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Trend Line Break

HYPE/USDT Technical Analysis (4H Chart)🔍 HYPE/USDT Technical Analysis (4H Chart) High Time Frame (Daily): Bullish Despite recent pullbacks, the overall trend remains bullish on the daily timeframe. However, current price action suggests a potential fakeout or legitimate breakdown, as we test key structural and volume-based supports. Short-Term Time Frame (4H): Bearish The 4-hour chart displays clear bearish pressure, confirmed by the Three Black Crows candlestick pattern. This signals sustained selling interest and supports the current downward move. 🧱 Key Zones Supply Zone: $41.7 – $45.9 Strong resistance marked by prior selling pressure and overlapping FVGs. Demand Zone: $24.4 – $26.3 Historical area of buying support, aligned with a low-volume node and an unfilled FVG. 📏 Fair Value Gaps (FVGs) Above Price: Four 4H FVGs act as upside inefficiencies, offering targets in a bullish recovery: ~$34.9 ~$36.6 ~$37.8 ~$40.0 (psychological level & POC cluster) Below Price: One major 4H FVG remains unfilled, directly above the demand zone. 📐 Fibonacci Analysis Price is testing the Golden Pocket (0.618–0.65) from the recent swing low to high. A clean break below this area (with confirmation) targets the unfilled FVG around $30, and potentially the demand zone ($24.4–$26.3). 📉 Volume Profile Insight Volume is clustered around $34–$37, indicating strong past market participation. Very low volume between $29–$30, creating a volume void — if price loses support at the FVG and golden pocket, it could rapidly drop into the demand zone. 🔻 OBV Analysis (Volume Momentum) OBV has broken below a larger rising wedge, confirming bearish divergence. A falling wedge is now forming within OBV. Break below this wedge: Confirms further price breakdown. Reclaim of the larger wedge trendline: Suggests potential bullish reversal. ✅ Trade Scenarios 🔺 Bullish Scenario Trigger: Bullish reversal pattern at the golden pocket (e.g., double bottom, falling wedge, inverse H&S) + OBV recovery. Entry: Upon confirmation around $32.5. Targets: $34.9 (FVG) $36.6 (FVG) $37.8 (FVG) $40.0 (psychological) Stop: Below $30 or recent swing low (tight below FVG). 🔻 Bearish Scenario Trigger : Confirmed breakdown of golden pocket & 4H FVG with OBV falling wedge breakdown. Entry : Below $32.5 with confirmation (e.g., retest or strong momentum candle). Targets: $30.0 (psychological level) $28.5 (FVG zone) $26.3 → $24.4 (Demand zone) Stop : Above golden pocket resistance (~$33.8–$34.2). 📝 Conclusion: The market is at a pivotal point. A confirmed break below $32.5 could accelerate selling due to the volume gap, while a strong bullish reaction from the golden pocket could drive a recovery toward $40. Always wait for confirmation before entering either scenario.
by King_BennyBag
6
GOLD → Consolidation within a falling wedgeFX:XAUUSD is consolidating. A major player is gathering a trading position inside a wedge ahead of distribution. But the main question is: in which direction? Gold lost ground again on Friday after mixed holiday trading on Thursday. Traders are waiting for new signals from the Fed and monitoring the situation in the Middle East. Interestingly, gold fell as the conflict escalated further (which is not logical overall). The dollar is in a global bearish trend, and traders are waiting for a decision from Powell (who is under pressure from Trump to cut rates). Technically, if we look at the wedge, we can see how difficult it is for the market to move. The price is stuck inside the consolidation. The intraday movement is very short, with long tails and a very weak reaction to both false breakouts and level break. Large players are building up positions inside the current channel. This may only hint at the possibility of future implementation (distribution). Resistance levels: 3360, 3396, 3420 Support levels: 3338, 3320, 3302 On D1 - H4, gold is in a countertrend (bullish trend) correction and is testing the trend support + 0.7 Fibo zone. Below, there are fairly strong areas of interest — 3320 and 3302 — which gold may test before rising. However, within the wedge, there is a fairly high probability of a breakout of resistance and the 3360 level, followed by a rally to the liquidity zone at 3396 Best regards, R. Linda!
