USDJPY Will Go Higher From Support! Long!
Take a look at our analysis for USDJPY.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 149.879.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 153.459 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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Forecast
GBPUSD Will Go Up From Support! Buy!
Please, check our technical outlook for GBPUSD.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 1.267.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 1.272 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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GOLD BUYERS WILL DOMINATE THE MARKET|LONG
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GOLD is trending up which is obvious from the green colour of the previous weekly candle. However, the price has locally plunged into the oversold territory. Which can be told from its proximity to the BB lower band. Which presents a classical trend following opportunity for a long trade from the support line below towards the supply level of 2,947.627.
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GBP/NZD BEARISH BIAS RIGHT NOW| SHORT
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GBP/NZD pair is in the uptrend because previous week’s candle is green, while the price is obviously rising on the 3H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 2.210 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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GBP/JPY BEARS ARE STRONG HERE|SHORT
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We are going short on the GBP/JPY with the target of 187.757 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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SPX500USD Will Go Higher! Long!
Here is our detailed technical review for SPX500USD.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 5,987.7.
The above observations make me that the market will inevitably achieve 6,125.2 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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GOLD Will Go Up! Buy!
Take a look at our analysis for GOLD.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 2,912.567.
Taking into consideration the structure & trend analysis, I believe that the market will reach 2,929.572 level soon.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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AUDUSD Will Move Higher! Long!
Please, check our technical outlook for AUDUSD.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 0.632.
Considering the today's price action, probabilities will be high to see a movement to 0.640.
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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GBPNZD Is Bearish! Short!
Here is our detailed technical review for GBPNZD.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 2.217.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 2.209 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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USDCHF Will Fall! Sell!
Here is our detailed technical review for USDCHF.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 0.896.
The above observations make me that the market will inevitably achieve 0.891 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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SILVER SHORT FROM RESISTANCE
Hello, Friends!
We are now examining the SILVER pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 29.766 level.
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EUR/CHF BULLS WILL DOMINATE THE MARKET|LONG
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The BB lower band is nearby so EUR-CHF is in the oversold territory. Thus, despite the downtrend on the 1W timeframe I think that we will see a bullish reaction from the support line below and a move up towards the target at around 0.944.
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USD/CHF SENDS CLEAR BULLISH SIGNALS|LONG
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Previous week’s red candle means that for us the USD/CHF pair is in the downtrend. And the current movement leg was also down but the support line will be hit soon and lower BB band proximity will signal an oversold condition so we will go for a counter-trend long trade with the target being at 0.912.
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AUD/USD BEARS ARE GAINING STRENGTH|SHORT
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AUD-USD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 0.614 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the AUD/USD pair.
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NAS100USD Is Very Bearish! Sell!
Take a look at our analysis for NAS100USD.
Time Frame: 3h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 21,289.6.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 20,988.9 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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SILVER Is Going Down! Short!
Please, check our technical outlook for SILVER.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 32.267.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 30.865 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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EURJPY Will Go Higher From Support! Buy!
Take a look at our analysis for EURJPY.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 156.763.
Taking into consideration the structure & trend analysis, I believe that the market will reach 158.582 level soon.
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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GOLD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
GOLD pair is in the uptrend because previous week’s candle is green, while the price is clearly rising on the 12H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 2,849.355 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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