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Technical Analysis

USDJPY: Bearish behavior takes advantageHello everyone, what do you think about the USDJPY today? Will it increase or decrease in value? Currently, this currency pair is trading around 146.69 and has lost 0.12% during the day. The level of 147.00 has failed to sustain the current downward trend, and any further price declines are likely to find strong support near last week's low around the 145.65 area. However, additional selling activity may be seen as a new factor for traders to push prices lower and open the door for deeper losses as it adjusts to the 0.618 retracement level and the selling side seeks more opportunities to push the USDJPY down to the 144.800 level.
Short
by RKarina
Infibeam - purely technical pickI usually don't suggest penny stocks. However, I found the chart of a Nifty500 stock, Infibeam vey interesting! We have a beautiful positive RSI divergence currently in weekly time frame. If you observe the chart, a similar divergence is visible near the previous low of 7-8 after which it rallied upto 28. It can be a good positional trade between 12.5 and CMP for targets of 17.5, 19.35 and SL below 11.15 DCB. Please note that this idea is shared only for educational purposes and should not be taken as a recommendation. Kindly trade as per your own analysis.
NSE:INFIBEAMLong
by chartistamey
4
GBPUSD keeps Fed-inflicted bearish consolidation ahead of BoEGBPUSD remains pressured within a six-week-old descending triangle as market players await the Bank of England’s (BoE) monetary policy announcements. In doing so, the Cable pair justifies the US Federal Reserve’s (Fed) hawkish halt, as well as expectations suggesting the BoE’s rate cut in 2024. It’s worth noting, however, that the 50-SMA level of 1.2670 and an ascending support line from late November, close to 1.2650 at the latest, offer intermediate supports to the Cable pair within the aforementioned triangle, currently between 1.2600 and 1.2750. Apart from the triangle in play, the 200-SMA surrounding 1.2560 acts as an extra filter toward the south. Meanwhile, an upside clearance of the stated triangle’s top line, near 1.2750 by the press time, will quickly propel the Pound Sterling toward the previous monthly high of around 1.2830. Following that, the late July peak of 1.3000 will act as the final defense of the GBPUSD bears, a break that won’t hesitate to fuel the prices toward the year 2023 high of near 1.3145. Overall, the BoE is likely to keep the interest rate unchanged but the tone of the British central bank isn’t expected to maintain the optimism like the US Federal Reserve (Fed), which in turn will weigh on the GBPUSD pair unless witnessing a surprise.
by MTradingGlobal
EURUSD: bullish or bearish?Dear friend, EURUSD continues its losing streak this week, with the price of this currency pair trading around the 1.081 level and struggling to find any significant support on the chart. The primarily influencing factors are market news and investor sentiment, along with the volatility of the USD. If sellers regain control, EUR/USD could potentially return to the lows around 1.075 and possibly even 1.066. These are two significant support levels to watch. Conversely, if conditions favor EURUSD, it could bounce back from those levels and move higher.
by RKarina
EURUSD: Continue to be restrainedHello, it's great to see you all again for today's discussion on EURUSD! Currently, in the early trading hours of Thursday, the EURUSD currency pair continues its downward trend, with the trading level at the time of writing being 1.081. The strengthening of the US dollar has sparked new selling pressure on EUR/USD, pushing it down to its lowest level in the weekly range near the psychological area of 1.0800. The selling side seems to be showing a clear determination to push this currency pair down towards the testing area at 1.073, which is the final support level according to the Fibonacci measurement.
Short
by RKarina
1
XAUUSD: Transactions are full of greenHello everyone! Today, the price of gold touched the levels of 2034 and 2036 USD at the beginning of Wednesday and is still mainly trading sideways as of the time of writing, although it is receiving strong support from the 2015 USD level and breaking out of the previous downtrend channel. Overall, the US dollar is regaining its position in the context of risk aversion sentiment, despite the decrease in US Treasury bond yields. All eyes are now focused on the Fed's decision on a new direction for Gold prices that does not bring profits. The daily chart shows XAU/USD trading in green for the second consecutive day as buyers gain confidence. Upon careful observation, we have noticed that gold has surpassed both the 34-day and 89-day exponential moving averages (EMA), but lacks enough strength to confirm an expanding uptrend. Currently, gold is trading near the resistance level of 2040 USD. Breaking above this resistance level will open up opportunities for further price increases in this precious metal, reaching higher levels at 2055 and 2088 USD.
