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Parallel Channel

EURCAD Wave Analysis – 17 April 2025- EURCAD reversed from long-term resistance level 1.5840 - Likely to fall to support level 1.5400 EURCAD currency pair recently reversed down from the long-term resistance level 1.5840 (which has been reversing the price from the start of 2020) standing close to the upper daily Bollinger Band and the resistance trendline of the weekly up channel from 2022. This is the 3rd consecutive failure to break above the major resistance level 1.5840 by this currency pair from the start of this year. Given the strength of the resistance level 1.5840, overbought weekly Stochastic and the bullish Canadian dollar sentiment seen today, EURCAD currency pair can be expected to fall to the next support level 1.5400.
Short
by FxProGlobal
GOLD → Correction to support. What's next?FX:XAUUSD updates a new high to 3357. A correction is forming after Powell's speech. On the background of the bullish trend it is worth looking for stronger support levels Gold halted gains at $3,358 as traders take profits and assess the implications of Trump's tariff policy.Gold's gains on the week were driven by the escalating trade war between the US and China, fears of a US recession and a flight from risk assets. However, cautious rhetoric from Fed chief Powell and positive signals from trade talks with Japan temporarily curbed further gains in gold. But the level of risks and possible escalation of the conflict is still at a high level. It is too early to talk about the trend change. At the moment the correction to liquidity zones is forming on the background of the bullish trend. The focus is on 3296, 0.5 fibo. The price may bounce from these levels. Resistance levels: 3344, 3457 Support levels: 3320, 3296, 3275 The correction after Powell's speech may be quickly exhausted if the politicians from China and the US fuel the conflict. But any hints of negotiations and tariff cuts could be taken very positively by the market, which could lead to a reversal of the local trend. Regards R. Linda!
FX:XAUUSDLong
by RLinda
16
Nifty Parallel Channel and how things are shaping up. Nifty has closed strongly above the Mother line of Weekly chart this week. This should be considered a solid come back by Indian markets after the Trump Tariff induced fall. Indian economy is showing it's capability to bounce back on the back of strong rally in most of the sectors other than IT. Uncertainty in IT still looms as below par results that have started coming for might TCS and INfosys. We have a long weekend and uncertainties due to various announcements by global leaders regarding Tariffs can still spoil the party so one needs to be cautious in carrying huge positions over night and over the week especially in F&O trades. Nifty travelling in a Parallel channel depicted above since 2020 is just below its Mid channel resistance at 24415. If you want to see the power of Mid Channel resistnace look at how it stopped Nifty between August 22 to December 23 below it. So Mid-channel resistnace should never be taken lightly. The area is depicted in the chart for your better understanding. Even before we reach that point of major resistance, Nifty has to counter strong resistance which was high of today and this week at 23872. Closing above 24415 can enable and empower Bulls to further push Nifty towards 24894, 25K and 25383 levels if the rally continues. To know more about Parallel channel and how this Technical tool can be used to create wealth in stock market , you need to read my book The Happy Candles Way To Wealth creation. It is a highly rated book have a look at various reviews of the readers on Amazon. Both paperback and Kindle versions of the same are available on Amazon. Nifty supports in case it is not able to cross and close above the resistnace zone of 23872 and 24415 will be 23272 (Strong Mother Line Weekly Support or 50 Weeks EMA) and 22698. A closing below 22698 in case of some adverse news or global development can empower the bears and can have potential to drag Nifty towards recent low of 21743 or 52 week low of 21281. As of now things looking good but we have to wait and see the global and local developments over the weekend. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTYLong
by Happy_Candles_Investment
HelenP. I Gold will make correction movement to support zoneHi folks today I'm prepared for you Gold analytics. After a strong breakout from the ascending structure, price continued its bullish momentum and reached a fresh local high near 3340 points. This impulsive rally was preceded by a steady upward trend inside a rising channel, where the price showed multiple rejections from the lower boundary and the trend line, particularly near the 2970 level, which also matched with the key support zone at 2950 - 2970 points. The upward movement accelerated once Gold broke through the previous resistance zone around 3160 points, which is now acting as support. That level also coincides with the upper edge of the earlier consolidation area, making it a key zone for potential future reactions. At the moment, the Gold is trading far above the trend line and is extended from its last confirmed support structure. Given the sharp vertical impulse and the lack of significant pullbacks, I expect a downward correction toward the 3175 - 3160 support zone, which is my current goal. This area remains critical for evaluating the next buyer reaction and further trend continuation. If you like my analytics you may support me with your like/comment ❤️
OANDA:XAUUSDShort
by FirstNameHelen
6
Eternal : Swing / Momentum Pick#eternal #chartpattern #breakout #swingtrading #momentumstocks Eternal : Swing/Momentum Pick >> Good Clean Breakout >> Buy at CMP or if it comes near Safe Entry Zone u can add more >> Good Strength in Stock >> High Probability Chart Pattern >> min 12% upside Visible Swing Traders can Book or lock Profit at 10% and keep Trailing Disclaimer : This is not a Trade recommendation, Do your own Analysis and consult your Financial advisor before taking position in the stock. Charts Shared are for Educational Purpose only, Pls note i may or may not have position in it.
