FxNews.me — Technical Analysis

[FxNews]

Will NATGAS Push Past $2.38 or Fall Toward $2.24 Support​

FxNews—The NATGAS price exceeded the descending trendline but remained below the 38.2% Fibonacci retracement level ($2.38). The RSI 14 indicator signals divergence, while the Stochastic and Awesome Oscillator hints at a continuation of the bullish trend.

Regardless of the technical indicators, immediate resistance rests at $2.38. From a technical standpoint, the bullish trend would be triggered if the NATGAS price closes and stabilizes above this immediate resistance. The next bullish target in this scenario could be the 50% Fibonacci level at $2.47.

Please note that immediate support is at $2.32. If bears push the natural gas price below this support, a new bearish wave will likely be triggered. If this scenario unfolds, the next bearish target could be $2.24.​

Good read:

• Will Gold Trigger a Bullish Wave at the $2670 Resistance?
• Gasoline Analysis – Prices Near $2 as Trump Win Boosts USD
• Crude Oil Forms Bearish Pattern with $69.7 Target in Sight

 

[FxNews]

Article ⇒ Fed Rate Cut Keeps Gold Strong at $2680 on Soft Labor Data.

The downtrend will likely be triggered if XAUUSD closes below support with a full-body bearish candlestick. Conversely, a close above the resistance invalidates the bearish trend. ​

• Resistance: $2,710​
• Support: $2,670​

 

[FxNews]

Article ⇒ Crude Oil Dips to $72.7 as China’s Imports Decline

The RSI's bearish divergence signal decreased the price to $69.7. A close below the 100-SMA could trigger a new bearish trend toward $68.3.​

 

[FxNews]

Watch EUR/JPY for the Next Move at the Fibonacci Level​

FxNews—The EUR/JPY currency pair tests the bullish fair value gap as resistance. This occurs when the price is below the 100-period simple moving average. Moreover, the technical indicators suggest that EUR/JPY has the potential to rise and test the upper resistance level, giving mixed signals.
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Forecast​

The October 14 high at 163.65 serves as immediate support. If the immediate support holds, the current uptick in momentum has the potential to rise toward the 165.0 resistance.

Conversely, the downtrend will likely resume if bears close and stabilize the price below 163.65. If this scenario unfolds, the next bearish target could be the 78.6% Fibonacci retracement level at 162.94.​

Good read:​

• GBPJPY Stabilizes Above 100 SMA Amid Bullish Signs
• GBPUSD Eyes October Low as Downtrend Continues
• EURUSD Eyes Rebound as Indicators Suggest Oversold Levels

 

[FxNews]

Article ⇒ AUDUSD Eyes October Lows as Resistance Holds

AUDUSD trades bearish below the 100-SMA. If the 0.664 critical resistance holds, the downtrend will likely resume, targeting 0.653 followed by 0.669.​

 

[FxNews]

Trump Wins Boost Bitcoin to Record $80000

Bitcoin hits a record $80,000 as #Trump wins key swing states, signaling a potential pro-crypto U.S. administration ahead.​

 

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[FxNews]

Oil Slips Under $68 with China Economic Action on Hold​

FxNews—Crude Oil prices dipped after bulls failed to hold above the $72.25 resistance level. The downtrend accelerated once it broke below the ascending trendline. Furthermore, the bearish trend was promised by the RSI 14 divergence signal.

As of this writing, Oil prices are oversold, as hinted by the Stochastic and RSI 14. Hence, the Crude Oil price is expected to bounce from this point or consolidate near upper resistance levels.

From a technical perspective, the immediate resistance is $68.3, followed by the critical $69.7 bullish barrier, backed by the Fair Value Gap.

The oil price is likely to consolidate near $69.7, which offers a low-risk entry price into the bear market. In this scenario, traders and investors should closely monitor the above resistance areas for bearish signals such as candlestick patterns.​

Good read:

• USDILS Eyes 3.81 After Potential Consolidation
• Bitcoin Halving and US Politics Fuel Price Surge
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[FxNews]

Litecoin Price Consolidates Facing $77.8 Resistance​

FxNews—Litecoin's bullish trajectory eased after the price hit $82.85. Interestingly, the Stochastic and RSI 14 indicators hinted at the overbought market, which justifies today's consolidation near the 38.2% Fibonacci retracement level.

