Lingrid | GOLD Weekly ANALYSIS: Hitting Another ALL-TIME HighOANDA:XAUUSD market started the week by pulling back, but then showed signs of strength after the rate cut. I think the 2550 level is a key support level; as long as the price remains above it and I believe gold possibly can move significantly higher next weeks, and 2700 is a realistic target if we have some healthy correction in the market. The recent rate cut by the FED and global trend toward lower interest rates favor gold pushing the gold to higher level .
On the daily timeframe, the market has closed above the 2600 psychological level, reaching an all-time high. Currently, the price action has established a weekly range, indicating that the market may consolidate within this range next week. The last weekly candle though suggests that the market could reach the next psychological level at 2700 if it manages to close above the previous week's high (PWH).
Additionally, on the 4H timeframe, the market has formed an equal lows, indicating a possibility that it may temporarily drop below this level to take liquidity, which would mean moving below the 2600 support level. Overall, I expect short-term pullbacks as potential buying opportunities at levels that provide strong support. While the trend is clearly bullish, it’s important to remain patient and wait for pullbacks to identify favorable entry points.
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Lingrid | NZDUSD updating SWING highs. Bullish MOMENTUMFX:NZDUSD is making higher lows, indicating bullish pressure, though the higher highs are relatively at the same level, suggesting a potential breakout of resistance. The recent formation of a bullish continuation a triangle pattern, typically signals that the market is consolidating before a potential breakout. As the market approaches the psychological level of 0.63000, which acts as a resistance zone on the daily timeframe, there is a possibility that it might break through this level. The price action on the daily timeframe appears very bullish, therfore I expect the market to a pullback before attempting to break through this resistance and continue higher. My target is resisatnce around 0.62990
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BNBUSDT Downtrend channel BreakoutBNBUSDT has broken and closed above the downward channel, signalling a bullish trend. This movement suggests the market may be factoring in the potential release of CZ, which could further fuel a rise in price. The break above the $600 psychological level supports this bullish sentiment. However, a pullback toward the channel's upper border and the upward trendline is possible. Monitoring price action during this pullback will be key to confirming further upside potential. The target is the resistance zone around 660.0
Lingrid | BNBUSDT Long Signal: Downward CHANNEL breakoutThe price perfectly fulfilled my last idea. It hit the target. BINANCE:BNBUSDT has broken and closed above the downward channel, which is a bullish sign. This move suggests that the market is likely pricing in the potential release of the CZ from jail, and this event could further propel prices to higher levels. Additionally, the price has broken and closed above the $600 psychological level, reinforcing the bullish sentiment. However, I anticipate a pullback toward the channel's upper border, as well as the upward trendline. Once this pullback occurs, I expect the market to continue its upward trend from that point. Keeping an eye on price action during the pullback will be important to confirm the potential for continuation. Mya target is resistance zone around 660.0
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Lingrid | EURUSD opportunity Amidst CONSOLIDATION ZoneFX:EURUSD is currently moving down toward the support level, influenced by a day filled with high-impact news on the EUR. If we take a closer look, we can see that the price action is in a consolidation zone near the resistance. It seems likely that the market will retest the previous weekly low and potentially move below the equal lows. However, since the overall trend remains bullish on the daily timeframe, I believe that if we see a rejection signal at the support level and the downward trendline, we can anticipate a potential move higher. My target is resistance zone at 1.11360
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EurUsd- Fall to 1.1 once more?Last week was favorable for Euro bulls, with the price climbing back to 1.12.
However, after three failed attempts to break above this level, the price has dropped sharply today and is now resting on the 1.11 support zone.
I anticipate a break below this level, with the next target being 1.10.
My strategy is to sell into rallies, with a stop above 1.12 to negate the setup.
Lingrid | BITCOIN Short-Term Pullback near RESISTANCE LevelThe price perfectly fulfilled my last idea. It hit the target zone. BINANCE:BTCUSDT has reached the resistance zone around 65,000, where we previously saw a significant drop. Although the market broke and closed above the downward channel, on the daily timeframe it remains in a consolidation phase, oscillating between the top and bottom of the range. Recently, the price has approached the top of this range, suggesting a potential bounce off this level. Additionally, a divergence at the resistance zone further increases the likelihood of a price move to the downside. This combination of factors indicates that we may see a short term pullback from the current levels. My target is support level at 61,000.