OANDA:XAUUSDLong
by RKarina
Strategy to consider in the short term_ XAUUSDHello everyone! Yesterday, gold experienced a significant price increase, jumping from 2030 to 2056 USD, equivalent to nearly 26 USD. Currently, the price is adjusting and currently stands at 2040-2041 during the early trading hours of the Asian session, with prospects still favoring the buying side. Despite the DXY index showing signs of development, gold continues to demonstrate its strong recovery potential in the context of the possibility of the US not lowering interest rates anytime soon. So far, political tensions in the Middle East have not shown any signs of easing but rather continue to escalate. This is a factor that helps gold maintain its high and stable price above the $2,000/ounce threshold.
OANDA:XAUUSDLong
by RKarina
GBPUSD: Trading becomes attractiveHello everyone, the GBP/USD pair remained below the 1.2700 level during the early Wednesday Asian trading session. The UK's Nationwide House Price Index for January will be released ahead of the Federal Open Market Committee (FOMC) monetary policy meeting on Wednesday. From the 4-hour chart, we can see that the price has formed a double top pattern and declined, breaking out of the previous uptrend channel. Currently, the 34 and 89-period Exponential Moving Averages (EMA) technical indicators continue to support the downward price momentum of this currency pair. Given the current picture, it would not be surprising if GBP/USD makes new breakthroughs below the mentioned support on the 4-hour analysis chart
Short
by RKarina
2
GENESYS is currently experiencing a fresh trend#GENESYS is currently experiencing a fresh trend, with a remarkable 70% increase from its lows. Holding a position from 507, it shares similarities with the traits observed in #WARDINMOBI and #OLECTRA. In the case of #WARDINMOBI, strong buyer interest during low earnings and a news catalyst led to a 70% run from lows, establishing it as a solid momentum candidate. #OLECTRA mirrored this pattern by attracting strong buyers and sustaining positive momentum. While acknowledging industry/theme strength, the focus remains on stocks with ultra-high volumes and a robust rise in price. Technical analysis emphasizes the significance of strong prices and volumes in identifying thematic/industry moves. In momentum trading, strong prices and volumes mitigate overhead supply as a barrier to executing trades swiftly. - Swift execution is facilitated by recognizing past trades with similar characteristics, forming a playbook with hundreds of such setups. - The key to consistent trading lies in creating a robust database of repeatable setups for repetitive and reliable trading strategies.
NSE:GENESYSLong
by Trendxinc
HINDCOPPER: 🔍 Technical Analysis Update for NSE:HINDCOPPER - Week Starting January 23, 2024 📈 Entry Point: Consider entering the trade if the price crosses ₹275.40. 🎯 Target: Aim for a first target at ₹289.45. 🛑 Stop Loss: Set your stop loss at ₹230.60 to manage risk. 💹 Indicators Summary: Parabolic SAR: Buy signal initiated around ₹245.00. EMA & MA Crossover: Bullish signal at ₹264.05. MACD: Awaiting crossover; signal at 18.42, MACD at 14.69. Stochastic RSI: Buy signal present; K at 14.90, D at 8.78. %R: Neutral at 43, indicating potential upward movement. Fisher Transform: Bullish signal at the lower band; Fisher value at 0.72. 🚦 Overall Outlook: The market indicators suggest a cautiously optimistic trend towards bullishness, with key signals aligning for a potential upward movement. Monitoring the MACD crossover and %R values will be crucial in the coming days. ⚠️ Disclaimer: This analysis is for informational purposes only and should not be considered as financial advice. Always conduct your own research and consult with a financial advisor before making investment decisions. #HindustanCopper #TechnicalAnalysis #StockMarket #Investing #TradingStrategy #FinancialMarkets 🌟 Stay updated and invest wisely! 🌟
NSE:HINDCOPPERLong
by finogent
1
EURUSD: Continuing to search for new bottoms!The EUR/USD pair is recovering some lost ground below the 1.0800 level in early Asian trading on Tuesday. The pair's recovery is driven by the modest decline of the US dollar and lower US Treasury bond yields. In the short term, there are expectations of an increase, but when looking at the longer-term trend, the weakness of this currency pair has not yet stopped. It has just surpassed the support level of 1.085 and still aims to find momentum around the 1.075 level. If that price level continues to be broken by the bearish side, EURUSD still has another opportunity at the 1.066 level as it is a significant support level that has helped EURUSD rebound strongly in the recent past. The currency market is fully priced in.
