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Technical Analysis

GBPUSD: Is this week's trend up or down?RKarina sends greetings at the beginning of the week to everyone, wishing you all a smooth and exciting trading week. Currently, GBPUSD is maintaining a fairly stable price around 1.266, recording a 0.08% recovery during the day. The GBP/USD pair has formed a good recovery on Friday from the level of 1.2600, which has been a low point for a week and a half, and has attracted some positive momentum. In terms of trends, GBPUSD is still in a sideways state, but in the short and medium term, it seems that the buying side is holding strong with price increases after this currency pair tested the 34 and 89 EMA lines and continued to move up. My goal for this week is for GBPUSD to continue rising with two main targets, namely 1.270 and 1.276. What about you? Do you have a goal for an increase or decrease in price?
Long
by RKarina
GBPUSD bulls jostle with multi-month-old resistance lineGBPUSD rose to the highest level in a month the previous day but failed to offer a daily closing beyond a downward-sloping resistance line from July 2023. In addition to the inability to cross the key trend line resistance, softer prints of the UK PMIs and sluggish MACD signals also challenged the Cable pair buyers. However, the quote’s capacity to remain firmer past the 200-bar Exponential Moving Average (EMA) and the firmer RSI (14) line push back the bears. Hence, the Pound Sterling bulls are likely to keep the reins and can overcome the immediate resistance line, close to 1.2700 by the press time, but its further advances need validation from the late 2023 swing high of around 1.2830 and the MACD signals to confirm the bullish trend. In that case, tops marked on July 23 and 13, respectively around 1.3000 and 1.3140, will be in the spotlight. Meanwhile, the GBPUSD pair’s pullback moves remain elusive beyond a one-month-old rising support line, close to 1.2600. Following that, the Cable bears will need confirmation from the 200-EMA level of 1.2530 on a daily closing basis to retake control. Should that happen, the quote’s gradual downward trajectory toward highs marked in November and October of 2023, around 1.2430 and 1.2335 in that order, can’t be ruled out. Overall, the GBPUSD pair remains on the bull’s radar despite the latest struggle with the key resistance line. Apart from the technical details, the cautious mood ahead of the US ADP Employment Change and Fed Chair Jerome Powell’s Testimony also appear crucial to determine near-term moves of the Pound Sterling.
by MTradingGlobal
USDJPY bulls struggle but bears need validation from 149.00USDJPY reverses the first weekly loss in five while printing mild gains around 150.50 early Tuesday. In doing so, the Yen pair seesaws near a three-week-old horizontal resistance surrounding 150.90-151.00. It’s worth noting that the lackluster RSI and sluggish MACD signals suggest further grinding of the quote below the stated key resistance. The bearish momentum, however, appears less likely until the prices stay beyond a convergence of the 200-SMA and a two-month-long rising support line, close to 149.00. Apart from the 149.00 support confluence, January’s high of near 148.80 will also try to challenge the Yen pair sellers before giving them control. Meanwhile, an upside break of the 150.90-151.00 resistance region will allow the USDJPY buyers to aim for the double tops marked during late 2022 and 2023 near 152.00. It should be observed that the Yen pair’s run-up beyond the 152.00 hurdle highlights the 160.00 psychological magnet and the year 1990 peak of around 160.40 for the bulls. In that case, the overbought RSI line and likely adjustments in the Bank of Japan’s (BoJ) monetary policy will challenge the pair’s further upside. Overall, the USDJPY pair’s upside momentum runs out of steam but the bearish move is yet to gain acceptance and hence needs validation from the key support of near 149.00, as well as the US/Japan fundamental catalysts scheduled for publishing during this week.
