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Technical Analysis

GBPUSD Ben hello everyone! On the 1-hour chart, the downtrend continues. After losing momentum from 1.306, GBPUSD has continued to decline. With the market looking unfavorable and the Fed’s interest rate cut policy unclear, GU has lost value. The next target for the next decline is seen at 1.2950, ​​which is a strong psychological barrier. However, the possibility of a rebound cannot be ruled out if the bulls manage to push the price up from 1.2980 as mentioned on the chart.
Short
by Bentradegold
EURUSD continues downtrend below 1.0900Dear Friends, You may be wondering why the price has fallen so sharply. In international market news: - The US Dollar (USD) continued to appreciate, albeit modestly, encouraging the US Dollar Index (DXY) to maintain multi-week highs above 103.00. - Supporting the greenback's rally in recent weeks were the minutes of the Federal Open Market Committee (FOMC) meeting on September 18. The minutes showed that a "majority" of policymakers favored easing monetary policy with a 50 basis point cut, but did not commit the Federal Reserve to a specific timeline for future cuts. Results: - As both the Fed and the ECB consider additional interest rate moves, the EUR/USD outlook will depend on macroeconomic trends. The US economy is expected to outperform the Eurozone, potentially boosting the USD further. On technical analysis and gold price forecast for the coming period: - EURUSD has broken above the support level at 1.0892 and the price volume is below both the 34-day and 89-day exponential moving averages (EMA), suggesting a higher possibility of further declines. - Currently, EURUSD is trading near the resistance level of 1.0892, with immediate support at 1.0850.
Short
by Bentradegold
GBPUSD's decline has not stopped yetHello everyone, Conan! Today, the GBPUSD pair is maintaining a mild negative trend, trading at around 1.0544. After losing momentum from 1.3000, GBPUSD has continued to decline. The pair could continue to decline in the coming period, as the market reassesses the Bank of England (BoE) policy outlook following weak inflation data. The current support level is set at 1.2976, significant stops will accumulate below this figure and if triggered, the decline could accelerate towards 1.2950.
Short
by ConanTradingFX
1
EURUSD extends gains above 1.0850Conan, hello everyone! Currently, EURUSD is taking advantage of the upside opportunity from the strong support at 1.0852. It can be seen that the pair is cooling down and gradually opening up more upside opportunities. It is clear that EUR/USD is on a tear, falling to a multi-week low as the Euro continues to weaken ahead of the upcoming European Central Bank interest rate meeting on Thursday. However, the widely expected ECB rate cut of a quarter of a percentage point, or 25 bps, has eased some of the pressure on the pair. The price is currently trading around the 1.0862-1.0860 range and remains dependent on the price momentum of the US Dollar (USD). Resistance: 1.0876, 1.0905 Support: 1.0852, 1.0858
by ConanTradingFX
Gold price update: Price exceeds 2665 USDHello everyone! As Conan predicted earlier, gold did indeed take advantage of the $2,665 support level and broke above the nearest resistance level of $2,770. As a result, gold rallied and hit an earlier high of $2,685 before quickly correcting slightly but still maintaining its best uptrend in 2024. Currently, according to CME's FedWatch tool, traders are pricing in a 96% chance of a further 25 basis point cut in US interest rates at its November policy meeting. In addition, experts predict that the ECB is likely to cut rates again at its October 17 meeting. Likewise, expectations for a BoE rate cut at its meeting next month are gradually increasing as domestic inflation shows signs of slowing.
