BTC.D Weekly View Bounced of a major support but is still weak as long as it trades below 52. Currently in a bear flag formation and will eventually target 25.25. However if it manages to climb above 52 and holds that region then we are likely to head towards 58 initially followed by 61-63 region. For alts to perform Dominance needs to break further.
USD/CHF continues to trade within an ascending channel. Intraday bias is bullish and as long as 0.9214 support holds, the further upside can be witnessed. A break of 0.9360 will solidify the upside bias and we can see it move to the resistance at 0.9470. However, a break of 0.9214 will drag the pair down to the support level of 0.9000
As mentioned on our previous idea regarding DXY , it seems to have taken support from 93.60 area and is currently sustaining around 94.0. For traders who have a good risk tolerance, an attempt to go long can be made here with a stop-loss of 93.60 which also happens to be the low of the day.
Bullish Indicators: 1) Bounced from the upward trendline 2) Support zone at 1.86056 3) Bullish engulfing Bearish Indicators: 1) Descending trendline 2) Resistance at 1.87723 Plan A: One can buy from here for the target of 1.88459 Plan B: On the breaking of upward trendline one can sell for the target of 1.85340 where the major support lies.
Bullish Indicators: 1) Bounced from the upward trendline 2) Support zone 3) Followed by the three white soldiers 4) 78.6% Fib Retracement level Bearish Indicators: 1) Descending trendline 2) Resistance at 0.87890 Plan A: On the breaking of resistance level 0.87890 and downward trendline one can buy for the target 0.88535. Plan B: On the breaking of upward...
UK100 is currently consolidating at what seems like the apex of a converging triangle. A breakout towards the upside seems imminent. Other confluences that compliment the move to the upside are trendline support and 38% Fib Level. On the flip side if it fails to break above then it can drop towards 6900.
Consolidating in a converging triangle and seems ready for another bullish rally. Price needs to break above the falling channel to trigger a breakout towards 9.40-10.45 initially followed by 11.90. However breaking this would open new All Time Highs for this coin. Downside should be limited around 6.30-6.15
ADA witnessed aggressive profit taking after touching the $3 mark which also happens to be a psychological level. After a corrective phase which happens to resemble a converging triangle it now looks ready for the next impulse upwards. An hourly closing above 2.35 would invite bulls to take charge again to take price up to 2.80 and 3.00 initially. On the...
USDJPY has recently touched the channel top after a strong and extended impulse upwards. It is currently consolidating around the 111.000 area. Expectational orderflow is towards the downside, a wise choice would be to enter after a break and retest of this level.
The GBPUSD dropped from the 1.36397 level yesterday. Two possible scenarios can come into play now, If it breaks this resistance area of 1.36000 (Previously a strong support) and sustain this level then it can further move towards 1.37000, But on the flip side confluence of Trendline, resistance zone and Fib 0.38% level can drag it down to 1.35500 where bulls...
NASDAQ is currently trading at an attractive level (14,500) with the confluence of a major support area and an Ascending Trendline. A break below this level will drag it further down towards 14,100 where a stronger bullish set-up awaits.
The month of October started off with a strong bearish move for DXY as it rebounded from a strong resistance level (94.50). Further downside seems likely with the exception of 93.50 where a small reaction can be expected. We are rooting for bullish XXXUSD pairs in the coming days, let us know what you think in the comments below.
Bullish indicators: 1) Trading near major support area of 1.46100 2) Bullish Harami candle 3) Falling wedge Bearish Indicators: 1) LL LH 2) Currently trading in downward trend Plan A: On the bounce from the support area one can buy for the target 1.47733 first and then for the 1.48075. Plan B: On the breaking of trendline and support one can sell for the...
Cake after giving a decent run from 10ish zone to 26 has been moving in a sideway sort of price action and now looks ready for a continuation of uptrend. It has been trading just below its falling resistance which in my view is likely to be challenged and breached soon. Price breaking above 20.55 would be a bullish signal for a breakout towards 22.50 and 26...
Bullish indicators: 1) Trading near Support at 1.07492 2) Fib retracement level 78.60% 3) Falling wedge Bearish Indicators: 1) LL LH 2) Currently trading in downward trend Plan A: On the bounce from the support area one can buy for the target 1.08320 first and then towards 1.80620. Plan B: On the breaking of trendline one can sell for the target of 1.06983...
SNX trading in a ascending channel and is likely to move towards North once it starts to sustains above 11.80. Next established targets would be around 13.65 followed by 16.80 and channel top around 17.40. SNX needs to trade above 9.30 in order to keep this idea validated.
NZDUSD has broken the bearish trendline and is currently consolidating near a critical area which also happens to be the 61.8% Fib Level. Potential upside can be witnessed if this level sustains. On the flip side if it falls it might retest the trendline again at 0.69000 level.
Structuring a double top sort of situation on 4-H chart. Stuck between major zones on the upside followed by strong supports on downside. On upside 3465-3500 capping price while 3320 protecting downside. Breach of this support will once again open 3200-3170 zone. ETH needs to break above 3520 in order to establish 3800-4050 as next target zone.
