USDCAD LongLongs, shorts, longs, shorts.
Overall Bearish on the UCAD however I'm looking for a DXY pump while we wait for the next area to hop into a nasdq short
Fundamental-analysis
Good Bye NasdaqTechnicals played out beautifully.
Remember guys the name of the game is SURVIVAL.
Dont be afraid to take profits, I took 90% of profits and I'm letting the rest run with a stop loss at BE.
Good trade boys.
Strong fundamental and technical China playI do like how some of the strongest plays in China are setting up for the perspective upside in Q4 and beyond.
Have a look at $NASDAQ:FUTU. High double and triple digits growths of earnings and sales four quarters in a row; strong and consistent ROE numbers; high eps growth estimates. Management owns 5% of the company. In conjunction with China government plans to stimulate the economy, most of the ingredients are there to support potential price advance of FUTU into Q4.
From the technical stand point, I may suggest several perspective:
1. My wave-analysis shows that a) the mid/long-term structure allows for substantial upside and b) price found important short-term support in 53 area and is now building the base before continuing advance towards next important resistance zones: 80-99.
2. Waves and fibonacci aside, notice how well the price creates a volatility contraction pattern on a weekly time-scale, with an evident accumulation signs and good weekly closes. That leads me to consider that sellers with selling volume are subsiding and buyers are ready to step in leading the price higher.
Overall there is quite substantial overhead supply from devastating 90% decline since 2021, strong fundamental and at least short to mid term technical stance make NASDAQ:FUTU a valid candidate for the buy list.
Trading thesis: if price manages to break-out above 67.5 with supportive volume confirmation, that shall be a buy signal. With tight 3-5-7% staggered stop loss. For cowboy type of traders, price moving above 64.10 could be a place to start opening the position with an intention of adding after 67.5 breach.
The short-term analysis is valid until price holds above Oct's low of 52.
MKR/USDT 1D Review ChartHello everyone, I invite you to review the MKR chart in pair with USDT, on a one-day time frame. First, we will use blue lines to mark the upward trend channel, which contains data around the additional range.
Going forward, the point of support will be marked in the event of a larger correction. And here, the first one is our support zone from $1,404 to $1,539, then the zone at the border from $1,292 to $1,209, and then there is a strong shock near the support level at $967.
On the other hand, the price reached the important resistance zone from $1,476 to $1,565, from which it was rejected. However, if you manage to get out of this zone, it will be in the second zone from $1,773 to $1,864.
Please check the CHOP index, which indicates that we have a lot of energy at the exit of the movement, the RSI indicator, which is visible near the outer area, making it difficult to determine the direction, but when displayed on the STOCH indicator, to display a rebound to the exit of the border and the original exit from the place because the price went higher.
Long Positions in EUR/AUD, Potential for Additional Upside.Traders favoring a rise in EUR/AUD continue to stand strong, with opportunities for additional gains. The market suggests that there is still room for further upward movement.
Buy: 1.6680
TP: 1.6750
SL: 1.6600
"Simple doesn't mean not profitable"
Stay focused my friend.
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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EUR/NZD Holds Firm at 1.7850The EUR/NZD pair is currently consolidating near the 1.7850 level while retaining a bullish bias. It remains in a stable range as it hovers around this key support, signaling ongoing positive momentum in the market.
Buy: 1.7800
TP: 1.7900
SL: 1.7720
ETH/USDT 4HInteral Review ChartHello everyone, let's take a look at the ETH to USDT chart on a 4-hour time frame. As you can see, the price is moving just below the local downtrend line.
After unfolding the Trend Based Fib Extension grid, we see that the price remains under support, while the next support is at $1,499, and further at $1,466.
Looking the other way, the first resistance is at $1,565, then we have resistance at $1,593, the next resistance at $1,614, and then we have the resistance zone from $1,637 to $1,668.
Looking at the CHOP indicator, we see that there is still energy for movement, on the STOCH indicator we have a slight rebound with room for growth, while the RSI indicator is moving towards the lower limit and we are currently experiencing a slight increase.
GOLD: A SAFE HEAVEN IN UNCERTAIN TIMESTVC:GOLD
My current views on GOLD:
Short chart explanation.
This structure can be:
1. A continuation of the bigger WXY - forming another XZ correction (so the price is heading on the downside)
2. A correction at a smaller degree (ABC), finishing a potential Wave A on the downside, before bouncing forming the Wave B on the upside, potentially reaching again the top main resistance point.
