EURCAD → A change in sentiment to bearish. MA-200 breakdownFX:EURCAD breaks trend support and spills to the downside as funds increase long positions on the Canadian dollar, whose rise is directly linked to the fall in DXY.
On D1, we see the currency pair returning to the range (1.5040 resistance) after a deep false breakdown. Accordingly, after the short-squeeze the market has potential - liquidity located at the bottom. Accordingly, in the nearest future the market may test 1.497, then 1.493.
BUT! On H4 there is a strong zone of 1.498 ahead. There is a high probability of a false breakdown and correction before a further fall, because below this zone there is a huge pool of liquidity, which will not let the price pass the first time.
Resistance levels: 1.506, 1.5085
Support levels: 1.498, 1.49
The 200&50 SMAs act as resistance, which indicates the current market sentiment. If the market is weak, a correction may not happen, bears may break the level quite quickly. In any case, it is worth watching the price reaction at 1.498
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Zigzag
BITCOIN → WHALES accumulate, BULLS aim for 70K ↑ BINANCE:BTCUSD has been consolidating since March, for half a year. Sooner or later the asset will move into the distribution phase. After the shakeout, the price returns to the channel and enters the consolidation phase, holding above 0.5 fibo.
The shakeout spurred by panic over bad data in the US market a few weeks ago is redeemed. False breakout leads to a rise to 62K, which defines the local range, forming a strong resistance and the beginning of a local correction. Within the correction, the price is testing 0.5 Fibo and the bulls are actively holding the price above this area, indicating that they are not ready to let the price go beyond this area yet.
So, the focus is on the consolidation of 62K - 56K.
How long will the price trade in this range? As long as it wants, until MM gathers the necessary potential
But, after support retest, false breakdown and liquidity capture, MM has another target - liquidity above 68K - 69K, therefore, we have a high probability to catch strengthening to the channel resistance (69K - 70K)
Support levels: 0.5 Fibo (56K), 53500
Resistance levels: 59700, 62500, 70K
A break of the local resistance may give an impulse to 62350. Next, we need to watch the price reaction at 62500. If the price will not pullback, but will start consolidating and squeezing, then we should wait for the breakout and growth to 70K
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FLOKIUSDT → Pre-breakout consolidation. 35% potential ↑BINANCE:FLOKIUSDT practically does not react to the manipulative fall of bitcoin. A breakthrough of the channel resistance and consolidation with the purpose of continuing growth is formed. It is worth paying attention to the zone of 16.00
The coin has been in an downtrend for a long time. But interesting preconditions are forming on H4. Floki lives separately from the market, consolidates above SMA 200 & 50 and continues to test 16.00 for a breakout. Bears are still trying to hold this zone, but their strength is running out. Volumes are rising as is the potential for a pre-breakout consolidation.
Resistance levels: 16.00, 21.00
Support levels: SMA, 14.056
Technically, the emphasis is on a resistance breakout. Consolidation may last for some more time. The structure will be broken if the price breaks the support at 14.056, but until that happens I am waiting for the realization and growth to 21.00
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GOLD → Consolidation in a bull market. Will we reach 2550?FX:XAUUSD is moving into a consolidation phase amid a strong bullish trend as buyers are waiting for catalysts for a new upswing. Buyers are still serious, and Central Banks of major economies continue to actively buy the metal.
Fears of a wider Middle East conflict, have eased, at the same time the US Dollar paused its overnight recovery. The corresponding reaction - flat, we observe on the chart of gold.
Further price direction appears to be northward, as it remains supported by the Fed's dovish sentiment on monetary policy and looming geopolitical risks in the Middle East. In addition, hopes of improved physical gold demand from India and China are likely to limit the decline in the gold price.
Resistance levels: 2517, 2531
Support levels: 2501, 2493, 2477
Technically, since the price is in a range and tested the resistance area earlier, the MM has a liquidity target at the bottom. Consequently, gold may test support (false breakdown) before heading towards resistance again. Emphasis on the channel boundary, 2501, 2493, 2477.
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ETHEREUM → Readiness for realization ↑ Target 3300 BINANCE:ETHUSD ETH is consolidating in front of strong resistance. Bulls do not let the price down beyond 0.5 fibo. amid Friday's news, the cryptocurrency market is reviving and ETH has high chances to pass through 2800.
A false breakout of the resistance of the range is formed, but instead of falling, the coin is consolidating, which is generally one of the pre-breakout nuances. Technically, it would be an ideal condition for me to wait for a prolonged consolidation near 2780-2800 followed by a price advance towards the zone with a breakout target. The liquidation that took place earlier rid the market of an unnecessary part of speculators, after which the whales went into an active accumulation phase, now ETH shows positive preconditions of readiness to go to the intermediate high and resistance of the global range.
