We previously observed a clear breakout of a vertical trend line on a short-term chart. Following this, the price displayed several bullish signals on a 4-hour timeframe. Initially, there was a double bottom formation with a break above the neckline. Subsequently, the price also broke through a resistance level within a horizontal range. Overall, market...
Gold is currently experiencing a downward trend on a daily basis. Last week, the price dropped below an important horizontal support level and remained below it. This has created a supply zone with a broken structure and a descending trend line. Today, there was a significant bounce back from the lower boundary of this zone, indicating strong resistance. It...
Update for 📉BITCOIN We have observed a clear bearish breakout below a support level on the daily chart. There is a significant bearish sentiment in the market, indicating a high likelihood of further downward movement. It is expected that the price will continue to decline, potentially reaching the support level at 52500.
The DOLLAR INDEX has recently approached an important horizontal support level. Following a successful test, the price has broken and closed above a resistance line of a bullish flag pattern on the 4-hour time frame. This suggests potential for continued upward movement in the pair, with a target of 106.53.
USDCAD shows several signs of a bullish trend, after testing a significant intraday support level. These include breaking through a resistance line in a falling channel and surpassing the neckline of a double bottom pattern. We can anticipate upward movement with targets at 1.3719 and 1.3750.
Following a break of a significant support level on the daily chart, Gold tested a nearby support level. The price was consistently rising within a bearish flag pattern on the 4-hour chart. The test of previous horizontal structure prompted a strong bearish response, causing the price to breach the flag's support level. This indicates strong selling pressure...
The GBPCAD broke through a significant horizontal resistance and closed above it. This sets the stage for a potential uptrend continuation. The next resistance level to watch is at 1.7216.
Following a test of a daily horizontal resistance, the EURNZD currency pair created a descending triangle pattern on a 4-hour time frame. The next support level appears to be at 1.7909, which is likely to be the target for sellers. To enter a trade, one could look for a retest of the broken neckline of the triangle.
The AUDUSD pair reached a new peak and closed higher on a 4-hour chart, breaking through a strong horizontal resistance level. The shattered resistance level and a trend line now form a narrowing area of buying interest. I anticipate a rise in price from this point, with a target of 0.6650.
After a significant decrease in value over the past two weeks, Ethereum has now stabilized and is showing signs of consolidation. A bullish accumulation pattern, specifically an ascending triangle formation on a 4-hour chart, is evident. The current focus is on testing the neckline of this pattern. A breakout above 3288, indicated by a 4-hour candle close,...
Gold successfully broke through the neckline of an ascending triangle on a short-term chart and ended the day above it. This signals the strength of buyers and raises the likelihood of a broader bullish trend in the market. Following a retest of the breached level, buyers will be aiming for targets around 2360 to 2380.
The USDCAD is experiencing a slight downward trend on a 4-hour chart, moving steadily within a descending parallel channel. It is in a strong horizontal support level, and I anticipate that the downward movement will continue once it breaks through this support. To confirm this, we will need to see a 4-hour candle close below 1.3657. If this happens, we can...
The NZDUSD chart shows an ascending triangle pattern following a successful test of a strong horizontal support level. The breakout above the neckline indicates strong buying momentum, suggesting that the pair will likely continue to rise, possibly reaching 0.6010.
The GBPUSD chart showed a significant head and shoulders pattern on a 4-hour time frame. The neckline was broken by an intraday candle. The pair is expected to continue rising, with a target of 1.2573.
AUDUSD has surpassed and closed above an important intraday horizontal resistance level. This previous resistance has now become a support level. There is potential for further growth in the market, with targets set at 0.6544 and 0.6583.
EURJPY is currently experiencing a robust uptrend. Following a recent high, the market has been trading in a wide horizontal range. A bullish breakout above the range's resistance could indicate a continuation of the upward trend, potentially leading to price levels around 166.00 / 166.50.
GBPNZD formed a double top pattern after reaching a significant horizontal resistance level on the 4-hour chart. The price broke below the neckline of the pattern and a rising trend line, indicating strong bearish momentum. A downward movement towards the 2.0833 level is likely.
We observed two unusual breakouts on the DXY chart. The market had been in a consolidation phase for about a week plus, during which the price formed a triangle pattern and a horizontal range. Both the triangle support and the range were broken, indicating strength in selling pressure. This suggests that the price could potentially drop to the 105.00 support level.