Daily analysis by FXOpen

[Farabot]

Gold Price Could Dip While Crude Oil Price Trades In Range

Gold price is struggling to stay above the $1,925 support. Crude oil price is facing a strong resistance near the $82 zone.

Important Takeaways for Gold and Oil

• Gold price started a strong increase and tested $1,950 against the US Dollar.
  
• There is a key bullish trend line forming with support near $1,925 on the hourly chart of gold.
  
• Crude oil price started a fresh increase from the $79.50 support zone.
  
• There is a major bullish trend line forming with support near $80.40 on the hourly chart of XTI/USD.

Gold Price Technical Analysis

Gold price formed a base above the $1,900 level against the US Dollar. The price started a strong increase above the $1,915 and $1,920 resistance levels to move into a positive zone.

The bulls even pumped the price above the $1,940 and the 50 hourly simple moving average. The price even tested the $1,950 zone. A high is formed near $1,949 on FXOpen and the price is now correcting gains.

Gold Price Hourly Chart

There was a move below the $1,940 level and the 50 hourly simple moving average. The price even dipped below the $1,920 level before the bulls appeared.

Recently, there was a recovery wave above the 23.6% Fib retracement level of the downward move from the $1,949 swing high to $1,918 low. However, the bears are active below the $1,935 level and the 50 hourly simple moving average.

The price failed to clear the 50% Fib retracement level of the downward move from the $1,949 swing high to $1,918 low. It is now moving lower below $1,930.

An immediate support on the downside is near the $1,925 level. There is also a key bullish trend line forming with support near $1,925 on the hourly chart of gold. The next major support is near the $1,915 level, below which there is a risk of a larger decline. In the stated case, the price could decline sharply towards the $1,900 support zone.

On the upside, the first major resistance is near the $1,930 level. The next key hurdle is near the $1,935 level, above which it could even test $1,950. A clear upside break above the $1,950 resistance could send the price towards $1,965.

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[Farabot]

GBP/USD and GBP/JPY Could Resume Increase

GBP/USD is consolidating gains pace above the 1.2350 zone. GBP/JPY is also rising and might gain pace if it clears the 161.80 resistance zone.

Important Takeaways for GBP/USD and GBP/JPY

• The British Pound is showing positive signs above 1.2350 against the US Dollar.
  
• There is a key contracting triangle forming with resistance near 1.2400 on the hourly chart of GBP/USD.
  
• GBP/JPY started a fresh increase above the 160.00 resistance zone.
  
• There is a major bullish trend line forming with support near 160.90 on the hourly chart.

GBP/USD Technical Analysis

This past week, the British Pound found support near the 1.2280 zone against the US Dollar. The GBP/USD pair formed a base and started a steady increase above the 1.23200 level.

There was a clear move above the 1.2350 resistance and the 50 hourly simple moving average. The pair even cleared the 1.2400 resistance. A high is formed near 1.2418 on FXOpen and the pair corrected lower.

GBP/USD Hourly Chart

There was a move below the 1.2380 level, but the bulls were active near the 1.2345. The pair is now rising and trading above the 50% Fib retracement level of the recent decline from the 1.2418 swing high to 1.2345 low.

An immediate resistance on the upside is near the 1.2400 level. There is also a key contracting triangle forming with resistance near 1.2400 on the hourly chart of GBP/USD.

The triangle resistance is near the 76.4% key contracting triangle forming with resistance near 1.2400 on the hourly chart of GBP/USD. The next major resistance is near the 1.2420 level, above which the pair could start a steady increase towards 1.2450.

An upside break above 1.2450 might start a fresh increase towards 1.2550. Any more gains might call for a move towards 1.2600 or even 1.2640.

An immediate support is near the 1.2380. The next major support is near the 1.2350 level. If there is a break below the 1.2350 support, the pair could test the 1.2280 support. Any more losses might send GBP/USD towards 1.2220.

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[Farabot]

BTCUSD and XRPUSD Technical Analysis – 31st JAN 2023

BTCUSD: Double Bottom Pattern Above $22396

Bitcoin continues its bullish momentum from last week and after touching a low of $22396 on 25th Jan, the prices started to correct upwards against the US dollar and are now ranging above the $22500 handle in the European trading session today.

We have seen a bullish opening of the markets this week.

We can clearly see a double bottom pattern above the $22396 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday low of 22543 in the Asian trading session and an intraday high of 22992 in the European trading session today.

The price of bitcoin is ranging near a new record high of 1 month.

We can see the formation of a bullish harami and bullish harami cross pattern in the daily time frame.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

We have also detected a bullish doji star pattern in the 30-minute time frame indicating bullish trends.

The relative strength index is at 56.23 indicating a strong demand for bitcoin, and the continuation of the buying pressure in the markets.

Bitcoin is now moving below its 100 hourly simple moving average and above its 100 hourly exponential moving averages.

Most of the major technical indicators are giving a buy signal, which means that in the immediate short term, we are expecting targets of 23000 and 24500.

The average true range is indicating high market volatility with a mildly bullish momentum.

• Bitcoin: bullish continuation seen above $22396
• The commodity channel index is indicating a neutral level
• The price is now trading just below its pivot level of $22884
• The short-term range is mildly bullish

Bitcoin: Bullish Continuation Seen Above $22396

The price of bitcoin witnessed a downwards correction after touching $23926 as the target of $24K was rejected by the bulls. Now the markets are ranging into a consolidation channel above the $22500 handle.

After the consolidation phase is over, we are expecting upside moves in the range of $23500 to $24000 levels.

The resistance of the channel is broken in the 15-minute time frame.

We can see the formation of a bullish trend reversal pattern with the moving average MA20 in the 15-minute time frame.

