EURAUD to see a capped rally?EURAUD - 24h expiry
The medium term bias remains bearish.
A higher correction is expected.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.6680.
The hourly chart technicals suggests further upside before the downtrend returns.
We look to Sell at 1.6680 (stop at 1.6730)
Our profit targets will be 1.6540 and 1.6510
Resistance: 1.6660 / 1.6700 / 1.6750
Support: 1.6600 / 1.6550 / 1.6500
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Aud
AUDUSD - stronger dollar, what consequences will it have for us?The AUDUSD currency pair is below the EMA200 and EMA50 in the 4-hour timeframe and is moving in its downward channel. In case of a valid failure of the support range, we can see the bottom of the downward channel and buy in that range with a suitable risk reward. If the downward momentum decreases, we will look for buy positions on the support range.
According to the official data released by the Australian Bureau of Statistics (ABS) on Thursday, Australia’s retail sales index increased by 0.8% in November compared to the previous month. In October, the index had grown by 0.5% after being revised down from an initial 0.6%. However, this growth fell short of market expectations, which had predicted a 1.0% rise.
Additionally, newly released foreign trade data from the ABS on Thursday showed that Australia’s trade surplus reached AUD 7,079 million in November, surpassing the market forecast of AUD 5,750 million and the previous month’s revised figure of AUD 5,670 million (adjusted from AUD 5,953 million).
Details of the report indicate that Australian exports rose by 4.8% month-over-month in November, compared to a revised 3.5% in October. Meanwhile, imports grew by 1.7% in November, compared to a flat 0% growth in October (adjusted from 0.1%)Meanwhile, JPMorgan reported that the US dollar has maintained its value contrary to expectations and may continue to do so. However, the bank’s analysts believe further appreciation of the dollar is limited.
Key Factors Influencing the US Dollar
• Global Growth Divergence and Central Bank Policies:
Disparities in global economic growth have led to significant differences in monetary policies. Additionally, the yield gap between US 10-year bonds and those of key trading partners has reached its highest level since 1994.
• Sustained Strength of the US Dollar:
Despite two rate cuts by the Federal Reserve in 2024, the US dollar appreciated by 7%. The real effective exchange rate (REER) also remains near its historical peak.
• Reasons Behind Dollar Strength:
1. Economic Growth Disparity: The US economy grew by 2.7% in 2024, compared to 1.7% growth in other developed markets.
2. Monetary Policy Differences: The limited rate cuts by the Federal Reserve (44 basis points projected for 2025) compared to larger cuts by the European Central Bank (110 basis points) and rate hikes by Japan (47 basis points) have sustained the yield gap.
3. Policy Shifts: New government policies, such as domestic production support, tariffs, and deregulation, could bolster economic growth and strengthen the dollar.
• Long-term Constraints on Dollar Strength:
1. The US dollar is historically overvalued (two standard deviations above the 50-year average), indicating limited room for further appreciation.
2. Structural issues, such as the US trade deficit (4.2% of GDP as of September 2024), could eventually pressure the dollar downward.
• Impacts of Dollar Strength:
1. Challenges for US-Based Investors: A strong dollar could reduce the performance of international companies and increase export costs.
2. Negative Effects on US Companies with Extensive International Operations: These businesses might suffer due to the dollar’s strength.
Assessing risks related to the dollar’s strength is essential for investors. While the dollar may continue to rise in the short term, structural factors and historical trends suggest significant downward pressure in the long term.
Falling towards pullback support?GBP/AUD is falling towards the pivot which is a pullback support and could bounce to the 1st resistance which acts as a pullback resistance.
Pivot: 1.9816
1st Support: 1.9728
1st Resistance: 1.9984
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EUR/AUD looks ready to tap outFrom a purely technical perspective, EUR/AUD could look appealing to bears. Resistance was found at 1.68 before bearish range expansion and a potential bear flag followed. But I also feel like we have seen this movie before (even if it was upside down).
In late November we saw a false break of the June and October lows before a bull-flag breakout occurred. we then saw another leg higher, bullish breakout and retest of the 200-SMA before its final leg higher.
If the reverse is to play out, we could now be in for a bull-flag breakdown towards the 200-day SMA, bearish consolidation, then breakdown and retest of the 200-day SMA before its final leg lower.
