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Technical Analysis

GBPUSD: Resistance at 1.32225, Strong Support at 1.30969The chart shows GBPUSD facing strong resistance at 1.32225, tested multiple times but not yet broken, as indicated by the red arrows. Both EMA 34 and EMA 89 confirm that the long-term uptrend remains intact, despite the price temporarily correcting towards the support zone. The two key support levels are Support 1 at 1.30969 and Support 2 at 1.31182, with price responding well, showing strong buying pressure. GBPUSD is likely to fluctuate within the range of 1.3050 - 1.3250 before a clearer trend emerges. If it breaks above the 1.32225 resistance, the pair could continue to rise. The slight decrease in the UK's GDP may put short-term pressure on the GBP. However, the Bank of England (BoE) potentially raising interest rates adds uncertainty and volatility to the GBPUSD pair.
Long
by Romio_pro
EURUSD Faces Resistance, Downtrend ContinuesThe price is fluctuating around the EMA lines, with the EMA 34 above the EMA 89, signaling a short-term recovery but not strong enough to break the main downtrend. A strong support level at 1.10300 has previously caused the price to bounce back. This is also the level that may be revisited if the downtrend continues. The 1.1158 zone is a strong resistance. If the price fails to break through this area, the downtrend is likely to persist. The RSI is at a neutral level, near 50, indicating that the market is balanced, with no signs of being overbought or oversold. EURUSD could continue to decline towards the support level before retesting the resistance. If it fails to break the resistance, the downtrend may continue in the near future.
Short
by Romio_pro
1
USDJPY Tests 143 USD Resistance, Sell Opportunity AheadThe market is influenced by the monetary policies of the Bank of Japan and the Fed, along with U.S. interest rate updates and global economic conditions, continuing to cause volatility for this currency pair. On the 4-hour USDJPY chart, the price is trending downwards, moving below both the EMA and SMA 20, signaling strong selling pressure. The resistance near 143 USD has been tested several times but remains unbroken, indicating strong selling forces at this level. If the price fails to break the 143 USD resistance, USDJPY is likely to continue its downward movement, heading toward the 140 USD level. This could present a potential selling opportunity if the downtrend persists.
Short
by Romio_pro
USDJPY: "Death Cross" makes sellers optimisticUSDJPY ends a four-day decline and rebounds from its lowest point in a month as traders start the US inflation week with mixed feelings, especially after a disappointing employment report on Friday. Sellers are in control Despite the brief pause to recover from an ascending support line from late December 2023, the "Death Cross" on the moving averages and a possible bearish cross on the MACD suggest that sellers remain dominant. Technical levels to watch Given that the RSI is nearly oversold and the market is adjusting its previous movements, USDJPY might continue its recent recovery towards a resistance zone from a month ago, around 143.45-60. After that, a downward-sloping resistance line from early August, near 146.60, will challenge buyers before they can take full control. If they succeed, the 50% Fibonacci retracement level from July 2023 to 2024, around 149.60, and the 200-SMA level at 151.05 could attract more buying interest. On the other hand, sellers might look for a daily close below a long-term rising support line, around 141.90. They should also watch for the late 2023 low around 140.25 and the 140.00 level, which could provide additional support before aiming for the mid-2023 low of 137.25. What next? The USDJPY pair might see a rebound as the market consolidates before the important US inflation data is released on Thursday. However, the bearish trend will continue unless the price stays below the 200-SMA.
