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Technical Analysis

EURUSD: Stable parallel price channelHi everybody, Today, during Wednesday's Asian trading session, EUR/USD remained firmly above the key psychological mark of 1.0700. The US dollar weakened on weaker-than-expected April PMI data, which provided support for the pair. According to technical analysis from the chart: After bouncing from the lower boundary of the parallel price channel, the price is expected to resume the uptrend to test the resistance at 1,086, which is also the upper limit of the current price channel.
Short
by RKarina
Gold falls while the main trend is still up!Hello everyone, what do you think—should we buy or sell gold today? Gold is currently trading around 2,323 USD/ounce, with little movement since the beginning of the day and is continuing its downward trend. This weakness is largely due to tensions in the Middle East showing signs of easing and investors taking profits and reducing leverage in precious metals trades. This is a common phenomenon in the futures market when a commodity loses its price momentum, whether short-term or long-term. From a technical analysis perspective, gold's recent decline is just a correction after gaining about 22% in the past two months. This correction is still within the framework of a long-term uptrend. However, if gold continues to fall further this week, new short-term highs could be set. With current prices yet to surpass $2,300 an ounce, gold could soon recover thanks to buying at lower prices, supporting its long-term upward trajectory.
OANDA:XAUUSDLong
by RKarina
USDJPY todayThe USDJPY currency pair continued its impressive upward streak, breaking the 152,100 resistance and climbing to a new high of 154,900. This upward momentum is reinforced by strong technical indicators, forecasting an optimistic future. Careful analysis using the Fibonacci tool shows that this trend is not just random but can continue to 163,450, our first take profit point at the 1,618 Fibonacci level, consistent with the Dow Theory of Market trend. What an exciting journey! What are you planning now that USDJPY is on the rise? Please share your thoughts!
Long
by RKarina
Buy SDBL (Som Distilleries) Targets 20-30%Purchase SDBL within the price range of 250-275. Set targets at 300, 340, and 380, adjusting for the split by dividing by 5. If the price surpasses 390, the all-time high target will be adjusted to 440. Hold the investment for 3-4 months, specifically until the peak of summer. -------------------------- Company News:---------------------------------- In a post-market exchange filing on Wednesday, the liquor manufacturer announced that its Board of Directors will convene on Tuesday, April 2, 2024, to deliberate and sanction the sub-division/split of the company's existing equity shares. -------------------------- Company Overview:---------------------------------- SDBL stands out in the market due to its diverse range of alcoholic beverages, including beer, rum, brandy, vodka, and whisky. Notable brands under its umbrella include Hunter, Black Fort, Power Cool, Woodpecker, Genius, and Sunny. --------------------------Technical Analysis:-------------------------- The stock exhibits a pattern of rising during summers and cooling down in winters, indicating a potential for historical repetition. Backtesting over the last 3-4 years confirms this trend. --------------------------Fundamental Analysis:-------------------------- - Shareholding: Promoters' holdings increased from 34.5% to 34.73% as of December 2023. - Financial Performance: The company has sustained profitability over the last 2-3 quarters, with earnings averaging between 15-20 crores per quarter. Although there's a slight decline compared to June 2023, anticipating an upswing in prices following the June-July quarter results, potentially yielding returns of 20-30%. ------------------------------------------------------------------------------------------------------------ Imp. Note: This analysis is provided for informational purposes only and does not constitute a direct recommendation to buy or sell stocks. Investors should conduct their own research and consult with financial advisors before making any investment decisions, as market conditions and individual circumstances may vary. Market Risk: However, it's important to acknowledge the inherent risks associated with investing in the stock market, including but not limited to volatility, economic downturns, regulatory changes, and unforeseen events that can impact stock prices. It's crucial for investors to remain vigilant and diversify their portfolios to mitigate potential losses.
SLong
by NaveenTTR
3
GBPUSD: Recovering but price is still in the bearish channel!On Wednesday, during the first Asian trading session, the GBP/USD pair rose to 1.2450. Optimism from April's US PMI data and increased demand for risk assets have put the US Dollar under selling pressure, which in turn boosted the price of GBPUSD. Later in the day, US Durable Goods Orders and Weekly Mortgage Applications figures will be released. However, from a technical analysis perspective, although there have been signs of recovery, the price is still in a long-term downtrend because the price channel has not been broken and important support levels are no longer holding. solid. The price movement below the EMA 34 and 89 is still beneficial for sellers. Pay attention to the 1.252 area, as this could continue to be a seller's target for GBPUSD.
