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Supportandresistancezones

EURUSD bulls approach 1.0970 hurdle ahead of ECBEURUSD prints a four-day winning streak while refreshing the monthly high around 1.0915 as traders await the European Central Bank’s (ECB) monetary policy announcements on early Thursday. The Euro pair’s latest recovery takes clues from the US Federal Reserve’s (Fed) dovish halt, as well as the upbeat RSI and MACD signals. Adding strength to the upside bias is the quote’s successful trading beyond the 100-SMA. With this, the major currency pair is likely to extend the previous week’s recovery toward the 1.0970 resistance confluence comprising a downward-sloping resistance line from July and a 61.8% Fibonacci retracement of July-October fall. Apart from the 1.0970, the 1.1000 psychological magnet and the previous monthly high of around 1.1020 also act as additional upside filters, a break of which will allow the bulls to challenge the yearly peak of 1.1275 marked in July. On the flip side, the 50% and 38.2% Fibonacci ratios, surrounding 1.0865 and 1.0760 respectively, restrict the immediate downside of the EURUSD pair. Following that, the 100-SMA and the 50-SMA will challenge the Euro bears near 1.0750 and 1.0730 in that order. It’s worth noting, however, that a horizontal area comprising multiple levels marked since late May, close to 1.0670, appears a tough nut to crack for the pair sellers to break afterward. Overall, the EURUSD pair appears all set to poke the 1.0970 hurdle but the quote’s further upside hinges on the ECB’s hawkish move, which is less likely to happen.
by MTradingGlobal
DISNEY WDP on a Long term Support !Exciting Bullish Pattern Alert! 🐂 📊 Pattern: Falling Wedge 📌 Symbol/Asset: WDP DISNEY 🔍 Description: Stock is around long term support. Stock might not come around the same level again . Stock is also making falling wedge in a downside rally, so we can see huge momentum after falling wedge breakout !! We can expect minimum 200-400% returns in coming years !! 👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation.
XETR:WDPLong
by FiveCircles
MGL : Exciting Bullish Pattern Alert Exciting Bullish Pattern Alert! 📊 Pattern: Broadening Pattern 📌 Symbol/Asset: MGL 🔍 Description: Stock is about ti give breakout. If stock gives breakout then we can expect momentum after breakout. If resistance is not crossed then we can see fall upto support levels. 👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation. Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your risks appropriately.
NSE:MGLLong
by FiveCircles
1
AUDUSD bears have bumpy road ahead, 0.6460 is crucialAUDUSD remains pressured on early Monday, after snapping a three-week uptrend by the end of Friday. In doing so, the Aussie pair justifies its risk-barometer status as traders await this week’s key data/events comprising the US inflation, multiple PMIs and top-tier central bank meetings. In addition to the market’s anxiety, the bearish MACD signals and a downward-sloping RSI (14) line also favors the Aussie pair sellers in targeting a four-month-old horizontal support surrounding 0.6520-15. However, the quote’s weakness past 0.6515 appears difficult unless the bears manage to conquer the 0.6460 support confluence comprising the 100-SMA and a six-week-old rising support line. Following that, the pair becomes vulnerable to decline towards an area near 0.6360 that includes multiple levels marked since the mid-August. Meanwhile, the AUDUSD pair’s recovery needs validation from the 0.6600 and the scheduled catalysts to convince buyers. Even so, the 61.8% Fibonacci ratio of the pair’s June-October downside, close to 0.6660, will precede the monthly high of 0.6690 and the 0.6700 to test the Aussie bulls before giving them control. In a case where the quote remain firmer past 0.6700, the 78.6% Fibonacci retracement level of around 0.6770 and June’s peak near 0.6900 will be in the spotlight. Overall, AUDUSD is likely to remain pressured during the key week but the road toward the south appears long and bumpy.
by MTradingGlobal
Apollo Tyre is looking for an awesome BO #SuperChartzKey levels: Support: 415 CL Resisitance: 473, 514, 589 Description: Fundamental are very strong: The company's decision to reduce debt is a fundamental strength. It enhances financial stability, reduces interest expenses, and reflects a prudent financial management strategy. A consistent and healthy dividend payout of 40.6% indicates strong cash flow and financial confidence. This is attractive to income-focused investors seeking reliable returns from their investment. The increase in EPS from 6.25 to 7.4 signifies improved profitability. This growth reflects the company's ability to generate higher earnings, a fundamental indicator of financial health and efficiency. Technicals on chart is promising: Cup and Handle Breakout: The technical analysis reveals a Cup and Handle breakout on the daily chart, signaling a potential shift in momentum to the upside. This bullish pattern is often seen as an opportunity for traders to capitalize on potential price appreciation. Chart Momentum: The positive technical momentum is indicative of increased buying interest. Traders and investors may interpret this breakout as a signal to enter positions with the anticipation of upward price movement. Market Sentiment: The Cup and Handle breakout not only provides a technical entry point but also reflects positive market sentiment. This can attract additional investors seeking to benefit from the perceived bullish trend.
NSE:APOLLOTYRELong
by SuperChartz
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