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Strong Bearish Pressure Below EMAsThe EUR/USD pair is showing a strong bearish bias, as shown by the 34 EMA crossing below the 89 EMA, a classic bearish sign. This suggests that the market could continue this trend as long as the selling pressure has not subsided, especially as the price continues to trade below both EMAs. On the Fibonacci Retracement chart, the current price zone of EUR/USD is near the 1.1038 level, an area that has served as support for previous rallies. A break of this level could take the pair down to the next support level of 1.09826, according to the 1.618 Fibonacci ratio, which if broken could open a deeper downtrend. Entry Point: Long Position: If the EUR/USD pair rebounds and breaks above the EMA resistance, a short-term long position could be considered. Enter when price breaks above 1.1080. Sell: Enter a sell order if price breaks below 1.1038 support and continues to trend lower. Take Profit (TP): Buy: Place TP around 1.1130, close to the next resistance level on the chart. Sell: Place TP at 1.09826, in line with the 1.618 Fibonacci level where price could find new support. Stop Loss (SL): Buy: Place SL below EMA 89, around 1.1040, to minimize risk if the recovery does not occur as expected. Sell: Place SL above 1.1080, just above EMA 34, to protect the order from sudden moves that could push price back into the uptrend.
by Naoomi
DXY Will Go Lower! Short! Here is our detailed technical review for DXY. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 101.521. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 100.405 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:DXYShort
by SignalProvider
6
USDCAD Will Move Lower! Sell! Here is our detailed technical review for USDCAD. Time Frame: 5h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 1.356. Considering the today's price action, probabilities will be high to see a movement to 1.352. 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!
Short
by SignalProvider
1
GBPCAD Will Go Down From Resistance! Short! Please, check our technical outlook for GBPCAD. Time Frame: 1h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 1.782. Taking into consideration the structure & trend analysis, I believe that the market will reach 1.779 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. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
XAUUSD Breakout: Awaiting a New Bullish WaveXAUUSD is currently trading within a descending channel and has successfully broken out above this trend. The EMA 34 and EMA 89 have crossed, signaling a potential bullish reversal in the market. The current resistance level is around 2,525, while the short-term support is around 2,485. XAUUSD is likely to fluctuate between 2,480 - 2,530, with a potential rise to 2,530, followed by a correction back to 2,490. Regarding news: Factors influencing gold prices include inflation reports, the Federal Reserve's interest rate policies, U.S. economic data, USD fluctuations, and geopolitical events.
OANDA:XAUUSDLong
by Zola_Hello
2
Gold is sideways before the newsAt the end of the week, the world gold price traded around 2,497 USD/ounce, with strong fluctuations during the week but not out of control of investors. In particular, the US employment report put great pressure on the market. The gold price is trading below the EMA 89 moving average but above the EMA 34, indicating an unclear trend and needs further observation. The EMA 34 can temporarily support the price, while the EMA 89 is a strong resistance level. On the daily chart, gold has formed a "sideways" pattern over the past month, reflecting the market's hesitation before economic data and the Fed's monetary policy. The current major support level is 2,480 USD/ounce and the resistance level is 2,520 USD/ounce.
OANDA:XAUUSD
by Naoomi
2