Market Update by Solidecn.com - Page 3
Malaysia Forex Forum | Forex Community Place
Malaysia Forex Forum
Page 3 of 127 FirstFirst 1 2 3 4 5 13 53 103 ... LastLast
Results 21 to 30 of 1268

Thread: Market Update by Solidecn.com

  1. Senior Member
    Join Date
    Oct 2022
    Posts
    1,252
    Thanks
    1
    Thanked 1,828 Times in 602 Posts
    SubscribeSubscribe
    Subscribed 0
    GBP/USD Tests Key Support Amid Divergence Signals



    The GBP/USD currency pair dipped from the 1.280 high today and is currently testing the $1.275 immediate support. This support level is reinforced by the middle band of the Bollinger Bands and the May 22 high.


    • The Awesome Oscillator signals divergence, indicating a potential trend reversal or consolidation.
    • The RSI indicator reads 56, approaching the 50 line, suggesting that the upward momentum is weakening.


    From a technical standpoint, while indicators suggest a bearish trend might be imminent, the price remains above the ascending trendline. For the primary bullish trend to continue, the price must maintain its position above this trendline. If this occurs, the bulls' first target is 1.280, and with increased buying pressure, the price could move towards $1.289.

    Conversely, if the GBP/USD price falls below the immediate support at 1.274, it will likely test the 1.267 support, followed by the $1.263 level.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  2. Senior Member
    Join Date
    Oct 2022
    Posts
    1,252
    Thanks
    1
    Thanked 1,828 Times in 602 Posts
    SubscribeSubscribe
    Subscribed 0
    USD/CHF Eyes Bullish Reversal Above Key Resistance


    Solid ECN​—The USD/CHF currency pair bounced from the 38.2% Fibonacci support level at $0.909. As of writing, the pair is targeting the 23.6% Fibonacci level at $0.911. The RSI value is increasing and moving away from the oversold area, indicating that the market trend could shift from a bearish to a bullish market. However, the bulls must overcome the $0.911 barrier.

    From a technical standpoint, for the trend to reverse, the price must close and stabilize above $0.911. If this scenario unfolds, the next bullish target will be the middle band of the Bollinger.

    On the flip side, if the price fails to close above the immediate resistance, the downtrend that began on May 23 will likely resume, initially testing the $0.909 level.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  3. Senior Member
    Join Date
    Oct 2022
    Posts
    1,252
    Thanks
    1
    Thanked 1,828 Times in 602 Posts
    SubscribeSubscribe
    Subscribed 0
    NZD/USD - Entry Points and Bullish Targets



    Solid ECN—The NZD/USD currency pair broke above the immediate support at 0.6139, and as of writing, it is trading at approximately at 0.616. The RSI indicator is becoming overbought, indicating that the uptrend might ease, and the market will likely experience a consolidation phase.

    From a technical standpoint, the overbought RSI could lead the U.S. Dollar to erase some of its recent losses. Hence, if the price dips to the ascending trendline, this level around 0.613 can provide a decent entry point to join the bullish momentum. In this scenario, the next bullish target should be set at 0.621.

    Conversely, if the NZD/USD dips below the ascending trendline, the initial support level will be 0.608, followed by the secondary support level at 0.603.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  4. Senior Member
    Join Date
    Oct 2022
    Posts
    1,252
    Thanks
    1
    Thanked 1,828 Times in 602 Posts
    SubscribeSubscribe
    Subscribed 0
    Pound Sterling Soars: Technical Analysis of GBP/USD


    Solid ECN—The GBP/USD currency pair broke above the 1.276 immediate resistance in today's trading session. This development in the pound sterling drove the relative strength index indicator into the overbought area, signifying that the market might reverse or initiate a consolidation phase.

    From a technical standpoint, the road to 1.28 is paved, but for the bulls to achieve this target, the price must maintain its position above the ascending trendline.

    The bullish outlook will be invalidated if the GBP/USD price drops below the ascending trendline. 1.267 is the next support level in this scenario, followed by 1.263.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  5. Senior Member
    Join Date
    Oct 2022
    Posts
    1,252
    Thanks
    1
    Thanked 1,828 Times in 602 Posts
    SubscribeSubscribe
    Subscribed 0
    Silver Analysis


    The silver price became overbought after the bulls hit the $31 high. Subsequently, the chart formed a long-wick bearish candlestick pattern, which led to the price entering a consolidation phase. As of writing, the pair is testing the Ichimoku cloud as support, maintaining its position above the 25-day simple moving average.

    From a technical standpoint, the primary trend is bullish, and the 23.6% Fibonacci level offers a decent opportunity to join the bull market. Another option to join the bullish market is to wait for a breakout above the immediate resistance at $31.8. If this scenario continues, the next bullish target will be $32.5.

