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XRP General MovesRecent Price Movements and Potential Future Outlook XRP, also known as Ripple, has been in the news recently due to some positive developments, which have led to a price increase. However, the price of XRP has been volatile and has experienced significant fluctuations in the past few weeks. In this article, we will analyze the recent price movements of XRP and discuss its potential future outlook. Price Movements On March 31, 2023, the price of XRP reached a high of 0.588 USD, which was the highest it had been in several months. However, the price soon began to decline, and it currently sits around the 0.5 USD mark. This price decline can be attributed to several factors, including the overall market conditions, as well as concerns about the potential impact of Bitcoin's price movements. Support Levels Despite the recent price decline, there are some good support levels for XRP. The 0.5 USD mark is a significant support level, and it is possible that the price may bounce back from this level. Additionally, the 0.432 USD mark, which is where the rally started, could potentially be retested in the next few days. If this occurs, it may present an opportunity to buy XRP at a lower price. Future Outlook The future outlook for XRP is uncertain, and much will depend on the overall market conditions and the movements of other major cryptocurrencies, such as Bitcoin. If Bitcoin's price continues to decline, it is likely that XRP will also experience a price decline. However, if the market stabilizes and Bitcoin's price begins to increase again, XRP may also experience a price increase. Conclusion In conclusion, XRP has experienced significant price movements in the past few weeks, and its future outlook is uncertain. While there are some good support levels for XRP, it is important to be cautious when trading in these volatile market conditions. It may be worth waiting for further confirmation before buying XRP, especially if there are concerns about the potential impact of Bitcoin's price movements.
by Htback
USD vs CNY US Dollar vs Chinese Yuan Q1 Currency War Thoughts!The Background & Info: At the end of Q1 we have seen the usual crazy headline packed news cycle that we all have become accustomed to since 2020. Strange news, wars, meme realities and conspiracy vindication are now the new normal. You might have missed it in the news cycle, due to all the chaos, but the Chinese Yuan ( CNY ) has made some HUGE waves throughout the world by announcing the settlement of Saudi Arabia's purchase of gas from Russia. It appears that China is taking a page out of the USA playbook by being seen on the international stage trying to broker peace in a proxy war it appears to be funding in a foreign land, aggressively disrespecting nations borders with its airspace violations and spy equipment and, if all that was not enough of a copy cat move, they now have moved forward with courting Saudi Arabi into its BLOC countries that have agreed to swap their trade settlements from the USD to the CNY . It appears Long gone are the days of China shouting threats from the confines of the Forbidden City ( not Forbidden Garden ) walls. They now seem to be taking center world stage and with the Ukraine war and the Saudi Arabia agreement. This will allow them to continue their campaign of world influence peddling and open the doors of Europe to them as a proxy negotiator for Russian Oil & Gas as well as alternative trade settlement base, military assistance, and other one off trade alliances. Truly a wolf in sheep's clothing is now knocking on the doors of Eastern Europe. Europe is one of the few areas of the globe that China currently does not have a good foot in the door. In Africa and the Middle East they own the majority of rare earth mineral rights & mines, In Asia and America they control the tech and manufacturing sectors. Now they are taking on Global Policing and Influence that will lead them into Europe in 2024. Is this the END of the US Dollar being the currency of the world's economy? How is the Chinese Yuan stacking up against the US Dollar today? Well.... What does the Chart Say: My charts are telling me that historically the USD is a powerhouse and has had MANY moments of retracement while maintaining a VERY bullish uptrend. Support is EVERYWHERE for the USD and the world economy understands better than we the citizens do, that USA policy and leadership change every 4-8 years. The recent gains of the Chinese CNY BLOC should have crippled the USD but instead it merely dipped it back to the mid range of its upward bullish trading channel. SUMMARY: I would refuse to bet against the USD and I don't see any significant trading opportunities arising from this over the short term. However, if the Chinese continue to play the world police and peace broker on the world stage then other countries and other settlements will strengthen the BLOC alliance and that WILL have a noticeable effect on how the USDCNY trades. I would suspect that IF more significant trade partners join the BLOC and China continues its mature world stage presence, that the USDCNY would end up looking to trade between 5.5-6.25 this time in 2024. But if the USA gets back to world leadership, makes a strong presence felt on the world stage, then I would look for USDCNY to continue is current trading channel and its bullish uptrend. THIS is just me documenting my own thoughts on the matters at hand. Do your own Research.
