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GBP/USD steadies above 1.3050Hello dear friends! As we predicted, GBP/USD fluctuated and fell sharply until 1.302 and completed the sell target as mentioned earlier. However, the price quickly reversed and stabilized around 1.306. The upside momentum of GBP/USD may be limited by the sustained strength of the US dollar, due to the geopolitical risks looming around the world and concerns about China's economy, keeping the pair within a familiar range. In conclusion, GBP/USD is still in a downtrend, but the selling pressure has gradually decreased and the possibility of a move to the upside is due to the convergence signs from the trend line and RSI indicator. The support level around 1.302 - 1.300 has not been broken yet and remains a bright spot for GBP/USD to recover.
Long
by ConanTradingFX
Update the latest ETHSDT today. The Ethereum (ETH/USDT) chart presented shows a descending channel pattern with clear lower highs and lower lows. The price is currently sitting around $2,544, but it recently tested the upper boundary of the channel near $2,660. The rejection at this level, coupled with the downward trajectory, suggests potential bearish momentum. The chart indicates that if Ethereum fails to break above this resistance, it could move lower toward the lower boundary of the channel, targeting a level near $2,200. The moving averages (likely EMA) further support the downward trend as they are sloping downward, suggesting that selling pressure may continue in the short term. Key levels to watch are the resistance at $2,660 and potential support near $2,270. A break below the current support could push Ethereum toward the lower end of the trend channel.
by Suyouu
EUR/USD: Ready for a recovery?Hello traders! Today, EUR/USD continued its downtrend for the fourth consecutive session, hovering around 1.0920 during Asian trading hours on Monday. The Euro faced downward pressure as the European Central Bank prepares for its monetary policy decision on Thursday. Looking at the technical chart, the pair remains in a downtrend, but selling pressure has gradually subsided and is likely to turn sideways as signs of convergence from the trendline and RSI indicators have emerged, and the strong support level of 1.0900 has not been broken and remains a bright spot for recovery. In case EUR/USD closes at 1.0950 on the 4-hour chart, it could accelerate its momentum further, potentially reaching 1.0995 and 1.1075. What about you? How do you feel about the future trend of EUR/USD? Share in the comments!
Long
by ConanTradingFX
Gold price today: Reversal to increase. Today's gold price has experienced a slight upward movement, currently hovering around $2,657 per ounce, with an increase of 0.39%. According to the chart, the price broke above the key resistance level at $2,660. However, there is still a significant resistance around the $2,686 mark. A breakout above this level could lead to further bullish momentum, possibly pushing gold toward the $2,700 range. Technical indicators suggest the market is consolidating around these levels, with the price moving above key EMAs, showing potential for further upside. However, a failure to sustain the momentum could bring the price back to the support zone near $2,636​.
OANDA:XAUUSDLong
by Pierce_Bowers
Gold price today.Gold extended its rally on Friday as U.S. inflation data further strengthened expectations for an interest rate cut later this year. At the same time, safe-haven demand surged amid growing concerns over geopolitical tensions in the Middle East, providing an additional boost to bullion prices. A report released during the day showed U.S. producer prices remained unchanged in September, signaling a favorable inflation outlook and reinforcing hopes that the Federal Reserve will lower rates next month. In this context, the PPI figures appear to favor the bulls in the precious metals market, suggesting that the Fed is still on track to proceed with its anticipated rate cut.
OANDA:XAUUSD
by Pierce_Bowers
Bitcoin Consolidates in Sideways Range. The chart illustrates a sideways movement, with Bitcoin’s price fluctuating within a range defined by the upper and lower bands of the Bollinger Bands. The support and resistance levels are clearly marked around $58,933.82 and $66,186.62, respectively. The price action is constrained between these limits, indicating a lack of momentum and a consolidation phase. The EMA 34 and 89 are showing weak activity, reflecting the indecisiveness in the market, with no clear signs of a breakout either upwards or downwards. Until the EMAs show a stronger trend signal, the market is likely to remain in this sideways range. In conclusion, the market is in a consolidation phase, and traders should wait for a breakout from the Bollinger Bands for a clearer direction.
