NovaFX23

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....

NovaFX23

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.

NovaFX23

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.

NovaFX23

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...