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Resistence

Gold Prices Surge Amid Geopolitical RisksGold prices attracted buying activity at the beginning of the week and held steady around the range of 2,431-2,432 USD, preventing a retreat. Iran's attack on Israel over the weekend not only pushed gold prices to new highs but also heightened market concerns. The US Dollar (USD), despite its weakness, continued to support the strong rise of gold. Moreover, strong expectations regarding the Fed's first interest rate hike in September instead of June underscored the ongoing importance of inflationary pressures. From a technical standpoint, on the 4-hour chart, gold prices continued to affirm their upward trend. The Relative Strength Index (RSI) surpassed the 50 threshold, setting the stage for a significant price increase in the near future.
OANDA:XAUUSD
by Stephen_Anders
3
Support and Resistance levelsSupport and resistance levels, the bedrock of technical analysis, are fundamental elements. They serve as critical points that delineate potential price movements and are pivotal in decision-making processes for traders and investors alike The basis: There are several fundamental concepts in trading that remain the same over a long period of time. Among them, the concepts of support and resistance levels stand out. When used correctly, support and resistance levels improve trading efficiency in financial markets. Today we will delve deeper into these concepts. Price behavior: The fundamental principle of price behavior lies in the concept of supply and demand, governing the existence and operation of any market. When demand outweighs supply, it prompts an upward push in prices, while in reverse circumstances, a decrease is observed. By identifying levels of supply and demand, traders significantly enhance their success rate. A support level indicates a price range where strong buying positions are concentrated, typically defined by two minimum price points. A resistance level, conversely, denotes a price range around which strong selling positions are clustered, often marked by two maximum price points. It's important to note that support and resistance levels should not be viewed as precise lines. Prices may not necessarily adhere to these levels point by point; often, they may not even touch the level directly, sometimes piercing through it. This variability is normal, so these levels should be perceived more as zones of support and resistance. The width of these zones can vary, with the magnitude of dispersion dependent on the timeframe in which trading occurs. The higher the timeframe, the potentially broader the range of support and resistance levels. Once again for strengthening: Support and resistance levels represent specific price ranges on a chart (often represented by rectangles in my analysis) where the direction of price movement has historically changed. These ranges attract traders' attention because they provide clear points for setting stop losses and entering trades. In addition, these levels usually attract large buyers or sellers whose limit orders contribute to market dynamics. Essentially, the level denotes the price area in the market where traders perceive the price to be either overpriced or underpriced, depending on the prevailing market conditions. Therefore, it is extremely important to closely monitor key levels where the role of support and resistance has changed or where significant price reversals have occurred. Blending levels signify pivotal points on a price chart where price action can prompt a reversal in the opposite direction. In the presence of a robust trend, price movements may penetrate through these supply and demand levels, leading to potential shifts in direction. Such occurrences typically coincide with heightened transaction volumes. The interplay of price adjustments, heightened market activity, and trading volumes collectively influence market direction. When resistance is breached and the price retraces to its previous level, there's a likelihood that bulls will once again push it upwards. Conversely, if the price retraces to the breached level after breaking through support, bears are likely to actively drive it downwards. Support and resistance levels can be identified as areas in the market where traders are more inclined to buy or sell, depending on current market conditions. This creates a zone of collision between buyers and sellers, often prompting the market to change its direction. Retest: A retest of a level refers to a brief return of the price to the breached support or resistance line for testing purposes. Following the retest, the price typically continues its movement in the direction of the breakout. On higher time frames, support and resistance levels become more powerful: It is important to observe the price action around levels: If the price swiftly reverses from a level into the opposite trend, it indicates significant importance of that level. If the price tests a specific area multiple times with minor retracements, it's likely that the level will eventually be breached. Swing zones refer to areas where the price retraces to the previous pullback in either a downtrend or uptrend. In less robust trends, the price tends to return to the boundary of the previous correction before continuing its movement. Of course, support and resistance are dynamic concepts that require constant attention and analysis as their meaning changes depending on prevailing market conditions. Moreover, it is critical to consider multiple confirmations such as volume analysis and breakouts to confirm the strength of these levels. Thank you for your attention!
Education
by truepersonal
26
"Gold Prices Surge Amid Middle East TensionsThe price of gold continues to rise due to political tensions in the Middle East. This raises expectations that the Federal Reserve (Fed) will cut interest rates in the near future. Lower interest rates can make currency depreciate, making risk-free assets like gold more attractive. On the 4-hour chart, the price of gold is stable above the Simple Moving Averages (SMA) 20, 50, and 100, indicating that the upward trend is still intact. The Relative Strength Index (RSI) is currently above 50, indicating the strength of this upward trend. This suggests that despite possible short-term fluctuations, the long-term trend of the gold market remains stable and has growth potential.