Deeper insights:
In recent months, gold prices have been on the rise, as investors have sought to protect their wealth from inflation and the potential for a recession. The ongoing conflict in Ukraine has also boosted demand for gold, as investors have sought to hedge against geopolitical risks.
Technical Analysis
On the 30-minute chart, gold is currently trading in a bullish trend. The price is above all major moving averages, and the RSI and MACD indicators are both bullish. This suggests that the bulls are in control and that the price could continue to move higher in the near term.
s3.tradingview.com
On the 4-hour chart, gold is also trading in a bullish trend. The price is above all major moving averages, and the RSI and MACD indicators are both bullish. This suggests that the bulls are in control and that the price could continue to move higher in the near term.
s3.tradingview.com
On the daily chart, gold is also trading in a bullish trend. The price is above all major moving averages, and the RSI and MACD indicators are both bullish. This suggests that the bulls are in control and that the price could continue to move higher in the near term.
s3.tradingview.com
Conclusion
Overall, the technical and fundamental outlook for gold is bullish. The price is above all major moving averages on the 30-minute, 4-hour, and daily charts, and the RSI and MACD indicators are all bullish. This suggests that the bulls are in control and that the price could continue to move higher in the near term.
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This analysis is based on the information at the date it is posted.
This analysis does not represent professional and/or financial advice.
You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information.
Any feedback is encouraged and appreciated. Thank you and have a nice day!
BTC/USDT 4HReview ChartHello everyone, I invite you to Thursday's review of the current situation on BTC in pair with USDT, taking into account the four-hour interval. First, we will use the yellow line to mark the upward trend lines from which the price has currently broken down.
When we turn on the EMA Cross 200, we can see that the price has returned below the moving average, which also indicates a return to the downtrend.
Now we can move on to marking support areas in case the correction deepens. And here, first of all, it is worth marking the support at the level of $26,750, at which the price currently holds, but when it drops lower, it will move towards the strong support zone from $26,313 to $25,691.
Looking the other way, we can determine resistance locations in a similar way using the Fib Retracement tool. First, we will mark the resistance zone from $27,322 to $27,552, when it is overcome, the price must overcome the second resistance zone from $27,798 to $28,140, only then will we be able to see new increases.
Please pay attention to the CHOP index, which indicates that most of the energy has been used, on the STOCH indicator we have exceeded the lower limit, which also resulted in the price decline slowing down, also on the RSI index we are moving at the lower limit of the range, which may result in a price rebound in the coming hours.
Brent Oil: Ready for a Rally?Brent oil prices have skyrocketed in recent months, from about $70 a barrel in June to more than $90 a barrel today. This is due to a number of factors, including:
Fundamentals
Tight supply:
OPEC+ has cut output to support prices and there are concerns about supply disruptions from Russia due to the ongoing war in Ukraine.
Strong demand:
Global oil demand is recovering from the COVID-19 pandemic and is expected to continue growing in the coming months.
Weaker US Dollar:
A weaker US dollar makes oil more affordable for buyers using other currencies.
Technicals
30-minute chart: Brent oil is currently trading in a bullish trend channel on the 30-minute chart. The RSI indicator is above 50, suggesting that buyers are in control. The MACD indicator is also bullish, with the MACD line above the signal line and the histogram turning positive.
4-hour chart: On the 4-hour chart, Brent oil is also trading in a bullish trend channel. The RSI indicator is above 50, and the MACD indicator is bullish, with the MACD line above the signal line and the histogram turning positive.
Daily chart: On the daily chart, Brent oil is trading above its 200-day moving average, which is a bullish signal. The RSI indicator is above 50, and the MACD indicator is bullish, with the MACD line above the signal line and the histogram turning positive.
Conclusion
Overall, the fundamental and technical outlook for Brent oil is bullish. Prices could continue to rise in the coming days and weeks, especially if there are any supply disruptions or if the US dollar continues to weaken.
Inflation, Oil and Gold Prices: Understanding the basics
The monetary markets are continually responding to unused data, and swelling, oil costs, and gold costs are a few of the foremost imperative components that financial specialists consider. This article will give a TradingView direct to understanding how these components can influence the stock and forex markets, and how dealers can utilize them to their advantage.
Inflation
Swelling is the rate at which costs for merchandise and administrations are rising. When swelling is tall, it can disintegrate the esteem of investment funds and speculations, and it can too lead to higher intrigued rates. For stock financial specialists, expansion can be a negative calculate, because it can lead to higher costs for companies and lower benefits. For forex dealers, expansion can have a blended affect, depending on the monetary forms included. For case, if inflation is higher within the Joined together States than in Europe, it may lead to a more grounded US dollar.
