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GOLD → Active strengthening, retest of a previously broken lineOANDA:XAUUSD has been strengthening during the last two weeks. The signal for this was a false break of support 1907, formed back in March 2022. The price is approaching strong resistance and its growth is starting to slow down. What's next? Gold is strengthening towards the 1963-1965 area, with a key resistance line close by, which is the previously broken trend support. On Friday, gold draws a false break of one of the local resistances and forms a bearish candle. The session in the first half of the week could be bearish, but for now there are signs that the upside will continue. Although the Fed is still aggressive, but their policy is not considered as tough as before among traders, speculators and investors. The dollar has weakened quite a bit and continues to fall. The index has broken through a key support area and has entered a range within which it could fall to 95 and even 90, which would be a strong enough momentum for gold to strengthen further to 2000, 2050 and even 2100. There are several important news releases this week and it is worth paying attention to expectations and the general fundamental background before they are released, as harsh statements can have a strong impact on the price. From a technical analysis point of view, a strong resistance may be followed by a technical pullback before a further rise. Globally, the situation is neutral and looks even more bearish than bullish, but against the backdrop of the dollar may draw some conclusions. Regards R. Linda!
OANDA:XAUUSD
by RLinda
15
BTCUSD → Pre-break consolidation and flat at resistance BITSTAMP:BTCUSD continues to forge an uptrend and also gives us preconditions that the growth will continue. The price is forming consolidation before the breakout and is confidently forming another bullish wave On the chart we see an ascending triangle, the key resistance area that holds the price is the area of 31500. The price continues to ford retests against resistance and forms a pre-breakout consolidation. Within the flat 31500 - 29700, a retest of 0.382 fibo and a false breakdown may be formed, which will increase liquidity for the continuation of growth. Another rally has moved into the consolidation phase and we have to wait for the preconditions that the price will be ready to come out of this consolidation again. Locally there are no key patterns, we should pay attention to narrow consolidations near resistance or a breakout followed by price consolidation above or below the level. Moving averages in the role of support indicate a strong trend Resistance levels: 31500 Support levels: 30000, 29700 I expect the consolidation to continue with the subsequent price squeezing to the resistance. A sharp retest will lead to the fact that the resistance may be broken. Medium-term outlook 32196-34000. Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
32
DOGEUSDT → Consolidation moves into the distribution phase BINANCE:DOGEUSDT is forming a consolidation in the format of a wedge. Within the consolidation, the price makes a false breakdown of support and thus feels the bottom of the market. The price is forming a rather long descending wedge. The pattern is a bullish possibility to turn the market. After a false breakdown of the support, consolidation is formed above 0.0705, which successfully breaks the resistance of the wedge. The phase of consolidation on the market is smoothly passing into the phase of distribution (realization of accumulated potential) The main task of the bulls is to hold the support area at 0.0705 by all means. If the position is successful, the price will go up. The medium-term potential in our case is the resistance at 0.09460. Support levels: 0.0705, 0.0639 Resistance levels: MA200, 0.0817, 0.0946 I expect consolidation above this support with the subsequent formation of a medium-term impulse towards our targets. Regards R. Linda!
Long
by RLinda
31
🥇GOLD - The double top may start a correction Gold breaks the global bearish trend and forms momentum, but price fails to reach key zones and starts to form a reversal set-up. TA on the high timeframe: 1) The key liquidity area that is of interest to many is in the 1970-1980 area 2) A correction is being formed and most likely the growth to liquidity will continue after it TA on the low timeframe: 1) A double top is forming, a break of 1955 support will form an impulse to 0.236 or 0.382 fibo 2) The trend is upward, this pattern does not give hope for a trend change. 3) The decline will allow us to find more convenient support levels to buy at a favorable price. Key support📉: 1955 Key resistance📈: 1963
OANDA:XAUUSDShort
by AndeWave
18
💱USDCAD - False breakdown and flat formation is possibleUSDCAD formed a head and shoulders after a false breakdown of key resistance. It was at this point that the dollar began to weaken and led the currency pair to test the local bottom at 1.30900 TA on the high timeframe: 1) A false break of resistance sends the price to support at 1.3138 2) Since the forex market is flat more than 70% of the time, the price is likely to form a false break of support and start to strengthen TA on the low timeframe: 1) A false breakout is forming against the local support at 1.31179. A rebound to the resistance is possible 2) Fibo levels can also serve as a magnet for correction. 3) There are high chances of flat formation, the price may form a rebound before further fall. Key support📉: 1.31179 Key resistance📈: 1.31776
Long
by AndeWave
8
GOLD → Waiting for correction after false breakout OANDA:XAUUSD is breaking uptrend resistance, which confirms a definitive trend change amid a weakening dollar. But what happens at the level of 1960? The mentioned level forms a prolonged consolidation. The market is trying to make up its mind after the rally, but it is necessary for the market to form a correction or consolidation in a more neutral zone, for example between 1960 and 1940. If the price forms a correction after the rally and a false break of resistance, it will form a flat with approximate boundaries: 1960 - 1940. The correction may start when the local support 1955.5 is broken, in this case the price will head to the upper boundary of the channel or to the level of 1940. A correction after a rally is a predictable reaction in the gold market. In the next few hours the breakout of 1960 is not worth waiting for, the price needs to replenish liquidity. A retest of MA50 is forming, if the support is broken, the price will give an impulse downward. Support levels: MA-50, 1955, 5 Resistance levels: 1960 I expect correction before further growth. The price is not ready to break the resistance of 1960, before that it is necessary to test the moving average. Regards R. Linda!
