NZDCAD is preparing for a bullish market. Fibonacci acts as breakeven-point.
In the morning I saw the red candles and thought ok we broke out of the wedge, that means a longer term consollidation before the bullish breakout. But now the daily candle almost close and you see the buyers pushed the price back into the wedge pattern. So from a technical standpoint the wedge is still intact and that is super super bullish. The reason why that is a super bullish sign is that today the bears had a chance to break the wedge structure but there was not enough selling pressure to do that. A wedge pattern falling down like this almost always breakout to the upside. The wedge pattern is the right shoulder of a bigger inverse head and shoulders pattern, if you zoom out you can see it on the daily. So price is respecting the chart very good sign. Off course tomorrow they can try to drop the price again lower out of the wedge but I doubt it because you see the price is already bought up again. So fundamentally the only thing that we need is wednesday a positive FOMC meeting. And we go moon. I cannot see anything that is holding us back now.
we all know that after hours the masters report, so maybe they can turn bullish this
Isn't there a falling wedge pattern at ETH daily chart?
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This isn’t the best setup as I prefer entering at the low of the main range, however there is a range which has formed with fully mitigated supply areas which means it has a good chance of continuing the rally rather than filling the imbalance. What I do like about it is the larger pattern (not visible as this is zoomed in - but if you move around you’ll see it). So this implies strong moves to the upside are realistic.
The #QQQ remains in a clear uptrend; however, the weakness in the RSI, combined with the recent pullback, calls for increased #caution. While the $500 level serves as strong support, it is more likely that the correction will find its bottom around the $475 area.
As of XAUUSD we can clearly see that its having higher highs and higher lows meaning we still in a bullish trend
The US markets fell sharply today. The S&P500 lost almost 2%. Many investors, especially on social media, are wondering whether the “Trump Rally” is now over. I think this is extremely unlikely. As is so often the case, markets tend to exaggerate, both upwards and downwards. The price slide was triggered by news from China. Th AMEX:SPY ere, the start-up “DeepSeek” has announced that it has AI models that work just as well as their US counterparts at a much lower price and with less data. This will certainly not have a lasting impact, but it should make us aware that the AI party will be over at some point.
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