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Trend Analysis

Gold DowntrendBased on the 1-hour chart of gold trading against the USD, I see a few key points for investors to pay attention to. After a strong rally, gold has seen a significant drop, with the price breaking below both the 34 EMA and 89 EMA, suggesting that a short-term downtrend may be forming. From a technical perspective, the crossover between the two EMAs has previously been a sign of a trend change, and the current price holding below these lines suggests that selling pressure may continue. This rapid decline could be the result of investors taking profits after the price reached new highs.
OANDA:XAUUSD
by Maria_aaa
USDJPY: Fluctuating Between Pressure and ExpectationsUSDJPY is hovering around 152.296 after failing to sustain above the key resistance level of 156.438. The EMA 34 and EMA 89 lines currently act as critical "cushions," yet they remain insufficient to alleviate the prevailing downward pressure. The RSI has dropped to 46.82, signaling weakening bullish momentum and a likelihood of continued short-term downtrend. Should USDJPY break below the EMA 89, the next target could be the deeper support zone at 141.898 – a historical low that has demonstrated its strength in the past. However, U.S. monetary policy, particularly signals from BofA about a stronger dollar, continues to exert significant pressure on the Japanese yen. Additionally, expectations of the FED maintaining its hawkish stance further intensify the tension for USDJPY, balancing between medium-term bullish hopes and short-term bearish pressure. Investors should closely monitor price movements around these critical support levels, as a “breakout” could lead to significant volatility, creating substantial opportunities or risks in the near future.
Short
by Sophi-A
EURUSD: Downward Pressure DominatesEURUSD is currently trading around 1.04836, remaining in a downtrend defined by the main descending trendline. The EMA 34 and EMA 89 are acting as strong resistance levels, blocking any recovery attempts by the currency pair. Based on the chart, the resistance zone at 1.05344 is a critical level that needs to be broken to confirm bullish signals. However, with reports from BCA suggesting that the recovery of the Euro and European equities might soon come to an end, the likelihood of increased downward pressure is high. If the price fails to hold above this zone, EURUSD may return to test the support near 1.03844, which has proven to be a solid support area in the past. Should selling pressure persist, a break below 1.03844 could push the price lower towards the support zone around 1.03000. Traders are advised to closely monitor price action at these resistance and support levels to adjust their trading strategies accordingly.
by Sophi-A
Gold Prices Rise Steadily, Testing the 2,658 USD/oz LevelGold prices increased for the third consecutive session, reaching a one-week high of 2,647.43 USD/oz on November 20, supported by its role as a safe-haven asset amid escalating tensions between Russia and Ukraine. However, the rally was capped by a recovering USD, making gold more expensive for international buyers. The 2,551 level has been confirmed as strong support after two successful tests, prompting a sharp rebound. The 2,658 level is the next immediate target for prices to break, while the 2,789 zone is the next potential peak if the bullish trend persists. Following a significant correction from the previous high, gold may form a double-bottom pattern around 2,551, signaling strong buying pressure. Currently, prices are testing the 2,658 resistance level and show signs of continuing the upward trend if this level is breached. If a pullback occurs, the 2,652 zone (EMA 34) will serve as an essential support level to watch.
OANDA:XAUUSDLong
by Vanna-Cris
Technical analysis of XAUUSD chartDear friends, it's Samson here! Flag Pattern: The chart showcases a well-formed flag pattern, a classic bearish continuation signal. Target Projection: Using the height of the previous wave 3 of the flagpole, the pattern's target is forecasted to be around $2,553. Fibonacci Levels: The price is at a level corresponding to the 0.618 Fibonacci retracement at $2,637, a strong bearish signal, with the next resistance near $2,647 (0.5 Fibonacci retracement). Breakout Confirmation: A breakout from the flag will confirm the bearish momentum. Trend Outlook: A macro bearish trend is indicated, supported by resistance rooted in fundamental factors... Consider, share your opinions and questions, discuss what is happening with OANDA:XAUUSD
OANDA:XAUUSDShort
by Bo-Samson
3
My Analysis of EURUSD (1 Hour Chart)Hello everyone, Ascending Channel Formation: Price is moving within a clear ascending channel, with higher highs and higher lows forming along the way. This structure suggests a temporary upside correction within the overall downtrend. EMA Dynamics: The 34 EMA (purple) is currently acting as dynamic resistance, rejecting multiple attempts to break higher, as indicated by the red arrows. The 89 EMA (pink) is closely aligned, consolidating the resistance zone and signaling bearish momentum when the price is below these levels. Key Resistance Zone: The upper boundary of the channel, near 1.0525, is a key resistance zone. This zone is consistent with the rejection from the EMA and is expected to limit upside momentum. Near-term Price Movement: I expect price to retest this resistance level and potentially fake out in the short term before moving lower. A break of the ascending channel to the downside would confirm a continuation of the decline. Target Level: The initial downside target is around 1.0450, near the middle of the previous range. If the decline continues, I expect the price to fall further towards the support level of 1.0352, which marks the lower boundary of my expected price. Risk Zone: A sustained break above 1.0550 would invalidate my bearish outlook and signal further upside. Conclusion: For now, I am watching how the price reacts at the upper boundary of the ascending channel and the EMA resistance zone. Any rejection or bearish candlestick pattern would confirm my short bias, focusing on the downside targets.