by MTradingGlobal
UPL | Wyckoff Events & Phases Explained Wyckoff developed a price action market theory which is still a leading principle in today's trading practice. The Wyckoff method states that the price cycle of a traded instrument consists of 4 stages – Accumulation, Markup, Distribution, and MarkDown. 👉TEXTBOOK EXAMPLE Accumulation Schematic: Wyckoff Events and Phases👈 Price Action Analysis And this is the accumulation stage - 1) PS— Preliminary Support, where substantial buying begins to provide pronounced support after a continued down-move. - Volume increases and price spread widens, signaling that the down-move may be approaching its end. 2) SC—Selling Climax, the point at which widening spread and selling pressure usually in high point and heavy or panicky selling by the public is being absorbed by larger professional interests at or near a bottom. - Often price will close well off the low in an SC, reflecting the buying by these large interests. 3) AR—Automatic Rally, which occurs because intense selling pressure has greatly decline. - A wave of buying easily pushes prices up. - The high of this rally will help define the upper boundary of an accumulation. 4) ST—Secondary Test, in which price revisits the area of the SC to test the supply/demand. - If a bottom is to be confirmed, volume and price spread should be decline as the market approaches support in the area of the SC. - It is common to have multiple STs after an SC. 5) SOS—Sign Of Strength, a price advance on increasing spread and relatively higher volume. 6) LPS—Last Point Of Support, the low point of a reaction or pullback after an SOS. 7) BU/LPS- Backing up to an LPS means a pullback to support that was formerly resistant, on diminished spread and volume. All the phases of accumulation stage- Phase A: Phase A marks the stopping of the prior downtrend. -- Up to this point, supply has been dominant. -- The approaching cutback of supply is evidenced in preliminary support (PS) and a selling climax (SC). -- A successful secondary test (ST) in the area of the SC will show less selling than previously and a narrowing of spread and decreased volume, generally stopping at or above the same price level as the SC. -- If the ST goes lower than that of the SC, one can anticipate either new lows or prolonged consolidation. -- Horizontal lines may be drawn to help focus attention on market behavior, as seen in the two Accumulation Schematics above. Phase B: -- Phase B serves the function of “building a cause” for a new uptrend -- In Phase B, institutions and large professional interests are accumulating relatively low-priced inventory in anticipation of the next markup. --There are usually multiple STs during Phase B' -- Institutional buying and selling impart the characteristic up-and-down price action of the trading range. --Early on in Phase B, the price swings tend to be wide and accompanied by high volume. Phase C: -- It is in Phase C that the stock price goes through a final test of the remaining supply. -- this marks the beginning of a new uptrend, trapping the late sellers (bears). -- It indicates that the stock is likely to be ready to move up, so this is a good time to initiate at least a partial long position. -- The appearance of an SOS shortly after a spring or shakeout validates the analysis. Phase D: --During Phase D, the price will move at least to the top --LPSs in this phase are generally excellent places to initiate or add to profitable long positions. Phase E: --large operators can occur at any point in Phase E. --These are sometimes called “stepping stones” on the way to even higher price targets. -------------------------------------------------- Regards, Revive Traders ------------------------------------------------ Guys check out the related POST as well, it went FANTASTIC ! 🙏FOLLOW for more ! 👍LIKE if U find it useful ! ✍COMMENT your views & feedback !
NSE:UPLEducation
by ReviveTraders
2
EUR/USD Near 1.11400 Resistance: Breakout or Pullback?The chart shows an upward trendline with EUR/USD approaching the key resistance level of 1.11400, where selling pressure may arise if the price fails to break through. The crucial support currently lies around 1.10500, a level to which the price might retreat if it fails to surpass the resistance. EUR/USD is testing this resistance zone, with the potential for a breakout if buying pressure strengthens. Otherwise, the price is likely to retest the rising trendline.
Short
by Romio_pro
Gold Sideways: Waiting for a Breakout to Determine the Next TrenGold is currently trading sideways between resistance at 2,530 and support at 2,480, awaiting a breakout to determine the next trend. EMA 34: Acting as near-term support, indicating a short-term uptrend. If the price falls below EMA 34, selling pressure could increase. EMA 89 provides medium-term support; maintaining the price above EMA 89 will support the uptrend. Traders should look for confirmation signals from a breakout model. A price move beyond the resistance or support levels will signal a clear trading opportunity. Whales are trading large volumes, creating strong volatility and potentially causing unexpected gold price increases.
OANDA:XAUUSD
by Romio_pro
Gold poised to surge on NFP and U.S. inflation data.Tonight, key figures for NFP, Employment Change, and the U.S. Unemployment Rate will be released. The labor market outlook is predicted to be negative, with Nonfarm Payrolls expected to reach only 164K and the unemployment rate to drop to 4.2%. Average hourly earnings are forecasted to increase from 0.2% to 0.3%, indicating rising inflation pressure. This could cause significant volatility for the USD and push gold prices higher. The 4H XAUUSD chart shows a breakout from the downtrend channel, with gold surpassing resistance at 2,526 USD and support from EMA 34 (2,505 USD) aiding the upward move. Interestingly, after this breakout, gold is likely to continue toward the target of 2,550 USD, a level many investors are anticipating. Stay updated with market news for more accurate trading. Wishing everyone successful trades.
