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Trend Line Break

GOLD → Area of Interest 2475. What's next? 2450 or 2500?FX:XAUUSD is shedding downward on the background of unexpected NFP, which was published on Friday. The dollar is rising, which is generally negative for the metal. But, globally, gold is still strongly bullish.... The first half of the week should be extremely quiet, as important news will not start to arrive until Wednesday. Traders are waiting for CPI, PPI, as well as the Fed meeting scheduled for September 18, where they are expected to make a decision on interest rate cuts. A rate cut makes currencies cheaper, which only increases the interest in gold. Technically, the price of gold can't consolidate above 2500 and is trading below the critical level of 2494, indicating buyer weakness, which goes into the accumulation or waiting phase.... Resistance levels: 2493, 2500 Support levels: 2485, 2475, 2450 Technically, it is worth considering a decline and a retest of 2475, as after the upward rally from below there is a huge pool of liquidity that attracts the market. Further, further scenario will depend on the market reaction to the range support: False breakdown may give a chance for growth to 2500, and breakdown and consolidation below 2475 may provoke longsqueeze to 2450. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
16
GOLD → Aggressive bulls and double bottoms. What's next?FX:XAUUSD is testing the support of the range, forming a double bottom and distribution. Buyers are not ready to say goodbye to 2475, aggressively holding this area. Price is heading towards the upper end of the range. Bulls held global support, bringing price back to ATH amid expectations of key economic data from the US. NFP, and inflation data on Friday weigh on markets' assessment of the size of the Fed's rate cut this month. Gold traders will be focused on ADP private sector employment data, Initial Jobless Claims and ISM services PMI. Technically, the focus is on the 2526 - 2504 range. Such a strong move (distribution) is fraught with a false breakdown and rebound, but there are fundamental nuances: favorable news can strengthen the rally and break the resistance, while negative news can turn the price all the way to 2475. Resistance levels: 2526, 2531 Support levels: 2510, 2504, 2494 Emphasis on the retest of resistance 2526. High probability of a rebound to 0.5 fibo. Further, the market will be influenced by economic data, which will be published from 12:15 GMT. It is not excluded that the price will reverse earlier or fly to 2550. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
43
USDJPY → Consolidating before the news.... FX:USDJPY has been in consolidation for a long time, correlating with the dollar. Traders are waiting for key news and are not ready to act early. The currency pair is in the downward phase, which is a consequence of the strengthening of the Japanese yen on the background of the dollar's decline. The Central Bank of Japan actively considered the issue of raising rates, but postponed this step for later because of destabilized markets. Today is an important report on inflation in the USA. So far, everything is going according to the Fed's plan. Markets are actively plotting the start of a Fed rate cut in September. Technically, the bearish trend may continue, there is a huge pool of liquidity above 147.9, which may be liquidated before further decline. Resistance levels: 147.9, 150.2, 150.86 Support levels: 146.29, 144.04 Technically and fundamentally we have prerequisites leading to a possible decline. We should wait for news to take some actions.... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:USDJPY ;) Regards R. Linda!
