Lingrid | AUDNZD Bearish MARKET RangeOANDA:AUDNZD has bounced off the channel border after forming a consolidation box. Overall, the market is in a bearish trend on both the daily and 4H timeframes. Following the recent hit to the support level, the market has moved sideways, suggesting that we can expect the price to oscillate between the bottom and top of the established range. Given that the price has bounced off this level twice before, I believe there’s a good chance it will do so again. I expect the market to continue downward movement by breaking through the trendline and the key support level at 1.08500. If this level is broken convincingly, it could indicate a bearish momentum and potentially open the way for further lower level. My target is support level at 1.08200
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Lingrid | TONUSDT Buying OPORTUNITY on PullbackThe price perfectly fulfilled my last idea. OKX:TONUSDT formed a double bottom below the key level of 5.00 and has since bounced back, closing above it. However, recent price action appears to be losing momentum due to the presence of bearish divergence, which could indicate a potential pullback. Looking left at the chart, we can see that the price has been consolidating between the 5.0 and 6.0 price zones, creating a triangular formation. This suggests that the market may remain stuck in this range for some time. I expect the market to form a pullback towards the key support level, viewing the double bottom as a potential fake breakout. My target is resistance zone at 5.90
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New ATH looks imminent, but how will the break be?Yesterday's CPI report failed to provide a clear direction for Gold's mid-term movement. After initial volatility, during which the $2500 level held as support for the fourth time in two days, Gold once again closed the day near the middle of its range.
While we can't draw a definitive conclusion from the price action, it seems that the price is pressing towards the previous all-time high, and a new high appears imminent. In the short term, the outlook remains bullish as long as the $2500 level holds.
The key mid-term question is: What will the nature of the potential breakout be (if one occurs)? Given the more than one-month consolidation, we could see a strong breakout with upward acceleration.
However, the $2540 zone, which serves as resistance in the newly formed upward channel, poses a technical challenge. A failure to break above this level could see Gold retreat below $2500.
In conclusion: Short-term outlook remains bullish, but mid-term direction is still unclear.
NAS100 at a Crucial Juncture: What’s Next for the Index?In my previous NAS100 analysis, I mentioned that as long as 19,500 held as resistance, a drop to 17,000 was likely. Initially, the index did begin to fall, but it found strong support at the April all-time high (ATH) and reversed upward.
Now, the price is once again approaching this crucial resistance. Looking at the chart, we can clearly see the significance of this confluence, marked by the falling trend line, the horizontal level, and the retest of the broken channel support.
A break above this level would put NAS100 back on a bullish track, potentially targeting the previous ATH, with an extension toward 22,000 where the channel's resistance lies.
On the flip side, for bears to gain control, a bearish engulfing pattern needs to form today.
EUR/USD Faces Reversal After NFP: A Sell-on-Rallies StrategyAfter dropping near the 1.1 support level, EUR/USD began recovering its losses and successfully reclaimed the 1.11 resistance level. However, after testing the 1.1150 resistance (which previously acted as support during the top formation), the release of the Non-Farm Payrolls (NFP) data triggered a strong reversal, pushing the pair back below the 1.11 support level.
As of now, the price stands at 1.1080, and there is a high likelihood of further downside movement. In my view, selling on rallies presents the best strategy for this pair.
The first target is the support at 1.1, but as said, the pair could even drop to 1.0920 zone
XAU/USD Outlook: Short-Term Bullish but Downside Risks LoomAs previously explained, I believe XAU/USD is poised for a significant decline, and I indicated my sell zone between 2505 and 2510.
However, after the initial drop from this zone, Gold found strong support at the 2500 level, which led me to close my sell position.
Looking ahead, at this moment, the price seems well-bid and is steadily rising within a channel. Channels often signify the final leg of a move before a reversal, but confirmation is needed.
This confirmation would come from a drop below the established inflection zone around 2505 level.
If this happens, the 2475 zone will likely be exposed again, with a potential move further down to 2440.
Until then, in the short term, the price outlook remains bullish.
Short-term traders may look to buy on dips, anticipating a potential new all-time high following today's inflation data release.
