EURUSD Will Go Up! Long!
Take a look at our analysis for EURUSD.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 1.048.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.053 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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Signals
COPPER bottomed and a huge rally is expected to start.Copper (HG1!) has been trading within a Channel Up for 1.5 year (since May 2022) and is consolidating at the moment on the 1W MA50 (red trend-line) very close to the pattern's bottom. This is in fact a Double Bottom formation that is similar to the September 28 2022 Low.
As you can see both fractals had a 1W MA50 Double Bottom with their 1D RSI sequences also following an identical trend. The 2022 bottom initiated a rebound that hit the 0.786 Fibonacci retracement level. As a result, our Target as of now for Copper is 4.900.
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CHFJPY expected to bottom soon. Unique long-term buy opportunityThe CHFJPY pair has been trading within a long-term Channel Up pattern for more than 2 years (since the September 22 2022 High). More recently on September 16 2024, the price bottomed on its Higher Lows trend-line and the subsequent rebound to the 0.786 Fibonacci retracement level, initiated a new pull-back that broke yesterday below its 1D MA200 (orange trend-line).
This is identical to the Channel's previous bottom formation in January 2023. The rebound that followed also got rejected near the 0.786 Fib and retraced all the way to the 0.236. Then it started a relentless Bullish Leg all the way to the 2.0 Fib extension. Even the 1W RSI sequences between the two fractals are identical and we are at the point where the RSI is about to break below its MA and give the buy signal.
As a result, we turn bullish on the CHFJPY pair, targeting 188.000 (near the top of the Channel Up).
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ENSUSD approaching the top of 1-year Channel Up. Make or break?Ethereum Name Service (ENDUSD) has been trading within a Channel Up since January 2024 and the recent post U.S. elections surge is about to hit its top (Higher Highs trend-line). This is a standard break-or-rejection strategy: As long as the 1D candles close within the Channel Up, we are expecting the 1D MA200 (orange trend-line) and 0.5 Fibonacci retracement level to get tested (23.850). In the event of a 1D candle closing above the pattern, we will have a bullish break-out targeting the All Time High at 84.860.
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ACT | These Pumps are Fun?PumpFun & Meme Mania
ACT is a meme token operating on the Solana blockchain, initially launched on Pumpfun and endorsed by AI. ACT stands out by reimagining user interactions with AI, moving beyond the traditional one on one assistant model to establish a collaborative peer network.
The current price of Act I: The AI Prophecy is $0.62, reflecting a 25% increase in the past 24 hours thanks to Binance listings. ACT has a circulating supply of 948.25 million tokens, with a maximum supply of 1 billion.The token was first issued on October 19 and has been hovering around a $20 million market cap over the weekend.
The token's 24 hour trading volume is $977 million, and it is actively traded across 28 markets and 20 exchanges, with Binance being the most prominent.Currently, Act I: The AI Prophecy holds a 0.02% share of the total cryptocurrency market, boasting a market capitalization of $616 million
In this cycle, meme tokens dominate and create extreme volatility, as their creators are often already planning the next meme project. Remember to set a stop-loss and avoid going all-in!
Which meme coins are you bullish on?
Too many patterns to suggestMorning folks,
Surprisingly, but BTC has not come to 102K target directly. Despite a lot of panic headlines in media about 8+% drop - nothing awful has happened. Very small retracement and inside week.
In some way 102K target will be reached, no doubts. But right now it is impossible to say in what particular way this will happen. As there are too many patterns that we could suggest. Here, on the chart we already have three of them. On daily chart it might be another two.
Keeping it simple, the concern is about how BTC will go higher - either right now or after deeper retracement.
Since today a Holiday and we will have a weekend soon, we think it would be better do not hurry up and postpone everything until Monday. There might be some clarity.
Lingrid | TRXUSDT strong BULLISH Trending MARKETThe price perfectly fulfilled my last idea. It hit the target level. BINANCE:TRXUSDT is displaying a strong bullish trend, as evidenced by its consistent formation of higher lows and higher highs. On the daily timeframe, the market has retraced after reaching new all-time highs. There's a possibility that the price might pull back toward the support level, dipping below the psychological round number at 0.200. I anticipate that the market could form a correction toward the lower border of the channel before continuing its upward movement. This correction might provide an opportunity for buyers to enter, with the potential for the price to retest the recent higher high level afterwards. My goal is resistance zone around 0.2200
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
GOLD fell rapidly in the short term, pressured by US dataIn the early trading session in Asian markets on Thursday (November 28), OANDA:XAUUSD Spot delivery suddenly dropped sharply in the short term, currently trading around 2,629 USD/ounce. Gold prices gave up much of their earlier recovery gains after data showed inflation progress was stalling, as the data could make the Federal Reserve cautious about cutting interest rates further.
