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AUDUSD Testing Support: Resistance at 0.6750AUDUSD is testing the support level around 0.6680, an important level previously validated. If the price holds above this support, it may rise towards the 0.6750 resistance, though the EMA 34 and EMA 89 could limit the upward move. If the price holds above 0.6680 and rebounds, traders may consider opening buy positions with a target of 0.67097. Regarding news: PMI reports, unemployment data, or interest rate decisions from the RBA and FED could impact AUDUSD. If the U.S. economy shows positive signs, the USD could strengthen, putting pressure on the AUD.
Long
by Romio_pro
USDJPY Deepens Decline: Support at 144.500, Target 143.000On the 3-hour chart, USDJPY is declining, approaching a key support level at 144.500, a level that has been tested and may react in the short term. If the price tests this support and doesn't recover strongly, it is likely to continue its downtrend with the next target at 143.000. The 89 and 34 EMAs act as resistance levels at 145.776 and 145.718, reinforcing the downward trend. RSI at 42.88, near the oversold zone, indicates the price may drop further before a slight upward correction. Investors may consider selling if the price breaks the 144.500 support, with a short-term target at 143.000. Regarding news: Inflation data from Japan and the U.S. will impact USDJPY. If Japan's inflation remains low, the Yen could weaken further.
Short
by Romio_pro
ICICI Prudential Life Insurance Company Limited (ICICIPRULI) Overview ICICI Prudential Life Insurance Company Limited (NSE: ICICIPRULI) is currently navigating through an ascending channel, as shown in the 3-hour chart. It’s like watching a circus performer carefully walk a tightrope – thrilling, but you never know which way it will go! Technical Pattern: Ascending Channel The price action of ICICIPRULI has been steadily climbing within the confines of an ascending channel. This pattern is characterized by higher highs and higher lows, creating a channel where the price is currently dancing near the upper boundary. Channel Resistance: The upper boundary, currently acting as resistance, is approximately near ₹770-₹775. Channel Support: The lower boundary, providing support, is hovering around ₹735-₹740. Current Price: ₹768.00 (as of the last candle close) Volume: 97.709K – indicating moderate trading activity, almost like the audience holding their breath as they watch the performer’s next move. Price Action Analysis ICICIPRULI’s price has recently tested the upper boundary of the ascending channel, but couldn’t muster the strength to break out. This is like trying to reach the top shelf without a stool – so close, yet so far! The price has pulled back slightly, hinting at a potential consolidation before the next big move. What to Watch For Breakout or Breakdown?: The key question is whether ICICIPRULI will break above the channel's resistance or succumb to the support line. A breakout could lead to a bullish run, while a breakdown might see the stock tumble towards lower levels. Volume Confirmation: Watch the volume closely. A breakout with strong volume could confirm the move. On the other hand, if the price breaks down with increased volume, it could signal a bearish shift. RSI and Other Indicators: Keep an eye on RSI and other momentum indicators to gauge the strength of the current trend. Possible Scenarios Bullish Scenario: If ICICIPRULI breaks above the channel resistance with significant volume, it could head towards the next resistance levels around ₹800-₹810. Bearish Scenario: If the stock fails to hold the channel support and breaks down, we could see a pullback towards ₹735 or even lower. Conclusion ICICI Prudential Life Insurance Company Limited is at a critical juncture, much like that tightrope walker deciding whether to step forward or retreat. While the ascending channel provides a structured path, the real question is – will the stock perform a grand finale with a breakout, or take a cautious step back? Stay tuned, and remember to enjoy the show while keeping an eye on those risk management strategies!
NSE:ICICIPRULI
by TRADING-NASA
XAUUSD Holds Strong Support: Breakout Target 2,523On the 4-hour chart, XAUUSD is currently in a strong support zone around 2,470 - 2,480, a level that has been tested multiple times in the past. The downward trendline is acting as resistance, but there are signs of a potential breakout above this trendline. The breakout target could reach 2,523, but it's important to note that the price may retest the support zone before moving higher. If the price breaks above the resistance trendline, consider opening a buy position with a take profit target at 2,523. At the moment, U.S. economic reports such as NFP data and FED speeches on interest rate policy are key factors directly impacting gold prices.
OANDA:XAUUSDLong
by Romio_pro
EURJPY Pressure: Support 159.552, Interest Rate ResistanceEURJPY is declining after hitting strong resistance at 163.000, causing a price pullback. The 34 and 89 EMAs are acting as resistance levels, adding selling pressure in the market. The MACD indicator shows that downward momentum is slowing, but there is no clear signal of a strong reversal yet. If the price holds above the 159.552 support and shows signs of recovery, investors may consider opening buy positions with a target around 161.000 - 162.000. Regarding news: Interest rate decisions from the ECB and BOJ will significantly impact EURJPY. Tightening from the ECB may push EUR higher, while BOJ's negative rates could weaken JPY.
