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UsdChf- Bullish short term, bearish medium term. What to do?UsdChf is in a bearish trend for quite some time and recently broke under very important 0.88 zone support. After reaching a low at 0.8550. Here the pair found support and formed a small double bottom which could lead to further gains. In conclusion, in the short term, a rise to test the broken support, now resistance is not out of the question and short-term traders can try to speculate this potential rise. However, if you want to stay on the safe side, a sell in 0.88 zone is a better choice.
by Mihai_Iacob
9
Gold- 1961-1963 zone remains the key for bullsIn my yesterday's video analysis, I said that XauUsd remains strongly bullish and, although a correction could happen, I don't expect a retest of the previous broken resistance and for Gold to remain strongly bullish, the drop should stop in the 1945-1950 zone. Gold, indeed corrected and reversed exactly from my buy zone leaving us with a long-tailed reversal doji candle on the daily chart. At this moment bulls seem in control and the price is inching higher and higher, pressing in the local resistance that lies in the 1961-1963 zone. I expect a break to the upside and my 1975-1980 zone target should be in play after this.
OANDA:XAUUSDLong
by Mihai_Iacob
36
EurUsd is trying for a new local highAs I've written last week, EurUsd will probably break above 1.1 resistance. CPI data brought us the fuel for the break and now the pair is trading at 1.1233, near the local high. The price is consolidating these gains at this moment and a new high could follow this consolidation. In my opinion, we will not have a retest of the 1.11 support, this being too obvious and too many are waiting to buy this support. With this in mind, dips under 1.12 should be bought, and the target for the next leg up could be 1.1350
Long
by Mihai_Iacob
34
AudUsd in strong supportAfter the double bottom in the important support area at 0.66, AudUsd has risen strongly and reached 0.69 resistance given by the previous high. At this moment the pair is rolling back down in a normal correction and this could offer bulls nice buying opportunities in anticipation of an up continuation. At the time of writing AudUsd is trading exactly in the old resistance of the range which should provide support now and I'm looking for reversal signs.
Long
by Mihai_Iacob
3
Bitcoin- Bulls or bears, who will win?The beginning of the year also marked the start of a Bitcoin bull run with the main cryptocurrency almost doubling its value by mid-April. The high of the year was followed by a two months correction (contained in a falling wedge) and a new leg up to this high zone followed. In the last month or so, Bitcoin's price action is boring for swing traders, with the price ranging between 30k and 31.5. On the bright side, the structure from the low is still very bullish with the price contained in an ascending channel and the clear continuation rectangle pattern in place, but for the price to gain traction a break above 31.5 is needed. In this case, a rise to 35k becomes very probable. On the other hand, a drop under 30k, although not altering the bullish overall structure could lead to more losses and in this case, 28k confluence support is exposed. As a swing trader, my approach is wait and see
BITSTAMP:BTCUSD
by Mihai_Iacob
25
MANA- Bullish& Bearish scenario explainedAfter the high back in February, Mana has re-entered its downtrend. However, this recent drop stopped again in the 0.3 zone and the coin shily started to rise again. The touch of 0.44 zone resistance led to a drop and at this moment we have two possible scenarios, both for bulls and for bears. Bullish scenario: As I said, the drop from 0.85 stopped again at the 0.3 zone and this could mark a bottom. Also, in support of this bullish scenario, we have the ascending triangle pattern in which the coin is trading since June. For this scenario to come into play, we need a break above 0.44 resistance. In such an instance, the coin could rise to 0.6 zone, and considering a stop loss slightly under 0.4 we found also achieve a 1:3 R:R Bearish scenario: Even though we have a reversal from the 0.3 low twice, the trend is still bearish for the coin, and the two days ago reversal from horizontal resistance reinforces the bearish idea. For confirmation of down continuation, bears need to push the price under 0.4 and in this case, ManaUsdt could make a new low under 0.3 to around 0.25
BINANCE:MANAUSD
by Mihai_Iacob
4
0.3 intact is a must for bullsAfter the break above the falling wedge at the beginning of the year and the spike above 0.4 resistance in April, AdaUsd fell under 0.3 support and May and made a new local low. However, XRP news brought optimism also for Cardano and the coin rose strongly and unconquered 0.3, resistance at that moment. After the spike in the middle of the range, the coin has started to correct and is trading, at the time of writing, at 0.32. 0.3 is a very important figure now and is acting as support at this moment. Considering that, after the recent low, AdaUsdt formed an ascending triangle pattern on our chart and the recent break above the resistance of the triangle, things are technically bullish. A test of 0.3 could offer a nice entry for bulls with a 1:2 risk: reward if we consider a test of the upper boundary of the range and a stop loss at 0.25. However, a daily close under 0.3 would make the recent up break a false one and could lead to a drop, even to a new low.
Long
by Mihai_Iacob
GOLD XAUUSD NEXT WEEKDear Ziilllaatraders, Reflecting on the past week, it brings me great joy to acknowledge the substantial profits we achieved. However, it's important to consider the possibility of a decline in the value of gold in the near future. Currently, there is an interesting struggle taking place between those who want to buy gold and those who want to sell it, leading to a noticeable correlation. Based on this observation, I have a hunch that several potential scenarios may unfold. However, it's crucial to remember that only time will reveal the true outcome. Therefore, I encourage you to stay updated and follow closely as I will be sharing more ideas in the future. It seems that we are on the verge of witnessing a significant movement, which could mark the beginning of an entirely new trend. I am genuinely interested in hearing your thoughts on this matter. Feel free to share any questions or remarks. Greetings, Ziilllaatraders
OANDA:XAUUSDShort
by ZILATRADES
1
Gold- Inflation data could provide the trigger for a breakAfter the dive under 1900 and the new attempt of a drop under this important figure last week, Gold was trading higher with dips clearly bought by bulls. In my yesterday's analysis, I've written that a break of important 1940 horizontal resistance could follow such a price development and the overall idea is unchanged. At the time of writing Gold is "playing" with this resistance and inflation data could provide the trigger for the break. Eventual dips under 1930 should be bought and negation comes under 1915 low. As for the target, the next obvious level of resistance is at the 1975 zone
OANDA:XAUUSDLong
by Mihai_Iacob
56
UsdJpy- Bulls could take control againAfter the recent high at 145 zone and a small consolidation to the top, UsdJpy fell hard, losing around 700 pips in just one week. However, the overall medium-term trend remains bullish and, with the price near an important horizontal level of support, traders could look for buying opportunities. In my opinion, this level will hold, and dips under the 138 zone should be bought with a target to the first level of resistance, around 141.
Long
by Mihai_Iacob
24
GbpAud- False break could lead to a dropLast week, GbpAud broke above the 1.9170-1.9200 resistance zone and reached a high of 1.94. However, the pair couldn't hold gains and dropped again under this resistance. Usually, false breaks lead to strong reversals and drop/rise to the next important level and, in this case, the next support at around 1.86. That being said, traders should look to sell around 1.92, and considering a stop loss above the recent high, a 1:3 risk: reward could be achieved.
Short
by Mihai_Iacob
8