Forecast
NAS100 Is Very Bullish! Long!
Here is our detailed technical review for NAS100.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 19,277.73.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 19,804.81 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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SILVER Is Going Down! Sell!
Take a look at our analysis for SILVER.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 28.846.
The above observations make me that the market will inevitably achieve 28.581 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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GBPNZD Will Go Down From Resistance! Short!
Here is our detailed technical review for GBPNZD.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 2.127.
Considering the today's price action, probabilities will be high to see a movement to 2.116.
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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NAS100USD Is Bullish! Buy!
Take a look at our analysis for NAS100USD.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 18,343.2.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 19,114.6 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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USOIL BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
USOIL is trending down which is clear 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 beautiful trend following opportunity for a short trade from the resistance line above towards the demand level of 66.69.
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USD/CAD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
USD/CAD pair is in the downtrend because previous week’s candle is red, while the price is clearly rising on the 12H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 1.341 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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GBP/USD BULLISH BIAS RIGHT NOW| LONG
Hello, Friends!
GBP/USD pair is trading in a local downtrend which we know by looking at the previous 1W candle which is red. On the 12H 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 1.322 area.
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EUR/USD SHORT FROM RESISTANCE
Hello, Friends!
The BB upper band is nearby so EUR-USD is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 1.101.
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EURUSD: Market of Buyers
Remember that we can not, and should not impose our will on the market but rather listen to its whims and make profit by following it. And thus shall be done today on the EURUSD pair which is likely to be pushed up by the bulls so we will buy!
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EURGBP: 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 EURGBP chart which, if analyzed properly, clearly points in the downward direction.
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DXY Will Go Lower! Sell!
Take a look at our analysis for DXY.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 101.699.
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 99.580 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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GOLD Will Go Down! Short!
Please, check our technical outlook for GOLD.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 2,510.163.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 2,499.735 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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GBPUSD Will Move Higher! Long!
Here is our detailed technical review for GBPUSD.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 1.306.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 1.316 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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EURAUD Is Bullish! Buy!
Take a look at our analysis for EURAUD.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 1.655.
The above observations make me that the market will inevitably achieve 1.662 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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GOLD BEARS ARE STRONG HERE|SHORT
Hello, Friends!
GOLD is making a bullish rebound on the 12H 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 2,471.289 level.
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CAD/JPY BULLS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
Previous week’s red candle means that for us the CAD/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 108.419.
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AUD/JPY SENDS CLEAR BULLISH SIGNALS|LONG
Hello, Friends!
AUD-JPY downtrend evident from the last 1W red candle makes longs trades more risky, but the current set-up targeting 99.337 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 AUD/JPY pair.
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NZD/CHF BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
NZD/CHF is making a bullish rebound on the 1H 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 0.519 level.
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AUD/CHF BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
We are targeting the 0.563 level area with our short trade on AUD/CHF 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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