy zone. The market is reacting to the retest of support. Momentum is forming. Focus on the local range of 147.6 - 147.9. If the bulls keep the price above this consolidation, the price may continue to rise Resistance levels: 147.95, 149.02 Support levels: 157.55, 147.0 Focus on the trend and the indicated consolidation, which may move into the realization phase. If the bulls take the initiative, the pair will have a chance to rise to 149 - 150.8. Best regards, R. Linda!
Long
by RLinda
1
GOLD → Long squeeze of support ahead of possible growthFX:XAUUSD is entering a consolidation phase after a rally. The market is forming a trading range, and a retest of support could end in growth... Gold pulled back from an 8-day high ($3391) on profit-taking ahead of Trump's Fed appointments. Weak ISM services data (50.1) and a pause in the dollar's weakening added pressure, although expectations of Fed policy easing in September remain supportive. The market focus is on key events: Fed appointments (including a possible replacement for Powell) and Trump's trade statements. These factors could provide new momentum after the current correction, as long as the fundamental drivers for growth remain in place. Resistance levels: 3385.4 Support levels: 3358, 3350, 3345 Technically, the price has confirmed resistance after a false breakout, and the market needs to build up potential for a possible continuation of growth. At the moment, the most likely scenario is a long squeeze (false breakdown) before growth continues. Focus on the key support zone. Best regards, R. Linda!
FX:XAUUSDLong
by RLinda
7
USDCAD → Short squeeze for further declineFX:USDCAD is forming another short squeeze relative to the global price range ahead of a possible decline within the global downtrend. After breaking through the resistance of the global trading range, USDCAD was unable to continue its upward momentum. The price returned to the range, under strong resistance, and is forming a pre-breakdown base for a possible decline. The trigger in our case is support at 1.3762. The dollar is stagnating, trading below strong resistance. A decline in the dollar could trigger a fall in USDCAD Support levels: 1.376, 1.3695, 1.3629 Resistance levels: 1.3774, 1.3809 The market structure is quite weak, both globally and locally. In addition, against the backdrop of an expected rate cut, the dollar may continue its downward global trend, which may also affect the price of the currency pair, which has formed a false breakout of resistance... Best regards, R. Linda!
Short
by RLinda
5
Crypto consolidating ahead of rally towards All Time HighsWith US equity markets closed for Juneteenth, I'm checking in on an equal weight basket of cryptos. Recently I said crypto looked to be heating up for a run at new highs. As I look today, prices appear range bound on the daily chart. There's a bearish double-top formation, beside declining momentum. The bottom of the range resting at the 200 Day Moving Average, and a test of it seems likely. Should there be a bounce off the 200 Day SMA, and a break through the top end of the range we might get a shot at those new All Time Highs.
BITSTAMP:BTCUSDLong
by quickshiftinn
GOLD → The rally following weak NFP data may continueFX:XAUUSD is moving into distribution (rally) on the back of unexpected NFP data released on Friday. The dollar is plummeting... Fundamentally, the gold market is getting support from an influx of funds after the unexpectedly weak NFP report. Against this backdrop, Trump said that the employment data had been “rigged” to make him look bad... I believe that the situation is somewhat different: the president's administration failed to control this moment, hoping to see positive dynamics. Powell now has a small trump card to control his actions. The reduction in interest rates will most likely be postponed until the fall. Technically, on D1, gold is rebounding from the support of the global trading range, forming a local bullish trend that coincides with the global one. Resistance levels: 3362.8, 3383, 3433 Support levels: 3345, 3334 Gold is exiting the local downward channel, breaking through resistance at 3334 and 3345. Consolidation is forming, and by the end of the session, the price will break through resistance at 3354.75. The market is quite strong. Focus on two levels: 3362.8 and 3354.7. At the opening of the session, the price may attempt to break through the resistance level of 3362.8. If gold consolidates above this level, growth may continue. If not, then before further growth, the market may test the support level... Best regards, R. Linda!
