TEAMLEASE - 1D breakout and retestTEAMLEASE - Breakout in Daily timeframe after 1 year. The stock is coming back for a retest of the breakout zone. I see a handsome risk-reward.
The company has decent fundamentals and good sales.
Longsetup
Gold: DOWNTREND?"Hello everyone!
Last week, the price of gold continued its slight decline, dropping from $2,029.6 per ounce at the end of the previous week to $2,018.5, a decrease of $8 after a week of trading.
Gold is currently under pressure from profit-taking, in the context of recently released US economic data that could impact the Federal Reserve's decision on whether to cut interest rates sooner or later. At the beginning of this new year, the price of gold seems to be moving sideways and still holding steady above the $2,000 threshold.
To make a breakthrough, the gold market needs encouraging signals from Fed officials. Some recent assessments suggest that the strong price increase of gold in late 2023 had anticipated the possibility of the Fed reversing its monetary policy. With the current caution of the Fed, profit-taking pressure on gold is increasing. At the same time, the continuous new records in the US stock market also reduce the attractiveness of gold.
In the short term, gold may face some negativity, but in the long run, it is expected to continue its upward trend. This is not only due to the possibility of the Fed cutting interest rates but also due to the pressure to reduce the use of USD from major economies, including China.
What about you? What do you predict for the price of gold this week?"
GBPUSD: Keep bullish faith!Dear friends, The GBP/USD pair is trading steadily around the psychological level of 1.2700 in the early Asian trading hours on Friday. The optimistic GDP growth figures from the United States have boosted the greenback against its rivals.
Next, traders will be monitoring the GfK consumer confidence in the United Kingdom for January. The focus will then shift to the Core Personal Consumption Expenditures (Core PCE) price index of the United States on Friday, expected to increase by 0.2% MoM and 3.0% YoY. Traders will take cues from these numbers and seek trading opportunities around the GBP/USD pair.
GBPUSD: Buy or Sell?Hello dear friends, what do you think will happen to GBPUSD in the near future?
Today, this currency pair is still maintaining a prolonged sideways trend, with short-term prices favoring buying. However, there is still a lack of momentum for this pair to break out of the range as investors shift their focus towards monetary policy announcements from the Federal Reserve and the Bank of England, which are expected to provide the latest direction for GBPUSD.
EURUSD: Price wedge widening, what is the next trend?Dear readers, EUR/USD has once again dropped to a low of 1.0850 as the currency pair continues to fluctuate within familiar levels this week. The downward price trend has pushed the Euro lower against the US Dollar following the ECB's decision to maintain interest rates and better-than-expected US GDP data.
On the 4-hour chart, the currency pair is trading near the lower end of an ongoing consolidation process around the 1.0890 level, indicating a period of consolidation. Support is seen at 1.080. On the other hand, upward price movements may attempt to reach the 1.090 level, but prices could decline further from this area as it completes a test of the EMA 34, 89.
EURUSD: discount?Dear friends, overall EURUSD is not receiving much support as the main trend is downward, surpassing the psychological support level of 1.090.
The prevailing risk aversion sentiment, driven by escalating geopolitical tensions in the Middle East, is causing traders to favor the US dollar (USD), putting downward pressure on the EUR/USD pair, which is trading near 1.083 today.
This week, we will have several important news releases, particularly the US Housing Price Index and Consumer Confidence data, which will be released on Tuesday, providing more detailed information about the market. This careful consideration is expected to strengthen following the upcoming statement from the Federal Open Market Committee (FOMC) on Wednesday.
GUFICBIO | SYMMETRICAL TRIANGLE BREAKOUT & SUSTENANCE!POINTS TO NOTE:
______________________________________________________
1. Symmetrical Triangle(ST) consolidation on a healthy uptrend
2. Breakout & sustenance outside the triangle
3. Another HH, HL breakout of a minor trendline outside the ST
4. Targets measured as Height of the pattern
Disclaimer: This is NOT a trade recommendation but my analysis. Please do your own before entering positions
ADANIPOWER-Bullish Momentum Continues with Strong Support.1. Trend Analysis:
Adani Power has been in a continuous uptrend since April 2023, forming higher highs and lower lows. This is indicative of a bullish trend, suggesting that buyers have been in control.