The immediate short-term outlook for bitcoin is mildly bullish, the medium-term outlook has turned bullish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $20780 at which the price crosses 9-day moving average stalls, and at $21091 which is a 38.2% retracement from a 4-week high.

The price of BTCUSD is now facing its classic resistance level of 22928 and Fibonacci resistance level of 22950 after which the path towards 23000 will get cleared.

In the last 24hrs BTCUSD has decreased by 1.85% by 432.62$ and has a 24hr trading volume of USD 25.925 billion. We can see a decrease of 5.10% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

Bitcoin has reached its highest level this month at $23956 which is a positive sign after the harsh crypto winter season seen last year.

The daily RSI is printing at 69.281 which indicates a very strong demand for bitcoin and the continuation of the bullish phase present in the markets in the short-term range.

We can see the formation of a bullish trend line from $22396 towards the $23983 level.

The price of BTCUSD is now facing its resistance zone located at $23098 which is a pivot point, and at $23527 which is a 3-10 day MACD oscillator stalls.

The weekly outlook is projected at $24000 with a consolidation zone of $23500.

Technical Indicators:

The moving averages convergence divergence (12,26): is at 1256.90 indicating a BUY

The ultimate oscillator: is at 52.29 indicating a BUY

The rate of price change : is at 8.37 indicating a BUY

Bull/bear power (13): is at 856.36 indicating a BUY

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[Farabot]

EUR/USD and EUR/JPY At Risk of Fresh Decline

EUR/USD is facing resistance near the 1.0880 zone. EUR/JPY is also facing hurdles and remains at a risk of a downward move below 141.00.

Important Takeaways for EUR/USD and EUR/JPY

• The Euro started a fresh increase from the 1.0800 zone.
  
• There is a key bearish trend line forming with resistance near 1.0895 on the hourly chart.
  
• EUR/JPY started a steady increase after it found support near the 140.75.
  
• There is a connecting bearish trend line forming with resistance near 141.65 on the hourly chart.

EUR/USD Technical Analysis

The Euro formed a base above the 1.0800 zone and started a decent increase against the US Dollar. The EUR/USD pair was able to clear the 1.0820 and 1.0840 resistance levels.

There was a clear move above the 1.0850 level and the 50 hourly simple moving average. The pair even climbed above the 50% Fib retracement level of the downward move from the 1.0913 swing high to 1.0802 low (formed on FXOpen).

EUR/USD Hourly Chart

However, the pair struggled to stay above the 1.0865 level and the 50 hourly simple moving average. It failed to clear the 61.8% Fib retracement level of the downward move from the 1.0913 swing high to 1.0802 low.

On the downside, the pair might find support near the 1.0840 level. The next major support sits near the 1.0825 level, below which the pair could even test the 1.0800 support zone.

If there is a downside break below the 1.0800 support, the pair might accelerate lower in the coming sessions. In the stated case, it could even test 1.0725. On the upside, an immediate resistance is near the 1.0870 level. There is also a key bearish trend line forming with resistance near 1.0895 on the hourly chart.

The next major resistance is near the 1.0920 level. A clear move above the 1.0920 resistance might send the price towards 1.0950. If the bulls remain in action, the pair could visit the 1.1050 resistance zone in the near term.

Sumber...

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[Farabot]

ETHUSD and LTCUSD Technical Analysis – 02nd FEB, 2023

ETHUSD: Three White Soldiers Pattern Above $1535

Ethereum was unable to sustain its bearish momentum and after touching a low of 1535 on 30th Jan, the price started to correct upwards against the US dollar crossing the $1650 handle today in the Asian trading session.

After touching a high of $1694 the prices have retracted due to profit taking by the medium-term investors.

We have seen a bullish opening of the markets this week.

We can clearly see a three white soldiers pattern above the $1535 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just below its pivot level of 1665 and moving into a strong bullish channel. The price of ETHUSD is now testing its classic resistance level of 1668 and Fibonacci resistance level of 1673 after which the path towards 1700 will get cleared.

We have also seen the formation of a Bullish engulfing line in the weekly time frame.

The price of Ethereum is ranging near the support of the channel in the 15-minute time frame indicating a bullish scenario.

The relative strength index is at 68.86 indicating a strong demand for Ether and the continuation of the buying pressure in the markets.

The Williams percent range is indicating an overbought market, which means that the price is expected to decline in the short-term range.

Most of the technical indicators are giving a strong buy market signal.

Most of the moving averages are giving a strong buy signal at the current market level of $1666.

ETH is now trading above both the 100 hourly simple and 100 hourly exponential moving averages.

• Ether: bullish reversal seen above the $1535 mark
• Short-term range appears to be strongly bullish
• ETH continues to remain above the $1650 level
• The average true range is indicating less market volatility

Ether: Bullish Reversal Seen Above $1535

ETHUSD continues to trade higher against the US dollar and bitcoin. The price of Ethereum remains supported above the $1600 level and now we are testing the break of the $1700 handle.

We can see the formation of a B=bullish price crossover pattern with adaptive moving average AMA20 in the weekly time frame.

The momentum indicator is back over zero in the daily time frame indicating bullish trends.

We have also detected the formation of a bullish harami pattern in the 4-hour time frame.

ETHUSD touched an intraday low of 1633 and an intradayhHigh of 1694 in the Asian trading session today.

The STOCHRSI is indicating an oversold level, which indicates that the prices will continue to rise in the medium-term range.

The key support levels to watch are $1594 which is a 14-3 day raw stochastic at 50%, and $1637 at which the price crosses 9-day moving average stalls.

