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IS BTC READY FOR NEW INCREASE TO 68KBitcoin seems the last day in a broken downtrend with here and there what stability. There are some important levels if BTC can hold them, we could see a new uptrend weekend, which weekends are known most of the time on their stability volume. The trend of now. BTC trying to find the right way to get out to new building volume, out of the playing trend. Can this weekend have a new change since we are by the key level that's exactly what we will follow if BTC can break the key level l of 65K with a high chance of 68K There is always a chance there will be manipulation volumes, it depends on building volume and that's hard to count. small changes can always be targeted, its BTC. For day traders, there change noting, since day traders trade depending on what the market shows, this can be short or long at any time. This is not trading advice, markets going on their way.
Long
by SatochiTrader
1
GBPUSD - Following The Trend 📉Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 GBPUSD has been overall bearish , trading within the falling channel in red. Currently, GBPUSD is approaching the upper bound of the channel acting as a non-horizontal resistance. Moreover, it is retesting a supply zone marked in green. 🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper red trendline and green supply zone. 📚 As per my trading style: As #GBPUSD approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
3
Market Direction using SPY historical trend patternsFrom a technical perspective, there hasn't been a definitive signal indicating a trend reversal for the SPY 500. Back in May to October 2023, the SPY exhibited a clear "M" pattern or double top, experiencing a drop of approximately 5%, retracing back, and then dropping around 10%, forming the M pattern. If we compare this M pattern with the current price action, we observe a striking resemblance in the market behavior, as the price retraces from a similar percentage drop of around 5%. The question arises: Is the market genuinely recovering, or are we merely witnessing the formation of another M-shaped pattern!
AMEX:SPY
by MESHANL
3
BTC DAILY UPDATE TIME FRAMEBTC NEW daily Time frame update. BTC seems to enter a new green time frame trend for the low time frame. This time frame expects shows for the low time frame green view for BTCUSD. This is not a long-term view but a low-time frame daily view which could change when the trend gains a new range. BTCUSDT changes with time frames UP and DOWN the key is to be consistent and to manage the risk for daily traders. There is no guarantee in the markets, in the end, the trend can go all sides. good study(system) and the right risk management give it an edge.
Long
by SatochiTrader
1
Technical Analysis: Bullish Outlook for USD/JPY Still ContinuesUSD/JPY is currently at multi-decade highs, closing at 155.00. Traders are exercising caution due to increased risks stemming from Japan's forex intervention. The recovery of the US dollar (USD) is bolstering the upward momentum of USD/JPY. From a technical standpoint, the pair is trading above the Simple Moving Averages (SMA), indicating a stable uptrend. However, there are signs of a corrective move, with prices expected to test the 0.5-0.618 Fibonacci retracement levels before resuming a strong upward trajectory
by Stephen_Anders
Downtrend and Short-Term Bullish Outlook for GoldThe price of gold experienced a modest decline towards the end of Tuesday's trading session in the U.S. after reaching a high of 2,334 USD. During the Asian trading session the following day, XAUUSD continued to drop to 2,323 USD, marking a decrease of 0.11%. Despite the weakening of the U.S. dollar following the release of weaker-than-expected U.S. PMI data, gold prices still couldn't sustain their upward momentum. This could be attributed to expectations regarding the Federal Reserve's potential interest rate cuts. From a technical standpoint, there are indications that gold may continue to trend downwards. On the 1-hour chart, the downward trend is supported by technical indicators. Gold prices are currently operating between the Simple Moving Averages SMA 20 and SMA 50, signaling short-term bullishness. Anticipated that prices will test the SMA 50 before potentially experiencing further significant declines.
