FxNews Posted September 15 Share Posted September 15 Litecoin Dips: Key Levels to Watch for Bearish Targets FxNews—Litecoin is currently pulling back from a descending trendline and is trading around $64. This bearish movement was anticipated, as both the Stochastic Oscillator and the RSI 14 indicated overbought conditions. Price Forecast The immediate support is at $58.5, and bears may aim for this level if the price remains below the key resistance of $67.5. Additionally, if selling pressure pushes the price below $62.25, the next target could be $58.5. However, this bearish outlook would be invalidated if the LTC/USD price crosses and stabilizes above the $67.5 resistance level. Link to comment Share on other sites More sharing options...
FxNews Posted September 16 Author Share Posted September 16 Cardano Tests Key Support: Will the Downtrend Continue? FxNews—Cardano (ADA) is currently testing the immediate support level of $0.33. At the same time, the stochastic oscillator indicates a value of 9, signaling an oversold market condition. Additionally, the ADA/USD price is trading below both the 50- and 100-period moving averages, confirming that the primary trend remains bearish. Forecast From a technical perspective, immediate resistance is at $0.330. If the ADA/USD price rebounds, it could potentially rise to test the $0.349 resistance level before the downtrend resumes. Bearish Scenario If the price closes and stabilizes below $0.330, it is likely that the downtrend will continue, with a target of $0.304. Link to comment Share on other sites More sharing options...
FxNews Posted September 16 Author Share Posted September 16 WTI Crude Oil Poised for Breakout: Key Levels to Watch FxNews—WTI Crude Oil has climbed above the 50-period simple moving average, with the Stochastic oscillator moving away from overbought levels, and the most recent bar on the Awesome oscillator turning green. This developments in the technical indicators suggest the bear market weakens. Forecast The immediate resistance stands at $70.5. If the bulls push past this level, the price is likely to fill the 'fair value gap,' aiming for $72.1. On the downside, a drop below the immediate support at $68.5 could signal a bearish trend. If this occurs, the $65.5 support level may come into play once again. Link to comment Share on other sites More sharing options...
FxNews Posted September 16 Author Share Posted September 16 NZD/USD Eyes $0.625 Beyond 100 SMA Barrier FxNews—The New Zealand dollar trades above the Supertrend at around 0.618 against the U.S. dollar. The descending trendline slowed the bullish wave that began at $0.611. The RSI (14) is above the median line, signaling that the market is not overbought and should resume its upward movement. The Awesome Oscillator bars are green, meaning the bull market prevails. Forecast The 100-period simple moving average or the descending trendline is the primary barrier for buyers. $0.625 will likely be targeted if the NZD/USD price breaks above the 100 SMA. On the flip side, a dip below the immediate support at $0.617 will invalidate the bullish market. In this scenario, the New Zealand dollar could dip to the $0.610 support level. Link to comment Share on other sites More sharing options...
FxNews Posted September 17 Author Share Posted September 17 (edited) USD/JPY Bear Market Explained FxNews—The immediate resistance is at 140.3, and the market condition is oversold. Hence, it is advisable to wait patiently for the USD/JPY price to consolidate near the upper line of the descending channel, around 143.4. Furthermore, the downtrend will likely be triggered again if the descending trendline holds. If this scenario unfolds, the next bearish target could be the 137.2 level. Please note, the bearish market would be invalidated if the USD/JPY price exceeds the 146.8 level. Edited September 17 by FxNews Link to comment Share on other sites More sharing options...
FxNews Posted September 17 Author Share Posted September 17 FTSE 100 Reaches New High Amid Global Optimism FxNews—On Tuesday, the FTSE 100 hit around 8,340, its highest since early September, following positive global market trends. Investors focused on the Federal Reserve’s two-day meeting, anticipating a rate cut—the first in over four years. The Bank of England is also meeting this week but is expected to keep interest rates steady. Focus on UK Inflation Data UK inflation data, due Wednesday, is key as investors look for signals on future Bank of England policy decisions. This data could influence future interest rate moves. Kingfisher Leads Stock Gains Kingfisher shares surged nearly 7% after raising its full-year profit outlook. DS Smith (+3%) and Phoenix Group Holdings (+2.2%) were also among the top gainers. Flutter Entertainment Acquires Playtech’s Italian Business Flutter Entertainment agreed to buy Playtech Plc’s Italian gambling business for €2.3 billion ($2.6 billion), marking its latest global expansion. Link to comment Share on other sites More sharing options...
