SILVER Will Go Higher From Support! Buy!
Please, check our technical outlook for SILVER.
Time Frame: 15m
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 31.396.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 31.547 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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Forecast
EURUSD Is Very Bullish! Buy!
Please, check our technical outlook for EURUSD.
Time Frame: 1h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 1.056.
Taking into consideration the structure & trend analysis, I believe that the market will reach 1.057 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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GOLD SELLERS WILL DOMINATE THE MARKET|SHORT
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Bearish trend on GOLD, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 2,532.880.
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GOLD Is Bearish! Sell!
Take a look at our analysis for GOLD.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 2,634.92.
The above observations make me that the market will inevitably achieve 2,574.59 level.
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.
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DXY Will Move Lower! Short!
Here is our detailed technical review for DXY.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 106.561.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 106.415 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 BULLS ARE STRONG HERE|LONG
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EUR/USD pair is trading in a local downtrend which we know by looking at the previous 1W candle which is red. On the 1D 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 1.095 area.
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USD/CAD BEARISH BIAS RIGHT NOW| SHORT
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USD-CAD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 1.393 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the USD/CAD pair.
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GBPUSD Is Going Up! Long!
Here is our detailed technical review for GBPUSD.
Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 1.266.
Considering the today's price action, probabilities will be high to see a movement to 1.281.
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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USD/JPY BEST PLACE TO SELL FROM|SHORT
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USD/JPY pair is in the uptrend because previous week’s candle is green, while the price is clearly rising on the 9H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 154.148 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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GBPCAD Will Go Up From Support! Long!
Take a look at our analysis for GBPCAD.
Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 1.772.
The above observations make me that the market will inevitably achieve 1.782 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.
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GBP/NZD BULLS ARE STRONG HERE|LONG
Hello, Friends!
We are targeting the 0.978 level area with our long trade on GBP/NZD which is based on the fact that the pair is oversold on the BB band scale and is also approaching a support line below thus going us a good entry option.
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AUDCHF Will Go Higher! Buy!
Here is our detailed technical review for AUDCHF.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 0.573.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 0.576 level.
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.
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NAS100USD Will Fall! Short!
Take a look at our analysis for NAS100USD.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 20,544.9.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 20,006.6 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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SILVER SHORT FROM RESISTANCE
Hello, Friends!
We are targeting the 30.477 level area with our short trade on SILVER which is based on the fact that the pair is overbought on the BB band scale and is also approaching a resistance line above thus going us a good entry option.
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US500 Will Go Higher! Long!
Please, check our technical outlook for US500.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 5,902.9.
Taking into consideration the structure & trend analysis, I believe that the market will reach 6,123.9 level soon.
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.
Like and subscribe and comment my ideas if you enjoy them!
USOIL Will Go Down! Sell!
Here is our detailed technical review for USOIL.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 69.181.
Considering the today's price action, probabilities will be high to see a movement to 63.975.
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.
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USDCAD Will Move Higher! Buy!
Take a look at our analysis for USDCAD.
Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 1.396.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.403 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!
EURAUD Is Bullish! Long!
Please, check our technical outlook for EURAUD.
Time Frame: 3h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 1.619.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 1.625 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.
Like and subscribe and comment my ideas if you enjoy them!
USOIL SHORT FROM RESISTANCE
Hello, Friends!
USOIL pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 9H timeframe the pair is going up. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 66.46 area.
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