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Azizelliott

$XAUUSD - Importance of $1798 Hi guys! 👋🏻 🔔 Some data to consider: Several Central Banks, including CBs of Hungary, Japan, Turkey and India have increased their Gold reserves in March, total purchases of all banks exceeded 172.2 tones. Central Bank of Hungary purchased 63 tones of gold to hedge from the US inflation, while Turkey, India and Japan CB's are most likely to hedge the risk of the devaluation of their local currencies. 🔔 Gold's been bullish since April, after retest of the early March support, forming a double bottom pattern, however the weak impulse didn't let Gold to close above the resistance at $1798. 🔔 Gold will resume the bullish sentiment only if closes above the aforesaid resistance for now. There also is a strong barrier represented by MA100. This Moving average also lays above the $1798 resistance. 🔔 If Gold fails to break above MA100 and $1798, and moreover closes below EMA50, we might witness another heavy drop as we witnessed in late January 2021. 🔔 Bullish continuation of Gold might be backed by the rarpidly growing US economy, which leads to the anxiety of the interest rate hike, geopolitical tensions and the spread of coronavirus. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
OANDA:XAUUSD
by azizelliott
1
$NZDUSD - Inverted head shoulders confirmed only above $0.73Hi guys! 👋🏻 🔔 Inverted head and shoulders and a double bottom patterns could play out well for a long trade, though only above 0.73 resistance which is very strong. 🔔 Tuesday’s monthly New Zealand electronic card retail sales demonstrated growth in purchases, sales in April were up 4%, which is significantly higher than February’s 0.8%. Despite the positive news, NZD was not able to show significant growth against USD and lost in value against the Japanese Yen. So need to be very cautious, especially during the US CPI data release. 🔔 There also is a great support from Moving averages on 4H chart and on a daily chart Daily 🔔 However RSI and MACD indicators are slightly bearish at the moment and a drop to 0.7200 and 0.71400 is also possible before another surge attempt. 🔔 One of the backers of the uptrend could be strong CPI data, which will be announced later today. There still are concerns among the strong US Dollar among investors, if CPI data is strong and positive, investor's might look forward to selling the USD in fear of rate hikes. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
Long
by azizelliott
$XAGUSD - Breakout from an ending diagonal Hi guys! 👋🏻 🔔 There is a very small gap in CFTC long and short net positions, long positions are increasing, non-reported net positions have 2x more long positions than short. 🔔 Covid19 new waves might support the new bullish for Silver and Gold. 🔔 Both metals tested their respective major support zones and Silver just broke out from the Ending Diagonal. Fear of inflation, fear of Covid19 spreading = hedging. Most known heding assets for long time are gold and silver. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
OANDA:XAGUSDLong
by azizelliott
$USDJPY - Testing a major support/resistance zoneHi guys! 👋🏻 🔔 The growing number of new Covid-19 infections redound to new public restrictions and State of Emergency declarations in Tokyo, Kyoto, Osaka and Hyogo. There are protest in Japan against the Olympics. Interest rate is still -0.10% 🔔 Japan has the lowest vaccine distribution compared to other countries, thus the rate is 1.6% only compared to the 49.7% in the UK and 41.8% in the US. 🔔 The support of $107.7 is very strong, as you can see on the chart, hence, I believe, we are in the cycle of the uptrend continuation. 🔔 There is a strong resistance at $108.45, to continue upwards, USD/JPY has to close above this level. FOMC statements and key notes will be decisive tomorrow. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
Long
by azizelliott