FxNews Posted September 17 Author Share Posted September 17 (edited) USD/CAD Bull Market Faces Crucial Support Test FxNews—USD/CAD trades sideways. Meanwhile, the MACD indicator signals divergence while the pair is in a bull market, meaning the trend could potentially reverse. Forecast The immediate support level is at 1.356. If the USD/CAD price dips below 1.356, the decline could extend to the next support level at 1.349. Furthermore, if selling pressure breaks below 1.349, the August 2024 low at 1.344 could be tested. Bullish Scenario The immediate resistance is at 1.362. If the bulls push and stabilize the price above 1.362, the current upward momentum could potentially extend to 1.369. Please note, the bull market would be invalidated if the price dips below 1.356. Edited September 17 by FxNews Link to comment Share on other sites More sharing options...
FxNews Posted September 18 Author Share Posted September 18 EUR/USD Faces Key Resistance at 1.115 FxNews—The EUR/USD currency pair is testing the 1.115 resistance level, in conjunction with the descending trendline. Meanwhile, the Stochastic, RSI (14), and the Awesome Oscillator are declining, suggesting that the bear market is gaining momentum. However, the price is above the 100-period simple moving average, which is a robust signal for the bull market. Quote Overall, the technical indicators suggest the primary trend is bullish, but the EUR/USD price could consolidate before the uptrend resumes. Forecast The immediate resistance level is at $1.115. The uptrend will likely resume if the bulls close and stabilize the price above $1.115. If this scenario unfolds, the next bullish target will be $1.12. Bearish Scenario The immediate support lies at $1.109. If the EUR/USD price dips below $1.109, it could extend to $1.10. Please note, a move above $1.115 will invalidate the bearish strategy. Link to comment Share on other sites More sharing options...
FxNews Posted September 18 Author Share Posted September 18 XRP Faces Bearish Threat Despite Bullish Momentum FxNews—Ripple (XRP) trades in a bullish channel, but the 4-hour chart has formed a bearish butterfly pattern, which is a sell signal. The MACD value is declining, and the indicator is about to flip below the signal line, meaning the bear market is strengthening. Additionally, we notice that the recent candle is bearish and closed below the 100-period regression line, meaning the bear market could potentially resume. Quote Overall, the technical indicators suggest that despite the bullish momentum, XRP/USD could dip to lower support levels. Forecast The immediate resistance is at $0.563. The XRP/USD downtrend will likely be triggered if the price closes and stabilizes below $0.563. If this scenario unfolds, the downtrend could extend to the lower band of the bullish channel. Bullish Scenario If bulls (buyers) maintain their position above the $0.563 mark, and if they can close beyond the 100-period regression line, the uptrend will likely be triggered. In this scenario, the next bullish target could be retesting $0.597, followed by $0.612. Link to comment Share on other sites More sharing options...
FxNews Posted September 24 Author Share Posted September 24 Cardano Eyes Bullish Breakout at $0.364 FxNews—Cardano stabilized above the $0.349 support, testing the immediate resistance at $0.364. Meanwhile, the Awesome Oscillator signals divergence, indicating that the trend has the potential to consolidate or reverse. Adding to the divergence signal, the 4-hour chart formed a bearish long-wick candlestick pattern, signaling a potential market reversal. Forecast The primary trend is bullish because the ADA/USD price is above the 50- and 100-period simple moving averages. That said, the uptrend will likely resume if the Cardano price exceeds $0.364. In this scenario, the next bullish target could be the $0.376 mark. Bearish Scenario If the Cardano price fails to surpass the immediate resistance, it could potentially dip to the critical support level of $0.349, a supply zone backed by the 100-period simple moving average. Furthermore, the bullish outlook should be invalidated if the price crosses below the 100-SMA. Link to comment Share on other sites More sharing options...
