InvestingScope

InvestingScope

Injective is neutral on its 1D technical outlook (RSI = 54.838, MACD = 0.426, ADX = 17.060) as it is trading between the 1D MA200 and 1D MA50. The 1D MA200 is more important right now as it got hit today but the priced immediately pulled back. This is the 4th failed test (so far) it had since April and failure to overcome it, should technically result in a strong...

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EURCAD is bearish on its 1D technical outlook (RSI = 42.446, MACD = -0.001, ADX = 21.257) as it is trading on the 3rd straight red 1D candle and is approaching the bottom of the 10 week Channel Down. The are more probabilities now to see a bullish reversal aimed at the top, so we turn bullish (TP = 1.51.300). ## If you like our free content follow our profile to...

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USDJPY is almost overbought on its 1H technical outlook (RSI = 69.322, MACD = 0.160, ADX = 19.927) as the price is approaching the top (HH) of the 10 day Rising Wedge. A 74.00 RSI has been the most optimal sell signal during the three past highs to start shorting. Wait for the opportunity and target the 0.5 Fib at least (TP = 149.645) as it has been the minimum...

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Nasdaq is bullish on its 1D technical outlook (RSI = 60.111, MACD = 227.000, ADX = 44.293) and maintains a short-term Channel Up since September 12th. The price is currently under the Channel's median, which suggests it's a buy opportunity. We expect the next bullish wave to form a HH at the top of the Channel Up. Based on the previous bullish wave, we're...

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CHFJPY is on bullish 1D technicals (RSI = 59.579, MACD = 1.000, ADX = 53.750) but for the past 2 days have deen declining. This suggests that the top is has been priced and a technical pullback is to follow. The 1D MACD is on the verge of a Bearish Cross. All previous uptrend corrections hit or came close ot the 0.618 Fib. Consequently, we turn bearish on the...

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WTI Crude Oil is borderline neutral on its 1D technical outlook (RSI = 45.282, MACD = 0.240, ADX = 34.094) as it is consolidating just over the HL trendline and under the 4H MA200. This consolidation so close to a Support is technically a bottoming process. January-February 2023 exhibited similar behavior that caused the price to rebound towards the R1 level...

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Dow Jones is bullish on its 1D technical outlook (RSI = 63.922, MACD = 449.140, ADX = 44.993) as it recovered yesterday's losses but more importantly it is rebounding at the top of the former Channel up. Having broken over it 3 sessions ago, two short term patterns emerged a Rising Wedge (HH, HL) and a Channel Up. If the HH trendline is crossed, it will be the...

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EURUSD is almost oversold on its 1D technical outlook (RSI = 30.958, MACD = -0.004, ADX = 45.308) as it has been on a non-stop decline, which is even more effectively displayed on the 1H chart. You can see the flawless Channel Down making -0.90% Bearish Waves and then pulling back to the 0.5 Fibonacci only to get rejected again under the 1H MA100. This gives a...

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Gold is marginally bullish on its 1D technical outlook (RSI = 56.187, MACD = 0.002, ADX = 21.504) as it is consolidating and hasn't yet made a new High since September 26th. On the brightside however, it held again the 4H MA50, which establishes that level as the new support. When being on a Bullish Wave inside this 3 month Channel Up, every time it consolidated...

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Dogecoin just turned bullish today on its 1D technical outlook (RSI = 58.168, MACD = 0.002, ADX = 16.620) after its 1D RSI spent the first 2 weeks of October sideways, forming the bottom. This is a bottom similar with late Aug-Sep and during that time the 1D MA50 held six different 1D candles. The pattern is a Channel Up the past 10 weeks and today's candle has...

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AUDJPY is on excellent bullish levels on its 1D technical outlook (RSI = 60.728, MACD = 0.850, ADX = 48.315) which shows the steady bullish trend on the medium term but more importantly it just turned bullish on the 1W timeframe, showing the enourmous upside potential. And this is evident as the dominant pattern is a Channel Up since March 2020. The August low was...

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The U.S. Dollar Index is heavily bullish on its 1D technical outlook (RSI = 65.833, MACD = 0.380, ADX = 45.822) as it has been rising strongly since the Sep 27th Low, not over its 1D MA50. The price action is identical to the rebound that was initiated on December 28th 2023 and reached the 0.618 Fibonacci level only to get rejected there back to the 0.5 Fib....

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Bitcoin is having a strong pullback today, turning the 1D technical outlook bearish (RSI = 40.457, MACD = -31.100, ADX = 28.196). This is no cause for concern as long as the 1W MA50 holds. In addition, every October after a Halving event has been the start of the Cycle rally and interestingly enough the top has always been formed 13-14 months after! This indicates...

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Advanced Micro Devices may be having a noticeable correction that turned the stock back to neutral both on the 4H and 1D technical outlook (RSI = 54.728, MACD = 5.610, ADX = 40.223) but it just formed the strongest bullish pattern of all: a Golden Cross on the 4H chart. In the past 2 years we've been given another two 4H Golden Crosses and both turned out to be...

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DAX is bullish on its 1D technical outlook (RSI = 61.639, MACD = 2020.300, ADX = 35.161) but only neutral on 4H, indicating the significant upside potential it has. Right now the price found support on the 4H MA50 and is rebounding. This suggests the the previous correction is over, the bearish wave of the two month Channel Up bottomed near the 4H MA200 and the...

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WTI Crude Oil turned bullish again on its 1D technical outlook (RSI = 59.281, MACD = 0.570, ADX = 33.404) as even though it breached through the 1D MA50 yesterday intraday, it managed to close the day over it and extend today with a green candle. It was not ideal that the rejection on Tuesday took place on the 1D MA200 but yesterday's 1D MA50 rebound has restored...

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EURCHF is bearish on its 1D technical outlook (RSI = 42.451, MACD = -0.001, ADX = 26.515) as it's been failing to cross over the 1D MA50 and reverse the trend. Given that the long term pattern is still a Channel Down, this gives a new sell signal with the RSI suggesting we are running a similar below 1D MA50 sequence as August 2023. For the remainder of the year,...

InvestingScope

EURJPY is marginally bullish on its 1D technical outlook (RSI = 55.394, MACD = 0.690, ADX = 37.501), practically neutral as it's been ranging between the 1W MA50 and 1W MA100. The long term pattern is a Channel Up since 2021 and the recent 1W MA100 test is the new bottom (HL) of the pattern. The 1W MA50-100 consolidation is the bottom formation and even though...