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USDJPY: Sellers remain in driver’s seat despite BoJ’s status quoEarly Friday, USDJPY reverses the previous day’s run-up to the highest level in a fortnight as the Bank of Japan (BoJ) leaves monetary policy unchanged, as expected. Oscillators, technical hurdles push back buyers within falling wedge USDJPY recently reversed from a six-week resistance level, and the RSI is pulling back while the MACD shows signs of a bearish crossover, which keeps sellers optimistic. Additionally, the price remains below the 200-Exponential Moving Average, making it harder for Yen buyers. However, a bullish falling wedge pattern that has formed since early August could encourage buyers. Technical levels to watch The USDJPY pair's drop from a key resistance level, along with weak indicators, suggests sellers will target below 142.00. Key levels to watch are the psychological mark at 140.00 and the monthly low around 139.55. If buyers can’t hold above the falling wedge's bottom near 139.30, the price could drop to the mid-2023 low around 137.20. On the flip side, the 1.5-month-old horizontal resistance area near 143.70-144.00 appears a tough nut to crack for the USDJPY bulls. Following that, the quote’s quick jump toward the stated bullish wedge’s top line around 145.00 can’t be ruled out. If the price stays above 145.00, it could aim for 156.00, but breaking the 200-EMA at 145.30 is essential for that rally. What next? Given the monetary policy divergence between the US Federal Reserve (Fed) and the Bank of Japan (BoJ), as well as the quote’s sustained trading below the key resistances, the USDJPY sellers are likely to have some more days to cheer.
by MTradingGlobal
Fourth largest manufacturer of Chlor-Alkali has given breakoutHello Everyone, i hope you all will be doing good in your trading and your life as well, i have brought another stock from chemical sector which produces Chloralkalis: Caustic Soda Lye and Flakes, Liquid Chlorine, Hydrogen, Caustic Potash Lye and Flakes, etc. Company belongs from solid fundamentally Meghami Group. it is the fourth largest manufacturer of Chlor-Alkali in India. Stock has already given breakout of Triangle Pattern on weekly timeframe and after retesting the breakout level stock has given breakout of neckline of previous highs. Now there is high probability stock should fly from here towards our given targets on charts. Stock is good to hold for long term also, this can give you multifolds returns in long term. For short term and near long term targets i have already placed on chart. Market Cap ₹ 5,092 Cr. Current Price ₹ 1,226 High / Low ₹ 1,277 / 811 Stock P/E 26.0 Book Value ₹ 272 Dividend Yield 0.41 % ROCE 32.1 % ROE 39.4 % Face Value ₹ 10.0 Industry PE 18.6 Debt ₹ 971 Cr. EPS ₹ 47.2 Promoter holding 71.4 % Intrinsic Value ₹ 1,483 Pledged percentage 0.00 % EVEBITDA 12.4 Change in Prom Hold 0.00 % Profit Var 5Yrs 18.3 % Sales growth 5Years 29.6 % Return over 5years % Debt to equity 0.86 Net profit ₹ 196 Cr. ROE 5Yr 37.7 % Profit growth -47.8 % PROS:- Company has delivered good profit growth of 18.3% CAGR over last 5 years Company has a good return on equity (ROE) track record: 3 Years ROE 36.8% Debtor days have improved from 46.8 to 27.7 days. CONS:- Company might be capitalizing the interest cost. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:EPIGRALLong
by TraderRahulPal
3
Gold Analysis September 19Fundamental Analysis Gold prices regained positive momentum after yesterday’s pullback from an all-time high and continued their steady intraday gains heading into Thursday’s European session. The US dollar (USD) saw an intraday reversal from a one-week high and now appears to have stalled its recovery from its lowest since July 2023 hit the previous day. This, coupled with concerns over a recession in the United States (US) and China, along with the risk of further escalation in tensions in the Middle East, prompted some safe-haven flows into the precious metal. With Thursday’s positive move, Gold now appears to have snapped a two-day losing streak, although the possibility of more aggressive easing by the Federal Reserve (Fed) could limit any further gains. In fact, the US central bank decided to start its policy easing cycle by cutting borrowing costs by 50 basis points on Wednesday. However, the Fed has lowered market expectations for excessive rate cuts in the future. This still supports a modest increase in US