EUR/USD Slips Amid Strong Downward MomentumThe current downtrend in the EUR/USD pair is evident, with the price testing a critical support level around 1.0550. Over the past few months, EUR/USD has consistently depreciated, largely driven by the strengthening of the USD and unfavorable factors for the Euro. This support level has previously acted as a
From a technical perspective, if this support zone fails to hold, the price is likely to continue its decline towards the next level around 1.0311, according to Fibonacci levels. This is a strong psychological level that could further pressure investors looking to maintain long positions.
Signals from the moving averages also confirm the bearish trend, as these lines are aligned above the price, reinforcing the negative outlook.
Buy-signal
Gold Price Tests Key Support Amid Downward MomentumThe current gold price is testing support around $2,560, reflecting a downward trend that began after reaching recent highs. The resistance at $2,607 has proven resilient, contributing to the bearish sentiment as prices struggle to regain momentum.
If gold fails to establish a reversal pattern above this support level, we could see further declines toward the next key support zone around $2,480. This area is highlighted as a potential bounce-back region, where buyers might re-enter the market. However, any recovery will need to break above the previous resistance to shift the trend back to a bullish stance.
EURUSD : Sell when the price decreases !The EUR/USD pair is currently facing a strong resistance zone around 1.0710, which could determine its next directional move. Recently, the pair has shown a bearish trend, with each attempt at recovery met by selling pressure at key levels. If sellers maintain control, there is potential for further declines toward lower support levels.
From a technical perspective, the price has respected a descending trend and remains below the key moving averages, signaling continued downside risk. Should the resistance hold firm, a retest of recent lows or even a further slide could be anticipated.
GBPUSD: Continue to prioritize selling
The GBP/USD pair extended its decline, dropping below 1.2810 in Tuesday's trading session at the time of writing. The U.S. dollar remains robust as Trump-related trades continue to gain momentum, keeping the downward trend in the major currency pair intact after breaking through chart-marked support levels.
On the USD side, the potential for the Trump administration to propose policies like high tariffs, tax cuts, and interference with the Federal Reserve's monetary policy could strengthen the dollar and bond yields, creating additional resistance for GBP/USD.
Gold Prices Drop Amid Strong Dollar SurgeGlobal gold prices have seen a sharp decline, with spot gold dropping by $24.7 to $2,597.9 per ounce, marking the lowest level in nearly two months.
This downward trend reflects the pressure from a robust recovery of the US dollar, as the US Dollar Index has climbed to its highest level in four months. This strength in the dollar makes gold more expensive for buyers holding other currencies.
In my view, the strengthening USD is a primary factor putting pressure on gold prices, especially as the inverse relationship between gold and the dollar has re-emerged strongly following the US presidential election. Potential policies from President-elect Donald Trump could benefit the USD, with US interest rates likely remaining high for an extended period—a scenario that is generally unfavorable for gold.
BTCUSDT Analysis: Bullish Momentum and Key Support ZonesBTCUSDT is currently trading around 75,740 USDT after a recent bullish push, suggesting strong upward momentum. The chart shows clear support zones (highlighted in purple) that Bitcoin could revisit in case of a pullback, specifically around 74,000 USDT and 72,500 USDT.
If BTC holds above these support levels, it could gain further traction to reach new highs, with targets in the 78,000 USDT - 80,000 USDT range. The current trend suggests that if Bitcoin retraces and tests the support, it could present a buying opportunity for traders looking to join the next potential leg up.
Keep an eye on these critical levels, as a break below the 72,500 USDT support might indicate a shift in trend. However, for now, the bullish scenario remains intact, with promising upside potential if buyers continue to dominate.
ETHUSDT: What should be traded and note?The ETH/USDT chart suggests a possible bearish move:
Resistance: Around $2,462, price may test this level but face rejection.
Support: The support zone is at $2,420, where the price could potentially fall.
Trading Plan: Short near $2,462 if rejection occurs, targeting the $2,420 support. Place a stop loss above $2,500 for safety.
This is a straightforward approach based on current chart patterns and key levels.
BTCUSDT Eyes Resistance at 70K: Short-Term Pullback ExpectedThis chart is of the BTCUSDT (Bitcoin/Tether) pair on the 1D (daily) time frame, showing that Bitcoin is in a strong uptrend within an ascending price channel.
Brief Analysis:
Uptrend in price channel: Bitcoin is currently trading within an ascending price channel with higher highs and higher lows. The price remains above the lower trendline of this channel.
Resistance around 70,000 USDT: A strong resistance zone near 70,000 USDT could challenge further price increases. It is likely that the price will face selling pressure at this level.
Correction scenario: The chart suggests a possible short-term correction after reaching the resistance zone, potentially dropping to the 66,000 - 67,000 USDT area before resuming the uptrend.
Moving Averages (MA): The moving averages show a positive signal, as the price has crossed above them, adding momentum to the bullish trend. This supports the longer-term upward movement.
Strong support: The key support level for this uptrend is in the 63,000 - 64,000 USDT range, where the moving averages converge.
Overall, the uptrend remains intact within the channel, but a short-term pullback is possible before breaking through the major resistance levels for further gains.
BTCUSD Key Resistance Zone: The chart highlights a strong resistance around 62,811 - 62,838 USDT, where price is expected to struggle to break higher. This area is a potential zone to look for sell setups if price retests it.
Support Zone: The green highlighted area around 60,000 USDT acts as a crucial support zone. The price is consolidating within this area, and the next move depends on whether it breaks below or holds above this support.
