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Weeklyforecast

Bitcoin: Weekly Forecast 20210530Bitcoin continues to face selling pressure throughout the week and volatility has shrunk to an all-time low. As much as bitcoin is heavily discounted, conviction to buy bitcoin remains in a slumber amid heavy criticism from big crypto influencers such as Elon Musk and the constant crackdown of crypto mining in China. The crypto market is expected to remain range-bound for a good few months with a higher probability of slipping even lower. There will be, however, some buyers trying to buy the low at this point and the price may get a temporary rebound. This week, we will continue to look for selling opportunities, firstly at 38600, followed by 41000.
BITSTAMP:BTCUSDShort
by AlgoVenture
WTI: Weekly Forecast 20210530Oil prices continued to stay uplifted amid rising commodity prices due to fast-rising inflation despite a recent selloff in March. The consolidation phrase seems to be ending as a breakout of a symmetrical triangle that occurred last week and the week ended with the price closing above the consolidation structure. Besides, the entire consolidation which has now reached 3 months came after a major breakout of a 13-year falling trendline, thus we can expect more bulls to come, both technically and fundamentally. This week, we expect the market to break me which but not excluding a possible pullback at the beginning of the week. If the price drops first, we can look to buy at 66 - 65.4 region. And should the price go ahead and break higher, simply wait for a pullback towards the breakout level to buy again.
TVC:USOILLong
by AlgoVenture
3
Nasdaq: Weekly Forecast 20210530The US market continued to recover from a major pullback in early May, resulting in another monthly gain except for Nasdaq. However, recovery has slowed down over last week and the bulls seem to has become sluggish but the same goes for the bear as we don't see any significant attempt in the market to sell. The stock market is somewhat expected to rise amid heavy government spending but will also continue to face challenges of rising inflation. This week, we plan to attempt going short if Nasdaq continued to stay resisted at 13700. Otherwise, the main plan is still to buy as the price pulls back with prices such as 13400, and 12800 should it breaks a new low.
U
by AlgoVenture
Gold: Weekly Forecast 20210530Gold was pretty much as bullish as expected, resulting in the biggest monthly gain in 10 months. The gold continued to prove its value in times of uncertainty and rising inflation, coupled with falling asset prices, causing higher demand for the safe-haven assets. We continue to see the gold pushing higher towards 1950 before any strong selling may occur. This week, we shall continue to look for buying opportunities. Should the price pulls back at first, we can look to buy at 1880, followed by 1863.
FX_IDC:XAUUSDLong
by AlgoVenture
EURUSD: Weekly Forecast 20210530EURUSD posted another weekly gain but leaving a long upper shadow for the 2nd time as it continued to face resistance. Although EURUSD has been constantly trading higher, the weight has started to shift towards overbought. The dollar might gain more demand amid falling asset prices which may cause a temporary pullback on EURUSD's current bullish trend. This week, we will attempt to sell within the current supply zone and probably add on to our short positions, if any, as it starts to breaks below the rising channel.