Long
by Romio_pro
GBPUSD: Awaiting Rate Hike Signals, Trend Reversal RiskGBPUSD is currently in a short-term uptrend. The EMA 34 is above the EMA 89, indicating that buying pressure still dominates the market. The chart shows that the EMA 34 remains above the EMA 89, but if there is a downward correction, the EMA 34 could potentially cross below the EMA 89, signaling a bearish trend. The RSI (14) is currently at 52-54, suggesting that upward momentum remains but is close to the overbought region. If it surpasses 70, there might be a correction or a bearish reversal. If the price fails to break through the resistance level of 1.32800, GBPUSD might revisit the support level of 1.30600. Regarding news: Investors are awaiting interest rate signals from the Fed; if rates are increased, the USD will strengthen, putting downward pressure on GBPUSD. The BoE also faces pressure to adjust rates due to high inflation and the challenging economic conditions in the UK.
Short
by Romio_pro
EUR/USD Near 1.10300 USD Support, Short-Term Upside PotentialThe H3 chart of EUR/USD shows the price approaching a crucial support level around 1.10300 USD, a zone that has held firm previously and may trigger an upward move if unbroken. The 20 SMA is currently exerting downward pressure, but if the support holds, a short-term recovery is possible. The price is also trading near the lower Bollinger Band, indicating the potential for a bounce from this support level. Traders might consider buying near the 1.10300 USD support if clear reversal signals emerge. Market sentiment for EUR/USD is still influenced by economic and political factors from both the Eurozone and the U.S.
Long
by Romio_pro
USD/JPY Rises Strongly with EMA Support and BoJ PolicyThe USD/JPY pair is currently trading around 146.716, with an upward trend supported by the trendline. The chart shows that the EMA 34 is supporting the price, while the EMA 89 provides a support zone around 146. The EMA 34 crossing above the EMA 89 signals a short-term uptrend. The RSI is at 68.04, indicating that USD/JPY is nearing overbought territory. This could lead to a short-term correction as the price approaches the resistance zone. If the price breaks through the 147.300 resistance level, the upward trend could continue strongly, with the next target possibly at 148.286 or higher. As for news: The Bank of Japan (BoJ) continues to maintain its loose monetary policy, creating a significant interest rate differential between the USD and JPY, driving this currency pair higher.
Long
by Romio_pro
Gold Nears Peak, Awaiting Breakout at 2,530Gold prices rose in the Asian session on Thursday, nearing record highs as the dollar cooled ahead of key inflation data that could influence rate cut prospects. XAUUSD is in an uptrend, supported by the EMA 34 and EMA 89 lines. The price is currently fluctuating around 2,515, showing signs of a continued uptrend. Support 1 at 2,440 and Support 2 at 2,490 serve as key support levels. These levels align with the EMA lines, indicating strong support. The main resistance zone is around 2,530, where the price may struggle to break through. If this resistance is clearly breached, a strong breakout could occur, and the price may continue to rise to higher levels. A clear break above the 2,530 resistance could signal a good buying opportunity. The next target could be higher levels around 2,550 or beyond.
OANDA:XAUUSDLong
by Romio_pro
2
USD/JPY: Bearish Pressure Below 147.000 USD ResistanceThe H4 chart of USD/JPY shows the pair trading under a descending trendline with consecutively lower highs. The 34-day EMA currently sits at 145.707 USD, near the lower support level, serving as strong support if the price continues to decline. The MACD indicator shows divergence between the MACD line and the signal line, indicating weakening bullish momentum, reinforcing the likelihood of a price correction. Traders might consider selling if the price tests the resistance around 147.000 USD but fails to break through. A take-profit could be set near the 145.000 USD support with a stop-loss slightly above the previous high to minimize risk. On the news front: U.S. economic data, especially the upcoming Nonfarm Payrolls report, will significantly impact USD/JPY. Positive data could strengthen the USD, supporting the pair's bullish trend.
Short
by Romio_pro
XAUUSD Facing Resistance Pressure, Clear DowntrendThe 4-hour (H4) chart of XAUUSD shows a strong resistance at $2,500, where the price has repeatedly failed to break through, indicating dominant selling pressure. The 34-day EMA at $2,506, close to the current resistance, reinforces the short-term downtrend if the price cannot surpass this level. Current candlestick patterns also support the short-term bearish trend, especially as the price has tested and failed to break the $2,500 resistance multiple times. Regarding news: International economic and political factors, particularly U.S. labor data this week, will be key influencers on gold prices. If employment data is positive, the USD may strengthen, putting further downward pressure on XAUUSD.
