NZDUSD bulls eyes 0.6400 as RBNZ surprises marketsNZDUSD extends the early March’s bearish consolidation inside a three-week-old ascending trend channel as RBNZ announces the 11th consecutive rate increase. More importantly, the New Zealand central bank pleases the Kiwi bulls to renew the 7-week top by a surprise 0.50% rate hike versus the 0.25% expected. It’s worth noting, however, that the RSI conditions approach overbought territory and hence a horizontal area comprising tops marked during early February, surrounding 0.6390, appears a tough nut to crack for the NZDUSD buyers. Also acting as an upside filter is the late January swing low near 0.6415, a break of which can propel prices towards the YTD high marked in February around 0.6540.
Meanwhile, sellers need validation from the previous resistance line stretched from early March, around 0.6305, as well as the 0.6300 round figure, to retake control. Even so, a convergence of the stated channel’s bottom line and the 200-SMA, close to 0.6210, restricts the short-term NZDUSD downside. Also acting as immediate downside support is the 0.6200 round figure. In a case where the Kiwi pair remains bearish past 0.6200, the 0.6150 and 0.6130 levels mark probe the sellers before directing them to the yearly low of around 0.6085.
Overall, NZDUSD suggests the continuation of a three-week-old zig-zag run-up unless the US data surprises traders.
Supportandresistancezones
BANKNIFTY LEVELS 05/04/2023BANKNIFTY ANALYSIS WITH LOGIC:
1. Considering same levels price must retest 40690 level with 15m bullish candle. then only we will take long side position up to 41260.
2. Don't expect big movement on today intraday session.
3. Consolidation may occur try to maintain trailing stoploss for buyers,
4. If price breaks 40690 level downwards, we can short up to 40420 level.
Have a safe and profitable trading :)
AUDUSD approaches key resistances on RBA dayAUDUSD stays within a three-week-old bullish channel, poking the upside hurdle, on the RBA day. It’s worth noting that the 200-EMA adds strength to the top line of the state channel, around 0.6815-20 by the press time. Given the firmer oscillator, the bulls are likely to keep the reins. However, a clear upside break of the 0.6820 hurdle becomes necessary for the buyers to aim for the last December’s peak surrounding 0.6895, as well as the 0.6900 round figure. Should the quote remains firmer past 0.6900, the mid-February high of around 0.7030 can act as an intermediate halt during the likely run-up towards challenging the year 2023 peak of 0.7157.
Meanwhile, a downside break of 0.6665 defies the stated bullish channel and can quickly drag the AUDUSD bears towards challenging the monthly low of near 0.6563. In a case where the Aussie pair remains weak past 0.6560, the 78.6% Fibonacci retracement of the pair’s run-up from early November 2022 to February 2023, close to 0.6450, may act as the last defense of the buyers before giving control to the sellers.
Overall, RBA’s dovish hike should teases sellers but the Aussie pair’s trading within a bullish chart formation requires the trigger for the AUDUSD bears to retake control, which in turn highlights the 0.6665 support.
BANKNIFTY FUTURE INTRADAY LEVELS FOR TOMORROW 3RD APRIL 2023#BankNifty Future Analysis for #Tomorrow 3rd April 2023
As per our #analysis for #BankNiftyFuture, we are expecting these below mentioned Intraday levels tomorrow, kindly check the charts on 15 min time frame and act accordingly.
Previous Close (ZERO LINE) : 40833
# BankNifty Bulls can get active above 40917 For the #IntradayLevels towards 41062/41173/41277/41356
# BankNifty Bears can get active below 40761 For the #IntradayLevels towards 40657/40553/40440/40331
Disclaimer : All the provided levels are for #educational purpose only, please do your own analysis before doing any trade in the live market or consult your #financial advisor before act.
Follow Us For More #Updates in Future
USDJPY attracts bullish bias till it stays above 131.00USDJPY marked the first weekly gain in five while luring bulls to cross the 100-bar Exponential Moving Average (EMA). The upward trajectory could also be witnessed by a one-week-long ascending trend channel, as well as a successful break of a downward-sloping trend line from early March. The RSI retreat, however, challenges the Yen pair buyers of late. That said, the 100-EMA and the stated channel’s lower line, respectively around 132.60 and 132.10, restrict the quote’s short-term downside. It should be noted that a three-week-long previous resistance line, around 131.00 by the press time, appears the last defense of the bulls.