Treasury yields, which could limit the USD's losses and limit the gains of the non-yielding yellow metal. Technical analysis Gold has recovered very strongly from the Fibonacci retracement level of 2547-2545. At the moment, we need to understand what it wants each session and how it pushes the price. So Gold can absolutely continue to push higher in 3 sessions when Asia and Europe have not had any significant declines. The important price zone is 2588. If this zone breaks when the US enters, do not sell and wait for 2600 SELL to react. It is easy to have a false break, so the beautiful BUY point in the area I determined yesterday at 254x will be held until 263x. Today is a difficult day to trade. If the US session at 19:30 cannot break the 2588 area, it is possible to SELL to the destination area at 2565 - 2545 SELL attention zone 2588-2600-2612-2618 BUY attention zone 2565-2545
OANDA:XAUUSD
by TVS-Trader
GBPUSD: Post-FOMC optimism stays intact despite pre-BoE retreatGBPUSD consolidates Fed-induced gains as traders await monetary policy announcements from the Bank of England (BoE). That said, the Cable pair reached a fresh 30-month high after the US Federal Reserve’s (Fed) 0.50% rate cut that drowned the US Dollar across the board. Buyers stay optimist Although the Pound Sterling struggles to hold at a 2.5-month high, not to forget its failure to provide sustained breakout of a month-old horizontal resistance, the quote defends the mid-month breakout of a descending resistance line from late August, now support. Also keeping buyers hopeful is the pair’s recent rebound from the 100-SMA and steady RSI conditions. It’s worth noting, however, that the bearish MACD signals and a likely status-quo of the BoE could join the key upside hurdle to challenge the bulls. Technical levels to watch For GBPUSD buyers, the immediate resistance to watch is a month-old range between 1.3230 and 1.3240 if the BoE sounds hawkish. After that, the focus will shift to the 1.3300 level. If the Cable price stays above 1.3300, the 50% and 61.8% Fibonacci Extension (FE) levels around 1.3305 and 1.3375 could attract buyers. On the flip side, GBPUSD sellers need a clear break below the 1.3150-45 support zone, which includes the 100-SMA and a month-old previous resistance line, to weaken buyer’s confidence. If they succeed, the next tests will be the 1.3100 level and the 200-SMA at 1.3025, as well as the key psychological level of 1.3000. Upward bias seems favorable Whether due to an expected hawkish pause from the BoE or the market's response to the Fed's dovish surprise, along with GBPUSD trading above the 1.3150-45 resistance-turned-support, the pair is likely to stay bullish unless the UK central bank surprises traders.
by MTradingGlobal
EURUSD: Bulls struggle to keep control on FOMC DayEURUSD picks up bids to reverse the previous day’s retreat from a month-old horizontal hurdle as traders prepare for the all-important US Federal Reserve (Fed) Interest Rate Decision. In doing so, the Euro pair defends last week’s U-turn from a 200-SMA while making rounds to a four-week-long bearish channel’s top line. Buyers are cautious Along with the strong rebound from the 200-SMA, a positive RSI (14) supports the bullish outlook for the EURUSD pair. However, the key resistance area, a potential bearish signal on the MACD, and the cautious market sentiment ahead of the FOMC meeting may challenge any upward momentum. Key technical levels For EURUSD bulls to take charge, they must break above the key horizontal resistance zone around 1.1145-55, especially if the Fed signals a dovish stance. If they succeed, the focus will shift to the yearly peak near 1.1200. After that, the 50% and 61.8% Fibonacci Extension (FE) levels of August-September moves at 1.1215 and 1.1265 will be next, followed by the previous yearly high of 1.1275. Conversely, any pullback in EURUSD should find strong support at the 200-SMA level around 1.1045. Even if it falls below this, the monthly low of 1.1000, the lower boundary of the bearish channel near 1.0980, and an upward trend line from late June around 1.0930 will likely hold the bears back before they gain control. Sellers have a long and bumpy road ahead… Even if buyers face challenges, EURUSD sellers still have a tough road ahead before taking control. Key obstacles include the Fed's potential consecutive rate cuts in 2024 and a rising support line around 1.0930, which are both important factors to watch.