NSE:ETERNALLong
by moneyfesttrading
Worries about BTC Dominance for your Alts? Bitcoin Dominance Is Very Close to a Downtrend – Altcoin Season Is Near Bitcoin dominance is likely to enter a downtrend soon—because no uptrend lasts forever. This shift may occur within just a few weeks. As you can see in our current Scenario1 , Bitcoin dominance might sweep its previous high and reverse from there. However, if a daily candle closes above the previous high, then we move into Scenario 2. In Scenario 2 , we look toward the 0.786 Fibonacci level, which is known as a strong retracement zone. Whenever price reaches this level, it typically experiences a significant pullback or even starts a new downtrend. This gives us two strong confluences already. The third major confluence is that on the weekly timeframe, the RSI (Relative Strength Index) is consistently showing bearish divergence—which is often a clear signal that a reversal is near. Fourth confluence 21 EMA is getting close on 1W Time frame breaking 21 Ema can trigger a downtrend for BTC dominance. Don't lose hope. In short, Bitcoin dominance is close to reversing, and you just need to be a little more patient. The altcoin season you’ve been waiting for is coming soon. If you’ve made it this far—after so much pain, so many difficulties, and countless moments of doubt—then hold on just a little longer. Success is near, and your patience will soon be rewarded. Comment if you like my work and free premium updates like this and follow me to save yourself from losses and being on the wrong side. Your comment motivates me
CRYPTOCAP:BTC.DShort
by Traderscorpion
6
GOLD → If you didn't catch the train, what should you do?FX:XAUUSD in a rally. Running into a train that is already in motion is prohibited due to the lack of ability to calculate risks. Ahead of the news, a correction is possible, which will allow us to find a place to trade Gold continues to update an all-time high on the back of expectations of retail sales in the US and the speech of Fed chief Powell. Price growth was supported by strong data from China, increased demand for “protective assets” due to geopolitical tensions and trade risks between the U.S. and China. Additional support was provided by forecasts of gold price growth from ANZ to $3,600 by the end of the year Technically, the psychological zones of interest 3325 - 3350 are ahead, from which a correction may form. The ideal scenario is to wait for a correction to local or intermediate support levels and only there look for an entry point. Resistance levels: 3318, 3335, 3350 Support levels: 3275, 3265, 3244 On the background of a strong bull market it is worth using as a productive strategy to trade on the breakdown of resistance in order to continue growth, but in this case we need to wait for consolidation, we do not have it. Or wait for correction, support retest and only then consider buying. Regards R. Linda!
