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Bullish momentum stalls amid resistanceUSD/JPY is currently trading around 154.57 after a strong rally. It seems that the bulls have run into pressure at the 155.00 resistance zone, while technical and market sentiment factors are also influencing the next direction of the pair. Technical analysis: Nearest resistance: 155.00 - a strong psychological resistance zone where the price is struggling to overcome. Nearest support: 154.00 - a key support level, if broken, the price could fall further to 153.00. EMA 34 and EMA 89: The price is trading around EMA 34 (short-term support), but is still above EMA 89, suggesting that the medium-term uptrend is still in place. Price pattern: There are signs of a pause, with the possibility of forming a "Pullback" pattern or a slight reversal before continuing the main trend. Personal opinion: I see the market facing a dilemma between buying and selling forces. The recent increase in USD is supported by high US bond yields and positive market sentiment. However, if it fails to break above the 155.00 zone, USD/JPY may correct slightly before looking for new momentum to continue rising. Trading strategy: Buy: When the price breaks above 155.00, the next target is 156.00. Sell: When the price falls below 154.00, the next support target is 153.00.
by Maria_aaa
RSI IndicatorThe best RSI settings are typically a 14-period timeframe with 70 as the overbought level and 30 as the oversold level. These settings can be adjusted based on specific trading strategies. Low RSI levels, below 30, generate buy signals and indicate an oversold or undervalued condition. High RSI levels, above 70, generate sell signals and suggest that a security is overbought or overvalued. A reading of 50 denotes a neutral level or balance between bullish and bearish positions.
NSE:BANKNIFTY
by SkyTradingZone
Signs of Recovery or Resistance Ahead?Currently, GBP/USD is trading around 1.26857, indicating a slight recovery after the previous extended bearish phase. The British pound is showing more positive signs, however, the pressure from the EMA 89 resistance has not been completely broken. The GBP/USD pair remains in an overall downtrend, confirmed by lower highs and lows. The EMA 34 and EMA 89 continue to slope down, indicating that selling pressure is still dominant. Resistance and support: Nearest resistance: The area around 1.2700-1.2720, which coincides with the EMA 89. This is an important zone that needs to be broken to confirm a short-term reversal. Key support: The 1.2600 area, where the pair has found buying pressure in recent sessions. If this zone is broken, GBP/USD could fall further to 1.2540. Personal view: I expect GBP/USD to continue its slight recovery in the short term to test the resistance zone of 1.2700-1.2720. If it fails to break, the price will reverse and retest the support at 1.2600. However, if there is a strong news factor supporting the pound, the pair could break above the 89 EMA and open the door for further gains.
by Maria_aaa
Recovery Trap or Breakout Opportunity?On the EUR/USD 4-hour chart, the bearish bias remains dominant. The pair is attempting to recover from the recent low at 1.0540, however, the important resistance zone around the 34-EMA (1.0600) is holding back the upside momentum. If EUR/USD fails to overcome the resistance zone of 1.0600 - 1.0620 in the coming sessions, selling pressure will return strongly, pushing the price towards the support zone of 1.0550 and even 1.0500. On the contrary, a clear breakout above 1.0620 could open the door to a test of the 1.0650 zone, however, the upside outlook remains challenging amid the long-term downtrend. Trading Strategy: Short: When price fails to break above 1.0600, place a sell order with target at 1.0550 and further at 1.0500. Long: Consider buying if price breaks above 1.0620 with high volume, target at 1.0650.
by Maria_aaa
Gold in Bears' ControlI am watching the recovery in gold, currently trading around $2,586/oz. With the USD rising sharply after President-elect Donald Trump's victory and expectations of higher inflation, the Fed is likely to maintain high interest rates. This is creating significant pressure, making it difficult for gold to continue to break above the 34-EMA and 89-EMA. In addition, comments from Fed Chairman Jerome Powell about not being in a hurry to cut interest rates further reinforced the USD's bullish momentum and reduced the appeal of gold. However, geopolitical tensions in the Middle East and between Ukraine and Russia remain a slight support factor for the precious metal's safe-haven status. Personal view Key resistance: $2,600–$2,625, which the price needs to break above to generate upside momentum. Potential support: $2,550, which is an important area I will wait to test. If the price fails to surpass $2,600, I believe there is a high possibility of a further decline to $2,550, consistent with the current market scenario. I will prioritize a short-term selling strategy in the resistance zone.