OANDA:XAUUSDLong
by Romio_pro
Resistance at 0.67415: AUDUSD at Risk of a Deep DeclineThe 4H chart of AUDUSD shows the price facing a significant resistance zone around 0.67415, where the EMA 34 acts as a dynamic resistance. EMA 34 and EMA 89 play crucial roles in the short-term trend, with the price fluctuating between these levels and possibly facing downward pressure if it fails to break through the resistance. A key support zone is clearly marked at 0.66800, and if the price breaks this level, it is likely to continue its deeper decline. In terms of news: The Australian Dollar is often affected by economic indicators from China, especially production and export data. Any negative factors from China's economy may further weaken the AUD.
Short
by Romio_pro
Gold: Edges higher within bullish channel, focus on $2,530 & NFPGold buyers are gearing up for potential weekly gains as the metal rebounds from a resistance-turned-support level that's been holding steady for seven weeks. With the crucial US August jobs report, including the Nonfarm Payrolls (NFP), on the horizon, traders are cautious before the release. A smoother road for bulls Gold's recent bounce from past resistance and a 2.5-month-old bullish trend channel suggest more gains ahead. That said, supportive RSI and weakening bearish MACD signals also favor buyers. Important technical levels to watch A 13-day-old descending trend line, close to $2,530 at the latest, guards immediate upside of the gold price ahead of the all-time high surrounding $2,532 marked in August. Following that, the aforementioned bullish trend channel’s upper line, close to $2,558, and the $2,600 round figure will gain attention of the buyers. On the contrary, sellers will wait for a clear downside break of the multi-day-old previous resistance line, near $2,470 as we write, for taking fresh entries. Even so, a convergence of the 50-SMA and bottom line of previously stated bullish channel, near $2,439, will be a tough nut to crack for the bears before taking control. It’s worth noting that the 100-SMA level around $2,388 acts as an additional downside filter. What Next? Gold buyers are poised for potential new highs, but gains might be limited before the key US jobs data is released.
OANDA:XAUUSD
by MTradingGlobal
Aavas Financiers - Analysis and PredictionTechnical Analysis of Aavas Financiers: Aavas Financiers has been in a downtrend since January 2022, with strong initial support levels established at 1,297. The stock is facing resistance at four key levels: 1,815 (R1), 2,044 (R2), 2,416 (R3), and 3,000 (R4). Notably, the stock is trading above the 200-week EMA, which is a positive technical sign, but it may experience a correction as it has reached the first resistance level (R1). In terms of trading volumes, there has been significant increase since June 2023, indicating heightened market activity and interest. Additionally, Aavas Financiers has reported a decent free cash flow of ₹5.2 billion INR, which strengthens its financial position. From a technical perspective, both the weekly and monthly MACD charts display bullish strength, further supporting the potential for upward movement in the stock’s price, provided it can break through and sustain the resistance levels ahead. Potential Risk: The primary risk to the stock's upward trajectory is the possibility of a broader market correction. 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:AAVAS
by sandeepbalachandran
NSE ASIANPAINTS - At the Edge of Kinfe Timeframe: Daily NSE ASIAN PAINTS has been undergoing a corrective phase for about 80 weeks, with its price confined within a range of 3329 – 2938 , excluding excesses. The ADX indicator has declined to 21, while the average true range (ATR) stands at 43. Presently, the price has breached the 20-day exponential moving average (EMA) and is trading below the 50, 100 , and 200 EMAs. According to the wave principle, the price has formed a corrective formation A-B-C. Wave (B) occurred at 3422.9 , and wave (C) has taken place. Wave (C) has already reached 100 % of wave (A), indicating equality between wave (A) and wave (C). Sub-wave 4 of wave (C) is expected to occur, followed by wave 5 of wave (C). A buying opportunity may arise if the price breaks above the wave A – C line and maintains levels above 2931. Targets for the Long position would be 3026 – 3152 – 3285+. We Will update further information soon.
NSE:ASIANPAINT
by forextidings
2
GBP/USD Testing 1.31700 Resistance: Rise or Pullback?The chart shows GBP/USD was in a downtrend within a price channel but has now recovered and broken out of it. Key support lies around 1.30800, which the price might revisit if it fails to break the current resistance. Key resistance is at 1.31700. If this level is broken, GBP/USD could continue its upward trend. If the price breaks the 1.31700 resistance, investors may consider buying, with a near-term target of 1.31464 or higher. Regarding news: Economic data from the UK and US will have a significant impact on this pair. Interest rate decisions and employment reports from both countries will be key short-term drivers.
