SBUX SHORT PROJECTIONSBUX Premarket Falls and here we expect a downside momentum towards the support highlighted.
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BTCUSDT SHORT PROJECTIONBitcoin has created a bearish breakout on this flag formed. More chances of seeing a downside momentum ahead.
GBPJPY NEXT PROJECTIONGBPJPY created a flag that essentially requires a breakout confirmation to spot the next direction heading.
NAS100 SHORT PROJECTIONNAS100 Index 1 hour breakout identified. Expecting a further downside momentum here.
SOLUSDT SHORT PROJECTIONIt appears that the SOLUSDT pair has encountered a significant resistance level, with substantial selling activity occurring around this marked zone. The price action seems to respect this particular resistance area. Moreover, there has been a breakout of the current bullish trend, which was formed after the initial rejection and failure to breach the resistance.
Considering the market conditions observed so far, it is likely that we can anticipate a further decline in prices.
NZDCHF LONG PROJECTIONNZDCHF has formed an accumulation pattern, indicating a potential bullish breakout at the resistance level. Traders are eagerly awaiting the possibility of a rally towards the upside, targeting the recent swing high observed in this currency pair.
GBPJPY NEXT PROJECTIONGBPJPY has recently experienced a bearish breakout from the consolidation pattern. However, this breakout is perceived as a fake one, likely influenced by fundamental factors. As a result, we are currently waiting for a clear and definitive confirmation of the breakout to determine the next direction of the market.
CADCHF LONG PROJECTIONCADCHF has recently formed a double bottom pattern, and for a bullish breakout to be confirmed, it needs to surpass a key level. This breakout is crucial to anticipate a continuation of the upward rally. Additionally, a significant buy back was observed at the major support level, indicating robust bullish activity at the bottom.
XMR SHORT PROJECTIONXMR is currently experiencing a sideways price action, with a notable strong resistance capping its price movement, preventing it from surpassing the $170 level on the daily timeframe. In light of this, we anticipate a downside momentum to act as a correction leg for the previous bullish trend. Simultaneously, we are closely observing for a potential bearish breakout to occur on the support within this market structure.
ETHUSDT NEXT PROJECTIONCurrently, ETH is trading within a sideways market, and there hasn't been any confirmed breakout yet to determine its next direction. The price is confined within the range of $1980 and $1825, with these levels serving as crucial resistance and support points, respectively, effectively controlling its movement.
BTCUSDT SHORT PROJECTIONBTC has been experiencing a sideways trend for over a month now. However, this week, there was a breakout followed by a pullback, which resulted in the formation of daily support. Despite this development, the overall market structure and the previous price failures at the significant resistance level of FWB:31K lead us to anticipate a downside momentum going forward.
NAS100 NEXT PROJECTIONUnder the hourly timeframe, NAS100 is currently displaying a robust bullish trend alongside a period of sideways price action. Traders are patiently observing the market for a clear confirmation of a breakout from this sideways pattern. Once confirmed, they will be able to determine the potential direction the price may take next.
DXY LONG PROJECTIONThe DXY (Dollar Index) recently experienced a false breakout below the daily support level. However, the price quickly reversed and re-entered the support area, signaling a potential accumulation of buying pressure. As a result, there has been a retracement back towards the buying zone. Anticipating a bullish scenario, we expect the DXY to rally upwards, targeting the formation of a trend line.
DISNEY LONG PROJECTIONDisney has formed a bullish triangle pattern indicating a potential upward rally, with a clear confirmation of a breakout. The pattern is supported by a consistent and robust level at the bottom, where strong buying activity occurs whenever the price revisits this zone.
PEPEUSDT SHORT PROJECTIONAfter consolidating for a period, PEPE's price has now broken below the support level. This breach suggests that there could be additional downward momentum in the near future, potentially leading towards the next support level. Additionally, on the 4-hour timeframe, there is a prominent double tops pattern observed over a strong resistance area. This pattern further reinforces the likelihood of a bearish movement in the market. Traders and investors should be cautious of the current situation and be prepared for potential further declines in PEPE's price.
XAUUSD SHORT PROJECTIONAfter confirming a bearish breakout on the trend line in both the hourly and daily timeframes, it's evident that a bearish price momentum has taken control. Furthermore, the recent price action has provided a strong confirmation of a bearish breakout on the support of a bearish flag that formed following a period of sideways movement. As a result, we anticipate gold to continue its bearish trend, with a possibility of minor pullbacks, ultimately heading towards the highlighted major support level.
ETHUSDT SHORT PROJECTIONEthereum is moving on a bearish trend followed by a recent impulsive wave. Here we expect a revisit back towards the highlighted support zone.
AUDUSD SHORT PROJECTIONThe AUDUSD pair is currently exhibiting a bearish trend on the hourly timeframe. There are indications that it might retrace back to the bottom trend line, where it could find support and potentially trigger a price bounce towards the resistance area.
AUDCAD LONG PROJECTIONOn the hourly timeframe, AUDCAD is displaying a bullish trend. The price has recently retraced towards the trend line, where it has found support through favorable price action. As a result, we anticipate the currency pair to rebound upwards, heading towards its most recent swing high.
Binance coin shows an ascending triangle Currently, on the daily timeframe, BNB exhibits an ascending triangle pattern. The market participants are awaiting confirmation of a potential breakout to determine the coin's next likely direction. The expectation is for a bearish breakout to occur, but in the event that BNB surpasses the resistance level, a bullish trend towards higher prices is anticipated. Traders are closely monitoring the price action to make informed decisions based on the breakout's confirmation.
AVAX Downward shift expected to retest the daily swing lowAVAX confirmed a bearish breakout on the recent impulsive retracement formed. Here we expect a possible downward shift to retest the swing lows formed close or below $11
NAS100 Hourly: Selling Pressure Signals Reversal PotentialThe NAS100 is currently experiencing a notable selling pressure on the hourly timeframe, indicating a potential reversal towards the previously established resistance level.
US30 Facing Resistance: Potential Retracement in Bullish TrendThe US30 index is facing rejection at the daily resistance level that has been established. A false breakout occurred as the price briefly moved above the resistance, but it has since retreated back within the resistance zone, indicating a potential dip. This suggests a potential retracement within the ongoing bullish trend.