ETH has increased by 5.88% with a price change of 92.60$ in the past 24hrs and has a trading volume of 9.958 billion USD.

We can see an increase of 60.00% in the total trading volume in the last 24 hrs which is due to heavy buying seen at lower levels.

The Week Ahead

ETH has already made a failed attempt to cross the $1700 level by touching $1694 today. Now we are expecting a retest of the $1700 breach after which the next targets are located at $1800 and $1900 levels.

At present, the prices are moving in a consolidation channel above the $1650 level.

We can see the formation of a bullish ascending channel from $1535 towards the $1684 level.

The immediate short-term outlook for Ether has turned strongly bullish, the medium-term outlook has turned bullish, and the long-term outlook for Ether is neutral in present market conditions.

The resistance zone is located at $1701 which is the pivot point 2nd resistance level and at $1868 which is a 14-day RSI at 80%.

The weekly outlook is projected at $1800 with a consolidation zone of $1750.

Technical Indicators:

The relative strength index, RSI (14): is at 68.86 indicating a BUY

The moving average convergence divergence, MACD (12,26): is at 21.75 indicating a BUY

The average directional index: is at 23.83 indicating a BUY

The rate of price change: is at 22.11 indicating a BUY

Sumber...

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[Farabot]

AUD/USD and NZD/USD Signals Downside Extension

AUD/USD is correcting gains from the 0.7150 resistance zone. NZD/USD is also declining and reaching an important support at 0.6450.

Important Takeaways for AUD/USD and NZD/USD

• The Aussie Dollar started a fresh decline from the 0.7150 resistance against the US Dollar.
  
• There was a break below a key bullish trend line with support near 0.7080 on the hourly chart of AUD/USD.
  
• NZD/USD also started a downside correction after it failed to clear 0.6540.
  
• There is a connecting bullish trend line forming with support near 0.6440 on the hourly chart of NZD/USD.

AUD/USD Technical Analysis

The Aussie Dollar gained pace above the 0.7100 resistance zone against the US Dollar. The AUD/USD pair even spiked above the 0.7150 level before the bears appeared.

The pair traded as high as 0.7157 on FXOpen and started a fresh downside correction. There was a clear move below the 0.7120 and 0.7100 support levels. The pair declined below the 50% Fib retracement level of the upward move from the 0.6983 swing low to 0.7157 high.

AUD/USD Hourly Chart

Besides, there was a break below a key bullish trend line with support near 0.7080 on the hourly chart of AUD/USD. The pair is now trading below 0.7080 and the 50 hourly simple moving average.

On the downside, an initial support is near the 0.7050 level. It is near the 61.8% Fib retracement level of the upward move from the 0.6983 swing low to 0.7157 high. The next support could be the 0.7000 level. If there is a downside break below the 0.7000 support, the pair could extend its decline towards the 0.6940 level.

On the upside, the AUD/USD pair is facing resistance near the 0.7080 level. The next major resistance is near the 0.7100 level.

A close above the 0.7100 level could start another steady increase in the near term. The next major resistance could be 0.7150.

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[abedjaber1971]

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[Farabot]

GBP/USD Drops Sharply While EUR/GBP Gains Momentum

GBP/USD started a fresh decline below the 1.2200 support zone. EUR/GBP is rising and trading above the 0.8920 support zone.

Important Takeaways for GBP/USD and EUR/GBP

• The British Pound started a fresh decline from the 1.2400 resistance against the US Dollar.
  
• There is a key bearish trend line forming with resistance near 1.2120 on the hourly chart of GBP/USD.
  
• EUR/GBP started a steady increase above the 0.8900 and 0.8920 levels.
  
• There is a major bullish trend line forming with support near 0.8945 on the hourly chart.

GBP/USD Technical Analysis
The British Pound started a major decline from well above the 1.2350 level against the US Dollar. The GBP/USD pair gained pace below the 1.2300 level to move into a bearish zone.

There was a clear move below the 1.2200 level and the 50 hourly simple moving average. The bears even pumped the price below the 1.2120 level and a low is formed near 1.2031 on FXOpen. It is now consolidating losses and trading below the 1.2100 level.

GBP/USD Hourly Chart
On the upside, an initial resistance is near the 1.2100 level. The first major resistance is near the 1.2120 level. It is close to the 23.6% Fib retracement level of the downward move from the 1.2400 swing high to 1.2031 low.

There is also a key bearish trend line forming with resistance near 1.2120 on the hourly chart of GBP/USD. A clear move above the 1.2120 level could spark a decent increase.

The next major resistance sits near the 1.2215 level or the 50% Fib retracement level of the downward move from the 1.2400 swing high to 1.2031 low. Any more gains might send the pair towards the 1.2250 resistance zone.

On the downside, an initial support is near the 1.2030 level. The next major support is near the 1.2000 level. Any more losses could lead the pair towards the 1.1920 support zone.

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[Farabot]

BTCUSD and XRPUSD Technical Analysis – 07th FEB 2023

BTCUSD – Bullish Harami Pattern Above $22658

Bitcoin continues its bullish momentum from last week and after touching a low of $22658 on 07th Feb, the prices started to correct upwards against the US Dollar and are now ranging above the $23000 handle in the European trading session today.

The price is back over the Pivot point in the daily timeframe indicating bullish trends.

We can clearly see a bullish Harami pattern above the $22658 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday low of 22658 in the Asian trading session and an intraday high of 23037 in the European trading session today.

The momentum indicator is back over zero in the 4-hourly timeframe indicating a bullish scenario.

The MACD indicator is giving a bullish divergence signal in the 1-hourly timeframe.

Both the STOCH and STOCHRSI are indicating overbought levels which means that in the immediate short-term a decline in the prices is expected.

