COIN Coinbase Global Options Ahead of EarningsAnalyzing the options chain and the chart patterns of COIN Coinbase Global prior to the earnings report this week,
I would consider purchasing the 200usd strike price in the money Calls with
an expiration date of 2024-11-15,
for a premium of approximately $21.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
SELL
ETHUSDT Faces Strong Resistance, Downtrend PersistsETHUSDT is currently trading around 2,589 USDT and remains within a downward channel on the 4-hour chart. Each time the price approaches the resistance line of this channel, selling pressure increases, pushing ETH back into the downtrend. The main trend is still bearish, with signals indicating that selling pressure is dominating in the short term.
Key Analysis Points
Important Resistance Zone: ETH is facing a strong resistance level right at the upper boundary of the downward channel. This is a zone where sellers typically capitalize on to increase pressure, pushing the price back down.
Short-Term Support Level: The current support lies around 2,480 USDT. This level may trigger some defensive buy orders. However, if it is breached, ETH may continue to drop further, potentially heading below 2,400 USDT.
Next Trend: If ETH fails to break through the channel resistance, a significant correction is likely, aligning with the ongoing downtrend. In this scenario, ETH could continue to move downward, with the next target at a deeper support level.
Given the current situation, a selling strategy appears to be more promising as ETH approaches resistance zones within the downward channel without breaking through.
BTCUSDT Near Key Resistance – Another Rally Ahead?BTCUSDT is currently trading around a high of 72,890 USDT, with prices surging since its last breakout from the downtrend at 68,700 USDT.
The coin is gaining strong momentum due to several key factors:
Expectation of a Bitcoin Spot ETF in the U.S.: Investors anticipate that the SEC will approve a spot Bitcoin ETF soon, paving the way for institutional inflows.
Positive Sentiment Ahead of the U.S. Elections: Economic policy uncertainty has led investors to view Bitcoin as an alternative asset for value preservation.
Interest from Major Financial Institutions: Growing interest from top financial institutions is boosting confidence and demand for Bitcoin.
From a technical and indicator perspective, BTCUSDT is approaching a critical resistance level. If it successfully breaks through, another strong rally could be on the horizon!
EUR/USD May Decline as USD Gains on Trump-Related TradesToday, the EUR/USD pair is under pressure due to the strength of the USD, driven by expectations of higher U.S. interest rates and recent political developments. The pair has fallen to a multi-month low, hovering between 1.0685 and 1.0680.
With increased volatility around the U.S. political environment—particularly after Donald Trump’s election win—alongside a Double Top pattern on the market chart, a short-term forecast suggests that if EUR/USD breaks below the 1.07 level, it may test support around 1.05. However, if economic indicators in the eurozone improve, the EUR/USD could have potential for a rebound within its current range. The Federal Reserve's rate decisions and any new fiscal policies could further influence the currency pair's direction in the coming days.
EUR/AUD BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
EUR/AUD pair is in the downtrend because previous week’s candle is red, while the price is clearly rising on the 12H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 1.629 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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US30 Is Bearish! Sell!
Take a look at our analysis for US30.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 43,838.04.
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 42,226.86 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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NZD/USD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
It makes sense for us to go short on NZD/USD right now from the resistance line above with the target of 0.595 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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CHF/JPY BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
We are going short on the CHF/JPY with the target of 175.208 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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Global Gold Price Drops Sharply After Trump WinsAfter news of Trump’s win broke, gold prices dropped by 3% within a single day due to the strong rebound of the U.S. dollar. This decline was primarily driven by traders anticipating that Trump’s trade policies would include higher tariffs, likely keeping interest rates elevated and making gold more expensive for holders of other currencies.
According to me, gold prices began to decrease shortly after the election ended, as the U.S. dollar surged, exerting downward pressure on gold.
In the short term, gold prices may experience significant volatility as markets assess the impact of future Federal Reserve decisions and respond to global risk factors. Although fluctuations are expected, if U.S. interest rates decrease or additional geopolitical risks arise, gold prices could return to an upward trend.
EURUSD Breakout And Potential RetraceHey Traders, in today's trading session we are monitoring EURUSD for a selling opportunity around 1.07800 zone, EURUSD was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 1.07800 support and resistance zone.
Trade safe, Joe.
DXY Will Go Lower From Resistance! Sell!
Please, check our technical outlook for DXY.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 105.033.
Taking into consideration the structure & trend analysis, I believe that the market will reach 103.770 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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EURCHF Will Go Lower! Short!
Take a look at our analysis for EURCHF.
Time Frame: 3h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 0.939.
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 0.938 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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SILVER Is Bearish! Short!
