ETHUSD Is Very Bearish! Short!
Take a look at our analysis for ETHUSD.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 2,618.44.
The above observations make me that the market will inevitably achieve 2,129.07 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.
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EURCHF Is Going Down! Sell!
Please, check our technical outlook for EURCHF.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 0.954.
Taking into consideration the structure & trend analysis, I believe that the market will reach 0.944 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.
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USOIL BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
It makes sense for us to go short on USOIL right now from the resistance line above with the target of 71.10 because of the confluence of the two strong factors which are the general downtrend on the previous 1W candle and the overbought situation on the lower TF determined by it’s proximity to the upper BB band.
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USD/CHF SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
Bearish trend on USD/CHF, 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 0.850.
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AUD/USD BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
AUD-USD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 0.660 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the AUD/USD pair.
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NZD/USD BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
NZD/USD pair is in the uptrend because previous week’s candle is green, while the price is evidently rising on the 1H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 0.596 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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USOIL Will Go Down! Short!
Please, check our technical outlook for USOIL.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 77.44.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 75.87 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.
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SILVER BEARS ARE STRONG HERE|SHORT
Hello, Friends!
SILVER pair is trading in a local uptrend which we know by looking at the previous 1W candle which is green. On the 1H 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 27.619 area.
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GBP/USD SHORT FROM RESISTANCE
Hello, Friends!
We are targeting the 1.264 level area with our short trade on GBP/USD which is based on the fact that the pair is overbought on the BB band scale and is also approaching a resistance line above thus going us a good entry option.
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AUD/JPY BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
AUD/JPY is making a bullish rebound on the 6H 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 95.165 level.
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AUD/CHF SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
It makes sense for us to go short on AUD/CHF right now from the resistance line above with the target of 0.571 because of the confluence of the two strong factors which are the general downtrend on the previous 1W candle and the overbought situation on the lower TF determined by it’s proximity to the upper BB band.
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Bearish Intraday Momentum in DXYDXY is showing bearish momentum in the intraday charts, with the price encountering resistance and struggling to maintain recent highs. The indicators reflect a downward trend, signaling potential weakness ahead. This setup could lead to further declines if the current momentum persists. Let’s keep a close eye on the developments!
AUDUSD: Bearish Stocks and Trend BreakoutHey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.66000 zone, AUDUSD 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 0.66000 support and resistance zone.
We would like to consider the current bearish bias on stocks, due to the positive correlation AUDUSD should trade under pressure.
Trade safe, Joe.
GBPJPY: Dovsih BoE And Potential DownsidesHey Traders, in today's trading session we are monitoring GBPJPY for a selling opportunity around 191 zone, GBPJPY is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 191 support and resistance area.
Trade safe, Joe.
EURCHF Breakout And Potential RetraceHey Traders, in today's trading session we are monitoring EURCHF for a selling opportunity around EURCHF for a selling opportunity around 0.95600 zone, EURCHF 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 0.95600 support and resistance area.
Trade safe, Joe.
EURGBP Is Approaching The Daily TrendHey Traders, in today's trading session we are monitoring EURGBP for a selling opportunity around 0.86200 zone, EURGBP is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.86200 support and resistance area.
Trade safe, Joe.
GOLD Is Going Down! Sell!
Here is our detailed technical review for GOLD.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 2,470.481.
Considering the today's price action, probabilities will be high to see a movement to 2,433.708.
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!
GBPNZD Will Go Lower From Resistance! Short!
Please, check our technical outlook for GBPNZD.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 2.135.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 2.108 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 BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
Bearish trend on GOLD, 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 2,414.972.
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GBP/NZD BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
GBP/NZD pair is in the downtrend because previous week’s candle is red, while the price is obviously rising on the 6H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 2.101 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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