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INJ - Holding Strong and Bounce Back ExpectedBINANCE:INJUSDT (1D CHART) Technical Analysis Update INJ/USDT is currently trading at $31.12 and the price is currently around its well tested support zone. I'm expecting the price to bounce back from this zone. If this support zone breaks then our trade is invalid. Entry level: $ 32.,49 Stop Loss Level: $ 27.65 TakeProfit 1: $ 36.51 TakeProfit 2: $ 39.52 TakeProfit 3: $ 44.99 TakeProfit 4: $ 53.45 Max Leverage: 5x Position Size: 1% of capital Don't forget to keep stop loss. Follow Our TradingView Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts. Cheers GreenCrypto
Long
by GreenCryptoTrades
Breaking Down the Trendline, GBP/USD Continues Downward TrendGBP/USD continues to decline below 1.2500 due to the strong US dollar and political tensions in the Middle East. This not only puts pressure on the British pound but also weakens the UK economy, causing instability in the currency market. Furthermore, the price has broken through the trendline, indicating that the downward trend of this currency pair is becoming stronger. This breakout may be seen as a negative signal, adding selling pressure and increasing the weakness of the British pound against the US dollar.
by Stephen_Anders
EUR/USD Continues Downward Trend Following CPI DataThe EUR/USD currency pair continues its downward trend following the release of CPI inflation data, with prices dropping to 2,700 USD during the European trading session on Friday. The CPI inflation data release caused the US Dollar (USD) to strengthen significantly, putting downward pressure on this currency pair. This has raised concerns among investors about the possibility of the European Central Bank (ECB) implementing monetary policy measures to control inflation. From a technical standpoint, on the 1-hour chart, the downward trend of EUR/USD remains clearly intact. Prices are currently below the simple moving averages (SMA), indicating that the downward trend is still strong. However, global economic and political news also continue to cause volatility in the market, so traders should carefully consider and evaluate their strategies to trade successfully and effectively!
by Daisy_Anna
Gold Prices Reach Record High Amid Middle East TensionsThe price of gold has risen to a new record high, closing at the resistance level of $2,400 USD in the Asian trading session on Friday. The escalation in gold prices is driven by political tensions among Middle Eastern countries, despite the Fed's anticipated interest rate cut in September. Currently, the price of gold is facing difficulty in surpassing the $2,392 USD level, after reaching a new high at $2,396 USD. However, if the price continues to rise and breaks through the $2,400 USD threshold, it could generate a stronger bullish trend, aiming for the psychological level of $2,450 USD. Although the Relative Strength Index (RSI) is at an overbought level, nearing 72.5, this indicates that there are still plenty of opportunities for buyers to demonstrate their strength.
OANDA:XAUUSD
by Daisy_Anna
ETH/USDT 4HInterval Chart ReviewHello everyone, let's take a look at the ETH to USDT chart on a 4-hour time frame. As we can see, the price broke out of the downtrend line, but after reaching the level of $3,701 at the golden fib point, we saw a quick recovery and the price is currently bouncing off the trend line. Let's start by determining the support line and as you can see, the price currently holds support at $3,472, if the support is broken, the next support is $3,313, then we have support at $3,199, and then a very strong support at $3,054. Now let's move on from the resistance line, as you can see, the level of $3,701 is again a strong resistance, when you manage to break out of it, the next resistance is around $3,870, and then at the level of $4,092. Looking at the RSI indicator, we can see that a downward trend line has formed, which may indicate that the price will go even lower. Additionally, when we look at the STOCH indicator, we can also see room for another attempt at recovery.
by cryptodailyuk
1
Analyzing GBP/USD: Price Continues Downward TrendIn Wednesday's US trading session, the GBP/USD pair plunged to a two-month low at 1.2520 after the release of CPI inflation data. This increased selling pressure and raised concerns about the UK's economy and monetary policy. Despite some signs of short-term adjustment, GBP/USD continues its downward trend, as evidenced by prices declining towards the Simple Moving Averages (SMA). Furthermore, the Relative Strength Index (RSI) saw a higher increase during the European trading session, but it still remains below 40, indicating strong selling pressure. A minor short-term adjustment and rally are expected, but it is not strong enough to change the downward trend of this currency pair.