2. Moving Averages:
The 30-day Simple Moving Average (SMA) and 50-day SMA are acting as significant supports, confirming the bullish sentiment. These moving averages are often used to identify the trend direction, and the fact that the stock is consistently above them is a positive sign.
3. Significant Development on 24 November:
On 24 November, a noteworthy event occurred, leading to a substantial 42% price movement within just 12 days. Such rapid movements can indicate strong momentum and interest from market participants.
4. Consolidation Phase:
After the rapid move, the stock underwent a consolidation phase for nearly 1.5 months. During this period, volumes remained low, suggesting a decrease in trading activity and potential accumulation by institutional investors.
5. Volume Analysis:
On 24 January, there was a significant increase in volumes. This could indicate renewed interest in the stock and potential for a breakout. The combination of low volumes during consolidation and increased volumes during the breakout suggests a potential strong move.
6. Candlestick Patterns:
Candlestick analysis shows that on 24 January, there is a contraction in candle size, indicating a period of indecision or consolidation. This often precedes a significant price move. A breakout above the resistance level of 554 could signal a bullish continuation.
7. Resistance and Support Levels:
The resistance level at 554 is crucial. A successful break above this level may trigger a strong upside move. On the downside, the support at 511 is deemed strong. If the price closes below this level, it could lead to further consolidation or a potential downtrend.
8. Current Outlook:
As of now, the technical analysis suggests a bullish outlook for Adani Power. The stock has shown strength during the uptrend, and recent developments, including increased volumes and a potential breakout, support the bullish case.
Conclusion:
Traders and investors should monitor the key levels of 554 (resistance) and 511 (support) closely. A breakout above 554 could provide a bullish trading opportunity, while a breakdown below 511 might indicate a shift in sentiment.
Disclaimer:
The information provided herein is for educational purposes only and is not intended as financial advice. Any trading or investment decisions made based on the content provided are at your own risk. It is essential to conduct your own research and due diligence before making any financial decisions.
USDJPY: trading is in the redThe USDJPY has been relatively stable today, hovering around the 147.57 level and near the EMA lines on the 1-hour time frame. There are indications of a short-term price decline, as a double top pattern is forming with support at 147.400. If the pair breaks below this support level, it could open up more opportunities for sellers, with an initial target of 146.70 in sight.
XAUUSDThe gold price today seems to have remained unchanged from earlier this morning, mainly ranging between 2021 - 2022 USD.
Although the US GDP growth has exceeded expectations and core orders have increased, negative factors such as rising unemployment claims and inventory levels, along with reduced personal consumption, will pose challenges to the US economy. As a result, some investors have returned to buying gold. However, there are still many investors who remain on the sidelines, observing the market.
Inflation in Europe has decreased to 2.9%, prompting the European Central Bank to maintain interest rates. The European Central Bank predicts that inflation in the region will gradually decrease to around 2.7% in 2024.
Considering the above information, it will be difficult for the gold price to rise significantly given the positive economic growth in the US. This indicates that the world's largest economy will not experience a recession and will achieve the desired soft landing as expected by its central bank.
Gold price today, increase or decrease further?Gold prices today surged from $2013 to $2020 per ounce at 6 am on January 26th. The reason behind this is the improved economy of the United States and the cooling inflation in the country.
Specifically, in 2023, the US GDP is projected to grow by 2.5%, a significant improvement compared to the 1.9% growth in 2022.
On the other hand, after excluding food and energy prices, the US core personal consumption expenditure (PCE) index retreated to 2%. This data indicates a decreasing inflation rate in the US, which could prompt the Federal Reserve (FED) to lower interest rates in the coming months. In such a scenario, the value of the USD would depreciate, benefiting the global gold prices.
USDJPYHello dear friends!
Today, USDJPY is trading around 147.66 and is in a corrective wave within its trend, as the currency pair has just experienced a downward breakout from a marked support level.
