USD-CAD Locally Overbought! Sell!
Hello,Traders!
USD-CAD is trading in a
Strong uptrend but the
Pair is locally overbought so
After the retest of the
Horizontal resistance level
Of 1.4466 from where
We will be expecting a
Local bearish correction
Sell!
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Signals
Major Price Movement Incoming for SNAP!Signalist has detected a precise pattern in NYSE:SNAP trading activity, signaling that a substantial price movement is imminent. This isn’t a random fluctuation—it’s a carefully analyzed precursor to a significant market event.
📅 What to Expect:
⌛ Timeline: Anticipate a major move within the next 1 to 4 upcoming 3-hour candles.
📈 Monitor the Charts: Keep an eye on SNAPs price action over the next few candles.
Prepare Your Strategy: Whether you’re bullish or bearish, have your trading plan ready to capitalize on the move.
EURUSD - possible sells with the Data release?Here is our analysis on EURUSD . Possible shorts in play.
As we are anticipating the news release today, we can still assume the TVC:DXY will remain bullish. If the News and Data release is positive for the US Dollar , we could see more downside on the pair. With the new H4 just opening and the previous closing strongly bearish, we can assume that EURUSD will continue going down. Our Entry is sitting at 1.03272 with SL (Stop Loss) at 1.03587 . If we break above our SL we would most likely reverse and this trade idea would be invalidated. Our TP (Take Profit) is sitting at 1.02642 and if broken + the positive news and data release, we could see the price digging even deeper .
PARAMETERS
- Entry: 1.03272
- SL: 1.03587
- TP: 1.02642
KEY NOTES
- EURUSD is bearish.
- DXY (USD) still remains bullish and holds strength against other pairs.
- Positive news for the US could result in even lower prices on EURUSD.
Happy trading!
FxPocket
ORACLE Slowly turning into a long-term Buy again.Oracle (ORCL) gave us an excellent buy signal on our last call (September 18 2024, see chart below):
For the past 30 days it has been on a technical decline, which based on its +2 year pattern, is nothing but the Bearish Leg of the Channel Up. The 1W MA50 (blue trend-line) is the natural Support of this trend but the September - October 2023 Bearish Leg bottomed a little over the 0.382 Fibonacci retracement level.
As a result we expect the stock to turn into a buy by the end of the month or if the 1W RSI hits its 42.70 Support first and initiate the new Bullish Leg, which at first shouldn't be that aggressive.
Our Target is a little below the -0.236 Fib extension at $220.00.
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GBPUSD Ultimate buy signal at the bottom of the 2year Channel UpThe GBPUSD pair brutally reversed this week's early gains and the 1W candle will most likely close in red after making a new Low. The trend has been bearish since the September 23 2024 High and has been accelerated after the 1W MA50 (blue trend-line) and 1W MA200 (orange trend-line) rejection in early December.
This is however the ultimate long-term buy opportunity as the price is almost at the bottom of the 2-year Channel Up. On top of that, the 1W RSI is almost on the oversold barrier (30.00), a level intact since October 2022.
As long as the price is closing within the Channel Up, we see a rebound towards the 0.618 Fibonacci retracement level very likely, as it happened in November 2023. Our Target is 1.2950.
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NIFTY Best buy opportunity before +20% rise.The Nifty 50 Index (NIFTY) has been trading within a Channel Up every since the June 2022 market bottom of the Inflation Crisis. Last week it broke below its 1W MA50 (blue trend-line) for the first time since March 27 2023 and this week touched the bottom of the Channel Up.
As long as it closes the 1W candle inside the Channel Up, the trend will technically remain bullish. The standard rally of the previous Bullish Legs has been +20%. As a result, we can remain bullish for now and target 27500 (just below the +20% mark).
If it closes a week below the Channel Up, we may very well see further technical correction until it either hits the 1W MA100 (green trend-line) or the 1W RSI gets bearish below 40.00 towards the bottom of its 3-year Rectangle.
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Analyzing Symmetrical Triangle Breakouts: A Bearish Setup for USUS30, representing the Dow Jones Industrial Average index, is currently trading at 42,500 with a target price of 41,500, indicating a bearish outlook. The price action is forming a symmetrical triangle pattern, a technical setup that reflects market indecision as it consolidates within converging trendlines. This pattern typically precedes a breakout, which could occur in either direction, though in this case, traders are anticipating a bearish breakout. A decisive move below the triangle's lower trendline would confirm the breakout, signaling a continuation of the downward trend. Once the breakout is validated, the price is expected to head toward the target of 41,500, offering a potential opportunity for short positions. Confirmation of the breakout is essential to avoid false signals, and traders should watch for strong momentum and volume supporting the move. This setup highlights the importance of monitoring key technical levels to capitalize on market movements.