FX:XAUUSDLong
by RLinda
23
SP500 → Countertrend correction before growthFX:SPX500 is correcting against an upward trend. In the second half of the week, the market received fairly positive fundamentals during the reporting period. S&P 500 futures found support after strong reports from Meta and Microsoft, which exceeded earnings expectations and forecasts thanks to AI. The rise in futures supported demand for the “Magnificent Seven” despite Powell's hawkish comments. The focus is on Apple and Amazon reports in the evening, which could strengthen the tech rally. On Friday, we are seeing a countertrend correction in which the market is testing the 6288 zone of interest. Support levels: 6288.4, 6262.6 Resistance levels: 6342, 6371 Most likely, the market will form a false breakout of support during the correction. If the bulls keep the index above the key level, we can expect continued growth in the short and medium term. Best regards, R. Linda!
FX:SPX500Long
by RLinda
6
XRPUSDT → Range formation. Retest of resistanceBINANCE:XRPUSDT.P , after a false breakout of the daily resistance level of 3.352 and the elimination of traders, has entered a correction phase. The trading range shown below has been formed, with an emphasis on resistance... XRP previously formed a false breakout of the daily resistance level of 3.352, as indicated in the idea above. After changing its market character, the price entered a correction phase. Focus on the range of 3.00 - 3.264. A retest of resistance (zone of interest and liquidity) is possible before falling to 3.161, 3.05 or to the liquidity zone of 3.00. There are no technical or fundamental reasons for exiting the consolidation; most likely, a retest of the zone of interest may end in manipulation and a pullback to support... Resistance levels: 3.1609, 3.264, 3.352 Support levels: 3.05, 3.00 I do not rule out the fact that a retest of the 3.264 resistance level may have a breakout structure and the price will continue to rise, but based on the price behavior pattern on D1, the market structure, and market stagnation, I conclude that at the moment, the chances of seeing a correction from resistance are higher. Further developments will need to be considered after the retest of key zones on the chart... Best regards, R. Linda!
Short
by RLinda
12
Decision Zone for DXY This Week: Around 97.600After a significant downward expansion in DXY, we observed a consolidation around last week's low. This week, the market opened with a pullback. The first stop for this pullback appears to be the current daily fractal high candle and the weekly bearish FVG on the chart. We can assess potential selling pressure from this area on lower timeframes. We'll be monitoring the wicks within this zone, along with any newly forming FVGs. If the price breaks above this area, our next points of interest will be the gaps within the zone above the 0.5 swing level, and ultimately the swing high itself as the final target. Given the current setup, we believe there are promising trading opportunities on EURUSD. Take care until the next update!
TVC:DXY
by FundedTraderMarkets
BITCOIN → Correction within a downward channel. 112K or 125K?BINANCE:BTCUSDT is consolidating. However, a local downward trading range is forming relative to the current setup. What is the probability of a correction continuing to 112K or growth to 125K? Daily structure: a local correctional channel within a global bullish trend. We have cascading resistance at 119.2, 119.6, 120, and 120.8. It will be quite difficult to break through this zone on the first attempt, but MM can use it to form traps and collect liquidity. At the bottom, everything is simpler — a breakdown of the local bullish structure, the formation of an intermediate minimum, below which there is a void down to 112K. Yesterday, relative to 115-116K, mm staged a massacre (trap) on both sides of the market. Liquidity collection, return to the range, and growth. The reaction to the false breakdown of support is quite strong. Since the opening of the session, Bitcoin has been heading towards resistance, but there may not be enough potential to break through the upper resistance conglomerate, so I expect to see a pullback or decline to 116-115-114. Resistance levels: 119.2, 120.1, 120.85 Support levels: 116.37, 115.67, 112 Technically and fundamentally, I do not see any drivers that could support the market (I am talking about Bitcoin, since the driver for altcoins is the decline in Bitcoin's dominance). It is possible that this may appear later. In the current situation, I am considering a false breakout and correction, as the market has not yet finished consolidating or correcting, and the current downward trading range may be extended. PS: As the price moves towards resistance, it is necessary to monitor the reaction. The market itself will show what it is preparing for... Best regards, R. Linda!