FX:XAUUSDLong
by RLinda
18
NZDUSD → Is there a chance for continued growth?FX:NZDUSD within the framework of the rally, which is associated with a strong decline in the dollar, is exiting the ascending channel and testing the resistance at 0.5922. Against the backdrop of the falling dollar, which is associated with economic factors, the New Zealand has good chances to continue to grow. Consolidation of the currency pair above the level will indicate the readiness of the currency pair to continue to grow. But! Today is quite a day full of economic news. Traders are waiting for Core retail sales & retail sales, as well as Powell's speech at 17:15 UTC. High volatility is possible! Resistance levels: 0.5922, 0.6038 Support levels: 0.5853 A small correction may be formed from the resistance, but another retest and price consolidation above 0.5922 may be a good signal for both the bulls and us to make decisions. The currency pair has all chances to reach 0.6000 Regards R. Linda!
Long
by RLinda
3
GBPCAD → False breakdown, where do we go from here?FX:GBPCAD is forming a false breakdown of trend support. Against the backdrop of the falling dollar, the pound sterling went into the rally phase, which is favorable for the currency pair. The fundamental situation is in favor of GBP and CAD against the dollar, which continues its rapid decline. As part of the correction, the currency pair forms a test of support without the opportunity to continue the downward movement. The maneuver ends with a false breakdown and consolidation above the level (inside the channel). The currency pair may continue the uptrend if the bulls hold the defense above 1.8144 - 1.823 Support levels: 1.81500, 1.79788 Resistance levels: 1.8233, 1.83796 Accordingly, based on the fact that we have an uptrend, a strong currency pair (on the background of a weak dollar) and a false breakdown of support, we can say that the price is not allowed down and it is worth considering an attempt to continue the uptrend. Regards R. Linda!
Long
by RLinda
1
BITCOIN (BTCUSD): Potential Scenarios Ahead of Powell Speech Bitcoin is consolidating for 5 days within a narrow range on a daily. Today's Powell speech can be a trigger for a strong bullish/bearish movement. Depending on the today's rhetorics, here are potential scenarios. Bullish If the price breaks and closes above the resistance of the range (86500), we can expect upward movement to 87500 resistance. Bearish If the price breaks and closes below the support of the range (82500), Bitcoin may drop way lower and reach 79600 level. Wait for a breakout and then follow the market. ❤️Please, support my work with like, thank you!❤️
COINBASE:BTCUSDShort
by VasilyTrader
1
Euro may correct to support area and then continue to growHello traders, I want share with you my opinion about Euro. The price started its movement inside a tight upward channel, gradually rising from lower levels. After a steady climb, the Euro broke out of the channel with a strong impulse, entering a buyer zone between 1.0870 - 1.0910 points. This zone acted as a strong base, and from there, the pair accelerated upward, eventually reaching the upper boundary of a wide horizontal range. After multiple rejections near the range’s top, the pair finally made a breakout and exited above resistance, confirming the shift in momentum. The growth didn’t stop there - price continued its rally, reaching the current support area between 1.1320 - 1.1280 points, which now aligns with a strong horizontal level at 1.1280 points. This area was successfully retested and defended by buyers. Currently, the price is consolidating slightly above this support, forming a local correction after the recent impulse. As long as this structure holds and the support area remains intact, the bullish pressure is likely to resume. Given the breakout, the strong base from the buyer zone, and the bullish market structure, I expect the Euro to continue growing toward the 1.1550 level, which is marked as my current TP1. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
20
AUDJPY: Bearish Move From Resistance Confirmed 🇦🇺🇯🇵 There is a high chance that AUDJPY will continue retracing from the underlined intraday/daily resistance. As a confirmation, I see a breakout of a neckline of a double top pattern and a violation of a support line of a rising channel. With a high probability, the price will retrace at least to 89.9 level. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Short
by VasilyTrader
Gold Wave Analysis – 16 April 2025- Gold broke resistance zone - Likely to rise to the resistance level 3300.00 Gold recently broke the resistance zone between the resistance level 3200.00 and the resistance trendline of the daily up channel from January. The breakout of this resistance zone accelerated the active short-term impulse wave 3, which belongs to the intermediate impulse wave (3) from November. Given the clear daily uptrend, Gold can be expected to rise to the next resistance level 3300.00, the breakout of which can lead to further gains toward 3400.00.
FX_IDC:XAUUSDLong
by FxProGlobal