Support levels: 2717, 0.5 fibo
Resistance levels: 2780, 2817
The market is bullish, as evidenced by some indicators, technical indicators on the chart, as well as the fundamental background. Accordingly, in the mid-term I expect the price to come out of the consolidation 2780 - 2550 and most likely this exit will be accompanied by a breakout of resistance and growth to 3300.
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IMXUSDT→ Exit from consolidation. One step away from the bullrunBINANCE:IMXUSDT exits the local consolidation and also breaks the resistance of the global trend, which can be regarded as a positive prerequisite for growth.
IMX is consolidating above the support at 1.386, formed in June. The area divides the market into 2 parts (long and short). Bulls are actively trying to keep the price above this zone, buyers' target is the area of 2.576. But before the rally MM can form a local long-squeeze, in which a false breakdown is possible (liquidity capture below the level) before further movement. It is also worth paying attention to MA-50, within the framework of the retest the market may test both sma and the previously broken wedge boundary before resuming the rally phase.
Support levels: 1.386, MA-50, 1.076
Resistance levels: 1.543, 1.784
Bitcoin is pressuring the market, which is forming a local correction, if the flagship starts moving up, it will strengthen the overall tone in IMX. But, if still bulls hold 1.385-1.400, breaking 1.520 resistance will give another chance for growth.
Regards R. Linda!
GOLD → Consolidation within a bullish trend. News ahead...FX:XAUUSD is forming a consolidation in the triangle format. Traders are in a stupor and are not ready to act prematurely before the news, but buyers are still quite aggressive
Fundamentally, today's focus is on initial jobless claims, we have seen a decline in unemployment lately, which generally indicates an improvement in the environment, analysts expect the same “warm” figures. But, the main focus for Friday is Powell's speech, where further policy, inflation and regulator's actions will be discussed. Most likely, the current course of the markets may be strengthened.
Technically, the emerging above sma traygolnik on H1 is a “continuation pattern”, higher probability of resistance breakout. But, the news may affect the market more drastically, before further recovery (manipulation).
Resistance levels: 2510, 2519, 2531
Support levels: 2498, 2488
Emphasis on resistance breakout, bulls are serious enough. But on the background of news MM can form liquidation (longsqueeze) before further growth.
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NZDUSD → Attempt to change the trend amid falling dollarFX:NZDUSD is strengthening from the opening session amid the dollar's return to southward movement. Traders are intensifying USD sell-offs amid expectations of interest rate cuts...
Despite the New Zealand Central Bank's interest rate cut, the USD sell-off is more active on the currency pair. The dollar is forming a retest of support, which increases the chances of further decline in the price amid strong sell-offs.
The currency pair is testing the resistance at 0.6083, but at the moment there is a high probability of correction to the imbalance zone. The reason is that we approached the zone too quickly, we need to accumulate the pre-breakout potential. But, if the bulls manage to consolidate above the resistance, then the market will move to the realization phase after the trend line breakout.
Resistance levels: 0.60828, 0.61475
Support levels: 0.6036
Fundamentally, the environment points to the continuation of growth. Technically, the bulls will have to pass through the trigger at 0.60828 to start the realization phase.
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EURUSD → ATH update, false breakdown, but there are nuances...FX:EURUSD continues to strengthen, updating the December 2023 ATH and forming a false breakout that could form a small correction before a possible rise.
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The key level is 1.1123, as well as the high of 1.1173.
The struggle for the lower level continues, bears are not letting the price up, expecting to capitalize on the correction before the news.
The focus is on Powell's speech, which will take place at 14:00 GMT. His tone, prerequisites and comments could set a strong medium-term backdrop for the markets.
Technically, 1.1075 has formed a pool of liquidity that could be of interest to MM. But we need to watch price behavior, a small correction and a retest of resistance or consolidation near the level will be a good signal that the bulls are ready to go higher.
Resistance levels: 1.1123, 1.1173
Support levels: 1.1047, 1.1009
The price is currently in the consolidation phase. The correction may start, but if the price turns to retest 1.1123, it is worth considering a breakout strategy and further growth.
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SOL → Accumulation in the bullish trend continues ↑BINANCE:SOLUSDT after the shakeout relative to resistance and triangle support continues to consolidate again on the background of the bullish trend.
The priority of the figure is the continuation of the current trend.
The strong fall due to fundamental reasons: the US unemployment rate, profit-taking and panic are quickly bought back, bringing the coin back into the range, which in general hints us at a strong bullish component of the market.
