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EURJPY → Consolidation. What's next? Growth or decline?FX:EURJPY tests resistance and forms a false breakout, but now the price is stuck inside the range and forms consolidation on which the further scenario depends. On D1 the price stops at one of the intermediate resistance levels - 161.4. Euro as well as Japanese Yen are getting weaker against the general background, the strong fall of Japanese Yen will squeeze the currency pair and apparently the growth of the pair after the correction may continue. On H4 the price tests resistance and forms a false breakdown, after which it forms a range between resistance 161.4 and the downtrend line (blue dotted line). It can be assumed that consolidation will continue until the price goes beyond it. Thus: 1) against the backdrop of the rising trend, we have a chance to see a retest of resistance from the previously broken trendline, which could lead to a breakout of 161.4 and further strengthening of the pair. 2) As the price has returned to the channel boundaries, the correction may extend all the way to the uptrend support, but after the breakout of the zone: 160.0 Support levels: 160.0 Resistance levels: 161.4 The further scenario at the moment depends more on who wins the market as part of the fight within the consolidation. The bulls should consolidate above 161.4 to continue rising and the bears below 160.0 to continue the correction. Regards R. Linda!
Short
by RLinda
3
GOLD → Retest of resistance inside the range at the downtrend FOREXCOM:XAUUSD continues to consolidate in the range of 2035-2020. It is likely that tomorrow's news may revitalize the market. Today the market continues to stand still, this can be seen in both the dollar and gold. Consolidation continues as the market is still uncertain with the future outlook, this could continue until tomorrow as tomorrow's news is Initial Jobless Claims, GDP , and the strength of these factors could determine the medium term outlook. Technically, GOLD is still in consolidation, but within a downtrend. For now, we continue to emphasize the in-range trading strategy (buy and sell from consolidation boundaries or strong levels). Let me remind you that the global trend is neutral and this is an ideal nuance for intra-range trading. And the local downtrend indicates the approximate market mood. Resistance levels: 2035, 2038, 2039.4 Support levels: 2025, 2020, 2018 A false break of support defines a local target in the form of resistance. A test of range resistance can form a sell signal. As long as the price does not break the trend or the range boundary, trading within this framework will continue TVC:DXY COMEX_MINI:MGC1! COMEX:GC1! TVC:GOLD Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
22
GOLD → Global trend is neutral, local trend is downward FOREXCOM:XAUUSD continues to stand still, as does the dollar. The market is uncertain due to many different nuances, mainly fundamental and political factors. On D1 we can see that gold does not have any definite trend at the moment, on H1 there is a downward range, but it plays a mediocre role. Since for now gold is in the range of 2052 (2035) - on top and 2018(2009) - on the bottom , in our case it is better to look for strong support or resistance levels to trade the strategy inside the range. There are no prerequisites for a breakout of the boundaries at the moment, so with a high degree of probability the market will continue to forge price movement within these boundaries. In the medium term, the further direction will be determined only by the breakthrough of one of the range boundaries, because now it is impossible to say clearly, as a symmetrical triangle is forming globally. Yes, there are prerequisites for both further growth and decline, but we need to wait for actual indications. Resistance levels: 2035, 2050 Support levels: 2025, 2020, 2018 The moving averages indicate sideways movement, which is what we see. An intra-range trading strategy (from strong levels or range boundaries) is recommended. The global trend is neutral and the local trend is downward. TVC:DXY COMEX:GC1! CAPITALCOM:GOLD COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
9
NZDUSD → Another retest of support could yield a breakout OANDA:NZDUSD is testing strong support at 0.6086, but the market is not forming a logical bounce or reversal. The price continues to test the support, which reminds us of the "Flag" pattern, the essence of which is the continuation of the movement. On the daily timeframe I marked the key level 0.61038. A false breakout is formed and there is no logical reaction relative to the level (no growth after a false breakout). Buying power is weakening on the back of the rising dollar. Strong bears are forming a pre-breakdown consolidation relative to the 0.6100 level. The dollar index is strengthening as regulators are further delaying a possible rate cut, which could technically strengthen the index, and that would negatively impact the forex . The moving averages, reversal pattern, retest and pre-breakout consolidation of 0.6100 - 0.6086 suggests a possible breakout of support and a decline in price towards 0.61000. Resistance levels: 0.6134, 0.6208 Support levels: 0.6100, 0.6084 I expect that on the background of pre-breakdown consolidation another support retest will be formed, which may break this line and the market will start to form a bearish impulse. Regards R. Linda!
