NovaFX23

NovaFX23

The US500 achieved a new record high yesterday, closing above an important intraday resistance level. This may suggest continued growth, with the next resistance target expected to be around the psychological level of 5800.

NovaFX23

After a significant price increase last week, Silver is now in a consolidation phase. An ascending triangle pattern is forming on the intraday chart, suggesting potential bullish accumulation. The neckline of this pattern is currently being tested. I believe that a bullish breakout, specifically with a 2-hour candle closing above 34.35, will trigger further...

NovaFX23

GBPCHF has successfully broken above a resistance level in a wide horizontal range on the 4-hour chart and closed above it. This previous resistance is likely to act as support now. The pair is expected to continue its upward trajectory, with a target set at 1.1352.

NovaFX23

Yesterday, gold prices shifted dramatically, hitting a new all-time high close to the psychological level of 2,600, which formed a bull trap and a bearish engulfing candle on the daily chart. When analyzing the hourly timeframe, gold broke through two significant intraday structures: a horizontal support level and a rising trend line, all with a single bearish...

NovaFX23

The EURCAD pair is currently at a crucial horizontal level and has formed a double top pattern on the 4-hour chart. To consider taking a short position, traders should wait for a bearish breakout below the neckline of the pattern. A confirmation of this breakout would be a 4-hour candle closing below the key level of 1.5103. If this happens, we can anticipate a...

NovaFX23

I observed a significant bearish reaction at a key intraday horizontal resistance level on the EURNZD chart. After testing the highlighted blue resistance zone, the price started to consolidate, forming a horizontal range on the 4-hour time frame. The support level was breached, showing a strong selling pressure, and the pair is currently retesting that level....

NovaFX23

I’ve noticed another significant intraday structure breakout. Gold has breached a support cluster within a tight horizontal range, signaling strong selling pressure and a bearish outlook. After a comprehensive retest of the broken structure, we’re now seeing a bearish reaction. I expect the price to approach the levels of 2553 soon.

NovaFX23

The GBPAUD currency pair has developed a head and shoulders pattern on the 4-hour chart. After today's economic data release, the price fell sharply and broke through the neckline of the pattern. This indicates a likelihood of further declines ahead. The next potential support levels to watch are 1.9413 and 1.9350.

NovaFX23

After a strong upward trend last week, Silver has now paused its advance and is consolidating. Currently, an Indecision pattern, specifically a symmetric triangle, is forming on the 1-hour chart. The price is testing the boundaries of this pattern. If there is a bearish breakout, with a 1-hour candle closing below the support line, we could see a downward...