USDZAR ForecastWe're trading in a double correction pattern in the weekly timeframe. We have the wave W and X waiting for wave Y completion.
Zigzag
GOLD → The market is targeting 0.618 fibo ($1895) OANDA:XAUUSD is entering the empty range from 1885 to 1915. The only level the market will still be able to interact with, before reaching the 1915 target, is in the 1895 area - a strong liquidity area
Today we see a break of the resistance at 1885 after a small retest. A momentum is formed, which tells us about a further target in the form of 1895 resistance, formed back in June 2023. It is worth paying attention to this area, because here is also 0.618 Fibo, which is an important level for the market. Since there are no important areas of resistance and liquidity in the whole range of 1885 - 1915 except this zone, it is here that some struggle on the market may take place and a correction to the support may be formed before further growth.
The market now has a strong fundamental component (economic news, crisis and war) - all this increases the interest to the metal, but it should be understood that the market cannot grow all the time, sometimes it will fall (correction). SMA 1H - strong support, and 4H - MA-200 will be tested in the medium term (in the area of 0.618 fibo)
Support levels: 1885
Resistance levels: 1895, local ascending line, SMA200
I expect continuation of growth to the mentioned resistance area from which a correction to support may follow before further growth to 1915
OANDA:XAUUSD COMEX_MINI:MGC1! COMEX:GC1! OANDA:XAGUSD COMEX:SI1! CAPITALCOM:US500 TVC:DXY
Regards R. Linda!
IOTXUSDT - IoToX is stronger amid a weak market BINANCE:IOTXUSDT is proving strong amid a weak market and the fall of the flagship cryptocurrency. A dense pre-breakout formation is forming on the chart, which can give a great move if a number of conditions are met
BINANCE:BTCUSD is declining, the market failed to strengthen above 28000 and the price is falling to 26000. On the background of the 5-day fall of the flagship IoTeX / Tether feels quite confident. Growth and resistance breakout is formed. Consolidation formed under resistance will be enough for resistance breakout and active momentum formation. Altcoins periodically get potential at the transition of capitals between assets, which is most likely formed and IOTX. Earlier MA-50 was broken and the price is preparing to test MA-200 in the near future. The breakthrough of the second one will give a good leverage for growth. Targets in the medium term should be considered 0.02386 and 0.03036.
Support levels: previously broken figure line, 0.01610.
Resistance levels: 0.01866
I expect consolidation above the range and subsequent breakout of 0.01866 resistance.
Regards R. Linda!
🥇GOLD - The bull market is ready to strengthen further GOLD continues its upward path. The price breaks through 1877 and consolidates above the level, which gives the market new upside potential to 1900
TA on the high timeframe:
1) The dollar index is in a falling phase, which gives gold upside potential
2) Gold failed to reach an important target and thus will continue its rise
TA on low timeframe:
1) Breakout of 1877 and consolidation above the level gives us a signal
2) Potential for a new high is forming.
3) I am waiting for growth and reaching 1900 in the medium term.
Key support📉: 1877
Key resistance📈: 1885, 1890, 1900
GOLD → The market is aimed at resistance retest OANDA:XAUUSD enters the 1857-1877 range, consolidates above the support and makes a new jump. Yesterday I talked about strong fundamentals, relative to technical analysis and what we see is a breakout of said resistance.
Today PPI - one of the inflation indicators is published and at 18:00 GMT FOMC Meeting Minutes - most likely the information trend of previous periods will be preserved. At the same time TVC:DXY is in the phase of correction to the support area, the publication of bullish news for the dollar may resume further growth of the index, which will partly affect the gold. In the nearest future the market may test the resistance of 1877, after which the price may roll back to the support. In the long term, the market may trade inside the sideways range to determine the further scenario, but it should be understood that gold is bought up during the war. In the absence of further escalation of the conflict, the price may decline, but not significantly: the longer-term factor - expectations of the end of the Fed rate hike cycle - is also having an impact.
