Verified Company Solid ECN ✔️ Posted July 10 Author Verified Company Share Posted July 10 EUR/USD Forecast: Bulls Eye 1.0844 Solid ECN—EUR/USD tests the immediate resistance at 1.082. The technical indicators give mixed signals, with the Awesome Oscillator (AO) and stochastic oscillator being bearish. On the other hand, the RSI and Heiken Ashi suggest the bullish market will resume. From a technical perspective, the ascending trendline and the 23.6% Fibonacci retracement level at 1.080 play critical roles as support. The bull market remains intact as long as the pair trades above it. In this scenario, if the price exceeds the immediate resistance at 1.082, the next bullish target will be the July 8 high at 1.0844. Conversely, if the EUR/USD price dips below the key support level at 1.080, the bull market should be invalidated, and the bears (sellers) will likely push the price down to the 38.2% Fibonacci retracement level at 1.077. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 11 Author Verified Company Share Posted July 11 EUR/USD Analysis - 11-July-2024 Solid ECN—The European currency resumed its uptrend trajectory against the U.S. Dollar in today's trading session as expected. However, the EUR/USD pair is in an overbought state as both stochastic and RSI (14) are above 80 and 70. From a technical standpoint, the price might consolidate near the 50% followed by the 61.8% Fibonacci level before the uptrend resumes. Traders and investors should monitor the 1.085 level for bullish signals such as a bullish engulfing candlestick or a hammer candlestick pattern. Conversely, if the price dips below the 61.8% Fibonacci level, the bull market should be invalidated. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 12 Author Verified Company Share Posted July 12 AUD/USD Uptrend Resumes above 0.675 [/url] Solid ECN—The Australian dollar bounced from an ascending trendline against the U.S. Dollar from the immediate resistance at 0.675. The technical indicators provide mixed signals, mostly because all technical tools are lagging. That said, from a technical perspective, the AUD/USD is in a bull market because the currency pair trades in a bullish channel. If the immediate resistance holds, the next bullish target will be testing the key resistance level at 0.679. Conversely, if the price dips below 0.675, the next support area will be 0.672, a supply zone backed by the Ichimoku Cloud. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 12 Author Verified Company Share Posted July 12 Gold Technical Analysis - 12-July-2024 Solid ECN—XAU/USD dips from $2,424 as expected since the RSI 14 and the Stochastic oscillator were in oversold territory. With the bullish primary trend, the consolidation phase can provide new opportunities for traders and investors to find a decent bid to join the bull market. The $2,392 and $2,387 levels offer new entry points. That said, traders should monitor these supply zones for bullish candlestick patterns, such as a hammer or a bullish engulfing pattern. Please note that if the bears close below $2,387, the consolidation phase could extend to $2,370, a support area backed by the Ichimoku Cloud. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 15 Author Verified Company Share Posted July 15 AUD/USD Analysis: AO Signals Twin Peaks Solid ECN—The AUD/USD pair is in an uptrend, trading above the $0.6761 immediate resistance and the ascending trendline. The immediate resistance is at 0.6767, Friday's peak. Interestingly, the awesome oscillator signals twin peaks, which is a bullish signal if the bar turns green again. From a technical standpoint, if the bulls close above the 0.6767 immediate resistance, the uptrend will likely resume, and the next bullish target will be at 0.6792, followed by July's all-time high at 0.6801. Conversely, a dip below the immediate resistance at 0.6761 could extend to 0.6752. Furthermore, if the selling pressure exceeds 0.6752, the bullish scenario should be invalidated, and the trend should be considered reversed from a bull market to a bear market. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 15 Author Verified Company Share Posted July 15 USD/JPY Analysis: Bears Face Key Resistance Solid ECN—The USD/JPY currency pair tested the 157.6 resistance level as shown in the daily chart. The technical indicators are bearish, but if the bulls (buyers) can hold the price above the key resistance level at 157.6, the uptrend will likely resume and initially target 160.3. Conversely, if the price dips below the key resistance, the bearish momentum could target the next support level at 155.6. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 15 Author Verified Company Share Posted July 15 USD/CHF Update: Bears Eyeing Key Resistance Levels Solid ECN—The USD/CHF pair trades within a bearish flag pattern and is aligned with the 50-period simple moving average, highlighting a pronounced downtrend. Despite the Awesome Oscillator bars turning green, they remain below the signal line, indicating a weakening of the bearish trend. From a technical perspective, the primary trend remains bearish as long as the pair stays below the descending trendline. In this scenario, sellers will likely test the 0.891 resistance level again. Should the selling pressure surpass 0.891, the next resistance area would be at 0.888. On the other hand, if buyers manage to close and stabilize the price above the descending trendline, the bearish trend would be invalidated. This would signify a reversal from a bear market to a bull market. