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#CHFJPY 1HThe CHFJPY (1-Hour) chart is forming a Rising Wedge* pattern, which is typically a bearish signal. This pattern occurs when the price is moving higher, but the range between the highs and lows is narrowing, indicating a potential loss of bullish momentum. Key Observations: - The price has been trending upward but is now constrained within a converging wedge pattern, with higher highs and higher lows forming a rising wedge. - This pattern often leads to a bearish reversal as buyers lose strength and sellers take control, especially when the price breaks below the lower trendline of the wedge. - Volume may also be decreasing, which is a common characteristic of a rising wedge and could confirm the weakening uptrend. Forecast: A sell is anticipated once the price breaks below the lower boundary of the wedge. This would signal the beginning of a bearish move, with the potential for a strong downward correction or reversal. Key Levels: - Resistance: The upper boundary of the wedge where the price has been repeatedly rejected. - Support: The lower boundary of the wedge, which if broken, would confirm the sell setup. Risk Management: Place stop losses above the recent highs to protect against false breakouts or a continued move higher. Profit targets can be set near previous support levels or significant pivot points, as the pair could experience a sharp decline after the wedge breakout.
Short
by PIPSFIGHTER
2
#GBPJPY 1DAYThe GBPJPY (1-Day) chart is displaying an uptrend channel resistance pattern. This occurs when the price is moving within an upward-sloping channel and is currently approaching the resistance level, which has been established by previous highs in the trend. Key Observations: - The price has been consistently making higher highs and higher lows, following a well-defined ascending channel. - The pair is now near the upper boundary (resistance) of the channel, where sellers typically step in. - Multiple rejections from this resistance in the past suggest that the market may respect this level again, providing a potential sell opportunity. Forecast: A sell is anticipated as the price nears the channel resistance, with the expectation that it will reverse or correct lower within the channel. Traders should look for bearish confirmation, such as a reversal candlestick pattern or a break below key moving averages, to confirm the entry. Key Levels: - Resistance: The upper boundary of the channel. - Support: The lower boundary of the channel where price might target during a correction. Risk Management: Place stops above the resistance zone to protect against potential breakouts. Targets can be set near the mid or lower channel boundary.
Short
by PIPSFIGHTER
Gold today analysis confirm buy target read the caption This disappointment was followed by China’s consumer and factory-gate price inflation data on Sunday, which showed the extension of the disinflation trend in the world’s biggest consumer, sapping investors’ confidence. Additionally, intensifying geopolitical tensions between Israel and Iran and also between China and Taiwan remain a cause for concern for investors, and hence, they scurry for safety in the USD at the expense of the Gold pri
OANDA:XAUUSDLong
by Mrsam36
#EUR/USD 1DAYEUR/USD DAILY On the daily chart of EUR/USD, we observe a bearish pattern forming, suggesting potential downward momentum in the near term. The price has been consistently testing a key support level around 1.10400 (specific level based on the chart), where buyers are struggling to maintain control. This support zone may break under strong selling pressure, leading to a continuation of the downtrend. Key indicators such as moving averages or oscillators might also signal weakening momentum, providing further confirmation of a **sell** forecast. Traders are advised to watch for a decisive break below the support level, as this would signal an opportunity to enter short positions, Forecast: Sell Key support** level: 1.10400 Potential downside targets**: 1.0900, 1.0800 & 1.0700
Short
by PIPSFIGHTER
#US30 1DAYUS30 1D Analysis On the daily chart, US30 is forming a rising wedge pattern, which is generally considered a bearish signal. The pattern suggests that while the index is moving higher, the momentum is slowing, and a potential reversal could be on the horizon. Forecast: -Sell: A rising wedge often leads to a bearish breakout. If US30 breaks below the lower trendline of the wedge, it would confirm a potential reversal. In this case, selling would be the favorable strategy, as a downward move is expected following the breakdown. Keep an eye on volume and other technical indicators to confirm the breakout.
