Silver´s downside capped by the 25.00 level

Silver´s downside capped by the 25.00 level

Key Support: 25.00 – 24.75
Key Resistance: 26.00 – 26.70

Long Term View
When it comes to metals Silver has the best potential. Gold has already made all time highs but Silver´s all time highs are at the 50 level (April 2011) when it´s trading at around $25 right now.

The $25 level in Silver is the previous key level where we saw buyers jump in back in January 2021 when Silver rallied 20.75% in just 4 days. This level and its rejection at the moment is giving us a high probability buy with good risk to reward to retest the $26 level

1H Chart Analysis
Silver has dipped 7.50% this week, more than its average range from the past 3 weeks and has hit short term bearish targets at the 1.618 of the last leg up.
We can´t be certain if this bullish move is a reversal or a pullback to retest the previous broken support around the $26 level but the overextension of this bearish move points at a possible rally to the 50% from the weekly pivot to the weekly lows.

Our validation level for this trade idea is a break of today´s highs.

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Gold downside capped by March highs

Gold downside capped by March highs

Key Support: 1700 – 1703
Key Resistance: 1757 – 1565

Mid Term View
Since we hit all time highs Gold has declined about 18% in roughly 200 days.

1H Chart Analysis
After moving down and breaking a super important level (1765 – May highs) Gold is sitting back and retesting the next key level, the March 2020 highs at around 1703 whilst printing massive bullish divergence and not making new lows as the DXY makes new highs. All of this whilst retesting the bottom of the mid term structure.

We need to wait for the break of the reversal pattern and the previous highs to jump in long for a run at the weekly pivot and also the 50% retracement of the last move down.

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NZDUSD Overextended at key level

NZDUSD Overextended at key level

Key Resistance: 0.7460
Key Support: 0.7360 – 0.7340 -0.7287

Long Term View
The NZD/USD has been in a massive bull market since the March 2020 lows, up 36.20% or 1979 pips. We have hit a mayor key level now. The last time the NU was trading at these levels was back in February 2018 and at that time price dipped 26.5% for the next 750 days.

1H chart Analysis
Price is overextended here trading inside a very steep bullish structure and now testing the highs of the mid term bullish structure (blue channel).
Price was trading inside of a range before this move and we have hit the calculated breakout targets at the 2.618 of the range. Since the range was in place we have been printing bearish divergence.

Last week´s range was 158 pips and this week´s range is 183 pips. On avg. the NU moves around 135 pips per week so we are above that average weekly range at the top of the move.

This signal was sent to the Swing Trading Signals Channel with modified targets because we are riding a longer term move. If you want to get these targets and trade management you can join here: https://learn2.trade/go-premium

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USD/JPY Retraces After Rejection From Level 106.00

USD/JPY Retraces After Rejection From Level 106.00

Key Resistance Levels: 111.000, 112.000, 113.000
Key Support Levels: 104.000, 103.000, 102.000

USD/JPY Price Long-term Trend: Bullish
The USD/JPY is in an upward move. The uptrend has continued despite a pullback in February. On February 5 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the Yen will rise to level 2.0 Fibonacci extensions or level 108.20 .

USD/JPY – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 66 of the Relative Strength Index period 14. This indicates that the pair is now in the uptrend zone and above the centerline 50. There are chances of further upward movement of the Yen.

USD/JPY Medium-term Trend: Bullish
On the 4-hour chart, the pair is in an upward move. The Yen fell to level 106.21 and resumed consolidation above it. On February 16 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the Yen will rise to level 1.618 Fibonacci extensions or level 106.60.

USD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The USD/JPY pair is currently below the 80% range of the daily stochastic. It indicates that the pair is in a bearish momentum because of the earlier price fall. The SMAs are sloping upward indicating an uptrend.

General Outlook for USD/JPY
In February 9, USD/JPY retraced to level 104.49 and resumed a fresh uptrend. The current trend is struggling to break level 106.00. If the current resistance is breached, the pair will rally to the next target price of 108.21.