Oil prices
Oil is one of the foremost critical commodities within the world, and its cost can have a noteworthy affect on the worldwide economy. When oil costs are tall, it can lead to higher swelling and slower financial development. For stock speculators, tall oil costs can be a negative figure, as they can lead to higher costs for companies and lower benefits. For forex dealers, oil costs can have a blended affect, depending on the monetary standards included. For illustration, in case oil costs rise, it seem lead to a more grounded Canadian dollar, as Canada could be a major oil exporter.
Gold prices
Gold is regularly seen as a secure sanctuary resource, and its cost can rise when there's uncertainty or turmoil within the money related markets. For stock speculators, gold costs can be a great fence against swelling and showcase instability. For forex dealers, gold costs can have a blended affect, depending on the monetary standards included. For case, on the off chance that gold costs rise, it may lead to a weaker US dollar, as financial specialists may offer dollars to purchase gold.
How to approach these components
There are a number of ways to exchange expansion, oil costs, and gold costs. One way is to exchange the fundamental resources themselves. For illustration, stock speculators can purchase offers of companies that are included within the oil and gas industry, or they can purchase offers of gold mining companies. Forex dealers can purchase and offer cash sets that are connected to oil or gold costs.
Another way to exchange these variables is to utilize subordinates, such as prospects contracts and choices contracts. Subsidiaries permit dealers to wagered on the heading of costs without having to claim the fundamental resources. For case, a stock financial specialist seem purchase a prospects contract on oil to wagered on higher oil costs. A forex dealer may purchase a call alternative on gold to wagered on higher gold costs.
Conclusion
Expansion, oil costs, and gold costs are vital variables to consider when exchanging the stock and forex markets. By understanding how these variables can influence the markets, dealers can create methodologies to benefit from them.
How to use this information to trade the stock and forex markets: (Not financial advice!)
As mentioned above, there are a number of ways to trade inflation, oil prices, and gold prices. Here are a few examples:
Stock investors:
Buy shares of companies that are involved in the oil and gas industry, such as ExxonMobil (XOM) and Chevron (CVX).
Buy shares of gold mining companies, such as Newmont Corporation (NEM) and Barrick Gold (GOLD).
Buy shares of companies that are known to hedge against inflation, such as consumer staples companies such as Procter & Gamble (PG) and Coca-Cola (KO).
Forex traders:
Buy currency pairs that are linked to oil prices, such as the Canadian dollar/US dollar (USDCAD) currency pair.
Buy currency pairs that are linked to gold prices, such as the Australian dollar/US dollar (AUDUSD) currency pair.
Use technical analysis to identify trends and patterns in oil and gold prices, and then trade the currencies that are linked to these commodities.
It is important to note that trading is a risky activity, and there is no guarantee of profits. However, by understanding the factors that can affect the stock and forex markets, traders can develop strategies to manage their risk and increase their chances of success.
Sources:
Federal Reserve Bank of St. Louis: tradingeconomics.com
US Energy Information Administration: oilprice.com
World Gold Council: goldprice.org
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If you agree with the idea, please follow and share this with others too.
This analysis is based on the information at the date it is posted.
This analysis does not represent professional and/or financial advice.
You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information.
Any feedback is encouraged and appreciated. Thank you and have a nice day!
EUR USD IdeaRegarding the EUR/USD pair, our swing trade attempt from the previous daily fractal high didn't succeed, and we observed a downward movement. Looking at the Fibonacci range, we find ourselves at the upper end of the range. We're in a bullish momentum unless there's a shift to the downside. Additionally, we've noticed a significant concentration of stops above our current price levels. It's essential to be aware of these levels, although we can never predict the exact targets of market makers. A logical approach might be to wait for a price decline before considering new trades. These are the technical insights for today. Let's see how the day unfolds.
DOLLAR IdeaGood morning, traders. Yesterday, we witnessed a push down in the dollar and an upward move in EUR/USD. We're still trading within a range, and we noticed the first sign of weakness in the dollar index as it failed to make a lower low. Today, we have news releases that can influence the dollar, so exercise caution when trading dollar pairs. We're patiently waiting for a swing trade opportunity on EUR/USD, but first, we need to see the dollar break through levels around 105.500. Once that happens, we'll actively look for swing trades on EUR/USD. Stay patient, my friends. There's no need to take unnecessary risks. The market offers plenty of opportunities. Happy trading!