Accordingly, the USD/JPY pair is undergoing a downward trend as market confidence recovers due to expectations that the Federal Reserve will begin implementing interest rate cuts in March. Currently, the probability of this scenario is estimated at around 50:50, indicating the uncertainty of market participants. The USD/JPY pair traded lower near the 147.50 level during the European trading session on Thursday.
The price has reached the 0.5 Fibonacci retracement level, making this a sensitive moment for sellers to continue their attack once again. In this scenario, the EMA 89 line will be retested and prices may further decline towards 145.500.
GBPUSD: Check the channel price againDear friends, currently the GBP/USD pair continues to trade within an upward channel during the early Asian trading hours on Thursday. The major currency pair has rebounded above the 1.2700 level due to risk acceptance sentiment. However, the release of the US preliminary Q4 GDP growth figures on Thursday could cause market volatility.
In the short term, the 4-hour chart indicates a potential downward correction, with a projected retreat towards the support level below 1.2700. Immediate support is located at 1.2680 before reaching 1.2650.
EURUSD: Buy or Sell?Hello dear friends, today EURUSD continues to decline as widespread forecasts of weak US PMI data have weakened market sentiment and pushed EUR/USD lower as investors anticipate the momentum of the day and retreat to the safe haven of the US Dollar (USD).
The price is currently trading within a downtrend channel, while it has completed a correction at the resistance level of 1.093. The chart shows a convergence between EMA 34, 89, and resistance, indicating a high likelihood of further price decline with a target set at the support level of 1.0756.
USDJPY: Transactions are filled with greenDear friends, currently USDJPY is maintaining a strong upward trend, reaching 147.89 in early week trading.
In the short term, technical indicators continue to support the upward trajectory of USDJPY. This currency pair is attempting to recover after finding significant support around 148.00. The upward momentum may be further bolstered by the US Dollar Index (DXY) gaining traction from expectations that the Federal Reserve may cut interest rates in March.
GBPUSD: SELL?GBPUSD Trading Strategy:
The GBPUSD currency pair experienced a significant decline towards the end of Tuesday, maintaining a price level around 1.270 at the start of the trading session with a modest recovery of 0.07% throughout the day. However, GBPUSD is currently in a corrective phase after retesting the Breakout zone, and it is expected that the price will continue to decrease towards the level of 1.264, possibly even reaching as low as 1.260.
EURUSD declines? What is the reason?Dear friends, it's RKarina again. Are you curious about the next trend of EURUSD? Here are some insights I have about this currency pair.
Looking at the daily chart, we can see that the previous upward momentum of EURUSD is gradually weakening, especially as it started to decline from the near 1.111 level. The trend seems to be shifting sideways and may even decrease further, especially as the RSI indicator and candlestick patterns are showing divergence, indicating a gradual decrease in buying pressure.
Furthermore, the recent weakness of the US dollar (USD) has not generated significant momentum for EUR/USD, and has even added downward pressure on this currency pair.
For these reasons, RKarina sets a target and expects EURUSD to decrease to the support level of 1.076.
Gold prices continue to plummet!Hello dear friends!
Gold prices experienced significant fluctuations yesterday, with the precious metal continuing to decline and reaching $2011. However, there has been a slight recovery, and it is currently adjusting back to $2015 during the early trading hours on Thursday.
Accordingly, the optimistic PMI index from the United States has helped the yield on 10-year US Treasury bonds recover from its daily decrease, putting pressure on XAU/USD.
From the observed chart: Gold is still trapped in a parallel downward channel and has broken the short-term uptrend trendline, as well as surpassed the support level near $2020. Prices may continue to decrease after the end of the short-term trend correction. The next target for sellers is the $2005 mark. If gold surpasses this level, it will continue to seek new momentum around $1982 and the lower limit of the downward price channel.
What do you think? Do you believe gold will continue to decline further?
USDJPYToday, USDJPY continues its trading around the level of 147.83 and is in the process of forming a triple top pattern.
