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EUR/USD at a 23 year pivot lineThe Euro dollar has reached a critical long-term resistance level between 1.1050 and 1.1075. This area marks the 23.6% retracement of the entire downward move from the peak in 2008 to the low in 2022. It is also where the previous long-term uptrend, dating back to the low in 2000, intersects. This intersection is expected to serve as strong resistance. Considering the daily Relative Strength Index (RSI), which indicates a loss of upside momentum, it would be reasonable to expect some profit-taking at this level. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
by The_STA
2
EURUSD Forecast Navigating Supply and DemandIn our previous EUR/USD technical outlook, we discussed the possibility of the 1.0851 supply level turning into a demand level. On 10th April 2023, the price rejected this level, setting the stage for a push higher. Chart Analysis: EUR/USD Resistance and Support The daily EUR/USD chart shows the price reacting off the resistance zone around the 1.10422 level, with a support zone at 1.09098. If this support is invalidated, we can expect the price to test the next support at 1.07088. The 4-hour chart reveals a bearish divergence, and the 1-hour chart indicates a potential pull-back with the MACD below its zero line. Economic News Impacting EUR/USD The Euro will be affected by the ZEW economic sentiment and higher Euro Area inflation in the coming week. These factors, alongside hawkish ECB rhetoric, may impact the EUR/USD pair in the short term. The currency pair recently hit a yearly high of 1.1075, but a consolidation period may be needed before further upward movement. Stay updated on the latest EUR/USD news and analysis by checking out real-time rates, interactive charts, and expert insights. Upcoming Economic News Keep an eye on the economic news scheduled for the week, including: Mon, Apr 17: USD Empire State Manufacturing Index & EUR ECB President Lagarde Speaks Tue, Apr 18: EUR German ZEW Economic Sentiment Thu, Apr 20: USD Unemployment Claims, USD Philly Fed Manufacturing Index, USD FOMC Member Waller Speaks, and USD Existing Home Sales Fri, Apr 21: EUR French Flash Manufacturing PMI, EUR French Flash Services PMI, EUR German Flash Manufacturing PMI, EUR German Flash Services PMI, EUR Flash Manufacturing PMI, EUR Flash Services PMI, USD Flash Manufacturing PMI, and USD Flash Services PMI By monitoring technical analysis and upcoming news, traders can make more informed trading decisions in the EUR/USD market.
by ClintOnos
Bitcoin Short-Term Support & Resistance AnalysisPrices move because of supply and demand . When demand is greater than supply, prices rise. When supply is greater than demand, prices fall. Sometimes, prices will move sideways as both supply and demand are in equilibrium. When support and resistance lines are broken, there is a high possibility of a significant uptrend in that direction. Be aware of the stop-loss area when trading on margin ⓡ Resistance Line 30221$ ⓢ Support Line 28580$ ⓢ Support Line 28216$ ⓢ Support Line 27867$ The above price level represents an important tipping point, not an absolute analysis for buying and selling. You must be careful about your investment decisions. Thank you for reading my poor analysi
by WhaleGO_BTC
Daily ETH 4HChart - resistance and supportHello everyone, let's look at the ETH to USDT chart on the 4-hour time frame. As you can see, the price is moving above the local uptrend line. Let's start with the support line and as you can see the first support in the near future is $ 2065, if the support is broken then the next support is $ 2024, $ 1990 and $ 1958. Now let's move on to the resistance line, and here we first have a resistance zone from $ 2111 to $ 2129, if it breaks out the next resistance will be $ 2182 and $ 2269. Looking at the CHOP indicator, we see that the energy is gaining strength, the MACD indicates entering a local downtrend, while the RSI remains at the upper limit, which may also indicate the need for a price rebound.
by cryptodailyuk
Pain Points Ahead: Why Ethereum Investors Should Be Cautious Ethereum's recent price movements have been bullish, but I believe that a resistance mark is looming in the next week or so, which could cause the price to head downwards. Consequently, Icaution against buying into Ethereum at this time, as I believe that the downside risk outweighs the potential for upside in the near term. We must also consider the importance of other time frames when interpreting technical indicators like the Ichimoku Cloud, which currently suggests strong upwards momentum. If Ethereum can break through the resistance point, it may still have the potential for further upside. It is essential to note that market analysis is subjective and can vary based on different perspectives, and investing involves risk. Thus, it is crucial to conduct thorough research, analyze multiple indicators.