Bearish Scenario: If the price breaks below the support zone (around 60,000 USDT), the next target would be around 53,924 - 53,821 USDT (marked in red), a lower support area.
Bullish Retest: In case the price moves up and retests the resistance at 62,838 USDT, this could provide an opportunity for a sell-off, anticipating a reversal back down towards the lower support.
This chart shows a neutral consolidation with potential for either a breakout to the downside or a bearish retest of resistance.
Sell Strategy for BTCUSDT Based on the Provided ChartKey Resistance Zone:
The chart indicates a strong resistance area around 63,657 - 63,679 USDT. This is where the price has previously failed to break higher and has shown signs of a reversal, making it a prime area to consider selling.
Confluence Zone:
There is a notable confluence zone marked between 61,776 - 61,929 USDT. This area is significant because it aligns with various technical factors. The price is likely to retest this zone before continuing the downward trend. A rejection candle (such as a pin bar or bearish engulfing pattern) in this area would be a strong confirmation to enter a sell trade.
Entry Strategy:
Wait for the price to return to the confluence zone (highlighted by the red arrow and circle on the chart). Once the price reaches this area, enter a sell position when there is a clear rejection signal, such as a bearish candle formation indicating price reversal.
Take Profit Target:
The ideal take profit zone is around 57,876 - 57,898 USDT, which is marked as a strong support area on the chart. If the downward momentum continues, this is a likely target for the price to hit.
Stop Loss Placement:
Place your stop loss above the resistance area, around 63,679 USDT. This will protect your position in case the price breaks above the resistance and shifts towards an upward trend.
Summary of the Strategy:
Entry: Around 61,776 - 61,929 USDT, upon observing a bearish price rejection.
Take Profit: Target 57,876 - 57,898 USDT.
Stop Loss: Set above 63,679 USDT to minimize risk.
This strategy is based on the confluence of key technical levels, resistance, and support areas shown on the 4-hour chart. It focuses on waiting for a clear rejection signal before entering a sell trade.
BTCUSDT: The downtrend is aiming. Based on the chart analysis provided, it is recommended to approach the market with a bearish trading strategy for the BTC/USDT pair. The chart outlines key resistance and support levels, which suggest a downward price action if certain conditions are met.
Detailed Trading Plan:
Current Market Condition:
The price of Bitcoin is trading below two key EMA lines, which signals a potential continuation of the bearish trend. The price has attempted to break through the resistance level near $62,700, but multiple rejections (indicated by red arrows) suggest that sellers are in control.
Trade Setup:
Sell Entry: Consider entering a short position if the price retests the resistance zone around $62,700 and shows rejection (bearish candlestick patterns or wicks). This is confirmed by the yellow circle on the chart, indicating potential price reversal.
Target Levels:
The immediate support level is identified near $62,000 (green zone). However, if this level is broken, the next target would be the $61,238 zone, marked by the dotted black line. This level represents a potential deeper correction.
Stop Loss:
Place a stop loss slightly above the resistance zone, around $62,800, to protect against potential upside breakouts.
BTCUSDT: Short term buying and selling strategy.Based on the BTCUSDT chart you provided, here’s a concise trading strategy:
Resistance Area: The price range between $64,000 and $68,000 is acting as strong resistance. The price has previously been rejected at this level, signaling a potential sell opportunity.
Sell Plan: If the price moves up and tests this resistance zone again ($64,000 - $68,000), consider entering a sell position upon seeing a bearish reversal signal. Set a stop-loss just above $68,000.
Take-Profit Target: Aim for a take-profit target around the $53,800 - $54,000 area, which is a significant support zone.
Risk/Reward: This strategy offers a reasonable risk-to-reward ratio, particularly as the price continues to move within a downtrend channel.
If the price breaks below the $53,800 support level, there could be further downside potential.
BTCUSDT : The uptrend channel is still in place.BTCUSDT has experienced a decline as it approached the resistance level of 64,500 USD. However, looking at the technical picture, the uptrend remains steady, with the parallel price channel still intact and no signs of reversal from the 34 and 89 EMA.
With these carefully analyzed factors, we should consider re-entering buy positions when the price hits the lower boundary of the channel.
That said, this is merely a trading idea, so exercise caution. If the price breaks the channel, it’s time to shift your strategy to sell with the trend.
Wishing you successful trades! And don’t forget to share your thoughts on this analysis below!
BTCUSDT: Buy in the short term.BTCUSDT is continuing its strong uptrend, currently trading around $63,590.
In the short term, the bullish momentum is clear, with the trendline, EMA, and other technical factors all supporting the buyers. Personally, I favor a buy strategy with a take-profit target at $65,000.
You can consider buying now or waiting for a price pullback to the trendline for a better entry.
Wishing you all successful trades and plenty of profits!
Tiranga Technique of Taking TradesSimple Technique,
Plotted High and Low of EMA 48 Time Period,
Any Candle that closes above green with good volume, is a buy signal and vice versa
GOLD buy | Good Luck traders Hello Traders, here is the full analysis for this pair.
Watch strong action at the current levels for BUY. GOOD LUCK! Great BUY opportunity in GOLD .
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EURGBP: BUY at 0.88600 SL 0.88150 TGT 0.89500EURGBP is a Stock Buy only ABOVE 0.88600 with Stop-loss of 0.88150 and Target of 0.89500
Tata Motors - Long SignalTata Motors has a strong support around 442 in both weekly and monthly charts. Any dips can be bought with a weekly closing basis SL of 442, for a target of 510-519. Daily close above 469-470 will confirm the uptrend.
