The market is currently testing the current Weekly area. Based on Daily AND 4HR TF, the market seems to be forming a possible reversal pattern which could lead to a possible BUYING OPPORTUNITY. We could see BUYERS coming in strong should the current level hold. Disclaimer: Please be advised that the information presented on TradingView is solely intended for educational and informational purposes only.The analysis provided is based on my own view of the market. Please be reminded that you are solely responsible for the trading decisions on your account. High-Risk Warning Trading in foreign exchange on margin entails high risk and is not suitable for all investors. Past performance does not guarantee future results. In this case, the high degree of leverage can act both against you and in your favor.
Here on Audusd price has form a supply around level of 0.62010 and is likely to fall more so trader should go for short and expect profit target of 0.61684 with stoploss of 0.62090 . Use money management
GBPUSD is bumping into the support of the local descending channel after a rather strong fall. The fundamental background has changed a bit, which in general gives a chance to the forex market https://www.tradingview.com/x/tf14u1Ir/ On the weekly chart the price is testing the strong level of 1.211 against which a double bottom is formed on a global scale. But this does not indicate a change in the global trend, no, it is just a hint of a possible rebound, but we need to watch the price reaction to this area. The PPI that was released yesterday slightly disappointed dollar buyers, which supported the forex market and we see a small correction. CPI is ahead, which may also support the market Resistance levels: 1.2217, 1.235, 1.2488 Support levels: 1.213 If the bulls keep the price above the nearest resistance at 1.2217, it will give the price a chance to strengthen to the nearest resistance or to the channel resistance. Regards R. Linda!
Hello Traders ! The Dogecoin price formed a double bottom pattern. Currently, The neckline is broken ! So, I expect a bullish move? ______________ TARGET: 0.37470?
support 5850 RSI above 40 on daily basis RSI above 60 Weekly / Monthly Expected level 6285 / 6522 / 6788 IT Sector positive note due TCS result
Nikkei 225 was ranging in an ascending triangle which, by itself, is a bullish setup. However, the odds of this setup breaking up is not high (last I remember, it's about 66% but please don't quote me or ask me to verify). Now we are focused on 2 facts: 1. It has broken down from the lower trendline, and 2. price was rejected at the broken trendline. What this means is that the breakdown from the ascending triangle is real and not a fake breakout. And what this also means is that Nikkei is now in a downtrend. Likely we are going to see a crash coming.
I expect a retaicement to 2678 from 2 levels 1) 2682 2) 2686
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Prior to the upcoming Cpi news, $0.3000 stuck me like a very good area for a sell, but i can't help but imagine the levels of liquidity that lays above that reigon, so the next level traget will be 50pips up at 0.03500 . my profit target is 0.1100
Today is CPI day, and technical analysis often falters on major news days. Nevertheless, here's our take on the US Tech 100: we anticipate a potential drop of 800-1,000 points. December's Fed comments triggered a selloff, with bears dominating the index for weeks. The strong downward momentum aligns with Death Cross patterns—short-term moving averages crossing below long-term ones, a classic sell signal. We’re also monitoring a Descending Triangle pattern. If the price breaks below the support line, theory suggests a drop equal to the triangle’s height. Adding weight to this bearish view, the price recently tested, broke, and closed below the crucial 61.2% Fibonacci retracement level. A break below this level often signals a trend reversal rather than a correction. Based on these setups, we foresee the US100 dropping to 20,000 or lower. However, if CPI data comes in below expectations, all this could change, and the index may spike north by 400-600 points.