Short
by RLinda
26
EURUSD → A retest of the liquidity zone. Ready to go to 1.130FX:EURUSD is testing the liquidity zone within the correction. False breakdown of the channel boundary may form another bullish potential for continuation of growth to 1.1300 The currency pair forms a false breakdown of 1.1123, after which it enters the correction phase amid a strong market. The price is testing 0.236 fibo on D1, forming a false breakdown we get a reaction in the form of a pullback. On H4 the situation is even more interesting: false breakdown of the support conglomerate: 0.5 fibo + channel boundaries, which only strengthens the bullish set-up. Today the focus is on CPI in the Eurozone, as well as Core PCE in the US. High volatility is possible and the news may set a short-term tone in the market. Resistance levels: 1.1099, 1.1201 Support levels: channel boundary, 1.1061, 1.1047 The task of the bulls is to keep the defense above the resistance of the ascending channel, as well as above the level of 1.1099 - 1.11, in this case the price will consolidate above the lower boundary of the new bullish channel, which will open for us the potential for growth to 1.1300. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Long
by RLinda
4
LTC → Price exit from accumulation ↑BINANCE:LTCUSDT is coming out of accumulation, breaking the structure of the “descending wedge” pattern - a rather strong bullish pattern. Price is still pinned by resistance, but the bulls have a chance... Globally, there is no trend in the market. The price is in a sideways movement between 114.0 - 56.0, which I consider a positive reason for a possible rise, as the price moves between the levels in a range. But we have prerequisites for possible growth (consolidation above MA-50, break of the wedge resistance), theoretically the price can head towards the resistance of the global range. Emphasis on the area of 0.5 fibo - 67.8. If the bulls successfully manage to keep the defense above the mentioned zones, in the mid-term the coin can show a good realization towards 76.9 - 88.6. Resistance levels: 67.8, 76.9 Support levels: descending line, MA-50, 0.5 Fibo Perhaps the primary retest of 67.8 will not bring success and the price may form a small correction, but the gradual return of the price to the retest will increase the chances of a breakout. A fixing above the level will be a good signal for growth! Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:LTCUSDT ;) Regards R. Linda!
Long
by RLinda
5
GOLD → Risk zone! One step away from a prolonged correctionFX:XAUUSD is trading in the lower half of the key range. The price failed to hold above 2493, the market is spilling back to support. But, there are nuances pointing to both a rebound and a possible fall..... The trend is still bullish. The price is entering the risk zone of 2470 - 2480. If the bulls do not keep the price above this zone, we should expect a prolonged correction. But, there are Initial Jobless Claims and NFP report ahead, which traders are waiting for so much. The economic nuances can both strengthen local movements and revive the global trend. On H1 the price is strongly declining to the support, such a fast movement is fraught with a rebound, which can bring the price back to 2493 - 2500 and this is probably the key movement. But there is a but everywhere! It is hard to tell from the volumes that the buyer is ready for any action. False breakout and consolidation above 2477 may affect the growth. Resistance levels: 2493, 2500 Support levels: 2477, 2473, 2450 But the fall is not excluded. If there is no reaction to the 2477-2473 zone in the form of a rebound, and gold starts to consolidate near the support, then we should consider a decline, the key target of which could be the 2450 zone and the trend line on D1. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSD
by RLinda
16
Gold Demand Surges in Asia as Local Currencies Weaken the gold market is expected to maintain a soft upward trend. This projection is supported by several factors, including technical indicators showing positive momentum that isn't yet in the overbought zone, suggesting that the path of least resistance is upward. In the short term, the price of gold is likely to stay around the $2,500 level, with possible resistance at $2,480 and support near $2,430. If there is a significant pullback, it could be viewed as a buying opportunity, especially if prices dip towards these support levels. However, a break below $2,400 could indicate a deeper correction​ Overall, the gold market is showing a bullish bias, with the possibility of prices continuing to rise throughout the month, influenced by ongoing geopolitical tensions and economic uncertainties​
OANDA:XAUUSDShort
by BELLATRIXFX
GBPNZD → Realization (distribution) phase. Target 2.065FX:GBPNZD is in the phase of realization of the previously accumulated potential (descending triangle), at the moment a counter-trend correction is formed, directed to the liquidity area. The fall may continue. The currency pair entered the range of 2.117 - 2.095. The lower boundary and the liquidity area have not been tested yet, so the potential target is still valid. The counter-trend correction is due to the counter-trend growth of the dollar against the main basket of currency pairs. On H4, there is a conglomerate of strong resistances ahead, which may prevent the price from the first time, accordingly, a false breakdown and further decline should be considered. Resistance levels: 2.11, 2.113, 2.12. Support levels: 2.098, 2.085 The breakdown of the structure, character and the formed confirmation of the bear market indicates that the counter-trend correction can be stopped from the liquidity pool area, so the downward movement can be continued from the mentioned resistance Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPNZD ;) Regards R. Linda!
