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Resistance_level

GBPUSD: Could the FOMC set up a resistance break?Today's focus: GBPUSD Pattern – HH HL continuation Possible targets – 1.2683, 1.2980 Support – 1.2305, 1.2493 Resistance – 1.2640, 1.2660 Today’s focus is on the GBPUSD after buyers made another strong move higher on Wednesday. That move continues the series of HLs and HHs this is a good thing to see in the current short-term uptrend. As discussed in today’s video, our attention is now on key resistance that has stood since May 22. Could a dovish tone from the Fed set the USD up for more downside? We did see a fightback after the CPI data and the Core remained high at 0.4%. If the Fed hold rates and hint more towards the dovish side in the statement, could that set the GBPUSD up for a new test or break of resistance, setting off a new trend continuation? For now, the GBPUSD, despite its short-term bullish move, remains consolidation bound.
Long
by Eightcap
BTC - respecting the bear market resistance!Here's a quick comparison of two periods in bitcoins history The current market period appears to unfold similarly to the one observed in 2021. If this trend continues, the market will likely experience a downward movement, potentially leading to a decline in value to 13.5k. While it's true that history doesn't necessarily have to repeat itself, it is often observed that historical patterns tend to rhyme with the present. Moreover, the price of Bitcoin was recently rejected from the bear market downtrend resistance, indicating a potential move to the previous bottom of $15.5k, which is consistent with the concept of the price following a pattern reminiscent of the 2021 summer period. It's also worth mentioning that the S&P 500 has been showing some weakness, and since BTC typically moves in lockstep with the S&P 500, it can be prudent to monitor its movement. The bear market probability index is currently at an all-time high, which suggests that the ongoing rally could be considered the biggest bull trap ever witnessed in the history of Bitcoin. While relying on a solitary model is insufficient for drawing definitive conclusions, numerous indicators suggest a downward price trend in this case. The US interest rate has reached the same level as it was during the onset of the 2008 Financial Crisis market decline. This should be taken into consideration. Despite this, on Twitter, someone claims almost every other day that BTC will reach 100k soon. However, in my opinion, this is complete nonsense. Given the current state of the financial market, it's not ready for a sustained uptrend. Lastly, the market is experiencing a notable increase in fear, likely due to multiple factors simultaneously impacting the market. Based on historical precedent, it is reasonable to anticipate significant downward market movements should prior trends repeat themselves. With regards to DXY The current market analysis indicates a significant double-bottom reversal in the DXY index, with expectations of reaching a minimum index level of 105 soon. Moreover, should resistance zone 1 be surpassed, a subsequent movement towards resistance zone 3 is expected! It is crucial to note that if the DXY index maintains its upward momentum, it may exert considerable downward pressure on both the stock and cryptocurrency markets. Consequently, it is advisable to closely monitor the movements of the DXY index, particularly for those involved in stock or cryptocurrency investments.
Short
by MBM_Crypto
15
GBPUSD Bullish 3-Drives Pattern (LONG)On the GBPUSD 4 Hour chart, there are multiple indications that there will be a bullish move soon. 1) There is a bullish 3-Drives pattern. Price should move higher to at least the 38.2% Fibonacci level. 2) There is a trendline which has acted as resistance and tested multiple times. It is likely to attract price and be tested again. 3) Stochastic (default settings) indicates an oversold condition. Price is currently 1.2356 The 38.2 minimum target is at the 1.2400 level. Which is also a good psychological level. So this can be a good in and out trade for a profit of 44 pips minimum.
Long
by EACoders
USD Can Make A Pullback As US Yields DropUSD keeps moving higher, possibly on speculation that House vote on U.S. debt ceiling today will pass today. However, stocks are down, which can have something to do with China, where the PMI index declined once again, and also faster than expected. Technically speaking, USD is in uptrend, but yields found some resistance recently so I am wondering if USD is possibly also going to have limited gains. Looking at DXY intraday chart we see nice recovery, but now in late stages of an impulse from May 04 so we are aware of a pullback, possibly will show up as we will get an outcome from the House vote, or USD can slow down later this week when we will get the US NFP data. But keep in mind that we will be tracking only a correction here on XXX/USD pairs and that more upside will be expected for the USD, once DXY makes three wave retracement.
TVC:DXY
by ew-forecast
XAU/USD Swing Trade PlanHello Guys. Hope you have good times and great trades too! Today i'm going to explain why GOLD will fall to at least 1930 in coming days. First of all as you can see in my chart we see a strong Bearish Divergence Between RSI and price in Daily TF , that i show them with white lines. Next , We can see a Evening Star Pattern in this strong Resistance level(2050 $). After that we pass through 20 and 50 MA 's and according to Pullback to MA50 , I personally predict we can continue downside. as you can see we have a trendline base don the pervious two bottoms. And this Trendline Overlap with MA100(Green line). So i think this is the first Target for the price in the way of going down. For later happenings we should follow chart and see what candles shape in this area. But Don't forget to SET a Good Stoploss in Lower timeframe , if you want to catch this Fish :) Hope you Enjoy my opinion and PLEASE Share me your idea in comments , Let me Learn something from you. THANKS all my friends. Good Luck.
FXOPEN:XAUUSDShort
by TraderAmin-KZ
6
USDJPY returns to its proving groundToday's focus USDJPY Pattern – Resistance test. Possible targets – 138.50 (Upside) 136.30 (Downside) Support – Resistance – 137.75 Here we are again back at the 137.75 area that has stopped USDJPY rallies since it developed around December 2022. This is the fifth rally from buyers that has tested this area. Will we finally see a break of this level this time around, or will we see sellers continue to hold firm? In our opinion, a lot will come down to yen strength as it was driving the run. The JPN225 has also been staring, hitting levels close to its 2021 high. If we see a small retreat, that's not a bad thing, but we want to see a quick HL and new test of resistance to show buyers hold momentum. A move back below 136.30 or a new LH followed by a new move lower below resistance will be a worry around buyer strength. What do you think? Will we see a break of this level today or during the rest of the week? Thanks for stopping by. Good trading, and have a great day.
by Eightcap
GBPUSD short ideaGBPUSD SHORT Opportunity Hello FX traders, here's a chance to Sell the GBPUSD pair. Despite the BIG rise recently, the price behavior showed some weakness since the beginning of this year, as it started to show lower highs and lower lows. What reinforces the expectations of the decline are the fluctuating conditions in the United Kingdom, which will be reflected sooner or later in the pound sterling price against the rest of the currencies. In this analysis, I rely on the trend line drawn above the price, in addition to the price being the May 2022 peak (1.26500). The opportunity will be active when the price hits 1.2650 TP1: 1.2470 TP2: 1.2280 SL: 1.2730 Goodluck.
Short
by Hump_Trader