CADJPY Will Go Higher! Buy!
Here is our detailed technical review for CADJPY.
Time Frame: 15m
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 105.556.
Taking into consideration the structure & trend analysis, I believe that the market will reach 106.166 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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Forecast
DXY Will Grow! Long!
Here is our detailed technical review for DXY.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 103.207.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 105.057 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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GBP/USD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
It makes sense for us to go short on GBP/USD right now from the resistance line above with the target of 1.274 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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USD/CAD BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
We are now examining the USD/CAD 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 1.378 level.
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USOIL SENDS CLEAR BULLISH SIGNALS|LONG
Hello, Friends!
We are going long on the USOIL with the target of 78.81 level, because the pair is oversold and will soon hit the support line below. We deduced the oversold condition from the price being near to the lower BB band. However, we should use low risk here because the 1W TF is red and gives us a counter-signal.
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NATGAS: Bullish Continuation is Expected! 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 NATGAS pair which is likely to be pushed up by the bulls so we will buy!
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USDJPY Will Go Higher From Support! Buy!
Take a look at our analysis for USDJPY.
Time Frame: 30m
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 146.479.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 147.382 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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ETHUSD Will Go Up From Support! Long!
Please, check our technical outlook for ETHUSD.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 2,983.0.
The above observations make me that the market will inevitably achieve 3,315.8 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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SILVER SHORT FROM RESISTANCE
Hello, Friends!
SILVER pair is in the downtrend because previous week’s candle is red, while the price is clearly rising on the 7H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 27.248 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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AUD/USD BULLS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
AUD/USD pair is trading in a local downtrend which we know by looking at the previous 1W candle which is red. On the 1D 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 0.663 area.
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CHF/JPY LONG FROM SUPPORT
Hello, Friends!
CHF/JPY pair is trading in a local uptrend which know by looking at the previous 1W candle which is green. On the 1D timeframe the pair is going down. 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 175.610 area.
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Ethereum 2nd Test on our demand zoneEthereum decided not to continue with the trend but to conduct a second test before the rally. This pattern is very natural when the market breaks a channel and seeks equilibrium points in demand zones.
Our plan remains in place. Remember that markets need to make pauses or retests before taking action. Additionally, we must consider that markets, in general, have been bearish—we are in a bear market. However, the points of interest I have marked are based on historical prices and significant liquidity, so we can expect aggressive movements once the price reaches the indicated zones.
Thank you for your support, and don't fear these bear markets; on the contrary, we should average in and take advantage of the opportunities they offer us.
Regards
SPY: Forecast & Trading Plan
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 up.
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BITCOIN Is Bearish! Sell!
Here is our detailed technical review for BITCOIN.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 64,505.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 61,501 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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EURNZD Will Go Up From Support! Buy!
Please, check our technical outlook for EURNZD.
Time Frame: 1h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 1.818.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.825 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 BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
Bearish trend on SILVER, 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 27.268.
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GBP/NZD BULLS ARE GAINING STRENGTH|LONG
Hello, Friends!
It makes sense for us to go long on GBP/NZD right now from the support line below with the target of 2.191 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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NZDUSD: Weak Market & Bearish Forecast
Balance of buyers and sellers on the NZDUSD 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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NAS100 Will Move Higher! Long!
Please, check our technical outlook for NAS100.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 18,597.51.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 19,559.12 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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EURUSD Is Very Bearish! Short!
Take a look at our analysis for EURUSD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 1.081.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.077 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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