FX:XAUUSDLong
by RLinda
14
GOLD → Continuation of the global trend... To 3350?FX:XAUUSD is testing trend support within a correction. Against a complex fundamental backdrop (the Middle East, Fed comments, Trump's desire to lower rates), the price may continue to rise. The price of gold rose from a weekly low of $3,363 on Thursday thanks to increased demand for safe-haven assets following reports of possible US strikes on Iran. Markets are ignoring the Fed's hawkish decision to maintain its tight policy and rate forecasts. Traders are waiting for new signals from the Middle East, given the risk of increased volatility due to low liquidity in connection with the US holiday. Technically, a bullish wedge pattern is forming as part of the correction. The breakdown of the pattern's support did not lead to a decline, but a return of prices and a breakout of resistance could trigger growth after liquidity returns. Resistance levels: 3373, 3403, 3420 Support levels: 3349, 3320 Before growth, a retest of the trend support or the 3350 zone is possible. However, if the price goes above 3375 and the bulls hold their ground above this level, then we can expect growth to continue within the trend. Best regards, R. Linda!
FX:XAUUSDLong
by RLinda
21
NXPCUSDT → The coin is being killed. Searching for a new bottomNXPCUSDT is testing the bottom at 1.1675 while Bitcoin and the top 10 cryptocurrencies are in a global/local bullish trend... NXPCUSDT is showing its weakness in the cryptocurrency market. There is no potential or driver for the coin, and it continues to be killed... Against the backdrop of a growing market and Bitcoin forming a bullish trend, the NXPC coin is testing the bottom... After a strong and long-term decline, the NXPC coin is forming a flat (consolidation) in the range of 1.5637 - 1.1675. A pre-breakdown base is forming relative to support, which could lead to the price breaking out of consolidation downwards... Resistance levels: 1.2532 Support levels: 1.1675 Focus on support for the range and bottom in the current coin at 1.1675. This is a risk zone and a panic zone. If the price breaks out of this consolidation, there are no obstacles below and the fall could be aggressive. A breakout of the consolidation support could trigger a continuation of the rally or a decline with the aim of forming a new bottom... Best regards, R. Linda!
Short
by RLinda
6
$FET 4Hr Time frame DUMP before PUMP? $1 Recovery!FET/USDT – 4H Time Frame Analysis Pattern Formation: A rounding top is clearly visible, suggesting weakening bullish momentum and potential trend reversal. Trend Structure: Price is forming lower highs and lower lows, confirming a bearish trend. Key Zones: Supply Zone: $0.85 – $0.975 Demand Zone: $0.35 – $0.45 Neckline Support: Price is approaching a critical neckline level. A break below this could trigger strong downside movement. Weekly FVG & Fib Confluence: Below the neckline lies a weekly Fair Value Gap (FVG). The 0.618 Fibonacci retracement aligns with this zone, forming a golden pocket — a key support area. Scenario 1 – Bullish Reversal: If price holds above the golden pocket, a bounce could push it back toward psychological levels (e.g., $0.70 and $0.80) Scenario 2 – Bearish Continuation: If price fails to hold the FVG/GP zone, this invalidates bullish setups. Expect a breakdown targeting the $0.35–$0.45 demand zone.
by King_BennyBag
2
GOLD → Consolidation. Awaiting the FOMC meetingFX:XAUUSD is consolidating in the range of 3403 - 3373. The problem is that there is news ahead. FOMC and interest rate meeting. The market may react in any unpredictable way... On Wednesday, the price of gold retreated from $3,400 as sentiment stabilized and investors focused on the upcoming Fed decision. Tensions in the Middle East remain high, but there is less panic in the markets. The Fed is expected to leave rates unchanged. The focus is on forecasts for rates, growth, and inflation. Dovish signals could support gold and weaken the dollar. If the Fed is more cautious due to oil and the conflict in the Middle East, the dollar could rise and gold could fall. Technical nuances are irrelevant in this case, as price behavior depends on the market's interpretation of fundamental factors. Resistance levels: 3403, 3420 Support levels: 3373, 3339 BUT! Technically, I would say that there is pressure from the bears. The price is compressing towards the support level of 3373. The market remains unbalanced in favor of buyers, and it is logical that market makers will be interested in testing the trend support zone or the 3339 level (due to the liquidity pool) before continuing to rise (gold may continue to rise both if rates are lowered and if they remain at the same level. However, the tone of the Fed will play a major role here) Best regards, R. Linda!