MKR/USDT 1DChart ReviewI invite you to review the chart of MKR paired with USDT. First, we will use the yellow line to mark the downward trend from which MKR came out on top, while locally, we can use the blue lines to mark the upward trend channel in which the price is moving.
When we unfold the Fib Retracement grid, we will notice that the price has approached the support level of $1,340, which is currently keeping the price from falling further, but when it breaks, we have another support level of $1,179, and further we can mark a strong support zone from $1,050 to $920.
Looking the other way, we see that the price has been rejected from the important resistance zone from $1,503 to $1,741, which it has no strength to break yet. However, if we manage to break out of this zone, we will move towards the resistance level of $2,081 and then towards the resistance level of $2,508.
At this point, it is worth marking the moving average EMA Cross 200, from which the price has gone up and, despite the current recovery, it remains above the blue line, remaining in a strong upward trend.
Please look at the CHOP index, which indicates that we have a lot of energy for the upcoming move, on the STOCH indicator we are at the lower limit, which has resulted in the current decline slowing down, while on the RSI indicator we are returning to the middle of the range, despite the price dropping lower, we are getting closer. to the point where we previously started to grow again, which is worth keeping in mind.
MATIC/USDT 1DIntervalI invite you to review the MATIC chart. As we can see, the price dropped below the blue EMA Cross 200 line, thus returning to the strong downtrend. However, here, after marking the downtrend channel, we can notice that the price breaks out of it sideways, which may have a positive impact on it and may translate into a change in direction.
When we unfold the Fib Retracement grid, we can see that the price has returned and remains in a very strong support zone that starts at $0.58 and continues up to $0.31.
Looking the other way, we can similarly determine the resistance areas that the price must face. And here we see that there was a strong rejection of the price from the zone from $0.74 to $0.90, but when the price breaks it, it will have an open path towards the second zone from $1.15 to $1.33.
The CHOP Index indicates that the energy is gaining more and more strength. However, the STOCH and RSI indicators show a visible recovery with room for the price to drop to a lower level.
ETH/USDT 1DInterval ReviewHello everyone, I invite you to review the ETH pair to USDT chart, also on a one-day time frame. First, we can use the blue lines to mark the upward trend channel in which the price is currently moving in the lower range.
We also see that the ETH price made a negative attempt to break out of the blue EMA Cross 200 line, remaining in a downward trend.
Now let's move on to marking the support places. We will use the Trend Based Fib Retracement tool to mark supports, and as you can see, the price remains at the lower limit of the current support zone from $1,664 to $1,551, but if we fall below this zone, the price may exit the channel below and return to the vicinity of the strong support zone from $1,389 to $1,184.
Looking to the second one, we see that the price has rebounded from the resistance level at $1,734 for the second time, only when it is overcome will we move towards the next resistance levels at $1,891 and then $2,017, then the price will move towards the very strong resistance zone of $2,143 to $2,321.
Index CHOP indicates that energy has been used. The MACD indicator is on the verge of entering a local downtrend. However, we see a rebound on the RSI, but we remain in an upward trend.
BTC/USDT 1D Review CHartHello everyone, I invite you to Tuesday's review of the current situation on BTC in the USDT pair, taking into account the one-day time frame. First, we will use blue lines to mark the upward trend channel from which, as you can see, the price has come out at the bottom. Therefore, at this point, you need to determine a new side trend channel in which the price is currently moving.
When we turn on the EMA Cross 200, we can see that the BTC price has gone above the blue moving average line of 200, and we are currently struggling to stay in the uptrend.
Now we can move on to marking support areas in case the correction deepens. And here, first of all, it is worth marking the support zone from $25,617 to $23,654, from which the price has already bounced several times, but when we fall below this zone, we may see a drop to the vicinity of the second, very strong support zone from $21,748 to $18,976.
Looking the other way, we can determine resistance locations in a similar way using the Fib Retracement tool. And here you can see that the price is again approaching the resistance at the level of $28,043, only when we go up above it, we will see an attempt to attack the very strong resistance at the level of $31,912, which is also the upper limit of the currently ongoing sideways trend channel, then a path will open up direction $35,724.
Please pay attention to the CHOP index, which indicates that the energy is slowly starting to grow, on the STOCH indicator we are near the upper limit, which may result in a greater recovery, but on the RSI indicator we are back near the middle of the range and considering that we have not touched the upper limit, we can see a new attempt at growth after the current recovery.
