The asset remains in a downtrend. The price tested the 1.1314 support level and is showing signs of a rebound. Bullish engulfing patterns are forming on the chart, while the Parabolic SAR indicator is giving a bullish signal. The price is currently testing the key 1.1350 resistance level.
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Globally, the asset is in an uptrend. The price has already attempted to break above the 1.4200 resistance level three times, but each attempt has been unsuccessful. Locally, the price is moving within a sideways range and testing its lower boundary, which coincides with the 1.4175 support level.
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The asset continues to decline. Each new high and low is forming below the previous one, indicating continued selling pressure. However, the price is holding the 82940 support level and has so far managed to stay above it.
The price is currently testing the descending trendline.
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The Parabolic SAR (Stop and Reverse) is a widely used trend-following indicator that helps traders identify potential entry and exit points. Developed by J. Welles Wilder, this tool places dots above or below price action to indicate the current market trend:
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#MarketNews
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The price attempted to move higher but failed to hold above the 1.3288 resistance level. It is now showing another impulsive decline toward the 1.3206 support level.
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The market is currently in a state of uncertainty, with participants focused on tomorrowโs NFP release. Gold has formed a symmetrical triangle, and a breakout through either boundary could determine the assetโs next direction.
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Globally, the asset remains in an uptrend, while locally, the price is consolidating within a small sideways range. At the same time, the index is trading near record levels and is currently testing the key 30785 resistance level.
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This level is critical during market retracements, often acting as a strong resistance or support zone. When the market recovers after a dip, prices often gravitate toward this level before deciding whether to continue or reverse the trend.
In trend reversals, draw the Fibonacci levels from the recent high to the low. Once the price breaks the 100.0% Fibonacci level, you can enter a trade with a take profit target at 161.8%, as this level often marks a strong extension point.
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โฟ Citi raised its 12-month Bitcoin target to $113,000 from $82,000. The bank cited stronger crypto activity, a supportive macro backdrop and renewed ETF inflows as key factors behind the revision.
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๐ช๐บ EUR โ Core CPI Flash Estimate y/y โ 12:00 GMT+3
๐ช๐บ EUR โ CPI Flash Estimate y/y โ 12:00 GMT+3
๐บ๐ธ USD โ Average Hourly Earnings m/m โ 15:30 GMT+3
๐บ๐ธ USD โ Non-Farm Employment Change โ 15:30 GMT+3
๐บ๐ธ USD โ Unemployment Rate โ 15:30 GMT+3
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After the decline, the asset moved into a local sideways range. The price is now near the upper boundary of the range at the 61.52 resistance level. The market remains relatively inactive as participants are waiting for the NFP release.
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Anonymous Poll
57%
38%
5%
8%
๐26โค15๐ฏ6๐4
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Actual โ 0.1%
Expected โ 0.3%
Previous โ 0.3%
Actual โ 29K
Expected โ 89K
Previous โ 162K
Actual โ 4.2%
Expected โ 4.1%
Previous โ 4.1%
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The asset is in a downtrend, however, after the release of the US labor market data, the price reacted with an upward move. The price is now testing the descending trendline and approaching the key resistance level at 51630.
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#MarketNews
๐บ๐ธ USD โ ISM Services PMI โ 17:00 GMT+3
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The asset held the 1.3183 support level and is now showing a slight upside move. The price is testing the local high and the 1.3238 resistance level. If the price holds above and updates this local high, the structure will shift to bullish.
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The asset has stopped making new local lows, which could indicate weakening selling pressure. The price is currently testing the 0.6969 resistance level. A Bullish Engulfing candlestick pattern has also formed on the chart, which could signal strengthening buying pressure.
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Gold is in a downtrend. The asset is unable to make new local highs, indicating weakness among buyers. The price is currently moving toward the 4130 support level.
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Smash
#Education
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#MarketNews
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