From a fundamental perspective, I believe markets have priced RBA cuts in too aggressively and the USD could be in for a pullback. And if Trump's policies really are less inflationary as feared, it could trigger a risk-on rally which could benefit an arguably oversold AUD over the euro.
And that is why I am now hunting EUR/AUD shorts.
MS
Potential bullish rise?EUR/AUD has reacted off the pivot and could potentially rise to the 1st resistance.
Pivot: 1.65908
1st Support: 1.64787
1st Resistance: 1.67157
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
GBPAUD Channel Up pull-back expected.Our last GBPAUD signal (September 27 2024, see chart below) couldn't have gone any better as, not only did it hit our 1.92600 Sell Target but the price then also bounced to hit the top of its Channel Up:
The price is currently on a rejection path following the new Higher High of the Channel Up and based on the previous Bearish Leg, it should hit at least the 1D MA200 (orange trend-line). As a result, our Target is now 1.09600.
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Bearish drop?AUD/JPY is rising towards the pivot and could drop to the 1st support.
Pivot: 99.58
1st Support: 98.49
1st Resistance: 100.18
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish drop off pullback resistance?AUD/JPY is rising towards the resistance level which is a pullback resistance and could drop from this level to our take profit.
Entry: 98.53
Why we like it:
There is a pullback resistance level.
Stop loss: 98.90
Why we like it:
There is a pullback resistance level.
Take profit: 97.854
Why we like it:
There is an overlap support level that is slightly above the 61.8% Fibonacci retracement.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bearish reversal off overlap resistance?AUD/CHF is rising towards the pivot and could reverse to the 1st support which acts as a pullback support.
Pivot: 0.57205
1st Support: 0.55667
1st Resistance: 0.58223
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
AUDNZD Channel Up charging for the new Bullish Leg.The AUDNZD pair has been trading within a Channel Up for the past 10 months. Right now it is on an uptrend as the most recent low was made on the 1D MA200 (orange trend-line) on December 09 2024.
Having also recently turned the 1D MA50 (blue trend-line) into Support, we expect the Bullish Leg to set course towards the top (Higher Highs) of the pattern. Our Target is marginally below that at 1.12500.
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AUDUSD to continue in the downward move?AUDUSD - 24h expiry
Broken out of the channel formation to the downside.
Trades at the lowest level in 26-months.
Buying posted in Asia.
Bespoke resistance is located at 0.6246.
The previous swing high is located at 0.6246.
We look to Sell at 0.6246 (stop at 0.6276)
Our profit targets will be 0.6166 and 0.6146
Resistance: 0.6246 / 0.6271 / 0.6275
Support: 0.6179 / 0.6150 / 0.6130
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Could the Aussie bounce from here?The price is falling towards the pivot which is a pullback support and could bounce to the 1st resistance which acts as a pullback resistance.
Pivot: 0.6200
1st Support: 0.6181
1st Resistance: 0.6232
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Heading into pullback resistance?GBP/AUD is rising towards the pivot which has been identified as a pullback resistance and could reverse to the 1st support level which is an overlap support.
Pivot: 2.0273
1st Support: 1.0061
1st Resistance: 2.0391
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Could the price drop from here?AUD/JPY is reacting off the pivot and could drop to the 1st support.
Pivot: 97.53
1st Support: 96.43
1st Resistance: 98.74
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish drop?AUD/JPY has reacted off the resistance level which is a pullback resistance which lines up with the 38.2% Fibonacci retracement and could drop from this level to our take profit.
Entry: 97.62
Why we like it:
There is a pullback resistance level that lines up with the 38.2% Fibonacci retracement.
Stop loss: 98.69
Why we like it:
There is a pullback resistance level.
Take profit: 96.13
Why we like it:
There is a pullback support level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bearish drop off pullback resistance?GBP/AUD is rising towards the pivot which acts as a pullback resistance and could reverse to the overlap support that lines up with the 78.6% Fibonacci retracement.
Pivot: 2.0273
1st Support: 2.00612
1st Resistance: 2.03910
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bullish bounce?EUR/AUD is falling towards the pivot and could rise to the 1st resistance.
Pivot: 1.66281
1st Support: 1.6560
1st Resistance: 1.67917
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bullish bounce off pullback support?AUD/CHF is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance.
Pivot: 0.56171
1st Support: 0.55828
1st Resistance: 0.56785
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.