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Bitcoin (BTCUSDT) Supply Area Proximity and Market SentimentsSince September 10, Bitcoin's uptrend has been impressively consistent, marking three months of continuous growth. This prolonged price action significantly raises the probability of an impending correctional move down. BTCUSDT has been trading near the supply area for the past couple of weeks, inducing a sense of caution in the crypto market. While the long-term trend remains strongly bullish, a healthy correction could be beneficial for sustained growth. Additionally, the remarkable surge in altcoins over recent months, though exciting, indicates the need for a potential pullback. As long as BTC is below the current supply area, we anticipate a 20% correction to test the double Fibonacci support at $36k.
by CryptoPAMM
4
USDJPY- STILL DOWN LIKE WE PREVIOUS ANALIZED The USD/JPY currency pair has seen significant movements recently, with several factors influencing its expected performance next week: Current Position and Recent Movements: As of December 14, 2023, USD/JPY stood at 141.986, indicating a decrease of 2.28%. The currency hit a high of 145.995 and a low of 141.832 during this period. Over a broader 52-week range, the pair fluctuated between 127.221 and 151.924, with a year-to-date change of 8.29% and a one-year change of 4.73%. Influence of Bank of Japan's Policies: Recently, signals from the Bank of Japan about an imminent shift towards a more accommodative monetary policy have strongly influenced the Japanese yen's strengthening against other major currencies, particularly against the dollar. This caused the USD/JPY pair to fall to the support level of 141.63 before recovering. Therefore, the future of the pair largely depends on the central banks' policies, especially from Japan, where markets have long awaited a shift in negative interest policy. Expectations from the U.S. Central Bank: This week, the focus will be on the U.S. Central Bank's policy announcement, with strong expectations to maintain U.S. interest rates, but there will be attention on the bank's policy statement and expectations report. Monitoring of new expectations for U.S. interest rate levels at the Federal Reserve is ongoing. Technical Analysis: Technically, the USD/JPY has formed lower highs connected to a trend line that has held since mid-November. It appears ready to test this resistance level again. The Fibonacci retracement tool indicates levels where sellers may be waiting to jump on the downtrend. The 61.8% Fibonacci level nearest to the trend line is around the key psychological mark of 146.00, which might be sufficient to keep gains in check. Hence, the USD/JPY may resume its decline to its lowest level at 141.62. However, a breakout above the Fibonacci levels and trend line could trigger a reversal to the upside. Additionally, technical indicators suggest a continuation of the downward trend, with the 100 SMA below the 200 SMA, confirming a shift downward in the trend or that a sell-off is more likely to gain momentum rather than reverse. In summary, the future performance of USD/JPY will depend on key factors including the central banks' policies of Japan and the United States, as well as technical signals that currently indicate a potential continuation of the downward trend. The chart reflects this with the price recently testing a key support level and showing a potential for continuation of the downward trend as indicated by the trend lines and recent price action. A video of my trade made it yesterday at USDJPY drive.google.com Like i analyzed before go look my past analysis: drive.google.com
Short
by BBSignTraders
USDJPY - NovemBEARS MARKETFor the current week, the USD/JPY pair has shown a decline, closing Monday's session at 148.675. Investors are speculating on a possible shift in the Bank of Japan's policy away from negative interest rates, which could support a move of the pair towards 145. Consumer confidence in the U.S. and comments from FOMC members are also key factors that could influence the trajectory of USD/JPY. The focus is on the future direction of the Bank of Japan following higher-than-expected inflation data, with anticipation of further guidance on when this policy shift might occur. On the other hand, in the U.S., a significant drop in consumer confidence could affect spending and thus demand-driven inflation, which would influence the Fed's interest rate outlook. Investors will be attentive to comments from voting FOMC members on inflation and interest rates. In summary, the market anticipates a possible change in the Bank of Japan's monetary policy and is closely monitoring U.S. consumer confidence indicators and comments from FOMC members, all of which could significantly influence the behavior of the USD/JPY pair in the coming days. Look my ideas chart drive.google.com
Short
by BBSignTraders
EURUSD 12/11/23With EUR usd this week we finished in the same range that we started Friday meaning there wasn't much to do when it came to adjustments in terms of this week's outlook and we know that gbp usd has gone bullish, so there is potential for euro to follow this movement overall structurally we have a barest range so we have to continue to follow that but we will be using caution coming into this week as possible bullish reversals are on the table. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety
Up early Friday, well off highs at endNow that Minor wave 3 has likely ended (62 hours later), the index is well into Minor wave 4 up. We could even be nearing the end of Minute wave A. Historical data indicates Minor wave 4 could last 21-36 hours with a final top around 4350-4387. It is possible the index is already in Minuette wave 5 of Minute wave A inside of this Minor wave 4. Looks like Minuette wave 5 will last about 4 hours max and the first hour has already ended with Thursday's close. Strong model agreement of the top around 4340-4348 within the first few hours of trading on Friday. This could be achieved with a probable gap up to open, but all gains will likely be given back over the rest of the day and early hours on Monday. The final top for Minor 4 will likely be achieved next week. More analysis, data, and levels will be available by the weekend once Minute wave A has truly ended. More great insight and datastreams to come.
SP:SPX
by StockSignaler
2
XAUUSD 9/7/23Gold giving us another super simple and easy to spot range setup with clear imbalance pointing us to our high level of orders (OB) we now wait for a tap in as always before letting this thing run higher! Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
OANDA:XAUUSD
by PipSurfingSociety
ETHUSDT Breaking Channel and Targeting Psychological SupportETHUSDT is currently positioned below the significant resistance level of $2000, which holds psychological significance. Furthermore, there has been a clear and decisive breach of the ascending channel, indicating the potential for further downward movement. Given that the price has approached the breakout point of the channel and the 88.6% Fibonacci resistance level, it presents an excellent selling opportunity with a favorable risk/reward ratio. We have initiated a short position and have set our target at the psychological support zone of $1000, which aligns with the 88.6% Fibonacci level.
Short
by CryptoPAMM
5
EURGBP - More Bearish Pressure To Come?Analysis: Price was stuck in an area of consolidation for a while but we've seen that area be broken and price has made a substantial move to the downside indicating to us that we are only interested in shorting this pair. We're currently at an area of previous major support and we expect that this level will now hold as resistance and price will continue its move to the downside. For added confluence we also have a downwards trendline that has been respected multiple times showing us that the bears are in control of this market. So with this trend line lining up with our area of resistance there is a good chance that we will see price continue its move to the downside. Fundamentally the EUR is the strongest major currency whereas the GBP is the 3rd strongest major currency. Although this doesn't go in our favour this isn't the full picture. For many weeks now we've seen the GBP gain more and more strength and we expect this to continue whereas we're seeing institutions closing their long positions on the EUR. So although currently the EUR is stronger then the GBP we can see this changing in the future which is why we are bearish on this pair. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all. Stay Safe - JPI Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Short
by jpeacockfx
2