by MTradingGlobal
AVALON - Ichimoku Breakout📈 Stock Name - Avalon Technologies Ltd 🌐 Ichimoku Cloud Setup: 1️⃣ Today's close is above the Conversion Line. 2️⃣ Future Kumo is Turning Bullish. 3️⃣ Chikou span is slanting upwards. All these parameters are shouting BULLISH at the Current Market Price and even more bullishness anticipated AFTER crossing 591. 🚨Disclaimer: This is not a Buy or Sell recommendation. It's for educational purposes and a guiding light to learn trading in the market. #CloudTrading #IchimokuCloud #IchimokuFollowers #Ichimokuexpert Excited about this analysis? Share your thoughts in the comments below! 👍 Like, Share, and Subscribe for daily market insights! 🚀 #StockAnalysis #MarketWatch #TradingEducation #ichimoku #midcap #smallcap #largecap #AVALON
NSE:AVALONLong
by nikunjbhadja
1
HEROMOTOCO Mega Breakout AheadHey Family, there is a one more stock Which is showing a great opportunity. Key Points:- * Formation of Rectangular box Pattern in Daily TF. * From Jun 2024 to Sep 2024 its in range. * From Jun 2024 to Sep 2024 Tested & Moving Resistance Many times. * It's Near resistance Zone and trying to Break Resistance Zone with good volume, good Closing Required. * Volume is Missing. What is your view please comment it down and also boost the idea this help to motivate us. We are Certified. 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:HEROMOTOCOLong
by ChartSight
1
LINC Breakout with a good upside potentialHey Family, there is a one more stock Which is showing a great opportunity. Key Points:- * Formation of Ascending Triangle Pattern in Daily TF. * From Jan 2024 to Sep 2024 Tested & Moving Near Resistance Many times. * It's Near resistance Zone and trying to Break Resistance Zone with good volume good closing required. * Volume Accumulation (Volume is Rising). What is your view please comment it down and also boost the idea this help to motivate us. We are Certified. 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:LINCLong
by ChartSight
1
Gold: Pullback remains elusive beyond $2,570, US data, Fed eyedGold snaps three-day winning streak while retreating from an all-time high, marked the previous day, as traders await the US Retail Sales and monetary policy announcements from the Federal Reserve (Fed), scheduled for Tuesday and Wednesday respectively. In doing so, the precious metal eases from the 61.8% Fibonacci Extension (FE) of its July-September moves. Buyers remain optimist Gold’s recent dip comes as the RSI (14) moves back from the overbought zone and marked failure to break through the 61.8% Fibonacci Extension level on prices. Sellers are also eyeing a potential bear cross on the MACD. Despite this, gold remains above the two-month-old resistance line near $2,570, keeping buyers hopeful with dovish expectations from the Fed. Technical levels to watch For intraday sellers, the $2,570 level is key as it has turned into support. If gold continues to decline, the 50% and 38.6% Fibonacci Extension levels around $2,560 and $2,540 could be next obstacles. Below these, the bears might target the month-old resistance line and an upward trend line from early August, near $2,525 and $2,515, respectively. However, gold buyers will stay optimistic unless the price clearly falls below the 200-SMA level at $2,487. On the flip side, if gold breaks above recent peaks around $2,590, it could target the $2,600 level before approaching the 78.6% Fibonacci Extension at $2,610. If gold buyers push past $2,610, the focus will shift to the 100% Fibonacci Extension near $2,650 and then the $2,700 mark. Sellers need a strong motive to retake control Overall, gold remains bullish despite the recent pullback. For sellers to gain control, they would need not only a drop below the 200-SMA but also strong US data and a hawkish stance from the Fed.
OANDA:XAUUSD
by MTradingGlobal
UMAEXPORTS Giving a Strong BreakoutUMAEXPORTS Giving a Strong Breakout About: Uma Exports Ltd. engages in the marketing and sale of agricultural produce and commodities. Its products include sugar, spices like dry red chilies; turmeric; coriander; cumin seeds; food grains like rice, wheat, corn, sorghum and tea; pulses; and agricultural feed like soy bean meal, and rice bran de-oiled cake. The company was founded on March 9, 1988 and is headquartered in Kolkata, India. Stoploss - Below the BO Candle Target - Exit half at 10 - 15% and Trail the Remaining
NSE:UMAEXPORTSLong
by Akshaytrader007
Bitcoin Looks Promising on Bullish SideBitcoin has made double bottom base at around 53000 price range. Also in weekly time frame, coin is in consolidation to negative pattern which shows a FLAG AND POLE pattern possibility. Other support is near to 40000 to 40600 price range. In Monthly Time Frame it is just showing profit booking. If price breaks above 64000 in weekly candle or sustains above 70000 (Safe Side+ breakout of flag and pole pattern) the price can reach to the levels given in chart. Follow for more such content. Disclaimer: Above is just my own opinion about the coin and is for educational purpose only.