OANDA:XAUUSD
by Stephen_Anders
9
Market Caution And Challenges EUR/USDThe EUR/USD market is stabilizing around the 1.0700 level after a positive day on Tuesday. However, PMI data from the US dampened the value of the US dollar that day, pushing up the EUR/USD price. At the beginning of Wednesday, the market showed more caution and supported the USD, posing challenges to the rise of EUR/USD. However, despite the market's caution, technical indicators like SMA and RSI indicate that the upward trend is still maintained. The Relative Strength Index (RSI) remains above 50, indicating the strength of the current upward trend. Expectations are for the EUR/USD to continue stabilizing and potentially increasing in the near future.
by Daisy_Anna
1
EUR/USD Holds Steady at 1.0700 Level with Positive IFO DataIn the European trading session on Wednesday, the EUR/USD pair continued to close steadily around the 1.0700 level. Positive sentiment from Germany's IFO psychological data helped stabilize the Euro. On the 4-hour chart, despite recent price declines, the Simple Moving Average SMA 20 remains above the SMA 50 after completing a bullish crossover on Tuesday. Additionally, the Relative Strength Index (RSI) consistently stays above 50.
by Stephen_Anders
Gold Price Today: Gold's Adjustment Signals In the Tuesday trading session in the U.S., Gold slipped as it dropped to the crucial support level of 2,300 USD, but quickly found stability thereafter. The recovery of gold prices coincided with the weakening of the U.S. dollar after the PMI data for the United States was announced weaker than expected. From a technical standpoint, looking at the chart, gold is showing signs of slight adjustment, especially as the SMA 20 is trending downwards compared to longer SMAs. It is anticipated that gold prices will adjust and retest the area near the 0.5-0.618 Fibonacci level before continuing its downward trajectory.
OANDA:XAUUSD
by Daisy_Anna
Technical Analysis: EUR/USD Shows Signs of Short-Term Recovery EUR/USD has experienced a significant momentum shift, surging above the 1.0650 level at the start of the European trading session. The short-term technical outlook for this currency pair indicates a gathering momentum for recovery. On the 4-hour chart, we observe the price closing above both the 20-period and 50-period Simple Moving Averages (SMAs), along with the Relative Strength Index (RSI) surpassing the 60 mark. This reflects a positive shift in the short-term outlook for EUR/USD. However, the price is still maintaining its downward trend, and sustaining above the SMAs may only represent a temporary phase. It is conceivable that the price will continue to test and trade below these SMA levels in the near future.
by Daisy_Anna
Gold Market Analysis: Gold Continues Downward Trend Gold extended its downward momentum at the start of Tuesday's Asian trading session, dropping to 2,300, down more than 2% from Monday. The decline seemed somewhat contained due to speculation that major central banks would cut interest rates later this year. From a technical standpoint, this sharp decline has brought gold prices to touch the simple moving averages (SMA), along with the Relative Strength Index (RSI) hovering around oversold territory, nearing the 28 mark. However, as the downward momentum of gold prices has reached a significant level, there are indications of a correction. It is anticipated that gold prices will continue to touch the SMA 20 level before witnessing a recovery from the sharp decline.
OANDA:XAUUSD
by Daisy_Anna
EUR/USD Hovers Near 1.0650 Amid Modest USD RecoveryEUR/USD remains near the low of around 1.0650 in the European trading session on Tuesday. The modest recovery of the US Dollar (USD) has driven EUR/USD to continue its downward trend. According to the analysis from the 4-hour chart, the downtrend of the EUR/USD currency pair seems to show signs of notable recovery. Anticipated that there will be a testing phase for the Simple Moving Average SMA 20 before resuming the downward trend. However, this also needs to be carefully considered in conjunction with the overall market conditions and other factors such as economic and political news impacting currency pairs. The uncertainty about the market direction can create a challenging trading environment, and investors need to evaluate and manage risks prudently in their investment decisions.
by Stephen_Anders
2
Gold Fluctuations and Upcoming TrendsThe gold market (XAU/USD) is facing strong selling pressure for the second consecutive day, dropping to near its lowest level in over two weeks, hovering around the $2,300 mark before entering the European trading session. Despite overnight attacks on US forces in the Middle East, investors remain optimistic, believing that the conflict between Iran and Israel will not escalate further. Furthermore, expectations that the Fed may postpone interest rate cuts have reduced demand for the yellow metal. From a technical perspective, looking at the chart reveals that gold is moving within a narrow range, indicating weak momentum from both sides. It is anticipated that gold will continue to decline as it breaks through this support level, potentially pushing prices even lower.
OANDA:XAUUSD
by Stephen_Anders
7