by Stephen_Anders
08/04/24 Weekly outlookLast weeks high: $71365.43 Last weeks low: $67932.12 Midpoint: $64498.81 Trading can be a very complex and difficult profession to be profitable, however it can often be made more simple. The 4H 200EMA can be used to indicate the direction of the market, for 2 months now BTC has reliably been bouncing off the 4H 200EMA making it great support and an ideal position to enter a LONG position. Last week we saw BTC fall as the monthly candle closed which ended the first quarter of the year. Then after reacting positively off the key moving average priced rallied back towards the '21 ATH level of 69K which is HTF support and got back above it. In addition to reclaiming a key level, funding has cooled off and looks much healthier, the halving is less than two weeks away , Greyscale continue to sell but they are slowing down. All signs are bullish for this week and the first few hours of trading have shown it as we blast towards 73K. For this week I am going to continue to build on positions made last week during the dip while keeping and eye on BTC targeting ATH, I believe the conditions are now right to make a run for new highs. BRC20 tokens could be worth keeping an eye on as BTC looks strong as well as RWA's.
by ProR35
Gold Price Fluctuations Following US CPI Inflation DataIn Wednesday's US trading session, the sharp decline of Gold after reaching a new peak at $2,365 has rendered the market unstable and caused sudden volatility. This was spurred by the release of US Consumer Price Index (CPI) data, generating uncertain signals in the market. However, upon examining the 4-hour time chart, we can still observe signs of maintaining the upward trend. The Simple Moving Average (SMA) is still trending upwards with a steep slope and no signs of adjustment. Simultaneously, the Relative Strength Index (RSI) remains stable around the 60 level, indicating diminishing selling pressure after the market has calmed down. This stability could be a signal that prices are likely to surge in the near future.
OANDA:XAUUSD
by Daisy_Anna
Technical Analysis: Market Fluctuations XAUUSDXAU/USD dropped sharply after reaching a new high of 2.365 USD in Wednesday's US trading session following the release of US Consumer Price Index (CPI) data, which unsettled the market and caused sudden volatility. Analysis from the 4-hour chart indicates that XAU/USD is trading below both the simple moving averages (SMA) 20 and 50. This is a clear sign of selling pressure in the market. If the price continues to decline and crosses below the SMA 100, we may witness an extended period of price decline. Furthermore, the Relative Strength Index (RSI) is trading around the 50 level, indicating a balance between buying and selling. If the price continues to trade around this level and drops below the 40 level, we might see a new downward trend in the market.
OANDA:XAUUSD
by Stephen_Anders
Technical Analysis Signals Strong Bullish Trend for USD/JPYIn the past two days, USD/JPY has maintained below 152.00. However, after the release of the United States' Consumer Price Index (CPI) data, this currency pair underwent a sharp increase, surpassing the 152.00 threshold and reaching 152.64. Based on technical indicators, we can observe that the USD/JPY price is experiencing a strong upward trend. This upward movement is illustrated by the price surpassing the Simple Moving Averages (SMA) by a significant margin, indicating a robust and stable uptrend. Furthermore, the Relative Strength Index (RSI) is also indicating overbought conditions, suggesting that the market may undergo a short-term correction before a strong upward momentum resumes.
by Daisy_Anna
ALGO - Trade opportunity after the breakoutBINANCE:ALGOUSDT (1D CHART) Technical Analysis Update ALGO is currently trading at $0.2276 and currently in consolidation phase. Price has formed a nice triangle pattern. If the price breaks out from the resistance line then we have a good opportunity for long trade. If the price breaks down then the next support is around 0.15 Entry level: $ 0.24 Stop Loss Level: $ 0.21 TakeProfit 1: $ 0.256 TakeProfit 2: $ 0.268 TakeProfit 3: $ 0.2931 TakeProfit 4: $ 0.3190 Max Leverage: 5x Position Size: 1% of capital Don't forget to keep stop loss. Follow Our TradingView Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts. Cheers GreenCrypto
Long
by GreenCryptoTrades
GBP/USD Plummeting in US Session Following US Inflation DataThe GBP/USD currency pair has shifted from an upward trend to a sharp downward trend, pushing the decline to the crucial level of 1.2600 during Wednesday's US trading session. This is a result of the strength of the US dollar, particularly following the release of inflation data from the United States. On the 4-hour chart, the Relative Strength Index (RSI) has decreased to around the 40 level, a clear indication of the consolidation of the downward trend. Additionally, the price has crossed and touched the simple moving averages (SMA), a strong signal indicating that the downward trend may continue in the near future.
by Daisy_Anna
GBP/USD Continues Sideways Amid US CPI DataThe British Pound (GBP) striving to overcome the resistance level at 1.2700 against the US Dollar (USD) is a positive sign for the strength of the UK economy amidst the global business crisis. The price of the GBP/USD currency pair may continue to trade sideways, especially as investors await data on the Consumer Price Index (CPI) of the United States. On the 4-hour chart, the Relative Strength Index (RSI) indicates that this currency pair remains high and nearing overbought levels. This suggests a strong upward trend and the potential for continued price increases for GBP/USD.