Long
by TheStockMarketSniper
GOLD AND WORLD TENSIONS GOOD DAY FELLAS Gold, represented as XAU USD, is currently trading at 1980 USD. While many market participants expect gold to break its previous high of 2080 USD, there are diverging opinions on the future price direction of gold. In this analysis, we will explore the fundamental and technical factors that could influence the price of gold in the short and long term. Fundamentally, gold is seen as a safe haven asset, and its price is often influenced by geopolitical tensions and economic uncertainty. The US dollar is also an important factor in the price of gold, as they are inversely correlated. As the dollar weakens, gold becomes relatively cheaper for holders of other currencies, and demand for gold tends to increase. Conversely, when the dollar strengthens, the demand for gold weakens. Currently, tensions around the world are high, and there is economic uncertainty in various regions. The US dollar is also under pressure due to the increasing national debt and the ongoing tensions. These factors suggest that demand for gold could increase in the short term. However, I believe that the US will not allow markets to turn against the dollar, which could impact the price of gold. From a technical perspective, i believe that gold is currently undergoing a correction on the weekly time frame. This correction is targeting the downward support zone, which intersects with the golden ratio of Fibonacci at 1370-1500 USD dollars. This zone is seen as an attractive level to buy gold. Fibonacci ratios are often used by technical analysts to identify potential levels of support and resistance in financial markets. In summary, the current price of gold is 1980 USD, and there are diverging opinions on its future price direction. While geopolitical tensions and economic uncertainty could support the price of gold in the short term, the US dollar and government intervention in markets could limit its upside potential. From a technical perspective, gold is currently undergoing a correction, and a potential buying opportunity is seen at the support zone of 1370-1500 USD dollars A LIKE ON THIS POST WOULD HELP ME A LOT IF YOU PLEASE ,,
OANDA:XAUUSDShort
by Htback
3
bitcoin and world war 3Good Day Everyone It is understandable to feel cautious about investing and trading in the current geopolitical climate. There are indeed tensions between several countries, such as China and the USA, Israel and Iran, and Russia and NATO, among others. These conflicts could potentially escalate and lead to a full-scale world war. However, it is important to keep in mind that predicting the occurrence of a world war is complex and uncertain. While there are geopolitical risks, these do not necessarily mean that trading in decentralized assets like cryptocurrencies will inevitably result in the loss of all your money. Investments, including trading in cryptocurrencies, always involve risks. Risk management is an essential aspect of investing, and it is up to each individual to assess and manage their own risk tolerance. While the current global situation may warrant caution, it is important to remember that diversification is key to managing risk. Bitcoin, the world's largest cryptocurrency by market capitalization, has recently been trading at around 29,000 USD. This is a significant drop from its all-time high of nearly 65,000 USD in mid-April 2021. The volatility of Bitcoin and other cryptocurrencies is well-known, with prices often fluctuating wildly in response to a wide range of factors, from news events to regulatory changes and market sentiment. One major factor that is currently contributing to the uncertainty and volatility in the cryptocurrency market is the prospect of a potential world war. While the likelihood of such an event remains uncertain, there are certainly many geopolitical tensions and conflicts around the world that could potentially escalate into something more serious. In such a scenario, investors may be looking to reduce their exposure to high-risk assets like cryptocurrencies and move their money into safer, more stable investments. It is worth noting, however, that the decision to pull out of cryptocurrencies and other high-risk assets should not be taken lightly. While these investments can be volatile and risky, they can also offer potentially high returns for those who are willing to take on the risk. Moreover, there are many factors that can affect the price of cryptocurrencies, including government regulations, technological advancements, and changes in investor sentiment. Therefore, it is important for investors to carefully consider their options and assess the risks and rewards of different investment strategies. It may be wise to consult with a financial advisor or investment professional before making any major investment decisions. In the meantime, it is important to stay informed about the latest developments in the world and to monitor the situation closely. While there is no way to predict the future with certainty, having a solid understanding of the risks and opportunities in the market can help investors make informed decisions and navigate the ups and downs of the crypto market.
by Htback
S&P500 - Upside is over Hello traders! In previous posts we explained how we believed the last leg up from October's low in the SP to be a primary corrective wave (B) to the upside on overconfidence about the soft landing narrative and FED policies. You can see from this daily chart how low were volumes during this last period. We were expecting the target of this upside movement to be around 4300, but price seems to be failing before, reentering into the previous downtrendline (blue) from January's 2022 top. Either the impulsive movement to the downside is resumed and we are aiming at lower lows, or the primary (B) to the upside still has to conclude and we would be in a retracement before completing it higher. In any case, we believe more downside is coming and we are trading the Head and Shoulder showed in the chart (diagonal neckline), from @3940.1, targeting below 3700. We will update below. Happy trading! ;)
UShort
by GMR-Capital
3
