EUR/CAD BEST PLACE TO BUY FROM|LONG
Hello, Friends!
EUR/CAD pair is trading in a local downtrend which we know by looking at the previous 1W candle which is red. On the 6H timeframe the pair is going down too. The pair is oversold because the price is close to the lower band of the BB indicator. So we are looking to buy the pair with the lower BB line acting as support. The next target is 1.506 area.
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Buy
AUD/USD LONG FROM SUPPORT
Hello, Friends!
We are now examining the AUD/USD pair and we can see that the pair is going down locally while also being in a downtrend on the 1W TF. But there is also a powerful signal from the BB lower band being nearby indicating that the pair is oversold so we can go long from the support line below and a target at 0.689 level.
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CHFJPY Is Very Bullish! Buy!
Please, check our technical outlook for CHFJPY.
Time Frame: 3h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 172.971.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 173.863 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.
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GBP/USD BULLS ARE GAINING STRENGTH|LONG
Hello, Friends!
GBP-USD downtrend evident from the last 1W red candle makes longs trades more risky, but the current set-up targeting 1.308 area still presents a good opportunity for us to buy the pair because the support line is nearby and the BB lower band is close which indicates the oversold state of the GBP/USD pair.
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CAD/JPY BULLS ARE STRONG HERE|LONG
Hello, Friends!
We are now examining the CAD/JPY pair and we can see that the pair is going down locally while also being in a downtrend on the 1W TF. But there is also a powerful signal from the BB lower band being nearby indicating that the pair is oversold so we can go long from the support line below and a target at 108.329 level.
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Ethereum Eyes Breakout Above Key Resistance
In this 1-hour ETH/USDT chart, Ethereum shows strong upward momentum, highlighted by the large blue arrow.
Key Points:
Clear Uptrend: Ethereum has been moving in a steady uptrend, reflected in the price action staying above the moving averages. This signals that buyers are still in control, with higher highs and higher lows forming consistently.
Support Area: The green zone, around $2,590 to $2,600, acts as a solid support level. Price may pull back here before finding enough buying interest to push higher again.
Resistance Zone: The red area, between $2,670 and $2,690, is a key resistance where the price has previously struggled to break through. If Ethereum tests this level again, it could be a critical turning point.
Potential Move: The chart hints at a possible dip back to the support zone, followed by a bounce towards resistance. If the price breaks above the $2,690 mark, it could rally further, with a target potentially around $2,748.
USDJPY Will Go Higher From Support! Long!
Please, check our technical outlook for USDJPY.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 149.346.
Taking into consideration the structure & trend analysis, I believe that the market will reach 150.396 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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GBPJPY Will Go Up From Support! Buy!
Here is our detailed technical review for GBPJPY.
Time Frame: 5h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 195.461.
Considering the today's price action, probabilities will be high to see a movement to 197.269.
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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HTZ Hertz Global: The Top Penny Stock Choice Among Hedge FundsOver the past year, insiders at Hertz Global Holdings Inc. (NASDAQ: HTZ) have been purchasing shares, with CEO Wayne West leading the way. His largest acquisition was a $1.1 million purchase at $4.46 per share.
The stock is now trading at only $3.03!
For a speculative trade, I would consider the $3 strike price calls expiring this Friday, priced at a $0.20 premium.
ZM Zoom Video Communications Potential BreakoutIf you haven`t bought ZM at the end of the giant falling wedge:
Now Zoom Video Communications (ZM) is currently showing a bullish pennant pattern, which is often a precursor to an upward breakout.
With the stock approaching the $72 level, a breakout could lead to a swift move higher, given the strong technical setup.
For speculative traders, buying the $72 strike price calls expiring this Friday at a $0.12 premium offers an appealing risk-reward ratio.
If ZM breaks above the resistance, these calls could rapidly gain value.
GBPAUD Will Go Up From Support! Buy!
Here is our detailed technical review for GBPAUD.
Time Frame: 1h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 1.933.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 1.937 level.
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 BEST PLACE TO BUY FROM|LONG
Hello, Friends!
We are going long on the EUR/USD with the target of 1.102 level, because the pair is oversold and will soon hit the support line below. We deduced the oversold condition from the price being near to the lower BB band. However, we should use low risk here because the 1W TF is red and gives us a counter-signal.
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CHF/JPY LONG FROM SUPPORT
Hello, Friends!
It makes sense for us to go long on CHF/JPY right now from the support line below with the target of 173.514 because of the confluence of the two strong factors which are the general uptrend on the previous 1W candle and the oversold situation on the lower TF determined by it’s proximity to the lower BB band.
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ALLY Ally Financial Options Ahead of EarningsAnalyzing the options chain and the chart patterns of ALLY Ally Financial prior to the earnings report this week,
I would consider purchasing the 36usd strike price Calls with
an expiration date of 2024-10-25,
for a premium of approximately $1.30.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
TSM Taiwan Semiconductor Options Ahead of EarningsIf you haven`t bought TSM before the major breakout:
Now analyzing the options chain and the chart patterns of TSM Taiwan Semiconductor Manufacturing Company prior to the earnings report this week,
I would consider purchasing the 190usd strike price Puts with
an expiration date of 2025-1-17,
for a premium of approximately $13.05.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
ETHUSDT : Bullish factors in playETH/USDT is currently trading around 2,604.19 USD, following a strong upward movement that encountered resistance near 2,654.79 USD.
