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USDJPY Daily Analysis, Market still in consolidative rangeHello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ The USDJPY pair started this session with a Bullish move driving the price back to 110.08 from 109.74, The Bulls now are eyeing every move of the market waiting for the opportunity to push the price and close above the 110.00 levels for creating a support zone at that level that would be able to help the market back to the 111.00 level. If we applied the Elliot wave theory to the market we can see that the market is having its 3rd impulse wave right now which could be the move that drives the price above the 111,00 level. Different Scenarios for the market Scenario 1 : The price has reached the resistance zone from 109.92 - 110.08, The Bulls are trying to power up in the hope for a breakout of that zone where this could indicate a start for a next Bullish move that could lead the price near the 110.625 resistance like where the Bulls will test the Bears hoping to start a big bullish move that could lead the market back up to the 111,00 level. Scenario 2 : The price has reached the resistance zone from 109.92 - 110.08, The Bears are trying to take control back from the bulls in hope of driving the price back down, the battle is still going at that resistance zone, In case the Bears got control then we will see the price go down to the first support line at 109.750 where the bulls will have to defend for any hope to end this sideways move in their favor. Technical Indicators showing : 1) The market is above the 5 10 20 100 and 200 MA and EMA (Bullish sign), but still below the 50 day MA. 2) The RSI is at 52.31 showing Neutral signs but the market does seem to be gaining more strength. 3) The ADX is at 10,16 showing that the market is not in a trending state yet, With a positive crossover between DI+ (22,14) and DI- (20,11). Support & Resistance points : support Resistance 1) 109.75 1) 109.92 2) 109.59 2) 110.08 3) 109.19 3) 110.62 Fundamental point of view : A combination of supporting factors undermined the Japanese yen and assisted the USD/JPY pair to gain some positive traction for the second successive session on Monday. A goodish rebound in the equity markets dented demand for the traditional safe-haven JPY, which was further undermined by the worsening COVID-19 situation in Japan. Apart from this, weaker PMI prints out of Japan further acted as a headwind for the JPY. Japan PMI Manufacturing eased from 53.0 to 52.4 in August and the gauge for the services sector dropped sharply from 47.4 to 43.5, marking the worst reading in 15 months. This added to worries about the economic fallout from the continuous rise in COVID-19 cases. Bullish traders further took cues from a modest uptick in the US Treasury bond yields, tough the ongoing US dollar profit-taking slide might cap gains for the USD/JPY pair. The uncertainties tied to the COVID-19 situation might have forced investors to reassess the timing of the Fed's tapering, which, in turn, prompted some USD profit-taking. According to FXSTREET This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts and news for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
by GabiDahduh
Bitcoin still going. Uptrend intact.Posting from my phone today so not marking chart heavily. Not much has changed uptrend is still intact. —— Now people will want ‘experts’ to tell them, when is it overextended? I would say short of making new all time highs it is definitely not overextended. There are plenty of places where people might bail/take profits on the way up resulting in corrective behavior, which is exactly what we’ve seen so far. That is the story behind the picture of what we know and love called an uptrend, and it’s why price zig zags instead of traveling as the drone flies. Lots of political stuff happening surrounding crypto in the good ol United States. If I know my government they are just trying to figure out how much of the pie can they take and how much can they cripple the tech without killing it. Kind of like figuring out how many liters of blood does the human body need to survive. They will take exactly that amount, then they will help you through the recovery process, for a fee of course. God bless.
