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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Signalsprovider
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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U.S. Dollar Index (DXY)U.S. Dollar Index (DXY)
DXY is sitting at an important KL (Key Level) at around 100.600 . On a bigger timeframe we are still bullish on dollar.
Several factors support Dollar strength:
The Dollar is expected to maintain its strength for some time.
Still, some risks could lead to further appreciation, including Euro area concerns, changes in Chinese currency policy, and how markets interpret US growth prospects.
Interest rates:
With yesterday’s interest rate decisions (50BPS) we saw DXY spike down . We do have to keep in mind if interest rate cuts continue, we might turn bearish on DXY, resulting in less demand in U.S. Dollar and more demand in stocks and gold .
If however, we continue to the upside with DXY, it will confirm our XAUUSD sells that we have given the analysis for.
Keep in mind:
The aim of raising of the Fed's rates is to adjust the inflation level to a target value. Interest rate hike may have a positive effect on dollar quotes, while lowering can be seen as negative for the US dollar.
Happy trading!
FxPocket
Lingrid | EURUSD trend CONTINUATION tradeThe price perfectly fulfilled my last idea. It hit the target zone. Given that FX:EURUSD has been in a bullish trend, the recent impulse move down followed by a pull back that took out liquidity below the support level at 1.1100 could be seen as end of correction. This behavior is often typical in bullish markets, as prices can pull back to collect liquidity before continuing with the prevailing trend. Since the overall market sentiment is bullish, I expect a continuation of the trend. I believe the market is poised to break through last month's high, as we’re experiencing strong bullish momentum. My target is resistance zone around 1.12000
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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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Lingrid | DOGEUSDT stays Above KEY Level of 0.1000The price perfectly fulfilled my previous idea. It reached the target level. BINANCE:DOGEUSDT has successfully broken and closed above the psychological level at 0.1000. Currently, the price action is consolidating and continues to bounce off this key level. It seems that the market has taken liquidity from below the psychological level, creating a false breakout. Since the beginning of August, the market has been in a consolidation phase, and I expect the price to move toward the top of the range by breaking through the downward channel. My target is resistance zone around 0.10800
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Lingrid | EURCAD breakout and RETEST Trading StrategyThe price perfectly fulfilled my last idea. It hit the target. Recently, the FX:EURCAD broke and closed above a downward channel, by forming a ABC move. This bullish breakout is significant as it reflects a shift in momentum after a period of downward trend. The market has reached a critical area where previous sell-offs occurred, which suggests that there may be some resistance at this level. Given this context, I anticipate a short-term pullback as the market may seek to retest the channel's upper border before continuing its upward trajectory. Importantly, the major trend remains bullish on the daily timeframe, supporting the idea of a continuation trade following the anticipated pullback. My target is resistance zone around 1.52000
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Lingrid | DOGSUSDT opportunity to BUY at Support ZONESince the initial launch of the meme coin BINANCE:DOGSUSDT , the price has experienced a significant decline of nearly 50% from its ATH, presenting a potential buying opportunity at discounted prices. However, the recently price has broken and closed below the key psychological level of 0.001, which is a concerning sign for bullish momentum. Currently, the price is testing another significant round number at 0.0009. Given the overall bearish sentiment in the cryptocurrency market during this correction phase, I anticipate that the price may dip below this level as well. The consolidation zone suggests that the market is experiencing indecision, but it may lead to further downside before making any upward movement. It's possible that the market could form a false breakout of the previous support level before reversing direction. This could trap sellers who enter the market expecting continued declines. If the market does push below 0.0009 and then quickly rebounds, it could create a potential buying opportunity. My target is resistance zone at 0.0011
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Lingrid | BITCOIN Price Squeeze: Tension Builds for a BREAKOUTBINANCE:BTCUSDT appears to have found support in the 54000 - 53800 area, as evidenced by three fake breakouts on the daily timeframe. This indicates that this level holds significant importance; each time the price dipped below 53800, it closed above it afterward. I believe the market may remain in a range until the Federal Reserve's rate cut decision on Wednesday. Currently, we are seeing the formation of a giant triangle pattern characterized by a series of lower highs and higher lows, suggesting that the price is coiling up in before an extension. Given this setup, I expect the market to oscillate within this range until we receive clarity from the Fed's decision. The tension in the market could lead to a volatile breakout in either direction once the decision is announced. My target is resistance zone around 65000
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