Lingrid | EURUSD capitalizing on Bullish MOMNETUM. Buy PullbackFX:EURUSD is currently consolidating below the psychological level at 1.12000. On the daily timeframe, it is retesting the the previous week's high, which is likely to be broken upside. Tuesday's close was marked by a strong bullish candle, suggesting that a pullback toward the support area may occur, providing an opportunity to catch the pullback in anticipation of trend continuation. I expect the price to bounce off both the support level and the downward trendline. My target is resistance zone around 1.12230
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Lingrid | ADAUSDT level REJECTION. Potential BEARISH moveBINANCE:ADAUSDT reached the resistance zone at 0.39, where it rejected this level by forming an engulfing candle pattern. Over the past two months, the market has been moving sideways on the daily timeframe. However, the overall trend remains bearish, similar to many other altcoins. Given that the market has reached the top of the range, I anticipate a pullback as it continues to consolidate in this zone. Furthermore, the market has formed an ABC pattern, which typically suggests that a retracement is imminent. This further increases the likelihood of a pullback from the resisatnce. My target is support level 0.36
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Lingrid | AUDUSD breakout and RETEST Continuation TradeFX:AUDUSD broke and closed above the psychological level of 0.6800. As observed, it has established a range zone above this level. Given the overall bullish trend, I believe there is a good chance that the market will continue its upward movement. Currently, the market is testing the weekly level, and it may remain within this range for a while. I anticipate that the market will roll back to the strong support level below and (possibly) the trendline before making a move higher, ultimately breaking and closing above the recent higher high (HH) level. My target is resistance zone at 0.68570
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Gold- Correction loomingGold began the week by setting new all-time highs, with the latest at 2644.
However, the bulls appear to be losing momentum, and the recent rise has formed a small rising wedge, which suggests a potential pullback.
In conclusion, while the medium-term outlook remains very bullish, in the short term, I’m looking to sell in anticipation of a test near the 2600 zone or just slightly below.
Lingrid | GOLD Weekly ANALYSIS: Hitting Another ALL-TIME HighOANDA:XAUUSD market started the week by pulling back, but then showed signs of strength after the rate cut. I think the 2550 level is a key support level; as long as the price remains above it and I believe gold possibly can move significantly higher next weeks, and 2700 is a realistic target if we have some healthy correction in the market. The recent rate cut by the FED and global trend toward lower interest rates favor gold pushing the gold to higher level .
On the daily timeframe, the market has closed above the 2600 psychological level, reaching an all-time high. Currently, the price action has established a weekly range, indicating that the market may consolidate within this range next week. The last weekly candle though suggests that the market could reach the next psychological level at 2700 if it manages to close above the previous week's high (PWH).
Additionally, on the 4H timeframe, the market has formed an equal lows, indicating a possibility that it may temporarily drop below this level to take liquidity, which would mean moving below the 2600 support level. Overall, I expect short-term pullbacks as potential buying opportunities at levels that provide strong support. While the trend is clearly bullish, it’s important to remain patient and wait for pullbacks to identify favorable entry points.
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Lingrid | NZDUSD updating SWING highs. Bullish MOMENTUMFX:NZDUSD is making higher lows, indicating bullish pressure, though the higher highs are relatively at the same level, suggesting a potential breakout of resistance. The recent formation of a bullish continuation a triangle pattern, typically signals that the market is consolidating before a potential breakout. As the market approaches the psychological level of 0.63000, which acts as a resistance zone on the daily timeframe, there is a possibility that it might break through this level. The price action on the daily timeframe appears very bullish, therfore I expect the market to a pullback before attempting to break through this resistance and continue higher. My target is resisatnce around 0.62990
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Lingrid | BNBUSDT Long Signal: Downward CHANNEL breakoutThe price perfectly fulfilled my last idea. It hit the target. BINANCE:BNBUSDT has broken and closed above the downward channel, which is a bullish sign. This move suggests that the market is likely pricing in the potential release of the CZ from jail, and this event could further propel prices to higher levels. Additionally, the price has broken and closed above the $600 psychological level, reinforcing the bullish sentiment. However, I anticipate a pullback toward the channel's upper border, as well as the upward trendline. Once this pullback occurs, I expect the market to continue its upward trend from that point. Keeping an eye on price action during the pullback will be important to confirm the potential for continuation. Mya target is resistance zone around 660.0
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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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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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