Short
by RLinda
10
BNBUSDT - Price can bounce from resistance area to $288Hi guys, this is my overview for BNBUSDT, feel free to check it and write your feedback in comments👊 Recently price entered to triangle, where it bounced from support line and made upward impulse to resistance line. But then it fell back to support line, after which BNB turned around and rose to resistance line again, breaking $303 level. Later price exited from the triangle and started to trades in flat, where soon it reached $321 level, which coincided with resistance area. Then BNb some time traded near this area and even rose higher, but then price made a downward impulse. Price exited from flat, and broke $303 level too and I think Binance Coin can bounce from resistance area to $288 level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
1
GOLD → Retests of global support. Where can it lead to?OANDA:XAUUSD opens lower on Monday and is testing 2025 for a breakout. Technically, gold is weaker than the dollar as regulators continue to support the index. Fundamentally, the gold market is only watching the dollar's behavior. The dollar index is consolidating after a micro rally, but both technically and fundamentally the index may strengthen. The market sentiment is changing: traders are now betting that the Fed will not start cutting rates until May, while earlier it was March. Gold is in a key consolidation range: 2052 - 2018 (the boundaries are marked on the D1 chart). Anything can happen in relation to the boundaries (false breakout, rebound), as the market is trying to gather the necessary amount of liquidity by any means. But, if you look closely, you can see that the price is forming a retest of the ascending support line. The chances of the support being broken continue to rise. The trigger zone is below 2018. A break of this support and the formation of consolidation below this level could finally turn the market around and direct the accumulated potential towards a bearish distribution. But! Since gold is currently in a range, we have a resistance level, a break of which could give the market an opportunity for growth: this is the 2025-2030 area. Resistance levels: 2025, 2030, 2035, 2050 Support levels: 2018.5, 2016, 2004 Technically, a bearish trend is forming, on d1 price continues to test support for a breakout on the back of a strengthening dollar. I think such preconditions may hint at a possible fall TVC:DXY CAPITALCOM:GOLD COMEX:GC1! COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
11
GOLD → Counter-trend correction and a target of 2050FOREXCOM:XAUUSD looks quite strong and on the background of growing dollar index does not give up its positions much. Consolidation in the range of 2069.8 - 2029.6 continues. The dollar index feels overheated but still supported by the US FED & FOMC. Regulators are carefully trying to control the situation and stop any possibility of early interest rate cuts. As we can see, the dollar price is actively reacting to such comments. The index is squeezed between MA200 and MA50 and, in all likelihood, from the support may continue to rise in January-February to the trend resistance, which will have a corresponding effect on the forex market and gold. Gold is trading within the descending price channel and on the background of unstable geopolitical situation, the price is trading calmly inside the range. The logical price reaction to a false break of trend support is a technical reversal is formed and we see a counter-trend correction to resistance. On D1 gold is forming a strong resistance zone formed by several highs ( 2150, 2085, 2070, 2063 ), on the global timeframe, technically and fundamentally the asset looks promising. The current geopolitical situation is affecting the gold price to the upside, but the market is correlated with the dollar index and as long as the latter is strengthening, gold will still react to it. Gold may continue to rise at the beginning of the week for several reasons: - the attacks on Yemen and the response to US vessels continued over the weekend - dollar index closed Friday's session in the correction phase - On the hourly timeframe, gold ended Friday's session with the end of the correction in the 2025 area. The price has consolidated above the psychologically and technically important level, respectively, it will favorably affect the price growth. TVC:DXY COMEX:GC1! COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSD
by RLinda
5
BITCOIN → Why might the price drop to 34K before halving?BINANCE:BTCUSD has been rising for 124 days without any meaningful correction since September. Within a strongly bullish distribution, the price tested the strongest liquidity zone of 48K and made a false breakout, which is a strong sign for the start of a correction. Technically, BTC is in a stalemate situation, between two channels, more precisely in the range between 43K and 40K. The consolidation may last an indefinite amount of time, as fundamentally bitcoin is quite strong, and all the selling that is taking place is related to ETFs. The next halving is expected on April 7, 2024 . Statistically, the market goes into a significant correction phase before this phenomenon and there is a logic in this - to form more favorable positions before the strong rally that everyone is waiting for. At the moment, technically, the price is restrained by the resistance 43118 and the price has chances to rise, but for that the market will have to overcome this resistance and hold the level. From below we have the support at 40181, which is a risk and panic zone. When the price approaches this area, many buyers and sellers have adrenaline levels, as some are eager to open trades and others are afraid of reaching the stop-loss. Within the current situation, we have two scenarios: 1) Shortsqueeze in the format of a false breakout relative to 0.382 fibo, rise, breakout of 43118, consolidation above the level and subsequent rise to 50K, but at the moment, for the reasons I stated above, this scenario doesn't have much of a chance 2) Breakout of 0.382 fibo, the market gets rid of unnecessary passengers (knock out stoplosses), then - the key fibo area in the medium term - 0.618 fibo. Test of the area may occur in February - March and become a strong support before further growth after halving. Support levels: 40181 Resistance levels: 43118 Fundamentally the flagman is doing quite well, but technically there are reasons why the market should lower the price before the growth Regards R. Linda!
BITSTAMP:BTCUSDShort
by RLinda
54
BITCOIN - Price can decline to $40100 inside falling channelHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Some days ago price started to trades in flat, where it in a short time declined to support area, which coincided with $41400 level. In area, BTC fell to support line and then bounced back to flat, in which price repeated this movement two time. The second time, price bounced from support line and made strong impulse up to $49000 points, exiting from flat. But after this, Bitcoin turned around and in a short time declined to $41400 level, breaking resistance level and support line. Also price entered to falling channel, where it made fake breakout of support level and now it trades near. Possibly, Bitcoin can grow little more and then start to decline to $40100, breaking support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
6
XAUUSD 1HI think the price may go up and market continues to resistance-liquidity zone at 2048.8-2050. I LOOK for a test of the resistance and more downward moves because the trend on the daily timeframe is bearish . I expect a fake breakout of the rang zone to grab liquidity above, than continue trending downward. My goal is the support liquidity zone at 2004.4 Gold manages to grow on the background of the growing dollar index. Today there is no news that can somehow change the direction. Technical.