Long
by emehoke
2
$BAND/USDT 3h (Binance Futures) Ascending channel on support Band Protocol is showing several bullish continuation signs after breaking out of that triangle and the descending TL. We expect 50MA and 200MA to be retested before bouncing higher, let's not miss next dip! Current Price= 5.8682 Buy Entry = 5.8161 - 5.6661 Take Profit= 6.1170 | 6.3439 | 6.7494 Stop Loss= 5.4393 Risk/Reward= 1:1.25 | 1:2 | 1:3.34 Expected Profit= +19.65% | +31.50% | +53.58% Possible Loss= -15.78% Fib. Retracement= 0.5 | 0.786 | 1.272 Margin Leverage= 3x Estimated Gain-time= 1 week
Long
by TradingOn
2
INVH consolidating again before the next move higher?Recently INVH had an explosive break out from the $38 resistance. With tonnes of volume following even after the break. Now that volume is slowing down, it seems like INVH is in consolidation mode again. Will it give another leg higher? No one can be sure; but judging from the technical performance $39.50 seems to be support. Thoughts: * Volume is relatively calming down * Seems to be consolidating before the next move higher Trade idea: * Look for buying opportunities around the $39.40 to $39.50 area OR * Wait for a break and close above $40.20
NYSE:INVHLong
by HaseebKhan_90
ACC challenging 2019 highs with high volumeACC is currently challenging 2019 highs. July 20th 2021 printed a bullish engulfing candle and now volume is kicking in. Notes: * Earnings per share is expected to increase over the coming year. * Making new 52 week highs * Increasing volume coming in near resistance. Trade idea: * Look for a weekly close above $50.94 before entering * A rejection from $50.94 could send the price to $50.30. So, if you're looking for a discount that would be a nice place to enter. * Target for this would be the all time highs from 2016 of $54.43
ALong
by HaseebKhan_90
WMS poised for breakoutLooking at the weekly or even monthly charts you can see that the company is consistently doing really well. Give or take, WMS has been consolidating since the beginning of this year and is now positioning itself for a breakout. The breakout from $113.81 was one with a lot of buying pressure and shows demand for this company. However, I do think that WMS may come back to retest the $114 to $115.25 area before going for the breakout. Final notes: * Solid up trending stock * Ready for breakout given the buying pressure * If you want to get in early (before the breakout), look for buying opportunities around the $114 to $115.25 range * If you want to be conservative, wait for a break and close above the all-time-high of $117.89 * Great for long term hold as it gives dividends as well.
NYSE:WMSLong
by HaseebKhan_90
AMD looking to end year long consolidationAMD is looking to end its year long consolidation and look to new horizons. Thoughts: * Looking at the weekly or even monthly time frames you can see it's in a clear up trend * It'll have to brake and close above $94.28 before it can attempt to break through its all-time-highs. * Very high trading volume likely to push the price higher from here. Trade idea: * Judging by the price-action it seems like this may come back to retest the $87.40 area. * Look for buying opportunities around the $87.40 area. OR * Wait for a weekly confirmation (break and close) above $94.28
NASDAQ:AMDLong
by HaseebKhan_90
DXCM breaking out of 4 month consolidationDXCM has been in consolidation over the past year and within that it's been forming a smaller range since Feb of 2021. The smaller range has broken out with a lot of buying pressure and is now testing the broken resistance as support. Three things make this breakout significant. 1. It broke out with a lot of volume 2. It's retesting the broken resistance of $423.40 and is indicating that there's demand for this company at this level 3. It's also using the 10 EMA as support These confluences indicate that DXCM is positioned to go higher in the coming weeks and months. Looking at the weekly or even the monthly chart you can see that there's a clear up trend. Next stop is the all-time-highs at $456.23! Final Notes: * Clear long term up trend * Broke out of smaller range with a lot of buying pressure * Using multiple confluences to build a solid support.
NASDAQ:DXCMLong
by HaseebKhan_90
DONT PANIC SELL THE TREND IS STILL GOOD HDLE STRONG & WALK AWAY!Hello everyone!! If you look at the chart pattern we are still okay everyone this was not a planned sell off this was part of the pattern this sell off was coming regardless of SNL or not! IF you DID NOT SELL then please continue to HDLE strong and understand this was a healthy correction much needed before going to ATH if it would not have corrected and continued going up then the trend would have ended much much sooner!! HDLE strong and go to the moon but here is my analysis I expect to play out over the next day or 2 if we fall below the 61.8% key level then the trend is OVER and you should HDLE with caution of a bubble pop. THANK YOU everyone & as always be safe and trade safe! DO NOT TRADE LEVERAGE.
FTX:DOGEUSD
by PacMan1337
3
$ZEC/USDT 1D (Binance Futures) Ascending channel trendingZcash is surely up-trending and has shown much recovery power during last weeks. I guess a last leg down could still happen that's why I placed entries there. Let's swing it to a new yearly high then, if you are impatient better avoid that trade! Current Price= 247.15 Buy Entry = 211.72 - 196.80 Take Profit= 264.51 | 351.21 | 467.98 Stop Loss= 169.92 Risk/Reward= 1:1.75 | 1:4.28 | 1:7.68 Expected Profit= +29.50% | +71.94% | +129.11% Possible Loss= -16.81% Fib. Retracement= 0.786 | 1.272 | 1.764 Margin Leverage= 1x Estimated Gain-time= 3 months
Long
by TradingOn