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SubscribeXRP Faces Bearish Threat Despite Bullish Momentum
FxNews—Ripple (XRP) trades in a bullish channel, but the 4-hour chart has formed a bearish butterfly pattern, which is a sell signal. The MACD value is declining, and the indicator is about to flip below the signal line, meaning the bear market is strengthening.
Additionally, we notice that the recent candle is bearish and closed below the 100-period regression line, meaning the bear market could potentially resume.
Overall, the technical indicators suggest that despite the bullish momentum, XRP/USD could dip to lower support levels.
Forecast
The immediate resistance is at $0.563. The XRP/USD downtrend will likely be triggered if the price closes and stabilizes below $0.563. If this scenario unfolds, the downtrend could extend to the lower band of the bullish channel.
Bullish Scenario
If bulls (buyers) maintain their position above the $0.563 mark, and if they can close beyond the 100-period regression line, the uptrend will likely be triggered. In this scenario, the next bullish target could be retesting $0.597, followed by $0.612.
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EUR/USD Faces Key Resistance at 1.115
FxNews—The EUR/USD currency pair is testing the 1.115 resistance level, in conjunction with the descending trendline. Meanwhile, the Stochastic, RSI (14), and the Awesome Oscillator are declining, suggesting that the bear market is gaining momentum.
However, the price is above the 100-period simple moving average, which is a robust signal for the bull market.
Overall, the technical indicators suggest the primary trend is bullish, but the EUR/USD price could consolidate before the uptrend resumes.
Forecast
The immediate resistance level is at $1.115. The uptrend will likely resume if the bulls close and stabilize the price above $1.115. If this scenario unfolds, the next bullish target will be $1.12.
Bearish Scenario
The immediate support lies at $1.109. If the EUR/USD price dips below $1.109, it could extend to $1.10. Please note, a move above $1.115 will invalidate the bearish strategy.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 Bull Market Faces Crucial Support Test
USD/CAD trades sideways. Meanwhile, the MACD indicator signals divergence while the pair is in a bull market, meaning the trend could potentially reverse.
Forecast
The immediate support level is at 1.356. If the USD/CAD price dips below 1.356, the decline could extend to the next support level at 1.349. Furthermore, if selling pressure breaks below 1.349, the August 2024 low at 1.344 could be tested.
Bullish Scenario
The immediate resistance is at 1.362. If the bulls push and stabilize the price above 1.362, the current upward momentum could potentially extend to 1.369.
Please note, the bull market would be invalidated if the price dips below 1.356.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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FTSE 100 Reaches New High Amid Global Optimism
FxNews—On Tuesday, the FTSE 100 hit around 8,340, its highest since early September, following positive global market trends. Investors focused on the Federal Reserve’s two-day meeting, anticipating a rate cut—the first in over four years. The Bank of England is also meeting this week but is expected to keep interest rates steady.
Focus on UK Inflation Data
UK inflation data, due Wednesday, is key as investors look for signals on future Bank of England policy decisions. This data could influence future interest rate moves.
Kingfisher Leads Stock Gains
Kingfisher shares surged nearly 7% after raising its full-year profit outlook. DS Smith (+3%) and Phoenix Group Holdings (+2.2%) were also among the top gainers.
Flutter Entertainment Acquires Playtech’s Italian Business
Flutter Entertainment agreed to buy Playtech Plc’s Italian gambling business for €2.3 billion ($2.6 billion), marking its latest global expansion.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 Bear Market Explained
FxNews—The immediate resistance is at 140.3, and the market condition is oversold. Hence, it is advisable to wait patiently for the USD/JPY price to consolidate near the upper line of the descending channel, around 143.4.
Furthermore, the downtrend will likely be triggered again if the descending trendline holds. If this scenario unfolds, the next bearish target could be the 137.2 level.
Please note, the bearish market would be invalidated if the USD/JPY price exceeds the 146.8 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.
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NZD/USD Eyes $0.625 Beyond 100 SMA Barrier
FxNews—The New Zealand dollar trades above the Supertrend at around 0.618 against the U.S. dollar. The descending trendline slowed the bullish wave that began at $0.611. The RSI (14) is above the median line, signaling that the market is not overbought and should resume its upward movement. The Awesome Oscillator bars are green, meaning the bull market prevails.
Forecast
The 100-period simple moving average or the descending trendline is the primary barrier for buyers. $0.625 will likely be targeted if the NZD/USD price breaks above the 100 SMA.
On the flip side, a dip below the immediate support at $0.617 will invalidate the bullish market. In this scenario, the New Zealand dollar could dip to the $0.610 support 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.
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WTI Crude Oil Poised for Breakout: Key Levels to Watch
FxNews—WTI Crude Oil has climbed above the 50-period simple moving average, with the Stochastic oscillator moving away from overbought levels, and the most recent bar on the Awesome oscillator turning green.
This developments in the technical indicators suggest the bear market weakens.
Forecast
The immediate resistance stands at $70.5. If the bulls push past this level, the price is likely to fill the 'fair value gap,' aiming for $72.1.
On the downside, a drop below the immediate support at $68.5 could signal a bearish trend. If this occurs, the $65.5 support level may come into play once 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.
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Cardano Tests Key Support: Will the Downtrend Continue?
FxNews.me — Cardano (ADA) is currently testing the immediate support level of $0.33. At the same time, the stochastic oscillator indicates a value of 9, signaling an oversold market condition.
Additionally, the ADA/USD price is trading below both the 50- and 100-period moving averages, confirming that the primary trend remains bearish.
Forecast
From a technical perspective, immediate resistance is at $0.330. If the ADA/USD price rebounds, it could potentially rise to test the $0.349 resistance level before the downtrend resumes.
Conversely, if the price closes and stabilizes below $0.330, it is likely that the downtrend will continue, with a target of $0.304.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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FxNews.me — Latest Technical & Fundamental Analysis
Litecoin Dips: Key Levels to Watch for Bearish Targets
FxNews.me — Litecoin is currently pulling back from a descending trendline and is trading around $64. This bearish movement was anticipated, as both the Stochastic Oscillator and the RSI 14 indicated overbought conditions.
Price Forecast
The immediate support is at $58.5, and bears may aim for this level if the price remains below the key resistance of $67.5. Additionally, if selling pressure pushes the price below $62.25, the next target could be $58.5.
However, this bearish outlook would be invalidated if the LTC/USD price crosses and stabilizes above the $67.5 resistance 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.
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