$BTCUSD - Bitcoin, Tesla and Elliott WavesHi guys! 👋🏻 🔔 Soon after the release of the tweet, Bitcoin price climbed to $56 250, adding 3% to the daily gain of the price. 🔔 On March 14, Bitcoin set a new record high at $61 779 and retraced, not reaching $62 000 long-awaited by many investors. Since March 14 Bitcoin has been following a 10-day downtrend. 🔔 There was a high exchange inflow of BTC on March 13 and approximately 17.9K BTC entered the exchanges. From March 14 up to March 21, the inflow volume dropped from 48 480 BTC to 18 200 BTC forming a slide of 30 280 BTC, which is a drop of 62.45%. The same is witnessed now, exchanges inflow since March 21 has increased by 123% according to the data from ITB. 🔔 While the inflow has increased, it is expected that the price will as well, and such volumes suggest that we might see a new ATH soon. 🔔 There is a falling wedge on the watch here and if the breakout from the upper edge of the pattern is confirmed overnight, based in the pattern's rules the next target would be $66 700 🔔 Though I believe that the first resistance to watch for if the breakout is complete, lies at $62 000 and if the pace remains, I believe this resistance will be overtaken easily. 🔔 MACD indicator is very bullish, so as RSI on 4H, and on the daily while we are still above the lower border of this parallel channel, we remain bullish ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
BITSTAMP:BTCUSDLong
by azizelliott
$AUDUSD - Breakout from the ending diagonalHi guys! 👋🏻 🔔 Breakout from the ending diagonal (wedge) is confirmed, AUD/USD remains above the resisance of 0.76670, which is a bullish continuation sign for the pair. Although might slightly correct to retest the upper edge of the pattern as support, so keep that in mind. 🔔 The US Annual inflation rate in March exposed 2.6% which is far beyond the FED’s desired 2%. Hence, investors worry that the FED may reconsider the interest rates sooner than expected. 🔔 Australian Consumer sentiment index in April surged to 6.2% (previous 2.6%) as consumers tend to show confidence in the economic growth of Australia. 🔔 The US Inflation data once again beat expectations and brings anxiety to the market, slacking the US Dollar index. DXY lost 0.28% yesterday and is down 0.12% today, while commodities like gold and silver are looking to rally. The Australian Dollar which is mainly correlated to Gold is on the main spot light. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
Long
by azizelliott
2
$GBPUSD - Inverted head and shoulders and Double bottomHi guys! 👋🏻 🔔 Inverted head and shoulders spotted on GBP/USD. The first resistance would be a neckline at $1.38600. 🔔 The second resistance is based on the confirmation of the Double bottom at $1.39880, and the final is the target of the double bottom pattern and February 25th high at $1.41740 ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
Long
by azizelliott
$BTCUSD - Bullish flag and Fibo levelsHi guys! 👋🏻 🔔 Bullish flag is being formed on BTC/USD 🔔 The Fibonacci divergence of the latest impulse replicates a support at 0.5 Fibo, however Bitcoin might as well drop to 0.618 Fibo to a massive support around $59K. 🔔 The retest of $59K would be a drastic uptrend signal as it not only holds the dynamic support of the bullish flag but a dyanic support of February 28. 🔔 Also there is a stable static support at 59K, hence sooner or later BTC will jump towards $68K and as the volumes increase, Bitcoin will proceed towards $70K and $78K. This ending diagonal formation might suggest a bearish reversal, a strong reversal but since March 2020 we have seen many times that BTC simply ignored the pattern and was rather bullish on the completion of this pattern than bearish. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
BITSTAMP:BTCUSDLong
by azizelliott
$EURUSD - Following an ending diagonalHi guys! 👋🏻 🔔 Euro is following an ending diagonal pattern on an hourly chart 🔔 Both MACD and RSI indicators are signalling the short-term bullish continuation of the pair. Whilst the chart pattern analysis suggests that Euro is about to hike towards $1.1990 and $1.21300, closing above the $1.1800 is extremely important, otherwise it would be a retest of the support as resistance and Euro will resume the downtrend. 🔔 The pair is following the ending diagonal pattern on an hourly, which in general suggests the local trend reversal. According to the five-wave structure of this pattern, it is assumed that the Euro should have one more leg down before it can breakout from the dynamic resistance. However, if the Euro keeps the bullish pace of March 31, we could witness a breakout and an advancement towards $1.19900 and $1.120200 anytime soon. 🔔 Here is what it looks like on a Daily chart, to give more confidence to buyers. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
Long
by azizelliott
$ADAUSD - Looking to retest $1.4590Hi guys! 👋🏻 🔔 Quick one, based solely on levels, indicators and patterns. 🔔 I believe, Cardano after the retest of this dynamic support, will continue upwards to $1.337 and $1.459 🔔 See the daily chart below to trace dynamic supports and resistances. 🔔 Alternative scenario if Cardano today drops (unlikely) below the dynamic resistance it will confirm the Flat corraction and retrace at $0.98500 ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