OANDA:XAUUSD
by Maria_aaa
Price compression signals a strong trendCurrently, EUR/USD is trading around 1.0540, in a clear price compression zone. The 34 and 89 EMAs still show that the downtrend is dominant. The price remaining below these EMAs further reinforces the selling pressure in the market. Technical analysis: Nearby resistance: 1.0560 - the 34 EMA zone, where the price may face strong selling pressure if approached. Nearby support: 1.0520 - this is an important support level, if broken, it will trigger a stronger downtrend. Price pattern: The price is forming a symmetrical triangle structure, suggesting a possible breakout in the near future. Personal view: I see the market waiting for a decisive breakout. If it breaks below 1.0520, the next downside target will be 1.0480. Conversely, if the price breaks above 1.0560, it is likely to test 1.0600. However, with the downward pressure from the strong USD, I am leaning towards the bearish scenario. Trading Strategy: Sell: On a break below 1.0520, target 1.0480. Buy: On a break above 1.0560, target 1.0600.
by Maria_aaa
GBP/USD Faces Strong Selling, Downtrend May ContinueLooking at the 4-hour chart of GBP/USD, I notice that the pair is in a clear downtrend, with the EMA 34 and EMA 89 both sloping down, indicating strong selling pressure. The current price is approaching the bearish support line below the 1.2740 area. The psychological resistance zone around 1.2800 – 1.2850 has been tested several times but failed to break above. This shows that the selling pressure is still dominant and is likely to push the price further down if there are no signs of strong support. My trading plan is to wait for a small correction to the resistance zone of 1.2800. If the selling pressure persists in this area, I will consider entering a short position with the target of approaching the lower support zone around 1.2700 or lower. Conversely, if price breaks and goes above 1.2850, I will re-evaluate my strategy.
by Maria_aaa
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Next Target Fibonacci ExtensionLooking at the USD/JPY 4-hour chart, I see that the uptrend remains quite strong, with the price trading above both the 34 EMA and the 89 EMA, suggesting that the bullish momentum continues to hold. Based on the Fibonacci extension analysis, I am particularly interested in the 1.618 level around 157.00, which could be the next key resistance. I expect a short-term correction before continuing the uptrend towards this target. If the price falls towards the 0.618 Fibonacci support near 154.00, this would be an ideal opportunity to look for a long entry. Conversely, if the price breaks above 157.00, the uptrend could be further reinforced, while if the momentum weakens, the price could trade sideways around the EMAs.
by Maria_aaa
EUR/USD Under Pressure, Wedge Signals More WeaknessLooking at the EUR/USD 4-hour chart, I see the pair forming a falling wedge pattern, signaling a possible continuation of the downtrend. With both the 34 and 89 EMAs above the price and sloping down, this suggests that selling pressure is still dominant. In the short term, a key support level could be found around 1.0500. If EUR/USD breaks this support level, it is likely to continue falling further, aiming for further targets in the 1.0400 area. Conversely, if there is a bounce from the bottom of the wedge, the pair could retest the resistance at the top of the wedge pattern.
by Maria_aaa
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Gold prices fall sharply due to pressure from USD World gold prices are under downward pressure in the context of a stronger USD and rising US bond yields. The US CPI index in October increased by 0.2%, pushing inflation in the year to 2.6% as expected. This, along with the possibility of new taxes from the administration of President-elect Donald Trump, is making investors believe that the FED may pause interest rate cuts, leading to gold prices falling for four consecutive sessions. On the morning of November 14, the world gold price fell to 2,573 USD/ounce, down 46 USD from the previous session's high of 2,619 USD/ounce. On the daily chart, the gold price has broken the uptrend channel and is currently continuing to decline. The next support levels are at 2,492 USD and 2,444 USD/ounce. If the price holds above this support level, a short-term recovery may occur. However, if the price continues to break these levels, the downtrend is likely to continue.
OANDA:XAUUSD
by Maria_aaa
Gold Hits 7-Week Low Amid Rising Yields and Dollar PressureGold prices are under pressure as the US dollar strengthens, US Treasury yields rise to 4.5%, and demand for gold from China declines. In the recent trading session, gold prices fluctuated sharply, falling to a 7-week low of $2,599/ounce. Market sentiment is gradually losing confidence in gold, with many investors selling off to preserve capital. In addition, US stocks also weakened as the Dow Jones and S&P 500 both fell, adding more pressure to gold. If factors such as the US dollar do not decrease and gold demand does not recover, the possibility of gold prices continuing to decline is still very high in the short term. In the short term, gold prices are likely to continue to be under downward pressure if the US dollar maintains its strength and US bond yields remain high. The nearest important support level could be the $2,580/ounce area. If the price breaks this level, the downtrend could extend to lower levels, towards the $2,550 area. Conversely, if there is significant buying pressure, gold could recover slightly, but the possibility of maintaining a strong upward momentum is low as economic factors remain unfavorable for this precious metal.
OANDA:XAUUSD
by Maria_aaa
EUR/USD: Double Top Pattern Signals Strong Bearish MomentumLooking at the current EUR/USD chart, I see that a double top pattern has formed, marking a strong reversal in the trend. After hitting the resistance zone at 1.1200, the price rejected that high and dropped to the support zone around 1.0700. Currently, the pair is within this support zone, but there are signs of further downside. The EMA 34 and EMA 89 are both pointing down, reflecting that the downtrend is still dominant in the medium and long term. This shows that selling pressure is very strong and the price is likely to continue to correct further down. If the support zone at 1.0700 is completely broken, my next target is expected to be around 1.0500. This is an important psychological support zone, and if it continues to fail, selling pressure will push the price down even lower. In the short term, I will wait to see if the price recovers slightly, but the main strategy is still to wait to sell when the price breaks the support levels.
