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USDCHF → Breakout of wedge resistance. CPI aheadFX:USDCHF is showing positive signs of willingness to continue the uptrend. The dollar is consolidating in the meantime in anticipation of CPI, which creates risks for us The currency pair is testing the support at 0.877 as part of the correction. A false breakdown and a reversal pattern is formed, which indicates the end of the correction. The price updates the local lows, and on the 4-hour timeframe it enters the realization phase after breaking the wedge resistance. The focus is on 0.882 - 0.8848. If the bulls keep the defense above this zone even after the news, the growth of the currency pair will continue in the future, as the key liquidity zones are still untested Resistance levels: 0.8848, 0.8887 Support levels: 0.882, 0.880 CPI is ahead and traders are not yet ready to take active action prematurely. The report may form a medium-term potential. A break of 0.8848 will be the trigger for continued upside. But, the structure will be broken if the market breaks 0.876 Regards R. Linda!
Long
by RLinda
2
GBP/USD Plunges Below 1.2600 Amidst USD SurgeIn recent US trading sessions, the GBP/USD currency pair has dropped below the 1.2600. This sharp decline has been driven by the strong rise of the USD, indicating robust and stable growth in the US economy. Technical charts illustrate this significant adjustment, with indicators such as the Simple Moving Average (SMA) and the Relative Strength Index (RSI) clearly showing the trend. Specifically, the SMA 20 is gradually trending downwards, indicating increasing selling pressure and the potential for continued decline in the near future. The RSI surpassing the overbought level also signals that the market is being pushed too far, and a correction is inevitable. With these developments, it's evident that the GBP/USD pair is facing strong selling pressure. The rapid ascent of the USD poses significant challenges for the GBP, and investors need to be cautious of the possibility of further declines.
by Ariana_alila
🇪🇺 EURUSD 🇺🇸 - Trend and structure change EURUSD may continue its decline amid economic instability. The dollar index is strengthening on market manipulation by the Fed. The regulator is not going to reduce the interest rate early. The euro is declining against this background, showing some weakness. Reasons for the decline: 1) Market structure is changing 2) The previously broken trend plays into the hands of bears 3) price does not update local maximums 4) The market is under pressure from above, on the background of growing dollar. 5) Retests of local lows
Short
by AndeWave
1
🥇 GOLD - The price looks good again for further buying Gold is getting stronger amid favorable fundamental background that emerged after the Fed chief's speech. He suggested for the future that they are preparing to cut the interest rate and the high dollar may come down. Speculators took this as a favorable wind and started buying the asset again Reasons for further growth ↑: 1) The market bought back half of the decline due to the news 2) Consolidation near resistance 3) There is no reason to fall. Strong support is forming at 2030 4) Market dynamics is bullish, dollar is weakening. 5) zone of interest 2050 - 2075 6) It is worth paying attention to levels 2030, 2020 for further purchase of the asset. But there may be a correction before the growth to 2075
OANDA:XAUUSDLong
by AndeWave
1
🥇 GOLD - FB of resistance. When will the growth continue?GOLD is not giving up. The price continues to observe the boundaries of the uptrend. Another retest of resistance after a test of support is being formed. At this point, a setup is forming, after which a correction to the trend support area may be formed Prerequisites for a pullback and further growth: 1) Price tests resistance three times, each new reversal is formed from the lowest point. There is no update of the high 2) The range is formed, the range resistance is 2004. False breakout leads to correction 3) Correction target may be 1985, 1980. 4) The upside will continue as the metal still has high interest due to the war in the middle east and the weakening dollar. Key support: 1985, 1980 Key resistance: 1996, 2004
OANDA:XAUUSDLong
by AndeWave
3
USDCAD → Growth may continue after correction FX:USDCAD is forming an impulse from the base of the ascending price channel. When breaking through the resistance mentioned earlier, we see active strengthening, which is also supported by the fundamental component The TVC:DXY is in a bullish trend, as evidenced by the weekly chart on the left. The price is chasing a rise towards 107.5, which will make the currency pair strengthen. On the USDCAD chart we see a local stop in front of the resistance at 1.3712, consolidation is forming, which may activate the correction phase. The correction may end with a retest of 1.3640 support or form a small pullback and a retest of 1.3712. In the future, I expect the continuation of active growth on the part of the currency pair. As a target I pursue the area of 1.3800. Moving averages indicate bullish potential. Support levels: 1.3690, 1.3640 Resistance levels: 1.3712 I expect the growth to continue after a small correction or consolidation. Target 1.3800. Regards R. Linda!