OANDA:XAUUSD
by RLinda
19
GOLD → Resistance breakout is directed towards a trend changeOANDA:XAUUSD is finally confirming a trend change. The price passes through a key liquidity area and forms a strong momentum. What's happening? Pay attention to the D1 chart below. The price is breaking the trend resistance. A rather interesting picture is developing in which gold is gaining upside potential towards 2000. The price is testing the resistance at 1959. Probably, the price can form a correction to the previously broken boundary and the chance for this is quite high. But with a strong consolidation of the price above the level of 1959, a bullish impulse to 1970 or even to 1981 will be formed. The Fed is talking about rate hikes and aggressive policy, but at the same time inflation is showing a green signal and is starting to weaken from 4% to 3%. Investors and analysts are not expecting a long-term complication of the situation, the dollar is likely to continue to weaken. The moving averages show a strong support area. There is strong resistance at 1967 ahead. It is worth paying attention to it. Resistance levels: 1959, 1970, 1981 Support levels: 1955, 1945, previously broken channel boundary. I expect consolidation relative to 1959. The market needs to decide on the potential. A correction is possible from the level, but if the bulls hold the area of the key level, the growth will continue. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
25
GOLD → Difficult situation: price drop or breakthrough? OANDA:XAUUSD is forming a local ascending channel, at the moment it is too early to talk about global strengthening and change of the global channel, as it needs good reasons for that. What is happening? The dollar index is breaking the support and testing the next one. The dollar may strengthen a bit, which will provoke the gold to fall, but apparently the dollar is in a different mood and the price may break 101 and go lower. In this case we will have to watch the 1933-1939 area on the gold chart. A breakout of 1933 and consolidation (or pattern) relative to the level may form a sell signal and the price will show us a fall. Or another scenario may develop on the chart. In this case, if a bounce from 1933 is formed, we will wait for consolidation near 1938-1939 and an attempt to break the resistance. A breakout of 1938-1939 resistance will form an attempt to change the global trend and in this case, against the backdrop of the falling dollar, gold may quite confidently change the global trend and the price will begin its strengthening towards 1950-2000. Support levels: 1933, MA-50 Resistance levels: 1938-1939, channel resistance I expect that gold is now in a difficult situation, while the Fed is aggressively pursuing its policy, the dollar is still weakening. There may be an increase in volatility, keep an eye on these levels. Good luck in trading! Regards R. Linda!
OANDA:XAUUSD
by RLinda
24
NZDUSD → A break of the triangle resistance will form an impulseFX:NZDUSD is forming an attempt to change the downtrend on the background of weakening of the dollar. A resistance retest is being formed. What to expect from the price further? The price left the channel last week, all this time a consolidation in the format of an ascending triangle is being formed. The price continues to test the triangle resistance and 0.62359 for a breakout as we see a weakening dollar, consolidation after the resistance breakout and several other indications that the price is preparing to continue rising. A false break of resistance could form a pullback to nearby support, but based on the potential, price could continue to head towards resistance. Support levels: 0.61911 Resistance levels: 0.62200, 0.62359 I expect a pullback from resistance and another retest on the background of an attempt to change the trend. If resistance is broken, our target will be 0.63000 and 0.63810. Regards R. Linda!