by MTradingGlobal
FASP levels for Nifty 05/03/2024The FASP for Nifty is listed for 05-03-2024. 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
USDCHF extends pullback from 15-week high as the key week beginsUSDCHF stays pressured toward 0.8800 early Monday as traders await the key Swiss inflation data, namely the Consumer Price Index (CPI) for February, as well as this week’s Testimony from Fed Chairman Jerome Powell and US employment report for the last month. In doing so, the Swiss Franc pair extends the previous day’s retreat from the highest level since mid-November while reporting a failure to cross a horizontal region comprising multiple levels marked since October 19 and the 200-SMA. Given the bearish MACD signals and the upbeat RSI conditions, the latest pullback is likely to extend, which in turn highlights the 0.8770-65 support zone encompassing the 100-SMA and an upward-sloping trend line from late December. Should the quote manage to break the 0.8765 support, January’s peak of 0.8728 will act as the final defense of the buyers. Meanwhile, the USDCHF pair’s recovery needs validation from the firmer Swiss inflation data and the 200-SMA, close to 0.8835 at the latest. Even so, the aforementioned multi-day-old horizontal area near 0.8885-8910 will be a tough nut to crack for the pair buyers before retaking control. It’s worth noting, however, that the quote’s sustained trading beyond 0.8910, backed by Fed Chair Powell’s dovish tone and downbeat US jobs report, could help the quote cross the 0.9000 psychological magnet to aim for the November 2023 peak surrounding 0.9110. Overall, USDCHF is likely to extend the latest retreat but the pair’s downside appears to have a little room towards the south.
by MTradingGlobal
Gold price increased dramatically at the end of the week!Hello dear friends, let's review the gold prices of the past week and discuss new strategies for the upcoming week with Kevin! During the beginning of the week, gold prices remained relatively stable, mainly moving sideways around the $2030 mark with a resistance level at $2035. However, in the last two days of the week, gold gained strong buying momentum and broke through some significant resistance levels, continuously rising from $2025 to $2088 and currently pausing at $2082. The international financial market has received economic updates from major economies such as the United States, Europe, and China. As a result, investors have been actively buying precious metals to protect their capital, pushing gold prices to the highest level in months. Looking ahead to the next week's strategy: Based on chart analysis, gold has surpassed the $2065 resistance level and is approaching $2090, but it is encountering some limitations as indicated on the chart. It is expected to experience a slight retreat as the new trading week begins, with a projected range of 0.5 - 0.618 Fibonacci retracement (which means testing the new support area around $2065 and testing the 34 and 89 EMA lines as the price has gone too far). Wishing you all successful and enjoyable trading!
OANDA:XAUUSD
by RKarina
EURUSD: Critical support level 1,080 remains strong!Hello everyone, let's discuss the new weekly strategy for EURUSD with RKarina! Yesterday, EURUSD continued to maintain a fairly stable trading level around the psychological threshold of 1.080. The currency pair received support once again from the 1.080 level, as it bounced back after touching this threshold. It seems that the buyers are still making efforts to protect this support level and demonstrating their notable strength. Currently, EURUSD has temporarily paused trading at 1.083 and is approaching a nearby resistance level. There is a high possibility of an increase in price as long as the 1.080 support level remains intact.
Long
by RKarina
Ethereum Long Term Analysis!Ethereum Long Term Analysis! Ethereum Monthly Analysis! Bearish Pennant PAttern formation in Ethereum on Monthy Timeframe! If price breaks and closes below trendline support we can see further downmove in Ethereum Ethereum is forming Bearish Pennant pattern. We can see a sharp downmove in Ethereum from 1 dec 2021 after that price is moving in that way like it is forming a Triangle. So the pattern is established. Many of us won't believe for a Ethereum to move this much downward upto 456.75USD. But it's all about Technical Analysis and Pattern identification. I have identified this pattern on Monthly Timeframe. This is how we identify pattern on various timeframe. Greater the timeframe more reliable it would be, So i have done my analysis on Monthly timeframe to predict long term move of an Ethereum. Crypto is very uncertain instrument so we can't imagine how it will move, right? But this is how we perform technical analysis! That's all i have to say! The downward possible target for an Ethereum is 456.75 USD!