Is the Yen Set for a Comeback? Analyzing EUR/JPY,GBP/JPY,CHF/JPYThe Japanese Yen (JPY) has been one of the weakest currencies in the past three years, with some pairs experiencing a significant 70-80% devaluation, particularly against CHF, EUR, and GBP (CHF/JPY, EUR/JPY, GBP/JPY).
However, since reaching a low in early July, the JPY has shown signs of reversing.
When looking at the JPY Index (see posted chart), we can observe that the price recently broke above the falling resistance line within its downward channel.
After initially stalling at resistance, as marked by a bearish Pin Bar, the subsequent fall lacked continuation and instead reversed upwards.
Currently, the JPY is on the verge of a significant breakout.
If this breakout occurs, the technical target for the next mid-term move is around 860, which would represent a potential 10% appreciation for the Yen.
Key JPY Crosses to Watch:
EUR/JPY:
After breaking out of its rising channel, EUR/JPY confirmed the breakout as valid and has begun a downward trajectory. Yesterday's strong bearish engulfing candlestick suggests that further downside is highly likely. A possible first target could be the 150 zone.
GBP/JPY:
GBP/JPY attempted to recover above its broken support but failed to hold those gains. Like EUR/JPY, GBP/JPY also printed a strong bearish engulfing pattern yesterday.
This suggests a lower high may now be in place, with potential downside targets around 178.50, followed by the 170 zone, which seems a strong possibility.
CHF/JPY:
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CHF/JPY has seen one of the largest devaluations of the Yen, amounting to almost 80%. The top in this pair was marked by a head & shoulders pattern, and the price is currently sitting at the neckline. A break below this level seems imminent, with 160 being a likely target. If the correction deepens, we could even see a move toward the 151 level.
Conclusion:
These are long-term predictions, and I anticipate these movements to materialize by the end of the year.
P.S: Stay updated on these charts as conditions evolve. These predictions are based on technical analysis and market patterns for long term, so monitoring changes is crucial.
Best Of Luck!
Mihai Iacob
XAU/USD Weekly Analysis: A Challenging Market AheadIt's been a challenging few weeks for XAU/USD traders, especially for those of us who prefer swing trading with larger targets.
As a directional trader, I usually aim for 400-500 pips per trade, but the recent market conditions have tested my strategy. With the total range being only around 600 pips over the past couple of weeks, volatility has been limited from my point of view, making it tough to find those big moves.
NFP Data and Gold’s Reaction:
On Friday, the NFP data came in at 143K, lower than the market's expectations. This weaker-than-expected jobs number suggests that the Federal Reserve could feel more comfortable cutting interest rates in the near future, as economic data softens.
Immediately after the release, gold initially rallied, touching a key resistance level at its previous all-time high. However, the bullish momentum didn't hold. Gold soon dropped after hitting this level, signaling significant resistance.
Key Levels and Market Sentiment:
As I’ve mentioned in previous analyses, the resistance zone that gold initially touched after the NFP release was critical for any continuation of the uptrend. Despite some initial volatility, the price fell below an interim support zone around 2505, and by the end of Friday's session, gold had dipped below the critical 2500 level.
Technical Outlook: Bearish Signs on the Horizon?
Looking at the daily chart, Friday's session closed with a bearish engulfing pattern, a strong bearish indicator. As I mentioned, it also closed below both the 2505 interim support and the 2500 key level.
Zooming out to the weekly chart, we see the formation of a doji pattern, a classic sign of market indecision and potential reversal. This topping formation aligns with the bearish sentiment seen in shorter timeframes.
Strategy for the Upcoming Week:
With these factors in mind, I stayed out of the market on Friday, believing we are at a critical juncture. Moving forward, I plan to look for sell opportunities on rallies.
The 2505 resistance zone, which previously acted as support, could offer ideal selling opportunities if gold retests this level. If the price continues to move lower and approaches the 2475 support zone, my expectation is that this level will eventually give way.
In fact, my target for the next significant move in gold is between 2430 and 2440, where I believe the next major support lies.
