CHFJPY Is Going Up! Buy!
Take a look at our analysis for CHFJPY.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 172.885.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 173.784 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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Forecast
BITCOIN BEST PLACE TO SELL FROM|SHORT
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BITCOIN 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 91,049 area.
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NZD/CHF BULLS ARE STRONG HERE|LONG
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We are targeting the 0.510 level area with our long trade on NZD/CHF 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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GBP/CAD LONG FROM SUPPORT
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GBP/CAD is making a bearish pullback on the 12H 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 1.790 level.
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GBP/AUD BULLS WILL DOMINATE THE MARKET|LONG
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It makes sense for us to go long on GBP/AUD right now from the support line below with the target of 2.022 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/USD BEARS ARE STRONG HERE|SHORT
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It makes sense for us to go short on GBP/USD right now from the resistance line above with the target of 1.243 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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A Reversal on Amazon. AMZNAlways a purely technical approach, while trading is examined. A few factors to suggest a reversal play here, and we have a double divergence on RSX momentum, diminishing volumes on the profile, apparent Elliot flat possibly in motion and a triple drive completion in position of Wave B of the flat. Inherently, reversal plays come with a higher risk nearly always, yet can be quite profitable at times. Volatility, stochastic oscillators are suggestive on the weekly chart.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green or purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than merely fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
GBPCHF: Expecting Bullish Movement! 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 GBPCHF chart which, if analyzed properly, clearly points in the upward direction.
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EURCAD: Bearish Forecast & Bearish Scenario
Balance of buyers and sellers on the EURCAD 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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US30 Will Grow! Long!
Please, check our technical outlook for US30.
Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 42,645.7.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 43,102.7 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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SILVER Will Go Higher From Support! Buy!
Here is our detailed technical review for SILVER.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 30.244.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 31.757 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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NZDCAD Will Go Higher! Buy!
Please, check our technical outlook for NZDCAD.
Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 0.804.
Taking into consideration the structure & trend analysis, I believe that the market will reach 0.814 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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GBPUSD Is Very Bearish! Short!
Here is our detailed technical review for GBPUSD.
Time Frame: 5h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 1.244.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.237 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 SENDS CLEAR BEARISH SIGNALS|SHORT
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Bearish trend on GOLD, 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 2,630.641.
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GBP/NZD BULLS ARE GAINING STRENGTH|LONG
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GBP/NZD is trending up which is obvious from the green colour of the previous weekly candle. However, the price has locally plunged into the oversold territory. Which can be told from its proximity to the BB lower band. Which presents a great trend following opportunity for a long trade from the support line below towards the supply level of 2.218.
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GBP/CHF BUYERS WILL DOMINATE THE MARKET|LONG
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GBP/CHF pair is in the uptrend because previous week’s candle is green, while the price is obviously falling on the 4H timeframe. And after the retest of the support line below I believe we will see a move up towards the target above at 1.128 because the pair is oversold due to its proximity to the lower BB band and a bullish correction is likely.
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GBP/JPY BULLISH BIAS RIGHT NOW| LONG
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GBP/JPY pair is trading in a local uptrend which know by looking at the previous 1W candle which is green. On the 1H 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 195.317 area.
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GBPUSD: Will Start Growing! 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 GBPUSD pair which is likely to be pushed up by the bulls so we will buy!
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USDCAD: Weak Market & Bearish Forecast
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 USDCAD pair price action which suggests a high likelihood of a coming move down.
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US100 Will Go Up! Long!
Here is our detailed technical review for US100.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 21,249.90.
Considering the today's price action, probabilities will be high to see a movement to 22,102.42.
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 Will Move Higher! Buy!
Take a look at our analysis for GOLD.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 2,653.865.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 2,713.989 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 Bearish! Sell!
Please, check our technical outlook for EURUSD.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 1.031.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 1.026 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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