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Price compression signals a strong trendCurrently, EUR/USD is trading around 1.0540, in a clear price compression zone. The 34 and 89 EMAs still show that the downtrend is dominant. The price remaining below these EMAs further reinforces the selling pressure in the market. Technical analysis: Nearby resistance: 1.0560 - the 34 EMA zone, where the price may face strong selling pressure if approached. Nearby support: 1.0520 - this is an important support level, if broken, it will trigger a stronger downtrend. Price pattern: The price is forming a symmetrical triangle structure, suggesting a possible breakout in the near future. Personal view: I see the market waiting for a decisive breakout. If it breaks below 1.0520, the next downside target will be 1.0480. Conversely, if the price breaks above 1.0560, it is likely to test 1.0600. However, with the downward pressure from the strong USD, I am leaning towards the bearish scenario. Trading Strategy: Sell: On a break below 1.0520, target 1.0480. Buy: On a break above 1.0560, target 1.0600.
by Maria_aaa
Bitcoin Trading Strategy for 15th November 2024 IST 1630 HRSBitcoin Trading Strategy: Buy Above 89,800 / Sell Below 86,600 Current Price: 89,506.00 USD Key Levels: Buy Signal: If the price closes above 89,800 on the one-hour candle, it indicates an upward momentum, suggesting a good time to consider buying. Sell Signal: If the price closes below 86,600 on the one-hour candle, it suggests a downward momentum, indicating it might be a good time to consider selling. Market Analysis: The current price is around 89,506.00 USD, indicating potential bullish activity. Pay close attention to the range between 86,600 to 89,800 for support and resistance levels. Recommendations: Buy: If the price sustains above 89,800 on the one-hour candle close, consider entering long positions. Book partial profits at 89,700 levels or use a trailing stop loss to protect your profit, with targets at 90,000 and 90,500. Sell: If the price breaks below 86,600 on the one-hour candle close, consider short positions. Book partial profits at 86,700 levels or use a trailing stop loss to protect your profit, with targets at 86,000 and 85,500. Disclaimer: This analysis is for educational purposes only. Please conduct your own analysis before making any trading decisions.
BITSTAMP:BTCUSD
by ramkkyy
XAUUSD Declines Sharply: Support at 2,488 Under USD PressureCurrently, XAUUSD is in a strong downtrend, trading around 2,551 USD/ounce after failing to hold above the previous support level at 2,605 USD. This move has pushed the price closer to the next support level at 2,488 USD, with a high probability of further decline unless strong buying signals emerge. The 34 and 89 EMA lines are positioned above the current price, acting as dynamic resistance, sustaining selling pressure and reinforcing the downtrend. The primary trend remains bearish, and if XAUUSD cannot reclaim the resistance zone at 2,605 USD, prices may correct further toward 2,488 USD or lower. With a strong USD supported by expectations that the Fed will maintain high interest rates, gold continues to face pressure from financial markets. However, investors should closely watch U.S. economic data and any announcements from the Fed, as these are key factors that could impact the future direction of gold prices.
OANDA:XAUUSDShort
by Vanna-Cris
1
GBP/USD Faces Strong Selling, Downtrend May ContinueLooking at the 4-hour chart of GBP/USD, I notice that the pair is in a clear downtrend, with the EMA 34 and EMA 89 both sloping down, indicating strong selling pressure. The current price is approaching the bearish support line below the 1.2740 area. The psychological resistance zone around 1.2800 – 1.2850 has been tested several times but failed to break above. This shows that the selling pressure is still dominant and is likely to push the price further down if there are no signs of strong support. My trading plan is to wait for a small correction to the resistance zone of 1.2800. If the selling pressure persists in this area, I will consider entering a short position with the target of approaching the lower support zone around 1.2700 or lower. Conversely, if price breaks and goes above 1.2850, I will re-evaluate my strategy.