NAS100USD Will Move Higher! Buy!
Take a look at our analysis for NAS100USD.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 21,124.3.
The above observations make me that the market will inevitably achieve 21,614.0 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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BITCOIN Is Bullish! Long!
Please, check our technical outlook for BITCOIN.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 94,953.
Taking into consideration the structure & trend analysis, I believe that the market will reach 97,361 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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USDCHF Is Very Bearish! Sell!
Here is our detailed technical review for USDCHF.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 0.913.
Considering the today's price action, probabilities will be high to see a movement to 0.909.
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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CHFJPY Is Going Up! Buy!
Take a look at our analysis for CHFJPY.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 172.885.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 173.784 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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Key Support at 0.6179: Will AUD/USD Break or Bounce?Dear friends!
Currently, AUD/USD is struggling to record any meaningful recovery and remains near multi-year lows. In this context, the Fed's hawkish shift has driven U.S. Treasury yields higher, supporting the USD. Concerns over the U.S.-China trade war and expectations of an early rate cut by the RBA continue to weigh on the Australian dollar. Therefore, we can say that the probability of further price decline in the medium-term outlook is quite high.
As mentioned on the 4-hour chart, the current price is approaching the level of 0.6179. A consolidation pattern is forming ahead of a potential breakout related to this level. I do not rule out the possibility of the price retesting the EMA resistance or a local high before further breakdown. However, the overall technical and fundamental situation suggests a decline. Focus on the trigger level at 0.6179. A breakdown and price consolidation below this level will likely trigger a significant drop.
Trading the Falling Wedge Pattern: A Bullish Setup for EURUSDEURUSD, a major forex pair representing the euro against the US dollar, is currently trading at 1.03000, with a target price of 1.11000. The pair is forming a falling wedge pattern, a bullish reversal signal that typically indicates a potential price breakout to the upside. This pattern develops as the price narrows between converging trendlines, reflecting decreasing selling pressure. Traders are closely monitoring the pair for a breakout confirmation, which would signal the start of a bullish trend. Once the breakout occurs, it is expected to drive the price toward the target level, offering a substantial upward move. Confirmation of the breakout is crucial to validate the pattern, as false breakouts are common in such setups. The falling wedge pattern is a strong technical indicator, attracting traders seeking to capitalize on a trend reversal. With the current price action nearing critical resistance levels, the pair is poised for significant movement, aligning with the forecasted target.
Case Study of XAUUSD : Symmetrical Triangle BreakoutsXAUUSD, representing gold against the US dollar, is currently trading at 2680 and is expected to rise to a target price of 2800. The pair is breaking out of a main symmetrical triangle pattern, a technical indicator signaling a potential continuation of the bullish trend. This pattern forms during a consolidation phase, where price action narrows before a decisive breakout. Following the breakout, it is anticipated that the price will retest the breakout level to confirm its strength and establish a new support zone. Retesting is a common occurrence in technical analysis, reinforcing the breakout's validity and providing traders with confidence in the upward momentum. Once the retest is complete, the price is expected to resume its ascent toward the target. This scenario reflects a strong technical setup, attracting both short-term and long-term traders seeking to capitalize on the projected move. The symmetrical triangle breakout and subsequent retest indicate a well-structured path toward achieving the 2800 target.
ALTSEASON to $3 Trillion with BITCOIN at $200k??This is not the first time we make the comparison of the current Altcoin (Crypto Total Market Cap excluding top 10) Cycle with the 2014 - 2017 one. But it is the first time that we make this comparison, including Bitcoin's (BTCUSD) Cycles.
As you can see, there are striking similarities between the Alt Cycles:
a) Both bottom formations were in the form of a Cup pattern
b) A Pivot trend-line that turned from Resistance to Support
c) The MA50 (blue trend-line) was supporting once broken until the next Bear Cycle
d) A Bull Flag after the MA50 break-out found support on the MA50 and 0.382 Fib and started the Altseason (green Channel Up)
e) That Bull Flag started with a MACD Bearish Cross and ended on a Bullish Cross
It appears that we are now on the stage where Alts have the 1st consolidation of the Parabolic Rally. What's remarkable and the key difference between the two Cycles, is that this time BTC has diverged massively and made a new All Time High (ATH), while alts haven't.
