Saturday, April 1, 2023
HomeForexWeekly Technical Outlook: Pattern Continuation Performs on AMD, Bitcoin (BTC/USD), and AUD/CAD

Weekly Technical Outlook: Pattern Continuation Performs on AMD, Bitcoin (BTC/USD), and AUD/CAD

Prepared for a model new month of technical performs? I gotchu!

This week we’re taking a look at AMD, Bitcoin (BTC/USD), and AUD/CAD probably extending their swing and long-term setups.

Get ’em whereas they’re sizzling!

Bitcoin (BTC/USD) 4-hour Chart

Bitcoin (BTC/USD) 4-hour Chart

Bitcoin HODL-ers bought one other enhance on Friday when BTC/USD bounced from an ascending channel help close to the 4-hour chart’s 100 and 200 SMAs.

The enjoyable stopped at round $24,500, although, which is suspiciously near the channel resistance on the chart.

With Stochastic nearing oversold ranges and Bitcoin inching nearer to help zones close to the SMAs, you may guess that a minimum of some bulls are in search of locations to leap in.

$22,800 is the closest main inflection level although merchants may have a look at $22,500 or $21,500 pretty much as good entry areas.

What do you suppose? Will BTC/USD prolong its good points? Or will the crypto dip under its channel help and see a deeper pullback?

Superior Micro Gadgets, Inc. (AMD): Day by day

Advanced Micro Devices, Inc. (AMD) Daily Chart

Superior Micro Gadgets, Inc. (AMD) Day by day Chart

Superior Micro Gadgets, Inc. (AMD) seems able to hit $100!

Or not. The asset should first get by means of the 100 SMA that’s sitting near the descending channel resistance on the every day chart.

Will AMD see extra losses within the subsequent few days? Watch how merchants will react to the resistance zone.

A transparent break above the development line and 100 SMA may assist ship AMD to the $110.50 – $112.00 earlier space of curiosity.

A bounce decrease from its present ranges, nevertheless, may drag AMD again to its $84.00 and $74.50 lows.

AUD/CAD Daily Forex Chart

AUD/CAD Day by day Foreign exchange Chart

Who’s up for some comdoll motion?

If you’re, then you definately’d love that AUD/CAD was capable of elevate itself from its July lows to commerce nearer to the .9000 main psychological degree.

What makes .9000 much more attention-grabbing is that it traces up with a earlier help and the 38.2% Fibonacci retracement of a months-long downswing.

Bearish momentum under .9000 may prolong AUD/CAD’s long-term downtrend all the best way to new 2022 lows.

A break above the massive .9000, nevertheless, might push AUD to areas of curiosity like .9150 or .9300.



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