by Maria_aaa
2
Next Target Fibonacci ExtensionLooking at the USD/JPY 4-hour chart, I see that the uptrend remains quite strong, with the price trading above both the 34 EMA and the 89 EMA, suggesting that the bullish momentum continues to hold. Based on the Fibonacci extension analysis, I am particularly interested in the 1.618 level around 157.00, which could be the next key resistance. I expect a short-term correction before continuing the uptrend towards this target. If the price falls towards the 0.618 Fibonacci support near 154.00, this would be an ideal opportunity to look for a long entry. Conversely, if the price breaks above 157.00, the uptrend could be further reinforced, while if the momentum weakens, the price could trade sideways around the EMAs.
by Maria_aaa
EUR/USD Under Pressure, Wedge Signals More WeaknessLooking at the EUR/USD 4-hour chart, I see the pair forming a falling wedge pattern, signaling a possible continuation of the downtrend. With both the 34 and 89 EMAs above the price and sloping down, this suggests that selling pressure is still dominant. In the short term, a key support level could be found around 1.0500. If EUR/USD breaks this support level, it is likely to continue falling further, aiming for further targets in the 1.0400 area. Conversely, if there is a bounce from the bottom of the wedge, the pair could retest the resistance at the top of the wedge pattern.
by Maria_aaa
2
Gold prices fall sharply due to pressure from USD World gold prices are under downward pressure in the context of a stronger USD and rising US bond yields. The US CPI index in October increased by 0.2%, pushing inflation in the year to 2.6% as expected. This, along with the possibility of new taxes from the administration of President-elect Donald Trump, is making investors believe that the FED may pause interest rate cuts, leading to gold prices falling for four consecutive sessions. On the morning of November 14, the world gold price fell to 2,573 USD/ounce, down 46 USD from the previous session's high of 2,619 USD/ounce. On the daily chart, the gold price has broken the uptrend channel and is currently continuing to decline. The next support levels are at 2,492 USD and 2,444 USD/ounce. If the price holds above this support level, a short-term recovery may occur. However, if the price continues to break these levels, the downtrend is likely to continue.
OANDA:XAUUSD
by Maria_aaa
Gold Hits 7-Week Low Amid Rising Yields and Dollar PressureGold prices are under pressure as the US dollar strengthens, US Treasury yields rise to 4.5%, and demand for gold from China declines. In the recent trading session, gold prices fluctuated sharply, falling to a 7-week low of $2,599/ounce. Market sentiment is gradually losing confidence in gold, with many investors selling off to preserve capital. In addition, US stocks also weakened as the Dow Jones and S&P 500 both fell, adding more pressure to gold. If factors such as the US dollar do not decrease and gold demand does not recover, the possibility of gold prices continuing to decline is still very high in the short term. In the short term, gold prices are likely to continue to be under downward pressure if the US dollar maintains its strength and US bond yields remain high. The nearest important support level could be the $2,580/ounce area. If the price breaks this level, the downtrend could extend to lower levels, towards the $2,550 area. Conversely, if there is significant buying pressure, gold could recover slightly, but the possibility of maintaining a strong upward momentum is low as economic factors remain unfavorable for this precious metal.
OANDA:XAUUSD
by Maria_aaa
EUR/USD: Double Top Pattern Signals Strong Bearish MomentumLooking at the current EUR/USD chart, I see that a double top pattern has formed, marking a strong reversal in the trend. After hitting the resistance zone at 1.1200, the price rejected that high and dropped to the support zone around 1.0700. Currently, the pair is within this support zone, but there are signs of further downside. The EMA 34 and EMA 89 are both pointing down, reflecting that the downtrend is still dominant in the medium and long term. This shows that selling pressure is very strong and the price is likely to continue to correct further down. If the support zone at 1.0700 is completely broken, my next target is expected to be around 1.0500. This is an important psychological support zone, and if it continues to fail, selling pressure will push the price down even lower. In the short term, I will wait to see if the price recovers slightly, but the main strategy is still to wait to sell when the price breaks the support levels.