by Maria_aaa
EUR/USD Potential Support Break in Descending Triangle PatternBased on the current EUR/USD chart, I notice that the pair is moving within a descending triangle pattern, a potential sign of a continuation of the downtrend. This is reinforced by the position of the 34 EMA and 89 EMA, both of which are sloping down and above the current price. This bearish bias suggests that selling pressure is overwhelming the market. With EUR/USD continuing to decline within the triangle, I believe that there is a possibility that the price will break the support at the lower edge of the triangle, especially since the pair has failed to break above the 34 EMA. The next important support level could be around 1.0600. If it breaks, EUR/USD is likely to continue to decline further.
by Maria_aaa
Gold Faces Sharp Downward Pressure as USD, Stocks Sink CapitalLooking at the recent gold price chart, I noticed that the downward trend of gold is becoming clearer. Currently, gold is trading around 2,622 USD/ounce, marking a significant decline, especially when the USD Index rose to 105.5 points. With the strength of the USD reaching its highest level in more than 4 months, gold prices have been under great pressure from the greenback. Another important factor is the impact from the energy and stock markets. Crude oil prices fell to 68 USD/barrel, combined with the recovery of US stocks, creating momentum for capital flows into assets with more attractive returns, reducing the attractiveness of gold. In addition, demand from China also contributed to increasing pressure on gold prices. The Chinese central bank has suspended gold purchases for six consecutive months, reducing demand. As a result, investors quickly took profits and sold gold, contributing to this sharp decline. In the short term, I believe the next support level for gold could be around $2,600/ounce. However, given current macroeconomic factors and pressure from other markets, gold is likely to continue to struggle to maintain its growth momentum.
OANDA:XAUUSD
by Maria_aaa
GBP/USD Facing Bearish Pressure, Testing Key SupportLooking at the GBP/USD chart, I see that the pair is in a downtrend and is facing a strong resistance zone around 1.2920. The price has formed a descending structure with lower highs and lower lows, along with moving below the 34 and 89 EMAs, indicating that the bearish momentum is still strong. The key support zone is currently located in the range of 1.2880–1.2900, which could act as a buffer in the short term. If the price breaks this zone, GBP/USD could continue its downward trend, with the nearest target at 1.2800. Conversely, if this support zone holds and buying pressure appears, I will be watching for a possible recovery to the 1.2950 resistance zone. However, I still favor the bearish scenario due to pressure from the larger trend and weakening bullish momentum.
by Maria_aaa
USD/JPY Faces Resistance, Upcoming Trend May Correct DownLooking at the USD/JPY chart, I notice that the pair is currently approaching a strong resistance zone near 154.0. The price has reached this zone and is showing signs of turning around, which could signal a weakening of the current bullish momentum. Furthermore, both the 34 EMA and 89 EMA are below the price, indicating that the uptrend is still in place, but it seems to be starting to weaken as it meets resistance. Given the current situation, I am looking at a short-term downside correction in USD/JPY. If the pair fails to break above the resistance at 154.0 and continues to be under selling pressure, we could see the price fall to the support zone around 153.0 or lower. This is the area that I will be looking at for buying opportunities if the price shows signs of recovery.
by Maria_aaa
USD/JPY Double Top Pattern PredictionFrom my observation on the USD/JPY chart, there are signs that the pair may be forming a double top pattern. The current key top is around 156.0 – this is a strong resistance level that the price has reached twice without being able to break out. This is a warning sign for a possible reversal, especially when buying pressure starts to wane. With the double top pattern, if the price drops and breaks through the support area near 152.0, I think there is a high chance that the pattern will be confirmed. In this scenario, the downtrend could continue, and the price could head towards the lower support area around 151.0. That would be a point where I would consider entering a short position if the downtrend is confirmed.
by Maria_aaa
Gold Faces Strong Selling Pressure, Heading Towards Key SupportGold is facing strong selling pressure below a descending trendline defined by lower highs. All three approaches to this trendline were rejected, indicating strong short-term selling pressure. With the current selling pressure, I think there is a high possibility that the price will continue its downtrend and head towards a strong support zone around $2,650/ounce. If this support zone is broken, the downtrend could push the price further down, towards $2,620 or even lower.
OANDA:XAUUSD
by Maria_aaa
Will we get Breakout this time in Bitcoin?Hello Everyone i hope you all will be doing good. From now i will always gonna to be put my analysis on Cryptos as well. Today i have brought analysis on Bitcoin. Right now BTC is trading at very important resistance zone, this time possibility is very high for breakout. if you check weekly analysis, you will get that price is forming vcp kind of pattern and it seems we have reached in that area where prices can give breakout and price should move very heavily for upside. Any breakout in Btc can take it towards 80k+ and finally it can find resistance at 84k.. I already have written this on chart but pasting it here as well for reference. (Higher Probability for breakout this time. But i think everyone should wait for perfect level to get long entry. on 7th june btcusdt has made high at 71997, i think we should wait to surpass this level for more confirmation. In case of breakout and good entry then 67500 can be best stop Loss, for short term, and 64665 can be best stop loss for medium term to long term.) 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.
Long
by TraderRahulPal