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Technical-analysis

XAUUSD Technical Analysis 17.04.2023 1h chart– Previous Weekly candle closed Doji Bearish at 2004.300 leaving a Rejection wick at 2047.500, Friday Daily candle closed Strong Bearish forming Daily Resistance at 2040.700. – Buys on close above 2006.600 targeting 1h previous Support formed at 2013.700, Leaving Runners to the next 15min Support formed at 2022.100. – Sells on close below 1995.800 targeting 4h Support at 1989.500, Leaving Runners to the Daily previous Resistance formed on 31s March 2023 at 1980.700. – High Impact News ahead for the Empire State Manufacturing Index data 30min after the New York session opens.
OANDA:XAUUSD
by SalimFX20
XAUUSD Technical Analysis 10.04.2023 1h chart– Previous Weekly candle closed Bullish at 2007.900 above Weekly Resistance formed on Monday 20th March 2023 and forming new Weekly Support at 1969.200, Thursday Daily candle closed Bearish forming Daily Resistance at 2020.800. – Buys on close above 2012.600 targeting 4h Resistance at 2017.600, Leaving Runners to the Daily Resistance formed at 2020.800. – Sells on close below 2003.600 targeting 4h previous Resistance formed on 24th March 2023 at 1999.100, Leaving Runners to the Daily previous Resistance formed on 24th March 2023 at 1993.700. – As Daily candle closed Bearish forming Resistance and Weekly closing Bullish and forming Support there is a good probability for price to retest the 1990 area and form Support on the Daily allowing the new Weekly candle to form bottom wick before breaking the recent Highs.
OANDA:XAUUSD
by SalimFX20
C3.ai Stock - Quick Technical OverviewC3.ai Quick Overview The stock of the C3.ai Inc (NYSE: AI) company has been hitting the wires lately. It is a U.S. artificial intelligence enterprise, providing software-as-a-service application that enables deployment of enterprise-scale AI applications. Because of the recent increased popularity of Chat GPT, artificial intelligence became the hot topic among investors. This gave C3.ai stock a good boost, tripling the share price from the level where it was at the start of 2023. Although the performance is good, there are concerns that this recent rally might not be sustainable, as the company is still struggling to become profitable. Despite the attempts from the management to boost confidence among existing and potential investors, for now, the company is only expected to become profitable somewhere at the end of 2024. Another major issue for the company is constantly increasing competition from other tech giants such as Alphabet Inc. (GOOUSD on easyMarkets platform) and Microsoft Corp. (MSFUSD on easyMarkets platform). Microsoft is invested in the OpenAI company, which has the rights to Chat GPT, and Alphabet is set to launch its own version of A.I.-powered search engine. This makes C3.ai stock look attractive for now, however, there is doubt it may withstand the competition. From the technical perspective, the stock soared in the beginning of this week and until yesterday it was above the 30-dollar mark. Yesterday, the share price fell sharply, however managed to remain above all the EMAs on our daily chart. The price structure is still of higher highs and higher lows. If the broader stock market reverses its course to the downside, the stock might suffer greater losses. For stock trading, check out easyMarkets free guaranteed stop-loss and take-profit options. Disclaimer: easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
NYSE:AI
by easyMarkets
OIL - Potential start of move up?Fundamental Analysis Oil prices (WTI) extended its recovery, rising yesterday to their highest level in two weeks, just over $74, after advancing for a second consecutive session. After political disputes between Iraq, the semi-autonomous Kurdish region of Iraq, and Turkey halted the export of approximately 450,000 barrels of crude per day, gains were driven by disruptions in energy flow. Oil's upside in the near term could be bolstered despite rising headwinds for growth-linked commodities, such as the increasing likelihood of a U.S. recession, if flows are not restored quickly. Consequently, traders ought to watch out for improvements in the Center East, basically until territorial erosions start to ease. Technical Analysis The recent bounce back from $64 price area is empowering, however oil still bearish in the big picture especially after that big sell-off from early March, with prices well below the current major MAs. So, in the event of a bearish reversal, the $72 price will serve as initial support, followed by the $70 psychological price level. Selling interest could accelerate quickly if that last level is decisively removed, and heading down further to retest the $64 price area of that Lower Low. And, the $62 region (red line) could still be a target, as a subsequent pivotal support on further weakness pass the $64 price level. Now, on the other hand, if price keeps pushing up, the resistance would lie in TL at $76 price range. In an even of a Trendline BO scenario, buyers could gain strength to launch an offensive aiming for $81 price level, which corresponds to the 2022/23 sell-off. Additionally, this push could encounter rejection or some resistance from this region (not shown on chart) and would then range for a while as per an indecisive market. All that said, from a pure TA stand point, we believe there is a good chance that price will keep pushing up, so let’s see!
FX:USOILSPOTLong
by financialflagship
Breaking Down the GBPUSD PairThe GBPUSD cable pair hit our projected target at 1.24171 without first pull-back to the minor support identified around the 1.21007 price level. With a bearish close on the daily timeframe, the pair is likely to trade back to the first demand zone at 1.20975 to find the necessary support to move out of the trading range condition. The 50-SMA and 200-SMA can act as support levels for the price action. The resistance level or the supply zone playing out on the 4-hour chart with divergence signaling price reversal. If the price closes below the 1.22989 level, we can see it trading to the 1.21084 level. On the 1-hour chart, price forming a potential head and shoulder pattern. There is no high-impact news for the Great British pounds in the coming week that can result in high volatility, but the US dollar is likely to be volatile considering expected high-impact news.