Short
by RLinda
30
GOLD → False breakdown 3310. Consolidation ahead of news...FX:XAUUSD is forming a false breakdown of support at 3310, thereby confirming the boundaries of the trading range. The dollar is testing strong resistance within the global downtrend. And in the near future, we can expect more economic news... Gold is trading below the key resistance level of $3345, remaining in a narrow range ahead of the Fed's decision and US GDP data for Q2. Weak data could reinforce expectations of a rate cut and support gold, while strong data would strengthen the dollar. The Fed is likely to keep rates at 4.25–4.5%, with markets pricing in a 64% chance of a 25 bps cut in September. Investors are waiting for signals from Jerome Powell, with a possible split within the Fed: some members may support calls for easing, which would be a driver for gold. Technically, the situation on D1 is quite interesting. Gold is still below the previously broken trend resistance, but there is no continuation of the momentum. Buyers are reacting to support at 3310, but the market is stagnating due to uncertainty ahead of the news... Resistance levels: 3345, 3375 Support levels: 3320, 3310, 3287 Thus, from a technical analysis perspective, I expect a retest of 3345, followed by a pullback to support at 3320, from which gold could move higher (if the bulls take the initiative), but if 3320 breaks and 3310 comes under pressure, gold could test 3287. Again, the emphasis is on trend support (the upward line) in the 3335-33450 zone. If the price can consolidate in this zone, we will have confirmation that the price has returned to the boundaries of the upward trend. Best regards, R. Linda!
FX:XAUUSD
by RLinda
17
USDCHF → The resistance retest ended with a false breakoutFX:USDCHF tested resistance at 0.805 - 0.806 and formed a false breakout without the possibility of continuing growth. The global trend is downward... Against the backdrop of the dollar's growth (reaction to news), the currency pair also moved to distribution to 0.8050. The price failed to break through resistance, forming a false breakout. USDCHF is consolidating below resistance, and a breakdown of the local structure could trigger a decline. The dollar index is also facing fairly strong resistance and may continue its downward trend, which will also affect the decline in the USDCHF price. Resistance levels: 0.805, 0.806, 0.81 Support levels: 0.800, 0.794, 0.791 If, within the current consolidation, the price begins to fall and break the local structure, then we can expect the decline to continue towards the specified targets! Best regards, R. Linda!
Short
by RLinda
4
GOLD → Formation of a trading range. 3345?FX:XAUUSD confirms support for the local range. A false breakdown has formed and the price has returned to the buying zone. We are waiting for the bulls to take the initiative... Gold is trying to recover after falling to $3302, remaining under pressure ahead of key events in the US: the publication of GDP data and the Fed's decision on interest rates. Support is provided by a pause in the dollar's growth, expectations of an extension of the US-China trade truce, and growing demand for safe-haven assets amid a surge in oil prices due to the threat of new sanctions against Russia. However, the sustainability of growth is in question: the dollar may strengthen thanks to optimism about the US economy and progress in negotiations. A false breakdown of the support range is forming. Focus on 3310-3320. If the bulls keep the price above this zone, gold will have a chance to grow. BUT! If the price starts to contract and stick to 3310, we can expect the decline to continue... Resistance levels: 3345, 3375 Support levels: 3320, 3310, 3287 The two-day movement has most likely exhausted its potential, or the market has decided to recover slightly due to the unpredictability factor. A false breakdown of support could trigger a pullback to the strong level of 3345, from which a rebound could form (either before growth or before the continuation of the decline; it is necessary to monitor the reaction and the market background...). Best regards, R. Linda!
