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ETHUSDT Near Resistance - Expecting a Downward CorrectionETHUSDT is currently testing a descending trendline, which has acted as resistance in previous instances, as shown by the two prior rejections marked by red arrows. The price is hovering near $2,650, with a potential move towards $2,740 if short-term bullish momentum continues. However, based on the chart pattern and market behavior, there is a high likelihood of rejection near the $2,800 mark, leading to a bearish correction. The projected scenario suggests that if ETH is rejected from the trendline, it may revisit the support zone around $2,300 - $2,200. The market remains cautious as traders await key macroeconomic data that could influence risk assets, including crypto. This trend aligns with the broader market's volatility and concerns around interest rates and global economic uncertainty. In summary, ETHUSDT could see a short-term increase before likely encountering strong resistance, prompting a downward move towards the support range. Traders should be alert to price action near the $2,800 level for possible trend reversals.
by Suyouu
XAU/USD: Break $2,679 or Retrace?The XAU/USD chart shows gold hovering around $2,649, with key support at $2,623 and $2,649. The EMA 34 ($2,643.988) and EMA 89 ($2,607.307) provide strong support, maintaining the bullish momentum. The main focus is on the resistance at $2,679. If the price breaks above this level, the upward trend is likely to continue. However, if unsuccessful, gold may correct toward lower support levels. The market is also awaiting key news from the U.S., which could significantly influence gold’s direction in the near future.
OANDA:XAUUSDLong
by Zola_Hello
GBPUSD Will Move Higher! Long! Here is our detailed technical review for GBPUSD. Time Frame: 3h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 1.338. Considering the today's price action, probabilities will be high to see a movement to 1.347. 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. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
2
AUDCAD Will Move Higher! Long! Here is our detailed technical review for AUDCAD. Time Frame: 15m Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 0.929. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 0.931 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. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
XAU/USD: Awaiting Breakout or Further Correction?The XAU/USD chart on September 30th reveals an intriguing scenario as gold prices hover around $2,652.115. A solid support level at $2,643.949 acts as a strong "shield," preventing any significant drops. Additionally, the EMA 34 ($2,651.911) and EMA 89 ($2,618.401) provide robust support, forming a solid foundation for buyers to maintain upward momentum. However, the real battle lies at the resistance level of $2,669.912. If buyers can muster enough strength to break through this level, the path to new highs at $2,691.980 will open up. In this tense market environment, key economic news and Fed actions will play pivotal roles, potentially shifting the entire landscape in a matter of moments.
OANDA:XAUUSDLong
by Zola_Hello
BTCUSDT trading strategy today.Bitcoin is currently priced at 64,444.91 USDT, showing a slight dip of 1.76%. It’s nearing a critical support zone between 63,000 - 64,000 USDT, which has held strong in the past. Moving averages still suggest an overall bullish trend despite the recent pullback. -Strategy: Entry: Look for a bounce in the 63,000 - 64,000 USDT support zone. Confirm a reversal before buying. Take Profit: Target 66,000 USDT first, then 67,000 USDT. Stop Loss: Set below 62,900 USDT. If support holds, this could be a good opportunity for a bullish trade. Stay cautious and watch the market closely!
Long
by Suyouu
EURUSD: Join the purchase!EUR/USD is hovering below 1.1200 in early Monday morning in Europe. The pair lacks fresh directional momentum, awaiting flash German CPI data and Fed Chair Powell’s speech. More stimulus efforts from China help keep risk sentiment sweeter amid Middle East risks. Given the current market conditions, it looks like EUR/USD will continue its larger uptrend, as the chart shows. The first resistance zone to watch is 1.1200, followed by the upper channel resistance around 1.1240
Long
by ConanTradingFX
XAUUSD: Buyers still have a chance.The price started the week with a spike near the dynamic resistance at $2670, but quickly retreated after the reaction, currently at $2653 and down 0.17% on the day. Although the price of gold has been slightly negatively affected by the market after lacking the momentum and fundamental news to break above the psychological resistance at $2700, this can be seen compared to the 2685 setup. However, the outlook for the metal remains bright at high prices, despite profit-taking from the market. The only concern from the market going forward is the NFP news, which, coupled with concerns about the situation in the Middle East and interest rate cuts and expectations of further adjustments in the future, will have a positive impact on the price of gold. Traders can consider buying when the price drops to the support level around $2625.