After a retest of 162.45 resistance, a correction is forming, 0.5 fibo may be tested, or trend support before further upside.
Emphasis on triangle resistance, a retest or pre-breakout consolidation may be formed before a breakout.
Support levels: 141.2, 136.7, 126.4
Resistance levels: 162.45, 188.32
Fundamentally, the menet has a good potential. Technically, the price is in a sideways movement, but against the background of a global bullish trend. After consolidation, a distribution is formed and our task is to understand in time when this distribution can start...
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KLAYUSDT → Transition from bearish to bullish trendBINANCE:KLAYUSDT is entering the distribution phase after exiting the accumulation. The price is resting at the range boundary, but there are prerequisites indicating a possible continuation of growth
Emphasis on the key level of 0.1600. I like the accumulation formed near the level. The key aspect, to forge a further scenario with the purpose of opening entry, I expect a retest or accumulation under the level, which will mean that the coin is ready to go even higher.
On W1 the coin is still in consolidation and is not going to bottom, on D1 the price is breaking the resistance of the wedge, a pattern capable of reversing trends.
Resistance levels: 0.1600
Support levels: 0.5, 0.7 fibo, 0.1246
Technically, such a rise may be followed by a correction either to the local lows on H1 or to the Fibo zone, but a quick retest will increase the chances of a breakout and growth. But, if the bulls manage to go beyond 0.160 and form a consolidation, the growth may start much earlier.
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PEPE → Pre-break consolidation and retest of MA-200BINANCE:PEPEUSDT is consolidating after a shakeout. Bulls are emphasizing the resistance at 0.00000827. On W1, the coin is consolidating above key support, which is a good sign amid the overall bullish trend.
PEPE is trading above trend support and is not going to go down yet. A decrease in volatility is forming - “consolidation” character of the movement. After retesting the resistance, the price returns to the level for another test, which only increases the chances of a breakout of the area. Consolidation of the price above this area may affect the breakout of MA-200, which will be a confirmation of the readiness to go up. Technically, the zone of interest is 0.00001088 and “ob” in the zone 0.000013.
Resistance levels: 0.00000827
Support levels: 0.000007615
We continue to follow the price. The trend is bullish and there are no preconditions that would lead to a trend change. Technically, I expect an attempt to break the upper boundary of consolidation and further growth to the specified targets.
Regards R. Linda!
BNX → The coin is stronger than the market. Bullish trendBINANCE:BNXUSDT looks quite strong relative to the entire cryptocurrency market, maintaining an already strong bullish trend. The price is forming a range and it is worth paying attention to its boundaries...
The situation is complicated by panic, bitcoin is unstable and thus creates unnecessary volatility in the whole market. The ideal outcome would be to stop the market and reduce volatility or consolidate so that action can be taken. But in fact BNX looks stronger than the market and this is worth taking into consideration.
The focus is on the strong 1.4252 - 1.2800 range. Because of the challenging technical environment, two scenarios are worth considering (but I like the resistance breakout the best)
If the bulls hold 1.2800 and start gradually approaching 1.4252, we should expect a breakout with further upside to 1.75 range resistance or even higher in the long term.
Support levels: 1.28, 1.1618
Resistance levels: 1.4252, 1.5161
However, if the bulls fail to hold 1.28 and the price breaks the support on the background of high market volatility, it may test 1.1618 - 1.0399 once again before further growth, as the uptrend is still in place
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GOLD → We're up to 2500. What's next, up or down?FX:XAUUSD is updating its historical high due to fundamental reasons. At the moment the market is struggling for 2500, at the same time the dollar is showing the prerequisites of readiness to go south.
Fundamentally, there is a lot of interest in gold for several reasons:
Crisis in the Middle East, expectations of Iranian action.
A shift in the policy dovish view of the economy by the Fed
Jackson Hole Symposium. Traders are quite positive, in anticipation of Powell's comments on the economy and their impact.
Technically, a strong bullish trend and the realization of accumulation is forming on D1. The price updates the high and closes Friday's session very promisingly (at the weekly and daily high)
A price consolidation above 2510 will be a good starting point to the next psychological levels.
Resistance levels: 2510, 2525, 2550
Support levels: 2495
Technically, the focus is on the 2510 - 2495 range. If a false breakout of resistance is formed, profit-taking or MM actions may provoke price decline to the imbalance zone before further growth. But, a confident consolidation of the price above the resistance may form an impulse to 2525.
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GBPUSD → Double bottom + false breakdown = reason for growth ↑FX:GBPUSD is changing its course to the north. Double bottom, false breakout, return in trend boundaries, support in the form of MA-200 & MA-50 is the reason to change the market mood and give confidence to speculators.