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 15 Author Verified Company Share Posted July 15 Unpredictable Market Keeps Silver Prices in Limbo Solid ECN—Silver trades between the $30.5 immediate support and the $30.9 immediate resistance. The technical indicators give mixed signals, which adds to the uncertainty in the market direction in the short term. That said, the price has crossed the 50-period moving average several times, which could confuse retail traders. In such a situation, traders and investors should wait patiently for the market to break out from one of the immediate barriers. The primary trend should be considered bullish since the silver price is still above the 38.2% Fibonacci. In this scenario, if the bulls close and stabilize the price above $30.98, the bull market will likely resume, and the initial target could be retesting the $31.48 resistance. Conversely, if the price dips below the immediate support at $30.5, the value of silver could drop to the next supply zone at the 50% Fibonacci level, marked at $30.1, which is backed by the 100-period simple moving average. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 16 Author Verified Company Share Posted July 16 DAX 30 Index Tests Key Fibonacci Level Solid ECN—The DAX 30 Index experienced a decline during today's trading session, reaching the 38.2% Fibonacci retracement level at $18,429. Technical indicators suggest a bearish market trend, with potential signs of being oversold. From a technical perspective, entering short positions in an oversold market is inadvisable. Consequently, traders and investors are encouraged to await a correction near the 61.8% Fibonacci retracement level. At this point, a bearish engulfing pattern should be observed before considering joining the bear market. Alternatively, should the price stabilize above the 61.8% Fibonacci retracement level, an upward movement towards the 78.6% Fibonacci retracement level at $18,661 is anticipated. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 16 Author Verified Company Share Posted July 16 WTI Crude Oil Nears Crucial Resistance at $80.6 Solid ECN—WTI Crude Oil is currently oversold, testing a critical resistance level at $80.1. The Awesome Oscillator indicates a prevailing bear market; however, the RSI 14 and Stochastic Oscillator signal an oversold market, suggesting a consolidation phase may be imminent. Traders and investors are advised to wait for the oil price to recover some of its recent losses, as shorting a market with intense selling pressure is not advisable. Nonetheless, the oil price may rebound to test the immediate resistance at the 23.6% Fibonacci level of $80.6, a level reinforced by the low on July 15. It is essential to monitor the $80.6 demand area for bearish candlestick signals. Please note that if the bulls (buyers) close and stabilize the price above the 23.6% Fibonacci level, the next key resistance will be $81. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 16 Author Verified Company Share Posted July 16 Bitcoin Price Correction Expected Soon Solid ECN—Bitcoin's uptrend eased near the 61.8% Fibonacci retracement level at $64,923. The technical indicators suggest the price might consolidate before the uptrend continues. The stochastic oscillator is in the overbought territory, indicating that Bitcoin is overpriced in the long term. Additionally, the RSI aligns with the stochastic's signal. Therefore, we anticipate the BTC/USD pair to dip and test the 38.2% Fibonacci level before the uptrend resumes. It is worth noting that going long at the current price is risky due to the market being in an overbought state. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 16 Author Verified Company Share Posted July 16 EUR/USD Consolidation and Bearish Signals Solid ECN—The EUR/USD currency pair shows signs of consolidation after the price peaked at 1.092 and formed a shooting star candlestick pattern on the 4-hour chart. Moreover, the Awesome Oscillator and the momentum indicators also show signs of a short-term bearish trend that might result in the price testing the 1.086 resistance level, followed by the 38.2% Fibonacci at 1.082. These levels could provide a decent bid price for retail traders to join the bull market. If the bears (sellers) push the price below the ascending trendline, the bull market will be invalidated. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 17 Author Verified Company Share Posted July 17 USD/JPY Analysis: Bearish Target Set at 155.6 Solid ECN—The USD/JPY price has fallen below the ascending trendline and the 157.6 resistance level, currently trading around 157.0 in today's session. Technical indicators on the daily chart suggest that the downtrend will likely resume following this breakout. From a technical standpoint, the immediate resistance is at 158.8. With the price remaining below this level, the next bearish target is anticipated at the 155.6 resistance. However, should the USD/JPY price rise above the immediate resistance, the bearish scenario will be invalidated, potentially paving the way for a bullish advance toward the 160.3 resistance. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 17 Author Verified Company Share Posted July 17 Ethereum Tests 61.8% Fibonacci Level Solid ECN—Ethereum trades in a bullish flag pattern, testing the 61.8% Fibonacci level. The momentum indicators suggest the ETH/USD market is overbought. Therefore, we expect the price to consolidate near the lower line of the ascending trendline. Retail traders can find new, low-risk opportunities to join the bull market if the price dips to near the middle line of the Donchian channel, at approximately $3,345. Consequently, we suggest waiting patiently for the market to consolidate and monitor the key support levels for bullish signals. However, the bull market should be invalidated if the price dips below the ascending trendline. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 17 Author Verified Company Share Posted July 17 XRP/USD Overbought: Is a Dip to $0.56 Ahead? Solid ECN—Ripple is in an uptrend, trading at approximately $0.62 in today's session. The recent bullish trajectory has driven the XRP/USD pair into overbought status, as both the RSI and Stochastic oscillator hover above 70 and 80, respectively. If the bars turn red, the Awesome Oscillator could form a twin peak signal. If this happens, the Ripple price could dip to $0.56, providing a low-risk and decent bid to join the bull market. Traders and investors should note that trading in an overbought market is not advisable. Furthermore, the bullish scenario will be invalidated if Ripple dips below the key resistance level at $0.56 and the ascending trendline. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 17 Author Verified Company Share Posted July 17 Gold Price Dips: Will Bulls Hold $2,439? Solid ECN—Gold prices dipped from $2,483, while the stochastic oscillator warned of an overbought market. The current bearish momentum should be considered a consolidation phase, which could extend to testing the July 15 low at $2,439. Consequently, for the uptrend to resume, the bulls must maintain the XAU/USD price above the immediate resistance at $2,439. Traders should note that the immediate resistance is in conjunction with the 25-period simple moving average, a supply level that could offer a decent bid price for the bull market. Furthermore, if the gold price falls below the immediate resistance, the consolidation phase can extend to $2,420, followed by $2,392, a supply zone backed by the Ichimoku cloud. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 18 Author Verified Company Share Posted July 18 Bearish Momentum in EUR/USD Gains Strength Solid ECN—The EUR/USD currency pair is in an overbought state, trading at about 1.093 and testing the immediate resistance at 1.0922. The stochastic oscillator is above 80 and declining, indicating that bearish momentum is gaining strength. It is likely for the bears to dip the price to test the ascending trendline before the uptrend resumes. If the price dips below the trendline, the next support level will be 1.0870. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 18 Author Verified Company Share Posted July 18 USD/CAD Tests Key Trendline at 1.367 Solid ECN—The USD/CAD currency pair tests the ascending trendline at approximately 1.367, with the technical indicators in the 4-hour chart suggesting the bearish momentum might extend to the lower resistance level. The primary trend is bullish, with the price above the 38.2% Fibonacci level. If the USD/CAD price holds above the 1.366 mark, the uptrend will likely resume to retest the 1.370. Conversely, if the price dips below 1.366, the bullish outlook will be invalidated. In this scenario, the next support level will be at the 50% Fibonacci retracement level at 1.364. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 18 Author Verified Company Share Posted July 18 Silver's Bearish Trend: Key Levels to Watch Solid ECN—Silver's short-term trend direction is bearish, trading in a bearish flag, slightly above the 100-period simple moving average. The XAG/USD pair is testing the 38.2% Fibonacci at $30.5 in the current session, with technical indicators suggesting the downtrend should resume. The immediate resistance is at $30.5. The downtrend will likely resume if the price remains below this barrier. In this scenario, the sellers could initially target the lower line of the bearish flag. On the flip side, if the bulls (buyers) close and stabilize the price above the immediate resistance, the pullback that began from the 50% Fibonacci could result in the Silver price surging and targeting the 23.6% Fibonacci at $30.9. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 19 Author Verified Company Share Posted July 19 EUR/USD Analysis: Key Resistance at 1.087 Solid ECN—The EUR/USD currency pair dipped below the ascending trendline, approaching the key resistance level at 1.087. The technical indicators in the 4-hour chart suggest that the bearish momentum will likely extend to the lower resistance zones. The immediate resistance that could keep the price from dipping further is 1.087. If this level holds, the uptrend will likely resume. However, if the bears push the price below 1.087, the consolidation phase could extend to 1.084. Therefore, traders and investors should closely monitor the 1.087 key resistance level for bullish candlestick patterns or a bearish breakout to plan their strategies accordingly. Link to comment Share on other sites More sharing options...
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