SPX Is Bearish! Short!
Take a look at our analysis for SPX.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 5,722.39.
The above observations make me that the market will inevitably achieve 5,432.48 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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Forecast
BITCOIN Is Very Bullish! Buy!
Please, check our technical outlook for BITCOIN.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 63,659.
Taking into consideration the structure & trend analysis, I believe that the market will reach 72,229 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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EURUSD Is Going Down! Sell!
Here is our detailed technical review for EURUSD.
Time Frame: 3h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 1.115.
Considering the today's price action, probabilities will be high to see a movement to 1.110.
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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NZDJPY Will Move Lower! Sell!
Please, check our technical outlook for NZDJPY.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 90.996.
Taking into consideration the structure & trend analysis, I believe that the market will reach 90.447 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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USOIL SENDS CLEAR BULLISH SIGNALS|LONG
Hello, Friends!
Bullish trend on USOIL, defined by the green colour of the last week candle combined with the fact the pair is oversold based on the BB lower band proximity, makes me expect a bullish rebound from the support line below and a retest of the local target above at 71.55.
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EUR/CHF BEARS ARE GAINING STRENGTH|SHORT
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EUR-CHF uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 0.939 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 EUR/CHF pair.
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EUR/AUD BUYERS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
EUR/AUD pair is in the downtrend because previous week’s candle is red, while the price is obviously falling on the 1D timeframe. And after the retest of the support line below I believe we will see a move up towards the target above at 1.659 because the pair oversold due to its proximity to the lower BB band and a bullish correction is likely.
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EUR/JPY BEARISH BIAS RIGHT NOW| SHORT
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EUR/JPY pair is trading in a local uptrend which we know by looking at the previous 1W candle which is green. On the 1H timeframe the pair is going up too. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 160.449 area.
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USD/CHF BULLS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
Bullish trend on USD/CHF, defined by the green colour of the last week candle combined with the fact the pair is oversold based on the BB lower band proximity, makes me expect a bullish rebound from the support line below and a retest of the local target above at 0.846.
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USDCHF: Expecting Bearish Movement! Here is Why:
Remember that we can not, and should not impose our will on the market but rather listen to its whims and make profit by following it. And thus shall be done today on the USDCHF pair which is likely to be pushed down by the bears so we will sell!
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DXY Will Go Lower From Resistance! Sell!
Please, check our technical outlook for DXY.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 100.056.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 99.322 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 Lower! Short!
Here is our detailed technical review for GOLD.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 2,655.654.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 2,605.078 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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EURCAD Will Go Up! Long!
Take a look at our analysis for EURCAD.
Time Frame: 3h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 1.502.
The above observations make me that the market will inevitably achieve 1.506 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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CADJPY Is Very Bearish! Short!
Here is our detailed technical review for CADJPY.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 106.050.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 105.642 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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GOLD BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
We are going short on the GOLD with the target of 2,612.943 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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EUR/CAD BULLS ARE STRONG HERE|LONG
Hello, Friends!
EUR/CAD is making a bearish pullback on the 10H TF and is nearing the support line below while we are generally bullish biased on the pair due to our previous 1W candle analysis, thus making a trend-following long a good option for us with the target being the 1.516 level.
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EUR/GBP LONG FROM SUPPORT
Hello, Friends!
The BB lower band is nearby so EUR-GBP 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 0.848.
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Fundamental Analysis of BTCUSDFundamental Analysis of BTCUSD: Key Considerations
Fundamental analysis for BTCUSD (Bitcoin to US Dollar) focuses on the underlying factors that influence its price, rather than solely relying on technical indicators or historical price data. While Bitcoin doesn't generate cash flows like traditional stocks, its value is primarily driven by supply and demand dynamics, as well as broader market sentiment and macroeconomic factors.
Here are some key factors to consider when conducting a fundamental analysis of BTCUSD:
1. Supply and Demand Dynamics:
Scarcity: Bitcoin has a finite supply of 21 million coins. As more coins are mined, the rate of new coins entering circulation slows down, potentially increasing scarcity and driving up prices.
Adoption and Usage: Increased adoption of Bitcoin as a payment method, store of value, or investment vehicle can lead to higher demand and, consequently, higher prices.
Institutional Investment: The growing interest from institutional investors, such as hedge funds, pension funds, and corporations, can significantly impact Bitcoin's price.
2. Macroeconomic Factors:
Inflation: If inflation rates rise, investors may seek alternative assets like Bitcoin to hedge against the devaluation of fiat currencies.
Interest Rates: Lower interest rates can make Bitcoin more attractive as an investment compared to traditional assets with lower yields.
Economic Uncertainty: During times of economic uncertainty, investors may turn to Bitcoin as a safe-haven asset.
3. Technological Developments:
Network Upgrades: Improvements to the Bitcoin network, such as scaling solutions or security enhancements, can positively impact its value.
Competition: The emergence of competing cryptocurrencies can affect Bitcoin's market share and price.
4. Regulatory Environment:
Government Policies: Favorable government regulations can foster growth and adoption, while restrictive policies can hinder it.
Legal Status: The legal status of Bitcoin in different jurisdictions can influence investor sentiment and market dynamics.
5. Market Sentiment:
Media Coverage: Positive or negative media coverage can impact investor sentiment and, in turn, Bitcoin's price.
Social Media: Trends on social media platforms can reflect public opinion and influence market movements.
Additional Factors to Consider:
Mining Difficulty: The difficulty of mining Bitcoin can affect its supply and price.
Halving Events: The halving of Bitcoin's block rewards every four years can impact its supply and price dynamics.
Market Manipulation: Be aware of potential market manipulation or pump-and-dump schemes that can influence Bitcoin's price.
By carefully analyzing these factors, investors can gain a better understanding of the underlying drivers of BTCUSD's price and make informed investment decisions.
Would you like to delve deeper into any of these factors or discuss specific indicators that might be relevant to your analysis?
US500 Is Bullish! Buy!
Here is our detailed technical review for US500.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 5,730.5.
Considering the today's price action, probabilities will be high to see a movement to 5,946.0.
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.
Like and subscribe and comment my ideas if you enjoy them!
SILVER Is Going Down! Short!
Take a look at our analysis for SILVER.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 30.843.
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 30.078 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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