NovaFX23

NovaFX23

CHFJPY seems to be undergoing a bearish correction following a recent test of horizontal resistance on an intraday or daily chart. This pullback is signaled by the formation of a descending triangle pattern, confirmed by a breakout below its neckline. The price is likely to decline toward the 173.39 level.

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The EURJPY pair has successfully broken and closed above a key horizontal resistance on the intraday chart. The highlighted blue zone represents the neckline of a cup and handle pattern, signaling a potential bullish continuation. This breakout could pave the way for further upside, with targets set at 163.64 and 164.47. Traders may view the broken...

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The USDJPY seems overbought after yesterday's bullish rally. The pair could retrace from the marked blue daily resistance level, with a potential target around 156.48. Moreover, a double top pattern on the hourly chart provides additional confirmation.

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📉 NZDCAD Update Two major bearish patterns have developed on the 4-hour chart: a bearish flag and a double top formation. Both the neckline of the double top and the support level of the flag have been broken. A further decline is likely following a potential retest of these broken levels, with the next support target at 0.8179.

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Last week, 🔻EURAUD reached a key rising trendline on the intraday chart. Although the market had been consolidating horizontally for some time, the contact with the trendline triggered an upward movement. The pair has since broken above the range's resistance and closed higher. I expect the bullish momentum to continue, with targets at 1.6697 and 1.6763.

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After a recent pullback, gold has retested a key structure that was previously broken. Two strong bearish signals have emerged: the price has dropped below the neckline of a double top pattern and the resistance line of a bearish flag formation. These breakdowns indicate a high probability of a continued bearish trend, with the market likely targeting the...

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AUDCHF has ended its consolidation phase by breaking above a resistance level within a broad horizontal range on the 4-hour chart. This breakout suggests potential for further upside, with a target of at least 0.5721.

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**CADJPY Update** After consolidating within a horizontal range for over a week, a major news release yesterday triggered a bullish shift in the pair. On the 4-hour chart, the price has broken above the range's resistance level, signaling potential upward momentum. The next resistance to watch is at 108.49.

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📉 **EUR/USD Update** Two strong bearish confirmations have emerged on the EUR/USD chart following a brief pullback to a key horizontal resistance level that was recently breached. The price has now fallen below the neckline of a cup and handle pattern as well as the support line of a rising wedge pattern. This suggests further downward momentum, with the...

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📉 *USDCHF Update* The 4-hour chart reveals a large head and shoulders pattern. Following the release of US economic data on Friday, the price dropped significantly, breaking below the pattern's neckline. Later that evening, the price retested the broken neckline, confirming it as resistance. This development signals a likely continuation of the bearish...

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📈 GBPUSD Update The 4-hour chart shows strong signs of a bullish reversal: - A notable inverted head and shoulders pattern has formed. - The neckline of this pattern, along with the resistance line of a descending parallel channel, has been broken. I anticipate further upward movement from this point, with a target of 1.2833.

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⚠️ DOGS Update: Since my previous analysis, DOGS has developed a clear bullish pattern known as an ascending triangle on the daily chart. This formation suggests a phase of bullish accumulation, pointing to a strong potential for upward momentum. To validate this outlook, we will look for a bullish breakout above the triangle's resistance, confirmed by a...

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In our earlier analysis of the 📉Dollar Index, we highlighted a consistently bearish outlook. The price has broken below a rising trendline and the neckline of a double top pattern on the 4-hour chart. It is now testing the confluence zone formed by these breached structures. A decline appears highly probable, with target levels set at 105.70 and 105.43.

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A bullish reaction has emerged at a key daily support level on the CADCHF chart. After testing the highlighted blue zone, the price entered a consolidation phase, forming a horizontal range on the 4-hour timeframe. The breakout above the resistance level signals strong buying pressure, suggesting a potential bullish trend continuation toward the 0.6340 target.

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GBPCHF traded within a consolidation range for two weeks until a key news event triggered a bullish breakout. The pair decisively broke through a resistance level on the 4-hour chart, signaling the potential for further upward momentum. Key target levels to monitor are 1.1260 and 1.1287.

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Gold seems to be signaling a bearish trend following a brief corrective phase. The price has been moving within a bearish flag formation, but a recent support break has occurred. The market is likely to maintain its downward trajectory, with a potential decline toward the 2600 level.

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GBPUSD is currently testing a key support level on the short-term chart. For a potential short trade, watch for the formation of an ascending triangle on the 4-hour timeframe. A confirmation signal would be a breakout above the horizontal neckline, with a 4-hour candle closing above 1.2616. In this case, you could either enter an aggressive short position...

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Gold is nearing a convergence zone defined by horizontal support and a descending trendline. Furthermore, on the 1-hour chart, the price has formed an ascending triangle pattern and confirmed a breakout above the neckline. I expect a pullback toward the 2678 level.