Of course this is directly attributed to the Bitcoin ETF, which attracted enormous amounts of capital that pumped the asset beyond the technical restrictions of this model. This may be an indication however, that part of this capital may be diverted to Alts, once partial BTC profit taking takes place, as it has happened during every Altseason.
In any event, if the Cycle continues to replicate the 2017 rally, it should reach the -1.5 Fibonacci extension, which would translate to at least a $3 Trillion Altcoin Market Cap, while Bitcoin would be close to the $200k level! That may seem unrealistic in terms of market cap, but so did the levels during the 2020/21 and 2017 rallies. It all depends on whether Bitcoin can continues to attract outside capital with this pace, which will in turn grow interest on the rest of the crypto market and also on the rate of adoption (companies, consumer use of crypto).
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Lingrid | GOLD the Calm Before the NFP StormThe price perfectly fulfills my last idea. It reached the target level. OANDA:XAUUSD market is making higher highs, but it appears to be lacking momentum, as these highs are not particularly strong. It seems that the price has reached the resistance zone, potentially setting the stage for a drop after the NFP is released. If the market rejects the resistance zone, we could see a bearish move, possibly closing this week within the range of the previous week. However, given the uncertainty surrounding the market’s reaction to the news, there is a possibility that the price could move in either direction, which calls for a cautious approach. I expect short-term pullback from the resistance. My goal is support zone around 2658
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Lingrid | GBPCAD trend CONTINUATION tradeFX:GBPCAD market is currently ranging near a major resistance level after bouncing off a support level. It has also broken through the psychological level at 1.78000. I believe the market might form an ABCD pullback toward the resistance zone then continue moving lower. Given that the prevailing trend is bearish on the current timeframe, it's possible that prices could fall from the resistance nad make new lows. My goal is to support zone around 1.75760
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
World gold prices increased despite the high USD.Gold prices hit a near four-week high on safe-haven demand amid financial market turmoil. Investors sought safety amid concerns about Britain's finances and President-elect Donald Trump's economic policies.
In Britain, concerns about the budget deficit sent the pound to its lowest in more than a year against the dollar, with 10-year government bond yields rising to 4.92% and the FTSE 250 index falling for a third straight day, raising concerns about the risk of global financial contagion.
Meanwhile, market attention turns to Friday's US nonfarm payrolls report, which is expected to show the number of new jobs in December fell to 160,000, compared with 227,000 in November.
🔥 XAUUSD SELL 2677 2679🔥
💵 TP1: 2665
💵 TP2: 2655
💵 TP3: OPEN
🚫 SL: 2687
Lingrid | TONUSDT Contraction as a Catalyst for EXPANSIONOKX:TONUSDT market continues to test the psychological level at 5.00, having bounced off this level multiple times in the past. Currently, the price is forming a descending triangle pattern, characterized by lower highs and relatively equal lows. I believe that if the price breaks and closes above the downward trendline, we could see a surge in the market. Additionally, the channel boundary and a strong support zone around 5.00 provide further context for potential price movement. I anticipate that the market will create a rejection candle, indicating a level of rejection, which could be followed by an upward move. My mid term goal is resistance zone around 5.950
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NFP focus, GOLD is reaching initial bullish conditionsOn Asian markets on Friday (January 10), OANDA:XAUUSD Spot delivery maintains the intraday recovery trend and gold price is currently at about 2,672 USD/ounce, a range of about more than 1 dollar during the day as of the time of writing.
Market participants turned their attention to the US nonfarm payrolls report.
Today (Friday), the United States will release the closely watched non-farm payrolls report, which is expected to cause a big move in the gold market.
Authoritative surveys show nonfarm payrolls in the United States would have increased by 160,000 last December, following a whopping 227,000 increase in November. US unemployment rate expected to fall maintained at 4.2% in December.
The survey found that average hourly wages in the United States are expected to increase 0.3% month-over-month in December, following a 0.4% increase in November. Annual wage growth is likely maintained at 4%.
Better-than-expected US nonfarm payrolls data is seen as positive for the dollar and vice versa. And of course, this greatly impacts the gold price trend.
From a technical perspective, OANDA:XAUUSD is heading for the 4th consecutive day of increase but the real uptrend has not yet been clearly formed.
