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Support and Resistance

AUDUSD InsightHello to all our subscribers! Please feel free to share your personal opinions in the comments. Don’t forget to boost and subscribe! Key Points - White House spokesperson Caroline Leavitt stated that China has not withdrawn its retaliatory tariffs. As a result, the previously announced 104% tariff on Chinese goods will take effect starting April 9. This has escalated tensions in the U.S.-China trade dispute and raised concerns globally. - Chinese Premier Li Qiang responded by firmly rejecting President Trump’s demand to lift the retaliatory tariffs, emphasizing that China possesses sufficient policy tools to completely offset the U.S. tariffs. - U.S. President Donald Trump revealed via Truth Social that he had a positive phone call with South Korea’s Acting President Han Duck-soo. He also mentioned that negotiations are ongoing with several other countries, suggesting that Trump’s reciprocal tariffs are being used as a bargaining tool. - Although Australia has been subject to a relatively low 10% reciprocal tariff, the 104% tariff on China is expected to further dampen China’s economy, which may also negatively impact Australia’s economic outlook. This Week's Key Economic Events + April 10: FOMC Meeting Minutes, U.S. March Consumer Price Index (CPI) + April 11: U.K. February GDP, Germany March CPI, U.S. March Producer Price Index (PPI) AUDUSD Chart Analysis As mentioned in the previous analysis, the pair showed a short-term upward movement but faced resistance and began to decline. Notably, it broke through the expected support level of 0.60000, indicating potential for further downside. The next support level is around 0.57000, and we continue to maintain a bearish outlook toward that range.
Short
by shawntime_academy
Gold’s Surge: New Highs, Key Resistance, and the Path to 2720Hello, XAU/USD has been on a strong upward trajectory, repeatedly reaching new all-time highs. Gold has just recorded its best quarter since 1986, solidifying its status as the ultimate safe haven amid economic uncertainty. Factors such as Trump’s trade war and the weakening U.S. dollar—on track for its worst year since the 2008 financial crisis—have further reinforced gold’s appeal as a reliable hedge. Currently, gold is testing a significant resistance zone. If this level holds, the price could move toward 2720, provided key conditions are met along the way. A strong early signal would be whether the price remains comfortably below the 1W PP, which could pave the way for movement toward the 1M PP. Should this level act as resistance, the path to 2720 becomes more likely. While such a scenario may seem unlikely under current market conditions, history has shown that when things appear strongest, declines often follow. Stay prepared, and good luck! The Support and Resistance outlined in green and red are the respective support/resistance for this pair currently for 1D-1Y timeframes! No Nonsense. Just Really Good Market Insights. Leave a Boost TradeWithTheTrend3344
OANDA:XAUUSDShort
by TradeWithTheTrend3344
XAUUSD Update: Bullish or Bearish? Key Levels to Watch! 🚨 Attention Traders! 🚨 XAUUSD is making waves and breaking through key levels! 🔥 The price is currently battling between 2980 and 2989 — will we see a breakout soon? Bearish Alert: A dip below this range could lead us to targets like 2860 and 2850. ⚠️ Bullish Opportunity: A move above 2989 could trigger buying opportunities, with targets around 3004 and 3027. 🚀 💬 Let’s Talk Strategy! What’s your take on this? Share your insights as we ride this golden wave together and unlock new opportunities! 💰
TVC:GOLD
by ANNA_EXPERT
Trading Plan for DXY Elliott Wave View: Large correction marked as Wave 4 in progress. Inside it, a (A)-(B)-(C) zigzag structure is unfolding. We’re currently in a sub-Wave B of C, expecting a short dip before a bullish move into the 104.80–105.60 supply zone (red box). Invalidation level sits at 108.247, confirming the correction is valid below that. 2. Price Levels & Zones: Strong support zone around 101.50–102.00, projected as a potential base for the next leg up (Wave C). Resistance (target) is clearly the red supply zone near 105. --- Correlation with EUR/USD Chart: If DXY is expected to rise in its Wave C, then EUR/USD should fall (as seen in your earlier chart). Your EUR/USD analysis targets the 1.06924 demand zone — this lines up perfectly with DXY's Wave C rise. --- Trading Plan for DXY (or correlation play): If trading DXY directly (if possible via CFDs): Buy setup: Wait for minor correction (Wave B) to bottom around 101.80–102.00. Entry: Near support with confirmation candle. Target: Red zone 104.80–105.60. SL: Below 101.50. For EUR/USD traders: Watch for EUR/USD Wave B to complete. Once DXY starts impulsing up (Wave C), EUR/USD will likely drop hard. That’s your sell opportunity on EUR/USD, aligned with DXY strength.
CAPITALCOM:DXY
by Greenfireforex
BITCOIN Downtrend Continues – Is $70K the Next Stop?COINBASE:BTCUSD continues to trade within a well-defined descending channel, maintaining a clear bearish market structure on the daily timeframe. After a strong rejection from the upper boundary of the channel, the price has retraced to a minor support zone around $78,000. Given the prevailing momentum and strength of the broader downtrend, this support is likely to break under continued selling pressure. A clean breakdown below this level would reinforce the bearish bias and open the door for a move toward the daily support zone near $70,000, which aligns with the lower boundary of the channel. This zone marks a potential area of interest where price may react or attempt a short-term bounce. However, unless there is a significant shift in momentum, the path of least resistance remains to the downside. Traders should watch for confirmation of the bearish continuation, such as lower highs, weak bullish pullbacks, or increased volume on red candles, before considering short entries. If you align with this outlook or have additional perspectives, feel free to share your thoughts below.