by Maria_aaa
EUR/USD Potential Support Break in Descending Triangle PatternBased on the current EUR/USD chart, I notice that the pair is moving within a descending triangle pattern, a potential sign of a continuation of the downtrend. This is reinforced by the position of the 34 EMA and 89 EMA, both of which are sloping down and above the current price. This bearish bias suggests that selling pressure is overwhelming the market. With EUR/USD continuing to decline within the triangle, I believe that there is a possibility that the price will break the support at the lower edge of the triangle, especially since the pair has failed to break above the 34 EMA. The next important support level could be around 1.0600. If it breaks, EUR/USD is likely to continue to decline further.
by Maria_aaa
CHF/JPY Analysis: Potential Reversal SetupIn this chart, I'm analyzing a potential bullish reversal in the CHF/JPY pair after a downward trend. The price has been moving within a descending channel, with lower highs and lower lows, indicating a bearish sentiment. However, it recently hit a strong demand zone between 174.100 and 174.200, where buyers seem to have stepped in, pushing the price upward. Technical Observations: Breakout of Descending Channel: The price has broken out of the descending channel, which could signal a reversal of the downtrend. Demand Zone Support: The green zones between 174.100 and 174.400 acted as support, creating a base for buyers to initiate an upward movement. Target Levels: If the breakout is sustained, my first target is around the 174.685 level, with a secondary target at 174.920, and 175.160 as final target which aligns with previous resistance levels. Stop-Loss: I've set my stop-loss below the demand zone at 174.093 to protect against potential downside risk if the breakout fails and price re-enters the channel. Trading Plan: I'm looking for a potential long position here, with the breakout from the channel acting as a confirmation for a bullish move. Watching for strong buying momentum to sustain, I’ll look to manage the trade carefully with a close eye on any signs of reversal back into the channel. Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Trading involves significant risk, and you should always conduct your own research and consult with a professional financial advisor before making any investment decisions. Past performance is not indicative of future results. Trade responsibly.
Long
by PhD_Swingtrader
2
Gold Faces Sharp Downward Pressure as USD, Stocks Sink CapitalLooking at the recent gold price chart, I noticed that the downward trend of gold is becoming clearer. Currently, gold is trading around 2,622 USD/ounce, marking a significant decline, especially when the USD Index rose to 105.5 points. With the strength of the USD reaching its highest level in more than 4 months, gold prices have been under great pressure from the greenback. Another important factor is the impact from the energy and stock markets. Crude oil prices fell to 68 USD/barrel, combined with the recovery of US stocks, creating momentum for capital flows into assets with more attractive returns, reducing the attractiveness of gold. In addition, demand from China also contributed to increasing pressure on gold prices. The Chinese central bank has suspended gold purchases for six consecutive months, reducing demand. As a result, investors quickly took profits and sold gold, contributing to this sharp decline. In the short term, I believe the next support level for gold could be around $2,600/ounce. However, given current macroeconomic factors and pressure from other markets, gold is likely to continue to struggle to maintain its growth momentum.
OANDA:XAUUSD
by Maria_aaa
GBP/USD Facing Bearish Pressure, Testing Key SupportLooking at the GBP/USD chart, I see that the pair is in a downtrend and is facing a strong resistance zone around 1.2920. The price has formed a descending structure with lower highs and lower lows, along with moving below the 34 and 89 EMAs, indicating that the bearish momentum is still strong. The key support zone is currently located in the range of 1.2880–1.2900, which could act as a buffer in the short term. If the price breaks this zone, GBP/USD could continue its downward trend, with the nearest target at 1.2800. Conversely, if this support zone holds and buying pressure appears, I will be watching for a possible recovery to the 1.2950 resistance zone. However, I still favor the bearish scenario due to pressure from the larger trend and weakening bullish momentum.
by Maria_aaa
USD/JPY Faces Resistance, Upcoming Trend May Correct DownLooking at the USD/JPY chart, I notice that the pair is currently approaching a strong resistance zone near 154.0. The price has reached this zone and is showing signs of turning around, which could signal a weakening of the current bullish momentum. Furthermore, both the 34 EMA and 89 EMA are below the price, indicating that the uptrend is still in place, but it seems to be starting to weaken as it meets resistance. Given the current situation, I am looking at a short-term downside correction in USD/JPY. If the pair fails to break above the resistance at 154.0 and continues to be under selling pressure, we could see the price fall to the support zone around 153.0 or lower. This is the area that I will be looking at for buying opportunities if the price shows signs of recovery.
