GBPAUD: Bullish Continuation is Expected! Here is Why:
It is essential that we apply multitimeframe technical analysis and there is no better example of why that is the case than the current GBPAUD chart which, if analyzed properly, clearly points in the upward direction.
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Forecast
DXY Will Will Move Higher! Buy!
Here is our detailed technical review for DXY.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 102.207.
Considering the today's price action, probabilities will be high to see a movement to 103.310.
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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USOIL Is Bullish! Long!
Take a look at our analysis for USOIL.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 76.058.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 78.548 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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EURUSD Is Very Bearish! Short!
Please, check our technical outlook for EURUSD.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 1.103.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 1.093 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 SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
We are going short on the GOLD with the target of 2,437.503 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/CHF BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
We are now examining the GBP/CHF 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 1.084 level.
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EUR/CHF SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
The BB upper band is nearby so EUR-CHF 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 0.941.
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EUR/AUD BULLISH BIAS RIGHT NOW| LONG
Hello, Friends!
Previous week’s red candle means that for us the EUR/AUD 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 1.663.
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NQ1! BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
NQ1! 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 classical trend following opportunity for a short trade from the resistance line above towards the demand level of 17,296.75.
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USOIL: Expecting Bullish Movement! Here is Why:
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 USOIL pair which is likely to be pushed up by the bulls so we will buy!
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EUR/JPY BEARS ARE STRONG HERE|SHORT
Hello, Friends!
EUR/JPY 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 155.714 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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TESLA: Weak Market & Bearish Continuation
Balance of buyers and sellers on the TESLA 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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DJI Will Fall! Short!
Take a look at our analysis for DJI.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 40,668.09.
The above observations make me that the market will inevitably achieve 40,100.63 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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GBPUSD Will Go Lower From Resistance! Sell!
Please, check our technical outlook for GBPUSD.
Time Frame: 15m
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 1.293.
Taking into consideration the structure & trend analysis, I believe that the market will reach 1.292 level soon.
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 Will Go Lower! Short!
Here is our detailed technical review for SILVER.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 29.041.
Considering the today's price action, probabilities will be high to see a movement to 27.071.
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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GBPJPY Will Go Up! Buy!
Take a look at our analysis for GBPJPY.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 190.949.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 192.040 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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GBPCAD Will Move Lower! Sell!
Please, check our technical outlook for GBPCAD.
Time Frame: 3h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 1.768.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 1.760 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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NG1! SHORT FROM RESISTANCE
Hello, Friends!
NG1! pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 12H 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 1.857 area.
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EUR/CAD BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
We are going short on the EUR/CAD with the target of 1.494 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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EUR/GBP SENDS CLEAR BULLISH SIGNALS|LONG
Hello, Friends!
EUR/GBP is making a bearish pullback on the 5H TF and is nearing the support line below while we are generally bullish biased on the pair due to our previous 1W candle analysis, thus making a trend-following long a good option for us with the target being the 0.854 level.
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AUDCAD: Bearish Forecast & Bearish Scenario
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 AUDCAD pair price action which suggests a high likelihood of a coming move down.
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