Gold is Ready to Pump, Ready!?Gold ( OANDA:XAUUSD ) is currently moving in the Resistance zone($2,667-$2,653) and has managed to break the upper line of the Descending Channel .
In terms of Elliott wave theory , Gold completed the Double Three Correction waves as I expected , and I am also waiting for the Resistance zone($2,667-$2,653) to break with the break of the upper line of the descending channel .
I expect Gold to rise to at least $2,679 after breaking the Resistance zone($2,667-$2,653), and the next target is the width of the descending channel (broken).
⚠️Note: If Gold goes below $2,636, we can expect a further decrease in Gold.⚠️
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Gold Analyze ( XAUUSD ), 1-hour time frame ⏰.
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Descending Channel
GBPUSD → Channel breakout. Attempt to change the trendFX:GBPUSD finds an opportunity to grow. A breakout of the local trend resistance is forming amid the dollar correction. Zones of interest: 1.300
The retest of the intermediate bottom ends with reversal candlestick patterns and market reversal structure. The big question is: How long will it last? It all depends on the dollar. The US market received negative jobless claims data yesterday, which may also affect the NFP, which will be released later today. A worse-than-expected data will intensify the dollar correction, pointing to the problems in the economy (against what Powell said recently). In such a scenario, forex currencies may get a chance for a small rally.
Technically, a channel breakout is a good signal that could turn into a strong momentum, but apparently traders are not in a hurry yet....
Resistance levels: 1.284, 1.300
Support levels: 1.272, 1.261, 1.2488
Accordingly, if a false breakout of resistance is formed and the price falls beyond 1.272, then we should expect a decline to 1.24. But at the moment there are positive signs to gain from 1.275 to 1.300 in the medium term.
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPUSD ;)
Regards R. Linda!
Descending channel from the 1 month chart timeframeI just posted a version of this channel on the 3 month chart timeframe, however looking at the month time frame I also found some bullish confluence to confirm this potential channel. A deeper correction now that we have retested the top trendline of this potential channel would not surprise me from here. I arbitrarily put the measured move lines for when we could break up from this channel around May 2024, simply because the halvening occurs in mid to late april so it seemed like a reasonable area to expect us to finally overcome this channel. We’re we to break up from the channel in that exact spot, the measured move for the channel breakout on its own looks like it would take us to 80k. If it was more than just a channel and also a valid bull flag the measured move I get for the bul flag appears to be slightly under 100k. On the 3 month chart the bull flag was slightly over 100k but that may also be because I placed the measured move line arbitrarily earlier than may as I have done for this 1 month chart representation. Will be interesting to see how this plays out. The silver lining here is that if this channel is valid and price is about to flip back to the down trend for a few it is simply another opportunity to accumulate for the upcoming liftoff which is likely to occur post halvening. *not financial advice*
EURUSD → Consolidating before the news.... FX:EURUSD is in a current downtrend, but there is news ahead and traders are waiting for hints about the US monetary policy. The currency pair has not yet reached the local target...
On D1, the struggle for space continues after the false breakdown of support. Also, the market is still yet to test 1.061 - 1.065 - the key liquidity zone.
Ahead of ADP Nonfarm, PMI and Powell's speech, where, according to analysts, the issue of rates, US monetary policy may come up. Any hints of an aggressive rate cut could reinforce buying in the Euro and selling in the Dollar. However, we can't know this ahead of time, so the market may remain in consolidation until the news.
Resistance levels: 1.0606, 1.0654, 1.076.
Support levels: 1.0448, 1.033
Technically, the currency pair can form an upward momentum to key resistance areas, from which the decline can resume. But, if the price breaks the support and consolidates below 1.044, the decline may start earlier.
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;)
Regards R. Linda!
GBPUSD → Counter-trend correction before further declineFX:GBPUSD within the correction reaches a zone of interest and resistance from which the decline may resume as the dollar returns to a northbound rut ...
Traders continue to fight for the 1.267 area, an area that is a strong enough support. Buyers don't have much of a chance as the dollar looks quite strong on the back of Trump's policies and is putting quite a lot of pressure on the forex market.
Technically, the downtrend is the priority and we will be pulling back from it. Key zones: 0.5 Fibo and the boundary of the downtrend. False breakout may provoke further decline.
Resistance levels: 1.275, 1.284
Support levels: 1.267, 1.264
False breakout of resistance will indicate the bears' domning and may provoke further selling. It is also worth emphasizing 1.267-1.264. A breakdown and consolidation of the price below this zone will also confirm the bears' intention
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPUSD ;)
Regards R. Linda!
TON → One step away from a rally. Trying to change the trendBINANCE:TONUSDT is coming out of a prolonged consolidation, but only one action separates us from the distribution phase. The bitcoin rally is favorable for many altcoins....
