Still tracking this wave 4 correction as part of wave 3 of the expected final move up for COIN. I am following a leading ABC structure and anticipating a little more downside before it is complete. My target is $287.60 but it could go significantly lower or be complete already. Next target once this correction is done is the ATH
#FLOW has similar pattern to many alt coins the correction waves made a good potential for a big rising wave but i think there should be another drop before the big rise !
In recent days, the EUR/CAD pair has exhibited notable fluctuations on the daily chart. After reaching the 1.5170 level, a significant resistance point in recent years, the price began to weaken and entered a consistent decline. This area served as a crucial psychological and technical barrier, leading to increased selling pressure. The price subsequently fell below the sideways support at 1.4900, indicating a short-term reversal. The decline continued aggressively, breaking through the 1.4610 support level, another key point on the daily chart, underscoring the strength of the sellers. Following this sharp decline, the pair experienced a pullback, returning to the previously broken 1.4900 area. This region, which had acted as support, now functions as significant resistance. This zone aligns with the 61.8% Fibonacci retracement level, drawn from the high of 1.5170 to the low of 1.4483, further emphasizing its technical importance. Given these factors, the expectation is for the EUR/CAD to continue its downward trend in the coming days. Potential Sell Trade A favorable selling opportunity may arise if the price closes below 1.4870 on the daily chart. Such a move would confirm rejection in the 1.4900 area and pave the way for further declines. Sell Details: Possible Entry Point: Close below 1.4870. Stop Loss: Above 1.4980, representing a risk of 110 pips. Take Profit: Near the 23.6% Fibonacci retracement level at 1.465, with a potential gain of 220 pips. Alternative Scenario: Bullish Resumption If the price does not close below 1.4870 and instead breaks the recent candle's high, we may see EUR/CAD retest the 1.5170 region. Such a move would invalidate the short-term bearish outlook and could attract new buyers. It's important to note that the market is closely watching the Bank of Canada (BoC) interest rate decision today, with expectations of a 0.5% cut, reducing the rate from 3.75% to 3.25%. This could weaken the CAD, favoring an increase in EUR/CAD. Conversely, if the cut is smaller than anticipated (e.g., 0.25%) or does not occur, it may accelerate the pair's downward movement, given that sellers are already in control. In Summary The EUR/CAD is at a critical juncture, facing strong technical resistance at 1.4900 and showing signs of rejection at the 61.8% Fibonacci level. The likelihood of a decline strengthens, especially if the price closes below 1.4870, with target levels at 1.4645 (the 23.6% Fibonacci). However, traders should also consider the alternative scenario of breaking the recent high and advancing to 1.5170. Close monitoring of price action and the BoC announcement is essential for making informed trading decisions, as this could significantly impact the pair's direction. Disclaimer 74% of retail investor accounts lose money when trading CFDs with this provider. Consider whether you understand how CFDs work and if you can afford the high risk of losing your money. Past performance is not indicative of future results. Investment values may fluctuate, and you may not recover your initial investment. This content is not intended for residents of the UK.
There is very little to see here. Bitcoin can correct as low as $74,000 with it being a non event. That would be in line with previous bull market corrections. I am NOT expecting that, to be clear, but Bitcoin consolidating in the 90Ks is nothing to be concerned about.
