Wave Analysis
DXY Is Bullish! Long!
Please, check our technical outlook for DXY.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 104.214.
The above observations make me that the market will inevitably achieve 104.676 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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GOLD Is Very Bullish! Buy!
Here is our detailed technical review for GOLD.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 2,730.973.
Taking into consideration the structure & trend analysis, I believe that the market will reach 2,782.993 level soon.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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GBPUSD Is Going Up! Long!
Take a look at our analysis for GBPUSD.
Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 1.296.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.306 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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ATH UPDATEyes, we have come deeper than expected. however, we maintain important fibbonnaci projection levels. What we really want to see now is that impulsive movement upwards. so that we can look upwards. Again, no good entry position found here.
the volume on the buy side remains good, however, the lack of a clear divergence worries me a bit. I first expect some down moment that will hopefully translate into maintaining the support level
EURJPY Will Grow! Buy!
Please, check our technical outlook for EURJPY.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 165.018.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 167.407 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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Market overviewWHAT HAPPENED?
Last week, as expected, we broke through the sloping line and started a downward movement. Only the strong volume zone of $66,000-$65,100 (volume reaction), which we noted, could stop it. After receiving a reaction from the buyer, bitcoin was trading sideways for the rest of the week.
WHAT WILL HAPPEN: OR NOT?
At the moment, we’re above the formed zone of maximum volumes of $67,500-$66,800. There is a high probability of testing the levels formed above.
The cumulative delta is also on the side of the "bulls", the same pattern of absorption of market sells by limit orders is noticed. We consider changing the scenario to a downward one only with a true breakdown of the local minimum of $65,250.
Buy zones: $67,500-$66,800 (maximum volume of the sideways range), $63,100-$62,500 (mirrored volume zone), $60,000-$59,000 (buyer activity), $55,000-$53,800 (volume zone), $57,000-$56,400 (volume zone).
Sell zones: $70,000 level (seller market activity), $72,000 level (seller market activity).
IMPORTANT DATES
• Tuesday, October 29, 14:00 (UTC) — publication of the US consumer confidence index for October and the number of open vacancies in the US JOLTS labor market for September;
• Wednesday, October 30, 9:00 (UTC) — German GDP publication;
• Wednesday, October 30, 9:30 (UTC) — press conference of the Swiss National Bank;
• Wednesday, October 30, 10:00 (UTC) — the UK autumn budget forecast;
• Wednesday, October 30, 12:15 (UTC) — publication of changes in the number of people employed in the non-agricultural sector from the US ADP for October;
• Wednesday, October 30, 12:30 (UTC) — publication of US GDP for the 3rd quarter;
• Wednesday, October 30, 13:00 (UTC) — publication of the German consumer price index for October;
• Thursday, October 31, 1:30 (UTC) — publication of the index of business activity in the Chinese manufacturing sector for October;
• Thursday, October 31, 3:00 (UTC) — announcement of Japan's interest rate decision;
• Thursday, October 31, 10:00 (UTC) — publication of the consumer price index in the Eurozone for 2024;
• Thursday, October 31, 12:30 (UTC) — publication of the basic price index of US personal consumption expenditures for September and 2024, as well as the number of initial applications for US unemployment benefits;
• Friday, November 1, 12:30 (UTC) — publication of average hourly wages, changes in the number of people employed in the non-agricultural sector and the US unemployment rate for October;
• Friday, November 1, 14:00 (UTC) — publication of the index of business activity in the manufacturing sector from the US ISM for October;
• Friday, November 1, 14:45 (UTC) — publication of the index of business activity in the US manufacturing sector for October.
*This post is not a financial recommendation. Make decisions based on your own experience.
TONUSDT: Why TONCOIN Remains Bullish and Its Next Potential MoveTONNCOIN is forming a falling wedge on Daily timeframe , Up we go if we do breakout. the price can be bullish and I expect the price to go up to the Fibonacci line of 0.618 = $6 Stay tuned for more updates, thanks.
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⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
LTCI'm a LTC holder and 've been charting it for a while. This is a yet another count where i presume that we finished a wave 2 in a higher degree. What i like to see now is a wave up and finding support arround de 68 - 71 dollar level.
