GBP/USD's rebound from 1.3410 resumes after breaking the temporary top at 1.3670. Intraday bias seems to be back to the upside. Sustained trading above 1.3717 will target 1.3912 key structural resistance next. On the downside, however, a break of 1.3565 minor support suggests that a rebound from 1.3410 had been completed and the fall is ready to resume.
XAUUSD - After impulsively moving up yesterday and breaking through an important zone of 1780, Gold is currently consolidating and we are expecting a retest of the zone where the confluence of an ascending trendline is also present. Keeping things simple is the key to profits in Forex. Good luck!
Bullish Indicators: 1) HH HL 2) Support zone at 1.05491 Fib level 50.00% 3) Uptrend/Ascending channel Bearish Indicators: 1) Resistance zone at 1.06132 Fib level 61.80% 2) Breaking of lower trendline Plan A: One can take a long position on the bounce from the support level 1.05491 Fib level 50.00%. Plan B: One can take a short position on the breaking of lower...
USD/JPY witnessed some selling and the 4-day winning streak finally ended. A cautious market mood benefited the safe-haven JPY and exerted some downward pressure. Technically weekly, daily and 4H all indicate resistance. Consequently, between 114 and 113.71. It can test immediate support area around 112.70.
The crypto pair is approaching a major Weekly support between 0.00041 - 0.00034. This demand zone acts as a major threshold between bullish and bearish price action. If bulls could manage to protect this zone, then we are likely to see this pair once again challenge the falling resistance around 0.00062. If we manage to climb above this then LINKBTC is likely...
Printing a bullish Flag on Weekly Time Frame. It needs to break above 0.078 in order to validate this pattern. Once we see a break and hold above 0.078, ETHBTC is likely to head towards 0.086 followed by 0.10 initially followed by 0.1135 as eventual target. On downside major support are seen around 0.054 followed by 0.47.
ALICE seems to be in final stages of its Bullish Cup and Handle Pattern. It needs to break and stronghold above 13 to trigger an aggressive bullish move towards 18-20 initially followed by 24 and 32 in coming weeks. ALICE can fall max around 10.20 and 9.40.
EURGBP is consolidating around a strong support and the low of this year. Upside from this point is highly likely especially considering the break of the bearish trendline and the completion of the harmonic pattern. Let us know what you think in the comments below!
Broke a major horizontal support at 33.50 followed by breach of major trend driver EMA which was not taken out since 20 July. ATOM is now likely to find supports at lower levels around 28.70 followed by a strong multiple support at 26.70. This is where strong buying is likely to be seen.
Intraday bias in EUR/USD turns positive at this point. Further fall is still in favor as long as 1.1639 minor resistance holds. A break of 1.1528 will resume a larger decline towards the 1.1289 level. On the upside, a break of 1.1639 resistance, however, will indicate short-term bottoming. intraday bias will be turned back to the upside for the stronger rebound.
AUDJPY has reached an important supply level on a higher timeframe and has printed a bearish Engulfing on the 1H TF. A short attempt might prove to be fruitful here with a stop-loss of 83.550 Target 1: 82.900 Target 2: 82.400
As promised in our previous post, here is the long-term view of Bitcoin which is currently sustaining and trading above the $55,000 mark indicating buyers may be holding on to their positions and expecting higher prices in the short-term. If the uptrend is to resume and the Bulls push the price above $60,000 then a retest of the all-time high at around $64,800...
Bullish Indicators: 1) Double bottom 2) Support at 0.91131 Bearish Indicators: 1) LL LH 2) Downward Trend 3) Descending upper trendline 4) Resistance at 0.91752 Fib level 23.30% Plan A: One can take long position on the breaking of descending upper trendline for the target of 0.92290. Plan B: On the breaking of support level 0.91131 one can take short position...
Cap needs to break the falling resistance in order to move towards the eventual target of 1.80T. Major levels of resistance are around 1.35T followed by 1.42T. Doing so would open ATH's for market cap. Initial support is seen around 1.2T followed by 1.15T.
USDCAD is currently hovering around an important support area (1.24200). A decent bounce can be seen here and if timely executed, a few pips can easily be caught. On the flip side, if this level breaks, a deeper fall towards 1.20000 can be seen.
SRMUSDT Price approaching major trendline support. If SRM finds support between 7.30-7.00 then it's likely to head towards 9.00 initially. To target further upside price would need to sustain above 9.00. Doing so would open 10.7 followed by 12.50 next. However, any breach of 7.00 would open 6.20 as the next support.
Intraday bias for AUDUSD remains bullish as it ascended from the 0.76190 level. Further upside can be seen towards 0.74800 if it continues. On the downside if 0.72240 breaks then a fall would resume to test the low at 0.7105
Following an aggressive move to the downside, GBPNZD has been moving up correctively for the last month or so. It is now approaching a critical area where we can see some powerful confluences stacked up. Keep an eye out for this level and set your alerts!