Short
by AlgoVenture
3
Gold: Weekly ForecastGold fell into a range last week after creating a new high at 1845. Although resistance at the 200++ moving average did create a reversal candlestick formation, the price found support and quickly parred all losses in the week. Gold is now at a critical juncture as the last line of defense (200++ MA) before a potential parabolic bull run. Given the current fundamentals, the US is at risk of hyperinflation since the last inflation data was released and that's what drives gold prices. So we now have both technical and fundamental showing us a bullish gold market, not forgetting to mention that the dollar will continue to depreciate further due to the unprecedented money supply caused by the Fed. Price of Interest: Resistance - 1856 (equilibrium), 1950 (7-month supply zone) Support - 1820 (bottom of channel), 1750 (neckline)
FX_IDC:XAUUSDLong
by AlgoVenture
EURUSD: Weekly ForecastEURUSD was range-bound last week and the price has returned to where it began. While the 4-month resistance at 1.2170 has continued to reject the bulls, selling pressure is seen diminishing as higher lows were created, forming a rising channel. EURUSD has turned bullish since the beginning of April 2021 after taking a sharp reversal at the bottom of a 1-year rising channel As such, we will maintain a bullish stance and continue to look for buying opportunities. Price of Interest: Resistance - 1.2170 (4-months), 1.2250 (supply zone) Support - 1.2090 (bottom of channel), 1.1980 (equilibrium)
Long
by AlgoVenture
AUDUSD: Weekly ForecastThe Aussie will be highly watched this week as RBA releases its monetary policy as well as employment data. AUDUSD was somewhat bearish last week as it fell but found support and recovered half of the loss. The rebound came from multiple technical support such as the bottom of a rising channel as well as moving averages. Otherwise, AUDUSD is technically a bullish pair for more than a year now and climbing very much like the US stock indices. That's mostly contributed by rising inflation which causes commodity prices to go up and Aussie, as most should already know, is a commodity currency. While we can continue to look for buying opportunities near the support, the upside is limited as the market is about to reach the equilibrium level slightly above 0.80. Price of interest: Resistance: 0.7890, 0.8080 (equilibrium) Support: 0.7730 (bottom of channel), 0.7690 (equilibrium)
Long
by AlgoVenture
13
SPX's weekly up date . Third week of May 2021.- P/E : @ 45 .54 . Third highest reading since "1875"!!! Tops land. 2% from becoming the 2ed since 1875 . " Usually bottom of crashes not tops". I guess P/E is becoming "Irrelevant" to investors with M2 getting fatter ;-) . - SPX's Dividend Yield: @ 1.37 Possible target is 1.10 2000's bottom !!! US10Y @ 1.63 "consolidation Mood !!" -Historically 10y note has a side way movement relative to SPX in May. - Insiders: 205 Sell, 65 Buy nothing Out of the usual. - Seasonality: May Max 5.3 % Min (-8.1%) past 20 Years. With Q2 of post presidential election, since 1950, gain of 5% (already 3.5 % in the first 10 days LoL !!! - Deviation : Daily - @12.83 % (64 % single pullback) weekly - @40.97 % (46% single pullback/54 % double pullback !!!) Weekly is in favor of a pullback with 54 % chance. - Candles Auto recognition : Bearish Long upper shadow is our last 36 % success rate. Monthly Nothing 7 months for monthly. - Putt/Call composite @.702 Still holding Higher Highs/Higher low. Golden Cross "Achieved !!!". -Total Option Volume: 478888 keep hitting this resistance again and again. - VIX : In our safe green zone, we hit 18 " We spiked above our green safe zone but we tracked back within days'. - VWAP: @ 67.5 = No man's land, closer to troughs and up swings.. - DIX : 42% No man's land . - GEX : @ 7 M. 55% tops land, 35 % up swing 10% false signal. - SPX : Above averages . Nothing here to mention. - NYSE: Above average : 50D broke 50 line down then up signaling bottom has been achieved. Will it go back down ? not good at all to break down the 50 line. -------------------------------------------------------------------------- Key for this week : 1/ Golden Cross on PC. 2/ Higher Deviation on weekly favoring 54 % double pullback. 3/ NYSE 50D broke 50 line then bounced back keep an eye on this if it break below 50 again.
SP:SPX
by samitrading
Weekly-Montly GBP/USD chart analysis It is proven that history often repeats itself on every aspects As we can see at the GBP/USD Chart, in 17th Apr 2018 GBP reach its peak at 1.43767 and start falling deep afterward the trend as we can see right now is still Bearish and if it continues, the chart might go down to 1.29514 I put Resistance and Support line on the chart for more confirmation before entering the market and if it falls below the Support line, the chart would strongly continues the Bearish trend really deep If the market goes above the Resistance Line, it would the new Bullish trend with unknown strength
Long
by Hiraga_Sakoto
BTC to 6 Digits!Here is my strategy: First of all, since the last pullback in early January, Volume has been decreasing even though we saw higher highs almost every week. I think this situation calls for a bigger correction than we have been seeing in the past two weeks. The last structural level that is under the recent low price ($47k) is $41.986 indicated by the yellow line. It was the resistance in early January, now serves as a hard support level. 0.382 and 0.5 FIB Retracement levels are around that support level as well. I expect next week's candle to touch or close in the red box and start its bull run again. Finally, I define my target price based on the FIB Extension of Jan -> ATH -> Expected Dip levels. Feel free to share your weekly BTC chart analysis in the comments. Not investment advice.
