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Technical Analysis

SasanSeifi| Will It Break Above the $2685 High?Hey there, ✌ In the daily timeframe, as seen on the chart OANDA:XAUUSD , gold's price started an upward movement from the $2300 range and reached a new all-time high (ATH) around $2685. After hitting this peak, the price entered a consolidation phase with a slight pullback that extended to the $2600 area. Currently, we see that the price has rebounded from the $2600 level due to increased demand, pushing it higher towards $2,657. The medium- and long-term outlook leans towards further upward movement, with potential targets at $2700, $2725, $2750, $2790, and $2,800. In the daily timeframe, maintaining the support range between $2600 and $2570 is crucial for sustaining the bullish trend. A likely scenario is that if the price stabilizes above $2660 and $2675, it could break the previous high and move toward the mentioned targets, as illustrated in the chart. To gain a better understanding of the future trend, it's important to monitor how the price performs in the early days of the market. Additionally, if bullish momentum weakens and confirmations appear in lower timeframes, there could be a chance of range-bound movement or a retracement towards the support levels. This analysis is my personal viewpoint and not financial advice. If you found this helpful, please like and comment – I’d love to hear your thoughts! Happy trading! ✌😊
OANDA:XAUUSDLong
by SasanSeifi
"EUR/USD Approaching Critical Support1. Key Support and Resistance Levels Resistance: The price has previously faced resistance near 1.10409 and 1.09127 (marked by horizontal purple lines). The recent peak suggests that 1.10409 is a strong resistance level where sellers may exert pressure. Support: The price has bounced around the 1.07532 level, which acts as a key support zone. This level aligns with the trendline support, making it a crucial area for potential bullish reversals. 2. Descending Triangle Pattern The chart shows a descending triangle pattern, formed by the downward-sloping resistance line and the trendline support. This setup typically indicates bearish momentum, where a breakdown below the support could lead to further downside movement. 3. Moving Averages Multiple moving averages (e.g., 20, 50, and 100-day) are visible, showing a recent bearish crossover. The price currently trades below these averages, hinting at continued bearish sentiment. 4. Volume Analysis Recent volume bars suggest higher selling pressure, especially as the price approaches the support region. Increased volume during a breakdown could confirm further bearish action. 5. Potential Scenarios Bearish Breakdown: A close below the 1.07532 level, accompanied by strong volume, could lead to a continuation of the downtrend, possibly targeting the next support zone around 1.06500. Bullish Reversal : If buyers step in at 1.07532 and the price rebounds, a move towards 1.09127 could be possible. Summary This EUR/USD chart hints at a bearish bias as it approaches a significant support level. Traders may look for a confirmation of direction, as a breakdown could signal further declines, while a reversal at support might lead to a short-term rally. Disclaimer: This is for educational purposes and not financial advice.
by AngshumanSaikia
Genus Power Infra: Bullish Breakout – Buy now for higher targets🔍 Technical Analysis: NSE:GENUSPOWER (NSE: GENUSPOWER) 1️⃣ Overview: 📈 Current Market Price (CMP): ₹430.15 (+2.26%) 🗓️ Date & Time: As of 15:25 (UTC+5:30) 🕹️ Chart Analysis: Daily (1D) 2️⃣ Technical Indicators Overview: 📊 Moving Averages: 🟢 50-Day EMA: ₹399.89, currently acting as a support zone. 🔵 200-Day EMA: ₹332.71, indicating the longer-term trend remains positive. 📦 Volume Profile: Strong demand visible between ₹360-₹380, suggesting robust buying interest at lower levels. 📈 MACD: Bullish crossover with the MACD line above the signal line, implying momentum is still positive. MACD Line: 3.76 Signal Line: 1.04 Histogram: 📈 Positive, indicating rising momentum. 📉 Williams %R (14): At -5.59, signaling overbought conditions, which might result in a short-term pullback. 💹 Stochastic RSI (14, 3): At 100, indicating strong bullish momentum, though caution is advised as overbought zones can precede minor corrections. 