OANDA:US30USDShort
by PIPSFIGHTER
#NAS100 1DAYNAS100 1D Analysis: On the daily chart, NAS100 is displaying a rising wedge pattern, a bearish formation that suggests the current upward trend may be nearing exhaustion. Additionally, the price action has entered a **bearish engulfing** area, indicating strong selling pressure. Forecast: -Sell: With both the rising wedge and the bearish engulfing pattern in play, a sell is anticipated. A breakdown below the wedge’s lower trendline would confirm the bearish signal, likely leading to further downward movement.
FX:NAS100Short
by PIPSFIGHTER
2
#USOIL 4HUSOIL 4H Analysis: Currently, USOIL is forming a rising wedge pattern on the 4-hour chart. This is a bearish reversal pattern, typically indicating that the bullish momentum is weakening. Forecast: -Buy: You can consider buying as long as the price remains within the wedge pattern, riding the upward movement. -Sell: However, if the price breaks down from the lower trendline of the wedge, this would confirm a bearish breakout. A sell position should be considered after this breakdown, as a significant downside move could follow.
FX:USOILLong
by PIPSFIGHTER
#ADAUSD 1DAYADAUSD (Cardano vs US Dollar) Timeframe: 1 Day (Daily Chart) Pattern: Uptrend Channel Description: The ADAUSD pair is currently exhibiting a well-established **uptrend channel** on the daily chart. This pattern is defined by a series of higher highs and higher lows, with the price consistently moving within two parallel ascending trendlines. The lower trendline serves as dynamic support, while the upper trendline acts as resistance. The price action within this channel indicates that buyers are in control, with bullish momentum driving prices higher over time. Forecast: The recommendation is to take a **buy** position, as the price is expected to continue moving upward within the channel. The trend shows strong bullish signals, and unless there is a break below the lower support line, the uptrend should persist. If the price approaches the upper resistance line, it may face some temporary consolidation or correction before continuing higher. Entry Point: A buy entry is suggested near the lower support of the channel for optimal risk-reward. Stop-Loss: Place a stop-loss slightly below the lower support line of the channel to mitigate risks in case of a downward breakout. Take-Profit: The take-profit target should be set near the upper resistance line of the channel, or you may trail your stop-loss to lock in profits as the price advances. A breakout above the resistance line could signal further upside potential.
BINANCE:ADAUSDLong
by PIPSFIGHTER
#XAGUSD 4HXAG/USD (Silver vs. US Dollar) pair on the 4-hour chart is showing a support pattern, indicating that the price is holding firm at a particular level, suggesting a potential bullish reversal. Pattern Description: The market seems to have established a solid support level, where downward momentum is being halted. After a period of selling pressure, the price has tested and bounced off this support zone multiple times, signaling that buyers are stepping in to defend this level. This consistent defense suggests that a reversal might be imminent, as the market sentiment shifts from bearish to bullish. Forecast: Given the strength of the support level, the current outlook is bullish, with a potential move to the upside. The price is likely to break higher as buying momentum gathers strength. This makes it a favorable opportunity to buy, targeting the next resistance levels. However, it's important to keep an eye on any additional price action and volume confirmation before entering the trade. Key Indicators: - Strong support - Price consolidating near support, indicating indecision before a potential breakout. - RSI and other momentum indicators suggest oversold conditions, supporting the bullish forecast. Recommendation: Consider entering a buy position near the support level, with a stop-loss placed just below the support zone to manage risk effectively. Potential price targets could be set at key resistance areas above.