Short
by RKarina
AUDUSD approaches 200-SMA hurdle on strong Australia inflationAUDUSD rises to the highest level in a week, up for the third consecutive day, as Australia Inflation numbers for March defend hawkish bias about the Reserve Bank of Australia (RBA) and underpin the Australian Dollar (AUD) strength. However, the overbought RSI could join the 200-SMA hurdle of 0.6535 to cap short-term upside of the Aussie pair. Following that, a downward-sloping resistance line from early January, close to 0.6615 by the press time, will precede a 15-week-old horizontal resistance area surrounding 0.6640-45 to challenge the buyers. In a case where the quote remains firmer past 0.6645, the previous monthly high of near 0.6670 will act as the final defense of the bears. Meanwhile, the 23.6% Fibonacci retracement of the pair’s downturn from December 2023, close to 0.6480, put a short-term floor under the AUDUSD prices. Also acting as an immediate downside support is a one-week-long rising support line near 0.6460. It should be noted that February’s bottom of 0.6440 will act as an intermediate halt during the quote’s weakness past 0.6460 before targeting the yearly low marked the last week around 0.6360. Overall, AUDUSD justifies upbeat Australia inflation but the pair’s further upside appears challenging.
by MTradingGlobal
FASP levels for Nifty 24/04/2024The FASP for Nifty is listed for 24-04-2024. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:NIFTY
by SathishChandrasekaran
Gold price today: The downward trend has no endHello readers, What do you think about gold price developments today? Gold is currently trading at about 2,318 USD/ounce, down slightly by 0.17% compared to yesterday, equivalent to a decrease of nearly 5 USD at this time and is in a downtrend. This precious metal encountered a significant decline after investors took profits, unable to maintain the psychological level of 2,400 USD. Gold prices have fallen to their lowest level in more than two weeks due to reduced concerns about tensions in the Middle East, while the market is still waiting for important economic data to provide more clarity on the possibility and timing of a cut. reduce US interest rates. Recent comments from Federal Reserve officials suggest there is no urgent need to cut interest rates, reducing the appeal of gold, a non-yielding asset class. Traders predict that the Fed's first rate cut may not come until September, so gold prices may need more time to stabilize.
OANDA:XAUUSDShort
by RKarina
USDJPY: Still keeping ourselves in the high price zone!The Japanese Yen (JPY) is currently struggling to capitalize on any gains against the US Dollar, remaining near multi-decade lows. The Bank of Japan (BoJ) is not in a hurry to normalize monetary policy, while the US Federal Reserve (Fed) is forecast to keep interest rates higher for a long time due to persistent inflation. This reduces the appeal of the Japanese Yen as a safe haven. Meanwhile, the US Dollar (USD) continues to strengthen, supported by hawkish policy expectations from the Fed, although there is speculation that Japanese government intervention could limit gains. This. Upcoming decisions from the BoJ along with key economic indicators from the United States will be the key factors determining the short-term direction of the USD/JPY currency pair.
Long
by RKarina
Update the latest gold price today!Hello dear friends! Today, let's explore the latest developments in the gold market. As Tuesday's trading session began, we saw gold prices quickly decline. Currently, the price of this precious metal has decreased by about $26, fluctuating around $2300, which is down 1.08% over the day. This price decline followed after gold reached a peak of 2,400 USD, before entering the current correction. Easing fears of a broader conflict in the Middle East, coupled with the tech industry's rapid recovery on Wall Street, have caused gold to lose some of its appeal. Looking at technical analysis, gold's bearish outlook could continue on the daily chart. The next target could be a rendezvous with the 34 EMA and then a test of the lower bounds of the 89 EMA. This pullback is also in line with the Fibonacci levels of 0.5 to 0.618, where sellers have identified main stop. Now, I would like to return to you, investors and market lovers. Do you think we should join the buying side to take advantage of this opportunity, or should we side with the selling side and wait for the price to continue to fall? Please share your thoughts and let's make this conversation more interesting!
OANDA:XAUUSDShort
by RKarina
GBPUSD: Sellers Continue to Get the Advantage!Hello dear fellow travelers! What are your thoughts on the direction of GBPUSD? Current rumors suggest GBP/USD is moving cautiously, near 1.2350, which is the lowest level since mid-November, when Tuesday's Asian session first began. The USD index is consolidating its position above 106.10, while traders patiently await global PMI data from the US and UK for April, which has kept the direction of GBPUSD becomes vague and lifeless. However, a look at the chart shows that the pair is likely to resume its downtrend after the brief sideways period ends. GBPUSD remains on its old path below the 34 and 89 EMA pair. This consistency bodes well for bearish supporters, showing that the downtrend remains popular!