🟣 Parabolic SAR: Positioned below the price, supporting the ongoing uptrend. 3️⃣ Fibonacci Retracement Levels: The stock is retracing from the swing high of ₹451.55 to the swing low of ₹351.05. 📐 38.2% Retracement: ₹399.30 – Strong support. 📐 50% Retracement: ₹414.05 – Intermediate resistance. 📐 61.8% Retracement: ₹428.80 – Currently breached, signaling bullish strength. 📐 78.6% Retracement: ₹442.80 – Next resistance level to watch . 4️⃣ Rationale for Buy: 🚀 Breakout above 61.8% Fibonacci Level: The breach above ₹428.80 indicates a potential continuation of the upward move. 🔥 Bullish Momentum: MACD crossover, Stochastic RSI in overbought territory, and Parabolic SAR below the price all point to a continuation of the bullish trend. 📈 Volume Surge: Increased volume activity supports the bullish move, suggesting robust buying interest. 📦 Demand Zone: The significant demand between ₹360-₹380 acts as a strong base, providing a good risk-reward opportunity for entry. 5️⃣ Recommendation: 🔔 Action: Buy 🎯 Target 1: ₹442.80 (78.6% Fibonacci Level) 🎯 Target 2: ₹451.55 (Recent Swing High) 🛑 Stop Loss: ₹414.05 (50% Fibonacci Level) to protect against downside risk. 6️⃣ Risk Management: 📥 Entry Strategy: Consider entering near the current price or on minor pullbacks towards the 61.8% retracement level (₹428.80). ⚖️ Risk-to-Reward Ratio: The trade setup offers a favorable risk-to-reward ratio of at least 1:2 based on defined targets and stop-loss levels. ⚠️ Disclaimer: This analysis is based on technical indicators and market patterns and is intended for educational purposes. Market conditions may change, and this is not investment advice. Please conduct your own research or consult a financial advisor before making trading decisions. #GenusPower 🚀 #TechnicalAnalysis 📊 #StockMarket 📈 #FibonacciLevels 📐 #SwingTrading 💹 #MACD 🔵 #StochasticRSI 💠 #VolumeProfile 📦 #BuyRecommendation 🛒 #IndianStocks 🇮🇳 #NSE 📉 #FinogentSolutions 💼
NSE:GENUSPOWERLong
by finogent
EUR/USD: Extending the declineHello dear friends. Overall, EURUSD has made a significant recovery from last week with a price increase beyond 1.0800 after data from the US showed that Durable Goods Orders fell 0.8% in September. However, unfortunately, the pair quickly fell back and closed the fourth consecutive week in negative territory, weakening EURUSD significantly. In addition, from the 1-hour chart, the pair has broken the rising trend line and the price wedge has been broken, suggesting that the bears are likely to continue to gain the upper hand without any significant reversal, as shown by the flat 34.89 EMA.
Short
by Bentradegold
Gold Near Key Breakout Level at 2,758Gold is in an exciting phase, maintaining its upward trend above crucial EMA levels, signaling that the long-term momentum remains strong. The resistance level at 2,758.717 is acting as a challenging ‘wall’—can gold break through to initiate a powerful rally? If successful, this could be a golden opportunity for investors to catch the next wave of growth. However, if gold fails to breach this ‘wall’ and reverses, the support level at 2,716.756 and the trendline will serve as a solid ‘fortress,’ where prices may rebound. Don’t miss out—sometimes, a little alertness is all it takes to capture the trend and turn volatility into profit! News update: On October 25, gold saw some profit-taking as both the U.S. presidential election and Middle East tensions provided support for its price.
OANDA:XAUUSDShort
by Zola_Hello
EUR/USD: hits new 16-week lowEUR/USD is trading around 1.078 and the technical picture remains heavily bearish after failing to break above the 1.0800 resistance level. The decline comes as Fibre falls sharply ahead of Thursday’s new round of Purchasing Managers’ Index data. ECB officials have played down economic concerns, reiterating the need for caution when considering future rate cuts. As seen on the 1-hour chart, it can be seen that the price remains below the 34, 89 EMAs and the price wedge has not been broken, suggesting that the downtrend is not over yet. This usually allows sellers to still gain the advantage of a more bearish reversal in the near term, potentially reaching lower levels around 1.0740. Happy trading.