OANDA:XAUUSD
by ConanTradingFX
A profitable long trade on gold 15mn chartHello traders, as you can see from the chart, actually the weekly level was almost hit and.Take Profit was almost hit But because of the lack of the momentum.The trend started the move. The upper move started dying down because there was no more bullish momentum That led. That led to the.end of the the higher move, anyhow we were able to lock in some profits and the trade was pretty neat.Notice also that the move was starting from yesterday, not only today and strong momentum that took place since yesterday and the volume died down and the market started reversing This is a natural process that happens all the time in the markets after a long move and a long run, but at the end of the day.i am glad i was profitable
OANDA:XAUUSD
by YMtradingsystem
Total 2 MA200Regarding the prevues analysis which i shared with you guys , Total 2 is trying to reach out to MA200, i believe the reason it didn't hit it yet is because of Ethereum movement which its so slow and heavy, but it(ETHUSDT)has been hit the MA200 so we can expect the rest of the Alt Coins to start moving upward at least to their MA200 area. will update you again when i want to open the long position on the Alt coins that i am watching. cheers and have a successful trades with money management and risk management. Regards
CRYPTOCAP:TOTAL2Long
by omidghkh66
SasanSeifi| Is Ethereum Poised for a Move to Higher Levels?Hey there, ✌ In the daily timeframe analysis, as shown, the price has entered a downward trend from the $4,000 range. Following this price drop, it reacted at the important support level of $2,100, oscillating between the price ranges of $2,100 to $2,800. Currently, after observing demand at the $2,300 level, the price has experienced slight positive fluctuations and is trading around $2,600. Based on the candlestick behaviour, it is anticipated that in the short term, the price may rise towards the important resistance levels of $2,700 to $2,820, with some minor positive fluctuations. If the price breaks above $2,820 and stabilizes in lower timeframes, the likelihood of further price growth towards the resistance zone of $3,000 to $3,250 increases. In such a scenario, monitoring the price reactions at these levels will be essential for evaluating the next trend. However, if the $2,820 level is not breached and the price fails to maintain its stability, the possibility of a price retracement may rise. The long-term outlook remains bearish, with expectations for the price to move towards the $1,800 to $1,500 range. In the daily timeframe, the $2,450 to $2,300 levels serve as critical support. Maintaining the price above these levels is crucial for the desired scenario. Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help! If you found my analysis helpful, I would appreciate it if you could show your support by liking and commenting. Thank you!🙌✌
by SasanSeifi
MANYAVAR: Analyzing Potential Bullish Reversal, Festive DemandNSE:MANYAVAR : Analyzing Potential Bullish Reversal Amidst Festive Demand Surge Current Price: ₹1337 Date: 16 October 2024 In the dynamic landscape of the retail market, MANYAVAR is currently navigating a pivotal phase, with signs indicating a possible bullish turnaround. As the festive season unfolds, characterized by heightened consumer activity due to significant celebrations like Karwa Chauth and Diwali, this analysis provides a comprehensive outlook on key support and resistance levels that could influence trading strategies. Key Technical Levels: Support Levels: ₹1305: A significant psychological support level. A decisive move below this could trigger bearish sentiment and signal increased selling pressure. ₹1316: This level serves as a secondary support. Maintaining prices above this threshold is vital for sustaining bullish momentum. ₹1336: Currently serving as immediate support, this level is crucial for determining short-term price action and trader sentiment. Resistance Levels: ₹1346: The first major resistance level. A breakout above this price point could catalyze bullish sentiment and attract momentum traders. ₹1357: An additional resistance zone. Close monitoring of price reactions here will be essential to confirm a potential uptrend. ₹1376: Further up the chart, this level is critical for the validation of sustained bullish momentum. ₹1427, ₹1466, ₹1496: Long-term resistance levels that, if breached, could signify a strong bullish phase and draw in significant institutional interest. Breakout Zone: The pivotal breakout zone lies between ₹1346 and ₹1357. A robust close above ₹1357 may set off a chain reaction of buying activity, propelling the stock towards higher resistance levels and potentially unlocking significant upside. Market Sentiment and Context: The approach of the festive season presents a unique opportunity for retail stocks, particularly in the ethnic wear segment. With consumer spending historically surging during this period, demand for jewelry and traditional attire is expected to increase. This favorable market environment positions MANYAVAR well to capitalize on the seasonal uptick in consumer behavior. Strategic Outlook: Given the current price action and the backdrop of impending festive demand, traders should closely observe key support and resistance levels to refine entry and exit strategies. A careful assessment of price movements around these thresholds will be critical for identifying potential bullish opportunities. Conclusion: MANYAVAR stands at a crucial crossroads that may lead to a bullish reversal, particularly as market conditions favor increased retail activity during the festive season. By monitoring key technical levels and market sentiment, traders can position themselves effectively to leverage potential price movements. Disclaimer: I am not a SEBI Registered Research Analyst (RA). This analysis is for educational purposes only and should not be considered as investment advice. Please conduct your own research or consult a financial advisor before making any trading decisions.
NSE:MANYAVARLong
by Fight_Bulls_vs_Bear
EUR/USD Struggles to Recover - Bears Dominate!Today, EUR/USD pair continued to fluctuate in a narrow range below the 1.0900 mark during Thursday's trading session, holding on to recent heavy losses, after falling to a near two-month low the previous day. Technically, the old support level has turned into a stiff resistance, making any recovery attempt difficult. Meanwhile, technical indicators and signals from EMA 34, 89 continue to favor the Bears, putting EUR/USD on the back foot against other rivals. Good luck traders!