Long
by azizelliott
$BTCUSD - Bitcoin must surgeHi guys! 👋🏻 🔔 Bitcoin’s hashrate, and it just hit a record high with more than 166.4M TH per second. 🔔 The hashrate and the price are strongly correlated, as miners expect a higher reward for the higher computational capacity provided by them. 🔔 The previous ATH of Bitcoin’s hasrate was on February 9, 2021 when BTC/USD hit $48 142 setting a new high, and after a slight correction set a new straight uptrend, which continued up to February 21 and halted at $58 352. With that being said it is estimated that Bitcoin is entering into a new bull cycle. 🔔 Bitcoin is above the dynamic resistance of a descending parallel channel, it must surge! ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
BITSTAMP:BTCUSDLong
by azizelliott
$XAGUSD - Technical analysis and some fundamentalsHi guys! 👋🏻 🔔 Silver once again outperformed Gold today by gains, Silver is up just over 1%, while Gold gained only 0.24%. 🔔 According to the CFTC data as of March 9, there is a 20,000 spread between the overall net positions on Silver Futures, with an edge going to short positions. The update of the CFTC data on Silver will be released later tomorrow, worth checking it out. 🔔 As per the technicals, silver seems bearish below the ascending channel, the retest of the channel’s dynamic support as resistance, on March 11 adds fuel to the bearish sentiment of XAG/USD. 🔔 Although Silver might look ascending in a short uptrend, supported by a signal from MACD, MA100 and MA200 act as a strong resistance lying right next to the dynamic level which acted as a strong resistance previously, there is a key level and a pattern which might halt the uptrend for a longer period. 🔔 A falling wedge pattern formed on a 4H XAG/USD chart suggests that there should be one more leg down before Silver could regain power and continue upwards. There is a strong resistance at levels $26.60 and $26.75, which should be tested soon enough, the area of this resistance’s strong repulsing force is backed by multiple static resistance points, upper edge of the wedge pattern and the upper edge of the local ascending channel. 🔔 If Silver is not able to break and close above $26.75 and is rejected by this resistance area, the sharp fall may send it back to $24.90 and $24.35. If Silver is able to close above $26.75, then it might signal the bullish continuation of the precious metal, however the first scenario looks more relevant based on the chart analysis and the data from CFTC. 🔔 To minimize your risk wait for the touch of the dynamic resistance mentioned above or breakout from the lower local dynamic support (black) ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
OANDA:XAGUSDShort
by azizelliott
$USDCHF - Triangle breakoutHi guys! 👋🏻 🔔 US Dollar gains ahead of FOMC meeting, despite negative housing stats and building permits data, +0.50% against the Swiss Franc. 🔔 The year has started unfortunate for the Swiss Franc as the CHF lost 6.33% to GBP, 2.15 to Euro and 5% to Australian Dollar. 🔔 The negative rates kept by the SNB, causing the inflation to remain negative, for the second month in a row the inflation in Switzerland remains -0.5%. Though the deflation has significantly improved, according to the data the state is still in deflation mode for a consecutive year. Incomes of the Swiss National Bank have dropped significantly in 2020, resulting in a total loss of 27,982.1M CHF. 🔔 USD/CHF is in a correction mode in a whole week since March 10, after a trend reversal early this year. The breakout from the descending ending diagonal supported the uptrend of the US Dollar against the Swiss Franc. 🔔 4-Hour chart of the pair suggests that the uptrend continuation of the pair is possible after a confirmed breakout from the triangle. 🔔 The breakout from this triangle will trigger a jump towards $0.93760 and $0.94750 above the local high. The uptrend is supported by RSI and MACD indicators as well as the EMA50. The volatility during the FOMC meetings will create a bumpy road for the price’s ongoing trend-continuation, hence it is highly recommended to keep eye on key levels, supports and resistances, one important resistance lies at $0.93140. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
Long
by azizelliott
