CHF/JPY BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
We are going short on the CHF/JPY with the target of 175.208 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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SELL
USD/JPY Rate High: Yen Under Pressure from Strong USDCurrently, USD/JPY is rising as the U.S. dollar strengthens on expectations that Trump’s policies could impact Federal Reserve interest rates, driving the pair above 150.
In the short term, USD/JPY may stay elevated, though long-term trends will depend on Fed rate decisions and the Bank of Japan’s (BOJ) response. While BOJ maintains its loose monetary stance, the Fed’s potential for high rates to control inflation continues to support the USD/JPY pair. However, if the Fed signals rate cuts or BOJ shifts its policy, USD/JPY may decline.
EUR/USD May Decline as USD Gains on Trump-Related TradesToday, the EUR/USD pair is under pressure due to the strength of the USD, driven by expectations of higher U.S. interest rates and recent political developments. The pair has fallen to a multi-month low, hovering between 1.0685 and 1.0680.
With increased volatility around the U.S. political environment—particularly after Donald Trump’s election win—alongside a Double Top pattern on the market chart, a short-term forecast suggests that if EUR/USD breaks below the 1.07 level, it may test support around 1.05. However, if economic indicators in the eurozone improve, the EUR/USD could have potential for a rebound within its current range. The Federal Reserve's rate decisions and any new fiscal policies could further influence the currency pair's direction in the coming days.
XRPUSDT Breaks Downtrend, Bullish Momentum BuildsXRPUSDT has successfully broken out of its downtrend and is now moving upward at a rapid pace.
Currently, XRPUSDT is up by more than 3.6% on the day, confirming a new support level as marked on the chart. With signals from the EMA 34 and 89, XRPUSDT is gaining bullish momentum fueled by positive market sentiment. The confluence of the EMA levels with this support area is shaping up to be an ideal entry point.
Consider entering a position wisely, and be sure to set your take-profit and stop-loss levels!
Global Gold Price Drops Sharply After Trump WinsAfter news of Trump’s win broke, gold prices dropped by 3% within a single day due to the strong rebound of the U.S. dollar. This decline was primarily driven by traders anticipating that Trump’s trade policies would include higher tariffs, likely keeping interest rates elevated and making gold more expensive for holders of other currencies.
According to me, gold prices began to decrease shortly after the election ended, as the U.S. dollar surged, exerting downward pressure on gold.
In the short term, gold prices may experience significant volatility as markets assess the impact of future Federal Reserve decisions and respond to global risk factors. Although fluctuations are expected, if U.S. interest rates decrease or additional geopolitical risks arise, gold prices could return to an upward trend.
ETHUSDT on a Strong Bullish Run: Breaking New GroundToday, ETHUSDT is maintaining a powerful upward trend, trading around 2840 USDT with an impressive gain of over 4.44% for the day.
After a period of consolidation within a wedge pattern, it successfully broke through the sideways trend and surged upward.
The immediate target now is the higher resistance zone around 3400 USDT, with a closer level at 3170 USDT as a potential checkpoint.
What are your thoughts on ETHUSDT's trend? Share your opinion in the comments below. Good luck!
Gold Hits 3-Week Low: Recovery or Further Decline?Gold prices dropped over 3% to a 3-week low on Wednesday (Nov 6) as the USD strengthened following Donald Trump’s victory.
Gold has reached a critical support level around 2,642.534 USD/oz, acting as a key "stop point." If strong buying interest emerges here, gold may see a short-term recovery.
However, if this support level doesn’t hold, the next downside target could be 2,588.110 USD/oz, where additional buying pressure is expected.
The 34 and 89 EMA lines are currently above the price, indicating that the downtrend still dominates. To confirm a recovery, the price needs to climb back above lost resistance levels. Conversely, if selling pressure persists and the price stays below the EMAs, the downward trend is likely to intensify.
Investors should closely monitor price reactions at these support and resistance levels, especially as global political and economic factors could lead to strong market volatility.
ETHUSDT Faces Strong Resistance, Downtrend PersistsETHUSDT is currently trading around 2,589 USDT and remains within a downward channel on the 4-hour chart. Each time the price approaches the resistance line of this channel, selling pressure increases, pushing ETH back into the downtrend. The main trend is still bearish, with signals indicating that selling pressure is dominating in the short term.
Key Analysis Points
Important Resistance Zone: ETH is facing a strong resistance level right at the upper boundary of the downward channel. This is a zone where sellers typically capitalize on to increase pressure, pushing the price back down.
Short-Term Support Level: The current support lies around 2,480 USDT. This level may trigger some defensive buy orders. However, if it is breached, ETH may continue to drop further, potentially heading below 2,400 USDT.
Next Trend: If ETH fails to break through the channel resistance, a significant correction is likely, aligning with the ongoing downtrend. In this scenario, ETH could continue to move downward, with the next target at a deeper support level.
Given the current situation, a selling strategy appears to be more promising as ETH approaches resistance zones within the downward channel without breaking through.
BTCUSDT Near Key Resistance – Another Rally Ahead?BTCUSDT is currently trading around a high of 72,890 USDT, with prices surging since its last breakout from the downtrend at 68,700 USDT.