FX:XAUUSD
by RLinda
17
GOLD → Bear pressure. Area of interest: 3340–3306FX:XAUUSD continues to decline under pressure from sell-offs. However, the situation is interesting overall, as there is conflicting data and unexpected price behavior is surprising the market... On Tuesday, gold is trying to regain the $3,400 level after pulling back from highs, but it is still facing selling pressure and returning to $3,377. The market reaction to the $3,377 level is quite weak, and if the price starts to stick to support, this will lead to a further decline. The dollar is strengthening as a safe-haven currency, holding back gold's growth. The markets are focused on the outcome of the Fed and Bank of Japan meetings, as well as US retail sales data. Any dovish signals from the Fed could support gold and weaken the dollar. Technically, on D1, gold is returning below the 3382 level (selling zone) and testing 3377. The reaction to the false breakout of support is weak, and the price is forming a pre-breakdown consolidation relative to 3377. There are clear areas of interest that could lure the price before the news. For example, 3343, 3306, 3245. Resistance levels: 3382, 3403. Support levels: 3377, 3339, 3320 The bearish structure will be broken if the price strengthens to 3403 and consolidates above that level. This will reinforce buyers' expectations, which could lead to growth. At the moment, I would expect two scenarios: price consolidation within 3377-3403. But technically, the chart shows that there is bearish pressure in the market. The price continues to storm the support level of 3377, which may not hold up against another retest. A break 3377 could lead to a fall to the areas of interest at 3339-3306. Best regards, R. Linda!
FX:XAUUSDShort
by RLinda
21
GOLD → Hunting for liquidity before continued growthFX:XAUUSD has been correcting since the start of the session. The fundamental background is complicated due to the escalation of the conflict in the Middle East. The price of gold briefly retreated from a two-month high above $3,450 amid a recovery in the dollar and investor caution. Escalating tensions between Israel and Iran are dampening risk appetite, while markets await decisions from the Fed and the Bank of Japan. Expectations of a dovish Fed continue to support interest in gold, but fresh impetus is needed for further gains. Technically, the market is bullish. Gold is forming a correction to the key support and liquidity zone amid an uptrend. The price is within the range, and a retest of 3400 could trigger growth. Support levels: 3408, 3400 Resistance levels: 3446, 3500 A retest of support and liquidity capture amid the current challenging situation (high interest in the metal) and a bullish trend could support the price, allowing gold to continue its growth. Best regards, R. Linda!
FX:XAUUSDLong
by RLinda
30
BITCOIN → Buyback bar. Chance of growth to 108,000BINANCE:BTCUSDT is trading in a fairly wide range of 100,600 - 110,400. The market is stagnating due to fundamental uncertainty, but the risks of a decline are quite high... After the escalation of the conflict in the Middle East, Bitcoin broke the bullish structure on the market and managed to test the local level of 102500, from where a fairly aggressive phase of buying out the fall began within one trading session. The market is defending the structure quite aggressively. The chart shows a local range forming with strong levels at 102500 and 106200. Accordingly, the price may remain in this range for a long time (in which case an intraday trading strategy can be considered). However, if Bitcoin starts to stick to one of the boundaries, then we can consider the price leaving the range, but based on the structure of the uptrend, correction, and the formation of a buyback bar, it would be logical to see an attempt to break through resistance with the aim of continuing growth. Resistance levels: 106200, 108200, 110400 Support levels: 102500, 100600 On D1, there are no prerequisites for a strong decline. The market is buying up knives and trying to stay afloat (in consolidation). In the medium term, there may be an attempt to retest 102500 - 100600 due to the liquidity pool. But locally, the market may form an attempt to grow to 108200 Best regards, R. Linda!
Long
by RLinda
39
NZDUSD → Correction and liquidity capture ahead of growthFX:NZDUSD , following a sharp decline during the Pacific-Asian session, is testing the support of the upward trend and the liquidity zone... The dollar is correcting amid escalating tensions in the Middle East. This is a temporary move, and the market may return to its main trend. The currency pair is forming a false breakdown of support Against the backdrop of an uptrend and a weak dollar, the currency pair is testing support at 0.6000. The reaction is weak at the moment, but there is a chance for growth if the price consolidates above 0.6020. I do not rule out a retest of the liquidity zone at 0.5989 before growth Support levels: 0.6000, 0.5989 Resistance levels: 0.6068 The inability to continue falling and the formation of a local reversal structure relative to 0.6000 (price consolidation above 0.6020) may support the market. I do not rule out that the market may decline to the liquidity zone of 0.5989 before rising. Best regards, R. Linda!