Long
by RLinda
10
GOLD → A retest of resistance could turn into a breakoutOANDA:XAUUSD is strengthening within a bullish counter-trend correction. The price is testing a strong resistance area, but at the same time there are signals that may allow the price to break the resistance. On the daily timeframe we observe interesting things: the correctional wave reaches the level of 0.618 fibo of the third wave and also tests the area of 0.382 fibo of the global movement. Most likely, a rather strong rebound may follow from this area. Earlier we observed a breakout of the global trend support. At the moment the price is forming counter-trend correction to the level of 1939, which plays a key role. If this resistance is broken, the price may strengthen to the previously broken line or to the area of 0.382 Fibo (1967). The situation on the market may change dramatically when the resistance of the upward correction is broken. We are watching the price reaction to the mentioned area. Resistance levels: 0.5 fibo, 1938, channel resistance Support levels: 1924, 1920, 1912 I expect the price to test the breakout of the channel resistance. At the moment bears are still strong and they can push the price down, but with the breakout and consolidation of the price above the level there will be a chance to see a strong impulse to 1959. Regards R. Linda!
OANDA:XAUUSD
by RLinda
19
MATICUSDT → Breakout figure and an attempt to change the trend BINANCE:MATICUSDT breaks through the resistance of the key figure and opens a new bullish potential. If the nearest resistance is broken through, the price can form a strong momentum. Earlier we saw an attempt of strengthening, which smoothly changed from an ascending price channel to a bearish wedge. The latter figure is quite capable of breaking the trend and changing it, for this in our case, the price needs to pass through the resistance of 0.7440. Recently cryptocurrencies, both bitcoins and altcoins, start to recover, and there are even some fundamental reasons for that. The moving averages act as resistance, but at the moment the MA-50 is being tested and in case of a breakout the 31% range will open, which is quite an interesting prospect for us. Support levels: 0.6500 Resistance levels: MA-50, 0.7440 I expect consolidation near resistance, followed by a breakout and bullish momentum. The medium-term target is 0.9700. Regards, R. Linda!
MLong
by RLinda
14
🥇GOLD - A retest of the resistance zone may lead to a fall Gold is making a false breakout of resistance and testing local support while the dollar is losing ground and testing areas of liquidity TA on the high timeframe: 1) an attempt to break the resistance of the global channel is formed 2) The resistance of 1938 plays a key role 3) Flat is possible, but the medium-term outlook looks bearish 4) The dollar index is testing support and a quick rebound is possible, in which case gold will start to fall. TA on the low timeframe: 1) Price is sandwiched between 1932 and 1922, a retest of resistance could form a consolidation and an entry point to sell. 2) If the dollar starts to rise the gold price will fall 3) Since we have a bearish trend and the price is inside the range, we have a chance to see a fall from resistance Key support📉: 1922 Key resistance📈: 1932, 1935
OANDA:XAUUSDShort
by AndeWave
22
💱EURCAD - Waiting for a false breakthrough EURCAD is breaking the channel resistance, but there is no the reaction that everyone is waiting for. A bottom has formed on d1 and a counter-trend movement is starting to form. TA on the high timeframe: 1) Price breaks the resistance at 1.45120, but there is no impulse, which should happen when breaking the resistance 2) The same flat is formed. The price may return to it when falling below 1.45120. TA on the low timeframe: 1) Price breaks the resistance of the local bullish channel, there is no impulse and a strong consolidation is formed above the resistance. If price goes down and passes 1.45430, forms consolidation below the level, correction to 1.44250 will begin 2) Actual resistance retest may end up as a false breakdown. A change of trend is out of the question, a downward correction may be formed. 3) BUT! If 1.45630 is broken through and consolidation is formed above the level, the price will be able to continue rising to 1.46300. Key resistance📈: 1.45630 Key support📉: 1.45430
Short
by AndeWave
9
GOLD → The price is standing still. What's going on? OANDA:XAUUSD continues to stand still and form a consolidation within the 1938 - 1912 sideways range. The rebound to resistance is likely to continue in the format of a bounce to support. On the daily and weekly chart there is a consolidation in the red zone, after the breakdown of the key support levels. Most likely an energy buildup is forming before the rally in one direction or the other. In order for the counter-trend correction to be recognized as a trend change, the price has to break the resistance 1935-1939. In this case the market will start to form a strengthening of the price and a bullish trend will start to form. At the moment within the counter-trend correction you should wait for the decline from the resistance 1933, or the retest to 1920 (1912) with further breakout and decline to the global minimum. Support levels: 1920, 1212 Resistance levels: 1933, 1935, 1939 I expect a local rise followed by a fall - since that is how the price behaves inside the range. The Fed is still aggressive policy and most likely, the market has decided to rest a bit before the further movement. Regards R.Linda!
