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Technical Analysis

EURUSD: Confirming the bullish recovery trendEURUSD is moving around 1.1079 today and the bullish move seems to be still strong. On the analytical chart we can clearly see that EURUSD is on the rise of the uptrend with increasing confirmation highs and lows. The EMA 34, 89 are still giving good signals for the buyers and the price breached above these two EMAs so the continuation of the upward move is still preferred. Good luck to you, don't forget to leave your comments in the comment section.
Long
by Shivam_Signals
XAUUSD Analysis Today (August 20, 2024)Hello everyone, After a period of consolidation within an ascending triangle, gold has broken out and is now approaching the psychological level of $2,520. This is supported by the rising trend line and the bullish crossovers of EMA34 and EMA89, confirming the current bullish momentum. Based on the technical analysis, the uptrend of XAUUSD is likely to continue in the near term. The next target could be the strong resistance zone at $2,530. However, if there is a correction, the support zone at $2,505 will be the key price level to watch.
OANDA:XAUUSDLong
by Shivam_Signals
2
GBPUSD buyers can ignore pullback from one-month highGBPUSD snaps a three-day winning streak by easing from its highest level in a month as the US Dollar licks its wounds at the multi-month low. Despite this retreat, the Cable pair is still trading within a long-term upward trend channel and above important support levels. The positive signals from the RSI and MACD suggest that the Pound Sterling could still rise. The immediate support is a 10-day-old rising support line surrounding 1.2880, with further support at 1.2800 from the 50-SMA. If the price drops further, the next supports are at 1.2675 (200-SMA) and 1.2450 (trend channel bottom). On the upside, the GBPUSD pair’s ability to break through the yearly high and the upper trend channel near 1.3045-50 will be tested to keep buyers on the table. The 1.3000 level is also a key resistance point, with the potential to push towards 1.3100 and the mid-2023 peak of around 1.3145 later on. Overall, GBPUSD remains an appealing option for buyers, even if short-term gains slow down.
by MTradingGlobal
Barbeque NationTechnical Analysis: Over the past year, the stock has maintained stability without experiencing any significant price dips. Notably, the price has been trading close to the 21-day Exponential Moving Average (EMA), while gaining solid buyer momentum on the weekly chart. Buyer momentum on the monthly chart also appears positive, reinforcing the overall bullish sentiment. Additionally, trading volumes show a marked increase in buyer interest compared to previous years. Key Resistance Levels: Three resistance levels have been identified. A breakout and sustained movement above the first resistance level (R1) will be crucial in signaling stronger upward momentum in the years ahead. Potential Risks: The primary risk to the stock’s upward trajectory is the possibility of a broader market correction, particularly influenced by uncertainty in the index and geopolitical tensions, such as the ongoing conflict between Israel and Iran. Disclaimer: This analysis is intended for educational purposes and is not a recommendation to buy. It is important to learn how to recognize and understand patterns in stock movements.
NSE:BARBEQUELong
by sandeepbalachandran
Rising wedge portrays EURUSD buyer’s exhaustion ahead of US dataEURUSD is bouncing back after a big drop, as traders wait for the University of Michigan’s Consumer Sentiment Index and Inflation Expectations for August. This bounce reverses the previous day’s decline from the highest level of 2024 and moves off the bottom of a four-week bearish chart pattern called rising wedge. The RSI indicates that the recent price increase might continue, but the MACD suggests weakening buyer interest. For sellers to take control, they need to break below the wedge’s bottom line at around 1.0960 and the 50-SMA support at 1.0946. If they succeed, they might face challenges at the 200-SMA and an upward trend line near 1.0875 and 1.0830, respectively. After that, the price could drop toward the wedge’s theoretical target of around 1.0700. On the other hand, the 1.1000 level is attracting buyers, with the recent high of 1.1050 in sight. The top line of the wedge near 1.1055 could also act as resistance. Future resistance points include December and July 2023 highs near 1.1140 and 1.1275, and the 1.1200 level might provide a resting point for buyers. Overall, the EURUSD pair is struggling to gain momentum in a bearish pattern ahead of US economic data. Sellers need confirmation from both technical and fundamental factors to take control.
by MTradingGlobal
Gold buyers stay optimistic around mid-$2,400s within triangleGold has ended a two-day drop by bouncing off its 9-day Exponential Moving Average (EMA) within a symmetrical triangle pattern that's been forming for seven weeks. This bounce supports the idea that the Fed might cut rates, together with the positive MACD signals and the trend-favorable RSI line. The key levels to watch are the triangle's range of $2,475 to $2,393 and the 50-day EMA support at $2,391. If gold moves past $2,475, it could test an upward resistance line from early April, reaching around $2,498. After that, $2,500 will be an additional hurdle for the metal before potentially rising to $2,522 and $2,562, which are based on 50% and 61.8% Fibonacci Extensions of gold's moves from March to July. If gold falls below $2,391, it might drop to the late July low of about $2,353 and then to $2,350. There's also a strong support region between $2,293 and $2,285 from late April to June, which if broken, could push gold towards $2,200. Overall, gold is performing well due to positive technical indicators and concerns about possible US Fed rate cuts, supported by recent US inflation data.
