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Consolidation

USDJPY → A retest of trend support. What could go wrong?FX:USDJPY is forming a correction to trend support amid the corrective movement of DXY (Dollar Index). Logically, on an uptrend, support should push price up, but what could go wrong? On the daily timeframe TVC:DXY is forming a correction to an important support, the reaction could be bullish, thus USDJPY will start to form a rise to resistance. At the moment the fundamental part is quite complicated, with the Fed's tough stance, the dollar is forming a correction under the influence of other levers. So, we will start from the technical analysis. The currency pair is heading towards the uptrend support, consolidation near this area is confusing and increases the chances of further support breakout. A sell signal (counter-trend strategy) will be the consolidation of the price below the uptrend support line, after its breakout. And the buy signal (trend strategy) will be a false break of the support line. Resistance levels: 148.9 Support levels: 148,46 The situation is complicated by the fundamentals. From a technical point of view, the price can form a trend growth, but we need to wait for a signal. The setup may break, and in this case the target will be 147.38. Watch the reaction of DXY and USDJPY price to the trend support. Regards R. Linda!
Long
by RLinda
16
USOIL (WTI) 10.10.2023Crude oil has experienced a jump after the Hamas-Israel conflict. It seems now that the price is following a consolidation phase forming important support and resistance levels. Breakout of those levels could cause the price to deviate significantly creating opportunities. Next possible levels are depicted by the arrows. __________________________ Information Regarding Important News and Figures can be found here in our Economic Calendar: mau.bdswiss.com/economic-calenda... Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure. BDSwiss is a trading name of BDS Markets and BDS Ltd. BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene. BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Tenancy 10, Marina House, Eden Island, Mahe. Payment transactions are managed by BDS Markets (Registration number: 143350).
TVC:USOIL
by Stuart_Cowell
🥇GOLD - A reversal pattern. Key level 1857GOLD is forming a reversal pattern that changes the local trend. At the moment, for the market to continue the growth scenario, we are interested in the level of 1857.7. If gold can hold this level, we will see the realization of the pattern and growth to 1877 and to 1901. TA on the high timeframe: 1) Price inside the range 1875 - 1815. But resistance has not been reached yet. 1875 area is the actual target at the moment 2) A strong pullback is being formed, the target of which may be the area of 1885-1890. TA on low timeframe: 1) A reversal pattern " Cup with a handle" is being formed. Exit beyond the resistance of the local consolidation will give us growth and realization of the setup. 2) Flat support retest of 1857 is forming. 3) I am waiting for price consolidation above. It is necessary to confirm that the market is ready for growth. Key support📉: 1855-1854, 1845 Key resistance📈: 1866, 1873, 1877
OANDA:XAUUSDLong
by AndeWave
14
Consolidating?Practicing my crayons skills... Don't judge :) Fixed range VP setup near breakout zones Things of interest - Previous dips chopped before the next leg up - Currently just outside high volume zones. Low vol = consolidation potential? - Holding, so far, previous resistance zone - Sideways moves could give time for breadth to improve - Oil appears to be going up --> good for the markets? - 'Triangle pattern' kinda interesting Position : If asked, I'd say wait for a trend. Full/final position for the year will be initiated on trend confirmation via private scripts, MAs, etc. Not financial advice. Good luck and don't risk what you can't lose!
SKILLING:SPX500
by bluesky509
BTC at times of warCrypto Meme market taking a hit supposedly due to the brewing war. People on twitter turning bearish and some even liquidating assets. No major moves and no big volume though. Took Russian invasion in Ukraine as a reference, 24 February 2022 was the day the news hit. We did definetly dip but overall recovered well until May 2023 arrived. Personally not selling anything. BTC daily chart still looking good to me after sweeping 25K. Could argue a H&S is forming but irrelevant at this point. I am still loading up on altcoins at these levels. Like mentioned before there is still a chance of a blackswan, like the mini one with Evergrand Group in august. But i would rather take the hit than risk not having my bags ready for the bull.