On the other hand, the stated channel’s top line, close to 133.90, caps the immediate upside of the USDJPY pair. Following that, the mid-March high of 135.10 and the late February swing low surrounding 135.25-30 can check the pair buyers. In a case where the Yen pair buyers hold the reins past 135.30, the odds of witnessing a fresh Year-To-Date (YTD) high, currently around 137.90, can’t be ruled out.
Overall, USDJPY is back on the buyer’s radar after a four-week absence. The bulls, however, have a bumpy road towards the north.
BANKNIFTY LEVELS 03/04/2023BANKNIFTY ANALYSIS WITH LOGIC:
1. Considering new levels, if there's flat opening price will gets reversal from 40690 level upto 40420 level. if there's any rejection from 40420 level with bullish candle then only, we will take long position up to 40690 level.
2. If there's is gap up in price it should from 15m bullish candle above 40690 level and if there's any rejection from 50% of first candle formation. we can take long position up to 41260 level.
3. Nifty is stronger when compared to bank nifty.
4, Maintain trailing stoploss while placing trades.
Nifty AnalysisHistory repeats itself and that is also true for the stock market technical analysis . In fact, much of the technical analysis revolves around historical patterns which repeats themselves time and again. We will discuss one such pattern in this analysis.
Friday was a big day. Market opened with a gap and trended on the upside. How often has this happened in the background? I have gone not far back but till October 2021.
In the last 1.5years I have looked for a few criteria. Market must be trending down that is, forming lower lows and lower highs. Market must break a minor or major swing high with a huge gap. The gap day must be 1.5% or higher in length and close strong (near the high of the day).
I have found that these conditions were met only three times.
The first was in May 2022. Market broke a minor structure at A with large gap and closed strong. But it could not follow through and just managed to fill a bearish gap on the left. Although there was a potential double bottom in the left, yet it just retested the breakout level and broke down to new lows.
The second such event happened in July 2022 at B. Market broke a larger swing high with same conditions as above and rode vertically up to a previous resistance level . It was hell of a ride without any retest (which lately happed in September 2022).
This rare pattern has repeated for the third time on last Friday. All the previous conditions were met.
Now the question is that, can this event lead to a reversal or it is just another support bounce from September 2022 lows?
I would say that the break of a minor structure point does not necessarily means a change in trend. Perhaps it would be too early to announce trend reversal.
However, I do not negate some follow through till the gap zone on the left (17500-600) which will be the first area that may offer strong resistance to the market (as it did at A).
Market needs to retest in order to check the strength of buyers and break above 18135 levels (which may take some time) to further clarify its desired direction.
Thanks for reading.
Do like for more such analysis in the future.
EURUSD grapples with 1.0930 hurdle ahead of EU, US inflation EURUSD braces for the biggest weekly gains since early January even as it eases from a 2.5-month-old horizontal resistance area surrounding 1.0930 ahead of this week’s top-tier data, namely the Eurozone and US inflation clues. That said, a fortnight-long ascending support line joins firmer oscillators to keep Euro pair buyers hopeful of crossing the critical upside barrier holding the key for the quote’s run-up towards challenging the yearly top surrounding 1.1035. In a case where the pair remains firmer past 1.1035, which is less likely considering the RSI (14) line’s nearly overbought conditions, the 61.8% Fibonacci Expansion (FE) of its November 2022 to March 2023 moves, near 1.1200.
On the contrary, pullback moves need to break the immediate two-week-old support line, close to 1.0840 at the latest, to lure intraday EURUSD sellers. Even so, a convergence of the 50-DMA and 23.6% Fibonacci retracement of November-February upside, near 1.0730, can put a floor under the price. Following that, the 100-DMA, the monthly low and January’s bottom, around 1.0615, 1.0515 and 1.0480 in that order, may act as the last defenses of the pair buyers, a break of which could hand over control to the bears.
Overall, EURUSD is on the bull’s radar and is very much capable of refreshing the yearly top. However, it all depends upon today’s inflation data and hence Euro bulls should wait for the actual data before taking any major positions.
BANKNIFTY LEVELS 31/03/2023BANKNIFTY ANALYSIS WITH LOGIC:
1. If there's gap up on tomorrow session price should from bullish candle at 40390 level. From that level we can set our targets up to 41300 level.
2. if there's gap down or flat opening we must wait until the price reaches to 39645 level and should retrace from that point so that we can take long positions up to 40390 level.