As a result, the Japanese Yen benefits from the hawkish stance of the Bank of Japan on Tuesday, despite the lack of further action. Political tensions and uncertain global economic prospects are not a solid foundation for the safe-haven status of the JPY, which limits the upside potential of the USDJPY currency pair.
Regarding the outlook: If the triple top pattern is confirmed, the price is likely to decline further after breaking out of the range and move swiftly towards at least 146.97.
Borosil Renewables Ltd: Bullish Breakout Signals Analysis:
The provided chart of Borosil Renewables Ltd. on TradingView suggests a bullish breakout with potential for further upside. Here's a breakdown:
Current price: ₹608.75, up 7.45% from the previous close
Breakout: The stock decisively broke above the resistance level of ₹528.75,
Volume: Increased volume at the breakout point confirms strong buying pressure, supporting the bullish momentum
Moving averages: The price sits comfortably above both the 20-day and 50-day moving averages, indicating a potential trend reversal
Trading Idea:
Long position: Consider entering a long position if the price sustains above the breakout level (₹528.75) with continued buying pressure.
Target prices: Potential targets could be around ₹640 and ₹685, based on chart patterns and Fibonacci extensions.
Stop-loss: Place a stop-loss order below the breakout level (₹528.75) to manage potential downside risk.
Additional notes:
While the technical analysis paints a bullish picture, remember that the stock market is inherently volatile.
Always conduct your own research and consider fundamental factors before making investment decisions.
This analysis is intended for educational purposes only and should not be construed as financial advice.
Overall, Borosil Renewables Ltd.'s recent breakout presents a potentially lucrative opportunity for traders seeking long positions. However, practicing cautious risk management and thorough research is crucial before entering any trades.
I hope this analysis is helpful! Feel free to ask if you have any further questions.
Additional notes:
While the technical analysis paints a bullish picture, remember that the stock market is inherently volatile.
Overall, Borosil Renewables Ltd.'s recent breakout presents a potentially lucrative opportunity for traders seeking long positions. However, practicing cautious risk management and thorough research is crucial before entering any trades.
I hope this analysis is helpful! Feel free to ask if you have any further questions.
Disclaimer: I am not a financial advisor and this analysis is not financial advice. Please do your own research before making any investment decisions.
XAUUSDThe price of gold today continues to trade quietly with little volatility, mainly moving sideways around the $2025 level and being confined within a narrow price range.
As a result, this precious metal is facing pressure as investors continue to lower their expectations of the Fed's first interest rate cut in March 2024. This factor has driven up US bond yields and the value of the USD, exerting downward pressure on the price of gold.
The current focus of the market is awaiting the release of the US Gross Domestic Product (GDP) data for the fourth quarter of 2023 on January 25th, followed by the Personal Consumption Expenditures (PCE) index on January 26th.
These two pieces of information are expected to help shape the Federal Reserve's monetary policy more clearly in the near future, which will have a definite impact on the trend of the global gold price.
XAUUSDIn the European trading session on Wednesday, the price of gold (XAU/USD) continued its downward trend, despite a lack of strong selling pressure. The trading range has been maintained for several days, with traders exercising caution and waiting for further signals from the Federal Reserve regarding interest rate cuts. The market's focus is currently on key economic data from the United States this week, starting with the flash PMI index today, followed by Q4 GDP figures and Core PCE Price Index on Thursday and Friday.
Given the risks associated with this important data, expectations for the first interest rate cut by the Fed have now been pushed back from March to May, negatively impacting the price of gold. This is reflected in the slight decline in US Treasury bond yields, strengthening the US Dollar (USD) and limiting the recovery potential of XAUUSD.
It is expected that the long-term downward trend in gold prices will continue in the near future.
btcusdtThe downward trend of BTCUSDT continued on Wednesday, surpassing the psychological support level of $40,000 and trading around $39,600. The strong support for further decline is evident as it trades below both EMA lines and shows clear reversal signals from the EMA 34.
Based on chart analysis and the use of Fibonacci, there is a potential for a DOW (Dead Cat Bounce) after the corrective phase. The low point below the 1.618 level (around $35,100) would be the first profit-taking opportunity for sellers at the current time and in the scenario mentioned above.