The RSI indicator is back over 50 in both the 30-minutes and 1-hourly timeframe indicating bullish trends.

Relative strength index is at 58.15 indicating a strong demand for Bitcoin, and the continuation of the buying pressure in the markets.

Bitcoin is now moving below its 100 hourly Simple Moving average and below its 100 hourly Exponential Moving averages.

Most of the major technical indicators are giving a BUY signal, which means that in the immediate shor-term we are expecting targets of 23500 and 24500.

Average true range is indicating less market volatility with a mild bullish momentum.

• Bitcoin bullish continuation seen above $22658.
• The Williams percent range is indicating an overbought level.
• The price is now trading just above its Pivot levels of $22887.
• Short-term range is mild bullish.

Bitcoin Bullish Continuation Seen Above $22658

The prices of Bitcoin witnessed a downwards correction after crossing the $24000 levels. Now the markets are ranging into a consolidation channel above the $22500 handle.

After the consolidation phase is over, we are expecting upside moves in the range of $23500 to $24500 levels.

We can see the formation of a bullish price crossover pattern with the Adaptive Moving average AMA20 in both the 30-minutes and 1-hourly timeframes.

The immediate short-term outlook for Bitcoin is mild bullish, medium-term outlook has turned as bullish, and the long-term outlook remains neutral under present market conditions.

Bitcoin support zone is located at $22342 which is a 14-3 Day Raw Stochastic at 50% and at $22581 which is a 3-10 Day MACD Oscillator Stalls.

The price of BTCUSD is now facing its classic resistance levels of 23053 and Fibonacci resistance levels of 23352 after which the path towards 23500 will get cleared.

In the last 24hrs BTCUSD has increased by 0.84% by 190.97$ and has a 24hr trading volume of USD 24.800 Billion. We can see an increase of 13.07% in the trading volume as compared to yesterday, which appears to be normal.

The Week Ahead

Bitcoin has reached its highest levels this month at $24209 which was last seen on 20th Aug, 2022. We are now looking to cross the $25000 levels this month.

Daily RSI is printing at 62.55 which indicates a very strong demand for Bitcoin and the continuation of the bullish phase present in the markets in the short-term range.

We can see the formation of a bullish trendline from $22658 towards the $24118 levels.

The prices of BTCUSD are now facing its resistance zone located at $23406 which is a 14-Day RSI at 70% and at $23594 at which the price crosses 9-Day Moving Average Stalls.

Weekly outlook is projected at $25000 with a consolidation zone of $24000.

Technical Indicators:

Moving Averages Convergence Divergence (12,26): It is at 2.60 indicating a BUY.

Ultimate Oscillator: It is at 57.18 indicating a BUY.

Rate of Price Change: It is at 0.226 indicating a BUY.

Bull/Bear Power (13): It is at 175.73 indicating a BUY.

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[Farabot]

EUR/USD Reverses Gains While USD/JPY Aims Higher

EUR/USD is correcting lower and trading below 1.0800. USD/JPY is rising and might aim more upsides if it stays above the 130.20 support.

Important Takeaways for EUR/USD and USD/JPY

• The Euro started a downside correction from the 1.1035 resistance zone.
  
• There is a key bearish trend line forming with resistance near 1.0750 on the hourly chart of EUR/USD.
  
• USD/JPY is attempting a fresh increase above the 131.00 support zone.
  
• There was a break above a major contracting triangle with resistance near 130.00 on the hourly chart.

EUR/USD Technical Analysis

This past week, the Euro gained pace above the 1.0950 resistance against the US Dollar. The EUR/USD pair even broke the 1.1000 and 1.1020 resistance levels.

However, the pair failed to surpass the 1.1035 level. A high was formed near 1.1033 and the pair started a fresh decline. There was a clear move below the 1.0950 support zone and the 50 hourly simple moving average.

EUR/USD Hourly Chart
The pair even broke the 1.0850 support level. A low is formed near 1.0670 on FXOpen and the pair is now correcting losses. There was a move above the 1.0700 level.

On the upside, an immediate resistance is near the 1.0750 level. There is also a key bearish trend line forming with resistance near 1.0750 on the hourly chart of EUR/USD. The trend line is close to the 23.6% Fib retracement level of the downward move from the 1.1033 swing high to 1.0670 low.

The next major resistance is near the 1.0800 level. An upside break above 1.0800 could set the pace for another increase. In the stated case, the pair might visit 1.0850 or the 50% Fib retracement level of the downward move from the 1.1033 swing high to 1.0670 low.

Any more gains might send the pair towards 1.0920. If not, it could continue to move down. An initial support on the downside is near the 1.0700 level. The first major support is near the 1.0670 level.

The main support sits near the 1.0650 zone, below which the pair could start a major decline. In the stated case, the pair might dive towards the 1.0520 support zone.

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[Farabot]

#MarketNews #Gold

#MarketNew #Gas

NATURAL GAS PRICES ARE NEARING NEW LOWS OF THE YEAR

The approaching spring after a warm winter, increased supply amid geopolitical risks that are losing influence — all this has led to the fact that natural gas futures prices are around $2.37 per contract, the lowest level since December 2020.

The Energy Information Administration (EIA) sharply lowered its forecast for US natural gas prices this week. According to the forecast, prices in 2023 are likely to average $3.40 (30% below the forecast published 1 month ago). For 2024, the EIA cut its natural gas price forecast by 15.8% to $4.04.

The current price is well below the forecasts, but the downtrend is still in place. Please note that trading volumes show high values, which indicates the activity of large market participants; they may be accumulating a long position in the expectation that prices will rise to the average forecast values in the long term.

