GOLD is in a descending channel below the trend lines. The chart continues to decline from the resistance level. The price fell continuation. We expect the continuation of XAUUSD decline.
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The daily chart for the EUR/CHF pair has recently revealed a bullish movement, successfully breaking above its descending trend line. This development indicates a potential shift in market sentiment, occurring after the price touched a significant support level at 0.9250. The fact that the price has breached the downtrend line after reaching this support suggests a potential influx of buying pressure in the short term. Currently, the pair is trading near the horizontal resistance zone at 0.9400, which has been tested multiple times in the past. Possible Scenarios Buy Scenario: With the price having broken above the downtrend line, sustained trading above 0.9400 could signal a bullish move in the coming days. A stop loss could be placed around 0.9310 (approximately 90 pips below the current price). For a more conservative approach, a stop loss could be set below 0.9240 (about 160 pips). Take Profit Opportunities: TP1 at 0.9490, near the recent high (about 90 pips). TP2 at 0.9590, targeting the next resistance area (approximately 190 pips). Alternative Scenario: If the price fails to maintain itself above 0.9400 and retreats below the trend line, this could indicate a potential continuation of the downtrend. In such a case, a short entry could be evaluated around 0.9350: Stop Loss: Above the high of the previous candle, at around 0.9420 (approximately 70 pips). TP1: At 0.9250, which serves as significant support and a recent low (around 100 pips). Important Technical Factors to Note: Trend Line: The break of the descending trend line suggests a reduction in selling pressure. Resistance Zone: The area between 0.9400 and 0.9450 will be a critical test for buying strength. Strong Support: The 0.9257 level remains a crucial point that buyers have defended in prior downtrends. Fundamental Considerations Euro (EUR): The euro's strength is influenced by Eurozone economic data and the European Central Bank (ECB) decisions. The recent release of the Consumer Price Index (CPI), showing inflation at 2.2%, is close to the ECB’s target. This indicates that the ECB may adopt a dovish monetary policy in the short to medium term, which could negatively impact the euro's strength. EUR/CHF is at a pivotal technical crossroads. The break of the descending trend line supports a bullish outlook in the short term, with initial targets set at 0.9490 and 0.9590. However, a failure to overcome the current resistance could see sellers regain control, with possible targets around 0.9300 and 0.9257. Traders should closely monitor price reactions to these critical levels before entering positions. Disclaimer 74% of retail investor accounts lose money when trading CFDs with this provider. Consider whether you understand how CFDs work and if you can afford the high risk of losing your money. Past performance is not indicative of future results. Investment values may fluctuate, and you may not recover your initial investment. This content is not intended for residents of the UK.
https://www.tradingview.com/x/tHn6G9vU/ Looking at the chart of EURUSD right now we are seeing some interesting price action on the lower timeframes. Thus a local move up seems to be quite likely. ❤️ Please, support our work with like & comment! ❤️
I'm sharing with you another trade today and this time on CL | USOIL | USOUSD, you xan sell targetting the same level as mine with the same SL. Follow for more!
NZDUSD Daily Chart Long AB=CD + BB + Major Trend Line
Wave 1 expanding diagonal is finished and wave 2 is expanding. The yellow box will have the ability to rotate and start wave 3. Wave 3 has the ability to reach the level of 0.018. It will be updated after wave 2 is finished.
#VANA/USDT is retracing within a corrective downtrend, approaching critical support zones at $14.291 and $12.261, aligning with the 0.618 Fibonacci level. These levels present potential rebound zones, where buyers may step in to reverse the trend. A confirmed bounce from support could trigger a sharp recovery toward the $22.576 resistance and higher levels, supported by the bullish momentum indicated on the chart. A stop-loss below $12.261 minimizes risk
? #Litecoin Weekly Review #LTC broke out of the Symmetrical Triangle accumulation and flipped above the Mid-Zone as well? Once we have a fixation above the key zone I am looking for CRYPTOCAP:LTC to smash the fib zones✈️ ?0.382 - 0.618fib - 193.50$ ?0.786 - 0.618fib - 258$ ?1 - 0.786fib - 319.60$ This is a mid-term setup. Overall I am more bullish on LTC, just check previous charts?
We are currently observing a completed 5-wave structure and the emergence of wave A, which found support around $2.5. Now, price action is forming wave B, which aligns with a resistance area marked by the Fib 0.618 retracement and the daily level. Trade Setup: Short Entry: For a riskier entry, you can enter now and ladder your position up to the Fib 0.618 and 0.718 levels. A stop loss should be placed above the 0.786 Fib for protection. Head and Shoulders Projection: Using the bar pattern and the length of the left shoulder, we estimate that wave C will form over the next 2-3 days, confirming the head and shoulders setup. Take Profit Target: Low at $2.3266 – First target for securing profits. Overall Target: The 0.618 Fib retracement of the entire 5-wave structure at $2.1002. Risk-Reward (R:R): Potential for 3:1 and 5:1 trades, offering a gain of 20% - 30%. Additional Notes: If dOpen is lost with volume confirmation, this provides an opportunity to add to the short position. With the holiday season approaching, this short setup allows for some time off the screen while still capitalizing on market movements. This setup offers an excellent blend of risk and reward, with options for both aggressive and conservative short entries. Happy trading.