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Overview

Weekly Market Update 12-09-2024

BTCUSDT

4H analysis

The expected correction was achieved by very fast candles last week. This movement was good enough to not allow the market structure to be invalidated. The area just below $99k acts as a support/resistance zone. As the time is in weekend, there is no significant price movements and volume is quite shallow. But as of Monday, a volume increase is possible. The price of BTC will test $104k.

15 min analysis

There is a steady price movement to sideways. If the last downward movement is regarded as a range, the price remains between the equilibrium and range-low level. Range-low was deviated twice. Next target will most likely be range-high. The possible movement will be to break the range-high level. After a retest, higher price targets will be probable.

EURUSD

4H analysis

EURUSD pair still remains at the same price level as it was in the last week. Price could not make a market structure break on 4H chart. After making a market structure shift, we can expect a reversal as shown on the chart. After that price movement, the target will be above fair value gap, which is around 1.085 pair price.

Apart from 4H chart, 15-minute chart is bullish. Price is moving by making higher lows and higher highs. There is an iFVG above. The price will most likely move there. A pullback is possible there. After that, the last higher high will be the target. Also, break of the high point is possible.

XAUUSD

4H analysis

The price of gold remained stable since the last week. Moving averages shows the stability of the price by an almost horizontal line. The last sharp downward movement generated a range. Equilibrium of the range was tested once. Momentum of the price is dropping. Sell-side liquidity can be reached, then I expect a price increase to reach buy-side liquidity and probably hit the bearish order block just over the range high. As the market structure is bearish, further drop is appropriate to the current structure.

15 min analysis

A similar pattern is available for 15-minute chart, compared to 4-hour chart. The last downward movement generated a range and this range has not been violated. The price is within the range and mostly around the equilibrium. A deviation is likely according to chart. The closest place for deviation is the sell-side liquidity. Therefore, $2600 is the recent target. Then, $2690 can be a secondary target for gold.

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