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Trend Line Break

GOLD → Ahead of NFP. Shall we get to 2500?FX:XAUUSD is making new highs and approaching a strong resistance zone from which a small correction may follow before a further rise. NFP is ahead, which may set a short-term backdrop The dollar is in a sideways range ahead of the news, which generally indicates a neutral mood among traders. Strong news can either renew the dollar's decline, which will be favorable for gold, or have the opposite reaction, so it is necessary to look at the actual data. Technically, the gold is approaching the ATH and there is a high probability that the price will not only test the high, but also update it. In general, the fundamental and technical background is positive this week and I think that in the short and medium term we should wait for the continuation of growth. Resistance levels: 2368, 2475, 2483 Support levels: 2451, 2440, 2430 Gold reduces volatility before the news as speculators go into wait-and-see mode. High volatility is expected, on this background the price may test the support before further growth. But if the resistance of 2483-2475 is broken at once, the price may go to 2500-2550. Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ; Regards R. Linda!
FX:XAUUSDLong
by RLinda
20
GOLD → Correction before the bullrun. Target 2500?FX:XAUUSD is strengthening and testing 2450. The price rise was influenced by Powell's comments on progressive deflation and a possible rate cut in September, as well as another conflict in the Middle East.... The Fed left the rate unchanged for the 8th time at 5.5%. The rate has remained unchanged since the summer of 2023 and is the highest in 20 years. There was considerable discussion of a rate cut at this meeting. A rate cut may be considered in September. In addition, the intensification of the conflict in the Middle East may turn into a full-fledged war, which generally increases the interest in gold. Today is also a busy news day. Initial Jobless Claims, SP PMI, ISM are ahead. The data also plays an important role in shaping the medium-term strategy, so it is important to evaluate the actual results. Resistance levels: 2437, 2450 Support levels: 2430, 2421 After a false breakdown of resistance, a correction is forming. Gold is bullish at the moment (trend, sentiment and interest), so the nearest strong support may become a reversal zone for further strengthening. The potential target is 2451 - 2474. Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
6
Gold Price Explosion? Key Patterns Indicating Major Moves Ahead!Technical Breakdown of XAUUSD Overview The chart presents the price action of Gold Spot (XAUUSD). Key technical patterns and significant support/resistance levels are highlighted to provide insights into potential price movements. Key Patterns and Levels Descending Channel: The price previously moved within a descending channel, marked by lower highs (LH) and lower lows (LL), indicating a downtrend. The breakout from the descending channel suggests a potential shift in momentum from bearish to bullish. Support/Resistance Levels: HTF (Higher Time Frame) Support/Resistance: A crucial level providing a foundation for significant price movements, shown with blue lines. LTF (Lower Time Frame) Support/Resistance: A lower time frame level within the channel, highlighting short-term price actions. 1HR Double Top: A resistance level around 2458.3 where the price is currently facing a decision point. Bullish Patterns: 3 Touch Flag: A bullish flag pattern with three touches indicating potential continuation if the price breaks above the resistance. Daily Bull Flag: A larger time frame bull flag pattern suggests a bullish continuation if the price breaks above the upper boundary. Liquidity Zones: Weekly LQZ: A liquidity zone around 2484, which acts as a significant resistance level. Daily LQZ: A zone around 2348.8 providing a major support level. Current Market Conditions: The price is currently testing the 1HR double top resistance. A rejection at this level could indicate a potential short position, while a clear break above could confirm a long position. Trading Strategy: Wait for Confirmation: Traders should wait for a clear rejection or break above the 1HR double top to determine the direction of their positions. Monitor Key Levels: Keep an eye on the support/resistance levels and liquidity zones to gauge potential price movements and market sentiment. Conclusion: Gold is at a critical juncture with significant patterns indicating possible major moves ahead. Traders should closely monitor the 1HR double top and key support/resistance levels to make informed trading decisions.
OANDA:XAUUSD
by Adlercon333
2
BCH → U-Turn and a bullish mood ↑BINANCE:BCHUSDT is trading within the boundaries of the uptrend. Potential is not exhausted. The market is forming a correction to the liquidity zone before a further bullrun to ATH Bulls are trying to hold the defense above the key support area, which divides the market into two planes. Fundamentally, the situation should be assessed relative to BTC and ETH. In general, everything is quite positive. Technically, on D1 we should pay attention to the support at 407 - 380. If the bulls hold this area and form consolidation of the price above 407-410, this fact may determine the medium-term potential for the market. A reversal pattern is forming against the lower trend boundary, indicating a bullish market sentiment. The market potential is 460 - 530. Resistance levels: 420, 460 Support levels: 407, 380, 351 The market is bullish and it is necessary to look for strong support zones to forge long positions. The focus is also on the resistance 460. A breakout and consolidation above this zone will be the reason for further consolidation to the upper boundary of the trend Rate, share your opinion and questions, let's discuss what's going on with ★BCHUSDT ;) Regards R. Linda!
