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Descending Channel

GOLD → The market is waiting for NFP. What could happen?FX:XAUUSD is bouncing off resistance at 3310, confirming the upper limit of the new trading range. The dollar continues to rally, but the market as a whole is stagnating ahead of upcoming news—NFP is coming up! Gold is consolidating at monthly lows around $3268, awaiting key US labor market data (NFP). Trump's new tariffs (10% globally, 35% for Canada, 39% for Switzerland) have boosted demand for the dollar, putting pressure on gold. Markets are waiting for NFP: forecast +110K jobs, unemployment 4.2%. Weak data (<100K) → gold may rise to $3400. Strong (>150K) → the dollar will strengthen, gold will continue to fall. The probability of a Fed rate cut in September is <50%. Based on yesterday's data, I would cautiously suggest that NFP will be in the range of 125K–145K, slightly above the consensus (110K). This will play into Trump's hands (I think you understand what I mean...). Resistance levels: 3300, 3310, 3320 Support levels: 3287, 3268, 3255 The news has a negative nuance — unpredictability. Be careful. Technically, based on the data we have at the moment, I would assume that the market may test resistance at 3300-3310 before a possible pullback to the specified support. BUT! Unpredictable data could turn the game around, and in that case, if the dollar falls, gold could start to rise. Best regards, R. Linda!
FX:XAUUSDShort
by RLinda
17
GOLD → Retest of resistance within a bearish runFX:XAUUSD breaks through the upward trend support amid a rallying dollar. Since the opening of the session, the price has been testing the zone of interest, but bears are quite aggressive... Gold is partially recovering after falling to $3,268, a monthly low caused by the Fed's hawkish tone. The Central Bank kept its rate at 4.25–4.5% (9 votes to 2), highlighting uncertainty due to Trump's tariffs. Markets now estimate the probability of the rate remaining unchanged in September at 58% (previously 35%). The dollar's rise slowed amid concerns about the extension of the US-China trade truce and profit-taking ahead of key US employment data (after strong ADP and GDP reports). The nearest drivers are labor market statistics and trade news, while the technical picture for gold remains bearish. Technically, on D1, the price is breaking key support zones, including the trend line, which overall only increases selling pressure on the metals market... Resistance levels: 3310, 3320, 3334 Support levels: 3287, 3267, 3255 As part of the correction, the price has exhausted the entire daily ATR, forming a retest of the liquidity and interest zone. If the bears keep the price below 3320-3310, gold may head towards support... Best regards, R. Linda!
FX:XAUUSDShort
by RLinda
24
BITCOIN → Correction within a downward channel. 112K or 125K?BINANCE:BTCUSDT is consolidating. However, a local downward trading range is forming relative to the current setup. What is the probability of a correction continuing to 112K or growth to 125K? Daily structure: a local correctional channel within a global bullish trend. We have cascading resistance at 119.2, 119.6, 120, and 120.8. It will be quite difficult to break through this zone on the first attempt, but MM can use it to form traps and collect liquidity. At the bottom, everything is simpler — a breakdown of the local bullish structure, the formation of an intermediate minimum, below which there is a void down to 112K. Yesterday, relative to 115-116K, mm staged a massacre (trap) on both sides of the market. Liquidity collection, return to the range, and growth. The reaction to the false breakdown of support is quite strong. Since the opening of the session, Bitcoin has been heading towards resistance, but there may not be enough potential to break through the upper resistance conglomerate, so I expect to see a pullback or decline to 116-115-114. Resistance levels: 119.2, 120.1, 120.85 Support levels: 116.37, 115.67, 112 Technically and fundamentally, I do not see any drivers that could support the market (I am talking about Bitcoin, since the driver for altcoins is the decline in Bitcoin's dominance). It is possible that this may appear later. In the current situation, I am considering a false breakout and correction, as the market has not yet finished consolidating or correcting, and the current downward trading range may be extended. PS: As the price moves towards resistance, it is necessary to monitor the reaction. The market itself will show what it is preparing for... Best regards, R. Linda!
Short
by RLinda
30
USDCHF → The resistance retest ended with a false breakoutFX:USDCHF tested resistance at 0.805 - 0.806 and formed a false breakout without the possibility of continuing growth. The global trend is downward... Against the backdrop of the dollar's growth (reaction to news), the currency pair also moved to distribution to 0.8050. The price failed to break through resistance, forming a false breakout. USDCHF is consolidating below resistance, and a breakdown of the local structure could trigger a decline. The dollar index is also facing fairly strong resistance and may continue its downward trend, which will also affect the decline in the USDCHF price. Resistance levels: 0.805, 0.806, 0.81 Support levels: 0.800, 0.794, 0.791 If, within the current consolidation, the price begins to fall and break the local structure, then we can expect the decline to continue towards the specified targets! Best regards, R. Linda!
