DNP-FX

DNP-FX

The GBPAUD pair shows signs of a significant trend shift after successfully breaking out of a long-term resistance trendline formed since 2001. Based on trendline analysis, the price consistently experienced pullbacks whenever it touched the resistance line. This pattern is illustrated on the chart with blue arrows indicating previous pullback areas. In the most...

DNP-FX

XRP has formed a bullish pennant pattern on the H4 timeframe, indicating the potential continuation of the bullish trend. This bullish pennant pattern is not the first occurrence for XRP; in two previous instances, XRP displayed a similar pattern, each followed by an upward breakout. After the breakout, the price experienced a significant rally, establishing the...

DNP-FX

On the H4 timeframe, USOIL has breakout above a wedge pattern, signaling a potential shift toward bullish momentum. The breakout is visually projected using an orange-colored box, highlighting the zone where the price successfully moved above the wedge's upper boundary. This breakout indicates an increase in buying pressure, suggesting that the price may trend...

DNP-FX

This analysis focuses on COINBASE:ETHUSD price movement in the daily chart, highlighting a strong bullish trendline pattern. Currently, Ethereum's price is forming higher lows, indicating strength in the ongoing upward trend. The price is approaching the trendline, signaling a potential rebound that opens up bullish opportunities. If the price successfully...

DNP-FX

On the daily chart of GBP/CAD, I’ve identified a Rising Wedge pattern with a Double Top formation within it, signaling a strong potential for a significant bearish movement. A similar pattern previously occurred on September 9, 2023, when a bearish breakout from the Rising Wedge was confirmed by a double top, followed by a sharp downtrend. Currently, the same...

DNP-FX

The Descending Broadening Wedge pattern has unique characteristics compared to the Falling Wedge or Flag patterns. While the Falling Wedge and Flag patterns feature converging lines that taper to a point, the Descending Broadening Wedge widens from left to right, indicating increasing market volatility over time. This pattern forms when the price moves within an...

DNP-FX

As of the current price of 1.104, the EUR/USD pair continues to exhibit a long-term bearish trend dating back to 2008. The historical chart reveals a clear pattern of price fluctuations within a defined range, oscillating between established support and resistance levels. Currently, the price is approaching a significant resistance zone. This resistance level...

DNP-FX

Trendlines are a fundamental concept in technical analysis, used to identify and confirm the direction of a trend. They are drawn by connecting a series of price points to highlight the prevailing direction of the market, whether it be upward, downward, or sideways. A trendline acting as support is a line drawn below the price action, connecting two or more...

DNP-FX

A trendline is a straight line that connects multiple price points on a chart, typically the highs or lows, to show the general direction of the market. When a trendline is established, it acts as a guide, helping traders predict future price movements. The price often bounces off the trendline repeatedly, similar to a pattern in statistical probability where...

DNP-FX

The release of core inflation rate data in the United States can impact the AUD/USD exchange rate, especially on a weekly timeframe, due to its influence on market sentiment and monetary policy expectations. Firstly, let's break down the core inflation rate. Core inflation measures the change in the price of goods and services, excluding volatile items like food...

DNP-FX

Currently, the price of Bitcoin shows a promising opportunity to surge by bouncing above the trendline, approximately at the price of $58,800. This potential increase is backed by optimistic sentiment stemming from the Bitcoin halving and approval of Bitcoin exchange-traded funds (ETFs). However, there's a downside risk if a breakout occurs, potentially leading to...

DNP-FX

In technical analysis, a trendline is like a road that the price of a stock, currency, or other asset follows. Imagine it as a path where the price keeps bouncing up and down. This bouncing happens because of statistical probability – just like how certain things tend to happen again and again. However, that these bounces aren't always successful. Sometimes, the...

DNP-FX

The outlook for CADJPY is bullish. Price is forming an ascending triangle and is currently trading near resistance. There are three possible outcomes for CADJPY: Price breakout to the upside. This is the most likely scenario, as the price is forming an ascending triangle and is currently trading near resistance. Price bounces off of support and continues to...

DNP-FX

USOIL prices have been on an upward trend in recent weeks, driven by supply concerns and geopolitical tensions in the Middle East. The price has approached a key resistance trendline area, where a breakout or pullback could occur. If the price breaks above the resistance trendline area, it could signal a continuation of the uptrend, with potential targets at...

DNP-FX

XAGUSD is currently trading within an ascending triangle pattern. The resistance level of the ascending triangle has acted as a pullback area four times. The price is currently at the resistance level of the ascending triangle, therefore there is a possibility that a fifth pullback will occur. Ascending triangle pattern has a bullish bias, so there is a...

DNP-FX

USDZAR on the daily timeframe presents an intriguing technical setup characterized by the formation of an ascending triangle pattern. An ascending triangle typically indicates a bullish bias in the market sentiment. Consequently, there are two potential scenarios to consider. Firstly, the price action may encounter support around the lower boundary of the...

DNP-FX

GBPUSD pair analyzed on a monthly timeframe, exhibits a notable approaching trendline resistance. This indicates a potential upcoming pullback, favorable for long-term positions. The projected bearish trajectory suggests a target level reaching down to the psychological barrier at 1.1800. Anticipated price action signals a likelihood of descending below the...

DNP-FX

NZDJPY on the daily timeframe indicates a potential bearish trend. The price has recently breached below the trendline support, signaling a probable breakout. This breach suggests a weakening of buying pressure and a potential shift towards selling momentum. As per this analysis, the target for the bearish movement is anticipated to extend towards the...