3. Bank nifty is stronger when compared to nifty. maintain trailing stoploss while placing orders.
4. Don't take any short positions on today intraday session.
Have a safe and profitable trading :)
Gold inks bullish consolidation inside key rising trend channelGold price seesaws around the top line of a five-month-old bullish channel, recently supported by the 10-day EMA. It’s worth noting, however, that the smaller gap towards the north joins descending RSI (14) line and easing bullish bias of the MACD signals to keep XAUUSD sellers hopeful. However, a clear downside break of the 10-day EMA, around $1,955 by the press time, becomes necessary to convince intraday sellers. Even so, the $1,900 round figure and a horizontal area comprising multiple levels marked since early February, near $1,860, could restrict the metal’s further downside. In a case where the commodity remains bearish past $1,860, the stated channel’s lower line and the 200-day EMA, respectively near $1,841 and $1,825, act as the last defense of the buyers.
On the contrary, the $2,000 psychological magnet keeps restricting the short-term upside of the Gold price, a break of which could push XAUUSD bulls towards the 61.8% Fibonacci Extension of the metal’s moves between November 2022 and late February 2023, close to $2,017. Should the precious metal remains firmer past $2,017, the aforementioned channel’s resistance line, close to $2,021, may become the only hurdle between the bulls and the previous yearly top surrounding $2,070.
Overall, the Gold price stays inside a bullish chart formation despite having limited room towards the north.
AUDUSD bulls slowly tighten grips on Australia inflation dayFollowing its bounce off YTD low, the AUDUSD pair crossed an important resistance line from early February, now support. The Aussie pair’s further advances, however, remained gradual and portray a 13-day-old bullish channel. That said, the quote picks up bids inside the aforementioned bullish chart formation ahead of Australia’s monthly Consumer Price Index (CPI) data for February. Given the likely easing inflation pressure in the Pacific major’s economy, the 200-bar Exponential Moving Average (EMA) hurdle of around 0.6740 gains attention ahead of the stated channel’s top line, close to 0.6760. It’s worth noting that the mid-February swing high surrounding 0.6785 acts as the last check for the Aussie pair buyers.
Alternatively, a downside break of the 0.6640 support, comprising the lower line of the bullish channel, could quickly drag the AUDUSD price towards the resistance-turned-resistance line from early February, close to 0.6575. It’s worth noting that the Aussie pair’s weakness past 0.6575 can witness a bumpy road as the yearly bottom of 0.6562 and the last October’s peak near 0.6545 may challenge the bears afterward.
To sum up, AUDUSD forms a bullish chart pattern and a bumpy road toward the south as traders analyze Australian inflation data.
BANKNIFTY LEVELS 29/03/2023BANKNIFTY ANALYSIS WITH LOGIC:
1. Considering the levels if there's flat opening mostly, we can see range bound market in between 39362 - 39690 levels.
2. If there's gap up above 39690 price should form 15m bullish candle at that level, then only we will take long position up to 39960 level.
3. If there's gap down price should reach 39150 level should get reversal from that point then only, we can see strong upside movement upto 39960 level.
4. Maintain trailing stoploss according to your comfort.
Have a safe and profitable trading :)
USDJPY drops within falling wedgeUSDJPY struggles to defend the first positive week in five, grinding lower inside a falling wedge bullish chart formation. It should be noted that the bullish MACD signals and upward-sloping RSI (14) line, not overbought, keep buyers hopeful despite the latest weakness of the Yen pair. However, a sustained break of the 50-SMA hurdle surrounding 131.85 becomes necessary for the Yen pair buyers to retake control. Following that, the 200-SMA and the monthly high, respectively near 134.00 and 137.95, could probe the quote’s advances during the run-up to achieve the theoretical target of around 139.85.
On the flip side, an ascending support line from mid-January, near 130.60 at the latest, restricts the short-term USDJPY downside, if the Yen pair defies the latest bullish breakout by dropping back below the 131.40 resistance-turned-support. In a case where the pair remains weak past 130.60, the 130.00 round figure and the latest swing low around 129.70 may entertain sellers before challenging them by the stated wedge’s lower line, close to 129.20. It should be noted that the quote’s weakness past 129.20 makes it vulnerable to declining toward the yearly low of 127.21, marked in January.
Overall, USDJPY consolidates the monthly losses and is likely to regain the buyer’s confidence in the next month.
BANKNIFTY LEVELS 28/03/2023 BANKNIFTY ANALYSIS WITH LOGIC:
1. If there's flat opening and moves downwards price should retest 39130 level should form 15m bullish candle. Then only we will take long positions up to 394645 level by maintaining trailing stoploss.