OANDA:XAUUSDShort
by RLinda
32
GBPUSD → What kind of reaction could there be to resistance? FX:GBPUSD continues to form an uptrend, but at the same time the price is hitting a strong resistance area. We are waiting for the price to react to the area, which will determine the further direction. A retest of the level 1.28484 will tell us that the market will prepare to strengthen after breaking through resistance, but a consolation below the level will signal further decline to 1.26900. In an uptrend, the price could test the resistance again in the near future. The dollar is in a range and a decline towards support will give the currency pair a jump to break through resistance. The pound might continue to strengthen in the mid-term based on a more positive fundamental background than the dollar. Support levels: 1.27267, 1.26800 Resistance levels: 1.28484 I expect an attempted retest to the resistance, which may give a further signal. It is necessary to monitor the price reaction to the upper limit of the range. It may be followed by a pullback before further growth. Regards R.Linda!
by RLinda
15
GOLD → Mid-term perspective OANDA:XAUUSD breaks the uptrend. A break of the support of the bullish price channel ends the impulse to 1893 and forms a smooth transition to the state of consolidation in the flat boundaries On Friday, the price makes a retest of the previously broken support level of 1935. Tandem of technical and candlestick analysis does not give the preconditions for a possible breakout of the resistance in the near future. In the first half of the week the price might again test the 1935-1939 area and make a false-break. The situation looks bearish at the moment, so my main priority is the downside of the price to 1907 with a new attempt to break-through this support. The moving averages are also pointing at the formation of a global flat. 1954-1870. The strong pressure from the sellers is likely to be still present in the market. The medium-term outlook points to a possible further decline. To make a bet on further growth from the technical analysis point of view, the price should break through the resistance area of 1935-1935, and then the momentum to 1960-1981 will be formed. There are some interesting news in the week ahead. The inflation in the west is still high and in that case the gold has negative fundamentals as the Fed continues to aggressively look at the rates. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
19
BTCUSD → FB before the breakout, waiting for the retest BITSTAMP:BTCUSD is testing strong resistance at 30575, but a false-break of the level tells us that the price is not ready to grow (at the moment). It might form a pullback or flat pattern below the level before rebounding further Globally, we have a bullish trend, the price is getting stronger. The rally is followed by a consolidation and a pullback, after which the cycle repeats again. The price is gradually renewing its highs. Fundamentals are getting stronger amid a surge of activity and some positive investor interest news. The moving averages on the D1 show us a bullish trend, the same is true for the weekly chart. The price forms a range after breaking through 25000. The range boundary is 30285 - 25000. I would not expect in the medium term a decline to 25000, most likely the price may form a consolidation between 30000-28500, after which the price will continue to form resistance retests for a breakout. Support levels: 29800, 28500 Resistance levels: 30575 I expect a consolidation or a technical pullback after a rally. Bitcoin is not highly susceptible to technical analysis, but it is excellent on fundamentals. Fundamental background is more inclined to a positive trend. In the medium term, I expect growth after the breakout of 30575. Sincerely R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
6
🥇GOLD - The flat continues. Price strengthens to resistance Gold is testing sideways range support and forming a rebound. The nearest level breaks and the price forms a momentum. TA on the high timeframe: 1) the bearish price channel is still relevant. Consolidation is forming after a false breakdown of resistance 2) The price is in a sideways range. On Friday, gold is likely to continue trading inside the TA on the low timeframe: 1) A touch of range support forms a rebound. The price is not ready to leave the flat yet 2) Market sentiment is bearish and there is no bullish news at the moment 3) The price may grow up to 1922 within the range Key support📉: 1910. Key resistance📈: 1922
OANDA:XAUUSD
by AndeWave
13
💱EURCHF - A triangle is formed. We wait for a bounceEURCHF continues to decline and forms a pattern. a break in the support of which will form the continuation of the trend. TA on a high timeframe: 1) A flat is forming. But, the price does not reach the resistance and continues to fall to the support. 2) The retest at 0.97505 might form a breakthrough, which will send the price to 0.97200. TA on the low timeframe: 1) Within the triangle, the price drops to 0.97375. A retest of the figure support and subsequent pullback is possible. At the moment the price continues to form a pattern 2) Within the figure we may buy from support and sell from resistance. 3) I expect strengthening of the price from the support area till the retest, then from the upper border we will consider short set-ups Key support📉: 0.97357 Key resistance📈: 0.97660
