FxNews.me — Technical Analysis

[FxNews]

ETH Bull Run: Eyes on $2,720 After Fibonacci Bounce​

FxNews—The Ethereum price tested and bounced from $2,550 and resumed the uptrend, trading bullish above the 61.8% Fibonacci retracement level. The recent dip was anticipated because the Stochastic and RSI 14 were in the overbought territory, and the 4-hour chart formed bearish candlestick patterns.

The Awesome Oscillator's recent bar turned green, indicating the current bullish wave should resume. In this scenario, the next bullish target will likely be $2,720. Please note that the bullish outlook will be invalidated if the price dips below the $2,550 support.​

 

[FxNews]

Litecoin Dips Below $71 Amid Market Warnings​

FxNews—Litecoin dipped below the $71.0 critical resistance amid the Awesome Oscillator histogram declining toward the signal line. The market is in an overbought state as RSI 14 is approaching the 70 level.

FxNews analysts advise that retail traders and investors wait patiently for the price to consolidate near the 50% Fibonacci retracement level at $67.5, a supply zone offering a decent opportunity to join the bull market.

The bullish outlook would be invalidated if Litecoin bears push the price below the $67.5 support.​

 

[FxNews]

Article ⇒ USDHKD Surges as John Lee Policies Boost Key Sectors

FxNews—Hong Kong’s stock market experienced a significant uplift, rising 227 points, or 1.1%, to 20,509 on Thursday morning. This increase marks a notable recovery after a period of decline over the past three sessions.

The positive momentum from Wall Street, particularly within the technology sector, contributed to this rise. Decreasing U.S. Treasury yields and ongoing corporate earnings reports also played a crucial role.​

 

[FxNews]

Crude Oil Consolidates After the Sharp Drop​

Fxnews—Crude Oil began a consolidation phase in a narrow range area between $69.7 support and $71.8 resistance. A new bearish wave will likely be formed if the price falls below $69.7. In this scenario, the next bearish target could be the October 1 low at $67.5.

Please note that the trend outlook remains bearish as long as the price is below the $73.3 critical resistance.​