by Suneater69
BAKEUSDT → Breaking through resistance opens up the potential BINANCE:BAKEUSDT is trying to move into the phase of realization of accumulated potential. A consolidation above the 0.1421 level will be a good starting point. If we break through the resistance of the range, we can get a gorgeous bullish potential (targets are indicated on the chart) BINANCE:BTCUSD shows good dynamics for the medium term. The price after the false breakdown of resistance does not fall and there are prerequisites for a possible strengthening of the price to 30000, which will give a great kick in the butt to altcoins if the total capitalization increases. From a fundamental point of view, the cryptocurrency is still turbulent and there is not much bullish news (strong news). But bitcoin is showing strength relative to the SP500 ( CAPITALCOM:US500 ) - and that's good for us. In terms of technical analysis BAKE: the price breaks the resistance of the annual descending wedge and we get a signal for further strengthening of the price. In the nearest future the market may test the previously broken level of 0.1421 and if the bulls successfully consolidate the position, the price may give a start towards 0.2339 and 0.2840. Moving averages indicate consolidation and show a hint of something interesting. Support levels: previously broken wedge boundary, 0.1421, 0.1161. Resistance levels: 0.1580, 0.1882, 0.2339. Since we see the breakout of the resistance of the figure, in the long term I expect the formation of the realization of the accumulated potential in the form of a bullish impulse to 0.2339, 0.2840. Regards R. Linda!
Long
by RLinda
21
GOLD → Consolidation ahead of #NFP. What to expect?OANDA:XAUUSD has been consolidating for 4 days. The formation is directed to realization at the moment of #NFP publication. The market was in a downtrend for a long time, after which it went into a narrow consolidation, there were no pullbacks at all in the last two weeks Today, at 12:30 GMT NonFarm Payrolls & Unemployment Rate (Sep.) will be published. This is quite important news for short-term forex market pricing. The impact is on the dollar, and from it already on gold. On the chart we see the formation of a long 4-day consolidation in the range of 1828 - 1815. On the daily chart, the maximum decrease in volatility over the last 2 weeks is forming. The consolidation is starting to form a pre-breakout character as this range is forming near trend support and near the key level of 1809-1807. Hence, based on the negative fundamental background and the formation of a pre-breakout consolidation, there is every chance of a support breakout and further decline towards both 1800 and 1775. But there is always a BUT. News is an unpredictable nuance. Negative news for TVC:DXY can give a bullish surge for gold and vice versa. The nuances are shown on the d1 chart. On D1 SMAs are in the phase of signal realization Support levels: 1815.3, 1812, 1807 Resistance levels: 1828, channel border It is difficult to expect something concrete from the news. In the short term there may be a retest of these resistance areas, but in the medium term I continue to wait for the fall OANDA:XAUUSD COMEX:GC1! COMEX_MINI:MGC1! OANDA:XAGUSD COMEX:SI1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
41
GOLD → The situation remains the same. Consolidation OANDA:XAUUSD continues to consolidate, therefore, the market situation remains the same. The probable outcome of events is a false break of resistance (retest of liquidity area) before further decline The market has been forming consolidation inside the important range of 1828 - 1812 for the last few days. Liquidity is forming above these boundaries, which the market maker (with high probability) will not miss. In priority, I expect a surge in volumes at the next retest of the resistance area and the formation of a false breakdown. Local strengthening of the price may reach such areas as 1830, 1835, 1840. In the medium term, I expect a further fall, but after reaching local targets. The global target is an important support area, which is indicated on the senior timeframe: Weekly chart on the left (blue level). The moving averages indicate a strong trend. A sell signal can be formed relative to 1828.2, 1833.3, 1835.5 Support levels: 1812, 1807. 