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Overview

Weekly Market Update 12-02-2024

BTCUSDT

4H analysis

$92k was the target for the analysis of the last week. It really tested this zone. $98.7k is an important zone at the top. It was tested three times on 4H chart but was unable to exceed that level. I think the price will try to break one more time. We have to decide what to do at that level. But if that levels reacts, then it can be exceeded in the second time.

15 min analysis

There is a steady increase in the price since it made a MSB on 15 minute chart. Candle was closed under EMA200 but it did not change the market structure. Now the price increases slowly. It can behave similar until it reaches to the yellow box. It will be a critical decision zone. If the level is exceeded with strong candles, then the price can make an ATH.

EURUSD

4H analysis

A significant on the drop of the pair price was available for a long time. Weekly range was deviated from the sell-side. Price is now trying to change the structure on 4H. However, it should be noted that, there is not a market shift in the current time frame. First, 1.06 should be exceeded. Then, we can talk about a reversal. If this is the case, after closing candle over that price, it will turn back to fill FVG. Then it will continue to increase.

15 min analysis

The market structure changed around 1.05 pair price. This happened by a price gap. It was first filled, then price started to move higher levels. There is currently a steady increase. The price is just over a FVG zone. Also, it is under the level, where it will make a MSB on higher time frame. It seems like that, the price will increase to make the market structure change.

XAUUSD

4H analysis

The target of the last week was the bearish order block. However, there was a front run in the price of gold. The price dropped significantly. Now, there is a market structure break like formation. But it is insignificant and in my opinion the lower high was to fill the FVG. That’s why, I think the price will visit the order block, then lose value.

15 min analysis

Exponential moving averages turned from falling lines to steady lines. This indicates a range formation before reversal or continuation. Price deviated the range but couldn’t keep over t range high. Price returned back into the range and closed FVG. Now, the price is ready for a second try to break out and retest, then move to higher levels.

** Important Note: Above ideas are not investment advice!**