US30USD Will Go Higher From Support! Long!
Here is our detailed technical review for US30USD.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 42,119.2.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 42,845.4 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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USOIL Will Go Higher! Buy!
Please, check our technical outlook for USOIL.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 71.62.
Taking into consideration the structure & trend analysis, I believe that the market will reach 73.20 level soon.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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NZDJPY Will Move Higher! Long!
Take a look at our analysis for NZDJPY.
Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 90.965.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 92.269 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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Gold Near Key Breakout Level at 2,758Gold is in an exciting phase, maintaining its upward trend above crucial EMA levels, signaling that the long-term momentum remains strong.
The resistance level at 2,758.717 is acting as a challenging ‘wall’—can gold break through to initiate a powerful rally? If successful, this could be a golden opportunity for investors to catch the next wave of growth.
However, if gold fails to breach this ‘wall’ and reverses, the support level at 2,716.756 and the trendline will serve as a solid ‘fortress,’ where prices may rebound.
Don’t miss out—sometimes, a little alertness is all it takes to capture the trend and turn volatility into profit!
News update: On October 25, gold saw some profit-taking as both the U.S. presidential election and Middle East tensions provided support for its price.
XAUUSD Faces Downside Risk as Head and Shoulders Pattern BeginsIn my view, a head and shoulders pattern may be forming on the chart with:
The left shoulder is at the top near $2,755, reflecting initial buying pressure.
The head peak is prominent at $2,740, indicating strong but waning buying pressure.
The right shoulder is forming with a peak close to the right shoulder at $2,755.
If the price breaks below the neckline around $2,721, the pattern will be complete. This could lead to a deeper decline, signaling an approaching downtrend. I will monitor further for confirmation.
SPX500USD Is Bullish! Buy!
Please, check our technical outlook for SPX500USD.
Time Frame: 8h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 5,836.4.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 5,891.1 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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GBPUSD Will Grow! Buy!
Please, check our technical outlook for GBPUSD.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 1.298.
Taking into consideration the structure & trend analysis, I believe that the market will reach 1.306 level soon.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
AUD/USD SENDS CLEAR BULLISH SIGNALS|LONG
Hello, Friends!
AUD/USD pair is trading in a local downtrend which we know by looking at the previous 1W candle which is red. On the 17H timeframe the pair is going down too. The pair is oversold because the price is close to the lower band of the BB indicator. So we are looking to buy the pair with the lower BB line acting as support. The next target is 0.674 area.
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NZD/USD BULLS ARE GAINING STRENGTH|LONG
Hello, Friends!
We are going long on the NZD/USD with the target of 0.610 level, because the pair is oversold and will soon hit the support line below. We deduced the oversold condition from the price being near to the lower BB band. However, we should use low risk here because the 1W TF is red and gives us a counter-signal.
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USD/CAD BULLISH BIAS RIGHT NOW| LONG
Hello, Friends!
It makes sense for us to go long on USD/CAD right now from the support line below with the target of 1.384 because of the confluence of the two strong factors which are the general uptrend on the previous 1W candle and the oversold situation on the lower TF determined by it’s proximity to the lower BB band.
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XAUUSD Adjusts But Maintains UptrendThe XAUUSD chart shows that the price is adjusting after hitting the resistance level of 2,758 USD, but the uptrend remains dominant.
The key support zone is around 2,712 USD, where the price has bounced back in previous corrections.
The EMA(34) and EMA(89) continue to provide important technical support, with the short-term EMA above the long-term EMA, reinforcing the uptrend. Despite selling pressure, buying interest is still protecting this support level.
If this support holds, the price may recover and retest the resistance level.
Concerns over the U.S. elections and expectations of rising interest rates supporting the dollar could put pressure on gold.
Gold prices are on an upward trend this week!Dear traders, Conan here!
Today, gold is in a strong uptrend after all the attempts of the bears failed to reclaim the $2600 level, the price has started to increase and is currently at $2650. The increase is mainly due to the 80% chance that the Fed will tend to cut interest rates by 25 basis points in November, while there is a 20% chance that interest rates will remain unchanged. Lowering interest rates can reduce the opportunity cost of holding gold, thus supporting the price of gold.
With positive signs from the fundamental news and in addition, gold is still reacting around the 34 EMA and the technical uptrend has not been broken when looking closely as on the 1-hour chart, we can fully expect the uptrend to remain completely dominant. Due to these factors, in Conan's personal opinion, gold prices are expected to remain attractive in the near term, with the possibility of rising to $2750. What do you think about this view?
EUR/USD: Selling pressure takes control!Hello all traders!
Overall, a lackluster start to the week saw the EUR/USD pair extend its decline, falling below the 1.0900 mark and recording a fresh two-month low near the key 34-day Simple Moving Average (EMA).
As such, the US Dollar (USD) continued its rally, pushing the US Dollar Index (DXY) to a fresh multi-week high above 103.00 on persistently high risk sentiment and rising geopolitical tensions in the Middle East. That said, the selling pressure on EUR/USD is not over until the price retests the trendline and the 1.0800 support zone.
USOIL Will Go Up From Support! Long!
Take a look at our analysis for USOIL.
Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 71.32.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 75.37 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
Like and subscribe and comment my ideas if you enjoy them!
AUDUSD Will Go Up! Buy!
Here is our detailed technical review for AUDUSD.
Time Frame: 5h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 0.665.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 0.672 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
USD/JPY BULLS ARE STRONG HERE|LONG
Hello, Friends!
USD/JPY is trending up which is clear from the green colour of the previous weekly candle. However, the price has locally plunged into the oversold territory. Which can be told from its proximity to the BB lower band. Which presents a great trend following opportunity for a long trade from the support line below towards the supply level of 153.103.
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XAUUSD Adjusts With Key Support at 2,722XAUUSD is currently in a correction phase after reaching a peak of 2,758.007.
At present, the price is likely to test the critical support around 2,722, supported by the EMA 34 and EMA 89, indicating that the uptrend could remain intact if the price holds above this level.
If the price does not break this support, it is highly likely to rebound towards the resistance at 2,758.007. The RSI, currently at 57.40, suggests the market is in a neutral zone with no signs of being overbought or oversold.
In recent news, gold prices dropped over 1% after reaching the peak on October 23rd due to a stronger USD and rising US bond yields, despite safe-haven demand driven by the upcoming US presidential election and the Middle East situation.
Gold Price Fluctuates Strongly As USD IncreasesBased on the chart and information you provided, gold prices are under downward pressure due to the continued rise in the USD and the US bond yield rising to 4.25%, which has limited the flow of investment capital into the precious metal. On the chart, after hitting the resistance level around $2,757, gold prices reversed and fell below $2,720.
Currently, gold prices are likely to continue to correct to the support zone around $2,700. If this support zone fails to hold, the price is likely to continue to fall further. However, if the price holds above the support level, there may be a recovery and retest the resistance zone of $2,750-2,760.
USD/JPY Strengthens Due to High U.S. Bond YieldsThe technical analysis of USD/JPY on October 23 shows a strong upward trend. Currently, the pair is trading around 152.692 after breaking the 150.489 support level, paving the way for a potential rise to 155.
The EMA 34 and 89 lines provide solid support, while the MACD indicator suggests strong upward momentum. A short-term correction may occur before further gains.
On the news front, USD/JPY is boosted by high U.S. bond yields and expectations that the Fed will maintain stable rates, while the Bank of Japan continues its loose monetary policy.