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CFD Update: GER30 set for a breakout?Today's focus GER30 Pattern – Range – diagonal consolidation pattern Possible targets – Upside, 15,985 – 16,160; Downside, 15,718 – 15,530 Support – 15,740 Resistance – 15,965 Hi, and thanks for looking at today's update. Our focus is on the GER30 as price sits in a range but has also formed a wedge/diagonal pattern that could signify movement to come. It's an interesting set-up as even if we see a break of the pattern price still has the range to contend with. US futures are lower, and we are seeing the GER30 lower at this stage, so could we see a move lower today? If so, sellers will need to break support to get a breakout really going. On the other hand, buyers will need to do the same to resistance to get their move going. US Retail Sales could play a part. It’s due today at 10:30 pm AEST (8:30 am EST) Thanks for stopping by. Good trading, and have a great day.
G
by Eightcap
QQQ Bear SetupNice setup here with great r/r. As you can see there is a good chance that we just completed an ending diagonal which is a pattern that breaks sharply to the downside. We also have triple bear divergence on the RSI confirming weakness and the ending diagonal pattern, The harmonic pattern is not something I typically make trade decisions based off of however it does add more context and support for the setup overall. Let me know what your thoughts are. Give me a like if you found this information to be beneficial to your trading plan. Thank you!
NASDAQ:QQQShort
by wstchse
6
CFD Update: FRA40 pushing at a new leg higher?Today's focus FRA40 CAC Pattern – Support hold - continuation - HL Possible targets – 7465 - 7600 Support – 7315 - 7360 Resistance – 7460 (ST) Indicator support – CCi close to 0 cross – 38.2 fib area Could we see a new leg higher on the FRA40? After Monday's holiday, price has opened lower on Tuesday, but there are a few bullish signs we are watching that could suggest a new push higher. Price formed an HL in the 38.2 fib area, support has been formed, and we see the support hold from a previous point of resistance. Price broke through the trendline, but we still need to see a new rally to confirm that. A new lower that closes below support is worry and could invalidate the idea. Another factor is tomorrow's US CPI data. Depending on what’s released, this could impact US indices and, in turn, move European indices. The Core is expected to come in lower, with Y/Y flat at 5.0% and the M/M higher at 0.4%. The CPI data is due to be released at 8:30 am EST tomorrow. Thanks for stopping by. Good trading, and have a great day.
EIGHTCAP:FRA40Long
by Eightcap
MarketBreakdown | EURUSD, USDJPY, Dollar Index, USDCHF Here are the updates & outlook for multiple instruments in my watchlist. 1️⃣ EURUSD daily time frame 🇪🇺🇺🇸 The pair broke and closed below an important rising trend line, it makes me think that the market may go lower before the FOMC. 2️⃣ USDJPY daily time frame 🇺🇸🇯🇵 The market reached a key horizontal structure resistance. Taking into consideration the fact that the market is quite overbought, we might see a pullback from that structure. Alternatively, its bullish breakout may initiate a strong bullish wave. 3️⃣ Dollar Index (DXY) daily time frame 💲 The Index formed a cup and handle pattern and currently testing the neckline. A bullish breakout of that and a daily candle close above will confirm a bullish reversal. 4️⃣ USDCHF daily time frame 🇺🇸🇨🇭 The pair broke a solid falling trend line and heading towards a key horizontal resistance, forming a huge double bottom on a daily. A bullish breakout of its neckline will initiate a bullish reversal. Do you agree with my market breakdown? ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
7