by Stephen_Anders
Technical Analysis: Potential Upside for EUR/USD In Wednesday's European trading session, we witnessed an expansion of the sideways trend of the EUR/USD currency pair. This occurred as the US Dollar (USD) strengthened its recent losses in response to significant CPI inflation data from the United States. Looking at the 4-hour chart, we observe that the Simple Moving Average (SMA) and the Relative Strength Index (RSI) continue to support the upward trend of the EUR/USD pair. Prices are trading above the SMA lines, while the RSI is above the 50 level, indicating a slight upward trend. Sustaining prices around this level and the RSI advancing towards the 60 mark could lead to a stronger upward momentum in the near future.
by Daisy_Anna
The Kiwi Is Getting Ready For A RecoveryThe Kiwi with ticker NZDUSD woke up last year with a strong reversal on daily chart after a completed larger, higher degree (A)-(B)-(C) correction in B/II, which can be signal for completed deep correction, especially after higher highs and higher swing lows formation up from November 2023 lows. In fact, there was also some nice accelerating price action through December, which looks like an impulse into wave (1), so more upside can be seen in 2024, ideally after current lower degree A-B-C retracement within wave (2) that can be coming to an end with strong support around 0.59 - 0.58 area. Well, if the Kiwi manages to recover back above channel resistance line and 0.6220 level, then we can easily confirm a bullish continuation.
Long
by ew-forecast
Strategic Outlook to Price Fluctuations of EUR/USDThe Euro is still fluctuating around the 1.0850 level, constrained by support and resistance levels. Looking at the 4-hour chart, signs of price increase are still evident at the current moment. EUR/USD is expected to encounter the highest initial resistance level so far in April at 1.0885, and then continue to rise to higher levels. The price remains above the simple moving averages (SMA), indicating that the upward trend is being maintained. However, we need to consider the impact of the global economy and particularly the influence of the US Dollar (USD). The fluctuations of the US Dollar (USD) can cause significant changes for this currency pair, hence evaluating and forecasting the global economic situation is crucial.
by Stephen_Anders
Gold Continue Maintains Uptrend Along The price of gold is gently declining below $2,350 in Wednesday's Asian trading session, following its new record high of $2,365 on Tuesday. Gold traders seem to have pocketed profits after a relentless rally and ahead of the highly anticipated release of the US CPI inflation data. On the 4-hour chart, overbuying pressure has begun to weigh on XAU/USD. Technical indicators remain at multi-month highs, albeit losing some upward momentum, yet failing to clearly define a temporary bottom. Simultaneously, this currency pair continues to advance along the Simple Moving Average (SMA) lines, with no signs of giving
OANDA:XAUUSD
by Daisy_Anna
Gold Market Fluctuations: Analyzing Recent TrendsThe Gold market has experienced some fluctuations in recent days. In Wednesday's Asian trading session, the price of gold saw a slight adjustment as it dropped below the threshold of 2,350 USD, after reaching a new record high on Tuesday at 2,365 USD. Looking at the chart, we can observe signs of price correction towards a retracement, followed by a short-term downward trend before resuming its upward trajectory. Currently, the gold price is trading below the Simple Moving Average 20 (SMA 20), indicating the presence of a short-term downward trend. It is predicted that the price will test the SMA 50 area before bouncing back strongly. However, to better understand the situation, we also need to consider other factors such as economic, political, and global market conditions. These factors could significantly impact the price of gold.
OANDA:XAUUSD
by Stephen_Anders
WIFUSDT 4HInterval Chart ReviewHello everyone, let's take a look at the 4H WIF to USDT chart as we can see that the price is recovering but still above the uptrend line. Let's start by setting goals for the near future that we can include: T1 = $4.17 T2 = $4.83 AND T3 = $5.91 Now let's move on to the stop-loss in case of further market declines: SL1 = $3.66 SL2 = $3.23 SL3 = $2.55 AND SL3 = $2.55 Looking at the RSI indicator, you can see that the local upward trend line has been broken with room for further recovery. However, the STOCH indicator also confirms a strong downward movement and there is also room for the price to go lower, which indicates extreme caution.
by cryptodailyuk
Analyzing Short-Term Trend Correction of USD/JPY In general, USD/JPY is still in an upward trend, but in the Tuesday's US trading session, the price began to decline to the level of 151.75. This may indicate short-term volatility in the market. Based on technical analysis, we can see that the price has broken through the SMA 20 and SMA 50 moving averages. This suggests that the short-term downward momentum may be accelerating, potentially leading to a more significant correction in the downward trend. Furthermore, the Relative Strength Index (RSI) is trading around the level of 40, indicating that the strength of the downward momentum is still being maintained. If the price continues to trade within this range and further declines, it could indicate that a strong downward trend is forming.
by Stephen_Anders