Long
by RLinda
15
💱EURGBP - False breakdown. Double top EURGBP made an unsuccessful attempt to break through resistance on the background of weakening pound sterling. A false breakout in the double top format is forming. TA on the high timeframe: 1) False breakout of range resistance may bring the price back to support 2) The liquidity target area is around 0.85600. TA on the low timeframe: 1) A move back inside the range is forming. 2) Price may form a retest of 0.8659 resistance before further decline 3) False breakout in the double top format is quite a strong set-up. In the long term we should expect a fall to 0.86076 and then to 0.85650. Key support📉: 0.8630 Key resistance📈: 0.8660
Short
by AndeWave
14
💱GBPJPY - The counter-trend correction may end soon GBPJPY is in the correction phase amid the global uptrend. The Central Bank may stop raising rates, which will predictably affect the pricing of the pound. A wedge is forming within the correction, which is an interesting set-up against the backdrop of the GBPJPY currency pair TA on the high timeframe: 1) The Japanese Yen may continue its weakening. In this case, the pound, on its background will begin to actively strengthen 2) Within the wedge and against the background of the indicator on the D1 chart, we see the formation of consolidation (wedge against the background of the uptrend). In the future, the growth of the currency pair may continue TA on the low timeframe: 1) We have an actual descending channel. Consolidation is formed in the range between 183.4 - 182.7. 2) A descending wedge is also forming on the chart. Statistically, in this case, most often the price breaks the resistance figure to end the counter-trend correction 3) We are waiting for a breakout of the triangle resistance with subsequent growth. 4) But the consolidation of the price below 182.7 will be a signal for selling. Key support📉: 182.7 Key resistance📈: 183.5
Long
by AndeWave
10
💱USDCAD - The market is testing the limit support area USDCAD is forming a retest of the key support area. The correction phase is quite deep and amounts to almost 1.5% of the price. Most likely, as long as the market is standing still, including the dollar, the currency pair can form a false breakdown of the liquidity area TA on the drawdown timeframe: 1) support retest, we have 5 confirmations. The level was resistance earlier, now it plays the role of support - a strong formation. 2) Flat formation TA on the low timeframe: 1) A flat, both local and global, is being formed 2) Retest of the support at 1.34970 may form a false breakout with further strengthening. 3) BUT! Judging by D1, bears are pressing the market hard. There is a chance of breakout and fall 4) Consolidation either below or above the level will form the entry point. Key support📉: 1.34970 Key resistance📈: 1.35668
Long
by AndeWave
9
💱GBPUSD - Rising channel. Is growth to 1.29000 possible? GBPUSD forms a rebound from 1.26525 support and forms a local counter-trend correction TA on the high timeframe: 1) Price in the range of 1.28484 - 1.26525 2) After a false breakdown of support there is a potential for strengthening to resistance TA on the low timeframe 1) A local bullish channel is formed 2) Price consolidates at support and forms a retest of resistance 3) Within the up-trend, the retest of 1.27836 may form a breakout and growth to 1.29000. Key support📉: 1.27155 Key resistance📈: 1.27836
Long
by AndeWave
6
BTC ANALYSIS 21/7/23BYBIT:BTCUSDT.P Hey guys just a quick update on BTC... it's boring yes. that's why I'm staying patient and just risking 1% here and there so not trading much at all at the moment. So obviously you can see we are hanging at a bearish type of order block and the chart overall does look quite bearish for the time being or 'in consolidation' or as I like to call it, the patience zone! this is a time for your best performance with being patient. Instead of a technical analysis update today I just want to make this about what you could be doing instead of sitting there starring at the charts all day and all night. - Make this time a perfect opportunity to study your craft. - Practice things like meditation - Fitness is key, switch your mindset and focus on what you are eating and take control of a physical goal. Just these simple things will harden your armor, use time wisely. Thanks guys.
by fusfamily
💱GBPAUD - False breakdown and reversal setups GBPAUD is forming a false breakout and a global reversal pattern that could send the price 400 pips down. TA on the high timeframe: 1) False breakout of the resistance zone: 1.9183 - 1.9035 2) Price breaks the base of the reversal pattern and forms an impulse. TA on the low timeframe: 1) The H&S reversal pattern starts the realization phase 2) As the price is in a global flat, we have the potential for a decline to 1.86000 3) Price breaks 1.889, most likely a retest or bounce to 1.8988 before further decline. Key support📉: 1.8894, 1.8782 Key resistance📈: 1.8988
Short
by AndeWave
5
💱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
ETH - Wait For The Trigger 🔫 Analysis #33/50Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. ETH has been stuck inside a range between 1500 support and 1700 resistance. Now ETH is sitting around 1700 - 1730 resistance zone. 🏹 For the bulls to take over, we need a momentum candle close above 1730 Meanwhile, if we break below 1650, a correction till 1500 support would be expected where we will be looking for new buy setups. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
31