In my opinion, TON is a rather undervalued project that has a fundamentally significant base (many altcoins cannot boast of this).
Technically, the consolidation lasted for almost 9 months and, consequently, this energy should be used somewhere. The exit of the price from the accumulation begins to show us in which direction the distribution is likely to go.
The focus is on 5.420 and 5.150. If the bulls hold their defenses above this zone, the coin could show a flight to the moon in the long run. But don't look at cryptocurrencies with rose-colored glasses, assess the situation relative to the risks!
Resistance levels: 5.420, 6.133
Support levels: 5.151, 4.51
The price is breaking the resistance of the bullish pattern (descending wedge or descending triangle), we have to wait for confirmation that the trend change will be true. The fight for 5.420 continues. Let's keep an eye on this zone ;)
Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:TONUSDT ;)
Regards R. Linda!
NZDUSD → False breakdown of a double bottom. But...FX:NZDUSD is forming a local reversal pattern on the background of the dollar correction. It is too early to talk about a change of trend, but we can get a correction with the purpose of retesting the liquidity zone
On the daily timeframe earlier a false breakdown of the double bottom was made, the price was not let down and in a few days began to buy out on the background of news on inflation from the USA. Traders took the decline in inflation relatively positively and moved to profit-taking in the dollar, which gives the forex market a chance.
For now, the focus is on the 0.59-0.5912 zone. If the bulls can keep their defenses above this zone, we may get a rise to 0.597 (towards the descending channel resistance) in the long run
Resistance levels: 0.5912, 0.5972
Support levels: 0.588, 0.58166
But, we should not deny the downtrend. From any resistance the price can continue downward movement, as there are no preconditions that the market is ready to change the trend.
Regards R. Linda!
EURUSD → Correction after false breakdown before further fallFX:EURUSD is taking a chance amid the local correction of the dollar. The currency pair can test the local highs. But! You need to be careful as there will be a lot of news today.
Fundamental background is generally negative. (Trump's victory, tariffs for European export goods, lower interest rates and so on).
This all accompanies the global and local downtrends. Accordingly, in our case, since a false support breakout is forming on the chart, we should wait for a retest of resistance and reversal patterns to further consider selling attempts with the purpose of further decline.
Resistance levels: 1.0606, 1.065, 1.076
Support levels: 1.0517, 1.044, 1.033
Accordingly, we follow the nearest resistance, if bears behave aggressively on the background of the news, the price will continue to fall from these areas
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;)
Regards R. Linda!
PEPEUSDT → DUMP Phase. Manipulation before growth? BINANCE:PEPEUSDT after "PUMP" goes into a plum phase or “DUMP”. Key support is under attack for a long time and may not hold up
For the last week and a half, the coin does not react in any way to the bitcoin growth and is in the consolidation phase, but if you look closely, the consolidation has the character of a descending triangle, which indicates the growing pressure from the sellers.
If the support at 0.00001880 does not hold, the coin may form a strong impulse.
Targets in this case could be 0.0000149 or 0.00001388.
Resistance levels: 0.0000195
Support levels: 0.0000188-0.000018
Emphasis on key support and resistance. I do not exclude that a retest of resistance is possible, but the overall picture at the moment suggests that there may be a breakout of the base, reaching liquidity zones before further growth
Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:PEPEUSDT ;)
Regards R. Linda!
SANDUSD heading towards the double bottom neckline/channel toptl It appears the gaming/metaverse cryptos have been awakened as they all appear to be getting a nice pump today while the rest of the market appears to be consolidating. Sand has a channel (in dark bluish purple) and a double bottom currently in play. The breakout targets for both are roughly in the same price zone. *not financial advice*
BTCUSDT Strong Bullish Channel!BTCUSDT (Day Chart) technical analysis update
BTC price is breaking the channel resistance on the daily chart after 220 days of formation. The price is trading above both the 100 and 200 EMA, indicating a potential bullish move in the coming days. My next target is $100K. This is a perfect positional trade with a risk-reward ratio of 1:5."
Buy level: Below $66,000
Support: $58,500
Regards
Hexa
Nifty Outlook: Last Week of NovemberNifty is currently trading at 23,900.
It will come 500 points below to 23,400.
This level coincides with multiple things - previous support & 0.786 fib level of the last run.
Then it will reverse and go up till 24,700.
That is where it will take the liquidity of the previous swing highs.
EURUSD → Consolidation “flag”. Willingness to go below...FX:EURUSD is forming a consolidation in the “flag” format, the purpose of which, in the current situation, is to accumulate the potential for continuation of the trend... Fundamental background is still negative.
