VRTX Vertex Pharmaceuticals Options Ahead of EarningsAnalyzing the options chain and the chart patterns of VRTX Vertex Pharmaceuticals prior to the earnings report this week,
I would consider purchasing the 472.5usd strike price Puts with
an expiration date of 2024-11-8,
for a premium of approximately $14.00.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
SELL
CGC Canopy Growth Corporation Options Ahead of EarningsAnalyzing the options chain and the chart patterns of CGC Canopy Growth Corporation prior to the earnings report this week,
I would consider purchasing the 8usd strike price Calls with
an expiration date of 2025-6-20,
for a premium of approximately $0.70.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
US30USD Will Fall! Sell!
Take a look at our analysis for US30USD.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 42,066.9.
The above observations make me that the market will inevitably achieve 41,539.1 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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USDJPY Will Go Down From Resistance! Short!
Here is our detailed technical review for USDJPY.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 151.684.
Considering the today's price action, probabilities will be high to see a movement to 147.149.
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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GOLD BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
GOLD pair is in the uptrend because previous week’s candle is green, while the price is obviously rising on the 1D timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 2,579.811 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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GBP/AUD BEARS ARE STRONG HERE|SHORT
Hello, Friends!
GBP/AUD pair is trading in a local uptrend which we know by looking at the previous 1W candle which is green. On the 1D 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 1.940 area.
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GBP/NZD SHORT FROM RESISTANCE
Hello, Friends!
We are going short on the GBP/NZD with the target of 2.158 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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BTCUSDT Based on the chart, here’s a concise bullish trading strategy:
Key Support Zone: Watch the area around 68,500 USD, where the price is likely to retrace and rebound.
Entry Point: Consider entering a buy position if the price touches the support zone around 68,500 USD and shows signs of a bullish reversal.
Take Profit Target: Aim for 70,200 USD or higher, where the price previously reached a peak.
Stop Loss: Place a stop loss below the support level at 68,486 USD to manage risk in case of a breakdown.
This strategy anticipates that the support zone will hold, allowing the price to bounce back for the next upward wave.
USD/JPY Decreases Slightly: Market Awaits Fed's DecisionHello everyone,
Today, the USD/JPY exchange rate is experiencing a slight decline, currently around 151,92.
This weakening is related to expectations of an interest rate adjustment by the Federal Reserve, along with caution ahead of key economic data and geopolitical conditions. I believe that the exchange rate may continue to fluctuate as new economic information is released and as further indications of upcoming monetary policy become available.
Medium-term forecasts suggest that USD/JPY could recover, but this will depend on U.S. economic data and global developments related to the safe-haven demand for the Japanese yen.
Gold Prices Rise, Promising Recovery After the ElectionHello everyone,
The price of gold has risen slightly to $2,735 per ounce in the morning trading session on Monday after a slight adjustment over the weekend due to profit-taking pressure and a strong US dollar.
The main driving force behind the increase in gold prices remains the political instability, particularly the ongoing election between former President Donald Trump and Vice President Kamala Harris, which is prompting investors to turn to gold as a safe-haven asset. Additionally, geopolitical tensions in the Middle East and prolonged inflation forecasts are also contributing factors supporting gold's upward trend.
It is expected that gold price will continue to increase in the near future. The political instability and the need for deep assets in the context of global tensions will be the main driving force of this increase. If the economic indicators from the US are unfavorable, the gold trend may be further strengthened.
SOLUSDT Poised for Potential Upside Amid Market NewsSOLUSDT is showing positive signs based on technical factors and market news. The current support level at $153.54 is acting as a potential rebound point, aligned with a short-term upward trend.
Investor focus is on recent developments in the Solana ecosystem and new partnerships within the decentralized finance (DeFi) sector.
If the bullish momentum holds, the next target could reach the resistance level near $185, presenting a promising opportunity for further recovery.
ETH Awaits Breakout at $2,456 Level ETHUSDT is currently hovering around the $2,456 mark, consolidating within a wedge pattern on the 1D chart.