Conclusion:
As we move into next week, the key will be to watch how gold reacts at these critical resistance and support zones. If bearish momentum continues, we could see further downside. As always, I’ll provide an updated analysis once the market opens on Monday.
Stay tuned, and enjoy the weekend!
Mihai Iacob
XAU/USD Correction Nears End: Preparing for Further Downside?In my weekend analysis and yesterday’s video, I expressed the view that XAU/USD has turned bearish in the mid-term, with the potential for a drop below the 2475 support zone.
After initially pulling back to the NFP low, the price rebounded and returned to my sell zone between 2505-2510 (as previously explained). However, this recovery from 2485 seems more corrective and overlapping in nature, lacking strong momentum. After reaching a local high near 2507, the price began to roll over again.
Confirmation of a lower high and the end of this correction would come with a drop below 2500, which would once again expose the 2475 support zone. Additionally, a retest of this level could potentially lead to a break, bringing my mid-term target of 2440 into focus.
At this point, I maintain my bearish outlook on gold and for the short term 2475 is my target.
BTCUSDT Opportunity for a Drop from 60KBTCUSDT is trending downward toward the lower end of its consolidation zone. The market has been fluctuating between 52K and 72K since April. Now, it looks poised to retest the bottom of this range, especially after breaking and closing below the key psychological level at 60K. On the weekly timeframe, the price also broke and closed below the prior week's low, forming a significant bearish candle. This suggests that bearish momentum may continue. The target is the support level at 54,000
SOLUSDT Trend continuation tradeSOLUSDT has been ranging between the 140 and 160 levels, but it has recently broken and closed below this range. This indicates a shift in market dynamics. The market might be heading to retest the area where we observed a bullish impulse leg previously. The break below the upward trendline suggests that the price has entered a consolidating phase, which was signaled by the price being above the trendline and showing bullish momentum. Given this context, the market is expected to push a little further down towards a key round number, which could act as a psychological level of support. The target is support level at 120
DXY's Trend in Question: Support Holding, But Bulls need 102In my Friday analysis, I mentioned that if the DXY drops below the support zone, defined by the recent low and the year's starting price, we could expect further downside.
Initially, following the release of the NFP data, the price did decline, but it quickly reversed after reaching the support level, forming a strong bullish reversal candle with a long tail on the chart.
While we can't confirm a trend reversal yet and USD bulls are still not in out of the woods, as long as this support holds, there is a strong possibility of a move to the upside.
For a clearer medium-term outlook, we need a break above the 102 level.
If this happens, the path to 104 should open up, and we can expect the price to rise toward that zone.
Bitcoin's Price Struggles: A Bearish Short-Term OutlookAfter dipping to 50k in early August, Bitcoin staged a recovery and climbed to 65k. However, the bullish momentum lacked follow-through, as buyers were unable to push past the resistance of a large flag pattern that has kept Bitcoin in a corrective phase for months.
In the short term, Bitcoin’s price pulled back down from 65k, initially forming what looked like a falling wedge—a potential bullish reversal pattern.
Unfortunately, this formation did not hold, and Bitcoin experienced another breakdown.
Currently, the short-term outlook is bearish, with resistance around the 55,500-56k zone.
Short-term traders may consider selling in this range, targeting a move back to 50k if a new leg downward materializes.
This bearish scenario would be invalidated if the price stabilizes above the 58k level.
Ethereum could test 2k zoneAt the beginning of August, ETH/USD broke below the crucial $2,900 support level, accelerating to the downside and reaching a low of $2,300.
As expected, a recovery followed, with a retest of the broken level. However, despite two attempts by bulls to reclaim the newly formed resistance in August, both efforts failed, and the price subsequently rolled back down to the recent lows.
Currently, Ethereum seems to be pressing downward again, and a break below the $2,350 zone could trigger a further correction toward the $2,000 level.
I remain bearish as long as the price stays below $2,600.
SL Triggered, NFP Incoming: Will Gold Push to New Highs?Yesterday, I took a stop loss, which is, of course, a normal part of trading.
What’s ironic, though, is that overall, I’m bullish on Gold. Even more ironic is the fact that in my Monday analysis, I mentioned that Gold would likely test the 2480 zone before continuing its upward trend.