$BTCUSD - Just my vision of the next target at $70KHi guys! 👋🏻 🔔 Weak CPI data weakened the DXY and supported the further growth of Bitcoin against the US Dollar 🔔 he total amount of Bitcoin locked in DeFi according to the data from the analytics website hit new ATH today with 178,603 BTC, and the total value of BTC in DeFi for the first time ever exceeded $10 Billion. 🔔The impulse wave of February 28 continues as Bitcoin approaches the all-time-high. As it seems from the wave formation of the BTC/USD price, Bitcoin might not stop at $60 and reach $62,000 and $63 200 when overstepping the ATH. 🔔 The daily BTC/USD chart looks more positive in terms of spotting the next strong resistance of Bitcoin. 🔔 If we juxtapose the correction and a further growth of Bitcoin from January 8 until February 21 and the correction from February 21 and the evolving impulse wave of Bitcoin, applied inside a parallel channel which the price follows, then the most obvious heavy resistance of Bitcoins price lies slightly above $70K. 🔔Though the assumption of such growth remains theoretical, it is worth claiming that Bitcoin has entered the new bull cycle. The evolving DeFi market, growing number of companies that add Bitcoin to their holdings support the hike of Bitcoin’s price. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
BITSTAMP:BTCUSDLong
by azizelliott
1
$XAUUSD - Decisive level is being testedHi guys! 👋🏻 🔔 The tension around the stimulus bill rises as President Biden decided to imply stricter income limits on the next round of stimulus checks payouts. Under the new amendments, individuals who earn more than $80,000 per year, single parents earning more than $120,000 per year, and couples earning $150,000 will be disqualified from receiving the stimulus aid. 🔔 Recuperating labor market in the US, decreasing Covid-19 cases could be the main motivator for the Biden Administration to further imply limits to the stimulus bill. Stronger US Dollar resulted in a significant drop of Gold. 🔔 The Gold demand decreased drastially by the end of 2020. There was a full outflow in Gold ETF's on the US for the Q4 of 2020, while the European ETFs saw an inflow of 17 tonnes. The total number of investment shares of Gold Globally in Q4 2020 dropped by 71%. 🔔 As seen on the daily XAU/USD chart, Gold has touched the lower edge of the descending parallel channel, which acts as a great support. 🔔 The support can withstand the upcoming US Employment data which is expected to be worse than during the previous period, however for the longer term, Gold might continue the downtrend. In both previous severe drops, Gold rebounded sharply, see supports on August 12, November 30, current candle suggests that buyers are exhausted and the downtrend will continue. 🔔 Nevertheless, do not short until it closes below the dynamic support. Gold investors will be thoroughly watching the speech of the FED Chair Mr. Powell later today. Highlights on the economic state of the US could be decisive for the further trend continuation of Gold. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
OANDA:XAUUSDShort
by azizelliott
$BTCUSD - Another symmetrical triangle and strong resistanceHi guys! 👋🏻 🔔 Bitcoin set a new All-time-high yesterday hitting $48188, the coin still has plenty of room for growth as the long-awaited $50000 is closer than ever. 🔔 The pair has also formed a symmetrical triangle and a breakout from the triangle will signal the bullish continuation. The coming resistances if the breakout is confirmed are at $48920 and $51050, though panicking sellers might sell Bitcoin at levels near $50900. MACD also nears the signal line and will cross when BTC escapes the triangle trap. 🔔 Bitcoin’s 4 hour chart on other hands has another story to tell. The level where BTC/USD is currently is very wild as Bitcoin has tested yet another resistance. 🔔 As the chart above suggests, Bitcoin might touch the dynamic resistance once again at $4900 - $49200 levels and retrace. The price action similar to the February 8ths jump was seen on January 4th. Such price action suggests that as stronger the impulse wave, the deeper the correction. 🔔 The best price action would be to test $49000 - $49450, retrace to $41400 and go for another bullish run towards $55000. Breakout from the triangle will signal the short-term trend continuation of the pair. 🔔 Mr. Musk in his latest tweets backed Bitcoin and other currencies, in one of his tweets he said “I do at this point think bitcoin is a good thing, and I am a supporter of bitcoin.” The question which remains is if other companies follow the lead of Tesla in accepting cryptocurrencies. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
BITSTAMP:BTCUSDLong
by azizelliott