An interesting and promising picture is forming on D1. The price on the background of the retest is confidently consolidating above the previously broken resistance of the symmetrical triangle, which held the market within its boundaries for quite a long time. Against this background, hedge funds increased their longs in GBP to the maximum for 6 years
Technically, the focus is on the resistance at 1.2894. The primary retest may provoke a small rebound, but against the background of strong buying and weak dollar, the big buyer is still in the game, this fact may lead to the break of the key resistance and further growth to 1.30 - 1. 32
Resistance levels: 1.2894
Support levels: SMA, 1.2818
If the price is able to consolidate above 1.2894, we should expect further growth. But at the moment there is a high probability of a small correction before further growth.
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GOLD will rise by +300% in only 3 years! (Better than Bitcoin)I am pretty confident that GOLD will rise by +300% in price in only 3 years! Is gold a better investment than Bitcoin at this moment? Should you sell BTC and buy GOLD? Definitely yes, and I will tell you why!
Gold was in a sideways consolidation period from 2011 to 2024. And this year, in March 2024, the price finally made a strong breakout bullish candle on the monthly chart that changed everything! The big players have a lot of liquidity and then cannot move large amounts of money from one asset class to another with a single order. Also, for them, it's not best to buy all assets at the same time. In 2024, we see that big players are hugely interested in gold again, so this should be your main focus.
Why can Gold go 300% in 3 years and Bitcoin cannot? That would be around 210,000 USD per Bitcoin in 2027, and we know that this is impossible to happen as Bitcoin is statistically dropping every third year by 70% - 90%. Of course, big players are using this high volatility to buy cheap Bitcoin and to force retail investors to sell in a huge loss. They will do it again, as it's extremely profitable for them. Most likely, the price of Bitcoin in 2027 will be below 70k!
From a technical perspective, on the monthly chart we can see that the price of GOLD is inside this ascending parallel channel (since the year 2000). The probability of touching the top of the ascending channel is very high at this moment. From the Elliott Wave perspective, gold is starting an impulse wave (3)! Usually, waves 3 are the strongest! Another indication that huge news is coming for GOLD.
Let me know what you think about my analysis in the comment section, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
USDCAD → The currency pair is preparing to decline. Target 1.360FX:USDCAD for the last few days does not show any preconditions for a pullback or growth, forming a pre-breakdown consolidation relative to 1.372. The fall of the dollar can provoke a breakdown....
Technically, the price is returning to the range of 1.3755 - 1.3600. The bears are holding resistance, forming a descending triangle under the upper boundary of the range, which is generally a prerequisite for a fall. The only possible target in such a case could be the range support.
According to the survey conducted by BofA among investors, more and more traders are betting on the decline of the dollar. The general policy of the Fed is also putting pressure on the index. The currencies may go into a strengthening phase....
Resistance levels: 1.3755, 1.3787
Support levels: 1.372, 1.3655
Technically, the currency pair is forming a local downtrend, and the intermediate patterns play the role of triggers for the continuation of the movement. Accordingly, I continue to expect that the currency pair may decline to 1.36
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GOLD → Attempting to recover inside a new range FX:XAUUSD declines after the CPI report to the local liquidity zone of 2440, forming a new trading range. But, buyers come back and try to hold the psychological zone of 2450 again.
The bullish trend persists, gold is trading within the “Symmetrical Triangle” consolidation pattern
Traders await US retail sales data for fresh signals on Fed policy. Although the annual inflation rate in the US slowed down for the fourth consecutive month to 2.9%, but these CPI figures have raised fears that the US Fed will decide to cut interest rate heavily next month.
A weak US retail sales report could revive recession fears....
Technically, we should focus on the local levels inside the range of 2440 - 2477.
Resistance levels: 2458, 2467, 2477
Support levels: 2440, 2431, 2320
Technically buyers are trying to keep the price from falling, but all the emphasis is on the news, favorable fundamental data can provide strong support for gold, which can use the energy for another retest of 2477, but an unpredictable report can intensify the sell-off and bring the price to 2425.
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NOTCoin → Pullback after a false breakdown. When is it going up?BINANCE:NOTUSDT on the background of the rally ( together with TON ) strengthens and updates the maximum 0.0129, thus forming a retest of the wedge resistance. The attempt is unsuccessful, the reaction is a pullback to the liquidity zone.
Fundamentally interesting project in the medium and long term can still show good growth, but for this developers need to try. The prospects of Notcoin will depend on the innovations developed by the project, its marketing strategy and the state of the overall cryptocurrency market.