Short
by RKarina
EURUSD: Trend is unclear!Hi everybody, EUR/USD is approaching a key zone near 1.0650, after a fairly quiet Tuesday when the pair remained largely unchanged, awaiting a series of upcoming economic data. Both the US and the Eurozone are preparing for the release of Purchasing Managers' Index (PMI) figures next Tuesday, while key US figures will be released later. week, amid speculation about the possibility that the US Federal Reserve (Fed) will cut interest rates. In the current context, a triangle pattern may appear on the chart, and the possibility of a breakdown of this pattern is very high, leading to a clear change in either direction. While the 34 and 89 EMA lines are still not showing clear signals because they are located right in the current operating zone of EUR/USD, closely monitoring new information will be the key to determining the next trend. according to this currency pair. I am hoping for a positive development. How about you?
by RKarina
1
Gold price today: Decrease freelyHello everyone, what do you think about the gold price today? Recently, gold has experienced a significant price drop, from nearly 2400 USD to about 2311 USD, down nearly 65 USD compared to the previous day. So what has led to this sharp decline in gold prices? Global economic news: Before the June monetary policy meeting of the US Federal Reserve, the market temporarily eliminated expectations for interest rate increases until developments in the Middle East became clear. than. The reduction in geopolitical tensions in this region has increased selling pressure, causing a decline in gold prices. Market sentiment: Gold is considered overbought, leading to investors starting to sell off to relieve pressure and take profits after recent price increases. Technical analysis: The downtrend was confirmed when the downtrend line was successfully crossed. Resistance at $2400 remains intact as investors sell. Currently, gold is finding support at around $2305 and is likely to rebound slightly, but is likely to face new resistance at the Fibonacci retracement level between 0.5 and 0.618 (after the support level). 2345 USD broken). The target price of 2270 USD is the point that sellers are aiming for, especially when the psychological level of 2300 USD continues to weaken under strong selling pressure. I predict that gold prices will continue to adjust in the near future. How about you?
OANDA:XAUUSDShort
by RKarina
2
EURUSD seesaws within bear flag ahead of EU/US PMI for AprilEURUSD struggles to defend the previous week’s rebound from a yearly low as traders await preliminary readings of the Eurozone and the US PMI data for April. Apart from the pre-data anxiety, sluggish prints of the RSI (14) and the MACD signals also suggest a lack of momentum. Even so, the sellers appear hopeful as the major currency pair stays within a fortnight-old bear flag chart formation. Additionally favoring the Euro bears is the quote’s sustained trading beneath the 10-week-old horizontal region, previous support surrounding 1.0700-690, as well as a downward-sloping support-turned-resistance line stretched from late February, close to 1.0680 at the latest. Even if the major currency pair manages to defy the bearish chart formation by crossing the 1.0705 upside hurdle, the 200-SMA level of 1.0810 and a falling resistance line from early March, near 1.0840 as we write, will act as the final defense of the bears before giving control to the bulls. Alternatively, EURUSD sellers should wait for a clear downside break of the 1.0620 for fresh entry as it will confirm the bear flag chart formation. Following that, the monthly low of 1.0600 and the previous yearly low surrounding 1.0445 will act as buffers during the quote’s theoretical south-run suggesting 1.0315 as a target. It’s worth noting that early 2023 swing lows near 1.0515 and 1.0480 become extra downside filters for the bears to watch during the Euro’s theoretical fall between 1.0620 and 1.0315. Overall, EURUSD is likely to remain bearish unless crossing 1.0705. However, the sellers need strong US PMI, as well as too weak activity data from the bloc, to confirm the bear flag formation suggesting a major decline in prices.
by MTradingGlobal
EUR/USD turns south to 1.0650Hello everyone, it's RKarina again! EUR/USD has turned lower after rising in previous trading sessions, currently stabilizing around 1.0650 during the European session on Monday. The current trend of the pair is bearish, recorded at 1.064, because of increased demand for the US Dollar as a safe haven due to the decline in risk appetite. The market is currently very cautious due to the lack of important economic data from the EU and US. Lagarde's upcoming speech is highly anticipated. From a technical analysis standpoint, current signals favor a selling strategy, after the price has approached and failed to break through support, along with the formation of a double top. In the short term, it is expected that the 1,062 level will be retested after the current support level is broken by investors selling off.
Short
by RKarina
Update gold price at the beginning of the week!Hello everyone, let's explore the price movements of gold in the new week! At the beginning of the trading week, gold quickly adjusted downwards, losing nearly $23 in the first few hours of the Asian trading session. Currently, the price of gold is at $2369 and it is projected that in the short term, this metal may continue to decline after reaching the trendline and forming a descending triple top pattern. However, in the long term, gold still has an upward trend. The ongoing instability in the Middle East continues to drive the demand for gold as a safe haven asset to cope with political uncertainty. In terms of prospects and expectations for the week: This week, we should pay attention to economic data including new home sales figures for March released on Tuesday, durable goods orders for March on Wednesday, pending home sales, initial jobless claims, and preliminary Q1 GDP (including quarterly PCE) on Thursday, and March PCE on Friday. These will be crucial in determining the future movements of gold, so closely monitor them to stay updated on trading opportunities!