In the coming sessions, a pullback towards the support zone between 2,546.43 USD and 2,572.00 USD is highly possible. This area is reinforced by the 0.5 and 0.618 Fibonacci retracement levels, which typically serve as critical support in a continued uptrend. If the price retraces to this zone, it could provide a strategic buying opportunity.
In the short term, I'm expecting some consolidation or a mild retracement before another potential breakout attempt above the 2,654.79 USD level. A successful break would likely push the price towards the next target of 2,725.00 USD, possibly reaching higher levels beyond that.
However, a failure to maintain support at 2,546.43 USD could suggest a deeper correction. Until that happens, the bullish momentum appears intact, and the support zone could serve as a solid foundation for the next rally.
GBP/USD: Downtrend ExtendedHello traders!
Today, GBP/USD made an impressive reversal above 1.3000 on Monday, as the market turned cautious ahead of a slew of important economic data from the UK due for release this week. The wage and employment reports will kick off on Tuesday morning, followed by notable CPI and PPI figures on Wednesday.
Technical analysis shows that GBP/USD remains stuck in a downtrend channel, with strong resistance at 1.3300 still intact. This suggests that the market is unlikely to make a significant breakout in the short term without fresh momentum.
Waiting for a Buy Opportunity at SOL Support ZoneSOL/USDT is currently trading around 156.19 USD, and I’m keeping a close eye on its price action. After a solid bounce from the key support level at 151.46 USD, I expect it might consolidate for a while between the resistance at 159.52 USD and the support around 153.12 USD.
If the price pulls back to the 151.46-153.12 USD zone, I see that as a strong buying opportunity, especially since it lines up with the 0.618 Fibonacci retracement level. This level often acts as a significant support in uptrends.
In the short term, I’m anticipating some sideways movement before we get a potential breakout above 159.52 USD. If that happens, my target would be the next key level at 167.13 USD, which aligns with the 1.618 Fibonacci extension.
While there’s always the possibility of a pullback, the way the price has been moving lately makes me believe that the buyers are still in control. I’ll be watching the support zone closely for any signs of further bullish action.
BTCUSD today.Analysis:
Resistance: Bitcoin has tested the $66,000 resistance multiple times, as indicated by the red arrows, but has yet to break through it decisively.
Support: There is a clear support zone around $61,000 – $62,000, which has acted as a base for previous price bounces.
Trend: The ascending trendline suggests that the market sentiment is still bullish, as long as the price stays above this level.
Trading Strategy:
Buy on Dip: If BTC pulls back into the support zone around $61,000 – $62,000 and holds, this provides a buying opportunity.
Target: The first target would be a retest of the $66,000 resistance. If it breaks, the next target could be $70,000.
Stop Loss: Place a stop-loss just below the $60,000 mark to protect against a deeper pullback.
Gold price today continues to hover around $2650Dear Friends.
Today, gold is trading around $2649 and is little changed from the same time yesterday.
Accordingly, gold prices have fallen after hitting an intraday high of $2666 on Monday as China's stimulus measures failed to save financial markets and the greenback continued to rise.
However, when looking closely at the 2-hour chart, the technical picture is quite similar after gold prices broke through the resistance of the downtrend channel, gold prices increased and consolidated their value. Technically, it can be seen that gold prices are reacting around the 34 EMA and the barrier held by active buyers has not been broken, which shows that the uptrend is not over yet. Due to these factors, in 's personal opinion, if gold can successfully overcome the nearest resistance level this week at 2660 - 2677, the opportunity to increase will be very large, possibly reaching the $2700 mark.
Bitcoin forms bullish pattern. Currently, BTC/USDT is forming an ascending triangle pattern on the daily chart, with key resistance around the $67,000 level and rising support near $63,000. This structure often signals a potential bullish breakout.
Trading Strategy:
Upside Potential: If BTC breaks above the $67,000 resistance level with strong volume, it could signal the start of a new upward trend. Traders may consider entering a long position once the price surpasses $67,000, with a target of $72,000 and potentially $75,000.
Stop-Loss: Set a stop-loss just below $65,000 to manage downside risk in case of a false breakout.
The ascending triangle pattern suggests that bullish momentum is building, and the market may soon witness a breakout in the coming days.
SOLUSDT : How to trade ?The chart for SOL/USDT presents a bullish harmonic pattern (likely a Gartley or Butterfly), with the price currently sitting around $152.22 after a recent upward move. The "D" point, which forms the completion of the harmonic pattern, suggests that the price could be setting up for a potential reversal or continuation to the upside, targeting the key resistance level at $159.46.
The green zone around $145.00 serves as a critical support level where buyers have previously stepped in. A breakout above the $159.46 resistance could signal a strong bullish continuation. However, if the price fails to break this level and reverses, it could retest the support zone. Traders should monitor this zone closely for any breakouts or reversals in the short term.
USDCAD Sell To BuyDefined divergence relative to the markets as a whole and over extended up trend within the chart. Regardless of if this is the end of bullishness or just a correction, a correction is incoming. The buy is either a retest of the leftover high, or a continuation of current uptrend. Trade Safe, Trade Smart, Trade Drippy!