EUR/USD: Will It Recover or Continue Downtrend?Looking at the daily chart of EUR/USD, I see that the pair is moving within a clear bearish channel. Currently, the price is hovering around 1.0297, near the center line of the channel. The EMA 34 and EMA 89 are still sloping down, confirming the long-term downtrend. However, a small divergence at the support level suggests a potential short-term recovery.
It is worth noting that the price is testing a dynamic resistance zone, near the EMA 34, around 1.0300. If the price fails to break above this level, selling pressure could increase, dragging the price down to the 1.0200 area, or even the bottom of the channel around 1.0100. Conversely, if the price breaks above the EMA 34 and breaks the channel, the next target could be the 1.0400 area.
SELL
Gold Gains Amid Low US Inflation – More Upside Ahead?
Looking at the gold price action on the 4-hour chart, I see some technical signals supporting the possibility of a price increase. Currently, the price is hovering around $2,699 and maintaining above the EMA 34 ($2,693) and EMA 89 ($2,672). This shows that the uptrend is still dominant. At the same time, the price bounced after touching near the EMA 34 in the recent session, reinforcing the important support role of this area.
The arrangement of the EMAs still supports the uptrend, with the EMA 34 above the EMA 89. This combined with the recovery momentum from technical support creates expectations that the price will test the important resistance zone at $2,728. A break of this level would open the possibility of a price increase to the $2,750 area and higher. However, it should be noted that the support zone at $2,693 (34 EMA) will be the first line of defense if the price corrects. If the price breaks this zone, selling pressure could push the price down to the $2,672 (89 EMA) zone.
Fundamentals: Lower-than-expected inflation data has reinforced expectations that the US Federal Reserve (FED) will continue to cut interest rates, which will weaken the USD and increase the appeal of gold as a safe-haven asset. At the same time, investors are still waiting for economic policy information after Donald Trump returns to the White House.
I see gold in a short-term consolidation but has the potential to bounce if it breaks the important resistance zone. Watch the $2,728 zone closely to assess the next market momentum.
NAS100USD Is Going Down! Short!
Take a look at our analysis for NAS100USD.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 21,454.6.
The above observations make me that the market will inevitably achieve 20,638.8 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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USOIL SHORT FROM RESISTANCE
Hello, Friends!
USOIL uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 72.06 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the USOIL pair.
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GBPJPY Potential DownsidesHey Traders, in tomorrow's trading session we are monitoring GBPJPY for a selling opportunity around 190.800 zone, GBPJPY is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 190.800 support and resistance area.
Trade safe, Joe.
GBPCHF Potential DownsidesHey Traders, in tomorrow's trading session we are monitoring GBPCHF for a selling opportunity around 1.11500 zone, GBPCHF is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.11500 support and resistance area.
Trade safe, Joe.
ETHUSD Will Go Lower From Resistance! Sell!
Here is our detailed technical review for ETHUSD.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 3,267.2.
Considering the today's price action, probabilities will be high to see a movement to 2,920.3.
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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EURNZD Will Go Lower! Short!
Please, check our technical outlook for EURNZD.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 1.839.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 1.826 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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SPY SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
SPY pair is trading in a local uptrend which we know by looking at the previous 1W candle which is green. On the 5H timeframe the pair is going up too. 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 586.47 area.
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GBP/CAD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
GBP/CAD is making a bullish rebound on the 3H TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 1.746 level.
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US30 Will Go Down! Sell!
Here is our detailed technical review for US30.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 43,233.41.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 42,564.96 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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USDCHF Is Very Bearish! Short!
Take a look at our analysis for USDCHF.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 0.916.
The above observations make me that the market will inevitably achieve 0.910 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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BITCOIN BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
The BB upper band is nearby so BITCOIN is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 96,229.
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GBP/NZD BEARS ARE STRONG HERE|SHORT
Hello, Friends!
GBP/NZD is trending down which is evident from the red colour of the previous weekly candle. However, the price has locally surged into the overbought territory. Which can be told from its proximity to the BB upper band. Which presents a classical trend following opportunity for a short trade from the resistance line above towards the demand level of 2.168.
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Will the USD pressure last?On the 4-hour chart, gold prices remain within the uptrend channel established since late December 2024. Despite the sharp corrections in the recent session, the current price ($2,670/ounce) is still above the dynamic support zone of the EMA 34 and EMA 89, indicating that the uptrend has not been broken. However, the pressure from the USD Index – which rose to a 2-year high of 109.35 points – is causing gold to lose short-term momentum.
On a closer look, the important resistance zone at $2,696/ounce, corresponding to the recent peak, has triggered strong selling pressure. Meanwhile, the RSI in previous analyses has shown signs of overbought conditions, increasing the possibility of a correction. However, the main trend line and the $2,660/ounce support zone are still acting as psychological support for the bulls.
In terms of news, the strength of the USD comes from two factors: positive US economic data and high bond yields (nearly 4.8%). These yields have attracted capital flows away from gold to invest in bonds. In addition, investors are worried about financial instability before Donald Trump returns to the White House on January 20. This uncertainty could spur some gold buying to hedge against risks, creating support for gold prices in the short term.
Personal trading strategy:
Bullish scenario: If the price holds above the $2,660/ounce support zone, I expect the price to bounce back to test the $2,696 zone. A breakout of this zone could push the price towards the target of $2,720.
Bearish scenario: If price breaks the $2,660 zone and the 89 EMA, I expect price to fall further to the $2,640/ounce support zone, or even $2,620.
Complete analysis of Bitcoinhello friends
We came with Bitcoin analysis.
After a strong rising wave, we entered the channel phase and entered the correction phase with a falling pattern at the ceiling.
Now we have identified for you the first identified support that we expect to reach there.
If the support range is maintained, we will go for a new ceiling, but if the range is validly broken, we should expect a deeper correction than the 85 range.
*Trade safely with us*
DXY Is Going Down! Short!
Take a look at our analysis for DXY.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 109.133.
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 107.416 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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USOIL Will Fall! Sell!
Please, check our technical outlook for USOIL.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 79.103.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 74.465 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!
EURUSD Will Go Down From Resistance! Short!
Here is our detailed technical review for EURUSD.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 1.028.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.020 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.
Like and subscribe and comment my ideas if you enjoy them!