FX:XAUUSDLong
by RLinda
22
BITCOIN → Hunting for liquidity. Retest resistance before a fallBINANCE:BTCUSDT.P continues to consolidate after a strong rally. There is no strong driver yet, and Bitcoin is reacting weakly to economic data. There is a possibility of a continued correction... Bitcoin is still in correction, but is rebounding from the local low of 117.4, formed during the pullback, and is heading back up towards the zone of interest at 119.8-120.1, which it did not reach during the main upward movement. I see no fundamental or technical reasons for the correction to end and for growth beyond 121K. I expect a rebound from the resistance zone towards 115-114K. However, in the medium term, I expect the market to attempt to close half or all of the gap between 112K and 114.8K, thereby expanding the key trading range. Resistance levels: 119.77, 120.1K, 120.8K Support levels: 117.4, 116.37, 115.68 Technically, a false breakout (liquidity capture) of key resistance and price consolidation in the selling zone could trigger bearish pressure on the market, which in turn would lead to a correction. Best regards, R. Linda!
Short
by RLinda
6
GOLD → Retest of trend support. Consolidation...GOLD is consolidating below the previously broken trend support. On Sunday, Trump announced a trade deal with the EU, which is putting pressure on the market along with the rising dollar... Gold rebounded from support at $3310 after a week-long low, interrupting a three-day decline amid profit-taking. However, the overall downtrend remains intact as markets brace for a busy week with the release of US GDP data and the Fed's decision. Optimism surrounding US-China trade talks and the US-EU framework agreement is reducing demand for safe-haven assets. Additional pressure on gold is coming from easing geopolitical tensions: Thailand and Cambodia have agreed to ceasefire talks. The metal's recovery may be short-lived. Technically, we have global and local bullish trends, against which gold is testing support, but as we can see, buyers are trying to hold back the decline due to uncertainty over interest rates. There is a chance that we will see active action by the Fed, behind which lies a rate cut, this week... Resistance levels: 3345, 3375 Support levels: 3320, 3287 At the moment, I do not see a proper reaction to the support breakout. The price is consolidating after confirming the key trigger at 3345. Thus, if the price starts to return to 3345, test and consolidate above the level, we will have a chance for growth. I do not rule out a liquidity grab from 3325 (false breakout) before the rise. BUT! The structure will be broken if the price breaks 3325 - 3320 and begins to consolidate below this zone. In this case, gold may fall to 3287 Best regards, R. Linda!
FX:XAUUSDLong
by RLinda
10
EURJPY → Retest support before growthFX:EURJPY has been correcting since the opening of the European session. The movement was triggered by yesterday's news related to the trade deal between the US and Europe... EURJPY is reacting to news related to the deal between the US and Europe. A correction is forming amid the fall of the euro, but against the backdrop of the dollar's growth, the currency pair has a chance to rise if the bulls keep the price in the buying zone relative to the support level of 173.08. The dollar is rising, and against this backdrop, the Japanese yen is falling. Bulls have every chance of holding their ground above the previously broken resistance. If the market confirms support, we will have chances for growth. Resistance levels: 173.87 Support levels: 173.082, 172.47 The currency pair may form a liquidity trap relative to the previously broken consolidation resistance. A false breakdown of support and price consolidation in the buying zone (above 173.1) could trigger further growth. Best regards, R. Linda!
Long
by RLinda
8
GOLD → Countertrend correction, retest of 3345 before growthFX:XAUUSD , undergoing a deep correction after a false breakout of local resistance at 3433, has reached the support of the upward trend. Will the bulls be able to maintain the trend? Gold held below $3,400 on Friday, rebounding from $3,350, and is poised to end the week higher. Investors are watching the conflict between Thailand and Cambodia, which is boosting demand for safe-haven assets, and are also awaiting decisions from the Fed and the Bank of Japan next week. The markets received additional support from US trade deals with Asian countries and progress in negotiations with the EU, easing fears of a tariff war. As part of the correction, gold is testing trend support and the 3345-3337 zone of interest. A false breakdown, lack of downward momentum, and bulls holding prices above 3345 could trigger growth and a continuation of the main upward trend. Resistance levels: 3375, 3383 Support levels: 3345, 3337, 3330 Technically, the support level of 3345 plays a fairly important role in the market. If, during the correction, the bulls manage to hold their ground above this zone, the prospects for recovery will be high, especially against the backdrop of geopolitical problems. Best regards, R. Linda!
