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EURUSD Hits Resistance, Risk of Decline to 1.10000 USDEURUSD is trading around 1.10756 USD after hitting resistance at 1.10934 USD and showing signs of a correction. If the price fails to break through the descending resistance, the pair may drop to the support level of 1.10000 USD. The EMA 34 and EMA 89 support the short-term uptrend, but downward pressure is increasing. If the 1.10000 USD support holds, EURUSD could recover. News from the ECB and U.S. economic data will play a crucial role in EURUSD's next moves.
Long
by Zola_Hello
EUR/USD: Recovery or Further Decline?The current EUR/USD chart shows a positive trend with important test points, but even though it is moving in a fairly stable pattern, the market's hesitation can provide opportunities for investors to pay attention. On the daily chart, EUR/USD has demonstrated its ability to maintain levels above two moving averages (EMA 34 and EMA 89), a positive sign that shows the strength of the current trend. However, there are also signs of hesitation with recent candles being small and having long shadows, indicating uncertainty in the market. Investors and traders should closely watch the support level at 1.10750, where a resumption of the uptrend could be confirmed if the price breaks through this level convincingly. The key resistance on the upside is at 1.1100, a level that could test the resolve of buyers in the coming period.
by Naoomi
Gold Knocks on New Highs: What Does It Mean for Investors?In the recent trading session, gold prices recorded a strong growth, breaking through several important resistance levels, and are now approaching the new red resistance zone on the chart. With this increase, gold prices have the potential to challenge higher levels in the near future, supported by several technical and macro factors. The 34 EMA and 89 EMA are both showing bullish trends as they maintain an upward slope. The position of gold prices above both these EMAs is a sign of a sustainable uptrend that could continue. The current red area on the chart marks a major resistance level that gold prices need to overcome to continue the uptrend. A successful breakthrough of this level could lead to a new bullish phase, while a failure could trigger a price correction.
OANDA:XAUUSD
by Naoomi
1
DXY Will Go Lower! Short! Please, check our technical outlook for DXY. Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 101.006. Taking into consideration the structure & trend analysis, I believe that the market will reach 99.601 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!
TVC:DXYShort
by SignalProvider
1
NZDCAD Will Move Lower! Sell! Take a look at our analysis for NZDCAD. Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 0.838. 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 0.833 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!
Short
by SignalProvider
1
NZDCHF Is Bearish! Short! Please, check our technical outlook for NZDCHF. Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is on a crucial zone of supply 0.523. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 0.513 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!
Short
by SignalProvider
1
USD/JPY Falls Below 141.00 Due to Fed-BoJ Policy DivergenceUSDJPY is in a downtrend, trading around 140.908 after breaking the support level at 139.530. The EMA 34 and 89 lines indicate that selling pressure remains dominant. If the price rebounds from this support, the short-term target will be 142.062. Otherwise, if the support breaks, the price may drop to 138.145. Regarding news: USD/JPY continued to weaken below 141.00 in Friday's Asian session, driven by the policy divergence between the Fed and BoJ, which supported the Yen. Attention now shifts to U.S. sentiment data.
Short
by Zola_Hello
Gold Near 2,570 USD Peak, Potential for Strong Future GrowthGold is currently trading near an all-time high of 2,570 USD after a strong rally, driven by increased expectations of significant rate cuts from the Fed. The EMA 34 and 89 lines indicate that the uptrend is still intact, but a short-term correction is possible. Key support lies between 2,501 USD and 2,521 USD, where investors may look for buying opportunities. According to my technical analysis, gold prices could continue to rise towards the next target of 2,618 USD.
OANDA:XAUUSDLong
by Zola_Hello
Bullish Opportunity Upon Breaking Fibonacci ResistanceThe current EUR/USD chart shows important reaction levels using Fibonacci levels, which paints a notable technical picture for traders interested in the pair. The 0.618 Fibonacci level ($1.10758) is the key resistance level that the price needs to overcome to confirm the uptrend. This level has seen some market reactions, and if overcome, the price could potentially move towards $1.11540 and $1.11929. The 0.5 Fibonacci level ($1.10620) is now an important support level. Stability above this level could be seen as a basis for further upside. This level could also be seen as an entry point for traders who are optimistic about the pair's upside potential. Looking to the downside, the support at $1.10034 is the latest low and the level to watch if the downtrend resumes. A break below this level could indicate that the bears are in control and pose a serious challenge for the bulls to hold the price higher. Recommended Strategy: Traders should consider buying if the price firmly breaks above $1.10758 with short-term targets at $1.11540 and $1.11929, while placing a stop-loss below the $1.10034 support to limit risk if the market does not move as expected.
by Naoomi
TON Toncoin Potential Sell-OffIf you haven`t bought TON before the breakout: Now you need to know that on August 24, 2024, the arrest of Telegram founder Pavel Durov by French authorities sent shockwaves through both the platform and its cryptocurrency, Toncoin (TON). Durov's arrest, reportedly tied to illegal activities on Telegram, has been widely seen as an attack on free speech, which has paradoxically boosted interest in both Telegram and Toncoin. This spotlight on Durov and his platforms presents both challenges and opportunities. While the surge in activity signals increased attention, the future is uncertain. The ongoing investigation and heightened regulatory scrutiny are likely to impact TON's market performance. Investors and users are closely watching for further legal actions, as they could have significant consequences for Telegram and Toncoin. With the regulatory landscape in flux, TON remains a risky investment until the legal situation stabilizes. My price target for TON is $2.15.
Short
by TopgOptions
XAUUSD Awaits Break of $2,530 Resistance Under CPI PressureXAUUSD is in a mild uptrend, trading around $2,517 with a key resistance level at $2,530. If the price breaks above this level, the uptrend could continue. However, failure to breach it may lead to a correction toward the $2,501 support level. The EMA 34 and EMA 89 are still supporting the current uptrend, but if the price falls below them, a downtrend might resume. U.S. economic news, especially the CPI report, will heavily impact gold prices, as a higher-than-expected inflation rate could strengthen the USD, putting downward pressure on XAUUSD.
OANDA:XAUUSDShort
by Zola_Hello