US CPI Data, Fed Rate Hike Decision Due This Week: Implications The US Customer Cost Record (CPI) information for September is due to be discharged on Wednesday, taken after by the US Government Reserve's intrigued rate choice on the same day. Both of these occasions have the potential to altogether affect the forex and stock markets.
The CPI information could be a degree of expansion, and a higher-than-expected perusing may lead to assist tightening of monetary arrangement by the Encouraged. This can be since the Bolstered is entrusted with keeping expansion in check, and it'll likely raise intrigued rates on the off chance that expansion is running too high.
A higher-than-expected CPI perusing might too lead to a sell-off in stock markets. This is often since higher intrigued rates can make it more expensive for companies to borrow cash and contribute, and it can moreover weigh on buyer investing.
The Fed's intrigued rate choice is additionally likely to have a major affect on the forex and stock markets. A 75 premise point rate climb by the Bolstered is broadly anticipated, but a larger-than-expected rate climb might lead to a sell-off in stock markets and a more grounded US dollar.
Forex Suggestions
A higher-than-expected CPI perusing or a larger-than-expected rate climb by the Nourished may lead to a more grounded US dollar. This is often since financial specialists tend to purchase secure safe house resources, such as the US dollar, when they are expecting higher intrigued rates or instability within the markets.
Stock Suggestions
A higher-than-expected CPI perusing or a larger-than-expected rate climb by the Fed may lead to a sell-off in stock markets. This is since higher interest rates can make it more costly for companies to borrow cash and contribute, and it can too weigh on customer investing.
Conclusion
The US CPI data and the Fed's intrigued rate choice are two of the foremost critical financial occasions of the week. Both of these occasions have the potential to significantly impact the forex and stock markets. Speculators are exhorted to screen these occasions closely and be arranged for instability.
Sources:
Bloomberg: "US CPI Data, Fed Rate Hike Decision Due This Week"
Reuters: "US CPI Expected to Ease in September, But Stay Elevated"
I hope this post is helpful.
If you agree with the idea, please follow and share this with others too.
This analysis is based on the information at the date it is posted.
This analysis does not represent professional and/or financial advice.
You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information.
Any feedback is encouraged and appreciated. Thank you and have a nice day!
#JPY upside potentialHi, dear traders and colleagues,
Let's take a look at the JPY basket and analyze its potential implications in relation to other currencies.
The Japanese Yen (JPY) has been weakening for a considerable period due to the policies implemented by the Bank of Japan (BOJ). However, given that we are now at the end of the hiking cycle in other central banks, it is reasonable to assume that the interest rate differential between JPY and other currencies will start to decrease. This shift could potentially lead to the JPY gaining strength.
To support this hypothesis, we can examine the chart, where the price recently broke above a long-standing bearish channel with an impulsive move. This breakout suggests that there might be further bullish momentum in store.
Another noteworthy factor that adds confidence to the authenticity of this upside breakout, unlike the previous false breakout marked within the box, is the current price action. During the previous false breakout, the price formed a V-top chart pattern, resulting in a bullish impulsive move followed by a bearish impulsive move. This indicated that the breakout was driven by news events and was not sustainable. However, in the current scenario, we see the price consolidating after the upside breakout and not immediately retracing back into the channel range. This gives us reason to believe that this breakout is more likely to be genuine and mature over time.
Now, in terms of trading, an upside move in the JPY basket implies that currencies paired against the JPY are likely to face challenges and experience downside movements. This includes currency pairs like EURJPY, GBPJPY, CHFJPY, and so on.
To identify potential entry points, we are currently monitoring two key areas. The first area of interest is marked by the arrow line, which points to yesterday's low. We are keen to observe how the price reacts around this level. The second area to watch is the 4-hour timeframe supply area, which coincides with the upper line of our bearish channel. This area could serve as a potential retest point for the price.
Keep a close eye on these areas for potential trading opportunities, and remember to adapt your strategy as the market evolves.
Happy trading!
USOIL WEEKLY UPDATE hello trader...
I noticed a divergence in the daily oil chart between the rsi and waves 3 and 5. Rsi is still over 50 level in daily chart, which leads me to believe that the uptrend is still in progress.
yet H4 rsi is currently below 50 level. My plan is to short around $93.7 and monitor the RSI daily whether I can stay below the 50 level or any news from us or any oil announcement .
a break above previous high might took oil to next resistance level at $101. so hold you buy.