The FED continues to imply a recessionYesterday, the FED hiked interest rates by 25 basis points, causing an initial rally in the U.S. stock market, followed by a selloff after FOMC’s press release. In his speech, Jerome Powell acknowledged the persistence of high inflation (replacing the tone of “easing inflation”), banking sector problems, and a strong labor market. Furthermore, he reiterated FED’s commitment to bringing the inflation rate back to 2%, adding that “some additional policy firming” may be required to achieve this goal (translating to the possibility of more rate hikes). As for projection materials, the median forecast for the unemployment rate in 2023 is 4.5% (and 4.6% in 2024). We discussed a few months ago that historically, each 1% increase in the unemployment rate was always accompanied by a recession. Therefore, considering that the unemployment rate was 3.4% in January 2023, we could argue that the FED implies a recession over the course of the current year (even though it has been implying it at least since September 2022 through its forecasts). In addition to that, the FED’s documents show a median forecast for FED’s fund rate at 5.1% in 2023, which is higher than the current target range of 4.75% to 5% (telling us that interest rates should be higher at some point). In our opinion, this means only more stress for the already weak U.S. economy. Due to that, we will stick to our previous assessment of more downside for the stock market in the coming months. Accordingly, we maintain our price target for SPX at $3 400. Illustration 1.01 Illustration 1.01 displays the 5-minute chart of ES1! continuous futures. Yellow arrows indicate particular events in the market. Vicious whipsaws in the price can be observed. Technical analysis Daily time frame = Bearish (Weak trend) Weekly time frame = Neutral Illustration 1.02 Illustration 1.02 shows the daily chart of SPX and the bullish breakout, followed by invalidation after Jerome Powell’s speech. We will pay close attention to today’s price action in SPX. To confirm a bearish bias, we would like to see the price stay below the sloping resistance (ideally, manifesting more weakness). Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
SP:SPXShort
by Tradersweekly
14
XAUUSD Technical Analysis 23.03.2023 1h chart– Previous Daily candle closed Bullish at 1970.100 forming new Daily Support at 1940.600. – Buys on close above 1974.500 targeting 4h Resistance at 1981.500, Leaving Runners to the Daily Resistance formed at 1988.500. – Sells on close below 1961.000 targeting 1h previous Resistance formed at 1953.500, Leaving Runners to the 1h Support at 1946.200. – We have High Impact News data ahead on the New York session with Unemployment Claims and New Home Sales
OANDA:XAUUSD
by SalimFX20
UNG - Natural Gas ETF - Potential Double Bottom Support PlayUNG (US Natural Gas ETF) has formed a double-bottom price pattern on the Daily chart. The Price has found temporary support above $8.21. Support Price Targets are: $8.21, $8.16, $7.72, $6.11. Resistance Price Targets are: $8.99, $9.93, $10.97, $11.97. UNG etf does not always correlate & follow technical analysis charts. Be aware of global fundamental news changes regarding energy assets (government policies, corporate policies, supply & demand, etc).
AMEX:UNG
by NoFomoCharts
S&P500 - When will the upside finish?From a while we have been following the idea of SP500 following a double zigzag to the upside targeting 4300+. We believe this upside to be temporary as per the structure of the downside leg from January's top and the low volume of the recent upside. In this previous post we outlined the idea of the last C wave of the second zigzag to be about to start, and a possible microcount is showed in the main chart. The microstructure of the last bounce suggest it to be the beginning of another leg up (5-wave). We will therefore search for another long entry in micro wave ii, ideally with a retest of the greenzone. A breach of 3900 will suggest the bearish scenario and the possibility of the primary wave (B) to the upside to already be finished. We will update below. Happy trading!
U
by GMR-Capital
S&P 500- In the target boxHello traders! As per previous posts, we believe the SP500 to be in a primary wave (B) to the upside correcting the donwtrend from January's 2022 top. Here is the count on the daily time frame: Price action shows this primary wave (B) unfolding as a double zig-zag. The structure of the last decline from 4194 seems a 3-3-5 that would complete wave B of the last zig-zag, thus providing a setup for trading the last leg up of primary (B) to 4300+. From a pattern perspective, we can see the bearish wolfe wave target at the main downtrendline in blue. Will search from long setups lower in the green target box and will update below. Happy trading! GMR
U
by GMR-Capital
2
A brief history of DXY and the RSIThere are just some of the Key points on the chart but the real trick is to watch the RSI here ( the blue line above the US inflation index at bottom of chart) The US inflation indicator shows RED after 1995, when inflation is above the 2% dictated by the FED as Good. Inflation peaks are marked on chart with thin solid vertical lines. Compre these to RSI and PA levels The USA was in an inflation explosion from 1979 to 1984 and it reached a height of 14% before turning down The Thing to note here is the value of the $, as inflation rises, so does the value of the $, logically I suppose. As inflation is fought with higher interest rates ,the $ becomes a money earner, for the banking industry and savers Look at the RSI, See how it rises, Ranges and then eventually dips Then RSI Ranges, as does the $ till we get to July 1995 and the Barings banks Saga. This was a banking collapse and yet, Look. the $ GAINS value and RSI drives higher, Tops out and Drops, Then again in 2008, another banking crash, this time Leman Brothers cause a Loan repayment Surge, bit like a bank run Again, at a time of Stress, the $ Pushes up in value, RSI Runs high and Tops Since then, RSI has remained mid / high and topped out again in July 2022 Since then, it has retraced and has recently tried turning again But now, the $ has less demand globally as Countries around the world Stop using the $ as international trading currency, including Oil So the question is, Where for the $ now Technically, It has been up in the higher range RSI for a long time, inflation is High and as we can see from the past, PA tends to drop
TVC:DXY
by Orriginal