FxNews Posted September 25 Author Share Posted September 25 Solana Consolidates After Breaking Resistance FxNews—Solana is in a bull market, trading above the 50-period simple moving average and the $149 immediate resistance. Meanwhile, the Awesome oscillator signals divergence, meaning the Solana price can potentially consolidate near the lower support levels. Forecast Today's decline in the Solana price can expand to $140 if the bears (sellers) close below the ascending trendline in the 4-hour chart. If this scenario unfolds, the $140 mark, which coincides with the 50-SMA, can provide a decent bid for retail traders to join the bull market. The outlook for the ADA/USD trend remains bullish as long as the price is above $140. That said, the next bullish target will likely be the August 2024 high at $162. Link to comment Share on other sites More sharing options...
FxNews Posted September 26 Author Share Posted September 26 GBP/JPY Eyes 195.5 After Resistance Test FxNews—The GBP/JPY currency pair closed and is now stabilizing above the 192.0 resistance, currently testing the 193.5 resistance. Meanwhile, the Awesome Oscillator and RSI signal divergence as the British pound gains against the Japanese yen. Therefore, a consolidation phase or trend reversal could be on the horizon. Forecast The pair is trading above the 50- and 100-period simple moving averages on the 4-hour chart. If the GBP/JPY price exceeds 193.5, the next bullish target could be 195.5. Please note, the currency pair in discussion has the potential to consolidate near the 50-period simple moving average before heading toward the target. Link to comment Share on other sites More sharing options...
FxNews Posted September 26 Author Share Posted September 26 USD/CHF Signals Sell Amid Gartley Pattern FxNews—The USD/CHF currency pair has formed a Gartley harmonic pattern on the 4-hour chart, signaling a sell. Immediate resistance lies at 0.851. Forecast The downtrend is likely to resume, targeting 0.842, provided that the bears hold their position firmly below 0.851. Bullish Scenario Conversely, the bearish outlook will be invalidated if the USD/CHF price exceeds 0.851. In this scenario, the bullish wave that began from 0.842 has the potential to target 0.854. Link to comment Share on other sites More sharing options...
FxNews Posted September 27 Author Share Posted September 27 Crude Oil Signals Consolidation Phase Ahead FxNews—Crude Oil crossed below the $68.5 support, but the market is still oversold, as the Stochastic oscillator hovers below 20. The Awesome oscillator also signals divergence, meaning the Oil price can consolidate near the upper resistance levels. Forecast It is not advisable to go short when a market is oversold. Hence, we suggest traders and investors wait patiently for the price to complete the consolidation phase. That said, the $70 resistance provides a decent ask price to join the bear market. Therefore, traders and investors should monitor this level for bearish signals, such as a shooting star candlestick or a bearish engulfing pattern. Please note that the Oil market will remain bearish as long as the price is below the 100-period simple moving average. Link to comment Share on other sites More sharing options...
FxNews Posted September 27 Author Share Posted September 27 Bitcoin Technical Analysis - September-27-2024 FxNews—Bitcoin is in a robust uptrend from $52.640. As of this writing, the BTC/USD price has stabilized above the $64,860 support, resuming its upward trajectory. The Awesome oscillator signals divergence in its histogram, with green bars above the signal line. This development in the AO histogram indicates that the market might enter a consolidation phase soon. Meanwhile, the stochastic oscillator stepped inside the overbought territory, signaling an overbought market. Forecast The primary trend is bullish because the price is above the 50- and 100-period simple moving averages. From a technical perspective, the uptrend should resume if the bulls maintain a position above the critical support level at $62,690, which the 50-period SMA backs. If this scenario unfolds, the next bullish target will likely be $66,950. Please note that the bull market should be invalidated if the BTC/USD price dips below the 50-SMA. Link to comment Share on other sites More sharing options...