OANDA:XAUUSD
by Daisy_Anna
ETC at the first support zoneHello everyone, let's look at the 4H ETC to USDT chart, as we can see, the price is staying in an uptrend channel, from which the attempt to break out from the bottom has been temporarily stopped. Let's start by setting goals for the near future that we can include: T1 = $33 T2 = $40 AND T3 = $50 Now let's move on to the stop-loss in case of further market declines: SL1 = $24 - $22.8 SL2 = $20 AND SL3 = $15 - $13.50 Looking at the RSI indicators and the STOCH indicator, even though we are already quite low, which could indicate an upcoming rebound, we should be careful how BTC itself, which is followed by the entire market, will behave.
by cryptodailyuk
GBP/USD plummeted under the pressure of the US Dollar (USD) In recent US trading sessions, GBP/USD has faced significant downward pressure, dropping below the 1.2450 level, due to the sustained strength of the US Dollar (USD). From a technical perspective, analyzing the chart of GBP/USD reveals a clear trend of price decline. The currency pair has consistently reached lower highs and lower lows recently, while also breaching key support levels. This is a strong indication that the downward trend of GBP/USD is being reinforced. Furthermore, the Relative Strength Index (RSI) is holding just above the 30 level, indicating that there is still room for further downside before the market becomes oversold.
by Daisy_Anna
Breaking Down the Trendline, GBP/USD Continues Downward TrendGBP/USD continues to decline below 1.2500 due to the strong US dollar and political tensions in the Middle East. This not only puts pressure on the British pound but also weakens the UK economy, causing instability in the currency market. Furthermore, the price has broken through the trendline, indicating that the downward trend of this currency pair is becoming stronger. This breakout may be seen as a negative signal, adding selling pressure and increasing the weakness of the British pound against the US dollar.
by Stephen_Anders
EUR/USD Continues Downward Trend Following CPI DataThe EUR/USD currency pair continues its downward trend following the release of CPI inflation data, with prices dropping to 2,700 USD during the European trading session on Friday. The CPI inflation data release caused the US Dollar (USD) to strengthen significantly, putting downward pressure on this currency pair. This has raised concerns among investors about the possibility of the European Central Bank (ECB) implementing monetary policy measures to control inflation. From a technical standpoint, on the 1-hour chart, the downward trend of EUR/USD remains clearly intact. Prices are currently below the simple moving averages (SMA), indicating that the downward trend is still strong. However, global economic and political news also continue to cause volatility in the market, so traders should carefully consider and evaluate their strategies to trade successfully and effectively!
by Daisy_Anna
Gold Prices Reach Record High Amid Middle East TensionsThe price of gold has risen to a new record high, closing at the resistance level of $2,400 USD in the Asian trading session on Friday. The escalation in gold prices is driven by political tensions among Middle Eastern countries, despite the Fed's anticipated interest rate cut in September. Currently, the price of gold is facing difficulty in surpassing the $2,392 USD level, after reaching a new high at $2,396 USD. However, if the price continues to rise and breaks through the $2,400 USD threshold, it could generate a stronger bullish trend, aiming for the psychological level of $2,450 USD. Although the Relative Strength Index (RSI) is at an overbought level, nearing 72.5, this indicates that there are still plenty of opportunities for buyers to demonstrate their strength.
OANDA:XAUUSD
by Daisy_Anna
Gold continues upward in anticipation of the Fed's rate cutThe price of gold is soaring towards the nearly 2390 mark, with expectations that the Federal Reserve will cut interest rates this year. From a technical perspective, on the 1-hour chart, the upward trend of gold prices remains strong and stable. Gold prices are maintaining above the Simple Moving Average (SMA) lines, suggesting that the upward trend may continue in the foreseeable future. However, the Relative Strength Index (RSI) indicates that the market is overbought, which could lead to a correction phase before gold prices resume their upward trajectory.
