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EurUsd- Change of medium term trend?Two days ago, in a short-term analysis of FX:EURUSD , I mentioned that the 1.0790-1.0800 zone is pivotal for a potential reversal in the currency pair. The pair did break above that level and is currently consolidating above it. Now, I find myself wondering whether this marks a reversal in the medium-term trend or simply a correction from the year's selloff. Upon examining the weekly chart, the technicals suggest a potential longer-term reversal. As we are aware, the 1.0730 zone served as a support level. Upon piercing it twice, the pair reversed direction on each occasion, notably marked by pin bars. Additionally, the current reversal bears a striking resemblance to the reversal observed around 1.05 back in October. In conclusion, from a longer-term perspective, there appears to be a significant likelihood of a reversal for EUR/USD, with a target around 1.1, but perhaps more likely at 1.12.
Long
by Mihai_Iacob
1
XauUsd- A possible correction should be boughtAs outlined in yesterday's analysis, as long as the 2015 zone remains intact, the bullish outlook prevails in OANDA:XAUUSD , and we can anticipate a rise above Friday's high. Indeed, this scenario unfolded, and the price managed to climb to the 2030 zone. However, following an initial correction during yesterday's trading session, Gold failed to surpass the 2030 mark and began to decline once more. The structure on the hourly chart suggests the potential for a correction, but any potential drop should be viewed as a favorable opportunity to buy at better prices. With that said, my stance remains bullish as long as the 2010-2015 zone holds firm. In my view, declines towards that support range should be seen as buying opportunities.
OANDA:XAUUSDLong
by Mihai_Iacob
4
Ethereum- A probable 20% rise After reaching a peak above $2700 and experiencing a typical correction, BITSTAMP:ETHUSD performed well technically. It remained above the support levels between $2150-2200 and yesterday, it finally broke through the $2400 resistance. The current outlook for EthUsd is strongly bullish. As long as the price stays above the $2400 zone, we can anticipate a continuation of the upward trend with a target set at $3000. Moreover, such a trade would offer a risk-to-reward ratio of more than 1:3.
BITSTAMP:ETHUSDLong
by Mihai_Iacob
2
Solana Drop to 80 looks imminentA few weeks ago, I mentioned the possibility of BINANCE:SOLUSDT retracing to the 80 zone support level once more. However, Solana surged upward and triggering my stop loss in the process. Despite this turn of events, my perspective on the market remains unchanged, and I still anticipate a return to the 80 level. From a technical standpoint, the recent up move from 80 appears to be corrective rather than impulsive, with 120 emerging as a formidable resistance barrier. Confirmation of a potential downturn would materialize if the price dips back below 100 once more. I'm looking to sell again.
Short
by Mihai_Iacob
2
UsdJpy- Top in place?As you are aware, I've held a bullish outlook on FX:USDJPY and anticipated a rise from the 145.50-146 zone. My target of 150 has not only been met but surpassed. However, after peaking for the year at 150.87, the pair initiated a minor correction and started to consolidate. While we lack confirmation for a reversal at the moment, there are indications suggesting one might occur. Firstly, the 150-151 zone appears to be a region the Bank of Japan (BoJ) is determined to defend. Secondly, the reversal from the peak is an Evening Star candlestick pattern, commonly associated with reversals. Thirdly, as detailed in a DXY analysis from two days ago, the USD may encounter headwinds and begin to decline. As mentioned, confirmation is crucial, which would need a break below the 149.50-149 zone. In the event of such a break, the pair could potentially drop by 400 pips to the significant 145 level.
Short
by Mihai_Iacob
EurUsd could rise to 1.09Since the beginning of the year, FX:EURUSD has been in a downtrend, with the single currency dropping more than 400 pips in the past two months. However, after a false break below the horizontal support last week, the pair quickly reversed course and is now once again approaching the important 1.08 zone resistance. Taking into account the false break and yesterday's swift reversal from the well-established support at 1.0733, I anticipate an upward breakout with a target at the 1.09 zone resistance. In conclusion, my preferred strategy is to buy dips, with negation under 1.07.
Long
by Mihai_Iacob
3
XauUsd- Price prediction- 20 FebruaryIn my comment from yesterday, I emphasized the significance of the 2010-2015 zone as a crucial support level. As long as this level remains intact, the bulls maintain control of the market sentiment and price direction. Despite experiencing a trading session characterized by low liquidity due to a bank holiday, the price exhibited a perfect reversal from this critical support zone. At the time of writing, it is actively testing the very recent high. Should the price break through this resistance level, it could pave the way for further gains, potentially propelling it towards the already established classical zone at 2040. This breakout scenario suggests a potential uptrend continuation, with bullish momentum likely to strengthen in the near term.