by RKarina
XAUUSD - Be cautious in every step!Gold prices stood firm on Monday, rising over 0.70%, supported by increased tensions in the Middle East along with the previous day's gains in the US Dollar. The XAU/USD exchange rate traded around $2031.60, down 0.07%, after bouncing back from last week's low of $2017.92. In the near term and based on the 4-hour chart, XAU/USD is neutral. It is currently consolidating its short-term uptrend, as evidenced by the potential catalyst provided by the 34 EMA, although the price is approaching the resistance level of $2040 where it has consistently reacted. The "buy on dips" trading strategy for gold continues as long as the support level of $2015 is maintained. This is because, following last week's decision, policymakers are trying to temper hopes of an interest rate cut in April, which the currency market is fully pricing in.
OANDA:XAUUSD
by RKarina
How is gold price traded today?Hello dear friends, let's explore the price of gold together! Regarding the developments and outcomes of the news on January 22nd: The price of gold experienced significant fluctuations, mainly trending downwards. This is due to the strengthening of the US dollar as the Federal Reserve is unlikely to cut interest rates in March. As a result, investing in gold becomes more expensive due to higher interest rates. Conclusion on gold and trends: The price of gold is tied to a narrow range, trading around $2,021 in the Asian session on Tuesday. The market becomes cautious ahead of a busy week with policy meetings from central banks. The "buy on dips" trading strategy for gold continues as long as the significant static support level of $1,980 is maintained. Evidence shows that the price is forming a cup pattern as we have indicated on the chart. The upward trend could strengthen further if strong buying pressure is received from this support level.
OANDA:XAUUSD
by RKarina
USDJPY: Continue to reduce as the new week begins!Dear friends, USDJPY started the session today with a slight decline, trading around 147.75 and losing 0.25% throughout the day as it remains in a corrective wave despite its short-term upward trend. In this context, the Japanese Yen attracts some safe-haven flows amid deepening political tensions. The USD maintains stability below its monthly peak and may support USD/JPY. Traders can also anticipate the important FOMC meeting in the face of uncertainty regarding interest rate cuts. Any further price slide is likely to attract buyers near the round figure of 147.00, which would help limit the downside of the USD/JPY pair near the 146.45 area or last week's low level. A convincing break below the following level could shift the short-term trend favorably for bearish traders and push the spot price down to the horizontal support level at 146.700.
Short
by RKarina
USDJPY: Price slippage after a good week!Dear friends, as anticipated, UJ has broken free from its previous short-term recovery trend at 147.80. At the time of writing, the price is trading below the resistance level of 147.45, with immediate support at 147.30. The downward trend is strong as it has been unable to extend its potential for price increase above 148.00. Additionally, the 34-day and 89-day EMA continue to reinforce the bearish momentum of this currency pair. This decline is evident. Currently, the Japanese Yen is attracting some safe-haven flows due to deepening political tensions, while the US Dollar remains weak in anticipation of the Fed's decision. The focus now shifts to the US employment data later in the day. My target after the USDJPY tests the resistance level at 147.66 (which coincides with the testing of the 34-day and 89-day EMA) is a further decline with a target of 147.08, followed by a breakthrough and touch of the final support level at 146.66. Wishing you successful trading!
Short
by RKarina