by YogeshVerma1
1
CNXIT BULLISH ! 1. Resistance Breakout: - The index has historically faced selling pressure at 38,653 - 38,405 Zone, causing it to reverse or pause its upward movement. - When a stock breaks above a strong resistance level, it means that buying demand has overwhelmed the selling pressure at that price point. This breakout is a positive sign, indicating that the chart may move higher, especially if it is a clean break (i.e., it closes significantly above the resistance level). - The **strength of the breakout** is often measured by the volume of trading activity. If the breakout occurs on **high volume*, it indicates that a large number of market participants are involved, adding credibility to the When a stock breaks through a strong resistance level and retests that level with good volume, it can signal a strong bullish move. Here's a detailed breakdown: 2. Retest of the Resistance Level: - After the breakout, it’s common to see a retest of the previous resistance level, which now acts as a support level. This retest occurs as some traders may take profits, or there may be some temporary selling pressure as the market re-evaluates the new price. - If the stock successfully holds above the previous resistance (now support) on the retest, it confirms that the breakout was valid. This gives bulls (buyers) more confidence that the level will hold and that the stock has further upside potential. 3. Volume Confirmation: - A retest with good volume is essential. If the stock holds the new support on strong volume, it signals that buyers are stepping in to defend the level, further reinforcing the idea that the stock is in a bullish phase. - Conversely, if the retest occurs on low volume, it may indicate a lack of conviction from buyers, and the breakout may be prone to failure. 4. Bullish Expectations: - When a stock breaks out of resistance and successfully retests it with strong volume, the expectation is that the stock will enter a new bullish trend. The prior resistance has now been transformed into a solid base of support, and the stock may experience momentum buying, pushing prices higher. - Traders often see this scenario as a low-risk, high-reward setup. Their stop-loss would typically be placed just below the new support level, while the upside target could be based on previous price patterns, such as Fibonacci extensions or previous highs. 5.Target : - it is on its all-time high targets on fib zones,pivots 0r based on future price action basis. # Summary: - **Breakout of strong resistance Indicates potential for higher prices. - **Retest of resistance as support Confirms strength of the move if support holds. - **Good volume on retest: Adds confidence in the bullish move. - **Bullish expectation Likely continuation of the upward trend. This combination forms a high-probability bullish setup in technical analysis. #cnxit #itsector #nifty
NSE:CNXITLong
by Sateesh07
Gold: Prices renew all-time high under $2,600, but expect bumpsGold prices hit a fresh record high around $2,570 early Friday as it extends the previous day’s upside break of a three-week-old resistance, now support around $2,525. This rise is fueled by increasing expectations of significant rate cuts from the US Federal Reserve and a push against a rising trend line from mid-July. A bumpy road for the bulls ahead… Despite the Fed's rate cut hopes supporting gold, an eight-week resistance line and an overbought RSI (Relative Strength Index) suggest a possible price pullback. Additionally, a potential bounce in the US Dollar, especially with upcoming reports on consumer sentiment and inflation expectations, might give gold buyers a temporary pause. Nevertheless, the breakout above resistance and bullish MACD signals keep the buyers optimistic. Technical levels to watch… To continue climbing, gold prices need to break above a two-month resistance line around $2,570. If successful, gold could quickly reach the 61.8% Fibonacci Extension (FE) level of the bullion’s late July to early September moves near $2,581 and then target $2,600. If gold surpasses $2,600, it could aim for the 78.6% and 100% FE levels around $2,610 and $2,650, respectively. If prices pull back, they might first test the 50% and 38.2% FE levels near $2,560 and $2,540. A key support level at $2,525 could also come into play. If gold drops below $2,525, it might struggle to hold above $2,500 and $2,470, making those levels significant for potential declines. What next? Gold buyers are expected to remain strong, thanks to anticipated rate cuts from major central banks like the Fed. However, there might be a temporary dip in prices before the next rally.
OANDA:XAUUSD
by MTradingGlobal