    Conversely, the bullish outlook should be canceled if the silver price dips below the 25-day SMA. In this case, the dip that began today could extend to the 38.2% Fibonacci level at $30.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  6. Senior Member
    Join Date
    Oct 2022
    Posts
    1,252
    Thanks
    1
    Thanked 1,828 Times in 602 Posts
    SubscribeSubscribe
    Subscribed 0
    USD/CAD Breaks Below Key Fibonacci Levels


    Solid ECN—USD/CAD broke below the 61.8% Fibonacci level today, and as of writing, the pair trades at approximately 1.363 CAD. The current bearish momentum will likely target the 78.6% Fibonacci level at 1.362 CAD.

    Bullish traders should wait for signs of a reversal or consolidation phase at the 78.6% Fibonacci level. If the selling pressure exceeds this level, the next bearish target will be the May low of 1.358 CAD.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  7. Senior Member
    Join Date
    Oct 2022
    Posts
    1,252
    Thanks
    1
    Thanked 1,828 Times in 602 Posts
    SubscribeSubscribe
    Subscribed 0
    Will AUD/USD Break Out? Key Levels to Watch



    Solid ECN —AUD/USD resumed its uptrend after hitting the ascending trendline at $0.659. As of writing, the pair is trading inside the symmetrical triangle, testing the upper line at $0.664.

    The technical indicators suggest a resumption of the uptrend. Therefore, if the bulls manage to close and stabilize the price above the immediate resistance at $0.664, the next bullish target could be $0.668.

    On the flip side, if the price remains inside the wedge pattern, it will likely float sideways to the apex, targeting the ascending trendline again.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  8. Senior Member
    Join Date
    Oct 2022
    Posts
    1,252
    Thanks
    1
    Thanked 1,828 Times in 602 Posts
    SubscribeSubscribe
    Subscribed 0
    GBP/USD Faces Resistance: Market Outlook


    Solid ECN—The GBP/USD currency pair trades in an uptrend, facing the $1.276 immediate resistance. The Stochastic oscillator (14.3.3) suggests an overbought market. Therefore, the pound sterling might lose ground against the U.S. Dollar. The ascending trendline supports the current bullish wave, while the Awesome Oscillator indicates a divergence.

    However, the trend hasn't reversed, and it seems the divergence signal refers to a consolidation phase. The market is still overbought, and we do not suggest going long in this market situation.

    From a technical standpoint, the uptrend will likely escalate if the bulls cross above the immediate resistance at 1.276. If this scenario occurs, the road to the next significant support at $1.289 can be paved.

    On the other hand, if the bears cross below the ascending trendline (in red), the price could dip to the key support at $1.263. This level provides a decent bid for bullish traders to reevaluate the market. Therefore, it is recommended that traders wait for the GBP/USD to either break out or dip to the key support before joining the market, either as a bull or as a bear.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  9. Senior Member
    Join Date
    Oct 2022
    Posts
    1,252
    Thanks
    1
    Thanked 1,828 Times in 602 Posts
    SubscribeSubscribe
    Subscribed 0
    EURUSD's Bearish Flag and Potential Reversals


    Solid ECN—The EURUSD currency pair trades in a bearish flag near the upper band. At the time of writing, the bears are keeping the price below the 50% Fibonacci level at $1.084. Interestingly, the 4-hour chart has formed an inverted hammer, suggesting that the downtrend may resume.

    The technical indicators suggest a neutral market, with awesome oscillator bars small and clinging to the zero line and the RSI indicator moving sideways alongside the 50 line.

    From a technical standpoint, the immediate support is the 61.8% Fibonacci retracement level at 1.086. If the exchange rate remains below this level, the downtrend that began in May is likely to extend with an initial target at the middle Bollinger band, followed by the 23.6% Fibonacci level at $1.082.

    Conversely, if the bulls close and stabilize the price above the immediate support at 1.086, the bullish wave that began last week could target the 78.6% Fibonacci at 1.087, followed by the May all-time high at 1.089.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  10. Senior Member
    Join Date
    Oct 2022
    Posts
    1,252
    Thanks
    1
    Thanked 1,828 Times in 602 Posts
    SubscribeSubscribe
    Subscribed 0
    Gold Falls Below $2,353: Bearish Momentum and Key Levels


    Solid ECN—The XAG/USD fell below $2,353 in today's trading session. Currently, gold is trading around $2,338, retracing to test the former support level as new resistance. From a technical standpoint, the gold price dip was anticipated due to a clear divergence signal from the Awesome Oscillator. The bearish momentum has eased today due to Friday's lower trading volumes.

    If XAG/USD stays below the immediate resistance at $2,353, the decline will likely extend to the EMA 50, followed by April's all-time low at $2,276.

    Conversely, if bulls push the price above the immediate resistance, the uptrend is expected to resume, targeting $2,450.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •