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Technical Analysis

Gold Uptrend - October 21, 2024A recent Kitco News survey shows a broad sense of optimism about the gold price outlook. The majority of experts (94%) predict further price gains, while only one analyst (6%) sees no significant change. However, gold’s ability to maintain its value may be challenged by concerns about the US dollar, which could see demand revive as the ‘Trump rally’ is revived. Additionally, with no major US economic data due for release on Monday, the focus will remain on risk sentiment and speeches from several Fed policymakers to provide fresh impetus to gold prices. When it comes to trading strategies for the start of this week, the priority will be given to buying in view of the Fibonacci extension on the bullish channel as mentioned on D1.
OANDA:XAUUSDLong
by ConanTradingFX
Can EURUSD continue to fall?EUR/USD is currently hovering around 1.0860 after an earlier rally, with stability in the Asian session. Notably, concerns about the possibility of a Federal Reserve rate cut in November have been dismissed, as recent data suggests that the US economy is still recovering. On the 1D chart, we can clearly see that after the price fell out of the uptrend channel and approached the support level of 1.0800, EUR/USD has reversed again. Currently, the price is hovering around 1.0865 and interacting with the 34 and 89 EMAs, combined with resistance at 1.0960. These factors suggest that the downtrend is still in place. My personal prediction is that EUR/USD is likely to continue falling and may hit a lower low around 1.0700 in the near term. Now the realization phase is taking shape we are waiting for confirmation with the prospect of strengthening the purpose.
Short
by ConanTradingFX
Gold Soars but Awaits a CorrectionXAUUSD isn’t just climbing—it’s soaring like a rocket. But wait, before continuing its adventure towards the 2,780 USD mark, the market might need to 'pause' around the support zone at 2,704 USD to refuel. The EMA 34 and EMA 89 are acting like loyal guardians, protecting the bullish trend in gold prices. If gold doesn't turn back and continues its upward journey, the bulls might start preparing for a celebration. However, don’t celebrate too soon; the market could 'flip' at any moment if it faces unexpected resistance. Traders must always be prepared for sudden turns to avoid being left behind! Traders should also be cautious of ongoing instability in the Middle East and Federal Reserve interest rate policies, which could further drive gold prices higher.
OANDA:XAUUSDLong
by Zola_Hello
possible NZDCHF breakout looking from the 4 hour time frame we can see that the market has been in a state of consolidation retesting major level of resistance 0.52620 4 times, the current upside push is currently retesting previous level of resistance from a higher high, if you look at it on the 1hr or 30 min time frame the rejections on all these levels are very clear. Giving me the optimism of a continuous push to the upside, eventually break out of this consolidation phase
Long
by Fxphil_trade
SWING IDEA - XCHANGINGNSE:XCHANGING has been rallying since the last few months. Currently it is at a S/R zone of 128. We have to wait a couple of weeks to see if this will turn out to be a Support Zone or a Resistance zone. If it turns out to be a good Support Zone, we also have a MACD crossover incoming and once the crossover completes, it can rally up the stock at least till its Swing High Levels. Another point to note is while the Lower Low Pattern on Price Action and Higher High Pattern started forming in the April of last year, this is only the next MACD crossover we are going to see after that.
NSE:XCHANGINGLong
by thepranam
SWING IDEA - BCLINDNSE:BCLIND is currently at a good demand zone. The stock is about to close a gap which was created last March. Some good volume and market conditions and it should be able to close the gap by this week or next week. It can start pumping up more and reach its Swing High levels once the Gap has been successfully closed. Company also has a strong 1Y Beta of 1.85. MACD line and signal has a very good split which indicates strong Bullish momentum. If market conditions are good in the coming days, this trade should not have any issues completing sooner.
NSE:BCLINDLong
by thepranam
SWING IDEA - TV18BRDCSTNSE:TV18BRDCST is looking good currently on the weekly charts. The stock is currently trying to break out of the Support/Resistance zone of 48. Weekly closings above this levels could take the stock further upward. MACD also made a cross nearly after the Convergence Divergence that has occurred in March 23. Technically stock is showing some good hopes and can try to revisit its Swing High levels again. If market conditions favor, this trade could get completed sooner than expected.
TLong
by thepranam
2
SWING IDEA - CAPRI GLOBAL CAPITALCapri Global Capital , a prominent non-banking financial company (NBFC), is showing technical indicators that suggest a promising swing trading opportunity. Reasons are listed below : 200 Zone is a Strong Support Zone : The 200 level has been established as a strong support zone, providing a solid base for potential upward movement. Bullish Engulfing on Daily Timeframe : The formation of a bullish engulfing candle on the daily chart indicates strong buying pressure and suggests potential for further upward movement. Support at 50 EMA : The stock is finding support at the 50-day exponential moving average (EMA), reinforcing the bullish sentiment and providing a strong support level. 0.618 Fibonacci Support : The stock is finding support at the 0.618 Fibonacci retracement level, a key area where prices often bounce back, indicating potential for an upward move. Increase in Volumes : A noticeable increase in trading volumes confirms the strength of the price move and indicates growing investor interest. Target - 250 // 290 Stoploss - weekly close below 197 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:CGCLLong
by Visionary_Growth_Insights
SWING IDEA - EQUITAS SMALL FINANCE BANKEquitas Small Finance Bank , a leading small finance bank in India, is showing promising signs for a potential swing trade. Reasons are listed below : 75 Zone as a Strong Support Zone : The 75 level has proven to be a solid support zone, providing a strong foundation for a potential upward move. Bullish Hammer on Weekly Timeframe : The formation of a bullish hammer on the weekly chart, which also engulfed the previous week's candle, indicates strong buying pressure and a potential reversal from the support level. 0.5 Fibonacci Support : The stock is currently resting at the 0.5 Fibonacci retracement level, a key area where buyers often step in to push the price higher. Gradual Uptick in Volumes : An increasing volume trend suggests growing investor interest, further supporting the potential for a bullish move. Target - 95 // 105 // 115 Stoploss - weekly close below 72 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:EQUITASBNKLong
by Visionary_Growth_Insights
3
EURUSD continues to maintain an increasing rangeConan, hello everyone. Today, EUR/USD is maintaining its initial bullish bias below 1.0800, after closing the session with a steady gain above the intact bullish channel. The pair is supported by optimism over China's stimulus measures and a broad correction in the US dollar, which helped reverse the decline caused by the ECB's dovish decision. On the other hand, any further upside is likely to face resistance around 1.0974, above which, it could trigger a short-term recovery and push EUR/USD towards the psychological level of 1.1020.
Long
by ConanTradingFX
Gold todayHello everyone! Overall, Gold is trying to maintain its upward momentum from today's Asian session, despite the risk aversion from China. The weakness in the USD continues to provide momentum for gold. Currently, a cup with handle pattern has appeared, indicating a positive signal for the medium-term outlook. However, the important resistance level of $2,670 is a big challenge. If buyers can take advantage of the strong momentum from the $2,660 - $2,665 zone, supported by the 34 EMA that has not shown any signs of reversal, then gold could definitely break out to $2,680 in the short term.
OANDA:XAUUSDLong
by ConanTradingFX
3