NovaFX23

NovaFX23

Gold has reached a key ascending trend line on the 4-hour chart. After a strong bullish rally, the market seems overbought, and a head and shoulders pattern on the 1-hour chart indicates weakening buyer momentum in the short term. A retracement to 2844 is expected.

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Silver has been in a strong uptrend for over a month, surpassing a key horizontal resistance level. The ongoing retest of this level is likely to hold within a rising parallel channel, with further upside expected toward the 32.91 resistance level.

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GBPNZD seems to be trending downward after a phase of consolidation. A break below a key support level within the sideways range signals the potential for further decline. The price is likely to continue falling, possibly reaching the 2.1946 support level.

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"EUR/AUD is poised for further decline after breaking down from a bearish flag pattern on the hourly chart. Following a failed retest of a recently broken support level, I targeted potential downside levels at 1.6591 and 1.6559."

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Since mid-January, Silver has been consolidating within a broad horizontal range on the 4-hour chart. Despite this, market sentiment remains bullish, with indications of an impending strong uptrend. A breakout above the resistance line signals the completion of bullish accumulation, setting the stage for potential gains. The next resistance target is 31.50.

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Gold is forming an ascending triangle pattern on the 4-hour chart, signaling bullish accumulation. To confirm the continuation of the uptrend, watch the pattern's neckline closely. A breakout and close above 2772 would validate bullish dominance, with a potential target of 2788.

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📉 EUR/USD Update As expected, the market broke below the highlighted blue support, leading to a significant price drop. On the 4-hour chart, I observed further confirmation of the bearish trend—a break below both the support line of a rising parallel channel and a key support level within a smaller range. I expect this downward movement to continue towards 1.0353.

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Yesterday, 📈EURAUD saw a sharp rise, breaking through a resistance level within a horizontal consolidation range on the 4-hour chart. This breakout indicates potential for further upside, with the next resistance level at 1.678.

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📈EURCAD has surpassed a significant daily and intraday resistance level, with the previously highlighted blue zone now serving as support. The upward momentum is likely to persist in the near term, with the next key targets at 1.5092 and 1.5140.

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AUDUSD has successfully breached a key supply zone with a robust bullish candle on the 4-hour chart. The pair is likely to maintain its upward momentum, with the next resistance level at 0.6350.

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Let’s analyze the price action of 📈GBPAUD. The pair initially experienced a sharp downward move on the daily chart. However, momentum weakened, and the price entered a narrow horizontal range. After a period of consolidation, the price broke above the upper boundary of the range, signaling buyer strength and a potential shift in market sentiment. I expect...

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GOLD appears ready to retest its all-time high. The metal recently broke a key intraday resistance and closed above it on the 4-hour chart. This increases the likelihood of further upward momentum, with the price targeting the resistance level at the current all-time high.

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Silver is currently consolidating within a narrow horizontal range on the 4-hour chart. A bullish breakout would be confirmed by a 4-hour candle closing above the upper boundary of the range at 31.00, potentially paving the way for an upward move toward 31.43. Conversely, a break below the range's support level would indicate the onset of a bearish trend.

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USDJPY is signaling a potential reversal following a prolonged downtrend. A decisive bullish breakout above a key intraday resistance level suggests strong buying momentum. I expect further recovery in the market, with a potential target of 157.10 in the short term.

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The CADJPY pair shows strong potential for upward momentum after breaking above a key intraday resistance level. The previously breached structure has turned into a support level, suggesting a possible bullish move toward 109.47.

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GBPCAD seems to be oversold after a recent decline, reaching a strong horizontal daily support level. Following the test of this support, the pair entered a period of consolidation within a tight range on the 4-hour chart. A recent breakout above the resistance of this range highlights buyer momentum and points to a potential pullback. The pullback target is set...

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A potential buying opportunity is forming on the GBP/CAD pair. After testing a significant daily support level, the price has formed a double bottom pattern on the hourly timeframe. A bullish breakout above the pattern's neckline provides a strong confirmation of a bullish reversal. The pair is likely to continue rising, targeting the 1.7583 level.

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I observed a clear bullish breakout above a key daily resistance level on the USD/CHF pair. The market is likely to continue rising, with the next resistance level projected at 0.9217.