NZDUSD Is Going Down! Short!
Here is our detailed technical review for NZDUSD.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 0.610.
Considering the today's price action, probabilities will be high to see a movement to 0.605.
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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SELL
SPY BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
We are going short on the SPY with the target of 545.10 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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ETHUSDT : SELL or BUY ? The ETH/USDT chart reveals a clear long-term downtrend, with prices steadily moving within a descending channel. Here's a more detailed analysis and a trading strategy based on the current market setup:
Analysis:
Downtrend: Ethereum has been consistently forming lower highs and lower lows, indicating a strong bearish momentum.
Key Resistance: The price is approaching a crucial resistance level around 2,670 USDT, marked by the upper boundary of the descending channel. This area is likely to act as a significant barrier.
Projection: Given the overall bearish structure, it’s highly probable that the price will meet resistance at this level and resume its downward trajectory towards the lower boundary of the channel.
Trading Strategy:
Entry: Consider entering a short position as the price nears the resistance at 2,670 USDT. This area presents a strong opportunity to capitalize on the continuation of the bearish trend.
Take Profit: Target profit levels around 2,300 USDT, or potentially lower, towards 2,100 USDT, where the channel's support lies.
Stop Loss: A tight stop loss should be placed just above the resistance zone, around 2,700 USDT, in case the price unexpectedly breaks out to the upside.
Final Thoughts:
The market sentiment remains bearish for Ethereum, and this setup offers a compelling opportunity to ride the downtrend. As always, caution is key, but the technical signals here suggest that the bears are still in control, and this resistance could be a prime entry point for those looking to short ETH
BTCUSDT Trading Strategy Today. The 4-hour BTC/USDT chart shows a breakout from the downtrend, signaling a strong bullish trend.
Trading Strategy:
Entry: Buy when the price pulls back to the support area around 62,000 USDT.
Take Profit: Target 64,000 USDT or higher at 66,000 USDT.
Stop Loss: Set at 61,000 USDT.
The price may experience a slight pullback before continuing the upward momentum, so it's essential to monitor closely for the best entry.
USOIL BEARS ARE STRONG HERE|SHORT
Hello, Friends!
It makes sense for us to go short on USOIL right now from the resistance line above with the target of 71.99 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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GBP/JPY BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
GBP/JPY is trending down which is clear from the red colour of the previous weekly candle. However, the price has locally surged into the overbought territory. Which can be told from its proximity to the BB upper band. Which presents a great trend following opportunity for a short trade from the resistance line above towards the demand level of 182.685.
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Gold prices unexpectedly increased at the end of the sessionWith positive signals from the breakout of the downtrend channel and the support of the EMAs, gold (XAUUSD) is showing a great opportunity for investors. If the price continues to hold above the $2,636 zone and breaks out above the $2,665 level, we can expect a strong rally to $2,680 and beyond.
Trading recommendation: Investors can consider buying orders when the price remains above the $2,636 support zone, with profit targets at $2,665 and $2,680.
SPX Will Go Lower! Sell!
Take a look at our analysis for SPX.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 5,780.02.
The above observations make me that the market will inevitably achieve 5,678.77 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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ETHUSDT and long term profit strategy. Technical Overview:
Ascending Trendline Support: The chart shows a long-term upward trendline, suggesting a steady support level around the $2,000 - $2,200 area. This trendline has historically provided strong support for price rebounds.
Symmetrical Triangle Formation: ETHUSDT is currently consolidating within a symmetrical triangle pattern (highlighted in red), indicating indecision in the market. This pattern often leads to a breakout, with a likely strong price movement in either direction.
Potential Breakout: The breakout point appears to be nearing, with price action expected to either bounce from the lower trendline or break through the triangle’s upper boundary. A breakout above $2,532 could lead to a strong upward move toward the next key resistance around $2,817.
Bullish Scenario: If ETH breaks out to the upside, the next major target would be the $3,000+ region, indicated by the blue upward arrow. The current consolidation may be a period of accumulation before a bullish move.
Bearish Scenario: If the price breaks down from the triangle and the trendline, ETH could revisit the support around $2,000 or lower, but this scenario appears less likely based on current momentum.