However, the daily chart of gold prices has also achieved the initial technical conditions for a possible increase in price with price activity above EMA21, POC Volume Profile and the 0.50% Fibonacci retracement level. Currently, these indicators are becoming the closest support.
An important factor for the uptrend to form is the level of 2,693USD, which is considered a technical confirmation point for a newly formed uptrend. Once it is broken above and gold sustains activity above this level, the next target is around $2,730 in the short term.
The relative strength index RSI has also risen above 50. However, the slope is not large but it is still considered a positive signal for gold prices in the near future.
During the day, gold had initial bullish technical conditions and notable levels are listed below.
Support: 2,664 – 2,645 – 2,634USD
Resistance: 2,693 – 2,700USD
SELL XAUUSD PRICE 2691 - 2689⚡️
↠↠ Stoploss 2695
→Take Profit 1 2684
↨
→Take Profit 2 2679
BUY XAUUSD PRICE 2649 - 2651⚡️
↠↠ Stoploss 2545
→Take Profit 1 2656
↨
→Take Profit 2 2661
Bitcoin (BTC/USD) Technical Analysis: Key Levels and Potential SThe chart highlights critical support and resistance levels along with possible price scenarios for Bitcoin (BTC/USD) on the 4-hour timeframe. The combination of technical patterns and momentum indicators offers a roadmap for potential future movements.
Key Levels:
Resistance at $95,600:
The $95,600 level serves as a key resistance point. A breakout above this level could signal a bullish continuation toward $100,740.93, aligning with the upper boundary of the channel.
Support Zone at $91,400–$90,400:
This area is a strong support zone, highlighted in blue, and represents a potential bounce point if the price continues to decline. Failure to hold this level could push Bitcoin further downward.
Lower Support Levels:
$82,265.90 and $76,125.14 are critical lower support levels if bearish momentum intensifies.
Scenarios:
Bullish Scenario: If Bitcoin rebounds from the $91,400–$90,400 support zone and breaks above $95,600, we could see a rally toward the $100,740.93 target.
Bearish Scenario: A breakdown below the $91,400–$90,400 zone could lead to a decline toward $82,265.90 or even $76,125.14, driven by increased selling pressure.
Indicator Insights:
DT Oscillator: Currently in the oversold zone, suggesting a potential short-term bounce. However, confirmation is needed from price action and resistance levels.
Conclusion: Bitcoin is at a pivotal point with significant support and resistance levels clearly defined. Traders should monitor price reactions closely around the $91,400–$90,400 zone and watch for a breakout or breakdown for directional cues.
Feel free to share your thoughts in the comments, and don’t forget to follow me for more detailed analyses!
⚠ Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own research before making trading decisions.
Lingrid | GOLD climbing to NEW Levels. LONG TradeThe price perfectly fulfilled my last idea. It hit the target zone. OANDA:XAUUSD formed equal highs and is currently hovering around the 2650 level, which is a crucial point where it will decide whether to move higher or lower. However, considering that the market has been making higher lows, I think the price may retest the area above the equal highs. Looking left we can see that the price made similar behavior when it consolidated around the 2650 level before surging upward. I expect the price might form an ascending triangle pattern, with expectations for a breakout and at least reach the channel's upper border. My goal is resistance zone around 2677
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
GOLD → False Breakout. Can Buyers Recover?Hello, dear friends! Ben here!
Gold has made a false breakout at $2,637 and is now searching for strong support. The current situation is highly complex, both fundamentally and technically.
Fundamentally, the situation remains challenging. Gold's weakness is influenced by the Fed's hawkish stance and the strength of the US Dollar. However, upward pressure on gold persists due to other factors, including the escalation of conflicts in Eastern Europe and the Middle East, Trump’s protectionist policies targeting Europe and Asia, and rising geopolitical risks worldwide.
Technically, after the false breakout at $2,637 (previously a resistance level), the price is now heading toward a new testing zone around $2,622. Below that, the ascending channel support at $2,606 could act as the lower boundary where buyers may start an aggressive play.
Key Support Levels: $2,622, $2,606
Key Resistance Levels: $2,637, $2,647, $2,665
Overall, I lean toward a medium-term bearish trend. However, the local situation remains tense and complicated. If the bulls manage to hold their ground within the ascending channel, gold may continue its upward move.
But! If buyers fail to maintain their position within the channel, a correction could extend the downward momentum further, leading to deeper declines.
Best regards, Bentradegold!