The coin is gaining strong momentum due to several key factors:
Expectation of a Bitcoin Spot ETF in the U.S.: Investors anticipate that the SEC will approve a spot Bitcoin ETF soon, paving the way for institutional inflows.
Positive Sentiment Ahead of the U.S. Elections: Economic policy uncertainty has led investors to view Bitcoin as an alternative asset for value preservation.
Interest from Major Financial Institutions: Growing interest from top financial institutions is boosting confidence and demand for Bitcoin.
From a technical and indicator perspective, BTCUSDT is approaching a critical resistance level. If it successfully breaks through, another strong rally could be on the horizon!
COIN Coinbase Global Options Ahead of EarningsAnalyzing the options chain and the chart patterns of COIN Coinbase Global prior to the earnings report this week,
I would consider purchasing the 200usd strike price in the money Calls with
an expiration date of 2024-11-15,
for a premium of approximately $21.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
EURUSD Breakout And Potential RetraceHey Traders, in today's trading session we are monitoring EURUSD for a selling opportunity around 1.07800 zone, EURUSD was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 1.07800 support and resistance zone.
Trade safe, Joe.
DXY Will Go Lower From Resistance! Sell!
Please, check our technical outlook for DXY.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 105.033.
Taking into consideration the structure & trend analysis, I believe that the market will reach 103.770 level soon.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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EURCHF Will Go Lower! Short!
Take a look at our analysis for EURCHF.
Time Frame: 3h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 0.939.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 0.938 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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SILVER Is Bearish! Short!
Take a look at our analysis for SILVER.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 32.634.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 30.996 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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GBP/CAD BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
GBP-CAD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 1.798 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the GBP/CAD pair.
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XAUUSD Faces Resistance: Pullback or Breakout?The 4-hour chart of XAUUSD on November 6 shows gold encountering strong resistance at 2,756.216 USD/oz, with the 34 and 89 EMA lines forming a major barrier.
If the price fails to break through this level, there is a high probability of a pullback to the support zone around 2,729.381 USD/oz, potentially dropping further to 2,717.105 USD/oz if selling pressure increases.
Investors should watch the price action at these support and resistance levels for informed decisions, especially as the USD remains strong due to monetary policy factors and geopolitical risks.
SPX500USD Will Move Lower! Sell!
Here is our detailed technical review for SPX500USD.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 5,735.3.
Considering the today's price action, probabilities will be high to see a movement to 5,643.6.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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KO Coca-Cola and the E. coli outbreak linked to McDonald’sIf you haven`t bought the dip on KO:
Now you need to know that Coca-Cola (KO) could see a decline due to the E. coli outbreak linked to McDonald’s, as the two brands have a longstanding partnership, with Coca-Cola products being served widely in McDonald's restaurants.
Negative publicity impacting McDonald's could indirectly affect Coca-Cola by reducing in-store traffic, which may lower beverage sales.
Additionally, Coca-Cola's association with fast food means that consumer sentiment shifting towards healthier options could further impact sales.
If the outbreak spurs changes in public dining behavior, Coca-Cola may face a temporary decline in demand across other food service venues, potentially impacting its stock performance.
SNAP Options Ahead of EarningsIf you haven`t bought the dip on SNAP:
Now analyzing the options chain and the chart patterns of SNAP prior to the earnings report this week,
I would consider purchasing the 11usd strike price Calls with
an expiration date of 2024-11-1,
for a premium of approximately $1.01.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
AUD/CHF BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
It makes sense for us to go short on AUD/CHF right now from the resistance line above with the target of 0.567 because of the confluence of the two strong factors which are the general downtrend on the previous 1W candle and the overbought situation on the lower TF determined by it’s proximity to the upper BB band.
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NZD/CHF SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
Bearish trend on NZD/CHF, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 0.514.
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EUR/USD is increasing and expected to tend to be higherAdemha greets everyone,
Currently, the EUR/USD exchange rate stands at around 1.089 USD per Euro. The outlook ahead leans towards a potential appreciation of the Euro, driven by several factors:
Monetary Policy: Although the U.S. Federal Reserve (Fed) maintains a tightening stance, there is anticipation that pressure to raise interest rates will gradually ease if inflation continues to cool. This could weaken the Dollar, allowing the Euro to recover.
Eurozone Economy: If economic stimulus measures in Europe or improvements in the service and industrial sectors prove effective, the strength of the Euro could increase.
Forecast: The Euro is likely to rise if economic conditions in the Eurozone improve or if the Fed adopts a more dovish policy by 2025, creating a favorable environment for the exchange rate to reach higher levels in the medium to long term.
BNBUSDT todayBNBUSDT is currently trading around $561.56, and it remains within a descending channel, showing clear bearish sentiment. However, a short-term rebound may be on the horizon as the price has reached a key support zone around $550, which could trigger a temporary upward movement.
The chart indicates a potential bounce towards the resistance area around $578.63. If this level holds, it would provide a good opportunity for sellers to re-enter, possibly driving the price back down toward the channel's lower boundary.