OANDA:XAUUSD
by RKarina
GBPUSD rebounds from Golden Fibonacci ratio, “Falling Wedge” eyeGBPUSD bears take a breather after a two-week downtrend as the quote bounces off the lowest level since mid-November 2023. In doing so, the Pound Sterling takes a U-turn from the 61.8% Fibonacci retracement of its run-up from October 2023 to February 2024, also known as the “Golden Fibonacci Ratio”, while justifying the traders’ consolidation ahead of this week’s key UK/US catalysts. That said, the oversold RSI line and a receding bearish bias on the MACD favor the quote’s further rebound, which in turn highlights the monthly falling wedge bullish chart formation. However, the pair’s successful trading beyond 1.2440 becomes necessary to lure the buyers. Even so, a 4.5-month-old previous support line and the 200-day Exponential Moving Average (EMA), respectively near 1.2545 and 1.2560, will be the key upside hurdles to test the Cable’s north-run. On the contrary, the aforementioned key Fibonacci retracement support restricts the immediate downside of the GBPUSD pair to around 1.2360. Following that, the stated falling wedge’s bottom line, near 1.2345 at the latest, quickly followed by the October 2023 peak of 1.2337, could act as the final defense of the Pound Sterling buyers before surrendering to the sellers. In that case, the 78.6% Fibonacci ratio surrounding 1.2220 will be in the spotlight before the late 2023 bottoms around 1.2070 and 1.2037. Overall, the GBPUSD pair’s corrective bounce appears overdue but the road toward the north will be long and bumpy.
by MTradingGlobal
How does gold price move today?Global gold prices have witnessed a significant price increase due to ongoing tensions in the Middle East, despite positive economic data from the US. The escalation of tensions, with Israel expressing its intention to respond to attacks from Iran, has ignored calls for restraint from the West. In this context, with the continued increase in geopolitical instability, gold prices are likely to continue to rise towards the $2,500 mark. The precious metal is currently moving towards the 1.618 Fibonacci price level, an important profit-taking point, in line with Dow Theory predictions.
OANDA:XAUUSDLong
by RKarina
EURUSD: Maintaining short-term price upward channelHello dear traders! EUR/USD has recovered momentum and now sees positive growth, surpassing 1.0650 today. This upturn was a result of the earlier reduction in flight to safety, pressuring the US dollar as the week ended, thereby boosting the pair. However, EUR/USD's upward momentum may only last in the short term because it has not yet surpassed the two EMA lines and the resistance level at 1.073. As long as trading remains below this level, EUR/USD will still face significant challenges ahead.
Long
by RKarina
Gold followed up with jumpsHi everybody! Let's look back at gold price developments last week and prepare plans for next week! Last week saw an explosion in gold prices, when it reached a record high of 2,431 USD/ounce before cooling down and stabilizing at around 2,400 USD/ounce. By the end of the week, prices had ended at $2,392 per ounce, up 0.55% on the day. The main factors driving gold prices to increase sharply include: the conflict situation in the Middle East continues to be tense; Fed Chairman Jerome Powell and other officials believe there is no need to further reduce interest rates; and in particular, China's strong buying has facilitated gold in conquering new peaks. In terms of technical analysis, gold is still supported by the factors mentioned above. This precious metal is currently trading above the two exponential moving averages EMA 34 and EMA 89, which continues to support investors buying. Gold is maintaining its current trend, trading above the Trendline and it is important to watch for any buying opportunities when the price re-touches the Trendline and check the stability of these two EMAs. Please continue to monitor and prepare a reasonable strategy to take advantage of opportunities in the gold market next week. Wishing everyone a happy and successful weekend!
OANDA:XAUUSDLong
by RKarina
Gold prices increased at the end of the weekToday, on the last trading day of the week, gold prices increased sharply to nearly 35 USD, reaching a high of 2,418 USD before stabilizing at 2,410 USD at the time of reporting. Gold's upside was sustained by a recovery from the 34-day moving average (EMA 34), with technical factors continuing to support the price. Many investors believe that gold is receiving strong support as a safe haven, because tensions are increasing in the Middle East. If the conflict continues to escalate, gold prices are likely to reach 2,500 USD in the near future.
OANDA:XAUUSDLong
by RKarina