GER40 - 24h expiry Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. Daily signals for sentiment are at overbought extremes. A higher correction is expected. A break of the recent low at 20259 should result in a further move lower. Rallies should be capped by yesterday's high. We look to Sell a break of 20245 (stop at 20365) Our profit targets will be 19945 and 19845 Resistance: 20396 / 20474 / 20600 Support: 20259 / 20200 / 20119 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
US stock index futures were little-changed in early trade this morning. This follows a second successive negative close for all the four US majors last night, although these losses were, like Monday’s, relatively modest. Overall, US equities are experiencing a slight loss of upside momentum. This should not be much of a surprise considering the extent of the Russell-led rally since Trump’s decisive election victory in early November. The rally took the Dow, S&P, NASDAQ and Russell 2000 to fresh records. While the former three had made a succession of record highs throughout this year, the Russell had struggled to keep up. But in the aftermath of Trump’s win, the domestically-focused, small-cap index added 11% in the space of three weeks to take it above its previous all-time high from November 2021. But it now feels as if equities are coming off the boil. The Russell 2000 was the first to turn lower, with downside pressure dominating from early December. It was followed by the Dow just a few days later, and now the S&P and NASDAQ have joined in this week. Despite this, all four major indices remain within spitting distance of their respective all-time highs. So, the question remains: have US equities already topped for this year, or will they experience a resumption of the rally into the New Year? Much could depend on today’s inflation update and how that plays into next week’s interest rate decision from the Federal Reserve’s FOMC. The latest CPI reading comes out this afternoon. The year-on-year Core rate is expected to keep steady at 3.3% year-on-year, while the Headline CPI is forecast to tick up to 2.7% from 2.6% previously. Anything above this seems likely to rattle investors as it would be seen as an obstacle to the Fed for cutting rates at next week’s meeting. By every measure, inflation is still above the Fed’s 2% target. But worse than that, all inflation measures have lost their downside momentum. That’s not to say that inflation is about to take off to the upside again, just that it makes it harder for the Fed to justify further cuts. That, in turn, removes a significant tailwind to equity markets. Despite this, investor confidence remains high, perhaps showing some complacency. The VIX (a key measure of stock market volatility) has fallen back to lows last seen just after this summer’s volatility blow-out. With all the major indices still near record highs, and given the lack of a significant pullback since the summer, perhaps it would be sensible to trim some exposure. But as things stand, most investors are positioned for a positive run into the holidays.
Gold (XAU/USD) is trading at $2,695, showing consolidation within a tight range after recent bullish momentum. Today's Consumer Price Index (CPI) data release is likely to influence this technical setup significantly. Here’s a detailed view of the current scenario: Technical Setup: Key Resistance Levels: $2,708: A significant resistance level, highlighted as a critical decision area. A break above this level might open the door for further bullish movement. $2,710: Represents the upper boundary of the highlighted zone, potentially marking exhaustion for buyers. Key Support Levels: $2,692: Immediate support that has held up during recent dips, maintaining the bullish structure. $2,687: A deeper support level, marking a potential stop-loss zone for buyers. Price Action: Gold is currently trading near $2,695 , forming a small consolidation pattern. This could be seen as the market waiting for a catalyst, which CPI data is likely to provide. Risk-Reward Setup: A long position above $2,695 with stops below $2,687 targets $2,708-$2,710 for a potential breakout. How CPI Affects Gold Technically: Higher CPI (Above Expectations): Signals inflationary pressure, which may lead to higher interest rate expectations. This often strengthens the U.S. Dollar, exerting downward pressure on gold. Gold could test support levels ($2,692-$2,687) as selling intensifies. Lower CPI (Below Expectations): Eases inflation fears, reducing the need for aggressive rate hikes. This scenario weakens the Dollar, making gold more attractive. A breakout above $2,708 could extend towards $2,710 and beyond. Expected CPI (In Line with Forecasts): Market could remain choppy and range-bound between $2,692-$2,708 as traders digest the data. Trading Plan: Bullish Scenario: Buy above $2,696 if gold breaks resistance at $2,708 with confirmation. Target: $2,710+ Stop-Loss: Below $2,692. Bearish Scenario: Sell below $2,692 if CPI data strengthens the USD. Target: $2,687 and lower. Stop-Loss: Above $2,696. Conclusion: Today's CPI data is a critical event for gold traders. A decisive break of the $2,692-$2,708 range will set the tone for the next directional move. Stay alert and manage risk effectively as volatility is expected to spike post-announcement.
Hello guys, eigen have cup and handle, Tp is 8 ready for it
Head and Shoulder can be seen forming in the shorter time frames since the start of December. I'd be hesitant opening any long in this area without a test of the neckline and a confirmation/reaction.
GBPJPY Analyse work perfectly like anticiped ! So now after a huge move of 500 pips, we may look for Sell soon.... keep in eye on it, it may move really fast down