OANDA:XAUUSDShort
by Honey_Carter888
GOLD → Trading within the descending channel GOLD confirms the lower boundary of the channel, forms a false breakdown of 2010 and reverses to form a counter-trend correction. Gold manages to grow on the background of the growing dollar index. Today there is no news that can somehow change the direction. Technically, gold, within the descending range, is heading towards the resistance area of 2042-2048. On the background of the correction, the price is breaking through MA-50 and the strong level of 2025. Ahead is MA-200 and no less important resistance zone 2035 from which a correction may follow with the aim of retesting 2025. Thus, within the range we should focus our attention on the area: 2035, MA-200. Breakout of this zone and price consolidation above it will form a potential for further growth to the previously mentioned target: liquidity and resistance zone 2042-2048. But if the bears sell the price, forcing a breakout of 2025 and consolidation below the level, then in this case, against the background of a rising dollar, gold may head towards the support area of 2004. Support levels: 2025, 2029 Resistance levels: MA-200, 2035 As part of the intra-range trading strategy, the price may reach the trend resistance and test 2048. But, still we have a strong dollar and strong sellers in the market. If the price goes back to 2025, we should be ready for further selling COMEX:GC1! TVC:DXY COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSD
by RLinda
24
AUDUSD → Change of mood and retest of a strong level FX:AUDUSD broke the uptrend earlier and is testing the strong historical level of 0.65800. Against the backdrop of a rising TVC:DXY , the Aussie could lose ground and head towards downside targets. The dollar is strengthening and may show growth for the second week in a row thanks to the signs of stability of the American economy and cautious comments of central bankers' representatives on rate cuts, the index is seeing a clear recovery phase, which negatively affects the currency pair. Technically, AUDUSD breaks the level of 0.65800 and tests it as resistance. There are 2 scenarios that can develop in relation to the level: the first one includes the continuation of the correction if the price breaks 0.65800 and consolidates above it. The target will be the resistance at 0.6666. And the second scenario is the bears' task to hold this level against the background of changing market sentiment. From 0.65800 a decline to 0.6523 is possible with the subsequent breakout and fall to 0.6352. Moving averages show a downward signal. Resistance levels: 0.65800 Support levels: 0.6523 The trend is changing, bears are more serious, which may affect the pair's pricing. With greater probability I am waiting for the realization of the second scenario. Regards R. Linda!
Short
by RLinda
13
GOLD → Price returns to the descending range OANDA:XAUUSD is declining and testing local lows. The market has stopped paying attention to the conflict in the red sea, which is surprising, and focuses its attention on the comments of the Fed representatives, who are quite a lot of speakers and will speak this week. Of the news today, Core Retail Sales at 31:30 gmt is worth waiting for. Analysts expect unchanged data, but Bowman (FOMC) will speak at 14:00 and Williams (FOMC) will speak at 20:00, most likely to comment on the situation around inflation and further interest rate situation. Overall, the regulator is not ready to give up yet and may continue to keep the dollar strong. As for gold, the price is still in a neutral consolidation phase. A breakout of one of the boundaries may determine the outlook and it could be a support breakout. In general, gold is returning to the descending range and testing support levels for the possibility of further decline. Most likely, bears will try to hold their zone, in this case gold may test 2013 within the bearish trend in the nearest future. And in the medium term, target 1994, where there is a huge pool of liquidity. Resistance levels: 2024, 2030 Support levels: 2017, 2013, 2010 As the time horizons are determined both technically and fundamentally, gold may test local lows on the back of a rising dollar COMEX:GC1! TVC:DXY Regards R. Linda!
OANDA:XAUUSD
by RLinda
21
EURUSD → Fundamentally, the dollar is strongerFX:EURUSD is declining and forming an attempt to break trend support. Fundamentally, the TVC:DXY is strengthening on the background of the Fed's position, which negatively affects the base currency - EUR. On the high timeframe we see that the dollar continues to strengthen after a long consolidation. The Fed is not going to give up and is trying to insure itself before a possible interest rate cut, which may come in spring-summer 2024. This scenario may strengthen the dollar to local highs, which will have a negative impact on the currency pair. EURUSD broke 1.088 testing the trend support, technically, the breakout has already occurred, the price may take a small correction and retest the support, after which it may head towards the lower boundary of the range - 1.0756. Consolidation of the price below the trend support will confirm the bearish position, which will be a favorable scenario for sellers. Support levels: 1.078, 1.0756 Resistance levels: 1.0888, 1.10 Fundamentally, the dollar is stronger than the euro, which will obviously have a negative impact on the currency pair. We expect confirmation of the scenario (consolidation below the support) for further opening of sales. Regards R. Linda!
