Lingrid | TONUSDT faces Challenges in CLOSING above 6.00 levelThe price perfectly fulfilled my last idea. It hit the target level. OKX:TONUSDT bounced off the psychological level at 6.00 and is heading toward another level below 5.00. A significant bullish divergence has formed on the 1H timeframe, increasing the likelihood of a bounce off the support level and downward trendline. I believe the market may enter an accumulation phase between the 6 and 5 levels. Nevertheless, I expect the price to rebound as the bearish momentum is fading. My target is resistance zone at 5.670
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Uncertainty in Gold: Is a New Leg of Correction on the Horizon?Yesterday, OANDA:XAUUSD exhibited significant volatility, with sharp fluctuations both upward and downward. However, by the close of the session, the price remained relatively unchanged, lacking a clear directional trend. The current price movement suggests a phase of consolidation, indicating that a more definitive direction may emerge soon.
Traders are now observing key levels that could guide future moves. On the upside, the 2663-2665 zone is seen as a resistance level, which could signal a bullish breakout if breached. Conversely, the 2645-2650 range serves as a support zone, indicating a potential bearish move if the price falls below this level.
From a personal perspective, I anticipate that gold might break to the downside, leading to a new corrective phase that could potentially drive the price toward the 2600 level.
That said, this is merely my view, and there is always the possibility of being wrong. Therefore, my invalidation point for this bearish scenario would be a break above the established resistance zone, which would signal the need to reassess the situation.
In conclusion, while the market remains in a state of indecision, these key levels provide traders with important reference points to monitor for potential breakouts or reversals in the near future.
XAU/USD: Is the 2650 Break Sustainable or Driven by Emotion?Yesterday, OANDA:XAUUSD (Gold) broke back above the 2650 level, a point of significant psychological and technical importance. This level is critical due to the confluence of a horizontal support line and the falling trendline of the down-channel pattern.
While this upward break may seem promising, I believe it is not likely to be a sustainable move.
In my view, this breakout appears to be driven more by emotional reactions rather than genuine market demand.
As a result, I believe the current correction for Gold is not yet complete, and we could see another downward move in the near future.
From a technical perspective, the 2650 level acts as a critical "line in the sand." Should the price drop back below this level, the first target would likely be the recent low, with the potential for an extended decline towards the next major support zone around 2590. This area marks an important technical level that could offer stronger support if the downtrend continues.
At the time of writing, I am currently out of the market, and waiting for further clarification.
I am particularly looking for a decisive drop back below 2650, which would reinforce my bearish outlook and provide confirmation for a potential short trade.
EURUSD Further Up Trend potentialEURUSD has been in a bullish trend, and the recent impulse move down, followed by a pullback that took out liquidity below the 1.1100 support level, could signal the end of a correction. This behaviour is typical in bullish markets, where price pulls back to gather liquidity before resuming the upward trend. Given the overall bullish sentiment, there is a strong potential for a continuation of the trend.
With strong bullish momentum, the market may be set to break through last month's high. The target is the resistance zone around 1.12000
BTCUSDT Potential short-term Pullback around the Resistance zoneBTCUSDT has reached the 65,000 resistance zone, a level where a significant drop occurred previously. Although the market broke and closed above the downward channel, it remains in consolidation on the daily timeframe, oscillating between the range's top and bottom. The price is currently near the top of this range, suggesting a potential bounce. A divergence at the resistance zone adds to the likelihood of a downward move. This combination suggests we could see a short-term pullback. The target is the support level at 61,000
ADAUSDT potential Bearish movementADAUSDT has reached the resistance zone at 0.39, where it was rejected with an engulfing candle pattern, signalling potential bearish pressure. The market has been moving sideways for the past two months on the daily timeframe, while the overall trend remains bearish, consistent with other altcoins. With the price at the top of the range, there is a strong possibility of a pullback as consolidation continues. Additionally, the formation of an ABC pattern further supports the likelihood of a retracement. The target is the support level at 0.36
GBPAUD potential drop and continuation of the down trendGBPAUD has been respecting the upward trendline for over a month but now appears poised to break through, potentially triggering a significant sell-off. On the daily timeframe, the price action looks quite bearish. The formation of a consolidation zone just above the trendline suggests the market is preparing for a potential breakout. Consequently, the market could drop from this resistance zone toward lower levels. The target is the support level at 1.93080
Lingrid | GOLD anticipating a Complex PULLBACK. Potential LONGOANDA:XAUUSD price continues to move sideways after reaching an all-time high (ATH). It appears to be forming a complex pullback, as it has not retested the previous higher high. This price action may lead to a triangle formation, indicating a potential squeeze. With high-impact news scheduled for today, I anticipate the market may retest the previous week's low zone, possibly by forming a complex pullback (like an ABC move) before bouncing back, consistent with the current sideways trend. My target is resistance zone around 2665.