**I have no intention of using my trading approach as a signal. I'm practicing my trading strategies, learning about market dynamics, and figuring out the best way to enter the market in the right direction.
Now what will be the goal of Gold, see our analysisWe saw that on Friday, when the NFP news came, the market was running at 1820. After that, the market went down and reached 1811.
The market went up to 1835, after which it went down a little. On Friday, the market closed at 1832, and when the market opened today, it opened with a gap, and at that time it was running until 1852.
If the market breaks 1846, then our next target is 1830, which is also support; if the market breaks 1830, then our next targets are 1816 and 1799; and on the other hand, if the market breaks the resistance of 1857, then our next targets are 1870 and 1880.
Due to the war between Palestine and Israel, the whole market is not stable. We request that you monitor the market again and again and use your stop-loss
THE WORLD IS CHANGING, SO IS THE OIL PRICE MOVEMENTSCAPITALCOM:OIL_BRENT
On the fundamental side, Brent oil prices have been supported by a number of factors in recent months, including:
Strong global economic growth, which has boosted demand for oil.
Supply disruptions caused by the ongoing conflict in Ukraine.
The decision by OPEC+ to cut production by 2 million barrels per day.
The war in Iran, which has raised concerns about further supply disruptions.
However, there are also some headwinds facing Brent oil prices, including:
The potential for a global economic recession, which would reduce demand for oil.
The release of oil from strategic reserves by the United States and other countries.
The increasing popularity of electric vehicles, which could reduce demand for oil in the long term.
Overall, the fundamental outlook for Brent oil is bullish. The factors supporting prices are likely to outweigh the headwinds in the near term, but there are some risks to the upside potential.
Technical analysis
On the technical side, Brent oil is currently in an uptrend. On the 30-minute chart, the price is above the 50-day and 200-day moving averages, and the RSI indicator is above 50. This suggests that the bulls are in control and that the price is likely to continue to rise in the near term.
On the 4-hour chart, the price is also above the 50-day and 200-day moving averages, and the MACD indicator is giving a bullish crossover signal. This further confirms the uptrend on the 4-hour chart.
On the daily chart, the price is also above the 50-day and 200-day moving averages, and the RSI indicator is above 50. This suggests that the uptrend is likely to continue on the daily chart as well.
Elliott wave analysis
Elliott wave analysis suggests that Brent oil is currently in the fifth wave of a five-wave Elliott wave sequence. This means that the price is likely to continue to rise until it reaches its target, which is around $100 per barrel.
Conclusion
Overall, the fundamental and technical outlook for Brent oil is bullish. The price is likely to continue to rise in the near term, with a target of around $100 per barrel. However, investors should be aware of the risks posed by a potential global economic recession and the ongoing war in Iran.
Additional thoughts on the war in Iran
The war in Iran is a significant wildcard for the oil market. If the war escalates, it could lead to a major disruption in oil supplies, which would send prices soaring. However, it is also possible that the war will be resolved quickly, with minimal impact on the oil market.
Investors should closely monitor the situation in Iran and be prepared to adjust their positions accordingly.
I am deeply saddened by any war and the conflicts happening around the world. My heart goes out to all those who have been affected by this violence.
I know that words alone cannot heal the pain of those who have lost loved ones or been displaced from their homes. However, I want to express my solidarity with all those who are suffering and to let them know that they are not alone.
I believe that peace and understanding are essential for a better future. I hope that we can find a way to resolve these conflicts peacefully and build a more just and equitable world for all.
This being said, coming back to our analysis, good luck everyone in your financial decisions.
LTC/USDT 4HInterval ReviewHello everyone, I invite you to review the chart of LTC in pair with USDT, on a four-hour interval. First, we will use the yellow line to mark the downward trend lines from which the price has gone up, while locally we can see that we are moving in a sideways trend channel.
Moving forward, we can move on to marking support areas when we return to the correction. And here you can see that the lower border of the channel is also a support zone lasting from $63.28 to $61.97, but when we fall lower, we still have support at $60.10, and then support at $57.69.
Looking the other way, we see that the price has reached an important resistance zone from $65.71 to $67.91, which it does not have the strength to break yet. However, if we manage to break out of this zone and the upper border of the channel, we still have strong resistance at $70.69.
Please look at the CHOP index, which indicates that we have a lot of energy for the upcoming move. On the STOCH indicator, we are exceeding the upper limit, which may end the current upward movement and translate into a price recovery, while on the RSI indicator, there is still room for the price to grow.