Long
by Romio_pro
EURUSD: Sellers stay optimistic, watching 21-EMA & US dataThe EURUSD pair has lost momentum after briefly recovering from the 21-EMA support level. Traders are now focused on upcoming US job reports, including the Initial Jobless Claims, ADP Employment Change, and ISM Services PMI. This cautious mood is making it hard for the Euro to gain traction. Multiple catalysts lure Euro bears The EURUSD pair has been stuck in a trading range for a week, with the RSI (14) showing no strong trend. However, a bearish chart pattern and bearish MACD signals keep sellers hopeful. Optimism about strong US data and concerns about an economic slowdown in the Eurozone add to the negative outlook for the Euro. Technical levels to watch EURUSD pair’s repeated bounces of 21-EMA support of 1.1050 highlights the numbers as a tough nut to crack for short-term sellers. Following that, a three-month-old resistance-turned-support near 1.0980 will lure the bears. In a case where the quote remains bearish past 1.0980, a gradual decline toward the rising wedge confirmation’s theoretical target near 1.0700 can’t be ruled out. Meanwhile, EURUSD buyers need validation from 1.1080 to regain control. Even so, the aforementioned rising wedge’s bottom line surrounding 1.1210 will be a crucial resistance to watch for the bulls. Following that, the pair’s gradual run-up toward the previous yearly high of 1.1275 appears more likely. Looking ahead… A slew of US employment and activity data will decorate Thursday’s economic calendar and direct EURUSD traders. However, the quote’s failure to cheer the US Dollar’s weakness can please sellers should the scheduled statistics favour the Greenback’s run-up by dimming the odds of heavy Fed rate cuts.
by MTradingGlobal
AUDUSD Testing Support: Resistance at 0.6750AUDUSD is testing the support level around 0.6680, an important level previously validated. If the price holds above this support, it may rise towards the 0.6750 resistance, though the EMA 34 and EMA 89 could limit the upward move. If the price holds above 0.6680 and rebounds, traders may consider opening buy positions with a target of 0.67097. Regarding news: PMI reports, unemployment data, or interest rate decisions from the RBA and FED could impact AUDUSD. If the U.S. economy shows positive signs, the USD could strengthen, putting pressure on the AUD.
Long
by Romio_pro
USDJPY Deepens Decline: Support at 144.500, Target 143.000On the 3-hour chart, USDJPY is declining, approaching a key support level at 144.500, a level that has been tested and may react in the short term. If the price tests this support and doesn't recover strongly, it is likely to continue its downtrend with the next target at 143.000. The 89 and 34 EMAs act as resistance levels at 145.776 and 145.718, reinforcing the downward trend. RSI at 42.88, near the oversold zone, indicates the price may drop further before a slight upward correction. Investors may consider selling if the price breaks the 144.500 support, with a short-term target at 143.000. Regarding news: Inflation data from Japan and the U.S. will impact USDJPY. If Japan's inflation remains low, the Yen could weaken further.
Short
by Romio_pro
XAUUSD Holds Strong Support: Breakout Target 2,523On the 4-hour chart, XAUUSD is currently in a strong support zone around 2,470 - 2,480, a level that has been tested multiple times in the past. The downward trendline is acting as resistance, but there are signs of a potential breakout above this trendline. The breakout target could reach 2,523, but it's important to note that the price may retest the support zone before moving higher. If the price breaks above the resistance trendline, consider opening a buy position with a take profit target at 2,523. At the moment, U.S. economic reports such as NFP data and FED speeches on interest rate policy are key factors directly impacting gold prices.
OANDA:XAUUSDLong
by Romio_pro
EURJPY Pressure: Support 159.552, Interest Rate ResistanceEURJPY is declining after hitting strong resistance at 163.000, causing a price pullback. The 34 and 89 EMAs are acting as resistance levels, adding selling pressure in the market. The MACD indicator shows that downward momentum is slowing, but there is no clear signal of a strong reversal yet. If the price holds above the 159.552 support and shows signs of recovery, investors may consider opening buy positions with a target around 161.000 - 162.000. Regarding news: Interest rate decisions from the ECB and BOJ will significantly impact EURJPY. Tightening from the ECB may push EUR higher, while BOJ's negative rates could weaken JPY.
Long
by Romio_pro
GBPUSD: Awaiting Rate Hike Signals, Trend Reversal RiskGBPUSD is currently in a short-term uptrend. The EMA 34 is above the EMA 89, indicating that buying pressure still dominates the market. The chart shows that the EMA 34 remains above the EMA 89, but if there is a downward correction, the EMA 34 could potentially cross below the EMA 89, signaling a bearish trend. The RSI (14) is currently at 52-54, suggesting that upward momentum remains but is close to the overbought region. If it surpasses 70, there might be a correction or a bearish reversal. If the price fails to break through the resistance level of 1.32800, GBPUSD might revisit the support level of 1.30600. Regarding news: Investors are awaiting interest rate signals from the Fed; if rates are increased, the USD will strengthen, putting downward pressure on GBPUSD. The BoE also faces pressure to adjust rates due to high inflation and the challenging economic conditions in the UK.