To take advantage of fluctuations in natural gas prices, consider enlisting the services of a reliable broker like FXOpen. (http://fxopen.com/)

CFDs are complex instruments and come with a high risk of losing your money.

This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.


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[Farabot]

Gold Price Turns Red And Crude Oil Price Could Correct Gains

Gold price is moving lower and trading below $1,880. Crude oil price is facing a strong resistance near the $79 zone and might correct lower.

Important Takeaways for Gold and Oil

• Gold price started a strong decline below the $1,900 level against the US Dollar.
  
• It traded below a key rising channel with support near $1,872 on the hourly chart of gold.
  
• Crude oil price started a fresh increase from the $72.50 support zone.
  
• There is a connecting trend line forming with resistance near $79.10 on the hourly chart of XTI/USD.

Gold Price Technical Analysis

Gold price struggled to stay above the $1,950 level against the US Dollar. The price started a strong decline and traded below the $1,920 support zone.

The bears even pushed the price below $1,900 and the 50 hourly simple moving average. Recently, there was a break below a key rising channel with support near $1,872 on the hourly chart of gold. The price traded below the $1,865 level.

Gold Price Hourly Chart

A low is formed near $1,859 on FXOpen and the price is now consolidating losses. On the upside, an immediate resistance is near the $1,870 level.

The stated level is near the 23.6% Fib retracement level of the downward move from the $1,890 swing high to $1,859 low. The next key hurdle is near the $1,875 level or the 50 hourly simple moving average.

The 50% Fib retracement level of the downward move from the $1,890 swing high to $1,859 low is also near the $1,875 level. A clear upside break above the $1,875 resistance could send the price towards $1,890.

An immediate support on the downside is near the $1,858 level. The next major support is near the $1,850 level, below which there is a risk of a larger decline. In the stated case, the price could decline sharply towards the $1,832 support zone.

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[Farabot]

GBP/USD Could Extend Losses, USD/CAD Breaks Key Support

GBP/USD is showing bearish signs below the 1.2150 resistance. USD/CAD traded below the 1.3400 support, which might now act as a resistance.

Important Takeaways for GBP/USD and USD/CAD

• The British Pound started a fresh decline from the 1.2200 resistance zone.
  
• There is a key bearish trend line forming with resistance near 1.2065 on the hourly chart of GBP/USD.
  
• USD/CAD is struggling below the 1.3420 and 1.3400 support levels.
  
• There was a break below a connecting bullish trend line with support near 1.3380 on the hourly chart.

GBP/USD Technical Analysis

The British Pound started a fresh decline from well above 1.2400 against the US Dollar. The GBP/USD pair gained bearish momentum after there was a break below the 1.2250 support.

The pair even broke the 1.2150 support level and the 50 hourly simple moving average. The recent swing high was formed near 1.2193 on FXOpen before the price started another decline. There was a move below the 50% Fib retracement level of the upward move from the 1.1961 swing low to 1.2193 high.

GBP/USD Hourly Chart
It is now trading below 1.2050 and the 50 hourly simple moving average. There is also a key bearish trend line forming with resistance near 1.2065 on the hourly chart of GBP/USD.

An immediate resistance is near the 1.2060 level. The next major resistance is near the 1.2100 level and the 50 hourly simple moving average. Any more gains could lead the pair towards the 1.2200 barrier in the near term.

If not, the pair could continue to move down and might even break the 1.2040 support. The next major support is near 1.2000 or the 76.4% Fib retracement level of the upward move from the 1.1961 swing low to 1.2193 high.

If there is a downside break, GBP/USD might test the 1.1960 support. The next major support sits at 1.1850, where the bulls might take a stand.

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BTCUSD and XRPUSD Technical Analysis – 14th FEB 2023

BTCUSD: The Evening Star Pattern Below $23432

Bitcoin was unable to sustain its bullish momentum last week and after touching a high of $22432 started to decline against the US dollar, touching a low of $21450 on 13th Feb.

We have seen a bearish opening of the markets this week.

We can clearly see the evening star pattern below the $23432 handle which is a bearish reversal pattern because it signifies the end of an uptrend and a shift towards a downtrend.

Bitcoin touched an intraday high of 21839 in the Asian trading session and an intraday low of 21683 in the European trading session today.

We can see the formation of a three black crows pattern in the weekly time frame indicating bearish trends.

The Ichimoku price is under the cloud in the 2-hour time frame indicating bearish trends.

Both the STOCH and Williams percent range are indicating overbought levels which means that in the immediate short term a decline in the prices is expected.

The RSI indicator is back under 50 in the 2-hour time frame indicating the bearish nature of the markets.

The relative strength index is at 48.77 indicating a NEUTRAL demand for bitcoin, and the shift towards the consolidation phase in the markets.

Bitcoin is now moving below its 100 hourly simple moving average and below its 100 hourly exponential moving averages.

Some of the major technical indicators are giving a SELL signal, which means that in the immediate short term, we are expecting targets of 21000 and 20500.

The average true range is indicating LESS market volatility with a mildly bearish momentum.

• Bitcoin: bearish reversal seen below $23432.
• The commodity channel index is indicating a NEUTRAL level.
• The price is now trading just below its pivot levels of $21764.
• The short-term range is mildly bearish.

Bitcoin: Bearish Reversal Seen Below $23432

The price of Bitcoin was unable to cross the $24K mark last week, and we can see a continuous fall in the levels now trading below the $22K handle.

As some of the technical indicators are also giving a neutral stance of the markets, we are expecting that a bullish reversal is possible after touching the $20500 level.

We have also detected the formation of bearish engulfing lines in the 30-minute time frame.

The MACD crosses down its moving average in the 15-minute time frame indicating the bearish nature of the markets.

