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EURJPY: Selling Pressure Likely in the 162.723-163.434 ZoneHello Traders, I trust you're doing well. It’s been a while! Since March 18th, the EUR has been in a corrective pullback, and I anticipate further downside movement to complete Wave 4 of the correction. However, this afternoon, we witnessed an unexpected surge in the EUR pairs, driven by the EU’s emergency plan to shield its economy from U.S. tariffs. Despite this rally, I believe it may be short-lived. EURJPY has reached a significant resistance zone where sellers could potentially push prices lower. Another key resistance level within this zone, where I believe sellers', activities are great, is last week’s high at 163.353. A confirmed break below 162.723 would strengthen the bearish outlook, with potential downside targets at 161.914 , 161.114 , 160.750 , and 160.350 , respectively. However, a breakout above 163.444 would invalidate this bearish. Cheers and happy trading.
Short
by Samuel124
(XAU/USD) Bearish Reversal After Head & Shoulders Formation." Overview: The price action of Gold (XAU/USD) on the 2-hour timeframe indicates a potential bearish move. A Head & Shoulders pattern has formed, signaling a possible trend reversal. The market recently tested a resistance level and is now showing signs of weakness. Key Levels: 🔹 Resistance: $3,044 - $3,055 (Rejection Zone) 🔹 Sell Entry: Below $3,028 (Break of Support) 🔹 Support Level: Around $2,980 (First Key Level) 🔹 Target: $2,940 - $2,931 (Final Bearish Target) Analysis: ✅ Price has broken below the neckline of the Head & Shoulders pattern, confirming a potential sell-off. ✅ A retest of the broken support as resistance could offer a better entry for shorts. ✅ If the price holds below $3,028, further downside toward $2,940 is expected. ✅ Bullish invalidation if price breaks back above $3,044. Trade Idea: 📉 Sell below: $3,028 🎯 Target: $2,940 🛑 Stop Loss: Above $3,044 This setup aligns with technical analysis principles, with risk-to-reward favoring sellers. Monitor price action for confirmation before entering a trade. 🚀 What’s your view on Gold? Comment below!
OANDA:XAUUSDShort
by PIPsOptimizer
Bitcoin (BTC/USD) – Bullish Breakout in Progress📈 Chart Pattern: Bitcoin has been trading inside a descending channel for several weeks. Recently, BTC has broken out of the channel’s upper boundary, indicating a potential shift in momentum. 🔹 Key Levels: Support: $80,043.75 (Critical stop-loss level) Resistance: $87,500 (Short-term) Target: $92,944.17 (Upside projection) 📊 Trading Plan: BTC might retest the breakout zone before continuing the upward move. A confirmed higher low formation could signal strong bullish momentum. If BTC remains above $85,500, further upside toward $92,944.17 is possible. ⚠️ Risk Management: If BTC drops below $80,043.75, the bullish setup could become invalid. Traders should wait for confirmation before entering long positions. 💡 Conclusion: This breakout could lead to a strong uptrend, but traders should watch for a successful retest before making a move. 🚀🔍
BINANCE:BTCUSDLong
by PIPsOptimizer
CHF/USD 4H Analysis - Potential Bearish Reversal Setup 🔹 Market Structure & Price Action: The price has been trending upwards inside a rising channel, forming higher highs and higher lows. Recently, price tapped into a key resistance zone (black box), indicating a potential reversal. A possible bearish correction could unfold from this level. 📉 Bearish Scenario: If the price fails to hold the resistance, a bearish rejection could drive price downward. The first major support target aligns with the previous demand zone around 1.10700. A further drop could test the 1.09100 support area, as shown in the green zones. 📈 Bullish Alternative: A break and hold above resistance could invalidate the bearish setup and signal further upside movement. 🔻 Trading Plan: Sell bias near resistance with confirmations (e.g., rejection wicks, bearish engulfing, trendline break). Targeting the marked support levels. Invalidation if price breaks and closes above the resistance.
Short
by ForexOptimizer
EUR/USD - Bearish Reversal from Resistance This 4-hour chart of EUR/USD suggests a potential bearish reversal from a key resistance level. Rising Channel Breakdown: The price recently broke below an ascending channel, signaling weakness. Resistance Zone: The pair is testing 1.08788, a key level where selling pressure may increase. Bearish Target: A breakdown from this level could lead the price to 1.03704, aligning with previous support. Trading Plan: Sell Entry: Look for rejection at the resistance level. Stop-Loss: Above 1.09000 to minimize risk. Take Profit: First target at 1.03704. Technical Indicators to Watch: Bearish Candlestick Patterns at resistance. RSI Divergence indicating overbought conditions. Break and Retest Confirmation for a stronger short signal.
Short
by ForexOptimizer
Morning Star formation on Daily TF but..Morning Star formation on Daily TF. Monthly Closing above 29 would be a Positive Sign. However, 28 - 29 can be a Good Support Zone. 28.50 should not be broken, otherwise further Selling Pressure can be witnessed. On the flip side, 32 - 32.50 is an Important Resistance. However, only Morning Star formation is not enough, because it is currently at Strong Resistance around 32 - 32.5, so let it sustain this level. Sustaining this level may give 2-4 riyals gain.
TADAWUL:2190
by House-of-Technicals