Hey Traders, in today’s trading session we are monitoring EURGBP for a selling opportunity around 0.84100 zone, EURGBP is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.84100 support and resistance area.
Trade safe, Joe.
Two touches on either side constitutes a range and we see that in GBPCAD. The preceding move was bullish, but we have been in a range since late Sep. Price has been comfortably above the 200dma and this gives me a bullish bias. Current price at the bottom of the range is where a long trade makes most sense. If this works out as I anticipate, we should have a +3R trade.
I will add that I like the look of this chart, recent moves are strong and decisive. Note also how the small bullish candles last week had relatively good volumes, while the larger bearish candles had relatively low volumes. Could the bulls possibly be taking over this market?
This is not a trade recommendation, it is merely my own analysis. If you decide to trade this, you should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
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Disclaimer: This analysis is for informational purposes only and should not be considered as investment advice. Cryptocurrency markets are highly volatile, and prices can fluctuate rapidly. Always consult multiple sources and conduct thorough research before making trading decisions.
Time Frame: 1-hour
Market Analysis:
Following our previous analysis, the market remains in a consolidation phase. Although the price bounced off the Demand. However, it lacks impulsive momentum, indicating the correction phase persists.
However, once the price crosses the daily Point of Control (POC) and it transitions into a support level at 3,188.86, the price is likely to surge significantly upward.
Alternative Scenario:
On the other hand, If price dips below invalidation level at 3,014.0 This would warrant caution, as it increases the likelihood of continued downward momentum to retest a weekly point of control at 2,908.64 – 2,850.0
Key Levels:
Trading Bias:
The market remains in consolidation, having absorbed inducements. Additional support is added at level 3014.0. The volume is low. If the price slips below the invalidation point, the bullish narrative would be compromised, potentially triggering a reversal.
https://www.tradingview.com/x/NTlIC6vV/
Technical analysis: Ascending channel – 1W
After a climb up to the $30 range, the 
GASUSDT currency has faced a zigzag correction in the daily time frame, which has faced demand again in the $2.50 range.
– It is currently moving in an ascending channel with higher floors and ceilings.
According to the current momentum, which is currently at the top of the short-term ascending channel.
– In case of selling pressure at the ceiling of the channel, it can face demand again in the middle of the channel or the green box area and an upward trend up to the ceiling of the second channel in the range of 8 to 10 dollars. go through
️In addition, if the golden box is broken, the bullish scenario will be invalidated and should be reviewed and updated again.️
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METISUSDT reversed strongly from a critical demand zone, completing impulsive wave (i) of larger wave 3, followed by a correction forming subwave (ii) of 3. Currently, the price is progressing into subwave (iii) of 3. The plan is to buy within the designated buyback zone and patiently hold as the setup unfolds. Target levels are marked on the chart, with further updates to follow as the structure develops.
Based on my in-depth analysis, I remain confident and am maintaining my buy position on Alliances shares, despite the 23% gain already achieved. The indicators show me that the stock can easily reach the 600 DHs level, unless the market makers decide to change their strategy….
Trend and Price Action: MSFT has seen a mix of upward and downward movements, with price consolidating near resistance levels. The trendline suggests some recent selling pressure as MSFT has started to pull back from its highs around $432.52.
Support and Resistance Levels:
Resistance: Key resistance is around $432.52, where MSFT may face selling pressure. A strong breakout above this could signal further upside, potentially targeting $435.
Support: Immediate support is around $427.70, and stronger support lies near $424.22 and $422.39. These levels could serve as buying zones if MSFT retraces.
MACD Indicator: The MACD is currently showing a slight bearish tendency. If this continues, it may signal short-term downward pressure, aligning with the recent resistance level rejection.
Volume: Volume appears moderate, indicating consolidation. If volume increases on a downward move, it could signal stronger selling pressure.
Suggested Strategy
Bullish Scenario: If MSFT breaks above $432.52 with volume, consider entering long, targeting $435, with stops below $430 for risk control.
Bearish Scenario: If MSFT fails to break above resistance, consider short entries near $432 with targets at $427 or $424.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Please conduct your own research or consult a professional before making any trading decisions.
XAUUSD, 15-minute timeframe chart
General outlook
XAUUSD has been under buying pressure within the last day. The pair moved up to the resistance level of 2,733.00.
Possible scenario
The best way to use this opportunity is to place a buy order at 2,732.30.
Set your stop loss at 2,726.30 below the previous low ($6.00 loss for 0.01 lot) and take profit at 2,745.30 ($7.00 profit for 0.01 lot).
The risk-reward ratio for this order is 1:1.
Key Levels:
Resistance Levels:
$232.00: Recent overhead resistance; a strong breakout above this level may signal bullish momentum.
$237.23: A significant resistance level where a potential reversal may occur.
Support Levels:
$230.05 – $227.75: This area shows a cluster of recent support. A breakdown below $227 could see further downside.
$224.00 (Approx): Lower support boundary if price weakens further.
Indicators:
Volume: Elevated volume suggests active trading, but observe if there’s declining volume on a pullback, which could imply consolidation.
MACD (lower panel): Shows potential bearish momentum, though it’s near the zero line, indicating a weak trend that may go either way depending on volume.
Suggested Trading Plan:
Bullish Scenario: Look for a strong breakout above $232 with volume, targeting $237 for a quick scalp. Consider a stop-loss around $230 to manage risk.
Bearish Scenario: If the price breaks down below $227 with increasing selling volume, consider entering a short position, targeting $224, with a stop around $230.
Short Disclaimer:
“This analysis is for informational purposes only and not financial advice. Always conduct your own research before making trading decisions.”
Based on the chart and the current situation, I see gold prices are creating a gap and tending to rise to close that gap. This may reflect the cautious sentiment of investors ahead of the release of important US economic data this week, including GDP, unemployment rate, consumer confidence index and some other important indicators on the labor market.
US government bond yields are rising sharply, pushing to 4.275%, and the Dollar-Index is also at a high of 104,400 points. These factors usually put downward pressure on gold prices because a stronger USD makes gold more expensive for investors holding other currencies. However, with the gap opening up, I expect a short-term rally to close the gap, before gold continues to test higher resistance levels.
The key support level is still around $2,730, and if the price holds at this level, there is a good chance of a short-term rally to fill the gap, giving investors a chance to find a reasonable entry point in the short term. However, I remain cautious with the possibility of a drop to lower levels if US economic data supports the strength of the USD.