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USDJPY Approaching Breakout: Will it Reach 147.21 or Pull Back?2H Chart Current Price: 144.252 After analyzing USD/JPY on the 2-hour chart, the price has broken through the major support and resistance level at 143.750. It is now approaching the upper boundary of a falling wedge, marked as the Breakout and Reversal line. We anticipate that this line could act as a barrier and potentially reverse the price if the bullish momentum isn’t strong enough. After reaching the breakout line, the price may pull back to consolidate strength before breaking through, leading it toward our price target of 147.217. On the 2-hour chart, the price is trading above all moving averages, and the RSI is currently at 65.12. On the other hand, if the price breaks through the support at 142.44, we expect it could decline further, potentially reaching 139.57.
Long
by SpicyPips
1
Nasdaq. What do you think, and why?I have provided two scenarios for the Nasdaq. One is an immediate bullish case for a bounce off of a previous broken resistance level. I think this is on the optimistic side, and of course most people would prefer that type of stress free environment. The second is for a breakdown to a lower previous control level. This is more pessimistic, and it's more difficult to predict because people will not be happy to hear their assets might be about to depreciate. Everybody shoots the messenger. Especially when they're right. What do you think, and why? Am I missing any key elements on the chart?
CME_MINI:NQM2021
by emehoke
EUR/USD going to stay bullish?We have good potential here. Lets keep our fingers crossed on this everlasting pending breakout. I also left a link from my last prediction. Feel free to check it out and refresh the bars, leave a like, comment your ideas, and fallow for weekly or daily updates! Happy trading and good luck all OANDA:EURUSD Disclaimer The material and information contained in this analysis is for general information and educational purposes only. You should not rely upon the material or information on any of my analysis as a basis for making any business, legal, or any other decisions.
by BostonJoe
ADABTC: A Pattern With Potential - Short or Long*Not financial advice* ADA has not rallied nearly as hard as some other alts in this recent pull away from BTC, namely ETH, XRP and LINK. With tight compression on the 50d and maintained expansion coming to an end on the 200d, it's likely that a sharp move happens soon. With volume seeming dormant recently (in relation to former highs), and very similar patterns both in the momentum reading and the inverse head and shoulders patterns implying downside, this short term compression may result in a short term dump to the 200d BB. Though relatively low, this volume still implies that a lot of people may be selling ADA to trade other alt coins, especially ones that have been rallying.
by see_are_em
Consolidation pattern on ACN ?I noticed this consolidation pattern on ACN. First, I would like to state that I am extremely bullish as an investor on the company. However, this looks like a promising short term trading pattern. The rough average of these consolidations since 2010 is 15%. A great return. Even the last two corrections (9.5% and 8.5%) were good. For me there' are too much current uncertainty to neither go long or short but a bullish run up could constitute a short opportunity. What is your point of view ?
NYSE:ACN
by WaitingToShortTheNextCrisis