Take a look at our analysis for SILVER.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 32.634.
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 30.996 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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USD/JPY BEARS ARE STRONG HERE|SHORT
Hello, Friends!
USD/JPY pair is in the downtrend because previous week’s candle is red, while the price is obviously rising on the 1H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 152.396 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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GBP/CAD BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
GBP-CAD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 1.798 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 GBP/CAD pair.
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USDJPY Rallies as Strong USD Gains Momentum Following Trump EvenUSDJPY surged today, riding the wave of a stronger USD fueled by recent events involving former President Donald Trump.
Currently trading at 154.045, the pair shows no signs of slowing down, as a definitive peak has yet to be established. We anticipate a slight pullback to confirm the trend, after which buying opportunities are expected to present themselves for continued upward movement.
EUR/USD Faces Key Resistance, Downtrend PersistsThe EUR/USD pair is currently hovering around the 1.0720 level, with the primary trend still leaning towards a decline. The chart indicates that the euro’s recovery is limited by a key resistance zone, while international market factors are not yet providing enough support to generate a clear upward momentum.
Key Technical Analysis
Important Resistance Zone (1.0900 - 1.0936): This is a strong resistance level that, without significant upward pressure, will be difficult for EUR/USD to break. Sellers are likely to increase pressure in this area, hindering the pair's potential rise.
Support Level (1.0678): This support level serves as a critical buffer zone. If EUR/USD continues to drop towards this area, it could attract some buying interest, providing short-term support for a price recovery.
XAUUSD Faces Resistance: Pullback or Breakout?The 4-hour chart of XAUUSD on November 6 shows gold encountering strong resistance at 2,756.216 USD/oz, with the 34 and 89 EMA lines forming a major barrier.
If the price fails to break through this level, there is a high probability of a pullback to the support zone around 2,729.381 USD/oz, potentially dropping further to 2,717.105 USD/oz if selling pressure increases.
Investors should watch the price action at these support and resistance levels for informed decisions, especially as the USD remains strong due to monetary policy factors and geopolitical risks.
XAUUSD - Stable transactions around 2750 USDOn the 1-hour chart, gold is currently trading around 2,745 USD/ounce, testing a key resistance zone (highlighted in yellow). This level has been challenging to break, indicating that selling pressure remains strong in this area.
Key Points to Note
Resistance and Support: The current resistance at 2,748 USD is proving difficult to surpass. If gold fails to break above this level, a correction down to the support zone between 2,732 - 2,728 USD is likely.
Short- and Long-term EMAs: The EMAs indicate that the bearish trend remains in place, with selling pressure still dominant in the market.
If gold fails to break through the 2,748 USD level, we could see a drop towards the support area at 2,732 USD. However, if it manages to break past this resistance, the next target on the upside would be around 2,756 USD.
GOLD SHORTSWHY I AM LOOKING FOR SHORTS
There is a mitigated supply zone on the left, causing a price decline and leaving an unmitigated supply area. Liquidity has built up below this zone. After the Asian session, the price swept the highs of the Asian range and tapped into the supply area. A strong rejection suggests that the price is likely to continue downward toward the Asian lows.
FUNDAMENTAL ANALYSIS
On U.S. election day, gold prices can experience volatility due to political uncertainty and market reactions. If there's significant uncertainty over the election outcome, gold often rises as investors seek safe-haven assets. A clear result, especially one that signals stability, could lead to a dip in gold prices as risk appetite increases.
SPX500USD Will Move Lower! Sell!
Here is our detailed technical review for SPX500USD.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 5,735.3.
Considering the today's price action, probabilities will be high to see a movement to 5,643.6.
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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KO Coca-Cola and the E. coli outbreak linked to McDonald’sIf you haven`t bought the dip on KO:
Now you need to know that Coca-Cola (KO) could see a decline due to the E. coli outbreak linked to McDonald’s, as the two brands have a longstanding partnership, with Coca-Cola products being served widely in McDonald's restaurants.
Negative publicity impacting McDonald's could indirectly affect Coca-Cola by reducing in-store traffic, which may lower beverage sales.
Additionally, Coca-Cola's association with fast food means that consumer sentiment shifting towards healthier options could further impact sales.
If the outbreak spurs changes in public dining behavior, Coca-Cola may face a temporary decline in demand across other food service venues, potentially impacting its stock performance.
SNAP Options Ahead of EarningsIf you haven`t bought the dip on SNAP:
Now analyzing the options chain and the chart patterns of SNAP prior to the earnings report this week,
I would consider purchasing the 11usd strike price Calls with
an expiration date of 2024-11-1,
for a premium of approximately $1.01.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.