OANDA:XAUUSD
by MTradingGlobal
ITC Flag & Pole patternThe stock has formed flag & pole pattern on the monthly chart. One can enter above 511 with a strict Stoploss of 422 Target 1 - 599 Target 2 - 640 Target 3 - 697 All levels are mentioned in chart. #LONGTERM TRADE #FUNDAMENTALLY STRONG STOCK #ITC What is your view please comment it down and also boost the idea this help to motivate us. All views shared on this channel are my personal opinion and is shared for educational purpose and should not be considered advise of any nature.
NSE:ITCLong
by JJJ-555
NZDUSD reverses from 200-SMA hurdle on RBNZ’s surprise rate cutNZDUSD dropped over 1.0% today, making the biggest move among major currencies. This happened because the Reserve Bank of New Zealand (RBNZ) cut its main interest rate by 0.25%, surprising markets which expected no change. As a result, the NZDUSD pair fell from a one-month high and struggled to break through a key resistance level, namely the 200-day SMA. Despite this, positive MACD and RSI indicators suggest that buyers may stay optimistic, as long as the price remains above a support line from late October 2023, currently around 0.5885. For the short-term, the quote could drop to the 0.6000 mark and potentially test a 23.6% Fibonacci support level around 0.5920. A drop below 0.5885 could push the pair towards its late 2023 low of around 0.5770. For a new buying opportunity, buyers should wait for the price to break above the 200-SMA resistance at about 0.6085. If successful, the next targets could be the 61.8% Fibonacci level and a significant resistance zone near 0.6170 and 0.6220. If the price stays above 0.6220, the 78.6% Fibonacci level around 0.6275 and a long-term resistance line near 0.6320 could be the next barriers for the bulls. In summary, while NZDUSD might see a short-term drop due to negative factors, the overall bullish trend is expected to continue.
by MTradingGlobal
1
100-SMA challenges Crude Oil buyers at three-week highWTI crude oil has ended its four-day rise as prices fall from their highest level since July 19, due to a slow start on Tuesday morning in Asia. The oil price has moved back from the 100-day simple moving average (SMA). Still, closing above the 200-day SMA, positive MACD signals, and a strong RSI suggest buyers might push prices past the $80.15 mark. If they succeed, the next resistance levels are around $81.40 and $82.50, which will be key for sellers to defend. If oil prices drop below the 200-day SMA support at $77.90, sellers might take control. If prices stay weak and fall below $77.90, they could move towards June and August lows of $72.40 and $71.70. If prices go below $71.70, they could reach the late 2023 low of $67.70. Overall, buyers are likely to stay in control, but the potential for price increases seems limited.
TVC:USOIL
by MTradingGlobal
CASTROLIND most important is 52week and six-year high breakout with volume rise and very important point is stock is retext & give a good support zone which is already broken resistant zone with h volume . targets are open on chart but .. respect to SL like me of discipline trader. share Dividend ₹ 4.50 /share ex-date 21 march Castrol India at near six-year high on Q4 profit jump Company has a good return on equity (ROE) track record: 3 Years ROE 45.9% holdings :-))) a) Promoters 51% b)FIIs & DIIs 27 % c) Public 22% for MORE check in my TradingView ID 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
NSE:CASTROLINDLong
by asAMOLSUTAR
USDJPY eyes another bear run, focus on Japan GDP, US inflationEarly Monday, the USDJPY has risen slightly above 147.00 after its first weekly gain in six weeks. This increase follows a rebound from a seven-month low. The rise is supported by a recovery in the RSI and positive signals from the MACD. However, the pair’s failure to defend a week-long bullish trend channel and its continued trading below the 50-bar Exponential Moving Average (EMA) still keeps bears hopeful. Additionally, a downward trend line from early July suggests that sellers still control the market. The USDJPY is likely to stay under pressure unless it can rise above a resistance line near 150.80. Currently, the 50-EMA and the lower end of the rising channel, around 147.85-90, are key levels to watch. The 150.00 level may offer additional resistance, and if the pair can surpass 150.80, it might target around 155.50. On the downside, immediate support levels to watch are 145.50 and 143.30. If the price falls further, the monthly low near 141.70 and the psychological level of 140.00 could come into play. If the USDJPY drops below 140.00, it might test the mid-2023 low around 137.25. While technical indicators suggest a bearish outlook for USDJPY, traders should be cautious due to upcoming economic data releases, including Japan’s Q2 GDP and the US Consumer Price Index (CPI).
by MTradingGlobal
Basic Chart Pattern is very effectiveHello Traders ! I ussually use basic chart pattern on my technical analysis. I think it's very useful for traders. Many trader still use it and CMT book still write and train it for many student in the world. Some chart pattern which I appreciate like as : 1/ Head and Shoulder 2/ 2 Top -2 Bottom 3/ Flag pattern 4/ Wedge Example, Gold chart (h1) as bellow, I use only 2 top-2 bottom to trade and you can see that it is very effective.
OANDA:XAUUSDEducation
by PhuThongTrader
4