1800 Resistance levels: 1828.2 In the long term I expect a continuation of the fall, but a small bullish correction may follow before this movement OANDA:XAUUSD OANDA:XAGUSD COMEX:GC1! COMEX_MINI:MGC1! COMEX:SI1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
17
🥇GOLD - Consolidation before the news GOLD is in consolidation on the background of falling market. There will be news soon, quite strong, and most likely the market players are waiting for the data, so consolidation will form on the chart. The sentiment indicator indicates a bearish potential. The trend is also bearish. The news impulse may hit resistance, after which the decline may resume TA on the high timeframe: Market is falling. Price breaks 0.5 fibo and heads towards 0.618 A retest of 1807.96 may follow (the level has not been tested yet), and the price may also hit 0.618 before a pullback. TA on the low timeframe: A sideways flat is formed, the essence of the flat is consolidation Minimal volatility is formed on the market, as the potential for movement in one or another direction is accumulated. Watch the price reaction to the mentioned levels, I am expecting a fall in priority, as we have a downtrend. Key resistance📈: 1831, 1833, 1841 Key support📉: 1815, 1807.9
OANDA:XAUUSDShort
by AndeWave
18
GOLD → The fall continues. Target 1828, 1812 and 1800OANDA:XAUUSD has been making a new downward jump since the opening of the session on Monday. The strong distributive move continues. The price is approaching an important area The chart shows an important liquidity area, but not the final one (1800). At the moment I am interested in the 1828-1812 area. The nearest support line may be tested soon, followed by a correction before further decline. The strong bearish trend continues in the market on the back of TVC:DXY strengthening. ISM Manufacturing PMI & Prices are released today, as well as FED Chars Powell speaks. It is worth paying attention to these releases. From the technical analysis point of view, I will wait for a bounce from 1828 towards the nearest resistance to increase liquidity, after which the price will continue another decline towards 1812 and 1800. The moving averages are showing a strong trend and there is a strong signal on D1 Support levels: 1828, 1812 Resistance levels: 1846 I expect a continuation of the fall in the medium term. Before the further fall, a pullback may be formed, watch the price reaction to the marked levels OANDA:XAUUSD COMEX_MINI:MGC1! COMEX:GC1! OANDA:XAGUSD COMEX:SI1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
27
EURUSD → Retest of resistance leads to new sales FX:EURUSD is forming a retest of resistance of the descending price channel. On the senior timeframe (D1) the preconditions for further sell-offs are forming The market is in the bear market phase. The resistance retest forms a consolidation of the price below the level, which forms a bearish potential before the further fall. At the moment, the fundamental background of the TVC:DXY is quite strong and thus, the Euro will weaken against it, which is what we see. On the monthly chart the price is testing an important support level. On the background of a strong fall, a false breakdown may be formed, which may be followed by a correction. The market cannot fall all the time and at some time EURUSD may go into the phase of consolidation (correction or flat formation). Moving averages act as resistance. Support levels: 1.05000, 1.0557 Resistance levels: 1.0610, 1.0635 I expect the continuation of the fall to the mentioned support area with the subsequent breakout and further fall to 1.0350 Regards R. Linda!
