NovaFX23

NovaFX23

Observe the recent price action of 📉USDCAD. After testing a major horizontal resistance, the price began consolidating within a narrow range. It subsequently bounced and broke below both the support line of an ascending parallel channel and the horizontal range support. This breakdown suggests a potential further decline. Key target levels to watch are 1.3874 and 1.3858.

NovaFX23

There’s another possible short trade opportunity on 📉USOIL. A head and shoulders pattern forming at a key daily/intraday resistance level could signal a strong bearish trend. We expect a price move up to at least 70.24.

NovaFX23

A bearish breakout has occurred in CADJPY, with the price breaking below both an upward trendline and a horizontal demand zone. Following a retest of the broken trendline, a strong rejection suggests potential for further downside movement. The next key support level to monitor is 108.83.

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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...

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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...

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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.