BITSTAMP:BTCUSDShort
by DanieIM
206
GBPCHF Wave Analysis – 8 April 2025- GBPCHF broke the support zone - Likely to fall to support level 1.0785 GBPCHF currency pair recently fell sharply through the support zone between the support levels 1.1000 and 1.1100. The breakout of this support zone was preceded by the breakout of the daily up channel from September. The breakout of these support levels accelerated the active intermediate impulse wave (3) from the start of August. Given the strongly bullish Swiss franc sentiment seen recently, GBPCHF currency pair can be expected to fall to the next support level 1.0785, the target price for the completion of the active intermediate impulse wave (3).
Short
by FxProGlobal
WTI Wave Analysis – 8 April 2025 - WTI broke the long-term support zone - Likely to fall to support level 55.00 WTI crude oil recently broke the long-term support zone set between the support levels 60.00 and 65.00. This support zone has stopped all downward corrections from the middle of 2021. The breakout of this support zone accelerated the active downward impulse wave 3, which belongs to the intermediate impulse wave (3) from the start of 2024. Given the strong downtrend seen on the weekly WTI charts, WTI crude oil can be expected to fall to the next support level 55.00, the target price for the completion of the active impulse wave (3).
FX_IDC:USDWTIShort
by FxProGlobal
1
United Postal Service | UPS | Long at $92.00The United Postal Service NYSE:UPS finally closed out the last remaining price gap on the daily chart (since 2020) and entered my "crash" simple moving average zone. With a P/E of 15x, earnings forecast growth of 8.12% per year, and a dividend over 6%, NYSE:UPS "may" be a good buy and hold through these tumultuous economic/trade war times. I wouldn't place a continued price drop near $75-$85 out of the question, but I'm not in the game of calling bottoms. At $92.00, NYSE:UPS is in a personal buy zone. Word of caution: if this stock really tanks due to trade issues and massive recession, $50s... Targets: $108.00 $120.00 $133.00
NYSE:UPSLong
by WorthlessViews
1
ALTCOINS | Alt Season | BUY ZONES1️⃣ATOM / BINANCE:ATOMUSDT Ideal buy zone is the lower area, unless it CLOSES daily candles above the upper area - then the bottom is likely in and chance for lower entry is slim 2️⃣ Litecoin LTC / BYBIT:LTCUSDT This likely means a longer wait until ideal entry points, weighted heavier towards the lower zones: 3️⃣ Fantom FTM / BITSTAMP:FTMUSD Seeing a trendline here that should be noted for a likely buy: 4️⃣ DOGE / BINANCE:DOGEUSDT DOGE price has not yet begun to trade UNDER moving averages in the weekly either, meaning the bearish cycle is still in early days: DOGE ideal entry for me would be for accumulation, long-term:
Long
by CryptoCheck-
ALTCOINS | ALT Season | Buy Zones PART 2💥 SUI / BINANCE:SUIUSDT SUI ideal buying points, weighing heavier towards the lower zone: 💥 SHIBA / BINANCE:SHIBUSDT SHIB ideal buying zone is approaching, but ideally the lower zone is the better buy: 💥 DOT / BINANCE:DOTUSDT Dot worries me for the reason that it has retraced nearly all the way to 2021 prices. Therefore I'll keep trades small, with modest TP zones. BUY zone for a swing, not accumulation: 💥 PEPE / BINANCE:PEPEUSDT PEPE buy zone seems far away, but considering how hard alts can drop in only a few days, I'd be ready with the orders, hanging heavier towards the lower zone: 💥 BINANCE / BINANCE:BNBUSDT BINANCE shows promising swings. Ideal BUY zones include: For the next cycle, in other words long term target, I'd watch the 1.618 at least: This would make it an accumulation buy. ________________
Long
by CryptoCheck-
Merck Wave Analysis – 8 April 2025- Merck broke strong support level 81.30 - Likely to fall to support level 75.00 Merck is under bearish pressure after breaking the strong support level 81.30 (the former monthly low from February, which stopped the earlier impulse wave 1). The breakout of the support level 81.30 should accelerate the active downward impulse wave v, which belongs to wave 2 of the higher order impulse wave (3) from December. Given the overriding daily downtrend, Merck can be expected to fall to the next support level 75.00, the target price for the completion of the active impulse wave v, coinciding with the daily down channel from December.
NYSE:MRKShort
by FxProGlobal
CADCHF Wave Analysis – 8 April 2025- CADCHF reversed from pivotal resistance level 0.6050 - Likely to fall to support level 0.5935 CADCHF currency pair recently reversed from the resistance zone between the pivotal resistance level 0.6050 (former monthly low from March) and the 50% Fibonacci correction of the downward impulse from the start of April. The downward reversal from resistance level 0.6050 continues the active impulse wave iii of the intermediate impulse wave (3) from the end of November. Given the clear daily downtrend and the strongly bullish Swiss franc sentiment seen today, CADCHF currency pair can be expected to fall to the next support level 0.5935.
Short
by FxProGlobal
EURGBP: Potential sell setup towards 0.8500?OANDA:EURGBP has reached a notable resistance level, an area that has been a clear turning point in the past, leading to some notable reversals. Given this, there is once again potential for a bearish reaction if price action confirms rejection, such as a bearish engulfing candle, long upper wicks or increased selling volume. If the resistance level holds, I anticipate a downward move toward 0.8500 , which for me is quite an achievable target now. But if the price breaks above this zone and sustains above it, the bearish outlook may be invalidated, leading to further upside. Just my take on support and resistance zones, not financial advice. Always confirm your setups and trade with solid risk management.
Short
by TrendDiva
29