COINBASE:BTCUSDLong
by Sam37
LITUSDT is ranging between weekly structuresLITUSDT is ranging between weekly structures and the price is creating a very nice triangle. IF the price will have a breakout upward, According to Plancton's strategy (check our Academy), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
LLong
by InkyGrip
1
Bitcoin. Explosive move ahead? Hello Everyone, Bitcoin is starting to look more promising as my previous analysis have shown some weakness with price action and waning selling momentum. If we close above $60,000 this week, I do believe we will continue higher. Here are my technicals: 1. Weekly volume is starting to increase as price increases. This is confident bullish price action. 2. $60,000 held as a support line on our daily and it appears to be mostly wick which implies a buy-up or accumulation. 3. Weekly RSI has some room to grow before we hit the top of the trendline. 4. Daily Inverted Head and shoulders is very clear with the several closes above the $60,000 neckline. So I would like to see some things happen before we end this week. Obviously the most important would be holding the $60,000 support line. I believe closing above this once massive resistance, will provide a major support area in which accumulation will occur. I also would like to see any small drops near $60,000 be bought quickly with volume. This indicates investor interest and more accumulation. My targets are anywhere between $68,000 to $78,000 it just depends on what my indicators and gut are telling me. As always, manage your risk, be patient, and good luck trading.
COINBASE:BTCUSDLong
by RomanXIV
SPX's weekly update. 2ed week of April 2021- P/E : @ 40 .93 .Third highest reading since "1875"!!! Tops land. " Usually bottom of crashes not tops". - SPX's Dividend Yield: @ 1.45 Possible target is 1.10 2000's bottom !!! US10Y @ 1.666 historically 10y note underperforming SPX in April & it has a sideway movements in April as well. - Insiders: 6 Sell, 2 Buy. No up date on the website, still April 1st reading !!! - Seasonality: April is the best month of the past 20 years & 2ed past 10Y. Max 12.5% Min (-6.1%) with Q2 of post presidential election, since 1950, gain of 5% (already 3.5 % in the firs 10 days LoL !!! - Deviation : Daily - @15.37 % (80 % single pullback) weekly - @39.06% (76% single pullback) and at the edge of a 54% double digits pullback. - Candles Auto recognition : White Marubozu 84 % bullish move NEXT. Nothing 7 months for monthly. - Putt/Call composite @.600 Vs. .597Vs. last week = Still holding Higher Highs/Higher low. Kind of bouncing from 50d MA. Golden Cross looming -Total Option Volume: 478329 Vs. 378667 big increase 25% up from last week. - VIX : In our safe green zone, we hit 16.69 Vs. 17. 40 last week Lowest seen # since last years crash + Closed 2020's "GAP" - VWAP: @ 58.30 = No man's land, closer to up swing.. - DIX : 44% No man's land closer to a bottom or up swing. - GEX : @ 22,999,000,000. 55% tops land, 35 % up swing 10% false signal. (HIGHEST READING IN 2Y) - SPX : Above averages . We are getting 3 of them in the 90s very rare bullishness move here. !!!! - NYSE: Above average nothing to mention. -------------------------------------------------------------------------- Key for this week : 1/ Bullish Barubozu Candle 84% success rate. 2/ Higher Deviation = Higher probability of a pullback. 3/ GEX is the highest in 2 years !!!
SP:SPX
by samitrading