Short
by RLinda
1
NZDUSD → Consolidation after support breakoutOANDA:NZDUSD continues to consolidate in a narrow range as uncertain sentiment is also seen in the dollar index amid a challenging fundamental environment. The TVC:DXY has been consolidating below resistance for two and a half weeks, which in standard practice is a strong downside signal as resistance cannot be broken. NZDUSD pair broke uptrend support earlier and consolidation is forming in the selling zone between 0.6250 and 0.6208. But, it is important for us to wait for the confirmation of the sell signal, which will be the breakout of 0.6208 and the subsequent consolidation of the price below the level, which will open for us the target in the form of support at 0.6086. Moving averages also indicate consolidation, which may be followed by a distribution phase. Resistance levels: 0.6250, 0.6366 Support levels: 0.6208, 0.6180, 0.6086 There is a high probability that the currency pair on the background of the subsequent weakening of the dollar index can still break the support and head towards the target indicated by us. Regards R. Linda!
Short
by RLinda
7
GOLD → Correction to previously broken trend resistance FOREXCOM:XAUUSD is declining. Bulls failed to hold the 2050 area, but most likely there is a reason for that: the liquidity zone is near the previously broken resistance, and the geopolitical situation is complicated by additional Fed comments. The dollar index consolidated below 102.6 for a long time and it was logical to realize that the market was unable to go up, until the Fed commented again: "rates should be kept at a high level for some time, it is premature to talk about the beginning of the Fed's rate cut in March". This is logical against the backdrop of the red sea crisis, which is also very much affecting inflation in the world. BUT. It should be understood that this conflict directly affects the pricing of gold. High probability of appreciation of the asset. Technically, gold is declining towards the previously broken trend resistance. The market may be interested in support at 2038.9 - 2032. A false breakdown could form a liquidity grab and a bullish momentum. Resistance levels: 2050, 2064 Support levels: 0.382 fibo, 0.5 fibo (2038.9), 0.618 fibo The growth of gold, as a security asset amid the crisis, may continue after the market retests the previously broken trend resistance COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
8
GOLD → The price will continue to rise provided...FOREXCOM:XAUUSD formed a rally at the end of last week and broke the resistance of the downtrend. The reason is another armed crisis, but in Southwest Asia. On Monday, the market opened the session with price strengthening and retesting 2058. The mood of the market is such that the price growth may continue in the medium term. There is no sense to pay attention to the dollar now, temporarily the correlation in the pair is decreasing and fundamentally gold looks quite a strong asset. Today the volatility may be lower than the daily average due to the fact that it is a holiday weekend in the USA. Technically, as the market is testing the level of 2050, the price consolidation above this area will form a bullish potential, which in the medium term can push the price to 2070, 2100, 2150. It is also worth paying attention to the moving averages. Support levels: 2050, MA50+MA200, 2039 Resistance levels: 2058, 2064, 2070 The market is testing the support, against which gold can strengthen on the background of favorable fundamental background for the asset TVC:DXY COMEX:GC1! Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
28
GOLD → Why could the metal's price rise continue? FOREXCOM:XAUUSD closes the trading week above the opening, which is quite a positive sign, as the market has obvious reasons for the rally, which can continue up to 2150. We are living in a time of a 30 year record number of armed conflicts with over 180 clashes. This is all affecting the market, including gold. A recent reason for gold's rally was the military operation against the Houthis in Yemen by the U.S. and the Great Britain for the freedom of the sea route. As part of the rally, the price is overcoming bearish resistance and forming further preconditions for a possible rise. There is not much fundamentally significant news in the coming week, the world is focused on the war in the Middle East, which is still ongoing and the new armed conflict in Southwest Asia. This is pre-determining the medium-term outlook for gold. The dollar has been receiving bullish news for the last two weeks, but continues to consolidate without any bullish reaction under the resistance level of 102.6. The market is probably waiting for downside signals. Gold on the other hand breaks trend resistance, which temporarily detaches the correlation between the assets, hence the format of technical and fundamental analysis changes a bit. The coming week may see a retest of local support before a further retest. Now all eyes are focused on the resistance of the global range 2050-2070 and it is likely that in the medium term gold may break this level and start to form a new global range. TVC:DXY COMEX:GC1! Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
12