BITCOIN BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
BITCOIN is trending down which is evident from the red colour of the previous weekly candle. However, the price has locally surged into the overbought territory. Which can be told from its proximity to the BB upper band. Which presents a great trend following opportunity for a short trade from the resistance line above towards the demand level of 93,774.
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Forecast
GBP/AUD SELLERS WILL DOMINATE THE MARKET|SHORT
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We are targeting the 1.974 level area with our short trade on GBP/AUD 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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GOLD BEARISH BIAS RIGHT NOW| SHORT
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We are now examining the GOLD pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 2,807.382 level.
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AUDUSD Will Move Higher! Long!
Take a look at our analysis for AUDUSD.
Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 0.638.
Taking into consideration the structure & trend analysis, I believe that the market will reach 0.645 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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USOIL Will Go Down! Short!
Here is our detailed technical review for USOIL.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 7,215.2.
The above observations make me that the market will inevitably achieve 6,999.3 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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EURNZD Is Bearish! Sell!
Please, check our technical outlook for EURNZD.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 1.819.
Considering the today's price action, probabilities will be high to see a movement to 1.806.
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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SPX500USD Will Go Lower! Sell!
Please, check our technical outlook for SPX500USD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 6,122.6.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 6,074.3 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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NZD/CHF SENDS CLEAR BEARISH SIGNALS|SHORT
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NZD/CHF pair is in the uptrend because previous week’s candle is green, while the price is clearly rising on the 4H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 0.515 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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GBP/CAD BEARS ARE GAINING STRENGTH|SHORT
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GBP/CAD pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 8H 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 1.769 area.
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GBPUSD Will Go Higher From Support! 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 trading around a solid horizontal structure 1.261.
The above observations make me that the market will inevitably achieve 1.268 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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EURUSD Will Fall! Sell!
Please, check our technical outlook for EURUSD.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 1.043.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.041 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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DXY Is Very Bearish! Short!
Here is our detailed technical review for DXY.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 106.963.
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 106.002 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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GBP/CHF BEARS ARE STRONG HERE|SHORT
Hello, Friends!
Previous week’s green candle means that for us the GBP/CHF pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 1.129.
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GOLD Is Going Up! Buy!
Take a look at our analysis for GOLD.
Time Frame: 3h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 2,953.88.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 2,994.97 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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GBP/NZD BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
It makes sense for us to go short on GBP/NZD right now from the resistance line above with the target of 2.165 because of the confluence of the two strong factors which are the general downtrend on the previous 1W candle and the overbought situation on the lower TF determined by it’s proximity to the upper BB band.
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SELL CHFDouble Top Formation 📉 | CHF Poised to Weaken Across All Pairs 💱
The Swiss Franc (CHF) is showing a classic double top pattern, signaling a potential bearish trend. The structure is solid, aligning with technical analysis principles, and suggests a decline in CHF value against major currencies. 🌍
💡 Key Highlights:
Double top formation: Indicates strong resistance and potential reversal.
Big positive swap: Holding positions yields positive returns, making this setup even more attractive.
Bearish sentiment: CHF expected to weaken, offering opportunities for traders across all currency pairs.
📊 Watch for confirmations to validate the setup before entry! Perfect time for strategic planning. 🚀
EUR/CHF SHORT FROM RESISTANCE
Hello, Friends!
EUR-CHF uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 0.935 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 EUR/CHF pair.
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