CRYPTO:ETHUSD
by Avinash9087
2
AU Small Finance Bank Analysis! NSE:AUBANK Weekly Analysis! Double Top Pattern Formation is AUBANK! Double Top Pattern breakout in AUBANK! RSI Divergence! AUBANK crossed 50,100 and 200 EMA, will is leads towards further downtrend? Analysis:( Only for Pattern Analysis ) NSE:AUBANK formed Double Top Pattern on a Weekly time frame. We can clearly see on the chart that previous trend was uptrend and Double Bottom ideally formed after an uptrend so it's a valid scenario to be move ahead with the Double Bottom or M Pattern. I have done complete analysis on the chart so please have a look on it. Trade Psychology and Setup: Entry = Current levels are not good for short(570-580) Target = 495.70 Stop Loss = 674.95 Disclaimer = All my analysis is for Educational Purposes only. Before entering into any trade - 1) Educate Yourself 2) Do your research and analysis 3) Define your Risk to Reward ratio 4) Don't trade with full capital
NSE:AUBANKShort
by Avinash9087
EURUSD: Pay attention to defending 1.0800Hello dear friends, it's RKarina here again! What do you think about the next trend for this currency pair? EUR/USD remains stable, hovering around the 1.0850 level, especially after Tuesday's trading session, which saw minimal momentum for this currency pair due to a larger-than-expected drop in durable goods orders in the US for January. Now, all attention is focused on the upcoming release of US Gross Domestic Product (GDP) data on Wednesday. From the chart: EURUSD is currently in a corrective phase, facing downward pressure from sellers as it approaches the resistance level at 1.0888. The current support level is set at 1.079, with a notable possibility of price recovery in this area. Within the range of 0.5 - 0.618, buyers are closely monitoring this zone for opportunities to maneuver and compete in this currency pair.
Long
by RKarina
Gold price on the weekend of trading weekend!Hello everyone, let's strategize for the new day with RKarina! It can be observed that yesterday afternoon, the price of gold increased significantly, surpassing the important resistance level at 2035 USD and approaching the level of 2050 USD before stabilizing around the 2045 USD range in the first half of today. In line with this, the core PCE of the United States decreased from 2.9% to 2.8% compared to the same period last year. The annual overall inflation rate also decreased sharply from 2.6% to 2.4%, in line with expectations. This data confirms that the process of inflation reduction continues, causing a decrease in US Treasury bond yields. As a result, financial investors are shifting their capital from bonds to precious metals. The price of gold in the world today has the momentum to continue rising.
OANDA:XAUUSDLong
by RKarina
EURUSD snaps three-day losing streak but remains vulnerableEURUSD stays defensive around 1.0820 as it rebounds from the 50% Fibonacci ratio of the October-December 2023 upside. In doing so, the Euro pair prints the first daily gain in four while approaching the 200-SMA resistance surrounding 1.0830. Not only the 200-SMA but the 50-SMA level of around 1.0870 also challenges the pair buyers. Following that, the lat January swing high of around 1.0930 and the 1.1000 threshold will be the final defenses of the bears before welcoming the bulls. On the contrary, the 50% and 61.8% Fibonacci ratios around 1.0795 and 1.0710 respectively act as the strong downside support levels for the EURUSD. Also acting as the downside filter is the monthly low of around 1.0695, a break of which will divert the Euro sellers toward the October 2023 swing low of around 1.0450. That said, bullish MACD signals and the upbeat RSI conditions also challenge the quote’s further downside past the Golden Fibonacci Ratio, namely the 61.8% Fibonacci ratio. Overall, the EURUSD bears appear taking the rest but are still in the game even if the quote’s downside past 61.8% Fibonacci ratio needs a strong reason to lure the sellers. As a result, today’s Eurozone inflation numbers and PMI data will be important to watch for clear directions.
by MTradingGlobal
GBPUSD: The risk of a price drop lurksThe GBP/USD exchange rate is hovering around 1.2680 on Wednesday as markets seek new impetus from the Federal Reserve (Fed) as investors gradually shy away from high-interest rate cut bets. Data on US Gross Domestic Product (GDP) inflation and Personal Consumption Expenditures (PCE) Price Index will be released this week. Data from the United Kingdom remains sparse this week, with the market focusing on important figures to update expectations of interest rate cuts by the Fed. As a result, GBPUSD is struggling to rise, with both short-term and medium-term corrections indicating a downward trend. The currency pair has already broken below the support level of 1.267. In the event that the next support level at 1.265 is breached, the possibility of a decline below 1.262 is entirely plausible as there will be no significant support points to prop up GBPUSD.