by ClintOnos
My thoughts on USDZMWCurrently, the Zambian kwacha is facing several challenges that are impacting its value in the foreign exchange market. One of the main factors is the high inflation rate, which has been driven by a surge in food and fuel prices. In addition, the country's external debt has been on the rise, and this has led to a decline in investor confidence. These factors, combined with a slowdown in economic growth, have put pressure on the Kwacha's exchange rate. While it's difficult to predict the future movements of the currency, my technical view is that it could take another year before the Kwacha drops below K15 due to the technical factors at play.
by DalitsoTembo
1
reversal technical patterns overview part oneReversal Technical Patterns overview: Part One Reversal patterns are frequently spotted at the end of the bear/bull market cycles. Here are some of the key patterns with higher probabilities. Can be applied to any market, including forex, crypto, stocks, indices and metals. Double Bottom (Bulls) Double Top (Bears) 🔸A double bottom pattern is a classic technical analysis charting formation showing a major change in trend from a prior down move. The double bottom pattern looks like the letter W. 🔸The double top is a type of chart pattern that is an indication that the prevailing trend may reverse, in the short or long term. 🔸The double top is a common occurrence towards the end of a bullish market. The price formation looks like two peaks that occur after one another. 🔸The double bottom formation typically occurs at the end of a downward trending or declining market. 🔸 The double bottom is similar to the double top, but the key difference between the two can be seen in the inverse or negative relationship in price. Inverse Head and Shoulders (Bulls) Head and Shoulders (Bears) 🔸The inverse head and shoulders pattern begins with a downtrend. This is the extended move down that eventually leads to exhaustion and a reversal higher as sellers exit and buyers step up. That downtrend is met by minor support, which forms the first shoulder. As the market begins to move higher, it bounces off strong resistance and the downtrend resumes. This resistance level forms the neckline. 🔸Pattern is defined by the head / left shoulder / right shoulder and neckline. 🔸The H*S pattern is a bearish market pattern will appear near market tops. The first shoulder forms after a significant bullish period in the market when the price rises and then declines into a trough. The head is then formed when the price increases again, creating a high peak above the level of the first shoulder formation. From this point, the price falls and creates the second shoulder, which is usually similar in appearance to the first shoulder. 🔸The pattern is completed, giving a market reversal signal, when the price declines again, breaking below the neckline. The neckline, as depicted above, is the horizontal line that connects the first two troughs to one another. Three Drives (Bulls) Three Drives (Bears) 🔸The three-drive is a rare price pattern formed by three consecutive symmetrical drives up or down. In its bullish form, the market is making three final drives to a bottom before an uptrend forms. In a bearish three-drive, it is peaking before the bears take over. A three-drive contains two overlapping ABCD patterns. 🔸There are multiple ways of trading a Three drives pattern: You can trade the drive 3. Enter the market when you are sure that the market has formed the point B (buy in a bearish Three-Drive and sell in a bullish Three Drive). You can trade when the entire pattern is complete. 🔸Extensions are always based on fibs, most of the time 1.27 and 1.62. Falling Wedge (Bulls) Rising Wedge (Bears) 🔸The falling wedge pattern is interpreted as both a bullish continuation and bullish reversal pattern which gives rise to some confusion in the identification of the pattern. Both scenarios contain different market conditions which must be taken into consideration. 🔸The Falling Wedge in the downtrend indicates a reversal to an uptrend. It is formed when the prices are making Lower Highs and Lower Lows compared to the previous price movements. It gives traders opportunities to take buy positions in the market. 🔸The rising wedge in an uptrend indicates reversal to the downtrend. It is formed when the prices are making Higher Highs and Higher Lows compared to the previous price movements. It gives traders opportunities to take short positions in the market 🔸Generally, traders will wait for a breakout before executing a trade on buy/sell side. Also traders may chose to wait for a re-test of the breakout area before executing a trade.
OANDA:XAUUSDEducation
by ProjectSyndicate
20
easyMarkets Gold 4-hour - Quick Technical OverviewAfter a sharp decline on Tuesday, Gold is now balancing slightly above our 38,2% retracement on the Fibonacci. Given that we have the Fed rate announcement on Wednesday evening, we will take a cautious approach and wait for the decision first, before getting comfortable with either of the short-term directional moves. From the technical perspective, a break below the 1935 zone may invite a few more sellers into the game, possibly clearing the way towards the 1915 area, or even the 50,0% retracement. However, to get comfortable with the upside scenario, we prefer to take a conservative approach and wait for a move back above the 1960 hurdle first. This way, the path towards the psychological 2000 area could opened once again. Disclaimer: easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EASYMARKETS:XAUUSD
by easyMarkets
easyMarkets DXY Daily - Quick Technical OverviewLooking at the recent technical picture of the US Dollar index, we can see that from around the beginning of March, the index is trading within a falling wedge pattern. According to the Technical Analysis (TA) rules, such patterns tend to be bullish indications. However, in order to get comfortable with that idea, a break of the upper side of that formation would be needed. If that happens, more buyers could join in and possibly push DXY towards the 50-, 100-, or even the 200-day EMA. That said, as long as the upper side of the falling wedge remains intact, the trend could remain to the downside. Disclaimer: easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EASYMARKETS:USXUSD
by easyMarkets
easyMarkets USDCAD 4-hour - Quick Technical OverviewThe technical picture of USDCAD on our 4-hour chart shows that the pair is currently trading inside a descending triangle pattern. According to Technical Analysis rules, such patterns tend to break to the downside. For that, a confirmation break roughly below the 1.3650 zone would be needed. This way, a forthcoming lower low would be confirmed and more sellers may join in. We could then aim for our Downside Target 1 level, a break of which might set the stage for a move towards our Downside Target 2 level, which is the current lowest point of March. Alternatively, a break of the upper side of the aforementioned triangle pattern may signal a change in the direction of the short-term trend, potentially clearing the path to some higher areas. That's when we will consider our Upside Targets 1 and 2.
by easyMarkets