Resistance levels: 1874, 1877.5
Support levels: 1857.7
In the future, I expect a retest of resistance and subsequent rebound with further forging of the sideways range
OANDA:XAUUSD COMEX:GC1! COMEX_MINI:MGC1! OANDA:XAGUSD TVC:DXY CAPITALCOM:US500
Regards R. Linda!
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!
GOLD → Fundamental is stronger than the technical part OANDA:XAUUSD is making a new jump. Actually, we talked about it yesterday. Geopolitics affects the interest in gold and the price of the metal. The trend resistance is broken and the price changes the local trend.
Let's take a look at the D1 chart . There is a rather interesting and at the same time controversial situation, in which fundamental factors can be stronger than technical ones.
The price is approaching the retest of a strong resistance line, which has 5 serious confirmations over the last year and a half, so we should wait for a fall when this line is retested.
BUT! At the same time we have strong fundamental factors, on the side of which are such technical nuances as: local consolidation, resistance breakout and candlestick pattern, which hint at further growth.
Also, on the D1, the price breaks the level of 1856.4 and on Monday the session closes above this area. On the local chart, the price breaks up, updates the local high and forms a retest of the range support. By the way, relative to this support, I expect the entry point forging. The price closing above one of the mentioned lines will give us a bullish potential
Support levels: 1857.7, 1856,4, 1846,3
Resistance levels: 1863.7, 1877.56
In the long term I expect the growth to continue, but after a local correction. Targets are indicated on the chart.
OANDA:XAUUSD OANDA:XAGUSD COMEX:GC1! COMEX_MINI:MGC1! COMEX:SI1! CAPITALCOM:US500 TVC:DXY
Regards R. Linda!
🥇GOLD - The market may strengthen the price GOLD has been rising since the opening. The reason is the conflict in the Middle East and the fundamental factors of last week.
Consolidation is forming and most likely the price may test the support before further growth.
TA on the timeframe:
1) The reason for the rise today is the geopolitical factor. And as we know, in all crisis situations there is a growing interest in gold.
2) False breakout of strong 0.5 fibo level. FB may be followed by strong growth
TA on the low timeframe:
1) Price is consolidating in a narrow range. Most likely a strong impulse may be followed by a retest of 0.5 fibo support
2) At the moment people still do not know what to do and are preparing to buy gold, but before further growth the market can fool the player and take out stoplosses, which are below 1846.
3) waiting for a rise to 1878
Key support📉: 1846, 1840
Key resistance📈: 1853
💱NZDUSD - A retest of 0.59852 could break the level NZDUSD is approaching resistance within consolidation. After a false breakdown a signal is formed that the level may be broken on retest. Target 0.60500
TA on high timeframe:
1) We do not see a fall after the support breakout
2) Buyers are holding back the price and may return to the global range
3) market is interested in 0.60500 area due to imbalance
TA on the low timeframe:
1) A retest of 0.60438 is forming
2) If the level is broken, an impulse may be formed.
3) I am waiting for the breakout and growth to 0.60500.
Key resistance📈: 0.59852
Key support📉: 0.59600
XTZUSDT → Breaking resistance, entering a new rangeBINANCE:XTZUSDT tried to break the support at 0.708 and let the price go lower, but at some point the market held the area, forming a local bottom. After a false break of support, the price breaks consolidation resistance
At the moment the market is testing the possibility of transition from the consolidation phase to the phase of realization of the accumulated potential, which can be accompanied by distributive growth. The price fixing above 0.708 level will confirm the entry into the range (new corridor) and in this case Tezos/TetherUS will open for itself the way to the setup resistance. The 3-4 month accumulation in the coin can give us a pretty good medium-term potential, within which the market can hit targets such as: 0.921 and 1.259.
The price is breaking MA-50 and aims to test MA-200.
Support levels: 0.708, 0.633
Resistance levels: 0.742, 0.921
In the long term, I expect the bulls to consolidate the market above 0.708 and form a distribution towards 0.921
Regards R. Linda!
