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EURNZD Will Go Lower! Sell! Please, check our technical outlook for EURNZD. Time Frame: 30m Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 1.845. Taking into consideration the structure & trend analysis, I believe that the market will reach 1.841 level soon. 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
NZDCAD Will Go Down! Short! Here is our detailed technical review for NZDCAD. Time Frame: 1h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 0.805. Considering the today's price action, probabilities will be high to see a movement to 0.803. 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
USOIL Will Go Lower! Sell! Please, check our technical outlook for USOIL. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is on a crucial zone of supply 73.038. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 70.781 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. Like and subscribe and comment my ideas if you enjoy them!
FX:USOILShort
by SignalProvider
1
Gold's Comeback: Buy the Dip or Stay Cautious?Hello everyone! How do you think we should trade gold today? Yesterday, gold experienced a sharp decline, but it quickly regained its bullish momentum, recovering to $2,915 at the time of writing—marking a 100+ pip rebound within the day. In the short-term analysis, we can see that gold has broken out of the falling wedge pattern and established a new support zone, as highlighted on the charts. The price moving above the EMA 34 and 89 is a positive sign, indicating bullish momentum. Based on my technical analysis and personal assessment, in the short term, I continue to favor a buy strategy, targeting a take-profit (TP) level at $2,940, with a stop-loss (SL) at $2,892. What about you? What’s your outlook on gold today? Drop a comment and let’s discuss!
OANDA:XAUUSDLong
by Lana_Scalping
3