NovaFX23

NovaFX23

The EURAUD pair has developed an inverted head and shoulders pattern on the 4-hour chart, signaling a possible bullish reversal. A breakout above the pattern’s neckline points to continued upward momentum, with a potential test of the 1.6620 level soon.

NovaFX23

The Dollar Index is expected to extend its downward trend after a strong bearish rally. This outlook is reinforced by the breakout below the support line of a bearish flag pattern, following a retest of a key resistance level. The price is projected to approach the 106.63 level soon.

NovaFX23

Gold is currently in a strong bullish trend. After establishing a new higher high and higher close on the 4-hour timeframe, the pair has entered a consolidation phase within a horizontal trading range. I anticipated a bullish breakout above the range’s resistance level. A 4-hour candle closing above 2943 would signal strong buying momentum, confirming a bullish...

NovaFX23

⚠️ GBPCAD Analysis This week, GBPCAD broke a key structural resistance and closed above it. Currently, the pair is consolidating within a tight horizontal range, retesting the broken structure on the 4-hour chart. For confirmation of a bullish intraday trend, watch for a breakout above the range resistance. A 4-hour candle closing above 1.7924 will...

NovaFX23

⚠️ Bitcoin (BTC/USD) Wave Analysis Bitcoin is currently in a consolidation phase, trading within a wide horizontal range on the daily chart after a strong bullish rally. - **Resistance Zone:** 106,027 - 109,582 (Aligns with the All-Time High resistance) - **Support Zone:** 89,378 - 92,797 There are two possible scenarios based on price action at these...

NovaFX23

Silver's price appears to be resuming its downward movement. After consolidating within a parallel rising channel, it has broken through both a key support level and the channel's support line. This breakout has formed an expanding supply zone, defined by the horizontal support and the channel's support line. A further decline seems likely, with the next...

NovaFX23

Gold has reached a key daily resistance level at a rising trend line. After a strong bullish rally, the market seems overbought, and the formation of a cup and handle pattern on the 1-hour chart suggests weakening buyer momentum in the near term. I anticipate a pullback to 2880.

NovaFX23

The Dollar Index has approached a key upward trend line. After a sharp decline, the market seems overbought, and the formation of a cup and handle pattern suggests weakening selling pressure. A retracement to 108.80 is expected.

NovaFX23

GBPNZD recently reached a key resistance level and formed a head and shoulders pattern. Last week, the price broke below the neckline and is now retesting it, showing a strong bearish response. Selling pressure seems to be building, suggesting a potential downward move soon. The target for this decline is around 2.1803.

NovaFX23

The 📈EURUSD pair recently surpassed a key horizontal resistance level on both the daily and intraday charts. Upon retesting this level, a cup and handle pattern emerged, signaling a potential bullish continuation. A breakout above the pattern’s neckline serves as a strong confirmation for further upward momentum. I expect the price to continue rising...

NovaFX23

I've identified a strong bullish pattern on the hourly timeframe for 📈 Gold. After forming a new higher high, the market entered a corrective phase within an expanding channel, known as a bullish flag pattern. A breakout above the flag’s resistance would be a powerful trend continuation signal, highlighting buyers' dominance. There is a high probability...

NovaFX23

Gold has reached a key ascending trend line on the 4-hour chart. After a strong bullish rally, the market seems overbought, and a head and shoulders pattern on the 1-hour chart indicates weakening buyer momentum in the short term. A retracement to 2844 is expected.

NovaFX23

Silver has been in a strong uptrend for over a month, surpassing a key horizontal resistance level. The ongoing retest of this level is likely to hold within a rising parallel channel, with further upside expected toward the 32.91 resistance level.

NovaFX23

GBPNZD seems to be trending downward after a phase of consolidation. A break below a key support level within the sideways range signals the potential for further decline. The price is likely to continue falling, possibly reaching the 2.1946 support level.

NovaFX23

"EUR/AUD is poised for further decline after breaking down from a bearish flag pattern on the hourly chart. Following a failed retest of a recently broken support level, I targeted potential downside levels at 1.6591 and 1.6559."

NovaFX23

Since mid-January, Silver has been consolidating within a broad horizontal range on the 4-hour chart. Despite this, market sentiment remains bullish, with indications of an impending strong uptrend. A breakout above the resistance line signals the completion of bullish accumulation, setting the stage for potential gains. The next resistance target is 31.50.

NovaFX23

Gold is forming an ascending triangle pattern on the 4-hour chart, signaling bullish accumulation. To confirm the continuation of the uptrend, watch the pattern's neckline closely. A breakout and close above 2772 would validate bullish dominance, with a potential target of 2788.

NovaFX23

📉 EUR/USD Update As expected, the market broke below the highlighted blue support, leading to a significant price drop. On the 4-hour chart, I observed further confirmation of the bearish trend—a break below both the support line of a rising parallel channel and a key support level within a smaller range. I expect this downward movement to continue towards 1.0353.