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Gold rejects daily high and key fibo level

Gold rejects daily high and key fibo level

Key resistance zone: 1826
Key support zone: 1818

Mid term trend in Gold is bearish
Gold keeps holding a key support level inside of a mid-term bearish structure which gives us opportunities to go short in this metal.
Daily Chart Reading
The short side in Gold should be in play whilst the daily highs and the key resistance zone are not breached. This is why we use stop orders to keep us involved if and only if there is momentum to the downside on our side.
15 minute chart reading
The key 76.4% retracement in this chart that is capping Gold´s move to the upside comes from Monday’s range (1810.70-1830.90) which is important since the oscillator just printed bearish divergence on the 15-minute chart.

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Australia 200 (AU200AUD) Is Consolidating Above Level 6800, May Resume Upward

Australia 200 (AU200AUD) Is Consolidating Above Level 6800, May Resume Upward

Key Resistance Zones: 7000, 7100, 7200
Key Support Zones: 6100, 6000, 5900

Australia 200 (AU200AUD) Long-term Trends: Bullish
AU200AUD is trading below level 6800. The index has been consolidating above level 6800 since January 20. Australia 200 has been trading marginally. The market has been characterized by indecisive small body candlesticks. Buyers and sellers have reached a period of indecision.

AU200AUD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend. The index has risen to level 58 of the Relative Strength Index period 14. This indicates that the market is in the uptrend zone and above the centerline 50.

Australia 200 (AU200AUD) Medium-term Trend: Bearish
On the 4- hour chart, Australia 200 is making an upward move. On February 3 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the index will rise to level 1.272 Fibonacci extensions or the high of 6947.40.

AU200AUD – 4 Hour Chart

4-hour Chart Indicators Reading
AU200AUD is above the 40% range of the daily stochastic. The index is in a bullish momentum. The 21-day SMA and the 50-day SMA are sloping upward.

General Outlook for Australia 200 (AU200AUD)
Australia 200 is in an uptrend but it is trading marginally. The index may reach downward as it faces rejection at level 6880. Presently, the index is in a sideways move.


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GBPUSD bullish breakout imminent

GBPUSD bullish breakout imminent

The GU failed to break lower after an attempt last week. We took that short for 100 pips but right after the Monetary Policy Report by the BoE price surge and now is retesting back the 1.3750 level.

This level is super important because price has traded below it since it broke with it for more than 1,000 days and right now it`s retesting it.

Having said that, it´s clear a lot of sellers are placed here but if we look at the lows in recent price action buyers keep pushing price up and making higher lows.

This reversal pattern or wedge has turned into a flat triangle giving us the opportunity to buy a breakout with massive potential to the upside.

Should price break with the 1.3750 we have a clean line of sight to the next key level and 1.618 of the last pullback for at least 250 pips and then to retest the previous highs for a possible 575 pip move from the breakout.

Since buyers keep grinding those lows higher the R on this trade is great.

 

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Chainlink (LINK) Price Analysis: LINK Price Continues to Make a Series of Higher Highs and Higher Lows

Chainlink (LINK) Price Analysis: LINK Price Continues to Make a Series of Higher Highs and Higher Lows

Key Highlights
LINK has broken above the $24 and $26 resistance levels
The coin may face rejection at $26

Chainlink (LINK) Current Statistics
The current price:  $26.51
Market Capitalization: $26,712,093,316
Trading Volume: $3,933,708,723
Major supply zones: $18.00, $20.00, $22.00
Major demand zones: $8.00, $6.00, $4.00

Chainlink (LINK) Price Analysis February 5, 2021
Chainlink has continued its upward move on the upside. The bulls have broken above the $26 price level. LINK is expected to reach the high of $30, if the current bullish momentum is sustained. However, the daily stochastic is indicating an overbought coin of the coin. The RSI indicates the coin has no enough room to rally on the upside. The price level may not rise at the present level. On the downside, if price retraces it may find support above the trend line.