On D1 we can clearly see the consolidation below the key level of 1.0600 after a strong fall. There is no proper and logical reaction in the form of a pullback. Accordingly, based on this we can conclude that the dynamics and strength of the buyer is not enough to reverse the local situation.
The dollar is starting the recovery phase again, which may put pressure on the euro.
Technically, the emphasis on consolidation “flag”. The exit of the price from the boundaries of this channel will provoke further movement.
Resistance levels: 1.0606
Support levels: 1.0521, 1.044
It is not worth trading inside the flag. The exception is a retest of resistance. Opening an order is acceptable after a false breakout.
But, the emphasis is on 1.052. Breakout and fixing of the price below this zone can strengthen the fall
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;)
Regards R. Linda!
GOLD → Are the bears in doubt? Resistance aheadFX:XAUUSD strengthens to 2625, jeopardizing the local downtrend. Fundamentally, the situation is complicated, as well as technically...
The metal price is actively influenced by the escalated geopolitical situation between Russia and Ukraine. The market is also watching the Middle East, as despite the reduced news flow, the situation is still tense. In addition, expectations of additional stimulus measures from China also favor the growth of prices for this metal. It is still unclear whether gold will be able to hold on to the bullish momentum as the price is approaching strong resistance and traders are cautious as they await new signals on the Fed's interest rate outlook.
Technically, as the price is still within the boundaries of the local descending channel, it is worth considering selling from strong zones and levels. The situation will change when the price breaks (it is not a fact) the channel resistance...
Resistance levels: 2626, 2643
Support levels: 2604, 2590
Most likely, the market seeks to test the resistance, relative to which a stalemate situation is forming due to the mixed fundamental background.
A false break of 2643-2626 will strengthen the selling and bring us back to the downside. But an unexpected resistance breakout will bring back the buyers' motivation
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;)
Regards R. Linda!
GBPNZD bearish expectations
GBPNZD price is make two strong bullish pushes from 4.Oct. currently DESCENDING CHANNEL visible, price is make bearish bounce on strong zone 2.16600.
Expecting this point now is exhaustion and expectations are to see higher bearish continuation from here
SUP zone: 2.17000
RES zone: 2.14700, 2.14100
NZDUSD → Consolidation before the continuation of the fallFX:NZDUSD amid bearish rally is not going to pull back, forming consolidation in front of 0.5894 with the purpose of continuing the fall...
Last week the price tested the key support at 0.585, closing below the level, hinting that the market is ready to go further.
The strong rise in the dollar is extremely negative for the forex market. The excitement has not subsided yet and most likely the current movements may get a continuation.
Since we have a downtrend, we should prioritize selling from strong resistance zones or supports. Focus on the key range.
Resistance levels: 0.5864, 0.588, 0.5912
Support levels: 0.584
Accordingly, I do not exclude the fact that the market may test the resistance in the format of a false breakdown and further fall. But, since we are close to the support now and the price is forming a pre-breakdown accumulation, we should consider a breakdown of the support in the first place
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:NZDUSD ;)
Regards R. Linda!
Alikze »» EDU | Descending channel🔍 Technical analysis: Descending channel
- It is moving in a descending channel in the 8H time frame.
- At the bottom of the channel, a strong buying pressure candle has been encountered.
- Currently, we have to wait for the failure of the supply zone to exit the downward channel.
- If the supply zone breaks, it can have the targets of 0.9769 and 1.1719.
💎 Alternative scenario: In addition, if it encounters selling in the middle of the channel and below the supply range, it can retest the bottom of the channel. The first target of the downtrend will be the 0.39 range.
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GBPUSD → The fall after the breakdown will intensifyFX:GBPUSD continues to fall downwards. The price is testing the strong support at 1.267 and forms a false breakdown. The dollar is losing ground a bit in the meantime....
Theoretically, the currency pair after the false breakdown can form a correction (a trap or a crowd trick) before a further fall. Zones of interest in our case could be 1.272, 1.277, 1.28.
Fundamentally, the situation is not the best, the pressure on the pound, on the background of the dollar rally, is present more than enough, accordingly, in the medium term we should expect a continuation of the fall. The trigger for this could be a false breakdown of resistance or a breakdown of 1.267 and consolidation below this zone.
Support levels: 1.267, 1.261, 1,25
Resistance levels: 1.272, 1.277
We need to watch the price reaction to these key levels. If bears hold 1.267 and consolidate their positions below this zone, the fall will happen sooner.
Regards R. Linda!
XLMUSD breaking up from double bottom/channel/invh&sThe target for the double bottom/channel is .1439 and the inv h&s target is slightly lower than that. I call this a Siamese inverse head and shoulders because it sort of has 2 heads in between the shoulders. Golden cross appears to be just.a few candles away . *not financial advice*