NZDCHF: Bearish Forecast & Outlook
It is essential that we apply multitimeframe technical analysis and there is no better example of why that is the case than the current NZDCHF chart which, if analyzed properly, clearly points in the downward direction.
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Forecast
US100 Will Go Up From Support! Buy!
Here is our detailed technical review for US100.
Time Frame: 5h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 20,844.8.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 21,155.0 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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ETHUSD Will Go Higher! Long!
Take a look at our analysis for ETHUSD.
Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 3,584.8.
The above observations make me that the market will inevitably achieve 3,836,4 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.
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EURUSD Will Go Up! Buy!
Please, check our technical outlook for EURUSD.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 1.057.
Taking into consideration the structure & trend analysis, I believe that the market will reach 1.069 level soon.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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AUDUSD Will Move Lower! Short!
Here is our detailed technical review for AUDUSD.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 0.651.
Considering the today's price action, probabilities will be high to see a movement to 0.645.
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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EUR/JPY BUYERS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
EUR/JPY pair is trading in a local downtrend which we know by looking at the previous 1W candle which is red. On the 9H 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 161.123 area.
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USD/CHF BULLISH BIAS RIGHT NOW| LONG
Hello, Friends!
We are targeting the 0.884 level area with our long trade on USD/CHF which is based on the fact that the pair is oversold on the BB band scale and is also approaching a support line below thus going us a good entry option.
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AUD/USD BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
AUD/USD is making a bullish rebound on the 6H TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 0.644 level.
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DXY Is Bearish! Sell!
Take a look at our analysis for DXY.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 106.269.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 104.187 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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GOLD Is Very Bearish! Short!
Please, check our technical outlook for GOLD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 2,647.747.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 2,604.970 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.
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NZDCHF Is Going Down! Sell!
Here is our detailed technical review for NZDCHF.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 0.520.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 0.519 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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GBPAUD Will Fall! Short!
Take a look at our analysis for GBPAUD.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 1.948.
The above observations make me that the market will inevitably achieve 1.937 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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EURUSD Will Go Up! Long!
Take a look at our analysis for EURUSD.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 1.048.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.053 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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GOLD BEARS ARE STRONG HERE|SHORT
Hello, Friends!
It makes sense for us to go short on GOLD right now from the resistance line above with the target of 2,616.113 because of the confluence of the two strong factors which are the general downtrend on the previous 1W candle and the overbought situation on the lower TF determined by it’s proximity to the upper BB band.
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NZD/USD SHORT FROM RESISTANCE
Hello, Friends!
Bearish trend on NZD/USD, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 0.579.
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USD/CAD BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
USD-CAD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 1.379 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the USD/CAD pair.
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GBP/USD SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
GBP/USD pair is in the downtrend because previous week’s candle is red, while the price is clearly rising on the 5H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 1.246 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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NZDUSD: Bears Will Push
Remember that we can not, and should not impose our will on the market but rather listen to its whims and make profit by following it. And thus shall be done today on the NZDUSD pair which is likely to be pushed down by the bears so we will sell!
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GOLD: Expecting Bearish Movement! Here is Why:
Balance of buyers and sellers on the GOLD pair, that is best felt when all the timeframes are analyzed properly is shifting in favor of the sellers, therefore is it only natural that we go short on the pair.
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NAS100USD Will Go Lower From Resistance! Sell!
Please, check our technical outlook for NAS100USD.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 20,946.7.
Taking into consideration the structure & trend analysis, I believe that the market will reach 20,451.1 level soon.
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.
Like and subscribe and comment my ideas if you enjoy them!