🚧Bitcoin will Go Up Again🚧 Road Map(1-Hour)🗺️!!!As you can see, the price is in a parallel channel, which means that the price can go up and down in this channel. Now the price is completing its downward waves(ABC) and after that the price can rise to the top of the channel.(5TH Bullish waves).
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GOLD → New reasons for price movementOANDA:XAUUSD has been forming a small gap since the opening of the session (the situation may differ at different brokers) and essentially continues the move from Friday's fundamental leverage
There was quite a lot of news over the past weekend, including a serious conflict in the middle east. Adding to the bullish narrative in the TVC:DXY is another geopolitical factor, the reaction can be seen in the chart below left. The gold market has continued to rally since Friday, but surprisingly following the USD, but there is a reason for this. Since gold, according to most people, is the ideal defense against international instability, the geopolitical factor can raise the prices of this asset, in addition, gold is at favorable levels for buying (not to be confused with short-term trading). From the technical point of view we are interested in the area of 1857 - 1846. The market is forming a consolidation before moving in one direction or another. The price is squeezed between the broken MA-200 and the descending resistance. A breakout of one of the boundaries will provide momentum. (The trading strategy can develop according to two scenarios: resistance breakout or false breakout)
Support levels: 1846.3
Resistance levels: 1857.7
The descending resistance line and 1857.7 level will be important for buying. 1846.3 level will be important for selling. Consolidation above or below these levels will form the potential for a move in one direction or the other
OANDA:XAUUSD OANDA:XAGUSD COMEX_MINI:MGC1! COMEX:SI1! COMEX:GC1! TVC:DXY CAPITALCOM:US500
Regards R. Linda!
GBPJPY → Bearish reaction to trend resistance FX:GBPJPY is forming a retest of the descending channel resistance, forming a post facto logical reaction to the mentioned zone. At the moment, the downtrend is playing a relevant role
Fundamentally, we are living a very unstable time. Geopolitics has been sounding too much lately. Fund after a small bullish correction gives signals to further weakening on the background of strengthening of the TVC:DXY , which also negatively affects the currency pair analyzed by us. The rebound from the resistance zone is formed and the price returns under the level of 181.96. Consolidation of the price below this area will form a bearish potential, which can quickly bring the price down to 179.46 or 177.4. Bears are showing strength at the moment. The price is between the moving averages, consolidation may last for some time, but in the long term continue the realization of the previously formed bearish signal.
Support levels: 180.9, 179,46
Resistance levels: 181.96
In the long term, I expect the rate to continue to decline towards these targets.
Regards R. Linda!
Bitcoin is Bullish now and many Traders don't see it!+PRZ&TargetBitcoin can reach 30k ,price completed its five ascending waves, also completed its ABC correction wave , and now it is time for the five ascending waves to begin.
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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!
USDCHF ForecastWe're in the wave 4 phase, we can anticipate a wave 5 completion soon. The wave 4 often bounces at 38,2 level but also keep in mind of the 50% level. If wave 4 retrces at 38,2 we can expect wave 1 and 5 to be equal.
EURUSD → Resistance Retest. Waiting for NFPFX:EURUSD is retesting the trend resistance. The liquidity area may be tested before the publication of NonFarm Payrolls, which will form a surge in volumes
At the moment, from a fundamental point of view, EUR will weaken further as USD ( TVC:DXY ) is in a strong bullish trend amid tight monetary policy. Today's data will not change the fundamental background much, but it may affect it relatively.
From the technical analysis point of view, I am waiting for a retest of the trend resistance, possibly the price may strengthen to 1.0635, but with a medium-term downside prospect. The price is consolidating above MA-50 (on H4), most likely in the near future, before the surge of volumes, the market may go a little deeper (up). Local volume accumulation is above 1.057 and 1.0585.
Support levels: 1.05000, 1.0459
Resistance levels: upper channel boundary, 1.057 and 1.0585.