The immediate resistance is at 77.8, with a bearish fair value gap. If the immediate resistance holds, the downtrend could revisit the 74.3 support. Conversely, the uptrend could resume if the bull pulls the LTC/USD price above 77.8. In this scenario, the $82.85 resistance could be revisited. ​

Good read:​

• Natural Gas Hits Overbought as $2.68 Critical Resistance
• Oil Slips Under $68 with China Economic Action on Hold

 

[FxNews]

NATGAS Momentum Builds Toward $2.84​

NATGAS tested the $2.55 resistance and bullish fair value gap in today's trading session. Consequently, the uptick momentum resumed above the resistance while the technical indicators signaled a weakening bear market.

From a technical perspective, the next bullish target could be the $2.84 mark if the immediate resistance at $2.55 holds. ​

Good read:

• USDJPY Bullish Above 151.5 Eyeing 157.1 Target
• USDCAD Exceeds 1.39 as US Tariffs Threaten Canadian Exports
• NZDUSD Tests $0.591 as NZ Central Bank Plans Rate Cut

 

[FxNews]

Bitcoin could target $95,000 ​

Bitcoin has tested the bullish fair value gap at approximately $88.220, which provides active immediate support. From a technical perspective, this level is a crucial pivot point.

If bears close below this level, a new consolidation phase could begin, potentially targeting $84,500. On the flip side, if the immediate resistance holds, a new bullish wave will likely emerge, potentially targeting $95,00. ​

Good read:

• Silver Remains Bearish Below $31 as Solar Demand Dips
• Select Gold Plunge as ETFs Pour $809 Million in November
• NATGAS Rebounds from $2.55 with Warm Weather Ahead

 

[FxNews]

Watch Ethereum as It Nears Crucial $3120 Support.​

If ETHUSD prices stabilize below $3,190, Ethereum, backed by the 50-SMA, could face a downturn to $3030.

Article: Watch Ethereum As It Nears Crucial $3120 Support

 

[FxNews]

GBPJPY Poised to Break 198 Amid Japanese Stock Dip

GBP/JPY is nearing a pivotal breakout at 198.45 resistance, with the potential to retest the October high of 200.0 as the next target.

Article: GBPJPY Poised To Break 198 Amid Japanese Stock Dip​

 

[FxNews]

Natural Gas Prices Dip to $2.4 After EIA Report Surprise​

NATGAS dipped as reports show a surplus in the Natural Gas reserves and a warmer weather forecast for November. The stochastic is oversold, which could cause the Natural Gas price to target $2.56. A dip below the 50-SMA invalidated the bullish outlook. ​

Article: Natural Gas Prices Dip To $2.4 After EIA Report Surprise

 

[FxNews]

Watch Silver as It Approaches $30.7 Resistance​

Silver remains oversold but is nearing the $30.7 resistance level, gaining upward momentum as indicated by the Stochastic's move out of the oversold territory.

The trend outlook will stay bearish if silver prices remain below the October 17 low of $31.35. Should silver close above the immediate resistance at $30.76, it might aim to test the 50-period simple moving average as its next resistance.​

Article: Silver Bear Market Shows Signs Of Recovery Around $30

 

[FxNews]

GBPUSD Nears Key 1.261 Mark Amid Oversold Signals

GBP/USD is testing 1.261 resistance in a robust bear market, and if resistance holds, it could drop to 1.245.

Article: GBPUSD Nears Key 1.261 Mark Amid Oversold Signals​

 

[FxNews]

NZD/USD Downtrend Deepens Past August Lows

NZD/USD falls below the 100-SMA, breaching August lows. The bearish trend continues, with resistance at $0.581, targeting the October low at $0.577.
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Article: NZDUSD Dips Despite Strong Economic Data

 

[FxNews]

USD/JPY Potential Rise to 161.9 on Breakout

USD/JPY could initiate a bullish run toward 161.9 if it stabilizes above the 157.5 resistance level. Watch for potential gains.

Article: USDJPY To 155 As BOJ Signals Gradual Rate Hikes

 

[FxNews]

Watch USDCHF for a Potential Drop to 0.880​

USDCHF approaches critical resistance support, with the potential to reach 50% Fibonacci and August 15 high if bearish momentum continues.

Article: Watch USDCHF For A Potential Drop To 0.880

 

[FxNews]

Oil Prices Dip as Bears Target $66.8 Support​

Crude oil prices trend bearishly below SMA lines, with sellers aiming to push below the critical $66.8 support. In this scenario, the downtrend will likely extend to the September 2024 low, the 65.3 support.

Article: Oil Downtrend Hits $66.8 Amid Global Surpluses