GBPUSD Is Nearing 1.26450 Resistance Along With The TrendHey Traders, in today's trading session we are monitoring GBPUSD for a selling opportunity around 1.26450 zone, GBPUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.26450 support and resistance area.
Trade safe, Joe.
SELL
USOIL Will Go Down! Sell!
Take a look at our analysis for USOIL.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 71.095.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 70.000 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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NQ1! BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
We are now examining the NQ1! pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 21,219.75 level.
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EUR/JPY BEARS ARE STRONG HERE|SHORT
Hello, Friends!
It makes sense for us to go short on EUR/JPY right now from the resistance line above with the target of 160.038 because of the confluence of the two strong factors which are the general downtrend on the previous 1W candle and the overbought situation on the lower TF determined by it’s proximity to the upper BB band.
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EUR/CAD SHORT FROM RESISTANCE
Hello, Friends!
Previous week’s green candle means that for us the EUR/CAD pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 1.490.
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EURGBP Potential DownsidesHey Traders, in today's trading session we are monitoring EURGBP for a selling opportunity around 0.83200 zone, EURGBP is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.83200 support and resistance area.
Trade safe, Joe.
US100 Is Very Bearish! Short!
Take a look at our analysis for US100.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 21,766.7.
The above observations make me that the market will inevitably achieve 20,570.5 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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AUDNZD Will Go Lower From Resistance! Sell!
Take a look at our analysis for AUDNZD.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 1.104.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 1.098 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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AUDJPY Will Move Lower! Sell!
Please, check our technical outlook for AUDJPY.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 97.822.
Taking into consideration the structure & trend analysis, I believe that the market will reach 97.277 level soon.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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BITCOIN BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
BITCOIN is trending down which is evident from the red colour of the previous weekly candle. However, the price has locally surged into the overbought territory. Which can be told from its proximity to the BB upper band. Which presents a beautiful trend following opportunity for a short trade from the resistance line above towards the demand level of 89,901.
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EUR/GBP SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
EUR/GBP pair is in the downtrend because previous week’s candle is red, while the price is obviously rising on the 5H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 0.825 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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USD/CHF BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
USD/CHF pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 2H timeframe the pair is going up. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 0.886 area.
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GBP/USD BEARS ARE STRONG HERE|SHORT
Hello, Friends!
Previous week’s green candle means that for us the GBP/USD pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 1.270.
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AUDCAD Potential DownsidesHey Traders, in today's trading session we are monitoring AUDCAD for a selling opportunity around 0.91000 zone, AUDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.91000 support and resistance area.
Trade safe, Joe.
NZDUSD Potential DownsidesHey Traders, in today's trading session we are monitoring NZDUSD for a selling opportunity around 0.57800 zone, NZDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.57800 support and resistance area.
Trade safe, Joe.
EURUSD Potential DownsidesHey Traders, in today's trading session we are monitoring EURUSD for a selling opportunity around 1.05100 zone, EURUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.05100 support and resistance area.
Trade safe, Joe.
DXY Will Go Down From Resistance! Short!
Please, check our technical outlook for DXY.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 106.563.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 105.718 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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GOLD BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
GOLD is making a bullish rebound on the 4H TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 2,667.233 level.
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USD/CAD BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
The BB upper band is nearby so USD-CAD is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 1.405.
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USD/JPY SHORT FROM RESISTANCE
Hello, Friends!
USD-JPY uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 151.868 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the USD/JPY pair.
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GBPJPY Potential DownsidesHey Traders, in today's trading session we are monitoring GBPJPY for a selling opportunity around 194.900 zone, GBPJPY is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 194.400 support and resistance area.
Trade safe, Joe.
Dow Jones Breakout and Potential RetraceHey Traders, in today's trading session we are monitoring US30 for a selling opportunity around 44,900 zone, US30 was trading in an uptrend and successfully managed to break it out and currently is in a correction phase in which it is approaching the retrace area at 44,900 support and resistance area.
Trade safe, Joe.