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Injective- Good buy for 50% riseBack in winter, when everyone was super bullish and the hype around some coins, particularly INJ, was incredible, I predicted that the coin could drop to 20. Indeed, since then, INJ/USDT has dipped into that zone several times and even fell below 20 recently. Although I don't see INJ reaching 100 or achieving the lofty multipliers that some people dream of when trading crypto, I believe this is a good opportunity for a buy trade with a potential 50% gain. Technically, the 20 zone is now a very strong support level and also coincides with an old congestion zone, which should provide additional support. In conclusion, I'm looking to buy around 20, and by setting a stop loss just below the recent spike down, a risk-to-reward ratio of more than 1:2 could be achieved with this trade.
Long
by Mihai_Iacob
9
EurUsd- Rise to 1.11 this summerRecently, EUR/USD found support and formed a strong base just below the familiar 1.07 level. The pair began to rise and has been in a consolidation phase since Friday's Non-Farm Payroll (NFP) report. However, the pair is currently testing Friday's high, and a breakout seems imminent. If this occurs, we could see an acceleration to the upside, with my medium-term target at 1.11. Interim resistance is at 1.1, and to be honest, the highs from mid-May to early June are not expected to pose much trouble for the bulls and should be broken easily.
Long
by Mihai_Iacob
1
Silver Forecast: A Potential 10,000 Pip Surge on the Horizon!I understand the title may seem bombastic and possibly clickbaity, but in my view, there's a solid case for OANDA:XAGUSD potentially rising by $10 in 2024. Here's why: Observing the chart, unlike OANDA:XAUUSD , Silver has been trading within a range for precisely a year now, failing to establish new highs. However, on a positive note, since the pandemic low, the price has been forming higher and higher bases, suggesting the potential for building upside momentum in the longer term. From a strictly technical standpoint, as mentioned, we've been stuck in a range for over a year, with a clear resistance level around the $26 zone. If the bulls manage to break above this significant level, considering the one-year-long accumulation, I believe we could witness an explosive rise that might propel Silver to $35, with a potential pit stop at interim resistance around $30.
OANDA:XAGUSDLong
by Mihai_Iacob
12
Bitcoin- Major false break and back to 70k after?Last week, Bitcoin broke below the important 60k support level, which coincides with the neckline of a double top. However, after an initial drop to the 53k zone, the price quickly recovered, forming a daily pin bar and leaving a double bottom on short-term time frames. Now, Bitcoin is back in the broken support level zone. Considering the quick recovery, in my opinion, this will prove to be a false break, not a test and continuation downwards. I am looking to buy dips against the recent low with a target around 70k.
BITSTAMP:BTCUSDLong
by Mihai_Iacob
2
GbpNzd could rise and test 2.12 resistance (1:3 R:R)Since the beginning of the year, GBP/NZD has been on an upward trajectory, making higher lows and higher highs on the daily chart. Last week, the pair briefly dropped below support, but this was a false break, strongly reversed by Friday's price action. Currently, a new higher low seems to be forming. In my opinion, the pair will continue its upward movement and test the previous high around 2.12. My strategy is to buy on dips against the recent low, aiming for a 1:3 risk-to-reward ratio.
Long
by Mihai_Iacob
3
XauUsd and my bearish scenariosDespite recent fluctuations, my medium-term bearish outlook on gold remains firm. Last Friday’s NFP report caused a spike that hit my stop loss at 2390, leading me to temporarily exit the market. My Scenarios: Rise and Sell: Gold may rise to test 2400 or higher. If it shows weakness at this level, I'll look for a selling opportunity, targeting a drop back to the support level(around 2300) Consolidation and Drop: If gold fails to break above the recent high, I expect a drop to support (2300), marking this new high a strong ceiling level. Daily Time Frame: On the daily chart, yesterday’s drop negated the NFP rise, reinforcing my bearish outlook. If gold rises again above 2400, in my opinion it’s unlikely to hold gains, also suggesting a continuation downward.
OANDA:XAUUSDShort
by Mihai_Iacob
6