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Resistances

WHETHER THE EUR/USD IS READY FOR A LOWER LOWEuropean Central Bank President Christine Lagarde noted that inflation expectations do not point to risks of prolonged overshooting, adding that the EU still needs an accommodative monetary policy stance. On the other hand, US Federal Reserve chief Powell said that “it's fair to say” inflation is more concerning than earlier this year, citing supply chain issues. He also repeated that they “have all but met” the test for tapering. On Wednesday, the EU will release the September Economic Sentiment Indicator, foreseen at 116.9, while multiple ECB officials are scheduled to speak throughout the day. EUR/USD traded lower yesterday to hit support once again near the 1.1676 barriers today in Asia. However, it has yet to confirm a forthcoming lower low since August 19th and continues to trade below 200-EMA, more importantly, below the downside resistance line taken from the high of August 2nd. Therefore, the experts' sentiment is that the short-term picture is negative. An apparent dip below 1.1676 will confirm a forthcoming lower low. It may initially target the 1.1600 zones, defined as a support by the lows of the end of last year, the break of which could carry more significant bearish implications. It could allow the bears to shoot for the 1.1400 key psychological area. On the upside, in order to start examining a reversal, the bulls would like to see a break above 1.1900. This will not only confirm a forthcoming higher high on a daily chart, but it may also confirm the break above the aforementioned downside line. The bulls may then get encouraged to climb towards the 1.2000 area or much higher to 1.2200. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
by legacyFXofficial
Key Areas Ahead !Here we have updated potentially significant Support Resistance Areas. When I post these areas please look for Price Action there. Like in our previous idea price slightly broke through the resistance but it never gave a buying signal there. The buying or selling decision has to be made watching Price Action watching the Candle Sticks patterns over there. Previous Idea shows a classic example of price leaving our resistance zone and then retesting it multiple times and making clear cut selling Candle Sticks Pattern before finally giving us a big leg down.
by awan0454
THE BRITISH POUND BOUNCED BACK AND FORMED TRIPPLE BOTTOMThe 200 days EMA continues to attract a lot of attention, including the 1.3700 level, which offers quite a resistance and support in the past. The price bounced back from 1.3600 level and formed a triple bottom on a daily chart, and created a key support level to which traders from all over the world will pay special attention. If the price will turn around and break down below the 1.36 level, it would negate the possibility of the triple bottom, and it would be an extraordinarily negative sign of things to come. At that point, the sellers would almost certainly overwhelm the market, and it is possible to send the pair much lower to 1.3500 or far below to 1.3200. If the price break above the high from the last week and 200-EMA, which stops the price several times, it will activate the attention of buyers. If the market is breaking above the zone 1.3900-1.4000 would undoubtedly open up the possibility of a bigger move to the upside. At that point, the investors would become aggressively long of the pound, and it would be possible to test the previous highs from February and May 2021 at around 1.4250. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
by legacyFXofficial
GOLD BOUNCE BACK AND STAYS IN A DAILY CHART TRIANGLEGold has been considered a highly valuable commodity for millennia, and the gold price is widely followed in financial markets around the world. Most commonly quoted in U.S. Dollars (XAU/USD), gold price tends to increase as stocks and bonds decline. The metal holds its value well, making it a reliable, safe haven. Markets turn cautious, primarily inactive, as the Federal Reserve (Fed) prepares for the Federal Open Market Committee (FOMC) monetary policy meeting announcement. Recently mixed data contrasts the Fed policymakers’ hawkish bias to confuse traders. Also significant is the return of China after a long weekend amid chatters that the dragon nation will save its most significant real-estate player. Evergrande Chairman and the International Monetary Fund’s (IMF) Chief Economist Gita Gopinath also sound optimistic in his latest speech and supported the brighter concerns. Gold took another dive lower to end last week but saw some strength around a familiar zone of support yesterday. The 1742/65 area dates to April of last year, an area that has been in play numerous times since, with its most recent test in June. A closing candle below yesterday’s low at $1742.00 could do the trick in accelerating another leg lower. If this is the case, the next line of support to watch comes by lower triangle line and strong support horizontal line at $1680.00. It had been a support line on several occasions from April last year. Suppose the price breakthrough this zone it is possible to reach the levels around $1600.00 per troy ounce because it will activate the bears. If the price continues on North in the following days, it is possible to test the upper resistance triangle line again at $1833.00. If the price breakthrough, the bulls can test the levels around $1915.00 or slightly higher at around $1960.00. if inflation continues to rise, why not see again price levels of around $2000.00. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
OANDA:XAUUSD
by legacyFXofficial
1
Support Zone ( Fib 0.5 ~ 0.16 ) BTC 1DBTC was able to support Fib 0.5 ~ 0.618, if it can be above Fib 0.382 in the next few days, in case of a break of resistance 53, it is predicted that the Fib range of 1.414, which is a strong resistance, will move forward. , Price range 58. Impressive items for the uptrend - Making the Golden Cross in daily transactions - Support in Fib 0.5 ~ 0.618 If BTC fails to support Fib 0.618, the correction is up to 37, in which case this analysis is invalid and will be updated. The responsibility for buying and selling lies solely with you
by Saeed-sheikh
$CGCCanopy Growth Corp stock is lower by -10.07% over the last 12 months, and the average rating from Wall Street analysts is a Hold. InvestorsObserver’s proprietary ranking system, gives CGC stock a score of 33 out of a possible 100. That rank is chiefly influenced by a long-term technical score of 12. CGC's rank also includes a short-term technical score of 16. The fundamental score for CGC is 71. In addition to the average rating from Wall Street analysts, CGC stock has a mean target price of $23.14. This means analysts expect the stock to rise 56.12% over the next 12 months. But when we move to the technical side of things, Canopy Growth Corporation has been struggling to break above resistance for quite some time. It’s also sitting in oversold territory so you’d expect price to retest resistance sometime next week. If price is able to break above I have no question in my mind this will be a huge win. Keep this on your watchlist. - Factor Four
NASDAQ:CGCLong
by TheBlankFund
GBPUSD vs 3 Resistance LevelGBPUSD is retesting 3 resistance at once, the rising wedge lower trendline & its previously resistance area, and its bigger timeframe down trend line. Of course, we're still waiting for confirmation in Candle Pattern & breakout. Manage your own risk. Disclaimer: This content is intended to be used and must be used for information and education purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. Accordingly, the writer will not be liable in respect of any damage, expense, or other loss you may suffer arising out of such information or any reliance you may place upon such information.