Short
by Bentradegold
2
Will the all-time high in open interest support Bitcoin's rally?Macro theme: - Bitcoin jumped over 5% yesterday, following a positive trend across the crypto market. This has fuelled investor optimism for further gains in the coming months. Improved market sentiment, global stock rallies, and limited negative news from Middle East tensions have supported the rise of bitcoin. - Additionally, open interest in Bitcoin futures and perpetual surged by about 33,000 bitcoin last week, reaching an all-time high in USD terms, according to ETC Group. These factors strengthen the case for a continued rally through "Uptober." Technical theme: - BTCUSD is around its resistance at 68340, confluence with the descending trendline. The price is trading above both EMAs, indicating a solid bullish momentum. - If BTCUSD extends its rally above 68340, it may retest the nearby key resistance area 71400-73000. - Meanwhile, BTCUSD may retrace to test its support area at 62800-64400 before resuming its upward movement. Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
Long
by DatTong
Bitcoin (BTC): Rally Fueled by Election SpeculationBitcoin’s recent momentum seems unstoppable, and if it continues at this pace, we could see it challenge the All-Time High soon. Is the rally driven by election speculation? Quite possibly. Former President Donald Trump's growing lead over Vice President Kamala Harris is creating buzz, with decentralized prediction markets like Polymarket reflecting a widening gap between the two candidates. Trump's odds surged 13 points ahead of Harris by October 15. While Larry Fink may downplay the election's impact on the market, we disagree, as we anticipated Trump's increasing odds would begin influencing market sentiment. The recent surge in Bitcoin ETF inflows supports this view. With $550 million in inflows yesterday alone, the spike suggests that institutional investors, rather than retail, are fueling this rally. Institutional adoption continues to grow steadily, benefiting our spot BTC positions, which are printing gains once more. Ignoring a brief dip below the trend channel, Bitcoin has consistently respected it, aligning well with the support zone. Currently, BTC is trading slightly above the trend channel, facing resistance from an order block. While this resistance may hold for a while, we anticipate it will eventually break. However, a slight dip before that would present a valuable buying opportunity, which we aim to capitalize on. Zooming in on the VWAP chart, BTC has reclaimed the 2024 Q1 VAH but is now trading within a 12-hour Fair Value Gap (FVG). A pullback here would be ideal for positioning ourselves for the next leg up. With multiple levels aligning, we have two entry points prepared, and a flexible stop-loss strategy to manage the trades in real time.
CRYPTO:BTCUSDLong
by freeguy_by_wmc
DreamAnalysis | Key Triggers for ENJ Futures and Spot Trading✨ Welcome to today’s analysis! In this session, I will analyze Enjin Coin (ENJ) and review its key triggers in both futures and spot markets. The entire crypto market is currently in a significant zone, and how the price reacts here could set the direction for the coming months. 🧩 About ENJ and Its Role in Crypto Gaming If you’ve been involved in crypto gaming, you’ve likely heard of ENJ (Enjin Coin), but you might not know exactly what role it plays. Every game is built using a game engine, such as Frostbite or Unreal Engine, used in major games. However, these engines are complex and expensive, which makes them impractical for crypto projects. ✨ Enjin Coin provides a simpler, blockchain-specific game engine, which is why it has become one of the top projects in this space. It has even partnered with notable names like CoinMarketCap, Binance, and Atari. 🔍 Now that we know what Enjin Coin brings to the crypto space, let’s dive into the chart and explore important triggers. The analysis is conducted in the daily and 4-hour timeframes. 📅 Daily Timeframe Analysis On the daily chart, ENJ has been in a downtrend from its $0.6556 high, falling to the $0.13 support level. It has since entered a range-bound phase, moving between $0.13 and $0.1778 for the past two months. A confirmation of an uptrend could be seen if the price stabilizes above $0.1778, with RSI needing to break through 59.61 and market buying volume increasing to confirm bullish momentum. 📈 If the price breaks through $0.1778 or $0.2054, it would be a good opportunity for spot buying. Targets for this move would be $0.2645, $0.4098, and $0.6556. 📉 On the downside, if $0.13 support breaks (likely coinciding with RSI falling below 42.48), it’s advisable to activate stop-losses if you already hold ENJ. The next support below would be at $0.0921. ⏳ 4-Hour Timeframe Analysis In the 4-hour timeframe, ENJ is stuck in a long consolidation range, which limits the effectiveness of momentum indicators like RSI, so I won’t use it here. 🔼 The price recently broke above $0.1543 and is now pulling back towards this level. If the upward move continues, the next target would be $0.1658, with the final target at the top of the range near $0.1823. If you don’t have a position open, consider entering a long trade on a break above $0.1658. What’s encouraging here is that volume is increasing, signaling strength in the bullish move. 🔽 For a short position, a break below $0.1398 would be a suitable entry point. If the price confirms and holds below this zone, we could see a move toward the $0.13 support. The main short position would be triggered after a break below $0.13. 📝 Overall, I currently see a bullish momentum in the market for futures and prefer opening long positions. ❌Disclaimer This is not financial advice; it is merely my personal opinion on how the coin might move. Always conduct your own research before making any decisions.
Long
by DreamAnalysis