Hey SPY Lovers! We are on a slow recoveringThe price touched our area of interest and has started to bounce back upwards. As you can see in the indicator, the SPY is beginning its slow strength. If you Compare the structure with the oscillator on the bottom, you will see there will be a bull run soon .
The question is: will this be the bull run we've been looking for, to reach our area of interest or even higher?
No one knows for sure, but for now, I want to show you that the SPY is starting the recovery process.
HERE IS THE KEY: We need to pay much attention to Nvidia's report because, if you remember, the last time they reported, it practically pushed all the markets to new highs!
Let's see what happens."
Forecast
NAS100USD Will Go Down From Resistance! Short!
Please, check our technical outlook for NAS100USD.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 17,898.1.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 17,009.2 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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LTCUSD Will Go Lower! Sell!
Here is our detailed technical review for LTCUSD.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 58.45.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 54.04 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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AUDUSD Will Go Down! Short!
Take a look at our analysis for AUDUSD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 0.656.
The above observations make me that the market will inevitably achieve 0.651 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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NZDUSD Will Move Lower! Sell!
Please, check our technical outlook for NZDUSD.
Time Frame: 5h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 0.600.
Taking into consideration the structure & trend analysis, I believe that the market will reach 0.593 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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USOIL SHORT FROM RESISTANCE
Hello, Friends!
Bearish trend on USOIL, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 71.64.
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GBP/JPY BULLS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
GBP-JPY downtrend evident from the last 1W red candle makes longs trades more risky, but the current set-up targeting 197.213 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 GBP/JPY 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 1D timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 1.632 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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AUD/USD BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
AUD/USD pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 2H 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 0.647 area.
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ETH has taken a beating in recent days but still in the gameEthereum has taken a beating in recent days, but it is still at an excellent price to buy. As we can see, the price continues to fluctuate in a liquidity zone, or as I call it, a buyer pressure zone. My forecast is that Ethereum could continue in that zone, accumulating before taking off later on. Meanwhile, we remain in a demand zone and are accumulating.
Regards, and thank you for the support.
Believe it or not, Bitcoin is still in the gameDespite Bitcoin showing a bear market in recent days, it remains within a range and fluctuating within a demand zone. Our point of interest is still very high, but still valid for the price to take a break before the jump. if you can look the general structure, we can see that where I marked the green circle, there is a lot of buying pressure. This is also an area of interest that I had marked as a potential rebound point. We will see what happens in the coming days.
Thank you for your support.
-Mike
DXY Is Bearish! Short!
Here is our detailed technical review for DXY.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 103.249.
Considering the today's price action, probabilities will be high to see a movement to 101.633.
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 Bearish! Sell!
Take a look at our analysis for GOLD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 2,393.798.
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 2,369.013 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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USDCHF Is Going Down! Short!
Please, check our technical outlook for USDCHF.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 0.857.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 0.847 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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EURAUD Will Grow! Long!
Here is our detailed technical review for EURAUD.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 1.668.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 1.682 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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GBPCHF Will Go Down! Short!
Take a look at our analysis for GBPCHF.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 1.090.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.081 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.
Like and subscribe and comment my ideas if you enjoy them!
GOLD BUYERS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
We are targeting the 2,453.296 level area with our long trade on GOLD which is based on the fact that the pair is oversold on the BB band scale and is also approaching a support line below thus going us a good entry option.
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NZD/USD BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
We are now examining the NZD/USD 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 0.595 level.
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GBP/USD BEST PLACE TO BUY FROM|LONG
Hello, Friends!
The BB lower band is nearby so GBP/USD is in the oversold territory. Thus, despite the downtrend on the 1W timeframe I think that we will see a bullish reaction from the support line below and a move up towards the target at around 1.280.
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