GBP/CAD BEARS ARE GAINING STRENGTH|SHORT
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GBP-CAD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 1.765 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 GBP/CAD pair.
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Forecast
GBP/AUD SELLERS WILL DOMINATE THE MARKET|SHORT
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GBP/AUD pair is in the uptrend because previous week’s candle is green, while the price is evidently 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 1.939 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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GBP/NZD BEARISH BIAS RIGHT NOW| SHORT
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GBP/NZD 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 2.138 area.
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EUR/CHF SENDS CLEAR BEARISH SIGNALS|SHORT
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EUR/CHF is trending down which is obvious 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 0.929.
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SPY: Will Start Falling! Here is Why:
The charts are full of distraction, disturbance and are a graveyard of fear and greed which shall not cloud our judgement on the current state of affairs in the SPY pair price action which suggests a high likelihood of a coming move down.
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NQ1! BEST PLACE TO SELL FROM|SHORT
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We are targeting the 20,498.50 level area with our short trade on NQ1! 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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GBP/CHF BEARS ARE STRONG HERE|SHORT
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GBP/CHF is making a bullish rebound on the 3H TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 1.116 level.
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DXY Is Bullish! Buy!
Take a look at our analysis for DXY.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 105.777.
The above observations make me that the market will inevitably achieve 108.336 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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AUDNZD Is Very Bullish! Long!
Please, check our technical outlook for AUDNZD.
Time Frame: 8h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 1.100.
Taking into consideration the structure & trend analysis, I believe that the market will reach 1.104 level soon.
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: Bearish Continuation is Expected! Here is Why:
Our strategy, polished by years of trial and error has helped us identify what seems to be a great trading opportunity and we are here to share it with you as the time is ripe for us to sell EURUSD.
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USOIL Is Going Up! Buy!
Here is our detailed technical review for USOIL.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 68.12.
Considering the today's price action, probabilities will be high to see a movement to 71.74.
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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SPY SHORT FROM RESISTANCE
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It makes sense for us to go short on SPY right now from the resistance line above with the target of 595.24 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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GBP/JPY BULLS ARE GAINING STRENGTH|LONG
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Previous week’s red candle means that for us the GBP/JPY pair is in the downtrend. And the current movement leg was also down but the support line will be hit soon and lower BB band proximity will signal an oversold condition so we will go for a counter-trend long trade with the target being at 195.238.
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USOIL BEARS ARE GAINING STRENGTH|SHORT
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USOIL pair is in the downtrend because previous week’s candle is red, while the price is obviously rising on the 2H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 68.16 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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Bitcoin price Must surpass $100KBitcoin's price is seeing increased volatility around GETTEX:97K , and some crypto experts believe it’s on track to surpass $101K in the near term. Renowned analyst *PlanB* recently highlighted that Bitcoin’s current trajectory aligns with historical post-halving trends, suggesting significant upside potential. Similarly, a prominent advocate for Bitcoin, emphasized that growing institutional interest and adoption could fuel BTC’s rise past $101K. Our forecast anticipates Bitcoin reaching $100K by the end of 2024, driven by strong market sentiment following the halving event, with a potential to touch $270,593 by 2030 as institutional investments gain momentum.
NZDCHF: Bearish Forecast & Outlook
It is essential that we apply multitimeframe technical analysis and there is no better example of why that is the case than the current NZDCHF chart which, if analyzed properly, clearly points in the downward direction.
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US100 Will Go Up From Support! Buy!
Here is our detailed technical review for US100.
Time Frame: 5h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 20,844.8.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 21,155.0 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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