NovaFX23

NovaFX23

📉 USDCAD has formed a head and shoulders pattern on the 4-hour chart. After the release of US economic data yesterday, the price dropped sharply, breaking below the pattern's neckline. This morning, the pair is retesting the broken neckline and moving lower, indicating the potential for further downside. The next key support level to watch is 1.4244.

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📉 The US500 is showing a bearish trend after breaking below a key support level within a tight consolidation range on the 4-hour chart. The price is likely to continue its decline, with the next potential support level at 5,710.

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📉 NZD/JPY has formed a well-defined head and shoulders pattern at a key daily/intraday resistance level. A bearish breakout below the horizontal neckline signals strong selling pressure, reinforcing a bearish outlook. The pair is likely to extend its decline, with a potential target of at least 83.83.

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After breaking through a key horizontal resistance level, 📈GOLD retested it and formed a symmetrical triangle pattern on the hourly chart. A bullish breakout above the resistance line serves as a critical intraday confirmation of bullish sentiment and strong buyer momentum. The price is likely to rise, potentially reaching at least 2,930.

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The 📈GBPCAD pair remains in a strong bullish trend, with the breakout of a key resistance level confirming further upside potential. On the hourly chart, an ascending triangle pattern is forming following a recent test. The price is likely to continue rising, potentially reaching at least 1.8552.

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I'm noticing a strong bullish reaction from buyers at a key daily support level on the 📈USDJPY chart. After testing the highlighted blue zone, the price entered consolidation, forming a small horizontal range on the daily timeframe. The breakout above the range resistance signals strong buying momentum. We expect further upside, with a target of at least 151.51.

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I believe 📉Gold has the potential for further downside. On the intraday chart, the market has been consolidating within a broad horizontal range for some time. A break below the support level signals strong bearish momentum, and the price is now retesting the previously broken support. I expect a potential decline toward the 2840 support level.

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GBPJPY had been consolidating in a sideways range for about a week before witnessing a strong bullish breakout today. This surge has turned the pair bullish. On the 4-hour chart, the price successfully broke above a key resistance level within the range, supported by a strong momentum candle. With this breakout, further upside movement is expected, with...

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Quick Gold Update..... Gold has now decisively broken and closed below a key intraday support level after a period of consolidation. Upon retesting this broken support, a strong bearish reaction followed, suggesting that the market is likely to continue its decline. The next support level to watch is 2896.

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The EURAUD pair has developed an inverted head and shoulders pattern on the 4-hour chart, signaling a possible bullish reversal. A breakout above the pattern’s neckline points to continued upward momentum, with a potential test of the 1.6620 level soon.

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The Dollar Index is expected to extend its downward trend after a strong bearish rally. This outlook is reinforced by the breakout below the support line of a bearish flag pattern, following a retest of a key resistance level. The price is projected to approach the 106.63 level soon.

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Gold is currently in a strong bullish trend. After establishing a new higher high and higher close on the 4-hour timeframe, the pair has entered a consolidation phase within a horizontal trading range. I anticipated a bullish breakout above the range’s resistance level. A 4-hour candle closing above 2943 would signal strong buying momentum, confirming a bullish...

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⚠️ GBPCAD Analysis This week, GBPCAD broke a key structural resistance and closed above it. Currently, the pair is consolidating within a tight horizontal range, retesting the broken structure on the 4-hour chart. For confirmation of a bullish intraday trend, watch for a breakout above the range resistance. A 4-hour candle closing above 1.7924 will...

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⚠️ Bitcoin (BTC/USD) Wave Analysis Bitcoin is currently in a consolidation phase, trading within a wide horizontal range on the daily chart after a strong bullish rally. - **Resistance Zone:** 106,027 - 109,582 (Aligns with the All-Time High resistance) - **Support Zone:** 89,378 - 92,797 There are two possible scenarios based on price action at these...

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Silver's price appears to be resuming its downward movement. After consolidating within a parallel rising channel, it has broken through both a key support level and the channel's support line. This breakout has formed an expanding supply zone, defined by the horizontal support and the channel's support line. A further decline seems likely, with the next...

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Gold has reached a key daily resistance level at a rising trend line. After a strong bullish rally, the market seems overbought, and the formation of a cup and handle pattern on the 1-hour chart suggests weakening buyer momentum in the near term. I anticipate a pullback to 2880.

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The Dollar Index has approached a key upward trend line. After a sharp decline, the market seems overbought, and the formation of a cup and handle pattern suggests weakening selling pressure. A retracement to 108.80 is expected.

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GBPNZD recently reached a key resistance level and formed a head and shoulders pattern. Last week, the price broke below the neckline and is now retesting it, showing a strong bearish response. Selling pressure seems to be building, suggesting a potential downward move soon. The target for this decline is around 2.1803.