Short
by RLinda
4
Star Health: Trendline Breakout Signals Bullish ReversalStar Health is showing promising signs for long-term holding. The chart shows a clear downward sloping trendline that has been respected for a considerable period. Recently, the price has broken above this trendline, indicating potential trend reversal from bearish to bullish. The immediate swing high at ₹675 is a crucial level to watch. This level may act as resistance in the short term. If the price manages to break above this swing high, it could open the door for a move towards the supply zone. However, if the price faces rejection at this level, a pullback could occur. The chart suggests a potential scenario where the price could retrace after testing the swing high at ₹675. This retracement could provide a good opportunity for accumulation if the price finds support at lower levels, such as the ₹560-580 zone. There is a significant increase in volume during the breakout, which adds strength to the bullish case. Key support levels to watch include the ₹560-580 zone, where the price previously found support after the breakout There is a marked supply zone between approximately ₹770 and ₹820. where sellers have previously stepped in, leading to price declines. If the price approaches this zone again, it may face significant resistance. Consider entering a position if the price holds above ₹675 or on a pullback to the ₹560-580 zone. Accumulating during pullbacks with proper risk management could be a prudent strategy. Be cautious of potential reversals or rejections at the ₹675 swing high or within the supply zone. This is not a Buy Recommendation, just an idea. Please give a boost and comment if you like my analysis and feel free to share with others. Disclaimer: I am not a Sebi Registered Analyst, and the views expressed are of my own and for educational purpose only, Make sure you consult your financial advisor before investing, as I wont be Responsible for any losses incurred.
NSE:STARHEALTHLong
by Kaushik_Karnale
Amazon - Give me another -10%...NASDAQ:AMZN did not create a sustainable all time high yet and might head lower short term. Click image above to see detailed analysis Short term counter-trend moves are always very welcome because they allow you to enter trading opportunities within a major higher timeframe trend. After Amazon actually broke above the previous all time high but immediately closed back below, we knew that this was a false breakout. If we get a short term move lower, we might get another textbook trading opportunity. Levels to watch: $140 Keep your long term vision, Philip - BasicTrading
NASDAQ:AMZNLong
by basictradingtv
12
GOLD → Retests of 2531 continue. Bulls want to go to 2550FX:XAUUSD continues to strive upward to overcome 2531. The price does not react to the dollar growth and forms a pre-breakdown consolidation in the format of an ascending triangle. US GDP data slightly cooled market expectations of a significant rate cut in September, the US dollar rebounded strongly. However, this failed to deter gold buyers, who continue to consolidate and move closer and closer to key resistance. Interest in gold is being instilled by geopolitical tensions in Eastern Europe as well as the Middle East. Ahead is the PCE inflation data in the US. Traders are waiting for hot data, if expectations are confirmed by actual data, the market will continue sideways movement on the background of dollar correction. Technically, the consolidation has the character of a breakdown formation with the aim of breaking through 2531 and further growth to the psychological data. Resistance levels: 2531 Support levels: 2517, MA-50, trend We continue to watch 2531, another retest and slow price approach to the level may break this zone, which may form an upward impulse. But, unpredictable news may break the structure and finally close the price in flat until next week. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
5
EURCAD → A change in sentiment to bearish. MA-200 breakdownFX:EURCAD breaks trend support and spills to the downside as funds increase long positions on the Canadian dollar, whose rise is directly linked to the fall in DXY. On D1, we see the currency pair returning to the range (1.5040 resistance) after a deep false breakdown. Accordingly, after the short-squeeze the market has potential - liquidity located at the bottom. Accordingly, in the nearest future the market may test 1.497, then 1.493. BUT! On H4 there is a strong zone of 1.498 ahead. There is a high probability of a false breakdown and correction before a further fall, because below this zone there is a huge pool of liquidity, which will not let the price pass the first time. Resistance levels: 1.506, 1.5085 Support levels: 1.498, 1.49 The 200&50 SMAs act as resistance, which indicates the current market sentiment. If the market is weak, a correction may not happen, bears may break the level quite quickly. In any case, it is worth watching the price reaction at 1.498 Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURCAD ;) Regards R. Linda!
Short
by RLinda
5