Long
by RLinda
7
HYPE/USDT – 4H Chart Analysis PUMP TO $50??HYPE/USDT – 4H Chart Analysis Volume (OBV Indicator): The On-Balance Volume (OBV) has broken above its local resistance level, indicating a notable increase in bullish volume inflow. This supports the current upward momentum. Market Structure: High Time Frame (HTF): Still bullish. Lower Time Frame (LTF): Currently consolidating within a bullish pennant pattern. Price has recently closed just above the pennant’s resistance line, suggesting a potential breakout and continuation of the bullish trend. Key Zones & Levels: Supply Zone: Price is currently testing this zone. A successful hold and breakout above the previous swing high would confirm bullish continuation. Fair Value Gaps (FVGs): A small FVG exists just beneath current price between key support/resistance levels. This may act as a short-term magnet for price (potential retracement). Two larger FVGs on the 1D time frame lie below the current support and prior swing low. If price moves into these levels, it would likely be a liquidity sweep, trap, or fakeout scenario. Psychological Levels: $40.00 and $45.00 are the next logical upside targets if bullish momentum continues beyond the swing high. Trade Setup: Entry: At the 0.28 Fibonacci retracement level. Stop Loss: Just below the 0.5 Fibonacci level. Take Profit (Partial): At the 0.618 Fibonacci extension, aligning with a psychological resistance zone. Summary: The breakout from the bullish pennant, combined with increasing volume (OBV breakout), suggests strong bullish momentum. As long as price holds above the pennant and key support, continuation toward $40–$45 remains the probable scenario. Any dip into the lower FVGs would likely be a liquidity event rather than a trend reversal. (NOTE: This is not financial advice, it is recommended to always (DYOR) (Do Your Own Research)
Long
by King_BennyBag
1
XAUUSD – Swing Trade and Trend FollowingXAUUSD – Swing Trade and Trend Following Gold prices have been moving sideways, forming a consolidation range, and recently broke out to the upside last week. Currently, the price is pulling back to retest the bullish Fair Value Gap (FVG). If it can bounce from the 3400 support level, the next target would be the Range Volatile Week High around 3500. However, if the FVG fails to hold, the price may drop to the next support levels at 3350 and 3300. These are critical supports that should not be broken, as they also align with the ascending trendline (Up Trend Line). That said, this move is seen as a pullback for a potential continuation to the upside. Strategy: Buy the dip Wait for a reversal candlestick at the key support zones. The bullish outlook would be invalidated if the price breaks below 3250.
OANDA:XAUUSDLong
by CoachGoii_SuperTrader
USDCHF → Retesting resistance will lead to a declineFX:USDCHF , having failed to reach its global target after breaking through support, is turning back to retest the zone of interest at 0.8157. A fall in the dollar could trigger a decline in prices... After breaking through support and falling to 0.8055, a correction is forming towards the zone of interest and liquidity at 0.8157. After reaching the local target, the price may return to the global target (liquidity zone) at 0.8042. The dollar returned to its downward phase at the opening of the session, to which the forex market reacted accordingly. Most likely, bearish pressure may also affect the USDCHF currency pair, which continues to follow the downward trend. Resistance levels: 0.8157 Support levels: 0.8055, 0.8042 A retest of resistance amid high volatility could form a false breakout (liquidity capture) before the decline continues within the downtrend. Best regards, R. Linda!
Short
by RLinda
4
MGY: Technical Breakout + Fundamental Momentum = Quiet Winner?Magnolia Oil & Gas (MGY) is showing one of the cleanest technical breakouts in the energy sector — and the market hasn’t priced it in yet. After months of pressure, price has broken above both the 50-day and 200-day moving averages with rising volume, signaling a clear phase shift from distribution to accumulation. Recent candles confirm control shifting to the buyers, with a tight structure, rising lows, and bullish momentum building underneath resistance. The fundamentals back the technical setup. In the latest earnings report, MGY delivered a 9.7% revenue increase, $110M in free cash flow, and continues to pay dividends with low leverage. UBS upgraded the stock with a $29 target, which aligns precisely with the post-breakout projection. Operationally, the company is expanding in key U.S. basins like Eagle Ford, while seeing growing demand from Australia and Latin America. With oil prices pushing higher and geopolitical tensions rising, MGY stands out as a stable energy play in a volatile world. Holding above the $24.00–$24.30 zone keeps the breakout valid, with $29+ as a natural magnet for price. Most investors are still asleep on this name — but the structure is already telling a very different story.