OANDA:XAUUSDLong
by Mihai_Iacob
3
HBAR-Genuine break and 100% rise?BINANCE:HBARUSDT is a coin that I've been closely monitoring this year, awaiting a buy confirmation. As depicted on the chart, after experiencing a more than 90% drop from its peak, the price began consolidating and has now formed a clear resistance in the 0.10 zone. This significant resistance was finally breached yesterday, and if it proves to be genuine, we could anticipate a rise to the next resistance level, which is approximately at 0.2, indicating a potential 100% increase. Today, the price is undergoing a normal correction, presenting a potential buying opportunity. Considering a stop loss of around 0.085, such a trade would offer a risk-to-reward ratio of 1:4.
Long
by Mihai_Iacob
Nas100- Bulls should be very careful (2k P drop could be next)Since the low at 14k at the end of October, PEPPERSTONE:NAS100 has risen strongly, reaching a high at 18k. More importantly, this translates into a 30% increase, which is substantial within such a short time frame. Upon closer examination of this upward movement, we observe that it is contained within a rising wedge, which typically signals a reversal. Additionally, Friday's candle formed a bearish engulfing pattern, and yesterday we witnessed a break of the rising trend line. If we consider the divergences on MACD and RSI, the overall picture is far from bullish. In the short term, we notice the index resting on horizontal support, and a break here would provide the necessary confirmation of a temporary peak at 18k. In this scenario, a decline to 17k is highly probable, but in my opinion, this decline will extend to 15800k support. And, let's be honest, after a 30% increase, a 10% decline is not a tragedy; in fact, it is a normal market "adjustment."
PEPPERSTONE:NAS100Short
by Mihai_Iacob
3
Will XRP army finally see some sunshine?After experiencing an initial surge of around 50% alongside the broader crypto market back in November of last year, the price action of BITSTAMP:XRPUSD has been rather disappointing for the XRP Hodl army, characterized by a consistent pattern of lower highs. However, recently, following a new test of the 0.5 zone, the cryptocurrency has shown signs of life and begun to ascend. Currently, the price is flirting with a descending trend line, and although a clear upside break hasn't occurred yet, the likelihood of it happening is considerable. Should such a breakout occur, after enduring long-term frustration, the price could accelerate upward, with 0.75 serving as a potential target for those who aren't entertaining fantastical scenarios such as XRP reaching $10 USD or beyond.
BITSTAMP:XRPUSDLong
by Mihai_Iacob
1
DXY at an important crossroadsSince the beginning of the year, the USD Index has risen 5% from its lowest point to its peak. However, trading USD pairs has proven to be quite challenging due to the choppy price action and significant volatility between support and resistance levels. Upon analyzing the chart, the upward movement appears staggered and resembles a rising wedge pattern. This suggests that it may actually be a correction of the previous leg down from 107 to 100, indicating a potential impending decline. Confirmation for this hypothesis lies around the 103.80-104 zone. If the price breaks below this level, we should pay close attention to the next support levels, including 103, 102, and the crucial psychological and technical support at 100.
TVC:DXY
by Mihai_Iacob
ICP- My 22+ target should become in playAs you may recall from my previous posts, I hold a very bullish outlook on BINANCE:ICPUSDT and have elaborated on the reasons why. If the price manages to maintain itself above the $10 mark, the most probable scenario would involve a new upward movement towards the $20-22 resistance zone. Indeed, ICP reversed just below the $10 mark and began to establish higher lows in the weeks following the correction. As I mentioned in a post two days ago, CRYPTOCAP:TOTAL3 successfully broke (as anticipated) above $500B, providing confirmation for a new upward movement in altcoins. Technically speaking, in the case of ICP, we observe a clear support level at $10 and a sequence of three higher lows. Additionally, the price action in 2024 resembles that of a symmetrical triangle, a pattern that typically indicates an upward continuation. A break above the $13 zone would confirm the bullish scenario, with the target being the $20+ resistance zone. However, negation of this bullish outlook would occur with a break below the $11 zone. From a risk-to-reward perspective, such a trade could potentially offer more than a 1:4 risk-to-reward ratio.
Long
by Mihai_Iacob
2
Gold- 2010-1015 zone should be the ceilingIn my comment from yesterday, I mentioned that OANDA:XAUUSD could correct higher and surpass the $2,000 mark again. As anticipated, the price has risen and is currently encountering a significant confluence resistance point. My view remains consistent: I anticipate a new downward movement once this correction concludes. Therefore, my strategy is to sell rallies within the 2010-2015 zone, with a target set at the 1980 support area. I will reconsider this strategy if the price surpasses the 2030 mark once more.