Short
by RLinda
3
UUE - Potential hit All Time High ?UUE - CURRENT PRICE : RM0.870 The downtrend from January 2025 to April 2025 had changed to uptrend after the stock broke out the descending channel. Take note that there was a bullish divergence in MACD before the breakout of channel. ICHIMOKU CLOUD traders may take note that the KIJUN SEN is rising steadily and CHIKOU SPAN also moving above candlesticks - indicating stock is uptrending. Today's closing price is higher than previous day's close suggesting a bullish breakout buy signal. A close below the KIJUN SEN may indicate a trend reversal (KIJUN SEN acts as support level). ENTRY PRICE : RM0.865 - RM0.870 TARGET PRICE : RM0.930 , RM0.965 and RM1.03 SUPPORT : KIJUN SEN (cutloss if price close below KIJUN SEN)
MYX:UUELong
by IMRAN_96
GBPUSD → Retest of previously broken resistance...FX:GBPUSD has entered a correction phase after breaking through the local downtrend. If the price remains in the 1.3450–1.346 zone, this will confirm the formation of a new trading range... The market is entering a correction phase due to the dollar. A countertrend retest of the support zone is forming. Earlier, the currency pair broke the local trend and is entering a flat phase. The retest of support may end with a recovery. If, within the local movement and after a false breakout of the 1.345 - 1.3467 zone, the bulls keep the price above the buying zone, then in the short and medium term, we can expect growth to continue. Support levels: 1.3467, 1.345 Resistance levels: 1.35, 1.3584 A false breakdown of support at 1.3467 will confirm a change in the local trend (correction). The market may return to the recovery phase of the global trend. Best regards, R. Linda!
Long
by RLinda
8
BTCUSD DROPPED BELOW LOCAL SUPPORTBTCUSD DROPPED BELOW LOCAL SUPPORT📉 Today bitcoin dropped below the level of 116,000.00 on high volume. However, the price didn't go somewhere far downwards and consolidates slightly below this level. Presumably, descending channel may be formed. What is a descending channel? A descending channel is a bearish chart pattern formed by two downward-sloping parallel trendlines connecting lower highs and lower lows in a pair’s price, indicating a consistent downtrend. It shows sellers are in control, with prices declining within a defined range. Here I presume the price to rebound from lower border of the descending channel with possible movement towards upper border slightly below the 120,000.00 level.
COINBASE:BTCUSDShort
by ProfessorSingapore
BTCUSD CONSOLIDATES BEFORE NEXT HIKE BTCUSD CONSOLIDATES BEFORE NEXT HIKE📈 Bitcoin has been under buying pressure since the beginning of July 9. Since July 14 the price has been consolidating. Now the graph represents the bullish pennant. I expect the price to continue trading sideways for some time, then rebound from the trendline and move towards first major liquidation level at 127,400.00. What is a liquidation Level? The price at which a crypto exchange forcibly closes a leveraged position when margin falls below the required level, recovering borrowed funds.
CAPITALCOM:BTCUSDLong
by ProfessorSingapore
EURUSD FOUND SUPPORT, READY TO BREAK THE CHANNELEURUSD FOUND SUPPORT, READY TO BREAK THE CHANNEL🔥 EURUSD has been trading within the descending channel since the beginning of the descending channel. Recently the price reached the major trendline, graph started to show the bullish divergence on the RSI . What is a bullish divergence? A technical analysis pattern where the price makes lower lows, but a momentum indicator (e.g., RSI, MACD) forms higher lows, signaling weakening bearish momentum and a potential trend reversal upward. So, another hike in this pair is expected. Possible direction: spike towards the SMA200, minor pullback and a further development of the bullish impulse.
Long
by ProfessorSingapore
1
GBPUSD → Hunting for liquidity before the fallFX:GBPUSD is forming a countertrend correction towards the liquidity zone amid a correction in the dollar. Are there any chances for a trend break? The currency pair is taking advantage of the opportunity to test the trend resistance and consolidation amid the dollar correction. Focus on the nearest resistance level of 1.3467, behind which lies a pool of liquidity relative to the local trend. Based on the overall market sentiment (bearish), a breakout of the 1.3467 resistance could trigger a downward pullback. Resistance levels: 1.3467 Support levels: 1.3370 If, during the retest of the specified liquidity zone, the market is unable to continue its upward movement and the price returns below the level, we will have a chance to catch a decline within the current trend. Best regards, R. Linda!
