Swing
SILVER Is Very Bearish! Short!
Please, check our technical outlook for SILVER.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 30.620.
The above observations make me that the market will inevitably achieve 29.279 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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SWING IDEA - PIDILITE INDUSTRIESPIDILITE INDUSTRIES looks good for a swing trade. This stock is a fundamentally strong and is now available at a discount as per technicals.
The Reasons are listed below :
Strong support at 2250-2300 levels.
Formed a strong bullish engulfing candle on weekly timeframe.
0.382 Fibonacci support.
Broke falling wedge pattern i.e a bullish sign.
Holding onto 2450 levels from last 2 weeks.
Target - 2735 // 2918
SL - 2300 on closing basis
CADJPY Is Very Bullish! Long!
Please, check our technical outlook for CADJPY.
Time Frame: 30m
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 115.742.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 116.299 level.
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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SILVER Will Go Down! Sell!
Please, check our technical outlook for SILVER.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 30.973.
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 29.002 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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USDCAD Will Go Lower From Resistance! Sell!
Please, check our technical outlook for USDCAD.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 1.362.
The above observations make me that the market will inevitably achieve 1.356 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
Like and subscribe and comment my ideas if you enjoy them!
NZDCAD: One More Bearish Wave Ahead?! 🇳🇿🇨🇦
NZDCAD is trading in a minor bearish trend on a daily.
A recent violation of the low and a formation of a new lower low
indicates the dominance of the sellers.
I think that the market has a nice potential to drop lower.
I believe that a correctional movement will complete soon
and the pair will drop to 0.826 support.
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DXY Is Going Up! Buy!
Here is our detailed technical review for DXY.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 104.518.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 105.142 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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BITCOIN Will Fall! Short!
Take a look at our analysis for BITCOIN.
Time Frame: 3h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 57,281.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 55,687 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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EURGBP Will Go Up From Support! Long!
Here is our detailed technical review for EURGBP.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 0.841.
Taking into consideration the structure & trend analysis, I believe that the market will reach 0.844 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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US500 Will Go Lower! Short!
Take a look at our analysis for US500.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 5,631.5.
Considering the today's price action, probabilities will be high to see a movement to 5,517.7.
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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SPX Will Go Down From Resistance! Short!
Here is our detailed technical review for SPX.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 5,572.70.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 5,289.89 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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EURUSD Will Move Lower! Short!
Here is our detailed technical review for EURUSD.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 1.084.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 1.077 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
Like and subscribe and comment my ideas if you enjoy them!
GBPUSD Is Bearish! Sell!
Take a look at our analysis for GBPUSD.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 1.286.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.280 level.
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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AUDCHF Will Go Higher From Support! Long!
Please, check our technical outlook for AUDCHF.
Time Frame: 3h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 0.605.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 0.606 level.
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.
Like and subscribe and comment my ideas if you enjoy them!
GOLD Is Going Up! Long!
Here is our detailed technical review for GOLD.
Time Frame: 3h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 2,372.941.
Taking into consideration the structure & trend analysis, I believe that the market will reach 2,390.660 level soon.
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.
Like and subscribe and comment my ideas if you enjoy them!