We can see the formation of a bearish price crossover pattern with the adaptive moving average AMA20 in both the 30-minute and 2-hour time frames.

The immediate short-term outlook for bitcoin is mildly bearish, the medium-term outlook has turned bearish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $20027 at which the price crosses the 40-day moving average, and at $20937 at which the price crosses the 18-day moving average stalls.

The price of BTCUSD is now facing its classic support level of 21703 and Fibonacci support level of 21502 after which the path towards 21000 will get cleared.

In the last 24hrs BTCUSD has increased by 0.57% by 122.76$ and has a 24hr trading volume of USD 21.364 billion. We can see an increase of 0.42% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

Bitcoin is now facing the extended crypto winter due to which the prices are unable to rise above the $25000 level.

We are now heading towards the $21500 level this week.

The daily RSI is printing at 47.08 which indicates a NEUTRAL demand for bitcoin and the continuation of the bearish phase present in the markets in the short-term range.

We can see the formation of a bearish trend line from $23432 towards the $21576 level.

The price of BTCUSD is now facing its support zone located at $20884 which is a 38.2% retracement from a 13-week high.

The weekly outlook is projected at $21000 with a consolidation zone of $20500.

Technical Indicators:

The average directional index (14): It is at 28.57 indicating a SELL.

The ultimate oscillator: It is at 39.72 indicating a SELL.

The rate of price change: It is at -5.67 indicating a SELL.

Bull/bear power (13): It is at -1085.58 indicating a SELL.

Sumber...

Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.

 

[Farabot]

EUR/USD Could Extend Losses While USD/CHF Aims Higher

EUR/USD is facing a strong resistance near the 1.0800 zone. USD/CHF is rising and might aim a clear move above the 0.9240 resistance zone.

Important Takeaways for EUR/USD and USD/CHF

• The Euro started a fresh decline from the 1.0800 resistance against the US Dollar.
  
• There is a key bearish trend line forming with resistance near 1.0750 on the hourly chart of EUR/USD.
  
• USD/CHF started a fresh increase above the 0.9200 resistance zone.
  
• There is a major bearish trend line forming with resistance near 0.9240 on the hourly chart.

EUR/USD Technical Analysis

After testing the 1.0650 support zone, the Euro started a steady increase against the US Dollar. The EUR/USD pair gained pace above the 1.0700 level to move into a bullish zone.

The pair even climbed above the 1.0750 resistance and settled above the 50 hourly simple moving average. However, the bears were active near the 1.0800 resistance. It traded as high as 1.0804 on FXOpen and recently started a downside correction.

EUR/USD Hourly Chart
There was a move below the 1.0750 level. There was a clear move below the 50% Fib retracement level of the upward move from the 1.0655 swing low to 1.0804 high.

It is now trading above 1.0700 and the 50 hourly simple moving average. On the downside, an immediate support is near the 1.0710 level. It is near the 61.8% Fib retracement level of the upward move from the 1.0655 swing low to 1.0804 high.

The next major support is near the 1.0690 level. A downside break below the 1.0690 support could start another decline towards the 1.0650 level.

An immediate resistance is near the 1.0730 level. The next major resistance is near the 1.0750 level. There is also a key bearish trend line forming with resistance near 1.0750 on the hourly chart of EUR/USD.

A clear move above the 1.0750 resistance zone could set the pace for a larger increase towards 1.0800. The next major resistance is near the 1.0850 zone.

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AUD/USD and NZD/USD At Risk of More Losses

AUD/USD is moving lower below the 0.6880 support zone. NZD/USD is also declining and might accelerate lower below the 0.6220 support.

Important Takeaways for AUD/USD and NZD/USD

• The Aussie Dollar started a fresh decline from the 0.7000 resistance against the US Dollar.
  
• There is a key bearish trend line forming with resistance near 0.6880 on the hourly chart of AUD/USD.
  
• NZD/USD also started a fresh decline below the 0.6285 support zone.
  
• There is a major bearish trend line forming with resistance near 0.6260 on the hourly chart of NZD/USD.

AUD/USD Technical Analysis

The Aussie Dollar struggled to clear the key 0.7000 resistance zone against the US Dollar. The AUD/USD pair even spiked above the 0.7000 level before the bears appeared.

The pair traded as high as 0.7028 on FXOpen and started a fresh decline. There was a clear move below the 0.6920 and 0.6880 support levels. Recently, the pair declined below the 50% Fib retracement level of the recovery wave from the 0.6840 swing low to 0.6906 high.

AUD/USD Hourly Chart
The pair is now trading below 0.6860 and the 50 hourly simple moving average. There is also a key bearish trend line forming with resistance near 0.6880 on the hourly chart of AUD/USD.

It is trading just below the 76.4% Fib retracement level of the recovery wave from the 0.6840 swing low to 0.6906 high. On the downside, an initial support is near the 0.6840 level. The next support could be the 0.6800 level.

If there is a downside break below the 0.6800 support, the pair could extend its decline towards the 0.670 level. On the upside, the AUD/USD pair is facing resistance near the 0.6880 level. The next major resistance is near the 0.6920 level.

A close above the 0.6920 level could start another steady increase in the near term. The next major resistance could be 0.7000.

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GBP/USD Eyes Recovery While GBP/JPY Could Rise Further

GBP/USD is attempting a recovery wave above the 1.2000 resistance. GBP/JPY could rise further unless there is a downside break below the 160.50 support.

Important Takeaways for GBP/USD and GBP/JPY

• The British Pound is slowly moving higher above 1.2000 against the US Dollar.
  
• There was a break above a key bearish trend line with resistance near 1.1970 on the hourly chart of GBP/USD.
  