Short
by Bentradegold
1
XAUUSD Adjusts But Maintains UptrendThe XAUUSD chart shows that the price is adjusting after hitting the resistance level of 2,758 USD, but the uptrend remains dominant. The key support zone is around 2,712 USD, where the price has bounced back in previous corrections. The EMA(34) and EMA(89) continue to provide important technical support, with the short-term EMA above the long-term EMA, reinforcing the uptrend. Despite selling pressure, buying interest is still protecting this support level. If this support holds, the price may recover and retest the resistance level. Concerns over the U.S. elections and expectations of rising interest rates supporting the dollar could put pressure on gold.
OANDA:XAUUSDLong
by Zola_Hello
1
Nik by Dl InvestHello community, A little daily analysis in log scale, because I use the "Adaptive Trend Finder" and "Price Action Ultimate" indicator. The channel is bearish. I drew a Fibonacci retracement in log, to see if there is a golden zone. If the theory works, we have a target around $90.62. Nothing says that the title will rebound, change of CEO, so we can hope for change in a while. Make your opinion, before placing an order. ► Thank you for boosting, commenting, subscribing!
NYSE:NKELong
by DL_INVEST
Gold vs Commodities: Monitoring Relative Strength in Hard AssetsIntroduction: The commodity sector spans various areas, including energy, agriculture, livestock, and metals. However, focusing on the most promising areas can lead to more effective investment strategies. One key ratio to monitor is gold AMEX:GLD versus a broader commodities basket (DBC). This ratio is especially relevant for those interested in hard assets, as it highlights where strength lies in the commodity space. Currently, this ratio favors gold as the stronger performer. Analysis: Relative Strength: The GLD-to-DBC ratio offers critical insights into the relative performance of gold versus other commodities. Gold has been outperforming the broader commodity basket, indicating its resilience as a hard asset. Technical Pattern: Earlier this year, the ratio broke out of a rounding bottom pattern, signaling a bullish trend in favor of gold. Even before this breakout, the trend was clear through a series of higher highs and higher lows, reinforcing the strength of gold relative to other commodities. Gold’s Performance: Gold remains near its all-time highs, while other commodities continue to lag behind. This highlights gold’s resilience in the face of broader market uncertainties. Conclusion: Gold’s resilience compared to other commodities makes it a standout performer in the current market environment. The recent breakout in the GLD-to-DBC ratio and the continued pattern of higher highs and higher lows support the bullish case for gold. Traders focused on hard assets should monitor this ratio closely to gauge potential shifts in strength. What’s your outlook on gold versus other commodities? Share your insights below! Charts: (Include relevant charts showing the GLD-to-DBC ratio, the rounding bottom pattern, and the higher highs and higher lows trend) Tags: #Gold #Commodities #HardAssets #GLD #DBC #TechnicalAnalysis
AMEX:GLD
by Richtv_official
EURUSD: to the point of important supportEUR/USD has restored half -hearted on Thursday, restoring four tenths of percent and increasing over 1,0800. Despite the recovery on the weekend, Fiber still dropped sharply compared to the recent high level after a decrease of more than 4% from top to bottom compared to the highest bid at the end of September nearly 1,1200. Technically, the recent decline has followed the principle of DOW theory, showing that after a large decline, the market will often tend to adjust. In this scenario, EURUSD is likely to retreat to Fibonacci levels 0.5 to 0.618, in the range of 1,09307 to 1,09836. This will be an important resistance area, where the price may slow down or have a selling pressure again. What do you think of the recovery momentum at the present time?