by Phoenix-Rise-Trade
Elliott Wave Analysis: US Dollar Nearing March Highs ResistanceHello traders! Today we will talk about DXY- US dollar Index, which we see it finishing five-wave cycle and approaching strong March highs resistance zone. Well, USD IS still strong, but it's now moving into some late stages of a higher degree structure. We are also in the mid of the week when flows can change, especially when you have the FED minutes. Keep in mind that there were some bad US data lately which means that again FED may wait with tapering for longer than we think. However, inflation is still a real concern which is visible also through latest move on GOLD that is again on the rise despite big short orders last week, so looks like speculators are using metal as a hedge against and this moves can extend further to the upside. From an Elliott Wave perspective we see USD trading higher ahead of FED minutes but DXY can be running into late stages of a higher degree structures; move that is still expected to pass 93.20 and 93.40 to complete the pattern with five waves up, so resistance may not be far away, maybe already around 94 area. Trade well! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
TVC:DXY
by ew-forecast
1
Elliott Wave Analysis: BTC Futures Approaching GAP ResistanceHello Crypto traders! Today we decided to take a look on BTC Futures chart, mainly because of its open GAP in MAY, which can now act as a strong resistance area. Well, as you can see, BTC made five waves down from the highs, which in Elliott Wave theory indicates a change in the trend. After every five waves, a three-wave pullback follows and as you can see, BTC can be now unfolding and finishing a three-wave A-B-C correction. Wave C is a motive wave and it should be completed by a five-wave cycle that can ideally stop in the golden 50%-61,8% Fibonacci retracement, from where we should be aware of a reversal down, probably once May's GAP is filled. What we want to say is that Crypto market is generally in the strong resistance zone, testing June highs, so be very careful in upcoming days, because a reversal down may occur anytime soon, maybe already during the weekend. Be humble and trade smart! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
CME:BTC1!Short
by ew-forecast
6
ETHUSD RETEST UPTREND The ETHUSD chart has been follow the H.L pattern. You can see the R1, R2 and R3 = retest forming from the previous consolidations. The market is still in its correction state, it is very advisable to enter the market at my down position and set risk management theories backing your daily trade We will remain on the uptrend for some time and it will be forming a very strong resistance at 3,700 Always remember to trade safe. Leave a like and comment below it will help us for more better updates and analysis. Cheers.
COINBASE:ETHUSD
by GerradFletcher
3
Short 💥 End of Bullrun - Bulls Lose Their Life SavingsShort 💥 End of Bullrun - Bulls Lose Their Life Savings "Take profit or lose it all." 🔴 KEY POINTS: - Momentum pushed Price Action to Resistance Line (red line on the chart) - Double Resistance: Here, the Resistance Line coincides with a Historic Resistance Area from historic tops (red area/zone on the chart) - Next Support Zone (green area/zone on chart) is 1k below the current price So, our AI thinks that ETH will crash to $1.7k.
BITFINEX:ETHUSDShort
by Elysian_Mind
6
SHORT 🩸 Bearish Flag Chart Pattern, Historic Resistance Area SHORT 🩸 Bearish Flag Chart Pattern, Historic Resistance Area Our previous idea produced +1000% profit : RELATED IDEAS, "Smart Long 🧠 Bullish AI 👾 Machine Learning (ML) Idea ⚙️" Let's see our actual position. BTC/USD BTC /USDT PRICE ACTION HIT POINTS: - Price hit Historic Resistance Area (red area) - We detected Bearish Flag Chart Pattern (red channel's lines) - Momentum is in Bearish Demand Area & Accumulation Zone (inside the red channel) As our purple arrows show, we predict future Price Action to fall back to the Double Support Point where the Historic Support Area (green area) meets the Bearish Flag Channel Support Area (red bottom channel line). From here, the Price will continue accumulation and Range up to the Historic Resistance Area (red area) again.
BITSTAMP:BTCUSDShort
by Elysian_Mind
3
CHRUSDT is testing Daily resistance 🦐CHRUSDT is testing Daily resistance after the price bounced on the weekly support. IF the price will have a breakout, According to Plancton's strategy (check our Academy ), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure.
Long
by InkyGrip
10