LINK/USD – Daily Chart

Chainlink Technical Indicators Reading
Since January 1, a bullish trend line has been drawn showing the support levels of price. As long as the trend line remains unbroken,the bullish trend trend will be ongoing. The trend is said to be terminated if price breaks below the trend line. The coin is at level 64 of the Relative strength index . It indicates that the crypo upward move will be short-lived.

LINK/USD – Daily Chart

Conclusion
Chainlink is in an upward move . On January 17 uptrend, a retraced candle body tested the 61.8% Fibonacci retracements level. The retracement indicates that LINK is likely to rise to level 1.618 Fibonacci extensions. That is the high of level $30.30.Thereafter the price action will continue o the upside.


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Silver Upside Acceleration Gets All the Attention Amid Stocks Rally

Silver Upside Acceleration Gets All the Attention Amid Stocks Rally

The silver rally is accelerating after the gap and so far reaches $30. A strong break of resistance at 27.91 confirms the resumption of short-term gains from 21.88. The next target is a 100% forecast of $21.88 to $27.91 from $24.12 at $30.50, close to the high of $30.15.

Spot Silver (XAG/USD) continued its recent meteoric rally for the third day in a row, during which the spot price of the precious metal rose from less than $25 per troy ounce to, at some point during Monday morning European session, above the $30 mark with an increase of about 20%. After crossing the 2020 high of $29.80 and the $30 level and hitting an eight-year high on Monday morning, the precious metal declined slightly, trading at an average of $29, but still more than 10% higher than last year.

As the new session starts, the bulls may try to continue moving up past the $30 level, with the next significant area of ​​resistance going to the January 2013 high of around $32.50. Technically speaking, until then there will be clean air. On the other hand, early January 2021 highs just below the $28 level should offer support.
Stocks Rally Continues As Traders Focus Attention on Silver
The war between the Wall Street establishment and small investors is far from over as retail traders are not only still betting against GameStop short-sellers and other Reddit favorites, but are also moving into the commodities arena.

Silver has become a new target for Reddit traders after someone posted on an online forum that it is “the world’s largest short squeeze.” The spot silver price is up about 10% today after two days of strong gains.

Meanwhile, the price of so-called “meme stocks,” such as GameStop and AMC Entertainment, rose again on Friday after online brokerage firm Robinhood eased some of its trading restrictions on the stock. However, it remains to be seen if Reddit traders will have the same success in initiating a massive short squeeze for silver as they did for falling stocks like GameStop.

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NZD/USD Finds Support Above Level 0.7100 and Rebounds, Uptrend Likely

NZD/USD Finds Support Above Level 0.7100 and Rebounds, Uptrend Likely

Key Resistance Levels: 0.7000, 0.7200, 0.7400
Key Support Levels: 0.6200, 0.6000, 0.5800

NZD/USD Price Long-term Trend: Bearish
The Kiwi is intact as the pair rebounds above level 0.7100. Since January 27, the price has been falling after rejection from level 0.7250. The downtrend is likely to end if level 0.7150 support holds. The long candlestick tail indicates that there strong buying pressure above level 0.7100.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
Kiwi has risen to level 53 of the Relative Strength Index period 14. It indicates that the pair has enough room to rally on the upside. The 50-day SMA and 21-day SMA are sloping upwardly indicating the uptrend.

NZD/USD Medium-term Trend: Bearish
On the 4-hour chart, the NZD/USD pair is in an uptrend. On January 28 uptrend; a retraced candle body tested 61.8% Fibonacci retracement level. The retracement indicates that the pair will rise to level 1.618 Fibonacci extension. That is a high of level 0.7248.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping horizontally. The Kiwi is above the 60% range of the daily stochastic. It indicates that the market is in a bullish momentum. The kiwi is likely to rise as the coin resumes an upward move.

General Outlook for NZD/USD
The NZD/USD pair has fallen and resumed upward from the low of 0.7100. According to the Fibonacci tool, the current uptrend will reach a high of level 0.7248.



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