2. Maximum range boundness can be seen during today intraday session on bank nifty.
3. If there's gap up price should sustain above 39465 level should form 15m bullish candle by retesting the level, then we can take long position up to 39770 level.
4. If trading in options, try to take ITM call options for better edge.
Have a safe and profitable day :)
GBPUSD bears flex muscles despite recent reboundGBPUSD confirmed a rising wedge bearish chart pattern on Friday, despite posting another weekly gain and marking an intraday run-up of late. However, the absence of an oversold RSI suggests that the Cable pair could drift lower. That said, the 50-SMA and a two-month-old previous resistance line, respectively near 1.2200 and 1.2170, can restrict the short-term downside of the pair before directing it to the 200-SMA support level surrounding 1.2070. It’s worth noting that the quote’s weakness past 1.2170 makes it vulnerable to visit the multiple supports marked since mid-February around 1.1920-10, a break of which won’t hesitate to approach the theoretical target near 1.1730.
Meanwhile, GBPUSD recovery remains elusive unless the quote stays below the stated wedge’s lower line and 78.6% Fibonacci retracement level of the pair’s fall between late January and early March, around 1.2300 by the press time. Following that, the monthly high of around 1.2345 could test the Cable pair buyers. In a case where the quote remains firmer past 1.2345, multiple hurdles could test between 1.2400 and 1.2430 will precede the yearly high of around 1.2450 to challenge the pair’s upside momentum.
Overall, GBPUSD is likely to witness further downside but the road toward the south appears long and bumpy.
BANKNIFTY LEVELS 27/03/2023BANKNIFTY ANALYSIS WITH LOGIC:
1. Considering the new levels if there's gap up price should retest 39365 level with 15m bullish candle. Then only we will take long positions up to 39800 level.
2. Don't expect fast movement market will be less volatile when compared to Friday session.
3. If there's gap down price should retest 39365 level with strong bearish candle. Then only we will short our positions up to 39130 level.
4. If price crosses 39130 level, we can expect sharp down fall movement.
5. Later will update new levels if there's gap down in price.
Have a safe and profitable day :)
DOT/USDT Swing TradePolkadot is near support zone on hourly chart, we can take a small swing trade here.
Entry:
We can go long after close of strong bullish candle near support zone.
Stoploss:
We can keep the stoploss below the support zone.
Target:
We can keep the target near the next resistance zone.
Thank You, Please give a Like & Follow me.
Gold has smoother road towards the northGold teased bears earlier in the week by defying the bullish channel but the follow-on bounce off the $1,934-36 zone renewed buying interest in the yellow metal. However, a clear upside break of $2,000 becomes necessary for the XAUUSD buyers for conviction. Also acting as an upside filter is the aforementioned channel’s lower line, close to $2,011 at the latest. Following that, a run-up toward the previous yearly high of around $2,070 can’t be ruled out.
Meanwhile, a one-week-old horizontal support zone near $1,934-36 puts a floor under the Gold price, a break of which could quickly recall the $1,900 threshold on the chart. However, a convergence of the 200-EMA and six-week-old horizontal region surrounding $1,890-85 appears a tough nut to crack for the bears. Should the bears keep the reins past $1,895, the early-month swing high of near $1,854 can flash on their radars.
Overall, the Gold price may keep grinding higher as promising oscillators join the metal’s hesitance in declining.
BANKNIFTY LEVELS 24/03/2023BANKNIFTY ANALYSIS WITH LOGIC:
1. If there's gap down in between 39770 - 39455 levels, there will be some consolidation and if the price breaks 39455 level with strong 15 min bearish candle we can expect fall up to 39130 as our first target.
2. If it continues to fall down, we can move our positions up to 38940 as a second target.
3. If there's upward movement. price will get reversal from 39770 then only, we will take short position from that level.
4. Range boundness can be seen in between these 39770- 39455 levels.
Have a safe and profitable trading :)
BANKNIFTY LEVELS 23/03/2023 BANKNIFTY ANALYSIS WITH LOGIC:
1. If there's flat opening price should test 39770 level. Then only we will plan buy side unto 40330 level.
2. Maximum range boundness can be seen during first half. We can expect strong movement from second half.
3. If there's gap down price should form strong 15m bearish candle below 39770 level therefore we can short our positions up to 39455 level.
4. Buyers try to take itm options during trade. Don't carry forward positions for overnight.
Have a safe and profitable trading :)