Technically, a false breakdown of the wedge resistance is forming amid bitcoin's decline. The price may test the liquidity area of 0.0105 and then a retest of the resistance may follow. I do not exclude the fact that the support may be broken without any corresponding reaction, in this case we will wait for a retest of trend support.
Resistance levels: 0.1294
Support levels: 0.01053, 0.00912
Accordingly, any breakout and consolidation of the price above the wedge resistance will be a strong signal for further rally. As long as the price has not left the range, it is worth considering trading inside this pattern.
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BITCOIN → Why didn't we go above 70K? The reason for the drop...BINANCE:BTCUSD has been in consolidation for 5 months. The price makes another retest of the 70K resistance, but due to several reasons failed to pass this area. A correction inside the FLAG is forming
From 70K resistance another correction to 64K has started. The reason for this is strong bullish sentiment after the US allowed bitcoin as a reserve asset. There is also a lot of attention to BTC because of the presidential race. Accordingly, the Market Maker eliminates the positive crowd (the price always goes against the crowd). And whales start buying the asset at cheaper prices.
On Friday, the NFP report and unemployment (up 4.0% to 4.3%) influenced the price drop. Rising unemployment + rising inflation had a negative impact on the markets. It is too early to buy, we should wait for the slowdown of the movement and stronger data.
Resistance levels: MA-50, 63250, 68570
Support levels: MA-200, 59300, 56500
Technically, the price is testing MA-200 and is squeezed above MA-50. If MA-200 fails to hold the price, bitcoin may go down to the lower boundary of the FLAG before a buyer can take over the situation. BUT, if the bulls hold MA-200 as support and manage to consolidate above 63300, a rise may be waiting. Overall, the fundamental background is very positive, but local economic data has a negative impact on the markets.
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EURUSD → Attempting to change the global trend.... FX:EURUSD after the retest of the trend resistance is forming a correction, which is correlated with the growth of the dollar index. By the nature of the movement, the currency pair is in the bull market phase....
False breakdown of the symmetrical triangle resistance. The fundamental background for the currency pair is relatively positive. The dollar will continue its decline in the future, which is favorable for the euro. In this case, after the end of the correction, it is possible to retest the resistance with the aim of breaking through and further change of the global trend from neutral to bullish.
Technically, the focus is on 1.0916 and 1.095. Breakout and price consolidation above this zone will be the beginning of further bullrun.
Support levels: 0.5 fibo, 1.087, 0.7 fibo, 0.79 fibo.
Resistance levels: 1.0916, 1. 095
Both technically and fundamentally, we have positive preconditions for the growth continuation. The correction may take a little longer, but it is worth paying attention to the key zones indicated on the chart.
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GOLD → ATH retest before CPI. What should we expect?FX:XAUUSD is defending the psychological level and support zone at 2450 and testing key resistance at 2477 for a breakout, ahead of 2483. All eyes are on key US CPI inflation data
Traders are still expecting a softer CPI report after a larger than expected decline in PPI data released yesterday. A softer CPI figure may confirm forecasts of an aggressive Fed rate cut, which will intensify the USD sell-off. This situation may trigger a northward movement in gold (strengthening the price)
In addition, the price of gold continues to find support in the geopolitical tensions in the Middle East, the situation is still heated to the limit.
Technically, the price continues to head towards 2477-2483. Retests of resistance for a breakout of the level continue.
Resistance levels: 2477, 2483, 2500
Support levels: 2458, 2450
On high news volatility, the price may form a quick breakout and rally or long-squeeze before rising further. BUT, unpredictable news may break the market structure, in which case the price may head beyond 2450.
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GOLD → Pullback from 2477. What's next? News ahead... FX:XAUUSD strengthens to an interim high and hits strong resistance at 2477.5. Gold is not ready to break the boundary yet and is forming a pullback ahead of the news - PPI to be released at 12:30 GMT.
Fundamentally, traders are still watching the situation in the Middle East as there are rumors of different nature every day. If the conflict escalates, it will only increase the interest in the metal.
Also, traders are waiting for PPI (one of the key inflation reports) as well as CPI (to be published on Wednesday) to determine if the US Federal Reserve is preparing a significant interest rate hike after the weak employment report.
Technically, 2477 and 2458 are worth watching. If price starts to return to resistance and consolidate near the level, then a breakout is worth waiting for. But a break of support at 2458 will send the price down to the zone of interest before a possible rise.
Resistance levels: 2477, 2483
Support levels: 2458, 2450, 2439
Key focus on news and market fundamentals that could set a medium-term tone for the dollar and gold. But, technically gold is strongly bullish...
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