NAS100 Will Go Up From Support! Long!
Take a look at our analysis for NAS100.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 20,379.97.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 20,800.00 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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Forecast
SILVER Will Go Lower! Short!
Please, check our technical outlook for SILVER.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 34.071.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 33.443 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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GBPJPY Will Move Higher! Buy!
Take a look at our analysis for GBPJPY.
Time Frame: 1h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 199.119.
The above observations make me that the market will inevitably achieve 199.813 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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USDJPY Is Going Up! Long!
Take a look at our analysis for USDJPY.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 151.777.
The above observations make me that the market will inevitably achieve 153.232 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 BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
GOLD pair is in the uptrend because previous week’s candle is green, while the price is obviously rising on the 8H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 2,683.880 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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NZD/CHF BUYERS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
NZD/CHF pair is trading in a local downtrend which we know by looking at the previous 1W candle which is red. On the 8H 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 0.525 area.
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GBP/CAD BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
We are going short on the GBP/CAD with the target of 1.784 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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GBP/AUD BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
We are now examining the GBP/AUD 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 1.957 level.
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EUR/GBP BULLS ARE STRONG HERE|LONG
Hello, Friends!
Bullish trend on EUR/GBP, defined by the green colour of the last week candle combined with the fact the pair is oversold based on the BB lower band proximity, makes me expect a bullish rebound from the support line below and a retest of the local target above at 0.833.
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NZDCHF: Price Action & Swing Analysis
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 NZDCHF pair price action which suggests a high likelihood of a coming move up.
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DXY Is Bullish! Long!
Please, check our technical outlook for DXY.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 104.214.
The above observations make me that the market will inevitably achieve 104.676 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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GOLD Is Very Bullish! Buy!
Here is our detailed technical review for GOLD.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 2,730.973.
Taking into consideration the structure & trend analysis, I believe that the market will reach 2,782.993 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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GBPUSD Is Going Up! Long!
Take a look at our analysis for GBPUSD.
Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 1.296.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.306 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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EURJPY Will Grow! Buy!
Please, check our technical outlook for EURJPY.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 165.018.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 167.407 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 BULLS ARE STRONG HERE|LONG
Hello, Friends!
It makes sense for us to go long on USOIL right now from the support line below with the target of 71.76 because of the confluence of the two strong factors which are the general uptrend on the previous 1W candle and the oversold situation on the lower TF determined by it’s proximity to the lower BB band.
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GBP/NZD SHORT FROM RESISTANCE
Hello, Friends!
Previous week’s green candle means that for us the GBP/NZD 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 2.160.
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EUR/NZD BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
EUR-NZD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 1.801 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/NZD pair.
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EUR/AUD SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
EUR/AUD pair is in the uptrend because previous week’s candle is green, while the price is clearly rising on the 1H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 1.633 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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USOIL BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
We are now examining the USOIL 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 68.29 level.
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USOIL: Weak Market & Bearish Continuation
Balance of buyers and sellers on the USOIL pair, that is best felt when all the timeframes are analyzed properly is shifting in favor of the sellers, therefore is it only natural that we go short on the pair.
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