Conclusion:
Ethereum is at a critical juncture, with the symmetrical triangle and long-term trendline suggesting a breakout is imminent. Traders should watch closely for a breakout signal, with a preference for the upside targeting the $3,000 level.
Latest SOLUSDT update todayAs the SOLUSDT pair continues its movement within a well-defined descending triangle pattern, traders are closely watching the price action unfold on the 4-hour chart. This bearish continuation pattern is gaining attention as the price forms a series of lower highs, with a consistent support level provided by an ascending trendline.
Key Resistance Zone Holds Firm
SOL’s price is currently trading near a key resistance zone, ranging from 142.54 to 144.48 USDT, which has acted as a barrier to upward momentum on multiple occasions. Despite attempts to break through, the market appears to be respecting this zone, further increasing the likelihood of continued downside pressure.
Bearish Outlook Strengthening
The descending triangle pattern typically signals a potential breakdown, especially as the price continues to be compressed within the narrowing range. If the price fails to push past the upper boundary of the triangle and encounters rejection within the resistance zone, it could lead to a strong bearish move.
A decisive break below the 137 USDT level, marking the lower boundary of the triangle, would confirm the breakdown. Should this occur, SOLUSDT may target the next major support level around 130 USDT, as the bearish sentiment dominates short-term market dynamics.
BITCOIN SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
BITCOIN pair is in the uptrend because previous week’s candle is green, while the price is obviously rising on the 30m timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 59,547 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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EUR/NZD BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
EUR/NZD pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 12H timeframe the pair is going up. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 1.771 area.
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EUR/JPY SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
We are going short on the EUR/JPY with the target of 162.473 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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EUR/CAD BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
EUR/CAD is making a bullish rebound on the 4H 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 1.497 level.
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XAUUSD: Regaining the psychological threshold of 2650Dear friends, XAUUSD continues to gain some recovery momentum as it has reclaimed 2600, but the main trend and the long-term trend are still moving sideways.
Currently, the price is approaching the psychological level of 2650 and at the same time is approaching the limits of the Bollinger Bands. A downside correction is expected when the pair reaches the level, the targets are the support levels of 2625 and 2605.
And you, how do you think XAUUSD will move on the last trading day of the week!
EURUSD: Prolonged bearish momentum.The September Fed meeting minutes showed a dovish stance on monetary policy, pushing the USD higher and forcing EUR/USD lower.
In response to the above information, the price slid to the support level of 1.0950 and the EMA 34 - 89 is maintaining a steady downtrend, indicating that the sellers are still dominant. That is why I set my target at the round level of 1.0800, which matches the lower boundary as indicated on the chart.
What do you think about this view?
DXY Is Very Bearish! Short!
Please, check our technical outlook for DXY.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 102.931.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 101.163 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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NZDCAD Will Go Lower From Resistance! Sell!
Please, check our technical outlook for NZDCAD.
Time Frame: 5h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 0.835.
Taking into consideration the structure & trend analysis, I believe that the market will reach 0.828 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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TIGR UP Fintech Holding Limited Options Ahead of EarningsIf you haven`t bought TIGR before the previous earnings:
Now analyzing the options chain and the chart patterns of TIGR UP Fintech Holding Limited prior to the earnings report this week,
I would consider purchasing the 4usd strike price Calls with
an expiration date of 2025-1-17,
for a premium of approximately $0.72.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
BIBI Bilibili Options Ahead of EarningsAnalyzing the options chain and the chart patterns of BIBI Bilibili prior to the earnings report this week,
I would consider purchasing the 15usd strike price Calls with
an expiration date of 2025-1-17,
for a premium of approximately $1.95.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
EURUSD Will Move Lower! Sell!
Please, check our technical outlook for EURUSD.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 1.096.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 1.092 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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UNFI United Natural Foods Options Ahead of EarningsAnalyzing the options chain and the chart patterns of UNFI United Natural Foods prior to the earnings report this week,
I would consider purchasing the 17usd strike price Calls with
an expiration date of 2024-10-18,
for a premium of approximately $1.25.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.