Long
by AndeWave
6
GOLD → The market is buyback the fall, but for how long? OANDA:XAUUSD makes a retest of local support at 1902, but amid a weaker dollar, the market buys out the drop. The price returns to the range. Global and local trend coincide and have a common downward direction. The price rebounds from 1902 on the background of the dollar weakening from the news on Thursday. It is too early to speak about the global change, because the Fed is still preparing to keep the rates at the same level or even to raise the rates, in which case the dollar will continue its strengthening because of the high inflation. The price comes back to the range and most likely it might strengthen to 1920. But in the medium term I see a continuation of the fall towards 1902 or 1893. Resistance levels: 1920, 1933 Support levels: 1912, 1902, 1893 The market is bearish and most likely, from one of the key resistance levels, the continuation of falling is expected on the background of negative fundamentals for gold. Regards R.Linda!
OANDA:XAUUSDShort
by RLinda
23
EURUSD → Fundamental and TA diverge. What's next? FX:EURUSD has been declining all week. The correction continues to the lower boundary of the uptrend, and after a false breakdown of support the market responds with a bullish reaction. The daily timeframe is turning a triple top, but everything is ambiguous. Price is in a global fleet. Within a local uptrend, a false break of channel support increases liquidity and the market builds bullish volumes, against the news this reaction may be temporary. If the wedge resistance is broken, a consolidation above the line can be formed, followed by an impulse towards the key resistance. The Fed is not going to give up and is increasingly saying that rates will either be kept or increased in the medium term, in which case the currency pair may show us a bearish mood. Support levels: 1.08485 Resistance levels: the upper boundary of the wedge, 1.0945, 1.1000 I expect an attempt to break through the resistance of the wedge. If it succeeds, the price may head towards 1.0945 within the channel. But if the consolidation in the wedge continues, there will be a chance to break through the trend support. Regards R. Linda!
by RLinda
10
GOLD → FOMC meeting forms a bearish candleOANDA:XAUUSD is testing 1933 and after the third retest it forms a false-break. A Triple Top pattern (local value) appears on the chart. The price decreases to the support and forms a local consolidation. The retest of the 1912 area indicates to us that the market is preparing for a decline. A pullback to 1920 might be the key maneuver. If the price rebounds to 1912 and continues consolidating near the support, it is a good hint that the market is about to break the support and test the new low. But again, as long as the price is in the 1912-1938 range, it might continue rising above the 1920 level. Consolidation could last for quite a long time. Since at yesterday's FOMC meeting the majority supported holding the previous level or a rate hike, it is a priority to consider selling. A bearish candlestick is forming on the daily chart after the retest of the resistance area. If the sellers are ready with volumes, the price can quickly test the global low in the medium term. Resistance levels: 1920, 1930, 1933 Support levels: 1914, 1912, 1909. The price is squeezed in the 1920-1912 consolidation, the next retest of support may result in a breakout. Regards to R.Linda!
OANDA:XAUUSDShort
by RLinda
22
NZDUSD → Retest of the key resistance area. DowntrendFX:NZDUSD bounces from the local support area and forms a retest of the strong resistance area. What to expect from the price in the nearest future? The US is having a day off today, but at the same time the PMI is coming out and it looks like the data might be bearish for the currencies, so if this is confirmed, the currency pair might show some bullish volumes. The price is about to retest the resistance area and a break-down of the resistance will form a strong momentum towards 0.63054. BUT! We have a bullish trend, rally to the resistance, which can be stopped by the upper border of the range. As a priority, I expect price decline within the price channel, but if resistance is broken, it will be necessary to rebuild the strategy. Support levels: 0.6116, 0.60692 Resistance levels: 0.61911, channel resistance, 0.62359 . As a priority I expect a false breakdown of the channel resistance, followed by downward price movement towards support. But if the fundamental background changes, the price is likely to break resistance. Regards R.Linda!
by RLinda
16