According to Wednesday's economic data, US durable goods orders rose 0.2% month-on-month in October. While it did not meet expectations of 0.5%, it was an improvement. improved compared to a decrease of 0.4% in September.
The number of people applying for unemployment benefits in the US in the week of November 23 remained stable at 213,000, lower than the expected level of 217,000.
The real (quarterly annually adjusted) rate of gross domestic product (GDP) in the United States in the third quarter was unchanged from its baseline value, at 2.8%, and growth slowed from 3% in the second quarter.
But the GDP report still shows that the US economy still has good resilience. GDP growth has exceeded 2% in eight of the past nine quarters.
A report released by the US Department of Commerce showed that the Fed's favorite inflation index rebounded in October compared to September. The data supports Fed officials taking a more cautious stance in recent times. next interest rate cut.
The Fed's favorite measure of inflation, the core personal consumption expenditures (PCE) price index that excludes volatile food and energy, rose 2.8% year-on-year in October, a highest since April this year compared to September, up 2.7%.
Additionally, the core PCE price index increased 0.3% month-over-month in October, in line with expectations.
The PCE price index increased 0.2% month-over-month and 2.3% year-on-year in October, both in line with the forecasts of analysts surveyed by Dow Jones. The PCE index's annual increase in October was higher than September's 2.1% gain.
Wednesday's data showed that U.S. personal income rose 0.6% month-on-month in October, significantly better than the expected increase of 0.3%.
Minutes of the Federal Reserve's November monetary policy meeting released Tuesday showed that although Fed officials said they expected to continue cutting interest rates in the future, they said the pace Interest rate cuts will take place “gradually”.
The gold market fluctuated strongly this week. As Israel and Iran-backed Hezbollah in Lebanon declared a ceasefire, reducing demand for safe havens, gold suffered its biggest one-day drop in more than five months on Monday and prices fell to a low. most since November 18 on Tuesday.
Analysis of technical prospects for OANDA:XAUUSD
On the daily chart, gold continues to maintain its main bearish trend after approaching and coming under pressure from the 21-day moving average (EMA21).
The drop below the 0.618% Fibonacci retracement is a good signal for bearish expectations as the target behind that is at the levels of 2,606 – 2,600USD. Note to readers in the previous issue.
On the other hand, the Relative Strength Index is flat below 50, if it is pointing down this can be considered a good signal for a downtrend.
As long as gold remains below the EMA21 and within the price channel, it will remain bearish in the near term and price rallies should only be considered short-term recoveries without changing the current primary trend.
During the day, the technical outlook for gold is bearish with notable points listed as follows.
Support: 2,606 – 2,600USD
Resistance: 2,634 – 2,644USD
SELL XAUUSD PRICE 2686 - 2684⚡️
↠↠ Stoploss 2690
→Take Profit 1 2679
↨
→Take Profit 2 2674
BUY XAUUSD PRICE 2579 - 2581⚡️
↠↠ Stoploss 2575
→Take Profit 1 2586
↨
→Take Profit 2 2591
World gold price todayWorld gold prices continued to increase slightly, with spot gold increasing by 3.2 USD to 2,632.8 USD/ounce. Gold futures last traded at $2,660.40 an ounce, up $4.80 from the bright spot.
USD weakness added momentum to gold on Wednesday. Accordingly, the US Dollar Index fell 0.8%, hitting a two-week low, increasing the appeal of gold to holders of other currencies.
However, the growth rate of this precious metal has been limited by the release of new data showing the potential distribution of chlorophyll. This indicates that the US Federal Reserve (Fed) could be very important in cutting interest rates. According to the report, US consumer spending increased sharply in October, but the slowdown appears to have been patchy in recent months.
According to the minutes of the recent policy meeting released on Tuesday, there is currently uncertainty about the direction of the economy. That increased market expectations for an interest rate cut in December after the minutes were released. According to CME's FedWatch tool, the market currently forecasts a 70% chance of a 0.25 percentage point rate cut.
BTCUSDT Technical Analysis OverviewHi guys,
Ascending Channel and Breakout:
The chart shows a long-term ascending channel that guided price action for several months. Recently, Bitcoin broke out of this channel, signaling a strong shift in bullish momentum. The breakout was accompanied by significant volume, confirming the strength of the move.
Fibonacci Levels and Pullback Zone:
After the breakout, the price retraced slightly and is now hovering around the 0.618 Fibonacci retracement level ($87,208) and the 0.5 level ($83,322). This area is critical, as it coincides with a Fair Value Gap (FVG)—a liquidity zone where buyers are likely to step in.
EMA 34 and EMA 89 Support:
Both EMA 34 and EMA 89 are acting as dynamic support levels, and their upward slope reinforces the bullish structure. This alignment confirms that the current pullback is part of a healthy correction in a broader uptrend.