Long
by Bentradegold
Bitcoin ATH 80K – A Technical Analysis UpdateIn my initial analysis on October 8, I projected Bitcoin's path toward an all-time high (ATH) of 80K based on a thorough review of Fibonacci retracement levels, trendlines, and market indicators. Now, with Bitcoin moving as anticipated, it's time for an update on the technicals and what we can expect going forward. Key Technical Analysis: Fibonacci Retracement Levels: The 0.618 retracement level (~66,666 USDT) has proven to be a strong support zone. Bitcoin tested and respected this level, reinforcing the bullish momentum. With the price hovering around 66K, the next key level to watch is 71,068 USDT (0.5), followed by 75,471 USDT (0.382), which will confirm the trajectory towards the ATH. Ascending Trendline Support: The upward trendline I marked earlier has continued to act as a solid support. Price movements above this trendline signal continued bullish momentum, showing that buyers are confident at higher levels. Channel Breakout: Bitcoin broke out of its consolidation phase (March to September 2024) in line with the analysis. The breakout from the descending channel is significant, pointing to a sustained bullish trend. This kind of movement typically precedes higher price targets, which aligns with my projection toward 80K. Moving Averages (MA): The 50-day and 200-day moving averages are still in a positive alignment, offering support for the upward movement. As long as Bitcoin stays above these levels, the bullish case remains strong. Volume and Market Sentiment: Volume has remained relatively steady with no significant drops, which indicates there is still buying pressure in the market. This confirms that the breakout is supported by market demand and not just speculative moves. Conclusion and Next Steps: The technicals remain solid, and Bitcoin is following the path laid out in my initial analysis. With 71K and 75K as the next critical levels, the target of 80K remains highly achievable. However, while the long-term trend is bullish, traders should continue to monitor key support and resistance zones to confirm the strength of the move. In summary, the chart speaks for itself. The breakout, moving averages, and Fibonacci retracements are all supporting the case for a new ATH. Stay focused on the broader trend and be prepared for the continuation of this bullish cycle. Stay updated for further developments.
Long
by khaledxab
XRP Price Analysis: Potential 20% Drop Amid Key Support LevelsXRP is currently trading within a box pattern, with a lower high suggesting a higher probability of a downside breakout. If the crucial support level of $0.5213 is lost, there is a 20% potential drop in price, targeting $0.4164. If you are holding XRP, you might consider selling, or alternatively, you could take a short position upon a clear break of the $0.5213 level. Given the importance of this support, a sharp decline is expected if it breaks. Keep an eye on this critical zone for any significant moves.
Short
by saeedalipour93
Nat Gas: Heating Up into the WinterBrief Overview on Natural Gas Natural Gas is a commodity generally traded on the premise of weather forecasts indicating cooler or warmer seasons. This allows traders to speculate on demand for the product as it generally trades higher with cooler temperatures. Today we are looking at the weekly chart. Thesis: Technical Analysis Pointing to a Bounce This analysis is mainly focused on the lasting demand zone that Natural Gas time and time again respects and typically bounces from. The weekly chart points to the likelihood that the R/R is favorable for a long position at these levels in the 2.20's. Not only do we see NG tap back into this heavy demand zone, but we also can see a Cup & Handle on the weekly chart signaling potential greater upside. Demand Zone offers strong R/R as it dips back in to these levels. Cup & Handle can represent even further upside, but will rely on the initial rebound to prompt the possibility of it playing out. There is also a trendline (not pictured) that is supporting the current bounce we are seeing today from the 2.18/2.19 level. It is important to note that the commodity has been seeing higher lows since the Spring. Lastly, a tap of fundamentals play into this idea as well. Though winter demand is always priced in, this year forecasts have repeatedly painted the picture that this winter will be historically mild. Due to these forecasts implying less seasonal demand for Nat Gas, a shift in the shorter-term and more accurate models as we approach the winter season will sharply move the price of Nat Gas and represents that the current price is truly pricing in a very mild winter. This basis supports the idea of great R/R on this LONG trade idea. Disclosure I am currently in a long position in Natural Gas after entering on the Friday (10/18) Close My position includes: AMEX:UNG Credit Spread 13/12P , AMEX:BOIL common shares If this thesis holds up, I would plan to roll my credit spread contracts into further expirys Thanks for reading! Not Financial Advice
NYMEX:NG1!Long
by ZachSap
GBPJPY Is Nearing Strong Resistance ZoneGBPJPY has been in a strong bullish phase, but five-wave bullish cycle within wave (5) up from 2022 swing lows can be completed after recent strong reversal down back below channel support lines. In fact, drop from the high is impulsive on a smaller time frame, so it’s wave A that stabilized near 178 support area as expected. As such, current rise is corrective, ideally B wave that can be still in progress as a bigger correction before a continuation lower for wave C. Ideal resistance is at that channel line, from the outside, around 198 – 200 area. GBPJPY is looking for a higher resistance within wave C of (B) in the 4-hour chart, as it can be now breaking out of subwave »iv« triangle into subwave »v« of C, so keep an eye on next strong 198 – 200 resistance zone, from where bears for a higher degree wave (C) may show up.