Short
by Bo-Samson
BankNifty Intraday Support & Resistance Levels for 28.11.2024On Wednesday, BankNifty started on a weak note but quickly recovered. It made a low of 52019.65 before rallying to a high of 52444.35. It closed at 52301.80, gaining 110 points from the previous close. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain sideways, reflecting a range-bound market. The index is currently trading within a critical supply zone, which may determine its next move. Demand/Support Zones Near Demand/Support Zone (30m): 51040.05 - 51271.50 Far Small Demand/Support Zone (15m): 50609.75 - 50824.55 Far Support: 49282.65 (61.8% FIBO Level) Far Demand/Support Zone (Daily): 44633.85 - 45750.40 Supply/Resistance Zones Near Supply/Resistance Zone (Daily): 51294.20 - 52493.95 (current price inside this zone) Far Supply/Resistance Zone (Daily): 52817.80 - 53235.25 Far Supply/Resistance Zone (Weekly): 53741.40 - 54467.35
NSE:BANKNIFTY
by PriteshPal
Nifty Intraday Support & Resistance Levels for 28.11.2024On Wednesday, Nifty opened flat and traded within a narrow range. It touched a low of 24145.65 and a high of 24354.55, eventually closing at 24274.90, up by 80 points from the previous close. For the past three days, Nifty has been consolidating in the 24100 - 24350 range, signalling indecision. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain sideways, indicating the market is waiting for a breakout. Demand/Support Zones Near Demand/Support Zone (15m): 23856.15 - 23940.30 Near Demand/Support Zone (15m): 23661.75 - 23731.25 Far Demand/Support Zone (75m): 23447.15 - 23578.60 Near Support: 23189.88 (61.8% FIBO Level) Far Demand/Support Zone (Daily): 22642.60 - 22910.15 Supply/Resistance Zones Near Supply/Resistance Zone (75m): 24447.65 - 24537.60 Far Supply/Resistance Zone (Daily): 24567.65 - 24978.30 (inside weekly supply) Far Supply/Resistance Zone (75m): 24636.75 - 24741.45 (inside Daily supply) Far Supply/Resistance Zone (Weekly): 24567.65 - 25234.05 A breakout beyond 24350 or a breakdown below 24100 could set the tone for the next directional move.
NSE:NIFTY
by PriteshPal
Dow Trading Strategy for 28th November 2024Trade Strategy for Dow Futures Buy: Enter a long position when the price moves above 45000 on a one-hour candle close. Sell: Enter a short position when the price drops below 44780 on a one-hour candle close. Current Price: 44879 Support and Resistance Levels Support Levels: 44780: This is the first line of defense where the price might find support and potentially reverse upwards. 44500: If the price falls below 44780, 44500 acts as the next significant support level. 44000: This is a major psychological level that could provide strong support. Resistance Levels: 45000: The initial barrier where the price might encounter resistance and potentially reverse downwards. 45200: If the price breaks above 45000, 45200 becomes the next key resistance level. 45500: This is a significant resistance level that could pose a challenge for further upward movement. Disclaimer Trading involves significant risk and it's important to do your own thorough research or consult with a professional financial advisor before making any investment decisions. The information provided here is for educational purposes only and should not be considered as financial advice. Always consider your risk tolerance and investment goals before engaging in trading activities.
BLACKBULL:DJ30.F
by ramkkyy
Gold Trading strategy for 28th November 2024Trade Strategy for Gold Current Price 2636.700 USD Buy: Enter a long position when the price moves above 2659 on a one-hour candle close. Sell: Enter a short position when the price drops below 2626 on a one-hour candle close. Support and Resistance Levels Support Levels: 2600: This is the first line of defense where the price might find support and potentially reverse upwards. 2550: If the price falls below 2600, 2550 acts as the next significant support level. 2500: This is a major psychological level that could provide strong support. Resistance Levels: 2700: The initial barrier where the price might encounter resistance and potentially reverse downwards. 2750: If the price breaks above 2700, 2750 becomes the next key resistance level. 2800: This is a significant resistance level that could pose a challenge for further upward movement. Disclaimer Trading involves significant risk and it's important to do your own thorough research or consult with a professional financial advisor before making any investment decisions. The information provided here is for educational purposes only and should not be considered as financial advice. Always consider your risk tolerance and investment goals before engaging in trading activities.
OANDA:XAUUSD
by ramkkyy
Bharat Electronics Ltd. - Breakout OpportunityDate : 27-Nov-2024 LTP : Rs. 307.35 Targets: (T1) Rs. 323 --> (T2) Rs. 340 --> (T3) Rs. 391 SL : Rs. 281 Technical View: • NSE:BEL is in strong primary uptrend and was recently going through it's secondary downtrend within primary uptrend. • After touching the high of 340.5 on 10-Jul-2024, it has retraced 24% to 257.45 level. • NSE:BEL has breakout from it's secondary downtrend with higher than average volume on 27-Nov-2024. • NSE:BEL is trading above 20 DEMA and 50 DEMA since last few sessions. 20 DEMA has crossed over 50 DEMA on 27-Nov-2024. • RSI is in buy zone and trading at 64.48. MACD is bullish and trading at 2.36. • Both RSI and MACD are showing positive divergence. • Looking good to start a new swing from here. Like the analysis? Boost/Like this idea and follow my ID. Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
NSE:BELLong
by vicky252
Is correction over in MCX?In the 75-minute chart in MCX, we can see that flat correction is going to be finished. This can be expected as the 0-B trend line breaks in less than half a time. (See that the lowest point from the trend line is formed in 25 candles, and the trend line is broken in 10 candles.) This is the primary indication of the end of correction. A risky buying opportunity exists at the current market price. The stop loss for this will be below the end of wave C, i.e., below the 5820 level. This is not a buying recommendation. Please always do your own research before you take any trade. This analysis is based on Elliott wave theory and Fibonacci. This analysis is for educational purposes only.
NSE:MCXLong
by theprofityogi