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Lingrid | EURUSD at the Bottom of the CONSOLIDATION zone. BuyThe price perfectly fulfilled my previous idea. FX:EURUSD has reached the bottom of the consolidation zone, testing a strong support area around 1.1000, where it has bounced before. On the monthly timeframe, the price is at last month's lows. A fake breakout and liquidity grab below the trendline and support could lead to strong upward momentum towards the major bullish trend. Additionally, with unemployment rate news set to be released today, we should be prepared for increased volatility, so it’s essential to monitor the market closely for confirmation. My target is resistance zone at 1.11030
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Lingrid | ETHUSDT battle Between SUPPORT and Resistance LevelsThe price perfectly fulfilled my previous idea. It hit the target level. On the daily timeframe, BINANCE:ETHUSDT has been in a consolidation phase between support and resistance since August. Recently, a triangle pattern formed at the top of the range zone before the price dropped, likely influenced by the downturn in BINANCE:BTCUSDT . Currently, the price is approaching the psychological level of 2300, which has historically been respected multiple times. Additionally, the market is making lower highs and higher lows, indicating a narrowing price action. If the price approaches the 2300 level and shows signs of rejection, such as increased buying pressure, I expect a bounce off this support level. My target is resistance zone around 2525
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EurUsd- Could drop 150 pipsYesterday, EUR/USD saw a sharp drop from the 1.12 level, reinforcing it as a strong resistance. The pair rebounded after touching the rising trend line, but in my view, it's only a matter of time before this support is broken.
In conclusion, I am looking to sell into rallies, targeting the 1.10 support, with a stop in place should there be a daily close above 1.12.
Key Support Holds for USD/JPY: Will the Pair Break Past 150?On Friday, USD/JPY experienced a significant sell-off, losing around 500 pips in a sharp downward movement.
However, after reaching the key horizontal support level at 141.64, the pair managed to find some relief and began a recovery, suggesting that the recent decline may have been short-lived. Currently, USD/JPY is working to negate this steep sell-off, indicating that the recovery process could be underway.
In my view, USD/JPY is poised to continue its rebound from the 162-140 decline, with the potential to surpass the psychological barrier of 150.
If the pair successfully breaks through this level, it could head toward the important resistance zone near 152, which will be a critical point for further bullish momentum.
For shorter-term traders, there are additional levels to monitor before reaching the 150 mark. Key upside targets include 147.30 and 149.40, both of which present potential profit-taking opportunities as the pair continues its recovery.
