EURUSD Downtrend Holds Steady: Time to Go ShortEURUSD experienced a sharp decline earlier today, following the release of key economic data that spurred renewed bearish momentum. The market reaction was swift, with sellers overwhelming buyers and driving the price lower. After this initial move, the pair is now staging a pullback, attempting to recover some ground as it approaches a critical resistance zone. This retracement presents a significant technical setup that could dictate the pair’s next major move.
The current pullback is bringing the price closer to the resistance zone around 1.04300, a level that has proven pivotal in the past. Historical price action highlights this area as a confluence zone, marked by prior reversals and intensified trading activity. As the price approaches this region, signs of exhaustion are becoming increasingly evident. On closer examination of the candlestick patterns, rejection candles—characterized by long upper wicks and small bodies—are forming near this resistance level. These candles suggest that buyers are struggling to push the price higher, while sellers are beginning to regain control.
A deeper look at the 1-hour chart reveals a clear ABCD pullback pattern, a widely recognized harmonic structure in technical analysis. This pattern indicates a measured retracement within a broader downtrend, providing traders with potential entry points for the continuation of the trend. In this case, the "AB" leg represents the initial bearish impulse, the "BC" leg corresponds to the current corrective move, and the anticipated "CD" leg signals the likely continuation of the downward movement. If the pattern completes as expected, the price is likely to reverse from the resistance zone near 1.04300 and resume its descent.
The broader market sentiment further supports a bearish outlook. Macroeconomic conditions, combined with the technical dynamics of the pair, point to continued selling pressure. The recent news release acted as a catalyst, intensifying the downward momentum, and this sentiment is unlikely to change unless there is a significant shift in market fundamentals. Additionally, the lack of follow-through by buyers in the pullback phase underscores the strength of the prevailing bearish trend.
From a technical perspective, the resistance zone around 1.04300 holds immense importance. Not only does it align with the upper boundary of the ABCD pattern, but it also coincides with a key Fibonacci retracement level and a psychological price barrier. These overlapping factors create a strong confluence area, increasing the likelihood of a reversal. If the price fails to break above this zone, the bearish momentum is expected to accelerate, targeting the next significant support zone around 1.03260.
The support zone at 1.03260 represents a critical area where buyers may reenter the market. This level has acted as a demand zone in the past, providing temporary relief from selling pressure. However, given the strength of the current bearish trend, a test of this level seems increasingly likely. Traders should watch for additional confirmation signals, such as bearish candlestick formations or increased selling volume, as the price approaches the resistance zone.
It’s also worth considering potential invalidation levels. Should the price manage to break and sustain above the 1.04300 resistance, the bearish scenario would need to be reassessed. Such a move could indicate a shift in market dynamics, opening the door for a potential bullish reversal. However, until that happens, the dominant trend remains bearish.
In conclusion, EURUSD continues to exhibit strong bearish momentum, with the current pullback offering an opportunity to position for the continuation of the downtrend. As the pair approaches the 1.04300 resistance zone, the technical and fundamental landscape suggests that the bearish trend is likely to resume. My primary target remains the support zone at 1.03260, which aligns with prior swing lows and key technical levels. Traders should remain cautious and monitor key levels closely, ensuring that their risk management strategies are firmly in place.
Trend Analysis
Possible head and shoulders. My previous chart predicted a bearish divergence and this played out. Now there is a possible head and shoulders forming. However, Cardano does appear to be showing strength and this may be invalidated soon. I think it wholly depends on BTC movements. Right now BTC just hit a new ATH and the market followed this. I think ADA is showing strength in the RSI. Key support is 1.15, I think ADA does have the strength to reach this and hold it. Only time will tell, market is neutral in my eyes right now.
WLD trade setupLong term analysis
BINANCE:WLDUSDT witnessed a powerful bullish wave between July 2023 and March 2024. A corrective wave (around -90%) followed and formed a consolidation range on the weekly time fram. This range has formed an inverted Head and Shoulder pattern. The narrow Bollinger bands and the recent golden cross hint at a potential explosive move.
Strategy
Buy on the break of the H&S pattern neck line at 2.50$ or wait for a daily close above the weekly Bollinger Bands:
Objective 1: back to the next resistance at 4.25$ (+70%)
Objective 2: Following resistance at 6.5$ (+160%)
Objective 3: ATH at 12$ (+380%)
Invalidation
Mental Stop: below the last low of 2.12$
If prices retrace to this level we will wait for the daily close price then set a Stop loss ¼ or Risk below the daily close price.
BTC BEARISH SCENARIO IF WE BREAK 95K KEY STRUCTUREPersonally, I don’t think this scenario will play out, but as traders, we always need to consider two possibilities to gauge the likelihood of each unfolding.
This is my bearish scenario if we lose the 95K support. The next support level would be at 92K, followed by an oversold bounce toward 99K-100K. This bounce might deceive people into thinking the bottom is in, but it would likely face rejection, leading to a harder fall toward 87K.
Again, let me emphasize—I don’t see this scenario playing out, but it’s still a possibility we need to keep in mind.
What can you do? Exit altcoins altogether and wait to see if BTC moves back into the 100K region, which would invalidate this scenario from playing out.
Wave 3 Incoming? Why I’m Bullish on Gala’s Next MoveAfter closely tracking this correction since December 9th, I’m thrilled to share that my buy-in target of $0.03493 has been hit with near perfection. Throughout this period, I’ve carefully planned my exits and entries, which I’ve illustrated on my charts and shared as ideas in real-time.
By exiting and re-entering at key levels, I’ve been able to:
Protect my capital during the downturn.