Short
by RLinda
27
GOLD →The market doesn't feel supported. Further ↘︎OANDA:XAUUSD is in a strong distributive phase, the price is not even stopped by the 1885 level (liquids area). The price is updating the low amid negative fundamentals, as evidenced by strong weakness from buyers On Wednesday, the market forms a paranormal candle, the closing of which suggests the continuation of the fall, the local level of 1875 and 1872.58 is formed. If this zone is overcome and the price consolidates below this area, a bearish potential will be formed. But before the further fall, the market-maker may make a rebound to increase the liquidity. In the correction phase the price may reach such zones as: 1880, 1885 !!, 1890. But, it is worth paying attention to the D1 chart, the price is breaking the support of the symmetrical triangle, now the market has entered the phase of realization of the accumulated potential. On the background of bullish news for the TVC:DXY , the XAU price entry into the empty range can only accelerate its fall to 1800. This level is the nearest significant one. At the moment it is difficult to talk about buying, the medium-term market is ready to fall. We continue to follow the price Support levels: 1875, 1872,5 Resistance levels: 1880, 1885, 1890 Market is red, DXY is being pushed up on the back of unstable inflation. Gold is not feeling strong support levels, suggesting weak buying power OANDA:XAUUSD COMEX:GC1! COMEX_MINI:MGC1! OANDA:XAGUSD COMEX:SI1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
24
PEOPLEUSDT → A break of resistance opens up the new range BINANCE:PEOPLEUSDT forms a local bottom, breaks the resistance of the descending wedge and one of the key levels within the realization of consolidation. A new corridor is opened As BINANCE:BTCUSD tests a local high near 26800, an altcoin reaction is forming. Even though the SEC has postponed the adoption of BTC-ETF indefinitely, the market is getting a small influx of assets. Our attention is drawn to PEOPLE. The price breaks the wedge resistance and continues to form a consolidation in a weak market. Finally, the coin breaks through the key, for now, level of 0.01022. Consolidation of the price above the level will form a bullish potential, which my move into the phase of realization and within the medium-term perspective PEOPLE / TetherUS can reach 0.01433 and 0.0185. Altcoins have been strongly consolidating their energy lately, something may happen soon. Support levels: 0.01022, 0.00846 Resistance levels: 0.01433 I expect the price growth to continue after consolidation above 0.01022 level. Regards R. Linda!
Long
by RLinda
17
💱EURUSD - Consolidation is being formed for support breakout EURUSD on the background of a quick retest breaks the key support and forms consolidation. A potential is formed, within the framework of the realization of which the price can quickly reach 1.0536 TA on the high timeframe: 1) Strong bearish trend continues 2) A retest of the support at 1.0635 breaks the level 3) Price opens a corridor to fall to 1.0536 TA on low timeframe: 1) Pre-breakdown consolidation is formed 2) The market enters the phase of realization of accumulation after breaking the support at 1.0635. 3) Consolidation of the price below the level will form a sell entry point 4) After the FED news, the currency pair may fall to 1.0536 after breaking 1.06350. Key support📉: 1.06350, 1.0617 Key resistance📈: 1.0642, 1.0664
Short
by AndeWave
6
💱 EURAUD - The market is preparing for further decline EURAUD is forming a local flat after breaking through 1.6658. The market is forming a retest of support, but there will be a chance of a breakout if the price comes back again after a small rebound TA on the high timeframe: 1) We have a bearish trend 2) A pre-breakout consolidation is forming near 1.64975 3) Another support retest may break the level and form an impulse to 1.61900 TA on the low timeframe: 1) Price is descending in steps within the bearish channel, which indicates a strong trend 2) Support at 1.64885 and multiple retests of it are forming. 3) The market is preparing to break this line and further fall. 4) The sell signal will be a retest and consolidation below the support level Key resistance📈: 1.66122 Key support📉: 1.64885
Short
by AndeWave
4
USDJPY → Ascending triangle will provide bullish momentum FX:USDJPY is strengthening on the background of the dollar indices growth. The currency pair continues to form a bullish price channel and in addition forms a pattern, which may form a bullish impulse in the near future. On the chart I have marked an ascending price channel, its structure plays a key role in the current pricing of the forex currency pair. An ascending triangle was formed relative to the level of 147.800. The set-up of this triangle can be explained as a provocation of buyers relative to the limit resistance level put up by the market maker or big sellers. The market continues to pressure this area. The very figure of ascending triangle was formed in the moment of local correction of dollar index. In the near term, I expect another retest of 147.816 followed by a breakout of resistance. Support levels: 147.00, 146.150 Resistance levels: 147.816 I expect a breakout of this resistance with the subsequent formation of a medium-term upward movement to 150.00. Regards R. Linda!
Long
by RLinda
12