OANDA:XAGUSDLong
by PIPSFIGHTER
XAU/USD : CPI is Coming, More Bullish Move ? (READ THE CAPTION)By analyzing the Gold chart on the 1-hour timeframe, we can see that after entering the desired demand zone, the price started to rise and is currently trading around $2,617. Considering that the US CPI data will be released today and I expect the actual value to be equal to or lower than the forecasted rate, I anticipate an upward movement in price to fill the liquidity void mentioned in the previous analysis. Based on the previous analysis, the key supply zones remain as follows: $2,625, $2,636.6, $2,646, and $2,655 to $2,660. I hope you make the most out of this analysis! Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! Best Regards , Arman Shaban
FOREXCOM:XAUUSDLong
by ArmanShabanTrading
27
#NZD/USD 1DAYNZD/USD 1D – Support Turned Resistance On the daily chart of the NZD/USD pair, a significant **support-turned-resistance** pattern has been identified. This is a bearish continuation signal, suggesting that the price is likely to move lower after retesting a previous support level, which is now acting as resistance. #Pattern Overview: -Support Becomes Resistance (SBR): After a breakdown below a key support level, the price has retraced to retest this level. What was once support has now turned into a resistance zone, confirming the bearish outlook. #Forecast: -Sell Signal: The forecast indicates a sell opportunity as the price is expected to reject the newly formed resistance level and resume its downward trend. This type of setup often leads to further declines in the price. ### Trading Strategy: -Entry Point: Enter a sell position when the price fails to break above the resistance level (previous support) and shows signs of rejection (e.g., bearish candlesticks or other technical confirmations). Targets: The initial target for the downside move would be the next significant support level below the current price. Look for price action lows or Fibonacci extensions for potential target areas. Stop Loss: Place a stop-loss above the resistance level to protect against any potential bullish breakout that might invalidate the bearish setup. This pattern indicates a continuation of the bearish trend in NZD/USD, with selling opportunities emerging as the previous support level now acts as a resistance barrier.
Short
by PIPSFIGHTER
#AUD/USD 1HAUD/USD 1H – Falling Wedge Pattern The AUD/USD pair on the 1-hour chart is showing a falling wedge pattern, which is a classic bullish reversal setup. This pattern indicates that the price, currently in a downtrend, may soon reverse and move higher. #Pattern Overview: -Falling Wedge: The pattern is defined by two downward-sloping, converging trendlines. The price moves within this narrowing range as selling pressure weakens over time, which often leads to a bullish breakout. #Forecast: -Buy Signal: The anticipated move is a breakout above the upper resistance trendline of the wedge. This breakout is considered a strong buy signal, suggesting the price will move upward as the bearish momentum fades. #Trading Strategy: - *Entry Point: Enter a buy position when the price decisively breaks out of the wedge and closes above the resistance line. - Targets: Initial targets for the move upward could be based on nearby resistance levels or prior price action highs. -Stop Loss: To manage risk, place a stop-loss below the most recent swing low inside the wedge, ensuring protection in case of a false breakout. This setup points to a buying opportunity upon breakout, as the AUD/USD pair is likely to climb after confirming the bullish reversal.
Long
by PIPSFIGHTER
#GBP/AUD 1HThe **GBP/AUD** 1-hour chart is displaying a **channel pattern**, where price is moving between parallel support and resistance levels. This is indicative of a market in a range-bound state, with the price respecting both the upper (resistance) and lower (support) boundaries of the channel. ### Forecast: Sell When Touching Resistance In this scenario, the forecast is to initiate a **sell position** when the price reaches the upper boundary (resistance) of the channel. The key elements to consider for this setup are: 1. **Channel Structure**: The price is consistently oscillating between a well-defined resistance and support zone. The resistance level represents a strong selling zone where price struggles to break through. 2. **Trend and Momentum**: Momentum tends to weaken when the price approaches resistance, leading to reversals back toward the support line. This offers a potential short-selling opportunity. 3. **Risk Management**: A stop-loss order should be placed just above the resistance level in case of a breakout, while profit targets can be set near the lower boundary (support). It’s essential to confirm the sell signal by observing price action near resistance and looking for reversal patterns, such as bearish candlestick formations, or divergences in momentum indicators.
Short
by PIPSFIGHTER
#GBP/JPY 4HThe GBP/JPY 4-hour chart is showing the formation of a triangle pattern, which is typically a continuation or consolidation pattern. This pattern suggests that the market is experiencing a period of indecision, as buyers and sellers battle for control. In this case, we are seeing lower highs and higher lows converging into the apex of the triangle, indicating that the price is squeezing into a tighter range. Forecast: Sell Given the overall market sentiment and technical analysis, a **bearish breakout** from this triangle pattern is anticipated. If the price breaks below the lower trendline of the triangle, it could signal a strong selling opportunity. Key factors supporting this sell forecast include: 1. Downtrend Continuation: If the previous trend was bearish, a breakout to the downside aligns with the continuation of that trend. 2. Volume: A spike in volume upon the breakout is expected to confirm the sell signal. 3. Key Support Levels: Watch for the price to test and potentially break key support levels after the breakout. It's important to set proper risk management levels, including stop-loss orders just above the upper trendline in case of a false breakout, and to monitor the market for any significant news events that may impact the currency pair.