Long
by RLinda
4
GBPJPY → Ahead of a rate hike in Japan...FX:GBPJPY intends to continue the current bearish rally. The price temporarily stops at the 197.00 zone for a short respite before falling further. The market is expecting an interest rate hike in Japan... Price breaks the bullish market structure and then confirms the bearish one, indicating a change in the global trend. Volatility is rising in Japanese markets, with the Bank of Japan expected to discuss a rate hike this week and consider a plan to halve government bond purchases. This is a strong scenario for the strengthening of the national currency, traders are reducing the number of short positions this time. Technically, the focus is on the level of 197.2, this zone splits the market into two zones. Accordingly, price consolidation below this level will be the starting point before the rally. Support levels: 195.8, 193.8, 191.8 Resistance levels: 197.2, 198.75 Both fundamentally and technically everything is steamed towards further decline. The actions of the Central Bank of Japan affect the rate quite strongly... Rate, share your opinion and questions, let's discuss what's going on with ★GBPJPY ;) Regards R. Linda!
Short
by RLinda
5
GOLD → Bulls hold the defense. Retest of resistance...FX:XAUUSD is strengthening from 2370 and testing the resistance of the actual local trend. Dollar in range ahead of news... Traders are waiting for Wednesday and the FOMC conference, where they may discuss atcual situation on inflation and monetary policy, as well as Fed Interest Rate Decision, where most likely the interest rate will remain at the same level, but may make a good hint on a soon decline.... Gold on D1 is consolidating above the support line, which generally determines the future prospects for us. Locally, the bulls hold the defense above 2370, forming further growth, within which they break the resistance of the local triangle, but the price is held back by the global descending channel. It is not excluded that the price may test 2377-2370 before further growth, but at the moment the focus is on the nearest resistance zone. Support levels: 2377, 2370 Resistance levels: 2391, 2400 Fundamentally, everything is quite positive for gold. Technically, the price is in consolidation, as traders are not ready to take serious actions early. But, all the attention is on the resistance, if the bulls manage to break 2390 and consolidate above, we will have a good chance to continue the growth. Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
16
XAUUSD - 2393 points breaking the trendGold declined near $2,380 per ounce on Tuesday, extending losses from the previous session, as investors look forward to upcoming policy meetings from major central banks this week. The Federal Reserve is anticipated to keep interest rates unchanged on Wednesday, but all eyes will be on any indications of a potential rate cut in September. Meanwhile, the Bank of Japan is expected to lift rates by 10 basis points to 0.1% Upper border breakout: 2393 - 2400 Lower border breakout: 2376 - 2370 Resistance: 2400 - 2407 - 2412 - 2418 Support: 2376 - 2367 - 2361 - 2353 Price ranges to note: SELL price range 2417 - 2419 stoploss 2422 BUY price range 2354 - 2352 stoploss 2348 Note: Full TP, SL to be safe and win the market. GOOD LUCK EVERYONE👍
OANDA:XAUUSDShort
by Scalper_Ananda
STORJ / USDT → Wedge breakout with trend change target BINANCE:STORJUSDT shows positive dynamics to the change of trend and the beginning of bullrun. The coin is moving to the phase of implementation of a pattern that can change the direction of the market. Bitcoin sets the general trend of the cryptvault market. The general fundamental background, which is formed around BTC and ETH sets positive prospects for other altcoins, which can still surprise us. Technically, STORJ is coming out of consolidation and is essentially entering the distribution phase. A false break of the key resistance is formed, which can be broken after the next retest. High probability of a small correction before a subsequent attempt to break through this zone and enter a new range of 0.500 - 0.900. Resistance levels: 0.4882, 0.6034 Support levels: 0.5 Fibo, 0.3530 The task of the bulls is to keep the defense above the key support, if it succeeds, the next target will be the breakout of resistance and bullrun. Regards R. Linda!
Long
by RLinda
1
GOLD → Retest resistance before a breakout. What's next?FX:XAUUSD has been strengthening since the opening of the session and is testing the 2400 zone. The market is getting bullish again, but at the same time it is at a strong resistance. The focus is on 2393.0. There is no news today and the overall situation is stable. Gold has no obvious reasons for a possible strong fall. Markets are waiting for the confirmation of the progression of US deflation with the subsequent hints on the soon reduction of interest rates. The fact itself is favorable for gold. Technically, the focus is on the edge of the range 2393. Consolidation of the price above this area may well influence further growth, but it is necessary to follow the descending resistance, because it will be difficult to pass this area from the first time. Resistance levels: 2400, 2430 Support levels: 2393, 2384, 2377 Technically and fundamentally everything is quite positive. We should expect a retest of resistance with subsequent growth, but it is not excluded that before the active recovery phase there may be a retest of support, for example: 2387, 2382 or 2377 Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
16
USDJPY → Weak dollar + intervention = bearish trend ↓FX:USDJPY breaks the 157.7 zone after a small consolidation. Powell's comments about more progressive deflation favor the market, the dollar is falling on this background and the end is not seen yet... Fundamentally, the weakening dollar and the ongoing interventions of the Central Bank of Japan have quite a strong impact on the exchange rate, but it is worth being careful. Previously, this market reaction was quickly bought out by traders who still have little faith in the continued strength of the JPY. Technically, if the dollar continues to liquidate, such a strong fall could bring the currency pair down to global lows. There is a strong liquidity zone ahead. Possible activation of orders in the risk zone, which may provoke a pullback before a further fall or a strong impulse, which without a pullback will knock out all market participants and the price will fly downward Resistance levels: 157.18, 157.7 Support levels: 154.5, 151.86 At the moment everything is obvious, fundamental and technical nuances are telling about further decline. We should pay attention to the nearest zone of liquidity and price reaction. Regards R. Linda!