• GBP/JPY started a fresh increase above the 160.00 resistance zone.
  
• There was a break above a key bearish trend line with resistance near 161.10 on the hourly chart.

GBP/USD Technical Analysis

This past week, the British Pound extended its decline below the 1.2000 support against the US Dollar. The GBP/USD pair even traded below the 1.1950 level and traded towards 1.1920.

The pair traded as low as 1.1912 on FXOpen and recently started a minor upside correction. There was a clear move above the 1.1950 resistance and the 50 hourly simple moving average. The pair even cleared the 23.6% Fib retracement level of the downward move from the 1.2268 swing high to 1.1915 low.

GBP/USD Hourly Chart

It is now trading near the 1.2020 zone. An immediate resistance on the upside is near the 1.2050 level. It is near the 50% Fib retracement level of the downward move from the 1.2268 swing high to 1.1915 low.

The next major resistance is near the 1.2100 level, above which the pair could start a steady increase towards 1.2150. An upside break above 1.2150 might start a fresh increase towards 1.2200. Any more gains might call for a move towards 1.2250 or even 1.2320.

An immediate support is near the 1.2000 and the 50 hourly simple moving average. The next major support is near the 1.1950 level. If there is a break below the 1.1950 support, the pair could test the 1.1910 support. Any more losses might send GBP/USD towards 1.1840.

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BTCUSD and XRPUSD Technical Analysis – 21st FEB 2023

BTCUSD: Three WHITE Soldiers Pattern Above $22079

Bitcoin was unable to sustain its bearish momentum last week and after touching a low of $22079 the price started to correct upwards against the US dollar, touching a high of $25093 today in the Asian trading session.

We have seen a bullish opening of the markets this week.

We can clearly see the three white soldiers pattern above the $22079 handle which is a bullish reversal pattern because it signifies the end of a downtrend and a shift towards an uptrend.

Bitcoin touched an intraday low of 24681 and an intraday high of 25093 in the Asian trading session today.

We can see that the MACD indicator is back over zero in the weekly time frame indicating bullish trends.

We can see a bullish price crossover with moving average MA50 in the weekly time frame indicating bullish trends.

Both the STOCH and STOCHRSI are indicating overbought levels which means that in the immediate short term, a decline in the prices is expected.

The resistance of the channel is broken in the daily time frame indicating a bullish scenario.

The relative strength index is at 62.08 indicating a STRONG demand for bitcoin, and the continuation of the buying pressure in the markets.

Bitcoin is now moving above its 100 hourly simple moving average and above its 100 hourly exponential moving averages.

Most of the major technical indicators are giving a buy signal, which means that in the immediate short term, we are expecting targets of 25000 and 27500.

The average true range is indicating less market volatility with a strong bullish momentum.

• Bitcoin: Bullish reversal seen above $22079.
• The Williams percent range is giving an overbought signal.
• The price is now trading just below its pivot level of $25005.
• The short-term range is strongly BULLISH.

Bitcoin: Bullish Reversal Seen Above $22079

The price of bitcoin is marching ahead of the $25000 levels amid improving consumer sentiments and a shift towards a high demand market.

The momentum indicator is back over zero in the 15-minute time frame indicating a bullish outlook.

The MACD crosses up its moving average in the 15-minute time frame.

We can see that the prices have entered into a supper bullish zone and now we are heading towards the $26000 and $27500 levels.

The immediate short-term outlook for bitcoin is strongly bullish, the medium-term outlook has turned bullish, and the long-term outlook remains neutral under present market conditions.

Bitcoin’s support zone is located at $23074 at which the price crosses 18-day moving average stalls, and $23315 which is a pivot point 2nd support point.

The price of BTCUSD is now facing its classic resistance level of 25077 and Fibonacci resistance level of 25120 after which the path towards 26000 will get cleared.

In the last 24hrs, BTCUSD has increased by 2.14% by 524.45$ and has a 24hr trading volume of USD 27.875 billion. We can see a decrease of 2.34% in the trading volume compared to yesterday, which appears to be normal.

The Week Ahead

Bitcoin needs to continue its bullish moves this week, which will further validate the end of the crypto winter and the start of a bullish run for Bitcoin which was long overdue.

There is an ascending channel forming with the current support at $23165 at which the price crosses the 18-day moving average.

The daily RSI is printing at 66.97 which indicates a VERY STRONG demand for bitcoin and the continuation of the bullish phase present in the markets in the short-term range.

We can see the formation of a bullish trend line from $22079 towards the $25265 level.

The price of BTCUSD is now facing its resistance zone located at $25890 which is a pivot point 2nd resistance level and $26017 which is a 3-10 day MACD oscillator stalls.

The weekly outlook is projected at $27000 with a consolidation zone of $26000.

Technical Indicators:

The average directional index (14): is at 32.84 indicating a BUY.

The ultimate oscillator: is at 53.92 indicating a BUY.

The rate of price change: is at 0.979 indicating a BUY.

Bull/bear power (13): is at 204.85 indicating a BUY.

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Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.

 

[Farabot]

EUR/USD Turns Red While EUR/JPY Could Rally Further

EUR/USD is struggling below the 1.0700 resistance zone. EUR/JPY is rising and might rally further if it clears the 144.20 resistance zone.

Important Takeaways for EUR/USD and EUR/JPY

• The Euro started a fresh decline below the 1.0700 support zone.
  
• There is a key bearish trend line forming with resistance near 1.0670 on the hourly chart.
  
• EUR/JPY started a steady increase after it found support near the 141.50.
  
• There is a major rising channel forming with support near 143.50 on the hourly chart.