by Suyouu
NZDUSD Is Going Down! Short! Here is our detailed technical review for NZDUSD. Time Frame: 2h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 0.610. Considering the today's price action, probabilities will be high to see a movement to 0.605. 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. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
2
ETHUSDT : SELL or BUY ? The ETH/USDT chart reveals a clear long-term downtrend, with prices steadily moving within a descending channel. Here's a more detailed analysis and a trading strategy based on the current market setup: Analysis: Downtrend: Ethereum has been consistently forming lower highs and lower lows, indicating a strong bearish momentum. Key Resistance: The price is approaching a crucial resistance level around 2,670 USDT, marked by the upper boundary of the descending channel. This area is likely to act as a significant barrier. Projection: Given the overall bearish structure, it’s highly probable that the price will meet resistance at this level and resume its downward trajectory towards the lower boundary of the channel. Trading Strategy: Entry: Consider entering a short position as the price nears the resistance at 2,670 USDT. This area presents a strong opportunity to capitalize on the continuation of the bearish trend. Take Profit: Target profit levels around 2,300 USDT, or potentially lower, towards 2,100 USDT, where the channel's support lies. Stop Loss: A tight stop loss should be placed just above the resistance zone, around 2,700 USDT, in case the price unexpectedly breaks out to the upside. Final Thoughts: The market sentiment remains bearish for Ethereum, and this setup offers a compelling opportunity to ride the downtrend. As always, caution is key, but the technical signals here suggest that the bears are still in control, and this resistance could be a prime entry point for those looking to short ETH
by Suyouu
Gold prices unexpectedly increased at the end of the sessionWith positive signals from the breakout of the downtrend channel and the support of the EMAs, gold (XAUUSD) is showing a great opportunity for investors. If the price continues to hold above the $2,636 zone and breaks out above the $2,665 level, we can expect a strong rally to $2,680 and beyond. Trading recommendation: Investors can consider buying orders when the price remains above the $2,636 support zone, with profit targets at $2,665 and $2,680.
OANDA:XAUUSDLong
by ConanTradingFX
SPX Will Go Lower! Sell! Take a look at our analysis for SPX. Time Frame: 4h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 5,780.02. The above observations make me that the market will inevitably achieve 5,678.77 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. Like and subscribe and comment my ideas if you enjoy them!
TVC:SPXShort
by SignalProvider
2
ETHUSDT and long term profit strategy. Technical Overview: Ascending Trendline Support: The chart shows a long-term upward trendline, suggesting a steady support level around the $2,000 - $2,200 area. This trendline has historically provided strong support for price rebounds. Symmetrical Triangle Formation: ETHUSDT is currently consolidating within a symmetrical triangle pattern (highlighted in red), indicating indecision in the market. This pattern often leads to a breakout, with a likely strong price movement in either direction. Potential Breakout: The breakout point appears to be nearing, with price action expected to either bounce from the lower trendline or break through the triangle’s upper boundary. A breakout above $2,532 could lead to a strong upward move toward the next key resistance around $2,817. Bullish Scenario: If ETH breaks out to the upside, the next major target would be the $3,000+ region, indicated by the blue upward arrow. The current consolidation may be a period of accumulation before a bullish move. Bearish Scenario: If the price breaks down from the triangle and the trendline, ETH could revisit the support around $2,000 or lower, but this scenario appears less likely based on current momentum. Conclusion: Ethereum is at a critical juncture, with the symmetrical triangle and long-term trendline suggesting a breakout is imminent. Traders should watch closely for a breakout signal, with a preference for the upside targeting the $3,000 level.
by Suyouu
Latest SOLUSDT update todayAs the SOLUSDT pair continues its movement within a well-defined descending triangle pattern, traders are closely watching the price action unfold on the 4-hour chart. This bearish continuation pattern is gaining attention as the price forms a series of lower highs, with a consistent support level provided by an ascending trendline. Key Resistance Zone Holds Firm SOL’s price is currently trading near a key resistance zone, ranging from 142.54 to 144.48 USDT, which has acted as a barrier to upward momentum on multiple occasions. Despite attempts to break through, the market appears to be respecting this zone, further increasing the likelihood of continued downside pressure. Bearish Outlook Strengthening The descending triangle pattern typically signals a potential breakdown, especially as the price continues to be compressed within the narrowing range. If the price fails to push past the upper boundary of the triangle and encounters rejection within the resistance zone, it could lead to a strong bearish move. A decisive break below the 137 USDT level, marking the lower boundary of the triangle, would confirm the breakdown. Should this occur, SOLUSDT may target the next major support level around 130 USDT, as the bearish sentiment dominates short-term market dynamics.
Short
by Suyouu
XAUUSD: Regaining the psychological threshold of 2650Dear friends, XAUUSD continues to gain some recovery momentum as it has reclaimed 2600, but the main trend and the long-term trend are still moving sideways. Currently, the price is approaching the psychological level of 2650 and at the same time is approaching the limits of the Bollinger Bands. A downside correction is expected when the pair reaches the level, the targets are the support levels of 2625 and 2605. And you, how do you think XAUUSD will move on the last trading day of the week!
OANDA:XAUUSDShort
by ConanTradingFX
EURUSD: Prolonged bearish momentum.The September Fed meeting minutes showed a dovish stance on monetary policy, pushing the USD higher and forcing EUR/USD lower. In response to the above information, the price slid to the support level of 1.0950 and the EMA 34 - 89 is maintaining a steady downtrend, indicating that the sellers are still dominant. That is why I set my target at the round level of 1.0800, which matches the lower boundary as indicated on the chart. What do you think about this view?
Short
by ConanTradingFX