OANDA:XAUUSDLong
by ConanTradingFX
USD/JPY: Key Support Spotted in DowntrendThe USD/JPY chart is clearly showing a downtrend as the price has broken below both EMAs, indicating that selling pressure is increasing. The key support level at 142.500 will be the key point to watch, as the reaction here could determine the next trend. If the price recovers from this level, there could be a buying opportunity; otherwise, a deeper decline could occur. Traders should use stop-loss orders to minimize risk in the current volatility.
by Naoomi
Gold prices tend to decrease at the weekend!Hello everyone, Conan here. Today, gold prices are showing a downward trend. After failing to break through the resistance levels of 2670 - 2680, the price has started to decline and is currently trading around 2658 USD. This drop has been supported by some USD buying activity, which tends to weaken demand for this commodity. Additionally, the optimistic market sentiment, fueled by new stimulus measures from China, turned out to be another factor pushing money away from the safe-haven precious metal. As seen on the 1-hour chart, gold prices are still reacting around the EMA 34, and the descending wedge pattern remains unbroken, indicating that the downtrend is not over yet. Based on these factors, in my personal opinion, gold prices are likely to continue falling in the near future, possibly reaching a lower level around 2640 USD.
OANDA:XAUUSDShort
by ConanTradingFX
BTCUSD Bullish Trend Confirmed by Double BottomIn the current BTCUSD chart, we can clearly observe a double bottom pattern, a classic bullish reversal formation. After touching a strong support zone around the 61,000 USD level (highlighted in green), Bitcoin's price bounced back and formed a lower peak before returning to the support zone once again to create the second bottom. This indicates strong buying pressure at this price level. After completing the double bottom pattern, the price broke above the moving averages and continues to rise, currently trading around 65,848 USD. The current trend suggests a potential test of the key resistance zone at 71,511 USD (marked by the dashed line). Forecast: If BTCUSD can break through this resistance zone, the price may continue its upward momentum, potentially reaching targets around 74,000 USD and higher. However, it's important to note the possibility of a short-term correction upon hitting the 71,511 USD resistance zone before continuing the upward trend.
BITSTAMP:BTCUSDLong
by Suyouu
XAUUSD 29/09/24This week on gold, we maintain a similar overall outlook, with the price action expected to continue moving upward. Take note of the previous high. If a pullback occurs due to any fundamental factors, particularly the potential conflict in the Middle East, there may be opportunities to go long from the highlighted areas. However, if no pullback occurs, expect the price action to continue rising. If we move higher from the current levels, the recent high will likely be taken out. Conversely, if we move lower from our current position, the probability of reaching the high remains strong. Be sure to note the liquid lows, which are in line with both the short-term trajectory and the longer-term trajectory, aligned with higher timeframe demand.
OANDA:XAUUSD
by rosshayes
EURUSD 29/09/24Starting the week with the Euro to U.S. Dollar. Following last week, we saw a clear push to the upside, with price action generating solid movement in an uptrend. We expect this momentum to continue as the U.S. Dollar shows signs of weakening. This suggests a high probability of price action moving toward the previously established high, which serves as a key area of trajectory, clearly pointing upwards. This is a leading indicator of a potential new high being formed. Additionally, there are areas of liquidity and demand, which are crucial points of interest should we see a pullback. Keep in mind, our daily trajectory is clearly bullish. However, if we break below the trajectory low and fail to react to the demand area, I would expect price action to decline further, taking us to the lower end of the range on the higher timeframe. Stick to your risk. Always follow your trading plan.
by rosshayes