NYSE:MGYLong
by TotoshkaTrades
15
Trendline Break Retests: The Setup Nobody Talks AboutHello, Traders! 😎 It’s one of crypto's most overlooked yet commonly recurring structures: the trendline break and retest. You’ve probably seen it without even realizing it. A clean trendline gets broken, price pulls away, and then, quietly, almost politely, comes back to “kiss” the line before taking off again. Or dropping. That’s the retest. And in the chaotic crypto world, where hype often drowns out structure, this simple behavior deserves more attention. 🔍 First, What Is a Trendline Really? A crypto trendline connects key highs or lows on a chart, not to predict the future, but to help visualize the mean price trendline: the market's directional bias. In rising markets, we draw support lines connecting higher lows. In falling markets, resistance lines link lower highs. Learning how to draw trendlines in crypto properly is a skill in itself. Use wicks or closes? Log scale or linear? Everyone has a method, but consistency is key. If you’re unsure, zoom out and let the chart speak first. But once that line is broken, something changes. 🧠 Why Breaks (Alone) Are Not Enough In theory, a break of the trendline means momentum has shifted. But in practice? Breaks happen all the time in crypto; many are fakeouts or short-lived. That’s where the trendline break and retest come in. It’s the market asking: “Are we done with this trend?” Retests often create the cleanest entries for trend continuation, not because they guarantee success, but because they offer structure. They provide a technical “moment of truth” when buyers or sellers show their true strength. And if the retest holds? The move that follows tends to be more confident and less noisy. 📐 Trendline Break & Retest: Mapping the Larger Structure Looking across the full BTC/USDT weekly chart, several major shifts can be framed through the lens of trendline crypto behavior, particularly the classic sequence of break → retest → continuation. 🔻 2021–2022: Macro Breakdown After the bull run to ~$69K in 2021, Bitcoin started forming a descending series of lower highs, which gave rise to a macro-level downward trendline — a key reference point for many traders at the time. 🔴 Upper Zone: Failed Retest Cluster The upper horizontal band (~$47K–$52K) highlights a zone where BTC repeatedly attempted to reclaim the broken structure. Each time the price rallied into this region, sellers stepped in, forming local highs and multiple failed retests (marked with red circles). This wasn’t just resistance — it was a battleground where buyers tried to flip the trend… and couldn’t. This behavior often signals a trendline break rejection, where the market tests the underside of prior structure, then resumes the existing trend. 🔴 Lower Zone: Breakdown and Retest That Held The lower zone (~$28K–$32K) was formerly a strong support area during mid-2021. Once it was broken in early 2022, the price returned to retest from below, failing to reclaim it, confirming it had turned into resistance. This is a textbook example of trendline retest turned supply, and after the failed reclaim, BTC slid further into the ~$16K range. ✂️ Late 2023: The Breakout In late 2023, BTC finally broke above the descending trendline, confirming a long-term shift in momentum. Importantly, this wasn’t just a clean breakout. The market returned shortly after to retest the broken trendline, around the $42K–46K range, forming a consolidation zone. 🟩 And Then Came the Retest from Above Let’s fast-forward to early 2024. After months of chop, Bitcoin finally breaks through that upper red zone (the same one that previously acted as resistance and rejection city). But here’s the part many miss: It didn’t just moon. It came back. Look closely at the green zone around ~$46K–$48K, the same area where BTC got rejected multiple times in 2021–2022. And now? Price pulls back, taps that level from above, and holds. That makes this zone so interesting: 👉 It’s a classic “retest from the other side”, where former resistance becomes support. The market is saying: “This level matters. Let’s make sure it holds before we go further.” It’s a quiet confirmation and a great example of how crypto trendlines and price memory shape behavior, even months or years later. 🪞 It’s Not Just About Lines — It’s About Psychology Why does this pattern repeat? Because breakouts are emotional. They create FOMO. Traders rush in. Then the market pauses, tests your conviction, and shakes out the impatient. Retests act like a filter. They flush out the noise — and confirm who’s really in control. That’s why drawing trendlines in crypto isn’t just about geometry. It’s about crowd behavior. When enough traders see the same line, and price respects it after the break, it becomes a self-fulfilling zone of interest. 🧭 A Word of Caution This isn’t a secret formula. Not every trendline crypto setup will play out cleanly. SOME BREAKS NEVER RETEST. SOME RETESTS FAKE YOU OUT. AND SOMETIMES, THE LINE YOU DREW ISN’T THE ONE THE MARKET IS ACTUALLY WATCHING. But if you learn to draw trendlines in crypto clearly, stay patient, and observe the trendline break retest behavior, you’ll begin to see this pattern appear again and again. Quietly. Consistently. It won’t make the headlines like “BTC Hits 100K,” but it might just tell the story behind that move. This is just one example. In reality, charts are full of these zones. Each one tells a part of the story. And honestly, why not listen?