Short
by RLinda
4
XRP → The moment before “to the moon” ↑BINANCE:XRPUSDT is the strongest of the market. As ETH & BTC fall, ripple is holding quite positively as traders are starting to believe in growth amid rumors... Ripple CEO recently said that he expects a legal resolution to the situation between the SEC and Ripple “very soon” Many are speculating that the SEC's closed-door meeting to finalize the case against Ripple could take place today - July 25. Against this backdrop: Trading volumes are rising, price is hitting local highs, whales are accumulating XRP Technically, it is worth paying attention to the 0.6378 - 0.5712 range. If breaking the resistance fails, the price may test liquidity below the support before subsequent growth. Resistance levels: 0.6378, 0.7440 Support levels: 0.5712, 0.5100 If the trial finds its denouement, it will give a second life to the coin. A break of the range resistance - 0.6378 will open a new path.... Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:XRPUSDT ;) Regards R. Linda!
Long
by RLinda
25
Gold's Next Explosive Move: Is a Massive Surge or Dramatic Drop?Major Support / Resistance Zone: This zone is marked clearly on the chart and acts as a significant level where price has previously reversed or consolidated. It's crucial to monitor how price reacts around this area. Wave Analysis: The chart shows a clear Elliott Wave structure, with a 5-wave pattern identified. Waves (1) to (5) represent the motive waves, and the correction waves are seen in between. Bearish Flag #1 and #2: These flags indicate periods of consolidation following a downward movement, suggesting potential for continuation to the downside. They are often characterized by lower highs and lower lows forming within a channel. Descending Channel: The descending channel provides a clear bearish structure, with price making lower highs and lower lows. This channel acts as a guide for potential price movement, indicating bearish sentiment as long as the price remains within this structure. Daily Bull Flag: This larger bullish flag formation suggests a longer-term bullish potential if price breaks above the flag's upper boundary. It's a key pattern to watch for potential upside. 1HR LQZ / Reversal Zone: This liquidity zone (LQZ) is marked as an area where a significant amount of orders might be present, potentially leading to reversals or significant price reactions. 4HR LQZ: Similar to the 1HR LQZ, but observed on the 4-hour timeframe, suggesting a more significant potential reversal or consolidation area. Bullish Potential: If the price breaks above the 1HR LQZ / Reversal Zone and the descending channel, there is a bullish potential up to the levels marked on the chart. The structure would need confirmation through higher highs and higher lows. Bearish Potential: If the price fails to break above the descending channel and instead moves below the 4HR LQZ, a bearish continuation is likely, potentially targeting lower support levels. Summary The chart indicates a potential for both bullish and bearish scenarios depending on how the price reacts to the identified key levels (major support/resistance zone, 1HR and 4HR LQZs, and the descending channel). Bullish scenario: Break above the 1HR LQZ and the descending channel, leading to a continuation towards higher levels. Bearish scenario: Failure to break above the descending channel and a move below the 4HR LQZ, indicating a continuation to the downside. This analysis should help in making informed trading decisions based on the observed technical patterns and key levels.
OANDA:XAUUSDLong
by Adlercon333
4
GOLD → There's a chance at the Bullrun. PCE ahead...FX:XAUUSD is testing local channel support and forming a rebound from the liquidity zone. Traders are waiting for PCE data. Favorable inflation data may provide strong support for gold. Traders are waiting for the PCE, any hints of lower inflation may be viewed quite positively, which will generally increase the chance of interest rate cut in September. As we know, low interest rates make gold more attractive. Technically, if we pay attention to the D1 chart, gold is testing a conglomeration of strong support: False break of MA-200 + trendline support, as well as bounce from 2350-2355 support level, which means the approximate area of intermediate bottom of the ranyke and forms a global range of 2485 - 2350. But, the fight for 2350 is not over yet. Resistance levels: 2377, 2392 Support levels: 2370, 2350 Let me remind you that news is unpredictable. Favorable data will influence the possible bull run, but unpredictable ones may provoke sales and price decline to 2350. But, at the moment of analysis, technical and fundamental nuances point to a bull market, there is a chance of growth to 2400-2430. Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
14