NovaFX23

NovaFX23

GBPCAD is currently moving sideways within a broad horizontal range. After testing resistance, a head and shoulders pattern has appeared on the price chart. I expect the consolidation to continue, potentially resulting in a decline toward the support level of the range. My target is 1.7909.

NovaFX23

We observed two notable bearish breakouts in 📉Gold on the intraday and daily charts. First, the price broke through a key daily horizontal support level. Furthermore, it closed below a critical ascending trend line. This breakdown of both horizontal and vertical structures has now established an expanding supply zone. Short positions are recommended from this...

NovaFX23

I'm impressed with how the 📉 Dollar Index reacted to a key horizontal resistance level on the 4-hour chart. Following this test, the index moved into a consolidation phase, forming a horizontal range. The breakdown below this range's support level has provided a clear bearish signal. Now, we're observing a favorable retest of the broken structure, suggesting a...

NovaFX23

Silver has the potential to rise further after breaking a major resistance level during intraday trading. The previously breached structure now acts as support, indicating a possible move up towards 34.92.

NovaFX23

The GBPUSD is displaying a bullish trend on both the daily and intraday charts. The daily chart indicates a breakout above a resistance line within a broad horizontal channel, signaling a trend reversal. On the 4-hour chart, a retest of the previously broken resistance line within the channel is evident, followed by a strong bullish move and a change in character...

NovaFX23

Gold’s price appears poised to retest its all-time high soon, supported by a strong global bullish trend. On the 4-hour timeframe, a cup and handle pattern has emerged, providing a solid intraday confirmation. This suggests potential growth towards 2758, in alignment with the all-time high level.

NovaFX23

GBPAUD shows strong potential for further gains after successfully breaking a key resistance level on the intraday/daily timeframe. The previously breached structure now serves as support, signaling a possible bullish move toward 1.9700.

NovaFX23

GBPNZD is currently in a strong uptrend. After reaching a recent high, the market has begun consolidating within a narrow parallel channel on the 4-hour chart. A break above resistance indicates that the upward momentum is likely to persist, with an anticipated target price of 2.1701.

NovaFX23

I anticipate an increase in the value of EURUSD. The price has reached a significant support level and shows signs of being oversold on the 4-hour chart. Furthermore, there have been two bullish breakouts on this timeframe, including a breakout from a descending channel and a horizontal resistance level. I expect the price to rise to approximately 1.0870.

NovaFX23

We identified another breakout today: USDJPY has surpassed a key horizontal resistance level and closed above it. This suggests the potential for ongoing bullish momentum. The next resistance level to keep an eye on is 154.90.

NovaFX23

EURNZD is anticipated to keep rising. After a correction to a key horizontal support level, the price bounced back and broke through a resistance line, forming a bullish flag pattern. Recent fundamental events have also strengthened the pair, making it likely to reach the 1.806 level soon.

NovaFX23

USDCHF has displayed a strong bullish signal after recently breaking through a key intraday/daily resistance level. Following a retest of this broken structure, the price has established a range on the 4-hour timeframe, indicating that the resistance has been surpassed. Continued growth is anticipated, with a target of at least the 0.8724 resistance level.

NovaFX23

The US500 is currently experiencing a strong bullish trend, which isn't surprising. After reaching a peak of 5,776 in September, the index began to consolidate. Recently, it has formed an ascending triangle pattern on the 4-hour time frame. A significant bullish signal will materialize if the neckline of this pattern is breached, confirmed by a 4-hour candle...

NovaFX23

The EURAUD currency pair formed a distinct double top pattern on the 4-hour chart after testing a key horizontal resistance level. Today's economic data release triggered a price drop, breaking below the neckline of the pattern and confirming a bearish trend continuation. The price is likely to continue downward, possibly reaching the 1.6127 level soon.

NovaFX23

EURNZD has established a cup and handle pattern and has broken through its neckline on the 4-hour chart. This breakout confirms a Change of Character (CHoCH) and indicates a potential bearish reversal in the near term. The price is likely to decline, potentially reaching the support level at 1.7807.

NovaFX23

As gold reaches new record highs, we expect continued market growth. The market has successfully surpassed a resistance level identified by previous highs and closed above it. The Index displays strong potential for further increases, with the next resistance level set at 2700.

NovaFX23

I’m feeling very optimistic about the outlook for silver. After a strong upward trend, the pair had been trading in a narrow range on the 4-hour chart. Today, it broke above that range, and I expect this will lead to a move toward the next resistance level at 32.33. For potential entry points, it might be wise to look for a retest of the breakout level.

NovaFX23

Gold formed a head and shoulders pattern on the hourly chart, featuring a descending triangle as the right shoulder. Both patterns had a common neckline, which was breached during the Asian session when an hourly candle closed below it. This suggests a possible price decline, with targets projected at 2636 and 2624.