by Maria_aaa
USD/JPY Double Top Pattern PredictionFrom my observation on the USD/JPY chart, there are signs that the pair may be forming a double top pattern. The current key top is around 156.0 – this is a strong resistance level that the price has reached twice without being able to break out. This is a warning sign for a possible reversal, especially when buying pressure starts to wane. With the double top pattern, if the price drops and breaks through the support area near 152.0, I think there is a high chance that the pattern will be confirmed. In this scenario, the downtrend could continue, and the price could head towards the lower support area around 151.0. That would be a point where I would consider entering a short position if the downtrend is confirmed.
by Maria_aaa
Gold Faces Strong Selling Pressure, Heading Towards Key SupportGold is facing strong selling pressure below a descending trendline defined by lower highs. All three approaches to this trendline were rejected, indicating strong short-term selling pressure. With the current selling pressure, I think there is a high possibility that the price will continue its downtrend and head towards a strong support zone around $2,650/ounce. If this support zone is broken, the downtrend could push the price further down, towards $2,620 or even lower.
OANDA:XAUUSD
by Maria_aaa
Gold :Due for a pullback: Wait and watch zoneGold sold of hard in yesterday trading session as expected and explained in previous post and now trading below weekly S1 (2635) and currently trading at support area (2605-20) , as we have seen a good decline already so at this support area we can expect a pullback (but still there is no major confirmation of buy on any TF yet) , so idea is to wait for pullback near to major resistance area( 2645-55 : On volume profile ) and confirmed rejection we can look for sell opportunities . Those who want to take risk on buy they either have wait for day candle confirmation or can look for buy your stop will be H4 closing below 2600. 𝑺𝒖𝒎𝒎𝒂𝒓𝒚 : Expecting a pullback and then we have to wait for confirmation for a re sell. Current price is not favourable for holding or initiating new sell orders, and for buy we have to wait for confirmation on day close.
OANDA:XAUUSD
by TheGoldenCircle
Gold is under pressureAs mentioned in weekly analysis video that gold price is clearly under pressure , we have seen the same today , price is resuming the decline and now moving towards the recent low (2643-52). 𝐎𝐯𝐞𝐫𝐚𝐥𝐥 𝐰𝐞 𝐚𝐫𝐞 𝐢𝐧 𝐜𝐨𝐫𝐫𝐞𝐜𝐭𝐢𝐨𝐧 𝐩𝐡𝐚𝐬𝐞 𝐚𝐧𝐝 𝐦𝐨𝐫𝐞 𝐝𝐞𝐜𝐥𝐢𝐧𝐞 𝐢𝐬 𝐩𝐨𝐬𝐬𝐢𝐛𝐥𝐞 . 🔼For Intra day we can consider following levels for buy in scalping (Buy is just valid for scalping only , so trade with tight SL) 1.For Today the buying area is near 2650-52 (Gann Support Level and Last week Low). 2.Can look for buy on weekly S1+ Gann support Level (2635) 🔻𝐀𝐧𝐝 𝐟𝐨𝐫 𝐬𝐞𝐥𝐥 𝐰𝐞 𝐜𝐚𝐧 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐬𝐜𝐞𝐧𝐚𝐫𝐢𝐨. 1.On pullback and under Weekly pivot + Under resistance trendline 2.On breakdown from Last week Low (Price need good volume to breakdown last week low so keep watching the volume near this Level). Imp Levels : Weekly Pivot :2692 Weekly S1,S2:2635,2585 Weekly R1,R2:2741,2799 𝑺𝒖𝒎𝒎𝒂𝒓𝒚 : Buying is valid for scalping only and we have to wait for good confirmation on daily TF for any good buy opportunities and sell is seems to be more favourable.
OANDA:XAUUSDShort
by TheGoldenCircle