OANDA:XAUUSD
by Stephen_Anders
ETH/USDT 4HInterval Chart ReviewHello everyone, let's take a look at the ETH to USDT chart on a 4-hour time frame. As we can see, the price broke out of the downtrend line, but after reaching the level of $3,701 at the golden fib point, we saw a quick recovery and the price is currently bouncing off the trend line. Let's start by determining the support line and as you can see, the price currently holds support at $3,472, if the support is broken, the next support is $3,313, then we have support at $3,199, and then a very strong support at $3,054. Now let's move on from the resistance line, as you can see, the level of $3,701 is again a strong resistance, when you manage to break out of it, the next resistance is around $3,870, and then at the level of $4,092. Looking at the RSI indicator, we can see that a downward trend line has formed, which may indicate that the price will go even lower. Additionally, when we look at the STOCH indicator, we can also see room for another attempt at recovery.
by cryptodailyuk
1
Analyzing GBP/USD: Price Continues Downward TrendIn Wednesday's US trading session, the GBP/USD pair plunged to a two-month low at 1.2520 after the release of CPI inflation data. This increased selling pressure and raised concerns about the UK's economy and monetary policy. Despite some signs of short-term adjustment, GBP/USD continues its downward trend, as evidenced by prices declining towards the Simple Moving Averages (SMA). Furthermore, the Relative Strength Index (RSI) saw a higher increase during the European trading session, but it still remains below 40, indicating strong selling pressure. A minor short-term adjustment and rally are expected, but it is not strong enough to change the downward trend of this currency pair.
by Stephen_Anders
Gold Price Fluctuations Following US CPI Inflation DataIn Wednesday's US trading session, the sharp decline of Gold after reaching a new peak at $2,365 has rendered the market unstable and caused sudden volatility. This was spurred by the release of US Consumer Price Index (CPI) data, generating uncertain signals in the market. However, upon examining the 4-hour time chart, we can still observe signs of maintaining the upward trend. The Simple Moving Average (SMA) is still trending upwards with a steep slope and no signs of adjustment. Simultaneously, the Relative Strength Index (RSI) remains stable around the 60 level, indicating diminishing selling pressure after the market has calmed down. This stability could be a signal that prices are likely to surge in the near future.
OANDA:XAUUSD
by Daisy_Anna
Technical Analysis: Market Fluctuations XAUUSDXAU/USD dropped sharply after reaching a new high of 2.365 USD in Wednesday's US trading session following the release of US Consumer Price Index (CPI) data, which unsettled the market and caused sudden volatility. Analysis from the 4-hour chart indicates that XAU/USD is trading below both the simple moving averages (SMA) 20 and 50. This is a clear sign of selling pressure in the market. If the price continues to decline and crosses below the SMA 100, we may witness an extended period of price decline. Furthermore, the Relative Strength Index (RSI) is trading around the 50 level, indicating a balance between buying and selling. If the price continues to trade around this level and drops below the 40 level, we might see a new downward trend in the market.
OANDA:XAUUSD
by Stephen_Anders
Technical Analysis Signals Strong Bullish Trend for USD/JPYIn the past two days, USD/JPY has maintained below 152.00. However, after the release of the United States' Consumer Price Index (CPI) data, this currency pair underwent a sharp increase, surpassing the 152.00 threshold and reaching 152.64. Based on technical indicators, we can observe that the USD/JPY price is experiencing a strong upward trend. This upward movement is illustrated by the price surpassing the Simple Moving Averages (SMA) by a significant margin, indicating a robust and stable uptrend. Furthermore, the Relative Strength Index (RSI) is also indicating overbought conditions, suggesting that the market may undergo a short-term correction before a strong upward momentum resumes.
by Daisy_Anna
GBP/USD Plummeting in US Session Following US Inflation DataThe GBP/USD currency pair has shifted from an upward trend to a sharp downward trend, pushing the decline to the crucial level of 1.2600 during Wednesday's US trading session. This is a result of the strength of the US dollar, particularly following the release of inflation data from the United States. On the 4-hour chart, the Relative Strength Index (RSI) has decreased to around the 40 level, a clear indication of the consolidation of the downward trend. Additionally, the price has crossed and touched the simple moving averages (SMA), a strong signal indicating that the downward trend may continue in the near future.
by Daisy_Anna
GBP/USD Continues Sideways Amid US CPI DataThe British Pound (GBP) striving to overcome the resistance level at 1.2700 against the US Dollar (USD) is a positive sign for the strength of the UK economy amidst the global business crisis. The price of the GBP/USD currency pair may continue to trade sideways, especially as investors await data on the Consumer Price Index (CPI) of the United States. On the 4-hour chart, the Relative Strength Index (RSI) indicates that this currency pair remains high and nearing overbought levels. This suggests a strong upward trend and the potential for continued price increases for GBP/USD.
by Stephen_Anders
Technical Analysis: Potential Upside for EUR/USD In Wednesday's European trading session, we witnessed an expansion of the sideways trend of the EUR/USD currency pair. This occurred as the US Dollar (USD) strengthened its recent losses in response to significant CPI inflation data from the United States. Looking at the 4-hour chart, we observe that the Simple Moving Average (SMA) and the Relative Strength Index (RSI) continue to support the upward trend of the EUR/USD pair. Prices are trading above the SMA lines, while the RSI is above the 50 level, indicating a slight upward trend. Sustaining prices around this level and the RSI advancing towards the 60 mark could lead to a stronger upward momentum in the near future.
by Daisy_Anna
Strategic Outlook to Price Fluctuations of EUR/USDThe Euro is still fluctuating around the 1.0850 level, constrained by support and resistance levels. Looking at the 4-hour chart, signs of price increase are still evident at the current moment. EUR/USD is expected to encounter the highest initial resistance level so far in April at 1.0885, and then continue to rise to higher levels. The price remains above the simple moving averages (SMA), indicating that the upward trend is being maintained. However, we need to consider the impact of the global economy and particularly the influence of the US Dollar (USD). The fluctuations of the US Dollar (USD) can cause significant changes for this currency pair, hence evaluating and forecasting the global economic situation is crucial.
by Stephen_Anders
Gold Continue Maintains Uptrend Along The price of gold is gently declining below $2,350 in Wednesday's Asian trading session, following its new record high of $2,365 on Tuesday. Gold traders seem to have pocketed profits after a relentless rally and ahead of the highly anticipated release of the US CPI inflation data. On the 4-hour chart, overbuying pressure has begun to weigh on XAU/USD. Technical indicators remain at multi-month highs, albeit losing some upward momentum, yet failing to clearly define a temporary bottom. Simultaneously, this currency pair continues to advance along the Simple Moving Average (SMA) lines, with no signs of giving
OANDA:XAUUSD
by Daisy_Anna
Gold Market Fluctuations: Analyzing Recent TrendsThe Gold market has experienced some fluctuations in recent days. In Wednesday's Asian trading session, the price of gold saw a slight adjustment as it dropped below the threshold of 2,350 USD, after reaching a new record high on Tuesday at 2,365 USD. Looking at the chart, we can observe signs of price correction towards a retracement, followed by a short-term downward trend before resuming its upward trajectory. Currently, the gold price is trading below the Simple Moving Average 20 (SMA 20), indicating the presence of a short-term downward trend. It is predicted that the price will test the SMA 50 area before bouncing back strongly. However, to better understand the situation, we also need to consider other factors such as economic, political, and global market conditions. These factors could significantly impact the price of gold.
OANDA:XAUUSD
by Stephen_Anders
WIFUSDT 4HInterval Chart ReviewHello everyone, let's take a look at the 4H WIF to USDT chart as we can see that the price is recovering but still above the uptrend line. Let's start by setting goals for the near future that we can include: T1 = $4.17 T2 = $4.83 AND T3 = $5.91 Now let's move on to the stop-loss in case of further market declines: SL1 = $3.66 SL2 = $3.23 SL3 = $2.55 AND SL3 = $2.55 Looking at the RSI indicator, you can see that the local upward trend line has been broken with room for further recovery. However, the STOCH indicator also confirms a strong downward movement and there is also room for the price to go lower, which indicates extreme caution.
by cryptodailyuk
Analyzing Short-Term Trend Correction of USD/JPY In general, USD/JPY is still in an upward trend, but in the Tuesday's US trading session, the price began to decline to the level of 151.75. This may indicate short-term volatility in the market. Based on technical analysis, we can see that the price has broken through the SMA 20 and SMA 50 moving averages. This suggests that the short-term downward momentum may be accelerating, potentially leading to a more significant correction in the downward trend. Furthermore, the Relative Strength Index (RSI) is trading around the level of 40, indicating that the strength of the downward momentum is still being maintained. If the price continues to trade within this range and further declines, it could indicate that a strong downward trend is forming.
by Stephen_Anders
Analysis Trend Maket of USD/JPYUSD/JPY began to retreat after reaching a high of 152.00 in Tuesday's US trading session, bringing the pair down to 151.75. This adjustment followed comments from BoJ Governor Ueda. On the chart, technical indicators have shown signs of support for the downward trend. Specifically, prices have broken through the SMA 20 and SMA 50 moving averages, indicating a short-term downward phase. If prices continue to decline and surpass the SMA 100, a more significant downturn could be anticipated in the near future. However, USD/JPY remains volatile due to intervention from the Japanese government and the Bank of Japan (BoJ) in the forex market to stabilize the yen. The Japanese government has stated that it will not accept a decline in the yen at this level as it could impact businesses. Therefore, they tend to intervene in the price range between 150.00 and 152.00. Therefore, investors need to consider and analyze various factors such as global economic and political news along with fluctuations in the price of this currency pair to ensure the most effective trading.
by Daisy_Anna