Short
by PIPSFIGHTER
1
Gold cross 2700 slowly but surely read the caption Gold price is looking to build on the previous recovery from three-week lows of $2,604 early Friday. Broad risk aversion and a modest US Dollar (USD) downtick support Gold price heading into the US Producer Price Index (CPI) data release due later on Friday. US jobs worries outweigh hot inflation, lifting Gold price Gold price continues to cheer the unfazed odds of a 25 basis points (bps) interest rate cut by the US Federal Reserve (Fed)  in November. Markets currently price in about an 86% chance of such a move next month
OANDA:XAUUSDLong
by Mrsam36
EUR/JPY October Market Outlook: Bearish Setup with Key Sell Sign EUR/JPY October Market Structure and Trading Insights The monthly structure for EUR/JPY in October shows an open high-low-close pattern, which is indicative of a potential sell setup. However, we are currently waiting for confirmation in the form of a TDI (Traders Dynamic Index) cross, which will signal when to enter sell positions. Key Points to Note: 1. Bearish Divergence: From August 16, 2024, through the current market high, we observe a clear bearish divergence. This is often a precursor to downward movement and strengthens the case for a sell setup. 2. Daily Timeframe Open High Structure: The daily chart for October reflects an open-high structure, reinforcing the bearish outlook for the month. 3. Overbought Market Conditions: Since the bullish breakout on October 1, 2024, the price has been in an overbought zone. This suggests that a reversal is likely as the market corrects from these elevated levels. 4. Double Top ('M') Pattern: There is a visible double top pattern, also known as an 'M' pattern, on the daily chart. The second leg of this 'M' pattern looks particularly strong, further signaling a potential bearish move. 5. TDI Cross as Confirmation: A bearish TDI cross will serve as a confirmation of the presence of sellers. This signal is essential to validate the entry for sell trades. Take Profit Levels: - Take Profit 1: 161.600 - Take Profit 2: 160.500 Trading Advice: It is important to exercise patience and wait for valid confirmation signals, such as the TDI cross, before entering any trades. Always approach the market with caution, utilizing sound risk management strategies to safeguard your capital. If you found this analysis helpful, please consider liking, commenting, and following for future updates. I will gladly return the follow. Best of luck with your trades! ---
Short
by ezeepips
2
#EURJPY 1DAYOn the EUR/JPY daily chart, the price is testing a significant resistance level. This area has historically acted as a barrier, where selling pressure increases, preventing the price from moving higher. The resistance level suggests that the current uptrend may stall or reverse, creating a potential opportunity for sellers. Forecast: Sell A sell opportunity is anticipated as the price approaches the resistance zone. Traders may consider entering a short position if the price is rejected from this level, with a downside target toward previous support areas. It is essential to wait for confirmation of the price failing to break above resistance to avoid false breakouts.
Short
by PIPSFIGHTER
2
#GBPUSD 4HOn the GBP/USD 1-hour chart, the price has bounced off a key support level, indicating a potential bullish reversal. The support bounce suggests that buyers are stepping in at this level, preventing further decline and possibly initiating an upward move. Forecast: Buy A buy opportunity is expected as the price rebounds from support. Traders may consider entering a long position with the anticipation that the price will move higher, targeting nearby resistance levels. It’s important to monitor price action for confirmation that the support is holding, as a breakdown below the level could invalidate the buy setup.
Long
by PIPSFIGHTER
#GBPAUD 1HOn the GBP/AUD 1-hour chart, the price is currently testing a channel resistance level. This resistance is part of a parallel channel where the price has been moving between support and resistance lines. The channel resistance marks an area where sellers typically emerge, halting further upward movement and pushing the price lower. Forecast: Sell A sell opportunity is anticipated as the price approaches the upper boundary of the channel. Traders may consider entering a short position if the price is rejected from this resistance line, with a potential downside move towards the channel's support level. It's crucial to wait for confirmation of rejection at the resistance before executing the trade to avoid false breakouts.
Short
by PIPSFIGHTER