Education
by WhiteBIT
GOLD → Strengthening and return to range. Focus on 3340FX:XAUUSD is forming a fairly strong support zone (a cascade within an upward line). The price is returning to the range, with bulls storming 3330-3340. Markets are awaiting US inflation data (CPI), which may affect expectations for a Fed rate cut in September (chances are about 52%). Optimism following progress in US-China trade talks is supporting sentiment, but uncertainty remains due to a court ruling allowing Trump to maintain tariffs. This is holding back the dollar and helping gold. CPI forecast: 0.2% growth, core inflation 0.3%. Lower inflation, on the other hand, will support expectations of lower rates and strengthen demand for gold as a safe-haven asset. Technically, gold is stuck between the boundaries of a symmetrical triangle. Overall, this situation is reflected in all markets. Consolidation is forming and the price could break out in either direction... Support levels: 3301, 3330, 3340 Resistance levels: 3349, 3361, 3375 Focus on the boundaries of the previous range - 3330 - 3340. If the bulls, after the assault, manage to hold their ground above this zone, the market may take the initiative due to support and continue its growth towards areas of interest. Best regards, R. Linda!
FX:XAUUSDLong
by RLinda
27
AUDUSD → Correction after a false breakout before growthFX:XAUUSD continues to rise amid uncertainty surrounding the dollar, which continues to consolidate. The currency pair is preparing to test resistance at 0.6537 The dollar is stuck in place due to market uncertainty. At the same time, the Australian dollar is strengthening and is ready to test the liquidity zone Within the current trend, the currency pair is heading towards resistance and the liquidity zone. We opened far away, and as we move towards the target, the potential for further growth may end. A false breakout of 0.6537 could trigger a correction Resistance levels: 0.6537 Support levels: 0.6509, 0.6479 A sharp move towards resistance without the possibility of further growth could cause a false breakout of 0.6537. Price consolidation below this level could trigger a correction before growth. Best regards, R. Linda!
Long
by RLinda
6
ETHEREUM → Consolidation amid a bull marketBINANCE:ETHUSD is consolidating in the range of 2400-2750, and locally, the coin looks quite promising even against the backdrop of Bitcoin forming a correction... ETH is forming a strong consolidation within which it confirms a bullish market structure. After a false breakout of resistance, there is no sharp decline and the price returns to retest resistance. If the bulls hold their defense above 2530-2550, then in the short and medium term, ETH may demonstrate growth towards the intermediate target. Resistance levels: 2738, 2855 Support levels: 2525, 2470, 2400 A retest of support at 2525 - 2470 is possible, and if the price holds above this support zone, ETH may try to surprise us. There are good chances for growth. Best regards, R. Linda!
Long
by RLinda
5
DXY Ready to Reload? Eyes on 99.100 as Tariff Tensions Ease!!Hey Traders, In tomorrow's trading session, we're closely monitoring the DXY for a potential buying opportunity around the 99.100 zone. After trending lower for a while, the dollar index has successfully broken out of its downtrend and is now entering a corrective phase. We’re watching the 99.100 support/resistance area closely, as it aligns with a key retracement level making it a strong candidate for a bullish reaction. On the fundamental side, Friday's NFP data came in slightly above expectations, which is typically USD-positive. In addition, recent Trump-led de-escalation in U.S.-China tariff tensions is another supportive factor for the dollar. Trade safe, Joe.
TVC:DXYLong
by JoeChampion
11
GBPUSD → Countertrend retest of support before growthFX:GBPUSD is forming a countertrend correction to the zone of interest and liquidity while the dollar is stagnating. The market is waiting for a fundamental driver. Within the uptrend, a countertrend correction is forming towards the liquidity zone at 1.342. Against this backdrop, the dollar is correcting and contracting towards support. The currency pair's price continues to decline, but within the uptrend, breaking the local structure but not the market character. The focus is on the current trading range of 1.342 - 1.359. A retest of support could bring the price back to resistance. Support levels: 1.3421, 1.339 Resistance levels: 1.3507, 1.3593 A quick retest of the liquidity zone at 1.3421, the inability of GBPUSD to continue falling, a false breakdown, and the price consolidating above 1.3421 would be a good indication that buyers are trying to hold the market. In this case, we could see the price strengthen. Best regards, R. Linda!
Long
by RLinda
1