EUR/USD Technical Analysis

The Euro struggled to clear the 1.0800 zone and started a fresh decline against the US Dollar. The EUR/USD pair declined below the 1.0740 support to enter a bearish zone.

There was a clear move below the 1.0700 level and the 50 hourly simple moving average. The pair even declined below the 1.0650 level before correcting a few points. The recent low was formed near 1.0637 on FXOpen and the pair is now correcting higher.

EUR/USD Hourly Chart

On the upside, an immediate resistance is near the 1.0670 level. There is also a key bearish trend line forming with resistance near 1.0670 on the hourly chart.

The trend line is near the 50% Fib retracement level of the recent decline from the 1.0698 swing high to 1.0637 low. The 50 hourly simple moving average is also near the 1.0670 resistance zone. The next major resistance is near the 1.0685 level.

The 76.4% Fib retracement level of the recent decline from the 1.0698 swing high to 1.0637 low is also near 1.0685. The main resistance is near 1.0700. A clear move above the 1.0700 resistance might send the price towards 1.0750. If the bulls remain in action, the pair could visit the 1.0800 resistance zone in the near term.

On the downside, the pair might find support near the 1.0635 level. The next major support sits near the 1.0610 level, below which the pair could even test the 1.0565 support zone.

If there is a downside break below the 1.0565 support, the pair might accelerate lower in the coming sessions. In the stated case, it could even test 1.0520.

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Analisis Teknis EURUSD dan BTCUSD – 23 Februari 2023

ETHUSD: Pola Palu Di Atas $1596

Ethereum tidak dapat mempertahankan momentum bearishnya dan setelah menyentuh titik terendah 1596 pada 22 Februari, harga mulai terkoreksi ke atas terhadap dolar AS melintasi pegangan $1650 hari ini di sesi perdagangan Eropa.

Kami telah melihat pembukaan pasar yang bullish minggu ini.

Kita dapat dengan jelas melihat pola hammer di atas pegangan $1596 yang merupakan pola bullish dan menandakan akhir dari fase bearish dan dimulainya fase bullish di pasar.

ETH sekarang diperdagangkan tepat di bawah level pivotnya di 1666 dan bergerak ke saluran yang agak bullish. Harga ETHUSD sekarang menguji level resistensi klasiknya di 1669 dan level resistensi Fibonacci di 1671 setelah itu jalur menuju 1700 akan dibersihkan.

Indeks kekuatan relatif berada di 61,93 menunjukkan permintaan yang kuat untuk Ether dan berlanjutnya fase bullish di pasar.

Kita bisa melihat pembentukan garis bullish engulfing pada time frame daily.

Baik STOCH maupun STOCHRSI mengindikasikan pasar overbought, yang berarti harga diperkirakan akan turun dalam kisaran jangka pendek.

Sebagian besar indikator teknis memberikan sinyal pasar beli yang kuat.

Sebagian besar rata-rata bergerak memberikan sinyal beli yang kuat, dan kita sekarang melihat level $1700 hingga $1750 dalam kisaran jangka pendek.

ETH sekarang diperdagangkan di atas rata-rata pergerakan sederhana dan eksponensial 100 & 200 jam.

• Ether: pembalikan bullish terlihat di atas $1596.
• Kisaran jangka pendek tampaknya sangat bullish.
• ETH terus berada di atas level $1650.
• Kisaran sebenarnya rata-rata menunjukkan lebih sedikit volatilitas pasar.

Ether: Bullish Reversal Terlihat Di Atas $1596

ETHUSD sekarang bergerak dalam saluran yang sangat bullish dengan harga diperdagangkan di atas $1650 di sesi perdagangan Eropa hari ini.

ETH menyentuh intraday low 1637 dan intraday high 1678 di sesi perdagangan Asia hari ini.

Resistensi horizontal ditembus dalam kerangka waktu harian, menunjukkan tren bullish.

MACD memotong rata-rata pergerakannya dalam kerangka waktu 4 jam yang menunjukkan sifat pasar yang bullish.

Ichimoku – crossover bullish: Pola Tenkan dan Kjiun terlihat yang merupakan indikasi bullish pasar.

Harga Ichimoku berada di atas awan dalam kerangka waktu 1 jam menunjukkan skenario bullish.

Indikator Aroon memberikan tren bullish dalam kerangka waktu 15 menit.

Level support utama yang harus diperhatikan adalah $1603 yang merupakan retracement 50% dari tertinggi/terendah 4 minggu, dan $1631 di mana harga melintasi rata-rata pergerakan 9 hari.

ETH telah meningkat sebesar 1,84% dengan perubahan harga sebesar $30,19 dalam 24 jam terakhir dan memiliki volume perdagangan sebesar 8,818 miliar USD.

Kami dapat melihat peningkatan sebesar 1,15% dalam total volume perdagangan dalam 24 jam terakhir yang tampaknya normal.

Minggu Depan

Harga ETH terus berada di zona bullish terhadap dolar AS dan bitcoin. ETHUSD diperkirakan akan bergerak lebih tinggi menuju level $1700 dan $1800 minggu ini.

Di sisi atas, kita sekarang melihat target terdekat di 1724 yang merupakan titik pivot level resistance ke-3, dan 1741 yang merupakan level tertinggi 13 minggu.

Prospek jangka pendek langsung untuk Ether telah berubah menjadi sangat bullish, prospek jangka menengah telah berubah menjadi bullish, dan prospek jangka panjang untuk Ether netral dalam kondisi pasar saat ini.

Harga ETHUSD harus tetap di atas level dukungan penting $1628 yang merupakan titik pivot.

Prospek mingguan diproyeksikan pada $1800 dengan zona konsolidasi $1750.

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