DJI Is Bearish! Sell!
Please, check our technical outlook for DJI.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 44,642.75.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 43,791.11 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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GBPJPY Will Fall! Short!
Please, check our technical outlook for GBPJPY.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 192.164.
Taking into consideration the structure & trend analysis, I believe that the market will reach 191.292 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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GOLD BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
GOLD pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 15m 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 2,647.359 area.
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GBP/CHF BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
GBP/CHF is making a bullish rebound on the 12H TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 1.116 level.
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GBP/JPY SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
The BB upper band is nearby so GBP-JPY is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 188.358.
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EUR/AUD SHORT FROM RESISTANCE
Hello, Friends!
EUR/AUD pair is trading in a local uptrend which we know by looking at the previous 1W candle which is green. On the 2H 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 1.640 area.
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NZDCAD Potential DownsidesHey Traders, in today's trading session we are monitoring NZDCAD fora selling opportunity around 0.83200 zone, NZDCAD is trading in a downtrend and currently is in a correction phase in a correction phase in which it is approaching the trend at 0.83200 support and resistance area.
Trade safe, Joe.
EURAUD in the SpotlightTechnically, there is room for the EURAUD to dive downward, especially if it develops a bearish harmonic pattern on the daily chart.
Fundamentally, it may depend on the RBA interest rate decision and statement, which is to be released on Tuesday. And employment data on Thursday. Fingers crossed. :)
EURUSD 8/12/24This week, with Euros to the U.S. dollar, we’ve seen price pull back to the highest area highlighted in last week’s markup. It took out the liquidity high we placed below it while also mitigating some of our longer-term points of liquidity.
We’ve now identified several points of liquidity lower down, one being at the base of the last upward move. This move originated from the area we highlighted as a potential zone for bullish price action. Despite the significant upward movement, our higher time frame bias maintains a bearish narrative, indicating that money is still flowing out of this market, pushing prices lower.
As shown on the chart with the indicator applied, we are now on the 4-hour timeframe. A "money-out" area has been formed, and we are watching for price action to follow this trend, targeting the liquid lows we have marked. This setup points to a sell opportunity at the start of this market session, with the expectation that price will continue to move bearish throughout the week.
Stick to your risk and follow your trading plan.
DXY Will Go Lower From Resistance! Sell!
Here is our detailed technical review for DXY.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 105.962.
Considering the today's price action, probabilities will be high to see a movement to 103.661.
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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NQ1! BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
Previous week’s green candle means that for us the NQ1! pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 21,113.75.
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EUR/NZD BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
EUR/NZD is trending down which is evident from the red colour of the previous weekly candle. However, the price has locally surged into the overbought territory. Which can be told from its proximity to the BB upper band. Which presents a classical trend following opportunity for a short trade from the resistance line above towards the demand level of 1.799.
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NZDUSD Potential DownsidesHey Traders, in tomorrow's trading session we are monitoring NZDUSD for a selling opportunity around 0.58600 zone, NZDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.58600 support and resistance area.
Trade safe, Joe.
GBPNZD Will Go Lower! Short!
Take a look at our analysis for GBPNZD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 2.182.
The above observations make me that the market will inevitably achieve 2.171 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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AUDUSD Is Bearish! Sell!
Take a look at our analysis for AUDUSD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 0.641.
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 0.637 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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BITCOIN BEARS ARE STRONG HERE|SHORT
Hello, Friends!
BITCOIN pair is in the uptrend because previous week’s candle is green, while the price is evidently rising on the 9H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 92,443 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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GBPUSD Breakout And Potential RetraceHey Traders, in today's trading session we are monitoring GBPUSD for a selling opportunity around 1.27600 zone, GBPUSD 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 1.27600 support and resistance area.
Trade safe, Joe.
EURUSD Potential DownsidesHey Traders, in today's trading session we are monitoring EURUSD for a selling opportunity around 1.06800 zone, EURUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.06800 support and resistance area.
Trade safe, Joe.
NAS100USD Will Go Down! Sell!
Please, check our technical outlook for NAS100USD.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 21,415.8.
Taking into consideration the structure & trend analysis, I believe that the market will reach 21,013.5 level soon.
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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GOLD Will Move Lower! Short!
Here is our detailed technical review for GOLD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 2,637.581.
Considering the today's price action, probabilities will be high to see a movement to 2,613.313.
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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EURCAD Is Bearish! Sell!
Take a look at our analysis for EURCAD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 1.485.
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 1.478 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.
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GBPAUD Is Very Bearish! Short!
Please, check our technical outlook for GBPAUD.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 1.988.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 1.970 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!