FX:XAUUSDLong
by RLinda
18
GBPUSD → Retest of previously broken resistance...FX:GBPUSD has entered a correction phase after breaking through the local downtrend. If the price remains in the 1.3450–1.346 zone, this will confirm the formation of a new trading range... The market is entering a correction phase due to the dollar. A countertrend retest of the support zone is forming. Earlier, the currency pair broke the local trend and is entering a flat phase. The retest of support may end with a recovery. If, within the local movement and after a false breakout of the 1.345 - 1.3467 zone, the bulls keep the price above the buying zone, then in the short and medium term, we can expect growth to continue. Support levels: 1.3467, 1.345 Resistance levels: 1.35, 1.3584 A false breakdown of support at 1.3467 will confirm a change in the local trend (correction). The market may return to the recovery phase of the global trend. Best regards, R. Linda!
Long
by RLinda
8
GOLD → Countertrend correction. Where will growth begin?FX:XAUUSD faced pressure in the 3430 zone, traders moved into profit-taking mode, triggering a correction. The price entered the sell-off zone... On Thursday, gold is trading below $3400 as traders assess progress in US-EU trade talks and await preliminary PMI data from the US and the EU. These indicators could influence expectations for Fed and ECB rates. Optimism is being bolstered by reports of trade agreements between the US and Japan and other countries. The ECB is expected to keep rates unchanged, while the probability of a Fed rate cut in September is estimated at 60%. Investors are also watching Trump's conflict with Powell amid his visit to the Fed. Technically, the daily market structure is not broken, and a correction is forming within acceptable limits. Based on the current direction, the market may test the intermediate bottom: trend support, the 3345-3320 area. Resistance levels: 3375, 3383, 3400. Support levels: 3345, 3320 A retest of resistance at 3375-3383 is possible. If the bears keep the price below this zone, the metal may continue its correction phase towards the zone of interest indicated on the chart. Local sell-offs have not yet broken the bullish daily structure. However, the absence of a downward impulse and consolidation in 3375 - 3383 with a subsequent breakout of local resistance could increase demand again, which would generally lead to premature growth to 3400 - 3435. Best regards, R. Linda!
FX:XAUUSDLong
by RLinda
15
ARTYUSDT → A breakout of resistance could trigger another rallyBYBIT:ARTYUSDT is forming a cascading bottom as part of consolidation before a possible breakout of resistance. The decline in Bitcoin's market dominance gives altcoins a chance. ( (Idea from September 29, 2024!) We previously discussed this coin before its 300% rally. The root causes of its emergence from accumulation and readiness for strong growth were correctly identified). The dump phase is coming to an end, a cascading market bottom is beginning to form, and a pre-breakout base relative to the triangle resistance is forming, which overall hints at a bullish behavior pattern. Bitcoin is currently consolidating after the rally, and the Bitcoin dominance index is declining, which generally indicates a flow of funds into altcoins. The situation is such that the altcoin market has another chance for the season. The correction across the entire market may end in the near future, and under favorable conditions (the fundamental background is strengthening, Trump has announced another important event for cryptocurrencies), the market may return to strong movements... The focus in ARTY is on the intermediate resistance at 0.1770 and the consolidation resistance at 0.2368. Consolidation above this range could trigger a rally. Resistance levels: 0.2368 Support levels: 0.1235 Technically, a few days ago, the coin tested the consolidation resistance, but the decline did not continue, which generally indicates that buyers are showing interest and holding the market. Consolidation in the near term may end with a retest of 0.1770, 0.2368, a breakout, and further growth. Best regards, R. Linda!
Long
by RLinda
3