Yet the isn't any impulse move up to be spotted, even more for now we can count 3 wave"s, in a minor degree and that aint good. finding support on the GP is crucial for LTC continuation to the nord.
Yes i'm a red zone on average entry :)
CryptoMarket 📍 #CryptoMarket Quick Update
As previously mentioned, several factors could trigger a #BlackSwan event before the US elections, causing an average 35% drop across #altcoins💥. Large caps might decline 25-35%, while low caps could see drops of 40-60%. This could be a last shakeout before a real #Altseason begins. Stay ready and don't get scared!💪
USOIL BULLS ARE STRONG HERE|LONG
Hello, Friends!
It makes sense for us to go long on USOIL right now from the support line below with the target of 71.76 because of the confluence of the two strong factors which are the general uptrend on the previous 1W candle and the oversold situation on the lower TF determined by it’s proximity to the lower BB band.
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GBP/NZD SHORT FROM RESISTANCE
Hello, Friends!
Previous week’s green candle means that for us the GBP/NZD pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 2.160.
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DOT May Rise Further After Breaking Through $4.14DOT May Rise Further After Breaking Through $4.14
The price broke out from a "contracting triangle" pattern, indicating further upward movement.
This morning, after breaking out from another small structure, DOT is rising further and could potentially reach the top of the structure again near $4.50.
The price may face strong resistance near $4.24, which could push it down for a small correction before it rises again.
You may find more details in the chart!
Thank you and Good Luck!
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EUR/NZD BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
EUR-NZD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 1.801 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the EUR/NZD pair.
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GER30 (DAX) Possible SELL Based on Daily TF, the market seems to be forming a possible reversal chart pattern.
We could see Sellers coming in strong should the current level hold.
Disclaimer:
Please be advised that the information presented on TradingView is solely intended for educational and informational purposes only.The analysis provided is based on my own view of the market. Please be reminded that you are solely responsible for the trading decisions on your account.
High-Risk Warning
Trading in foreign exchange on margin entails high risk and is not suitable for all investors. Past performance does not guarantee future results. In this case, the high degree of leverage can act both against you and in your favor.
EUR/AUD SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
EUR/AUD pair is in the uptrend because previous week’s candle is green, while the price is clearly rising on the 1H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 1.633 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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USDJPY todayUSDJPY is currently trending upward, driven by several key factors:
Interest Rate Differential: The Federal Reserve’s higher interest rates make the USD more appealing to investors, especially as the Bank of Japan (BoJ) maintains near-zero rates. This rate difference is a fundamental reason for the yen’s weakness against the dollar.
Strong U.S. Economy: Robust economic data from the U.S., particularly in employment and growth, bolsters the dollar. In contrast, Japan’s slower growth adds further momentum to USDJPY’s upward movement.
Safe-Haven Demand: Geopolitical tensions have led investors to favor the USD over the yen as a safe-haven asset, pushing USDJPY higher.
These factors collectively support the bullish trend in USDJPY.
Tesla on its way to 500NASDAQ:TSLA
Telsa finally entered in the strongest Elliot Wave there is: iii of 3 of (3) ..... almost nothing can stop the stock now (!)
Additional weekly 3 candle pattern made a "Mornign Doji Star" , also a very bullish occurence: normally we see a trend change in 78% of times and according to Bulkowski - And the height of the pattern was huge - So expect a very strong coming Rally ..... last week was only the Start!
Also in weekly Candle pattern we can see a Bullish Engulfing - Strong down after 10/10 Event and this week a rise of 27% - This is a very seldom strong Bullish Engulfing and we can expect many weeks of rise into Year End in my opinion!
Friday we went over the Neckline of the INVERSE HEAD&SHOULDER - The target points to 500, which gives us a new ALLTIME HIGH (!)
And if Elons prediction of 25% to 30% growth will Happen next year, Profit will increase by 50% ….. WHICH GIVES THE TESLA STOCK A RISE OF MINIMUM 100% next year (!)
USOIL BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
We are now examining the USOIL pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 68.29 level.
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