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EURUSD: Neutral ready to breakout either way.EURUSD remains marginally neutral on its 1D technical outlook (RSI = 55.284, MACD = 0.003, ADX = 28.089) as it remains supported on the 4H MA50. At the same time it is bearish below the R1 level, which forms so far a Double Top. If the price crosses above it, we will turn bullish aiming at the 1.5 Fibonacci extension (TP = 1.13000). If the price crosses under the 4H MA200, we will turn bearish aiming at the S1 level (TP = 1.10000). The 1D RSI is crossing under its MA trendline, which suggests that a bearish move is more likely, similar to every time this took place since June. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
“Cryptocurrencies on the Move”The U.S. Securities and Exchange Commission has approved the listing and trading of options for BlackRock's IBIT. Bitcoin options trading on IBIT is expected to comply with BlackRock's standards. Following this development, the rise in cryptocurrencies has accelerated, with Bitcoin maintaining its push towards the 65,000 level. Tecnically, if it surpasses the 65,000 resistance level, the 68,500 and then 71,675 resistance levels could be tested. On the downside, if Bitcoin breaks below the 63,300 level, a further decline toward the 60,000 and then 57,330 support levels could occur.
BITSTAMP:BTCUSD
by primequotes
“The Eurozone manufacturing PMI is weak”Following the interest rate decisions by the ECB and the Fed, the EUR/USD pair has risen to the 1.12 level. Meanwhile, the dollar index is recovering its losses post-Fed, which is limiting further gains in the EUR/USD pair. Today, the manufacturing PMI figures released for the Eurozone and Germany came in below expectations. This increased the pressure on the euro currency. From a technical perspective, if the upward trend continues and the 1.1115 resistance is broken, the next resistance levels to watch are 1.12 and 1.1275. On the downside, if pricing drops below the 1.1045 level, 1.0970 and 1.09 could act as important support levels for further declines.
by primequotes
USD/CAD Short, NATGAS/USD Short and GBP/NZD LongUSD/CAD Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of value. • If tight 5 min continuation follows, reduced risk entry on the break of it. • If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it. NATGAS/USD Short Minimum entry requirements: • 1H impulse down below area of value. • If tight 5 min continuation follows, reduced risk entry on the break of it. • If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it. GBP/NZD Long Minimum entry requirements: • 1H impulse up above area of value. • If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it.
by StewySongs
XAUUSDHello Traders! What are your thoughts on GOLD ? Gold has maintained its upward momentum in recent weeks, and it is expected to continue this week after some fluctuations and price corrections from the identified levels. If you are looking for a safer entry with less risk, it's advisable to wait for the price to reach the second support level, which provides a more reliable buying opportunity. If you found this analysis helpful, don’t forget to like and share your thoughts in the comments! ❤️
OANDA:XAUUSDLong
by HAMED_AZ
4
“Bitcoin is rising."Cryptocurrency markets are going through a dynamic period with significant developments. In Germany, 47 cryptocurrency exchanges were shut down by the Federal Criminal Police Office and the Internet Crime Complaint Center as part of efforts to combat money laundering activities. However, following the Fed's decision to cut interest rates by 50 basis points, there is a decline in dollar-denominated assets. This situation is supporting upward movements in Bitcoin. From a technical perspective, if it surpasses the 63,300 resistance level, the 65,000 and then 68,500 resistance levels could be tested. On the downside, if Bitcoin breaks below the 60,000 level, a further decline toward the 57,330 and then 54,000 support levels could occur.
BITSTAMP:BTCUSD
by primequotes
“USDZAR on a Downward Trend”The South African Reserve Bank has reduced the policy interest rate to 8.00%. Following this move, the reversals at the 17.40 level in the USDZAR pair have drawn attention. The Fed had unexpectedly cut rates by 50 basis points at its September meeting. This situation has led to significant losses in dollar assets, while we can observe that any increases in the USDZAR pair remain limited. From a technical perspective, if the exchange rate surpasses the 17.70 level, rises may initially extend to 17.95 and then to the 18.20 resistance level. On the downside, if the 17.40 level is breached, we could see a decline to 17.15 and then to the 16.90 support level.
by primequotes
“Can USD/JPY Surpass the 144.0 Level?”The Bank of Japan (BoJ) kept its policy interest rate unchanged, holding it steady at 0.25%. The bank noted that Japan's economic recovery is continuing, and inflationary pressures have eased due to a decline in import prices. According to data released today, Japan's Consumer Price Index (CPI) for August increased by 3% year-over-year, in line with expectations. As a result, the USD/JPY pair has gained momentum, rising from the 140.85 level. From a technical perspective, if the 144.10 level is surpassed, the pair may test the 147.30 resistance first, followed by 149.55. On the downside, if it falls below the 140.85 support level, a drop toward 138.0 and then 135.15 could occur.
by primequotes
“The pound gained strength”The Bank of England (BoE) maintained its policy interest rate at 5.00%, with no changes. BoE Governor Andrew Bailey stated that since they lowered the policy rate in August, inflationary pressures have continued to ease. Bailey also emphasized the importance of avoiding rate cuts that are too quick or too large. Following this development, the GBP/USD pair rose above the 1.33 level. From a technical perspective, if the 1.3355 level is permanently surpassed, the rise could accelerate toward 1.3430, followed by the 1.35 resistance level. On the downside, if prices fall below the 1.3270 level, the decline could extend first to 1.3150 and then further to the 1.3030 support level.
by primequotes
DXY: Some more downside is expected. Is it a buy after?The U.S. Dollar Index is on strong bearish levels on the 1D technical outlook (RSI = 36.538, MACD = -0.480, ADX = 39.006) as it is extending the Channel Down with a rejection today exactly on its top. The very same Channel Down was seen last October-December (2023) and declined by -6.25% before recovering. The buy signal was a DB (double bottom) on the 1D RSI. Consequently we will remain bearish on DXY (TP = 99.550) and only buy after we get a clear rebound (around -6.25%) and a DB on the RSI. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:DXYShort
by InvestingScope