Short
by RLinda
10
XAUUSD FORMED A BULLISH PENNANT PATTERN-ANOTHER BULLISH IMPULSE?XAUUSD FORMED A BULLISH PENNANT PATTERN - ANOTHER BULLISH IMPULSE?📈 Gold has been under buying pressure since the beginning of the year. Since April 21 the price has been consolidating. Now the graph represents the bullish pennant. What is a bullish pennant? Pennant pattern: Short-term continuation pattern after a sharp price move (flagpole), forming a small symmetrical triangle. Signals trend resumption, lasts 1-3 weeks with declining volume. So, first of all, identify a flagpole and a consolidating triangle. Confirm it with indicators (bullish/bearish divergence). After that you may trade breakout in trend direction (buy bullish, sell bearish) with volume spike. Set your stop-loss below/above the opposite side of pennant. You may set your take-profit at a flagpole height from a breakout. Here we see the divergence on RSI 4-h timeframe. If the price breaks the upper border of the pennant pattern you may open long position.
SAXO:XAUUSDLong
by ProfessorSingapore
GBPCHF → Retest of resistance to the global downtrendFX:GBPCHF is facing resistance from the local trend, which is aligned with the global bearish trend. The trend may continue... A retest of resistance is forming within the global downtrend. As part of the correction, the price is testing the zone of interest and, after a false breakout of 1.7935, is returning to the selling zone. The currency pair is rebounding from the resistance of the local trend, which coincides with the global trend. Consolidation of the price below 1.078 may trigger a continuation of the decline Resistance levels: 1.07932, 1.0823 Support levels: 1.07744, 1.07255 Price consolidation in the selling zone followed by a break of the local structure could strengthen the bearish sentiment, which could trigger a further decline overall. Best regards, R. Linda!
Short
by RLinda
6
US30 Rejection at Channel Resistance US30 is showing a repeated pattern of rejection at the upper boundary of the descending channel. Price has now tapped this trendline for the fourth time, forming a consistent bearish structure. Price rejected again at the top of the descending channel (marked by orange circles) Clear sell setup with stop above the most recent swing high, targeting the lower channel boundary around 44,200, aligning with past demand. Short below 44,685 Target: 44,200 Stop: Above recent highs near 44,913 Risk/Reward: Favourable if structure holds. If this pattern plays out as before, we can expect another push to the downside within the channel. A break and retest of the midline could add extra confirmation. #US30 #DowJones #PriceAction #SellSetup #BearishRejection #ChannelTrading #TechnicalAnalysis
FX:US30Short
by StMartino
ETHUSD - ANOTHER GROWING WEEK ETHUSD - ANOTHER GROWING WEEK✅ ETHUSD has been growing all these days together with a bitcoin. All the news, listed in my previous post for the BTCUSD are also valuable here. Really nice fundamental support, people are purchasing the asset. But what's with technicals? 📊 Compared to the bitcoin, ETHUSD hasn't reached ATH. According to a daily chart (pic 1), the price has been moving sideways since 2021 and a strong resistance is waiting ahead at 4,000.00. However, for now we are good. I bet that during upcoming days the asset will reach this level and rebound from it. Will it break the resistance? I think it is too early to make any conclusions.
CAPITALCOM:ETHUSDLong
by ProfessorSingapore
BTCUSD - GOOD SUPPORT ESTABLISHED?BTCUSD - GOOD SUPPORT ESTABLISHED?📈 Yesterday, after a record-breaking nine-hour House session, U.S. lawmakers passed three major crypto bills: CLARITY Act (294-134), which establishes a market structure for cryptocurrencies, GENIUS Act (308-122) that supports U.S. stablecoin innovation and an Anti-CBDC Surveillance State Act (219-210) that opposes central bank digital currencies. All of this supports crypto and especially Bitcoin. Technically, BTCUSD looks bullish also, establishing a new bullish trend. I expect the ATH at 123,190.30 will be rewritten soon. Where will be the next stop, I've got no idea. To my mind, the best strategy here will be to buy on trend support, then transfer the stop loss at your entry point and sell o local hikes. Stay tuned for the next report! 🔔
CAPITALCOM:BTCUSD
by ProfessorSingapore
BRENT CRUDE OIL FORMED A BEARISH WEDGE. ANOTHER POSSIBLE DECLINEBRENT CRUDE OIL FORMED A BEARISH WEDGE. ANOTHER POSSIBLE DECLINE?📉 USOIL has been trading bullish within the last couple of days, supported by prospects of tighter supply and an improved demand outlook. US crude inventories dropped last week, which indicates firm demand despite the rising output. Still, technically, oil looks bearish. It has formed a bearish wedge and is currently testing the former trendline from below. The most probable scenario is that wee see the bearish impulse towards 6,500.00 with further decline. Another option is that the rise will continue towards 6,900.00 level.
