HomeForex MarketWeekly Technical Outlook: Development Continuation Performs on AMD, Bitcoin (BTC/USD), and AUD/CAD

Weekly Technical Outlook: Development 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 HODL-ers bought one other increase on Friday when BTC/USD bounced from an ascending channel assist 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 assist zones close to the SMAs, you possibly can wager that no less than some bulls are searching for locations to leap in.

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

What do you suppose? Will BTC/USD lengthen its positive factors? Or will the crypto dip beneath its channel assist and see a deeper pullback?

Superior Micro Gadgets, Inc. (AMD): Each day

Advanced Micro Devices, Inc. (AMD) Daily Chart

Superior Micro Gadgets, Inc. (AMD) Each day Chart

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

Or not. The asset should first get by way of the 100 SMA that’s sitting near the descending channel resistance on the each 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 pattern 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, nonetheless, may drag AMD again to its $84.00 and $74.50 lows.

AUD/CAD Daily Forex Chart

AUD/CAD Each day Foreign exchange Chart

Who’s up for some comdoll motion?

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

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

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

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

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