Market Update by Solidecn.com
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Thread: Market Update by Solidecn.com

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    EUR/USD Analysis: Uptrend and Resistance Insights


    Solid ECN—The EUR/USD currency pair tests the 50-period simple moving average and the 1.0870 immediate support. The technical indicators in the 4-hour chart suggest the primary trend is bullish. However, the pair might be oversold because the Stochastic oscillator hovers below the 20 line.

    The immediate resistance is at 1.090. The uptrend will likely resume if the bulls close a candle and stabilize the price above the immediate resistance. In this scenario, the next bullish target will be the July 17 high at 1.094.

    Conversely, if the bears close below the immediate support at 1.084, the consolidation phase from 1.094 could extend to the next supply area at 1.0844.

    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.


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    Bullish Continuation in USD/JPY?


    Solid ECN—The USD/JPY bounced from the 155.3 mark, testing the 38.2% Fibonacci at 157.8. The technical indicators suggest the bull market should resume. However, for the uptrend to continue, the bulls must overcome the 157.8 barrier. If this scenario unfolds, the pullback from 155.35 could extend to the 50% Fibonacci at 158.5. Furthermore, if the buying pressure exceeds 158.5, the next resistance will be at the 61.8% Fibonacci mark, 159.3.

    Conversely, a dip below the immediate support at 156.8 will end the bullish trend, and sellers could target July's all-time low.

    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.


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    Ethereum's Critical Levels: $3,390 Support, $3,528 Resistance


    Solid ECN
    —Ethereum trades sideways between the immediate support at $3,390 and the immediate resistance at $3,528. As of writing, the ETH/USD pair is testing the 50% Fibonacci level, backed by the ascending trendline.

    The technical indicators suggest the sideways market might resume with mildly bearish tendencies. Interestingly, the 4-hour chart has formed an inverted hammer, signaling a potential trend reversal. That said, if the ETH/USD price closes above the median line of the Donchian channel, the next bullish target will be July's all-time high at $3,528.

    Conversely, a close below the immediate support at $3,390 will likely pause the bull market, and the price could dip to the 38.2% Fibonacci level at $3,253.

    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.


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    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.

    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.


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    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.

    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.


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    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.

    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.


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    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.

    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.


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    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.

    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.


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    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.

    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.


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    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.

    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.


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