GOLD Will Go Down! Short!
Please, check our technical outlook for GOLD.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 2,609.486.
Taking into consideration the structure & trend analysis, I believe that the market will reach 2,575.180 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.
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Short
BITCOIN BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
Previous week’s green candle means that for us the BITCOIN 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 80,322.
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USD/CAD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
USD/CAD 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 1.396 area.
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Here's Exactly Why Bitcoin Is Having A Hard Time With 90kTraders, from a technical perspective, I really don't expect Bitcoin to beat 90k immediately. Eventually, yes. But right now there are two big technical reasons why Bitcoin is having a hard time managing to beat 90k. They are the same technical reason for why I called the year end price target of 88k-92k.
First, see that horizontal ascending pink trendline? I took the top of our high on 12 April 2021. I then drew it to the top on 08 Nov. 2021. This is on our weekly chart. I then extended that trendline to the right. Boom 90k.
Second, see that inverse h&s pattern I have been discussing for the last year and a half? I measure from the top of the head to the neckline. Now, I move that measurement to our break of the neckline. Boom 90k.
Now, I am not saying that we won't break 90k. This post is simply to make you aware of how I was able to call our target of 90k and why Bitcoin will have difficulty breaking through that price level.
✌️Stew
NAS100 Will Go Lower! Sell!
Take a look at our analysis for NAS100.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 21,056.31.
The above observations make me that the market will inevitably achieve 20,692.20 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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GBPUSD Will Move Higher! Buy!
Here is our detailed technical review for GBPUSD.
Time Frame: 45m
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 1.274.
Considering the today's price action, probabilities will be high to see a movement to 1.278.
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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EURGBP Is Bearish! Sell!
Take a look at our analysis for EURGBP.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 0.833.
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 0.828 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.
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USD/JPY BEARS ARE STRONG HERE|SHORT
Hello, Friends!
The BB upper band is nearby so USD-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 152.850.
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High precision version - BTC log trend DEC/JAN PEAKThis is an updated version of my first logarithmic price trend.
This trend is in line with Bitcoin since it first started to trade.
With highly precise curves that better match the cycles, I now expect to see a
peak in BTC price of $90,400 set to hit somewhere between 14th of November and New Year.
I think the trend will be followed even on the downturn,
forming the 'Mother-of-all Head and shoulders patterns'.
CHFJPY: Expecting Bearish Continuation! Here is Why:
It is essential that we apply multitimeframe technical analysis and there is no better example of why that is the case than the current CHFJPY chart which, if analyzed properly, clearly points in the downward direction.
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AUDUSD Is Approaching An Important ResistanceHey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.65700 zone, AUDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.65700 support and resistance area.
Trade safe, Joe.
APPLE Trading Opportunity! SELL!
My dear friends,
APPLE looks like it will make a good move, and here are the details:
The market is trading on 227.20 pivot level.
Bias - Bearish
Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market.
Goal - 224.44
About Used Indicators:
Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis
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WISH YOU ALL LUCK
DXY Is Very Bearish! Short!
Please, check our technical outlook for DXY.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 105.886.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 104.561 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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GOLD Will Go Lower! Sell!
Take a look at our analysis for GOLD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 2,664.030.
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 2,633.716 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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CAD/JPY SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
CAD/JPY pair is in the uptrend because previous week’s candle is green, while the price is clearly rising on the 17H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 108.755 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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