Liquidity Grab Potential:
The highlighted liquidity zone suggests that price may temporarily dip to attract more buyers. A test of this zone could serve as a springboard for the next upward leg.
Upside Targets:
Using Fibonacci extensions, my first target aligns with the 1.0 level ($99,787), followed by 1.272 ($108,744) and 1.618 ($120,138). These levels represent logical points where profit-taking could occur in the next bullish wave.
Price Action Scenario:
Based on the chart, I anticipate a potential bounce from the liquidity zone and FVG, leading to a continuation of the bullish trend. However, a failure to hold the $83,322 level could invalidate this setup and shift focus back to lower support zones.
Conclusion:
The technicals suggest that Bitcoin remains bullish as long as the key support at $83,322 holds. I'm closely watching price action in the FVG zone for signs of buying pressure before targeting higher levels at $99,787 and beyond. Patience is key, as the market digests the breakout and prepares for its next major move.
GOLD → Controversial fundamental background. What's next?OANDA:XAUUSD capitalizing on the weakening of the US dollar and heading towards the areas of interest and liquidity at 2635 - 2639. But! There are signs that a flag pattern is forming. Theoretically, any attempt for gold prices to rise could be limited. PCE, GDP, and the resistance ahead...
Meanwhile, sellers pause slightly amid concerns about trade wars, geopolitical risks, expectations that the Fed will cut rates by another 25 basis points in December, recently declining US bond yields, and the USD falling overnight to a two-week low. However, ahead of the upcoming macroeconomic news from the US, namely PCE and GDP, after a relatively quiet news week, volatility is likely to be unpredictable. The question now is whether the downward momentum will continue as the price reacts to a critical support zone.
Technically, gold remains range-bound and is heading towards areas of interest from which a retracement could form. But this reaction also partly depends on the news....
The focus is on the imbalance zone, fibo 0.618 and fibo 0.5. Due to the controversial technical and fundamental background, the gold price may close inside a wide channel, which allows us to use its boundaries for trading. We are watching the resistance with a sell target for further downside
Technical analysis of XAUUSD chartDear friends, it's Ben here!
Flag Pattern: The chart showcases a well-formed flag pattern, a classic bearish continuation signal.
Target Projection: Using the height of the previous wave 3 of the flagpole, the pattern's target is forecasted to be around $2,553.
Fibonacci Levels: The price is at a level corresponding to the 0.618 Fibonacci retracement at $2,637, a strong bearish signal, with the next resistance near $2,647 (0.5 Fibonacci retracement).
Breakout Confirmation: A breakout from the flag will confirm the bearish momentum.
Trend Outlook: A macro bearish trend is indicated, supported by resistance rooted in fundamental factors...
Consider, share your opinions and questions, discuss what is happening with OANDA:XAUUSD
EURUSD: Corrects After False Breakout Before Continuing DownwardFX:EURUSD rising higher based on the correlated reaction with the dollar. The currency pair is likely to test the local highs. But! Since there is scheduled news today, you must be extremely cautious...
The fundamental background remains overall very negative since Trump’s victory.
Additionally, the local downtrend is not yet over, thus providing us with the main trend to follow in our trading decisions.
From a technical perspective, as a false support breakout is forming on the chart, we should wait for a retest of the resistance areas to consider further selling attempts aimed at pushing the price lower.
Short-term levels to watch:
Resistance levels: 1.051, 1.065, 1.076
Support levels: 1.051, 1.044, 1.033
If the bears behave aggressively on the back of the news, the price will likely continue to decline from these areas.
#IOTX 1D: 100% Circulating Supply – Stable Growth. 11/28/24Launched in 2017 as an open-source project, IoTeX has evolved into a decentralized platform empowering the open economy for machines. It is an ecosystem where people and machines interact with trust, autonomy, and carefully designed economic incentives.
Nearly 100% of all tokens are already in circulation, a crucial factor as it eliminates future unlocks that could lead to large-scale sell-offs. This reduces market volatility caused by major sales.
The current price level appears to be a "bottom," making further declines unlikely.
With a market cap exceeding $400 million, IoTeX has growth potential. If its market cap increases significantly, the token price could follow, indicating the project has yet to reach its full potential.
IOTXUSDT shows promising potential for further growth, supported by the limited availability of tokens for large investors.
#DOGS 1D. Symmetrical Triangle – Key Levels Inside! 11/28/24Over the past week, I noticed that trading volumes for this token on Binance have risen to levels comparable to many popular tokens, both on futures and spot markets.
Currently, the price has formed a symmetrical triangle pattern on increasing volume, bouncing off the support level. This could indicate potential for further growth.
I plan to take profit on both spot and futures positions in the $0.010 - $0.012 range, as I don’t see value in holding beyond that. Setup is shown on the chart.
DYOR.