Short
by Romio_pro
JMFINANCIL Analysis!NSE:JMFINANCIL Analysis on a 4H Timeframe! Short Term Movement Analysis on JMFINANCIL! Double Bottom Pattern Formation in JMFINANCIL! Double Bottom Neckline breakout at JMFINANCIL! Analysis: JMFINANCIL was in the Downtrend since 29 Jan 2024. We can clearly see it has made a Double Bottom Pattern. It also given the breakout to its resistance level which is nothing but pattern's neckline. After that it has retested the resistance level which becomes the new Support level. The bullish momentum started building after the breakout. Consideration while taking the trade on Double Bottom Pattern: 1)Previous trend should be a downtrend 2)Volume at bottom 1 should be greater that Volume at bottom 2 3)The bottoms should be below 50EMA Trade Setup= Entry= Not recommend to enter now as price went way far from the breakout Target= 110.78 Disclaimer = Consider my analysis for Educational Purpose 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:JMFINANCILLong
by Avinash9087
EUR/USD Near 1.10300 USD Support, Short-Term Upside PotentialThe H3 chart of EUR/USD shows the price approaching a crucial support level around 1.10300 USD, a zone that has held firm previously and may trigger an upward move if unbroken. The 20 SMA is currently exerting downward pressure, but if the support holds, a short-term recovery is possible. The price is also trading near the lower Bollinger Band, indicating the potential for a bounce from this support level. Traders might consider buying near the 1.10300 USD support if clear reversal signals emerge. Market sentiment for EUR/USD is still influenced by economic and political factors from both the Eurozone and the U.S.
Long
by Romio_pro
USD/JPY Rises Strongly with EMA Support and BoJ PolicyThe USD/JPY pair is currently trading around 146.716, with an upward trend supported by the trendline. The chart shows that the EMA 34 is supporting the price, while the EMA 89 provides a support zone around 146. The EMA 34 crossing above the EMA 89 signals a short-term uptrend. The RSI is at 68.04, indicating that USD/JPY is nearing overbought territory. This could lead to a short-term correction as the price approaches the resistance zone. If the price breaks through the 147.300 resistance level, the upward trend could continue strongly, with the next target possibly at 148.286 or higher. As for news: The Bank of Japan (BoJ) continues to maintain its loose monetary policy, creating a significant interest rate differential between the USD and JPY, driving this currency pair higher.
Long
by Romio_pro
GBPUSD: Falling wedge teases buyers ahead of UK/US dataThe GBPUSD currency pair is currently at its lowest point in over a week as traders wait for important data releases on Wednesday. This data includes the UK’s S&P Global/CIPS PMIs for August and the US Factory Orders and JOLTS Job Openings for July. The Pound Sterling has recently broken below a key support level comprising a one-month-old ascending trend line, which has now become resistant. Bullish technical formation, bumpy road to south challenge GBPUSD bears Despite the recent decline, the GBPUSD pair is holding up well due to a bullish pattern known as a falling wedge and several support levels. The MACD indicator also shows a decreasing bearish trend, which could help GBP/USD buyers. Additionally, the RSI indicator suggests there isn’t strong market support for the current downtrend. Technical levels to watch While the short-term falling wedge restricts the GBPUSD pair’s immediate moves between 1.3080 and 1.3120, the support-turned-resistance line from early August and a seven-week-long horizontal region act as additional trading filters around 1.3150 and 1.3050-35 respectively. Apart from that, the 50-SMA and 200-SMA could challenge the momentum traders around 1.3170 and 1.2935 in that order. In a case where the GBPUSD pair remains firmer past 1.3170, it will refresh the yearly high while aiming for the falling wedge confirmation’s theoretical target surrounding 1.3300. Alternatively, a downside break of the 200-SMA support of 1.2935 will make the Cable pair vulnerable to slump toward mid-August swing low near 1.2800. Looking forward… In the short term, GBPUSD might continue to trend lower, but the bears are losing momentum. Any disappointment in US data could quickly bring buyers back into the market, especially given the bullish technical indicators.
by MTradingGlobal