As for the trend, ETHUSDT appears poised for a breakout, with potential downside movement as signals from the 34 and 89 EMA are aligning in favor of the bears.
Wishing you smooth and successful trading!
Bitcoin Shows Upward Momentum, Targets Key ResistanceBitcoin (BTCUSDT) is displaying an upward trend, currently trading around $69,078 as it nears critical resistance levels. The chart suggests BTC is consolidating within an ascending channel, with immediate resistance expected around the $70,000 mark. A break above this zone could propel BTC towards the $72,755 target, signaling stronger bullish momentum.
Analysts highlight that maintaining support above $68,730 is crucial for sustaining this upward move. Market sentiment remains cautiously optimistic, with traders closely watching for potential breakout signals in the coming sessions.
GBPNZD Potential DownsidesHey Traders, in tomorrow's trading session we are monitoring GBPNZD for a selling opportunity around 2.17 zone, GBPNZD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 2.17 support and resistance area.
Trade safe, Joe.
SPX500USD Will Go Down! Sell!
Please, check our technical outlook for SPX500USD.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 5,736.0.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 5,643.6 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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EUR/NZD BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
Bearish trend on EUR/NZD, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 1.796.
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ETHUSD Is Bearish! Short!
Take a look at our analysis for ETHUSD.
Time Frame: 17h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 2,518.27.
The above observations make me that the market will inevitably achieve 2,238.74 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.
Like and subscribe and comment my ideas if you enjoy them!
GBPUSD Is Very Bearish! Sell!
Please, check our technical outlook for GBPUSD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 1.291.
Taking into consideration the structure & trend analysis, I believe that the market will reach 1.287 level soon.
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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GBPJPY Is Going Down! Short!
Here is our detailed technical review for GBPJPY.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 197.624.
Considering the today's price action, probabilities will be high to see a movement to 191.203.
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!
BTCUSDT Bitcoin is currently trading around $69,754 on a 4-hour chart, showing signs of consolidation within a sideways range between approximately $68,649 and $70,080. After a recent rally, the price seems to be stabilizing as it tests its moving averages.
Key Observations:
Consolidation Zone: Bitcoin is moving within a purple box range, suggesting indecision in the market as traders await the next direction.
Moving Average Support: The 50-period (yellow) and 20-period (gray) moving averages provide dynamic support levels. A break below these could indicate increased bearish momentum.
Potential Breakdown: If Bitcoin fails to sustain its position within this range, there’s a likelihood of a downward move targeting the next major support at $66,100.
The Euro is slightly declining, and a reversal is possible.Hello everyone,
Today, the EUR/USD exchange rate is trading around 1.08336 USD for each 1 EUR, showing a slight decrease compared to the previous session.
This decline is primarily driven by a strong recovery of the USD, supported by positive economic data from the U.S., indicating that the economy is stabilizing. The increase in U.S. government bond yields also contributes to the dollar's attractiveness, putting pressure on the Euro.
Although the exchange rate is currently declining, there is a possibility of a reversal. If U.S. economic data does not remain positive or if the ECB takes strong actions to support the Euro, this could push the EUR/USD rate higher. Additionally, geopolitical factors and uncertainties in policy could create higher demand for the Euro.
EUR/JPY BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
EUR/JPY pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 1D timeframe the pair is going up. 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 158.543 area.
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What will happen to gold prices if Trump wins re-election?Hello everyone,
Today, the global gold price is trading around $2,736 per ounce, down slightly by about 0.22% compared to the previous session.
This decline is due to the stability of the U.S. economy, which makes investors feel less compelled to seek safe-haven assets. Rising government bond yields and a stronger U.S. dollar have also reduced gold's appeal. However, this may only be temporary.
From my research, I believe Trump will win re-election. He holds a fairly aggressive stance on trade and policy. This approach creates tensions, driving investors to seek safe havens like gold—something that previously pushed gold prices higher during his first term.
In summary, while gold prices are currently seeing a slight dip, their future outlook will heavily depend on Trump's policies and the economic shifts during his potential second term. Policy uncertainty could lead to higher demand for gold in the near future.