FOREXCOM:USOILShort
by ProfessorSingapore
WEDGE IN XAUUSD, POSSIBLE OUTCOMESWEDGE IN XAUUSD, POSSIBLE OUTCOMES👀 Since the fundamentals didn't influence this asset (I mean yesterdays U.S. PPI report, escalation in the Middle East and Trump's hint on Powell's resignation), let's talk about technicals in gold. XAUUSD primarily trades sideways since the beginning of June. Main support levels are 3,250.00 and 3,300.00. Main resistant levels are 3,375.00 and 3,450.00. Currently the asset trades within a range of 3,300.00 - 3,375.00. Additionally, bullion has formed a bearish wedge since the beginning of July. Right now the price is heading towards lower border of this wedge, where the SMA50 is situated and may act as an additional support here. I see 2 main scenarios for a mid-term here: 1) Break below the wedge, rebound from 3,300.00 support, targeting 3,375.00. 2) Rebound from the wedge’s lower border, show a bearish move to 3,375.00, then drop to 3,300.00. In both cases, I assume the price to stay sideways for a long period of time.
FOREXCOM:XAUUSD
by ProfessorSingapore
EURUSD - BEARISH TREND CONTINUESEURUSD - BEARISH TREND CONTINUES📉 On Tuesday, despite the bullish divergence (highlighted as green on RSI), the price broke through the trendline, formed since the beginning of May. Yesterday this trendline got retested on Bloomberg's rumor that Powell may resign. Currently the price is going through the support level of 1.16000. I see the major way is to go towards 1.15000 support level with a further rebound and possible target of 1.16000. Another option is to go straight towards 1.14000. Will see.
Short
by ProfessorSingapore
U.S. NATURAL GAS - BEARISH DIVERGENCE DETECTED U.S. NATURAL GAS - BEARISH DIVERGENCE DETECTED🕵🏻‍♂️ The Natural gas has been trading bullish for 7 days in a row since last Wednesday, reaching the 3.6000 resistance level. Primarily this happened due to a warm weather in the U.S. states, that supports the demand on gas. Despite warmer-than-normal summer weather, analysts expect energy firms to inject more gas into storage than usual in coming weeks. Record-high output in June, likely to be surpassed in July, and reduced gas flows to LNG export plants since April's peak, support this trend. Technically chart shows us a bearish divergence on 1-h timeframe. I suppose the price to slowly decline towards major support level of 3.0000 with minor rebounds. The 2nd option is the rebound from 3.4000 support level with a first target of 3.6000.
CAPITALCOM:NATURALGASShort
by ProfessorSingapore
2
NATURAL GAS - STILL IN THE GAME TRADING IDEA UPDATE - NATURAL GAS - STILL IN THE GAME🔥 The XNGUSD goes quite well, as predicted. It held the trendline and moving upwards slowly, but surely. Short-term support here is the EMA20 on 4h timeframe. The asset is just below 3.600 resistance level and sma200. Since the July 10, the asset seems to be moving within the ascending channel (pic 2). I expect that the price will break the 3.6000 resistance level, will go towards upper channel border and then, after quick retest, move towards 3.8000. Not a trading advice! Trade cautiously!
CAPITALCOM:NATURALGASLong
by ProfessorSingapore
NZDCHF → Pre-breakdown consolidation on a downtrendFX:NZDCHF is forming a pre-breakout consolidation amid a downtrend. Focus on support at 0.4759. Global and local trends are down... On July 10-11, the currency pair attempted to break out of the trend. In the chart, it looks like a resistance breakout, but technically it was a short squeeze aimed at accumulating liquidity before the fall. We can see that the price quickly returned back and the market is testing the low from which the trap formation began. The risk zone for the market is 0.4759 - 0.475. In simple terms, this is a bull trap against the backdrop of a downtrend. The NZD has passed through the risk zone. At this time, the currency pair is forming a pre-breakout consolidation relative to the support level of 0.4759 with the aim of continuing its decline. Support levels: 0.4759, 0.4753 Resistance levels: 0.477, 0.4782 A breakout of the 0.4759 level and consolidation in the sell zone could trigger a continuation of the decline within the main and local trends. Best regards, R. Linda!
Short
by RLinda
3
EURUSD TRIGGERED STOP LOSSTRADING IDEA UPDATE - EURUSD TRIGGERED STOP LOSS The U.S. CPI report data came out right what the market expected (2.7% vs. 2.7% annually). After this report the pair went downwards on increased volume, triggering my stop loss and found the support only on 4-h sma200 and 1.16000 level. What will be the possible scenario next? I assume that the asset will go testing the trendline at 1.16650. If the test is successful, I will consider opening a 🔽 a pending sell stop order at 1.16651 with ❌a stop loss at 1.18180 and 🤑a take profit at 1.15122 Only if the retest is successful, not earlier! Let's observe first. Additionally, today is the U.S. PPI report coming out at 12:30 p.m. UTC, so got to be careful around this time
Short
by ProfessorSingapore