I am waiting for a retest of the resistance area followed by a medium-term decline to 1.05000 or 1.035
Regards R. Linda!
EURGBP ForecastThe price is in a bearish zigzag correction pattern. Often times waves A and C are equal so we can expect wave see to further drop as time progresses.
The wave C is a potential Ending Diagonal pattern the wave 2 is most likely over as we touched the 61,8 Fibonacci retracement level.
🥇GOLD - Bearish market situation. We are waiting for a fall GOLD is forming a retest of support after a long consolidation. From the level of 1815 a small bounce may be formed before further decline, or a break of the level with further consolidation below 1815, which will form a selling entry point.
TA on the high timeframe:
1) Candlestick analysis implies further decline
2) Strong consolidation near an important level - readiness for a decline
3) No strong bullish pullbacks yet. Buyers are weak
TA on the low timeframe:
1) Support retest may provide a bounce for a subsequent retest
2) Another support retest will lead to support breakout.
3) The main target at the moment is to break the support and go down to 1800.
Key resistance 📈: 1824, 1828
Key support 📉: 1815, 1807.9
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!
AAVEUSDT → The stage is set for a breakthrough of resistance BINANCE:AAVEUSDT is forming a retest of the wedge resistance amid the cryptocurrency market strengthening. When breaking through the resistance of 72.4, the market may move to realize the accumulated potential
In terms of technical analysis, AAVEUSDT forms a neutral correlation following BINANCE:BTCUSD . The market reacts to all the movements of the flagship, therefore, if the one starts to strengthen, AAVE will grow and vice versa. On the chart, there is a large enough potential for a market reversal. Consolidation is formed within the flat and between the garnets of the wedge. Global growth of the market is separated by resistance 72.4 and 91.3, when the price goes beyond it the active growth will start. This is acceptable in medium-term and long-term frames. Our task at the moment is to follow the specified area and wait for the breakout of resistance. Moving averages indicate the formation of accumulation.
Support levels: 64.75, 60.3, 55.2
Resistance levels: 72.4
In the long term I expect a retest of resistance with further growth towards 91.3.
Regards R. Linda!
GOLD → Market fades before the news OANDA:XAUUSD is forming a consolidation in the liquidity area range. In this case, there can be a lot of traps before moving to one side or the other, as this is one of the essence of consolidation
The fundamental backdrop for gold is still negative, as the TVC:DXY continues to strengthen and seeks further upper targets, which will have a negative impact on gold. There are a number of important news releases today that are worth paying attention to. I don't think they will change the main fundamentals much, but there will be a storm in the market. Before the main fall, which may continue on the background of the dollar strengthening, the gold market, or rather the market maker may raise the price to 1830-1846 before the further fall. A huge pool of liquidity has formed near these zones, and since the price cannot fall or rise only, we may see a correction in the near future. My mood on gold is bearish, as well as the mood of the market, which by the way is indicated by the moving averages.
Support levels: 1816.9, 1815.3, 1812
Resistance levels: 1828, 1830, 1833
Since there is news ahead, the market is going into consolidation. Lower volatility before the storm. Trade carefully on the news, or better not to trade at all and wait until the market calms down
OANDA:XAUUSD COMEX_MINI:MGC1! COMEX:GC1! OANDA:XAGUSD COMEX:SI1! TVC:DXY
Regards R. Linda!
💱EURUSD - A correction signal is generatedEURUSD is forming a local false breakout. The base of the pattern "double bottom" is the level of 1.049 and we see a breakout (return) of this line. In the near future a correction may be formed after which the local growth will continue. But we should not forget - the global trend is bearish
TA on the high timeframe:
False breakout of resistance. If the price returns beyond 1.0536 a strong rebound will be formed
The liquidity area interesting for the market appears - 1.06000
TA on the low timeframe:
False breakout will form an imulse.
A correction back to support may be formed, which will form an entry point
Buy entry point could be 1.0490, 1.0499.
Key support📉: 1.0490
Key resistance📈: 1.0560, 1.05900
