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Support and Resistance

EURGBP to continue in the bullish channel?EURGBP - 24h expiry Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end. 20 4hour EMA is at 0.8429. We look to buy dips. Dip buying offers good risk/reward. A break of the recent high at 0.8463 should result in a further move higher. We look to Buy at 0.8431 (stop at 0.8409) Our profit targets will be 0.8489 and 0.8499 Resistance: 0.8454 / 0.8464 / 0.8485 Support: 0.8436 / 0.8420 / 0.8404 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
USDCHF – Potential Bearish Continuation Toward SupportThe USDCHF pair has broken below a key ascending trendline, signaling a potential shift in momentum. This move aligns with a bearish bias, suggesting that price action may now head lower. If the price retraces back to the broken trendline or nearby resistance levels and forms bearish confirmations—such as rejection patterns, bearish engulfing candles, or long upper wicks, it could reinforce the likelihood of further downside movement. Should this scenario materialize, sellers may target the 0.90484 level as the next area of interest. A sustained breakdown below this support zone could pave the way for continued bearish pressure. However, traders should remain cautious. A break back above the resistance zone or strong bullish momentum could invalidate this outlook.
Short
by TrendDiva
1
USDJPY Short USD/JPY Short Trade Analysis This trade is purely structure-based, as I do not trade news events like Inauguration Day. My focus is entirely on price action and market structure. The market recently dipped below the structural level at 156.310, signaling a potential bearish continuation. Currently, it's forming its Outside Return (OR)—a pullback that aligns with the broader downtrend. My target for this trade is the next key support level at 154.551, consistent with the ongoing bearish sentiment. Staying true to market structure and ignoring news helps me maintain a disciplined and objective trading strategy.
Short
by AlexanderPlant
GBPNZD Swing trade: WC20/01/2025 GBPNZD Analysis: Waiting for Key Closes From a swing perspective, GBPNZD is a no-trade for now, with a bias still leaning bullish. The higher timeframes (daily) show a deeper pullback into the previous higher high, indicating we may be in a consolidation phase. If today's daily close is below 2.17900, we could see a deeper pullback toward the 2.14900 region before a potential buy opportunity. This pullback could offer a solid 5:1 risk/reward if we enter once price begins to form a new higher high. For confirmation of bullish momentum, we’d need to see a daily close above 2.18783 today. This would signal strong upward momentum and give us a clearer entry for the next leg up. Patience is key, as we need confirmation before entering buys. Keep an eye on these levels!
Long
by Thetraderscollective
GBPJPY Analysis: Swing 20/01/2025 GBPJPY Analysis: Key Levels to Watch Since rejecting 198.500 on January 8th, GBPJPY has been in a steady bearish descent, completing an M-structure on the daily timeframe. Fundamentals continue to support JPY strength in the coming days and weeks, suggesting further bearish momentum. However, keep in mind that we could see a bullish pullback before the next leg down. For now, the key level to watch is 190.400. If we get a daily bearish close below this level, it could open the door for a move toward 187, offering a potential 400-pip opportunity before reassessing. Patience is crucial—no trade unless we see a confirmed break below 190.400
Short
by Thetraderscollective
XAUUSD Weekly Analysis 20/1/2025Gold remains bullish, but we're approaching a significant resistance level at 2748. On the 4-hour chart, this level has already formed a triple top: November 25th, December 24th, and January 16th. These repeated rejections highlight the importance of this area as a decision point for price action. For a continuation of the bullish trend, we need to see a strong 4-hour close above 2748. Why 4-hour? Because we've seen 30-minute closes above this level in the past, but the lack of follow-through led to bearish reversals. A confirmed 4-hour breakout would suggest the bulls are ready to push higher, targeting the next major level around 2787.55, offering approximately 200 pips of potential upside before re-evaluating the trade. On the flip side, a rejection at this level could lead to a significant move lower, similar to what we saw in December. The first target in this scenario is around 2640 (a potential 750-pip drop). If selling pressure intensifies, we could see an extended move down to 2581, which would represent a 1,300-pip decline. At those lower levels, we would look for buying opportunities, as they could provide a favourable setup for continuing the long-term bullish trend. For now, all eyes are on 2748—watch closely for how price reacts here, as it will set the tone for the next big move!
FPMARKETS:XAUUSDLong
by Thetraderscollective
BITCOIN → Correction before further flight to 112-120KBINANCE:BTCUSD surprises everyone again with this week's rally. After retesting the panic and risk zone, when many started selling, the price turned around and flew 18% in a few days.... One week old idea: BITCOIN → Retest of key support. What can happen? There could be several factors behind the gains that have been forged over the past 3 days: New reports point to increased activity from major players, including institutional investors, Trump's upcoming inauguration, the crypto community is expecting the new president to take active steps. And overall, the bullish three-day run is a combination of macroeconomic factors, technical breakdown and fundamental confidence in the future of cryptocurrencies. All of this created a strong bullish momentum that attracted new buyers and increased institutional investor interest. From a technical perspective, the 100K and 102.5K area plays an important role for me. If the bulls can keep the price above this zone, the growth will continue in the medium term. Support levels: 102.5K, 100K Resistance levels: 103.6K, 105.7K, 107.5K Technically, at the moment, a pre-breakdown situation is forming on H1 against the support at 102.8. Accordingly, bitcoin may form a correction to both 100K and 97.5K. But, if the fall will quickly recover or the bulls will keep the defense above 100-102.5K, then further we can count on growth up to 108-112K. Regards R. Linda!
BINANCE:BTCUSDLong
by RLinda
12