NovaFX23

NovaFX23

Last week, EURCAD touched a significant rising trend line on the 4-hour chart. Despite the market consolidating in a horizontal range for a while, this contact with the trend line propelled the pair upward. The market then broke and closed above the range's resistance. I anticipate that the pair will continue to rise, with a target of 1.5123.

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The US100 index has exceeded and closed above a crucial resistance level on both daily and intraday charts. The previously broken structure is now serving as support. This may signal a potential uptrend ahead, with the next target at 20,475.

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GBPCAD is exhibiting signs of a bearish trend reversal after approaching a significant daily resistance level. There are signs of a double top pattern and a rising parallel channel. The price has fallen below both the horizontal neckline and a trend line, indicating a potential bearish continuation towards 1.7900.

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The EUR/USD experienced a sharp rebound yesterday and is approaching a significant resistance zone. Watch the 1.1203 - 1.1184 range closely this week. A breakout and close above this area on a 4-hour chart would suggest a strong bullish signal. If this happens, we could anticipate a continued upward trend towards the 1.1250 level.

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I noticed two bearish price action patterns on the EURCHF chart. On the 4-hour time frame, the price has broken and closed below the support line of a rising wedge pattern. Additionally, on the 1-hour time frame, the market has breached the neckline of a head and shoulders pattern. I believe the pair is likely to continue declining, with the next resistance...

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The USDJPY chart has developed an inverted head and shoulders pattern on the 4-hour time frame. Following the release of US economic data on Friday, the price surged and broke through the neckline of the pattern. This morning, the price retraced and tested the broken neckline, which held as resistance. We can anticipate further upward movement from here. Key...

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Gold hit a new record high last week, but recent indications on a 1-hour timeframe suggest that bullish momentum is waning. After a strong price increase, we are now seeing a series of diminishing price movements within a rising wedge pattern. Following the release of significant news today, there was a notable price drop that broke through a support line in...

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AUDJPY has successfully broken above a key horizontal resistance level and a significant descending trend line. This breakout has created a widening demand zone. I expect a bullish movement to begin from the highlighted blue area, targeting 99.30.

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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.

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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...

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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....

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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.

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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.

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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...