I even spotted the 'double Pin Bar formation' at the bottom, yet I remained short.
Ultimately, my ego and the desire 'to be right'—thinking Gold would dip to the 2450 zone before reversing—got the best of me.
Anyway, let’s move on to today’s analysis...
As I mentioned earlier, after Gold fell into the significant support area around 2480 on Tuesday, the price bounced back to the upside. The following day, despite another wave of selling pressure, the price reversed again, leaving behind a 'Double Pin Bar' formation on the chart.
Yesterday, the price broke above the 2505-2507 zone, which also confirmed a short-term double bottom formation. At the time of this article’s publication, the price stands at 2518, and the entire structure we’ve discussed is highly bullish.
Looking ahead, as long as the 2505 level holds, the chances for a new all-time high are very strong. The measured target, should 2530 be breached, is 2590.
Currently, I’m 'out of the market,' awaiting the NFP data for further clarification. I will update my analysis accordingly once the data is released.
EurUsd- Buy dips for 1.12 retestIn my last EUR/USD commentary, I mentioned that the pair could reach 1.11.
That target was not only met but exceeded, with a top at 1.12.
The pair is currently in a normal corrective phase, and once this correction ends, EUR/USD could resume its upward movement.
My strategy is to buy on dips near the 1.10 level, with the potential for a 1:3 risk-to-reward ratio depending on the stop-loss placement.
Shorter-term traders could also consider the 1.11 level as a point to take profits.
Gold possible up correctionXAUUSD continues its downward movement, closing below the 2500 level and confirming a break out of the consolidation zone. With this momentum, the market is likely to head to lower levels. Although the major trend remains bullish, this correction might find support around the 2450 level. If the market retests this area and shows rejection signs, like a bullish long-tailed bar, it could offer a good buying opportunity. A strong rebound from the 2450 support could pave the way for a continuation of the bullish trend toward the all-time highs. The target is the resistance zone at 2505
Gold- Stuck in a newly established range. Will support give awayYesterday, Gold once again touched the critical support zone between 2470-2475, and, as before, bulls managed to defend it, causing a price rebound.
While at first glance this support appears solid, I believe it will eventually give way, with the price likely dropping to at least 2450.
Of course, I could be wrong, which is why I’ve set my invalidation level in the 2515-2520 zone.
My swing trade strategy remains unchanged: sell into rallies.
AUDUSD potential Breakout and RetestAUDCAD has broken and closed below its consolidation zone and is currently testing the resistance level around 0.91200. It seems to be pulling back for a retest at this level. The market is showing lower lows and lower closes, signalling bearish dominance. A break-and-retest scenario is expected, where the price might pull back to test the resistance before potentially continuing downward. This is a key level to monitor, as holding here could confirm the continuation of the bearish trend. The target is the support level at 0.90775
Gold - What to expect in September?XAUUSD spent the week in a consolidation zone, trading back and forth without notable progress. The price tested resistance several times, but we didn't see higher highs or closes. On the weekly chart, two doji candles in a row suggest a breakout—above or below last week's range—could be near.
Based on price action alone, the market appears overextended, excluding fundamentals. Since March, only bullish months have been observed, with June neutral. A strong divergence on the weekly timeframe signals a possible pullback.
Reviewing September trends from the last five years shows a bearish tendency, even amid a broader bullish trend. This pattern hints at a deeper pullback toward the 50% retracement of the previous month’s range. Still, caution is needed after two neutral weekly candlesticks to avoid chasing the market.
Nas100- Lower top in place?In early August, the NAS100 broke below the support line of a channel that had kept the tech-heavy index elevated for nearly a year.
However, after reaching the horizontal support zone around the 17,000 level, the price quickly rebounded and returned to the key 20,000 area. Despite this recovery, the bulls couldn’t maintain momentum, and two days ago, the index once again dropped below the trendline.
These movements suggest signs of weakness, and a further correction may be on the horizon.
I’m looking to sell into rallies around the 19,200-19,300 zone, with a target at the recent low above 17,000.