FxNews Posted September 30 Author Share Posted September 30 Silver Consolidates Near $31.4 Resistance FxNews—Silver is trading in an uptrend, consolidating near the $31.4 immediate resistance. The Awesome Oscillator's divergence signal predicted the recent dip in the XAG/USD price. Additionally, the Relative Strength Index (RSI) indicator flipped below the median line, indicating that the bear market is strengthening. Forecast From a technical perspective, if the bears (sellers) manage to close and stabilize below the $31.4 resistance, the consolidation phase that began from $32.7 will likely extend to the next resistance level at $30.2, which is near the 100-period simple moving average. Link to comment Share on other sites More sharing options...
FxNews Posted October 1 Author Share Posted October 1 BTC/USD Oversold as Bearish Wave Extends FxNews—Bitcoin dipped to $62,690, as expected. The Stochastic oscillator shows a reading of 16, indicating that BTC/USD is in an oversold condition. On the other hand, the Awesome Oscillator bars are red and below the signal line, signaling that the bear market is gaining more momentum. Forecast From a technical perspective, the market outlook remains bullish as long as the BTC/USD price stays above $62,690. If the price falls below $62,690, the bearish wave that began at $66,950 could potentially extend to the 100-period SMA at $60,900. On the other hand, immediate resistance rests at $64,860. If the bulls stabilize the price above $64,860, the uptrend will likely resume. Link to comment Share on other sites More sharing options...
FxNews Posted October 2 Author Share Posted October 2 Bitcoin Poised for Consolidation After Sell-Off FxNews—Bitcoin's downtrend extended near the $59,500 supply zone after the sellers pushed the price below the 100-period simple moving average. The robust selling pressure moved the RSI 14 and Stochastic oscillator into the oversold territory, showing 31 and 17 in the description, respectively. Forecast Bitcoin's primary trend should be bearish because the price is below the 50- and 100-period simple moving averages. However, we anticipate the BTCUSD price to step into a consolidation phase, ranging between $61,190 and $62,770 for the subsequent few trading sessions. Link to comment Share on other sites More sharing options...
FxNews Posted October 2 Author Share Posted October 2 EUR/JPY Eyes 160 Resistance Amid Double-Bottom FxNews—The EUR/JPY currency pair is stabilizing its price below the 50-period simple moving average at about 159, forming a double-bottom pattern. Meanwhile, the Awesome oscillator histogram changed its color to green, signaling the bull market gains momentum. Forecast The immediate resistance is at 160.0. If the EUR/JPY bulls close above the immediate resistance, the current uptick momentum can potentially target the 163.0 mark. Bearish Scenario Conversely, if the sellers push the price below the 100-period SMA, the downtrend will likely be triggered. In this scenario, the next bearish target could be revisiting the 155.5 critical resistance. By J.J. Edwards Link to comment Share on other sites More sharing options...
FxNews Posted October 2 Author Share Posted October 2 Cardano's Bearish Trend Faces Crucial Test FxNews—Cardano's downtrend from $0.415 resulted in the price breaking below the ascending trendline. Subsequently, the robust bearish wave cooled near the $0.342 support. Meanwhile, RSI (14) has entered oversold territory, signaling an oversold market. Additionally, the Awesome Oscillator (AO) histogram has turned green but remains below the signal line, indicating that the bearish momentum is weakening. That said, the main trend remains bearish as long as ADA/USD trades below the 100-period simple moving average. Forecast The $0.342 mark is the immediate support, and the immediate resistance lies at $0.364. Cardano will likely range between these two levels this week. If the ADA/USD price exceeds $0.364, the uptrend will likely resume. In this scenario, the price could potentially rise to test the resistance at $0.377. Conversely, if sellers break below the $0.342 support, the downtrend will likely be triggered again. If this scenario unfolds, the ADA/USD downtrend could extend to $0.326. Link to comment Share on other sites More sharing options...
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