FxNews.me — Latest Technical & Fundamental Analysis

[FxNews]

Ethereum Eyes $2,480 Break with Double Bottom Pattern



FxNews.me—Ethereum has formed a double bottom pattern and is currently testing the $2,480 resistance level. Meanwhile, the Awesome Oscillator signals divergence with green bars approaching the zero line from below. This development in the price action and the AO indicator suggests that Ethereum’s price has the potential to rise further.

From a technical perspective, the bullish wave could resume if ETH/USD exceeds $2,480. In this scenario, the next bullish target could be the $2,560 resistance level. Conversely, a dip below the $2,380 support would invalidate the bullish outlook.

[FxNews]

Bitcoin Drops Below Key Level: Is $66K the Next Target?




FxNews.me—Bitcoin dipped below the 38.2% Fibonacci retracement level after the price tested the bearish Fair Value Gap in conjunction with the broken trendline. Furthermore, the Awesome Oscillator histogram turned red, hinting at the downtrend strengthening.

From a technical perspective, the next bearish target should be the 50% Fibonacci level at $66,000. Please note that the bearish strategy should be invalidated if BTC/USD exceeds $70,000.

[FxNews]

GBPUSD Bounces from 100-SMA as UK Inflation Nears 2.6%


The GBP/USD primary trend remains bearish as long as the price is below the 38.2% Fibonacci retracement level. If that level holds, the downtrend will likely resume. In this scenario, the GBP/USD pair could target 1.293, followed by 1.287.

[FxNews]

Cardano Bear Trend Deepens if Price Drops Below $0.334



FxNews.me—The immediate support is at $0.334, neighboring the 61.8% Fibonacci retracement level. The Cardano bearish trend would resume if bears (sellers) close and stabilize Solana's price below $0.334. In this scenario, the next bearish target could be the October 28 low at $0.33, followed by $0.327, the 78.6% Fibonacci retracement level.

Please note that the bearish outlook should be invalidated if the price exceeds the 50-period simple moving average of approximately $0.345.

[FxNews]

Euro Faces Pressure: Key Indicators to Watch Now



FxNews.me—The EUR/USD currency pair stabilizes above the 100-period simple moving average and the 1.084 immediate support level. This occurs as Stochastic records show a reading of 82, indicating that the Euro is overpriced in the short term. Additionally, the Awesome Oscillator histogram is red, suggesting that the bear market is strengthening.

From a technical perspective, the bullish outlook remains valid as long as the price holds above the 1.085 support level. In this scenario, the next target could be the 38.2% Fibonacci retracement level at 1.093.

Please note that the bullish outlook should be considered invalid if the price dips below 1.084.

[FxNews]

NZD/USD Dips Below $0.596 Amid Strong Bearish Signals


FxNews.me—The NZD/USD currency pair is in a robust bearish market, closing below the critical $0.596 resistance level today. Furthermore, the bearish breakout caused indicators to signal a sell.

From a technical perspective, the immediate resistance to the current downtrend lies at $0.60, supported by the 50-period simple moving average. The outlook for the NZD/USD trend remains bearish as long as the price stays below $0.60. In this scenario, the next bearish target will likely be the $0.591 support level.

Please note that if NZD/USD exceeds $0.60, the bearish outlook will be invalidated. In this scenario, the price may have the potential to test the 100-SMA at $0.604.

[FxNews]

EUR/USD Tests Key Resistance Trading at 1.087


FxNews.me—The EUR/USD price trades at approximately 1.087, testing the October high as resistance, backed by the 100-period simple moving average.

Concurrently, the Stochastic Oscillator is overpriced, indicating that the Euro is overpriced in the short term. That being said, the Awesome Oscillator recently turned red, suggesting that the bear market is gaining more momentum.


Forecast

From a technical perspective, the downtrend should resume if the immediate resistance at 1.087 holds. In this scenario, EUR/USD is likely to revisit the October low at 1.076. Please note that the bearish outlook should be invalidated if EUR/USD exceeds the 100-period SMA at 1.087. If this scenario unfolds, the rise from 1.076 could extend to 1.095.

[FxNews]

GBP/USD Tests Key Resistance: Will It Break or Retreat?


FxNews—The GBP/USD currency pair broke above the descending trendline, testing the 100-period simple moving average as resistance.

Currently, the market is uncertain. The 4-hour chart formed a long wick bullish and bearish candlestick pattern one after another. Therefore, the next wave depends on whether the price exceeds the primary resistance at $1.304 or falls below the immediate support at $1.293.

On the bullish side, if GBP/USD closes above 1.304, which is backed by the 100-SMA, the consolidation phase has the potential to extend to the next resistance area at 1.311, followed by 1.315.

Conversely, the bearish trend will likely be triggered if bears push the price below the $1.293 support. If this scenario unfolds, the next target could be the $1.287 mark.

[FxNews]

EURUSD Faces Strong Resistance at 1.087


FxNews—The EUR/USD currency pair tested the 100-period simple moving average at approximately 1.087 in today's trading session. This level was backed by Fair Value Gap, making it a robust barrier that can halt the bullish momentum.

Consequently, the price bounced from the 100-period SMA. From a technical standpoint, immediate resistance is at $1.087. If bears maintain a position below that mark, the downtrend will likely revisit $1.076.

Conversely, a cross above the 100-SMA invalidates the bearish outlook.

[FxNews]

Cardano Eyes $0.347 Break as Bulls Take Charge


FxNews.me—Cardano is testing the 100-SMA at $0.347 amid the Stochastic signaling overbought. On the other hand, the Awesome Oscillator indicates that the bull market should prevail, with a green histogram above the signal line.

From a technical perspective, the bullish wave should resume after a minor consolidation below the $0.347 immediate resistance. In this scenario, the next bullish target could be the $0.358 resistance area (FVG) if bulls stabilize the price above the immediate resistance.

Please note that the bullish scenario should be invalidated if ADA/USD falls below the $0.338 immediate support. If this scenario unfolds, a new bearish wave will likely be triggered, targeting $0.33 followed by $0.323.