COINBASE:ETHUSDShort
by UnknownUnicorn910751
1
The Bear Market Looms: Is Ethereum in Trouble?Technical analysis using the Ichimoku cloud indicates that Ethereum is approaching a resistance level around the HKEX:2 ,200 price range. This resistance level suggests that Ethereum's price may experience a pullback or even lower lows from this point. The Ichimoku cloud is a technical analysis tool that uses a combination of indicators to identify support and resistance levels. It is made up of several lines that provide information about price momentum, trend direction, and potential reversal points. When the price is above the cloud, it indicates that the trend is bullish, while when it is below the cloud, it is bearish. In Ethereum's case, the cloud is indicating resistance around the HKEX:2 ,200 price range, which could result in a pullback or even lower lows from this point.
COINBASE:ETHUSDShort
by UnknownUnicorn910751
DOT/USDT 4HInterval Resistance and SupportHello everyone, I invite you to review the DOT chart on the four-hour interval. As we can see, the price is moving in the uptrend channel. Let's start by marking the support spots for the price and we see that we first have a support zone from $6.46 to $6.21, however if the price goes lower we have a second support zone from $6.01 to $5.80. Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the price is currently fighting a strong resistance at $6.85 equal to 0.618 Fib. We continue to have a strong resistance at $7.31, once the price breaks it, it will move towards the resistance at $7.90. The CHOP index indicates that the energy has been used up, the MACD indicates that the uptrend is maintained, while the RSI has crossed the upper limit of the range, which, according to our rule, often ends with a price rebound and so we see a small correction.
by cryptodailyuk
Daily BTC 4HChart - resistance and supportHello everyone, I invite you to check the current situation on BTC in pair to USDT, taking into account the interval of four hours. First, we will use blue lines to mark the local uptrend channel in which the BTC price is moving in the upper limit. Now we can move on to marking the places of support in the event of a correction. And here, in the first place, it is worth marking the support at $ 30592, when we go lower, the second support is at $ 30318, then we have a strong support zone from $ 30072 to $ 29826, and then support at $ 29523. Looking the other way, in a similar way, using the trend based fib extension tool, we can determine the places of resistance. The price must first break the first resistance at $ 30911, when it manages to break the second resistance is at $ 31311, then $ 31694 and then the resistance at $ 32258. Please pay attention to the CHOP index which indicates that most of the energy has been used, the MACD indicator indicates the maintenance of the local uptrend, while the RSI is moving above the upper limit of the range, despite slight increases, we can still expect an upcoming rebound that will cool down the indicators before further increases.
by cryptodailyuk
2
Daily BNB 4HChart - resistance and support - shorttermHello everyone, let's look at the BNB to USDT chart on a 4-hour time frame. As you can see, the price is moving above the local uptrend line. Let's start with the support line and as you can see the first support in the near future is $ 332, if the support is broken then the next support is $ 329, $ 327 and $ 325. Now let's move to the resistance line, as you can see the first resistance is $ 336, if you manage to break it, the next resistance will be $ 339, $ 341 and $ 343. Looking at the CHOP indicator, we see that the energy has been used, the MACD indicates an uptrend, while the RSI is moving above the upper limit, which may affect the price correction.
by cryptodailyuk
#BTC - Head and Shoulders pattern + HIGH ROOF Resistance.#BTC - Head and Shoulders pattern + HIGH ROOF Resistance. Can we break it? -> Look at the liquidity and volume which is super super super LOW. All indicators look like we are reaching this RUN's top. So be careful. - - - - - The head and shoulders chart pattern is a popular and easy-to-spot pattern in technical analysis that shows a baseline with three peaks, the middle peak being the highest. The head and shoulders chart depicts a bullish-to-bearish trend reversal and signals that an upward trend is nearing its end.
Short
by JB_Consulting