OANDA:XAUUSDShort
by Mihai_Iacob
Gold could correct higher and drop again Two days ago, following a higher-than-expected CPI, OANDA:XAUUSD dropped to a fresh yearly low around the 1990 zone. Technically, the price fell from the 2030 zone, a median level that I have discussed in several analyses. With the support level broken, we can consider the beginning of a new bearish trend in the medium term. That being said, while a correction could occur, this rise should be viewed as a good opportunity to initiate short trades. The target could be the 1980 horizontal support level.
OANDA:XAUUSDShort
by Mihai_Iacob
3
GBPUSD → SELL| SETUP → Day Trading AnalysisHello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity GBPUSD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Short
by TheGrove
3
GOLD SELLDear ZTraders, High Inflation (Than expected) and a Weaker Dollar: High inflation erodes the purchasing power of a currency. When inflation is high, the real value of money decreases. Central banks often respond to high inflation by implementing measures to control it. These measures may include raising interest rates to reduce spending and cool down the economy. Higher interest rates can make the currency more attractive to investors seeking better returns. However, in the short term, higher interest rates can also slow down economic activity and reduce the demand for the currency. As a result, a higher interest rate environment, initially meant to strengthen the currency, can lead to concerns about economic growth. Investors may react by selling the currency, causing it to weaken. A weaker U.S. dollar makes gold less expensive for holders of other currencies. Gold is often seen as a hedge against currency depreciation, so during periods of a weakening dollar, there might be increased demand for gold. In summary: High Inflation: Can lead to measures such as higher interest rates to control inflation. Higher Interest Rates: Initially intended to strengthen the currency, but concerns about economic growth may lead to a weaker currency. Weaker Dollar: Makes gold more attractive to investors in other currencies, potentially creating buying pressure on gold.
OANDA:XAUUSDShort
by ZILATRADES
Gold- Bulls are holding strong As anticipated, XauUsd dropped below the 2020 mark yesterday. However, the price lacked continuation and rebounded from the 2012 zone, which is now serving as a support level. As of the current moment, the price of Gold has returned to its familiar range, hovering around 2025. Looking ahead, a break above 2030 would finally confirm that a low is in place and could potentially expose the 2065 resistance zone. This breakout would mark a significant shift in the market dynamics, potentially indicating further upward momentum for Gold. Traders should closely monitor price movements around these key levels for potential trading opportunities and trend developments.
OANDA:XAUUSDLong
by Mihai_Iacob
3
Gold- Break of support looks imminentOANDA:XAUUSD spent all of last week trading within a range between 2040 and 2020. As I explained in my analysis last Friday, as long as this range remains intact, we cannot determine a direction for the medium term. At the time of writing, the price is precisely on the support level. However, considering the price action from Friday and so far today, it seems likely that we will experience a downside break. If this occurs, my target is the important support level at 1980.
OANDA:XAUUSDShort
by Mihai_Iacob
5
Altcoins- New strong leg up?Since mid-October, Alts have shown significant upward momentum, experiencing an impressive average gain of approximately 70%. However, as their combined market cap soared above 500 billion dollars, a predictable correction ensued, with alts retracing around 20% of their gains. This correction stabilized around the 440 billion mark before initiating a bullish reversal. As of now, the current price hovers precisely at a short-term resistance level. A breakthrough above this critical horizontal and psychological threshold at 500 billion could catalyze a fresh upward surge in altcoin prices. The projected target stands at 620 billion, representing an average increase of 25%. Notably, certain alts are expected to outperform this average, with some potentially experiencing gains exceeding 100%.
CRYPTOCAP:TOTAL3Long
by Mihai_Iacob
2
EURUSD → Day Analysis | BUY SetupHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 GOOD LUCK! Great BUY opportunity EURUSD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
1
Gold- Important levels to watch for swing tradersIn yesterday's post, I mentioned that as long as the price of OANDA:XAUUSD remains below the recent high, I am bearish. Indeed, initially, the price dropped, reaching a local minimum in 2020, only to aggressively reverse and close the day back above 2030. This prompted me to close my short position at break even and adopt a wait-and-see attitude. As I write this post, the price is approximately around yesterday's closing value, and market conditions remain uncertain. Although I usually have a preferred scenario, at this moment, both the bullish and bearish scenarios are equally probable, and we have two reference levels to consider. Bearish scenario: A drop below yesterday's minimum opens the door to the yearly minimum and, in extension, towards the 1980 area, which represents an important technical support. Bullish scenario: A rise above 2040 opens the door to 2065, an important resistance level, and further towards 2080. As long as the price remains within the 2020-2040 range, the best thing for a swing trader is to stay out of the market.
OANDA:XAUUSD
by Mihai_Iacob
5