Lingrid | GOLD in a phase of CONSOLIDATIONThe price perfectly fulfilled my previous idea. It hit TP. The market has formed lower high, suggesting that it may remain in a consolidation phase for some time. After bouncing off the resistance at 2670, there is a possibility that it might retest the support zone.I expect a bullish move if the price breaks above the downward channel, which is a correction against the major trend. A solid break above that channel will be a confirmation for a continuation of the upward trend. My target is resistance zone at 2663.90
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Lingrid | EURUSD Upward Channel BREAKOUT. ShortFX:EURUSD has tanked following news of escalating tensions in the Middle East, leading to a surge in the TVC:DXY that has pushed down all other currency pairs. The market created a double top at the resistance level and failed to close above it. Currently, it is moving toward the bottom of the range zone. If you zoom out, you'll see that the price action has been oscillating between 1.10200 and 1.12000. I anticipate that the market will experience a pullback before continuing its downward movement. My target is support level 1.10300
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Lingrid | TRXUSDT gaining Momentum in the Market. Potential LongSince the launch of the platform for meme coins, the Tron network has gained significant attention in the crypto space. The price action of BINANCE:TRXUSDT looks promising, by a smooth structure of higher highs and higher closes. Recently, the market made a pullback from the resistance zone and is currently testing the support level at 0.1525, which has been respected twice before. I expect the market to bounce back from this support level and the upward trendline, especially as we are observing some rejection candles forming. My target is resisatance zone at 0.1575
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Lingrid | GOLD Weekly PRICE Action ANALYSISOANDA:XAUUSD market rallied this week following the FED's 50 basis point interest rate cut. While there is a potential for buy-the-dip strategies to attract bulls, the current price levels might be in overbought territory, making it challenging to expect the price at higher levels. This situation could lead to a sideways movement in the market.
If the price does drop toward the 2600-2620 zone, it may entice bulls to enter the market, considering it a more favorable buying opportunity. The close of the September candle will be critical, as it could signal the future price direction. If September closes with a long-tailed bar, this could indicate a potential pullback toward the psychological support level at 2600 or the 50% retracement of the monthly range.
Next week, the market will also be influenced by high-impact economic news, including the Non-Farm Payrolls (NFP) and the Unemployment Rate, which could significantly affect price direction. Keep an eye on these upcoming news.
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Gold’s Correction Phase: Key Levels and What to Watch NextIn yesterday’s post, I discussed the possibility of a new leg in the ongoing correction for gold, pinpointing the 2630 zone as a potential area for this decline to materialize.
As it stands, XAU/USD has indeed dropped to that level and is currently showing signs of recovery.
However, there are two key takeaways from yesterday’s price action that need to be highlighted:
1. The correction fits within the broader bullish trend: Despite the pullback, it is essential to recognize that the movement appears corrective rather than a reversal of the overall bullish structure for gold.
2. Caution regarding the end of the correction: While gold is recovering from the 2625 level, it is premature to declare the correction complete. For confirmation that this phase has ended, the price needs to break above the 2650 zone and, crucially, close the day above that level. This would signal stronger momentum and increase the likelihood of further upward movement.
With this in mind, the strategy for swing traders remains focused on buying the dips. Until we see a decisive break and daily close above 2650, low volume is advised.
If that level is successfully breached, it would serve as confirmation that the recovery is gathering steam and could potentially open the door for gold to target the 2700 level in the near term.
In conclusion, while the current correction may have created an opportunity to enter at lower levels, traders should remain cautious and await a clearer signal before committing high volume long positions. The 2650 zone remains the key level to watch for further bullish confirmation.
Lingrid | GBPUSD in the CONSOLIDATION zone. LongThe price perfectly fulfilled my previous idea. It reached the target. The price action indicates that the FX:GBPUSD is currently in a consolidation zone after reaching the resistance area. Overall, the market is in a bullish trend on the daily timeframe, which suggests that there is still underlying demand pushing prices higher. However, the recent break of the upward trendline indicates a pause in the bullish momentum. This break may suggest that the market could be in the temporary slowdown before deciding its next move. Given that the price is now in a range, it’s likely that the market may stay within this range for some time before continuing the bullish trend. My target is resistance zone at 1.33960
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Lingrid | SOLUSDT consolidation Ahead of POTENTIAL BreakoutThe price perfectly fulfilled my previous idea. It reached the target zone. BINANCE:SOLUSDT has tested the psychological level at 160, where it formed a double top pattern before pulling back. This indicates a potential reversal or consolidation after hitting a significant level. Prior to this price movement, the market broke and closed above the another strong level at 150, which is a bullish sign and suggests that buyers are showing interest. On the daily timeframe, the market is testing a previous resistance zone, where price has previously encountered selling pressure and pulled back on two occasions. Analyzing the weekly timeframe, it is noteworthy that the last two candles were strong and showed momentum, reinforcing the bullish sentiment in the market. I expect the market to consolidate just below the resistance level at 160 before a breakout. My target is resistance zone at 165
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