NIFTY INDEX SHARE MARKET Support: , 23,300, and 23,000 Resistance: 23,500 and 23,600
My OverView For GBP/USD , Must Support And Write Your Feedback In Comments Feel Free To Check It In My Analysis The GBP/USD pair is trading within a well-defined descending channel on the 4-hour chart, indicating a bearish trend. Dynamic resistance and support levels have consistently guided price action. Currently, the price is testing the lower boundary of the channel, marked as the "Kill Zone, " which aligns with strong support. This area presents a high-probability reversal zone, with potential for a bullish correction towards the dynamic resistance level. However, a breakdown below the channel's support could signal further downside momentum. Traders should watch for confirmation signals before entering trades. Key Levels: Resistance: 1.2550 - 1.2600 (dynamic resistance within the channel) Support: 1.2200 - 1.2250 (lower channel boundary and kill zone) Monitor price action and volume near these zones for clarity on the next move. Note: This analysis for educational purposes and not trading advice. Consider market conditions and strategies
WLD is showing strong bullish momentum and appears ready to pump. Keep a close eye on key support and resistance levels for potential breakout opportunities. Consider setting alerts to catch any significant price movement.
The DXY has created a double bottom forming a W patten, followed by creating a new Bull flag over the past 2 days. A break out of the bull flag could see a rally breaking high levels from 2022 at 110. If a rally to these levels does occur we will need to see bullish out announcements regarding the news over the weekend such as, Average Hourly Earnings m/m, Non-Farm Employment Change, Unemployment Rate, Prelim UoM Consumer Sentiment and Prelim UoM Inflation Expectations. I'd like to see a strong rally to end the week for the DXY, then monitor the news results over the weekend to form my Bias coming into next week on Monday.
Currently, GBP/AUD is pulling back from the upper boundary of its established trading range. Price is testing support near 1.96015, with a possible extension toward 1.93966 If it stabilizes around these levels, I expect a move back into the central zone of the range before the market decides on its next direction.
The trend of gold yesterday was no different from that of the previous few days. The only difference is that it is constantly breaking through the highs above. From the current point of view, the rise of gold has not ended. There is no news data on Thursday. The main focus can be on today's NFP. The overnight retracement low of gold near NFP is 2650, which is a strong support. It is still bullish if it holds! Gold has remained strong since closing at the 2670 mark. The daily line maintains a bullish structure intact! The MA10/7-day moving average opened up to 43/56, and the New York closing price stood above the 60-day moving average. The hourly and four-hour charts Bollinger bands opened upward and the price was running in the middle and upper track. Gold has repeatedly risen and fallen. At present, the trend of the market has been maintaining a steady upward trend. The lows are constantly rising, and the highs are constantly breaking upward. It is expected that today's Asian session will continue to maintain this upward pattern, and the future operation will continue to be mainly low-long! Today is Friday and NFP day. I believe everyone is familiar with the recent NFP market trends. Most of them are just widening the amplitude of fluctuations. The 1-hour moving average continues to diverge upward. Gold bulls still have room to move upward. Gold fell back yesterday and got the first-line support of 2660 without breaking. Then gold will continue to buy on dips at 2660 in the Asian session. The bullish trend will continue. Go with the trend. First support: 2663, second support: 2650, third support: 2668 First resistance: 2680, second resistance: 2691, third resistance: 2700 Operation ideas: BUY: 2659-2661 SELL: 2688-2690
Here is nifty is breaking a long standing channel, with a bear move expectation if today's close is below the previous support. Coupled with muted earnings and low FII interest in the market
Looking over the past 15 Non-Farm Payrolls, this one is shaping up to be a stop hunt wicks on both sides. I am not interested in getting chopped up and whipped back and forth. I will sit this one out. To me, it is most likely looking the most like January 2024. https://www.tradingview.com/x/ZBzaHei2/ My whole point is, I don't know how far it will wick on both sides. https://www.tradingview.com/x/RzGLjViv/
Gold (XAU/USD) is currently trading around $2,670 per ounce, approaching its all-time high of $2,726. Analysts, including those from Goldman Sachs, forecast that gold prices could reach $2,700 by early 2025, driven by factors such as anticipated U.S. interest rate cuts and increased central bank purchases. Given this context, an upward target of $2,680 appears attainable in the near term.
Head & Shoulder (H&S) pattern in the Bank Nifty Index on a daily timeframe. The H&S pattern is a reversal chart pattern indicating a potential bearish trend after an uptrend. Here's the detailed explanation: 1. Key Components of the Pattern: Left Shoulder: The first peak, formed after an uptrend, followed by a decline to the neckline (support). Head: The highest peak, formed after the left shoulder, followed by a decline back to the neckline. Right Shoulder: A peak lower than the head, formed after the neckline is tested again, signaling weakening upward momentum. 2. Neckline: The neckline acts as a support level that connects the lows between the left shoulder, head, and right shoulder. In this chart, the neckline is marked as a critical support level. 3. Entry and Targets: Entry Point: A short position is triggered once the price breaks below the neckline with strong bearish confirmation. Projected Targets: Target 1: 48,050 Target 2: 46,550 Final Target: 45,000 These targets are derived by projecting the height of the head from the neckline downward. 4. Stop Loss: The Stop Loss is placed above the recent high near 51,050, to minimize risk if the price reverses upward. Conclusion: The Bank Nifty chart demonstrates a classic Head & Shoulder pattern, indicating potential downside targets with well-defined entry, stop loss, and profit-taking levels. This pattern suggests caution for bullish traders and an opportunity for bearish traders if confirmed.