Make some gains on the December 11th bounce.
Accumulate an additional 1.9 million Gala tokens on this re-entry – all without leverage.
At the onset, it’s always challenging to identify the exact type of correction we’re in. However, as the pattern unfolded, it became apparent that this was likely a Wave 2 correction, with price retracing to the 0.618 Fibonacci level. Historically, 70% of Wave 2 corrections retrace between 0.382 and 0.786, with only 15% going beyond that.
While there’s a possibility of further downside – especially as I remain short-term bearish on Bitcoin, which could drag alts lower – my priority is to secure a good price rather than aim for the absolute bottom.
Support Levels
Should the price dip further, key supports are:
200-day EMA: $0.03070
Weekly Support: $0.02959
0.786 Fibonacci Level: $0.02760
That said, I’m happy with my re-entry at this level and prepared to manage any downside.
Wave 3: The Opportunity
Wave 3 follows Wave 2 and is typically the most impulsive and exciting phase. Missing it while chasing a marginally lower entry is not a risk I want to take. Whether we’ve already completed the ABC correction or are in its final stages, I’m confident we’re transitioning towards something significant.
The next few days and weeks will be pivotal, and I’m excited to see how Gala performs from here. Let’s see where this journey takes us! 🚀
My Best analysis I have analyzed the recent price movement of gold (XAU/USD) on the 1-hour timeframe, and here are my observations:
1. Downtrend: The price is currently following a downward trend, indicating a bearish market sentiment.
2. Resistance Level: A strong resistance zone has been identified near the 2,598 level.
3. Potential Breakout: If the price manages to break above this resistance, an upward move can be expected. However, failure to break the resistance might result in a further decline toward the 2,560 level.
4. Bearish Target: A potential bearish target around 2,560 has been highlighted based on the current trend.
VET Bull Run Ignites: Unstoppable Growth Ahead!VET appears poised to continue its upward momentum, driven by strong fundamentals and a thriving ecosystem. Recent price movements have been substantial, reflecting growing confidence in VeChain's potential. Historically, periods of significant upward movement are often followed by phases of consolidation, providing a foundation for sustained growth.
Looking ahead, the current uptrend seems to be in its early stages. With VeBetter playing a pivotal role as the cornerstone of the ecosystem and rapidly expanding its influence, the outlook for VeChain in 2025 remains highly optimistic. The combination of robust fundamentals and ecosystem growth suggests a promising future for NYSE:VET and its stakeholders.
GOLD (XAUUSD): Intraday Bearish Bias
Gold nicely retested a recently broken key daily horizontal support.
After its test, I see very intraday bearish price action with
a confirmed local Change of Character CHoCH.
The price will most likely drop lower at least to 2585.
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40%correction btc history repeats Btc has hit a major barrier at 108k like every cycle btc will now have a major correction ( cooling period ) allowing the whales to take profits and move into the 2nd stage of the crypto bull run the alt coins..
Btc Dominence looks to have found a bottom and is rising which shows strength while all stocks are falling due to the fed news
I believe bitcoin will fall as low as 60-70k
As i previously said theres a parabolic curve that shows the true path of bitcoin.
The 3rd and final stage will be around jul -november 2025
Now will be a good time to look at alt coins.
I belive leash is a good investment built of the shiba chain and shows great investment to reward ratio it could easily go as high as 12k even as high as 35k giving it a market cap of 4 billion which in the crypto would is starting to look like pennies
Disclaimer !!! Do your own research and only act if you are confident and can afford to invest try to keep your portfolio below 10 percent of your networth to avoid big losses
BONK/USDT Chart Update.The BONK/USDT chart highlights a potential long trade setup based on technical analysis.
The price appears to be consolidating within a descending triangle pattern, with a breakout opportunity on the horizon.
Support Zone:
A crucial support zone appears between 0.00001697 and 0.00001999, suggesting a potential rebound zone for bullish momentum.
200-Day Moving Average:
The price is approaching the 200-day moving average, which could act as dynamic support.
Ichimoku Cloud:
The cloud suggests near-term bearishness, but a breakout above the resistance could signal a trend reversal.
Long Target Zone:
A green zone extending up to 0.00006239 indicates a high probability target for the next bullish leg.
Trade Setup:
Entry Point: Around the support zone at 0.00001999.
Stop-Loss: Below 0.00001697 to manage risk.
Take Profit Target:
Primary: 0.00004500.
Secondary: 0.00006239 for higher potential profits.
Risk/Reward:
The setup offers a favorable risk-to-reward ratio, making it an attractive option for long trades. However, before entering the trade, confirmation of a reversal (e.g., bullish candlestick pattern or volume spikes) is recommended.
DYOR, NFA
@Peter_CSAdmin
Cup and Handle Breakout in PETRONETPETRONET has formed a classic Cup and Handle pattern on the hourly chart, signaling a potential bullish breakout.
Pattern Breakdown:
Cup Formation: A smooth rounding bottom from ₹310 to ₹337, indicating strong accumulation.
Handle Formation: A slight retracement near ₹330, forming a consolidation zone before the breakout.
Indicators:
RSI: Currently above 70, showing bullish momentum.
Volume: Increased significantly, confirming buying pressure.
Key Levels:
Breakout Level: ₹337
The price has broken above this resistance, confirming the breakout.
Targets:
Target 1: ₹350
Target 2: ₹360
Stop-Loss: Below ₹330 (handle low).
💡 Disclaimer: This is for educational purposes and not financial advice. Please perform your due diligence before entering any trade.