Short
by ew-forecast
USDJPY Analysis for 24/10/2024: A Slightly Bearish Bias AheadAs we analyze the USDJPY currency pair on October 24, 2024, current market conditions and fundamental factors suggest a slightly bearish bias. This article delves into the key drivers influencing this outlook, allowing traders to make informed decisions in this dynamic market environment. Current Market Conditions The USDJPY pair has shown a mixed performance recently, with fluctuations influenced by both U.S. economic data and developments in Japan. Traders are closely watching for signals that could dictate the pair’s movement, particularly as we approach critical economic indicators. Key Fundamental Drivers 1. U.S. Economic Data: Recent economic data from the U.S. has been a mixed bag. While there have been positive signs in job growth and consumer spending, inflation remains a concern. The Federal Reserve’s stance on interest rates continues to be cautious, signaling that any aggressive rate hikes may not be imminent. This dovish sentiment can weigh on the U.S. dollar, creating a bearish outlook for USDJPY. 2. Japanese Economic Performance: Japan's economy is showing signs of resilience, with recent data indicating stronger-than-expected growth. The Bank of Japan (BoJ) has maintained its accommodative monetary policy, but there are discussions about potential adjustments in response to rising inflation. Should the BoJ signal a shift towards tightening, this could support the Japanese yen and contribute to a bearish trend in USDJPY. 3. Geopolitical Factors: Ongoing geopolitical tensions and global economic uncertainty can lead to safe-haven buying of the yen. Any escalation in conflicts or adverse developments in trade relations may strengthen the yen further, enhancing its appeal against the U.S. dollar. 4. Market Sentiment and Technical Indicators: Sentiment in the forex market is essential. Currently, there is cautious optimism among traders regarding the yen due to the previously mentioned economic performance indicators. Additionally, technical analysis reveals that USDJPY is nearing resistance levels, suggesting a potential reversal. If the pair fails to breach these levels, it may retreat, reinforcing a bearish bias. Conclusion Considering the current fundamental factors and market conditions, the outlook for USDJPY remains slightly bearish for today. Traders should monitor upcoming U.S. economic data releases and any announcements from the Bank of Japan that could further impact this currency pair. Keywords: USDJPY analysis, bearish bias, forex market, U.S. economic data, Bank of Japan, Japanese yen, geopolitical tensions, market sentiment, technical analysis.
Short
by PERFECT_MFG
XAUUSD Adjusts With Key Support at 2,722XAUUSD is currently in a correction phase after reaching a peak of 2,758.007. At present, the price is likely to test the critical support around 2,722, supported by the EMA 34 and EMA 89, indicating that the uptrend could remain intact if the price holds above this level. If the price does not break this support, it is highly likely to rebound towards the resistance at 2,758.007. The RSI, currently at 57.40, suggests the market is in a neutral zone with no signs of being overbought or oversold. In recent news, gold prices dropped over 1% after reaching the peak on October 23rd due to a stronger USD and rising US bond yields, despite safe-haven demand driven by the upcoming US presidential election and the Middle East situation.
OANDA:XAUUSD
by Zola_Hello