Short
by RKarina
USDJPY: SELL OR BUY?Hello dear friends! Today, USDJPY continues to be limited below the resistance level of 150.750 in the early trading hours of the new week. This currency pair is declining due to the decrease in US Treasury bond yields, amid cautiousness and concerns about inflation data in the United States. However, the recent appreciation of the US dollar may limit the downside of USD/JPY as long as the support level of 149.700 is well maintained, thus the possibility of a recovery for USDJPY is still considered high.
by RKarina
EURUSD - Stable trading above the psychological level of 1,080Hello everyone, let's discuss EURUSD today with RKarina! Currently, the EURUSD currency pair is trading quite calmly and there haven't been many price changes, with trading levels around 1.083 USD from the beginning of the week until now. Looking at the prospects from today's short-term analysis chart: This currency pair has experienced a pullback above the 0.5 - 0.618 Fibonacci level, indicating that the selling side seems to have an advantage during this period. However, it is still operating weakly as the price continues to hover and align with the two EMA lines, namely the 34 and 89. If everything goes well and meets expectations, after a slight sideways movement, this currency pair will aim for the next target at the resistance level of 1.086. Let's wait and see the results!
Long
by RKarina
Bull cross keeps Gold buyers hopeful ahead of Fed InflationThe price of spot Gold (XAUUSD) defends the previous day’s rebound from a weekly low despite lacking momentum around $2,035 early Thursday. In doing so, the yellow metal portrays the market’s anxiety ahead of the US Federal Reserve’s (Fed) preferred inflation gauge, namely the US Core Personal Consumption Expenditure (PCE) Price Index. It should be noted that the sluggish MACD signals and steady RSI near 50.00 also depict the trader’s lack of conviction. However, the 50-SMA pierces off the 200-SMA from below and portrays a bullish moving average crossover, namely the Bull Cross, which in turn suggests a short-term upside bias of the market. The same highlights $2,042 as an immediate resistance ahead of an eight-week-old horizontal area surrounding $2,062-66 that holds the key to the bullion’s further advances. In a case where the quote remains firmer past $2,066, the late 2023 peak of around $2,088 and the $2,100 round figure will lure the XAUUSD bulls. On the flip side, an area comprising the 50-SMA and the 200-SMA, around $2,028-26, restricts short-term declines in the Gold price. Following that, the $2,010 level and the previous monthly low of around $2,001 could test the XAUUSD bears before giving them control. In that case, the monthly bottom surrounding $1,984 and the late 2023 trough near $1,973 will be imperative to watch as the final defenses of the buyers. Overall, the Gold buyers are in command ahead of the key US data but the upside room appears limited.
OANDA:XAUUSD
by MTradingGlobal
Xauusd todayHey everyone, let's delve into the current gold prices! During the previous trading session, the price of gold remained steady, ranging from $2022 to $2025. Investors are eagerly awaiting fresh economic data from the United States in order to assess the future direction of interest rates as determined by the Federal Reserve (Fed). At the moment, gold finds itself in a temporary stalemate, torn between expectations regarding interest rates and the demand for a safe haven amidst geopolitical tensions. The latest minutes from the Fed's policy meeting have revealed a general concern among policymakers regarding the risks associated with premature interest rate cuts, which has exerted significant pressure on gold. In my opinion, there is a possibility that gold prices could rise to a range of $2040 - $2042 before experiencing a correction if it reaches the limit of its downward trend.
OANDA:XAUUSDShort
by RKarina
2