OANDA:XAUUSDLong
by Romio_pro
US NFP: Gold Faces USD PressureGold is fluctuating within an upward channel but shows signs of adjustment from the upper resistance area. On the H4 chart, EMA 34 is above EMA 89, indicating a slight upward trend. However, the continuation of this trend depends on whether the price can bounce back from the support level. Gold may test the support area at $2,480. If this level holds, the price could recover to the resistance level of $2,530. Otherwise, it may continue to decline to $2,500. Regarding news: The US NFP report could significantly impact XAUUSD. If NFP is better than expected, the USD will strengthen, putting pressure on gold prices.
OANDA:XAUUSDShort
by Romio_pro
ADANIGREENADANIGREEN Resistance Line (Red): The upper red dashed line is acting as a resistance line, where the price has previously struggled to break through (as indicated by the red arrows). Support Line (Red): The lower red dashed line is the support level, where the price has bounced back up (as indicated by the green arrows). Possible Breakout Scenarios Bullish Breakout (Scenario 1): If the price breaks above the resistance line, the stock could potentially move higher towards the next resistance level around ₹3,050, as indicated by the dashed blue line with label "1". Bearish Breakdown (Scenario 2): If the price breaks below the support line, it could drop significantly, potentially moving towards the lower level around ₹400, as indicated by the dashed blue line with label "2". Scenario 1: Bullish Breakout Breakout Level: Around ₹2,000 to ₹2,050. 1First Target: ₹2,400 - This is the first level of resistance, where the stock previously faced selling pressure. Second Target: ₹3,050 - The upper resistance level, marked as "High" on the chart. This could be a medium-term target if the bullish momentum continues. Extended Target: ₹3,600 - If the momentum is strong and supported by increasing volume, the stock could potentially reach this level, which would be a measured move based on the height of the triangle pattern. Scenario 2: Bearish Breakdown Breakdown Level: Below ₹1,750. First Target: ₹1,400 - This is a key support level from the previous swing low, and it might act as a buffer before further decline. Second Target: ₹800 - This is a more substantial support level that aligns with previous significant lows in 2022. Extended Target: ₹400 - This is the lower extreme marked by the chart, which could be reached in a severe bearish scenario, possibly driven by a market-wide correction or negative news specific to the company. Stop-Loss Strategy: Bullish Trade: Place a stop-loss just below the breakout point, around ₹1,750, to protect against a false breakout. Bearish Trade: Place a stop-loss just above the breakdown point, around ₹2,050, to safeguard against a false breakdown. for MORE check in my Tv-id " in.tradingview.com " If You LIKE👌👌 MY Idea ......Boost.🔥🔥🔥.. its. "Disclosure : I am not Sebi-registered." This channel is for only educational purpose. Any profit/loss, I am not responsible. Before taking any trade on our charts / calls, please consult your financial advisors. Thanks🙏 epro-bullswings dt02/09/24
NSE:ADANIGREENLong
by asAMOLSUTAR
CASTROLIND Trade Analysis for Buy using Wyckoff methodWyckoff Story Prior to trading range we were in uptrend and then we have BC and CHoCH (Change of character). Let’s assume our bias is accumulation based on CHoCH as we don’t see lot of supply in the CHoCH. Down wave Analysis We can see that the volatility of the down wave is decreasing from Phase A to Phase C, confirming the accumulation Bias. Volume Analysis We have supply decrease from Phase A to Phase C indicating supply is being absorbed. Spring We have spring in Phase C Major Sign of Strength we have MaSOS in phase D with good volume indicating institutions are present in buying. Final View Bullish on the stock
NSE:CASTROLINDLong
by ksujit08
CASTROLIND Trade Analysis for Buy using Wyckoff methodWyckoff Story Prior to trading range we were in uptrend and then we have BC and CHoCH (Change of character). Let’s assume our bias is accumulation based on CHoCH as we don’t see lot of supply in the CHoCH. Down wave Analysis We can see that the volatility of the down wave is decreasing from Phase A to Phase C, confirming the accumulation Bias. Volume Analysis We have supply decrease from Phase A to Phase C indicating supply is being absorbed. Spring We have spring in Phase C Major Sign of Strength we have MaSOS in phase D with good volume indicating institutions are present in buying. Final View Bullish on the stock
NSE:CASTROLINDLong
by ksujit08
GVFILMS - Pole and Flag patternGVFILMS - Pole and Flag pattern Check out the latest chart on $GVFILMS! 📊 The stock is currently forming a classic Pole and Flag pattern—a strong continuation signal that traders love. After a sharp upward move (the pole), the price has been consolidating within a tight range (the flag), indicating potential for another breakout! 🚀 Keep an eye on this setup as it could signal a powerful upward move if the breakout confirms. This could be an exciting opportunity for those looking to ride the next wave. Let’s see how it plays out—follow along for more updates! #Trading #TechnicalAnalysis #StockMarket
BSE:GVFILM
by anbulin