EURUSD ---> Correction is getting stronger. Next is 1.040CAPITALCOM:EURUSD testing a key support level after a free fall. Short sellers continue to resist, relying on key fundamental aspects of the global economy.
The US Dollar strengthened following the release of last week’s Initial Jobless Claims data. Specifically:
US Initial Jobless Claims fell to 213,000 for the week ending November 15th, down from 219,000 (revised from 217,000) in the previous week and below the forecast of 220,000. This development has sparked speculation that the Federal Reserve's pace of rate cuts may slow down.
Attention now shifts to the Manufacturing and Services PMI from the Eurozone, Germany, and the United States...
Technically, EURUSD confirms the descending trend channel, providing us with a primary trend to monitor in our trading decisions. From a technical perspective, gold is attempting to break out of its main range, breaching a key support level. If there is a false breakout around the 1.047 level, a minor correction toward resistance may form. However, with the price testing strong support, we may see a false breakout and a corrective move to the areas to watch at 1.048-1.049 (0.618 fib line) before the downtrend continues.
Signals
US100 Is Bullish! Long!
Please, check our technical outlook for US100.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 20,793.1.
Taking into consideration the structure & trend analysis, I believe that the market will reach 21,500.9 level soon.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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NZDUSD Is Very Bearish! Sell!
Here is our detailed technical review for NZDUSD.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 0.582.
Considering the today's price action, probabilities will be high to see a movement to 0.578.
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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EUR-USD Strong Bearish Breakout! Sell!
Hello,Traders!
EUR-USD is trading in a
Downtrend and the pair
Broke the key horizontal
Level of 1.0450 and the
Breakout is confirmed
Which reinforces our
Bearish bias and makes
Us expect a further
Bearish continuation
Sell!
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Lingrid | AUDNZD consolidation EXPANSION marketFX:AUDNZD has been in a consolidation phase since October, but the recent breakout and close above this range. This price made higher lows and higher highs, aligns with a bullish trend, suggesting a continuation of upward momentum. The support level at 1.11000 has been respected on two occasions, which emphasizes its importance in the current price structure. I expect a potential breakout-pullback-continuation scenario. If the price respects this support during the retest, we could see a bullish move follow. My goal is resistance zone around 1.12300
raders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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📊 In this chart, the classic descending triangle pattern has been broken and it seems that we will see a strong uptrend after retesting the support level.
✅ BUY ZONE: $2,517
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EURCAD shortShorts on EURCAD could be a nice play depending on how we approach our supply zone. I have 3 zones currently marked out but the first one was a previous structure point and had a little bit of accumulation so I have a higher confidence in that one holding. Will be waiting for lower timeframe entry after price arrives at the zone.
GOLD Will Move Lower! Sell!
Take a look at our analysis for GOLD.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 2,715.97.
Considering the today's price action, probabilities will be high to see a movement to 2,656.74.
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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NZDCAD Is Bullish! Buy!
Please, check our technical outlook for NZDCAD.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 0.814.
Taking into consideration the structure & trend analysis, I believe that the market will reach 0.818 level soon.
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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GBPNZD Is Very Bullish! Long!
Here is our detailed technical review for GBPNZD.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 2.147.
The above observations make me that the market will inevitably achieve 2.153 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
Like and subscribe and comment my ideas if you enjoy them!
NZD-CAD Locally Oversold! Buy!
Hello,Traders!
NZD-CAD keeps falling down
And the pair is locally oversold
So after the pair hits the horizontal
Support level of 0.8120 we will
Be expecting a local bullish
Correction and a move up
Buy!
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NZD-USD Bearish Breakout! Sell!
Hello,Traders!
NZD-USD is trading in a
Downtrend and the pair
Made a bearish breakout
Of the key horizontal level
Of 0.5850 so as we are
Bearish biased we will
Be expecting a further
Bearish move down
Sell!
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