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Lingrid | AUDCHF channel Breaking. Potential LongThe price perfectly fulfilled my last idea. It hit the target. FX:AUDCHF has broken and closed above the downward channel. On the weekly timeframe, a long-tailed bar has formed, indicating a strong bounce off the support level. The market has consistently respected the 0.5600 psychological level, having bounced off it multiple times. Given the bullish momentum gained this week, I expect the market to continue moving higher. This could signify a potential reversal or continuation of the upward trend, especially if the market maintains its strength above the support level. My target is resistance zone at 0.58400
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Lingrid | GOLD surges ABOVE 2600 level. OPPORTUNITY to go LongThe price perfectly fulfilled my last idea. It hit the target level. OANDA:XAUUSD made an upward extension by breaking and closing above the psychological level of 2600. Given that today is Friday, a day when the market typically experiences retracement or becomes range-bound, I anticipate some consolidation above this level. I expect a pullback, as the market has started to form smaller candles, indicating a pause or loss of momentum. I expect the market moving below the psychological level to take liquidity before continuing its upward trajectory. My target is resistance zone around 2621
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Lingrid | TONUSDT Price ACTION Before the anticipated ALTSEASONThe price perfectly fulfilled my last idea. OKX:TONUSDT has bounced off the support level and is now trading just below the key round number of 6.00. Currently, the market is in an accumulation phase, and a breakthrough of this critical level could trigger a bullish run. This hints that the market may be gearing up for the upcoming altseason. Presently, the price action is forming a compression channel in the shape of an ascending triangle. The upward trendline below has supported the price for about a week, and if the price retests both the support and the trendline, I anticipate a bounce and a continuation of the upward momentum. My target is resistance zone at 6.180
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Lingrid | GOLD bullish MOMENTUM in the MARKETThe price perfectly fulfilled my last idea. It hit the target. Currently, OANDA:XAUUSD is testing last week's high, and there's a possibility of a short-term pullback. On the 4H timeframe, the market has closed bullish, indicating strong bullish momentum. Since the market bounced off the 2550 support zone that I highlighted in my last post, I believe it may continue moving higher, potentially surpassing the 2600 level, as there appears to be minimal resistance aside from the round numbers. Following the recent FED rate cut decision, it seems likely that the price could eventually reach the 3000 level. I view any short-term pullback as an opportunity to go long in this market. My target is resistance at 2605
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Lingrid | ETHUSDT potential Channel BREAKOUT. LongBINANCE:ETHUSDT has been in a consolidation phase since the beginning of this month, by forming higher lows, which suggests buying pressure. On the weekly timeframe, the formation of a double bottom is a strong indication of a potential reversal. While I believe the market may consolidate a bit more before start of the bullish trend, it’s also likely to establish a range zone below the channel border before breaking out. If the market breaks and closes above the previous week high we can expect further upward momentum. My target is resistance zone around 2597.00
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Lingrid | EURUSD watch for a Potential Channel Breakout FX:EURUSD initially dropped below the previous support level but quickly bounced back, closing above the psychological level of 1.11000. This swift recovery suggests strong buying interest at that level. From a broader perspective, the downward channel appears to be a flag pattern, which often indicates a potential breakout. I believe the market is poised for a breakout from this channel, with a likely retest of the resistance levels ahead. On the weekly timeframe, the formation of a long-tailed bar indicates potential trend continuation, reinforcing the bullish outlook. Given that the major trend remains bullish, I anticipate further movement to the upside as the market continues to build momentum. My target is resistance zone around 1.11940
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Lingrid | GOLD Weekly Market Outlook: Price Hit All-Time HighThis week OANDA:XAUUSD surged to an all-time high, fueled by increasing expectations of a potential interest rate cut from the Federal Reserve. The price rose over 3%, marking its strongest weekly gain since August. This optimism is driven by concerns about inflation and global uncertainty, which have led to expectations of a rate cut aimed at stimulating the economy. The market has now entered a new range between 2550 and 2600, where it may oscillate in anticipation of the Federal Reserve's rate cut decision next week.
Given that we have high-impact news scheduled for next week, especially for Wednesday, I expect the market to consolidate by forming a trend continuation pattern. However, Monday may start with a pullback toward the support level, considering that price action has made a 1-2-3 movement, after which a correction typically occurs. Overall, I will maintain a bullish outlook with the expectation of a short-term pullback. A rate cut by the Federal Reserve would likely boost gold prices further, potentially driving them toward 2600 and even higher. The underlying fundamentals, including inflation concerns and economic uncertainty, support this bullish sentiment, and any signs of a rate cut could reinforce the upward momentum in the market.
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Lingrid | GBPAUD Trend Continuation OpportunityThe price perfectly fulfilled my previous idea. It reached the target level. FX:GBPAUD is making lower lows and lower closes on the 1H timeframe, forming a potential ABC formation. Over the past two weeks, the market has been within a weekly range, suggesting that the price is in a consolidation phase. Furthermore, it has broken and closed below the 1.95000 level and the upward trendline. I anticipate that the market will pull back toward the resistance zone before moving downward toward the support level. My target is support level at 1.93820
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