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Bullishsetup

USD/CAD Bullish Trend Hinges on ISM DataThe current USD/CAD outlook remains cautiously bullish, but the upcoming ISM Non-Manufacturing PMI data will play a critical role in shaping the pair's next move. Positive Factors for USD/CAD: Strong US Data: The recent ISM Manufacturing PMI was strong, indicating resilience in the US economy. If the Non-Manufacturing PMI also shows growth, particularly in the services sector (a large part of the US economy), it would further strengthen the USD, pushing USD/CAD higher. Hawkish Fed Outlook: The Federal Reserve has indicated it may keep rates elevated for a longer period if inflation remains a concern. Any robust economic data like a positive ISM print would reinforce this outlook, making USD more attractive to investors and pushing USD/CAD upwards​ Potential for a Bearish Turn (Bullish for CAD): Weaker ADP Employment Report: The ADP Employment report showed weaker-than-expected job growth, which could signal a slowdown in the US labor market. If the ISM Non-Manufacturing PMI data follows a similar pattern with weaker-than-expected numbers, it may lead to a bearish correction in USD. A softer labor market will reduce the pressure on the Fed to keep rates high, weakening the USD​. Oil Prices: CAD is closely linked to oil prices, and any upward movement in oil can strengthen the Canadian dollar. If ISM data disappoints and leads to a weaker USD, combined with rising oil prices, USD/CAD could see more downside​. What's Next ? ----------------- While the current technical and fundamental indicators lean toward a bullish trend for USD/CAD, the upcoming ISM Non-Manufacturing data will be crucial. If the data surprises to the downside, it could trigger a bearish USD correction, allowing CAD to gain strength. On the flip side, strong ISM data would likely reinforce the bullish USD/CAD trend. Traders should be prepared for volatility based on this key economic release.
Long
by ClearTradingMind
Riding the Wave: A Deep Dive into EURUSDElliott Wave Analysis of EURUSD This analysis is for educational purposes only and does not constitute financial advice. Trading involves risk, and individuals should consult with a financial advisor before making any investment decisions. Current Analysis Based on the provided Elliott Wave chart, we've identified the following: Completed Waves: Waves (1) to (4) have been completed in blue. Potential Ongoing Wave: Wave (5) is currently unfolding, with wave 1 completed in red. Scenario 1: Upward Reversal If the low of wave (4) is not breached, we can anticipate a potential upward reversal. This would indicate the completion of wave 2 in red and the beginning of wave 3 in red. This bullish scenario suggests a continuation of the uptrend. Scenario 2: Downward Correction If the low of wave (4) is broken, it would suggest that wave (4) is still in progress. This could lead to a further downward correction before the uptrend resumes. Key Points Support Level: The low of wave (4) serves as a crucial support level. A break below this level would invalidate the current bullish scenario. Resistance Level: The high of wave (1) could act as a potential resistance level. A break above this level would strengthen the bullish outlook. Elliott Wave Theory: This analysis is based on Elliott Wave Theory, which posits that financial markets move in predictable patterns. However, it's important to note that Elliott Wave analysis is not infallible, and other factors can influence market movements. Conclusion The current analysis suggests a bullish outlook for EURUSD, assuming the low of wave (4) is not breached. However, it's crucial to remain vigilant and monitor market developments closely. Always conduct thorough research and consider multiple factors before making any trading decisions. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
Long
by RK_Chaarts
2
So BULLISH on GOOGLE ! There is a very important price behavior we need to check. I am almost certain that this behavior is the key to an upward movement on the following weeks. There are several points to consider in order to determine what Google’s next move will be. EMA CROSS WITH DIVERGENCE: As we can see above, we have an EMA cross with bearish divergence. When there is wide divergence between the two EMAs, it indicates strong movement with momentum. Now, as we can see, the EMA cross is repeating again but in a bullish direction, and we are just starting to see divergence between the two, adding to the fact that the price has already broken the bearish channel with great force, followed by an indecisive Stacked Candle Channel. CHANNEL BREAKOUT AND MOMENTUM: The price, after breaking our channel with great strength and in a bullish direction, showed decisiveness. However, right now, it is trapped in a "Stacked Candle Channel," (SCC) which is an indecisive channel where candles are clustered together and of almost the same size. This can also be seen as a pattern that the price sets before making a decision. The question is: What decision will it make, bullish or bearish? EARNINGS REPORT: The earnings report is fundamental for companies to inform investors of any changes in their balance sheet that have been reflected. In this case, Google is a company with one of the strongest and most solid balance sheets on the NYSE. Google’s last two reports were extraordinary, and I have no doubt that Google will deliver a good report on October 22nd. But as the price approaches the report date, many will take positions, and we could conclude that Google will have a bull run until the 22nd. From there, it will depend on the report to make a leap toward the 180-190 range. Let's see what happens! Thank you for supporting my analysis, and I send you my best regards.
NASDAQ:GOOGLLong
by RocketMike111
Double Bottom Is Forming on MicronMicron is in an interesting position after shedding a great amount of value in the last 3 months. The Fundamentals are great and Microns Balance Sheet has very few problems! with the double bottom forming this could be signaling a very bullish sentiment with a possible reversal towards the upside. Micron is currently being forecasted with Revenue and EPS Growth. ---------------------------------------------------------------------------------------------------------------- Balance Sheet: Micron has a decent Debt to Equity Ratio while having more then 3 Assets for every 1 Liability which is personally important to me when looking at stocks, Debt is Manageable especially should Micron beat all forcasts Cash: US$8.38b Debt: US$11.33b Total Liability: US$22.03b Total Assets: US$66.26b Debt to Equity Ratio is: 25.6% ---------------------------------------------------------------------------------------------------------------- Resumed its Share Buy-Back Program ---------------------------------------------------------------------------------------------------------------- Highly Important Industry Supplier and Affiliates: Being Extremely Important with Industry Titans like Nvidia, Apple, Intel, MPS/Monolithic Power Systems, AMD, Texas Instruments, Microsoft, Gigabyte, Broadcom. ---------------------------------------------------------------------------------------------------------------- Diversified Business Model: Micron is not just a memory business its highly Diversified in 23.46% of there Revenue is derived from Microns -> "Mobile Business Unit" 23.4% of there Revenue is derived from microns -> "Embedded Business Unit" 36.74% of there Revenue is derived from Microns -> "Networking and Business Unit" 16.43% of there Revenue is derived from Microns -> "Storage Unit Business" ---------------------------------------------------------------------------------------------------------------- While Micron is in another uptrend in Revenue growth I think personally this time it could be more permanent growth, Micron is Extremely Undervalued compared to market peers such as Nvidia, and Micron with PE Ratios being well above 50 while Micron is extremely important within the Artificial Intelligence industry it benefits from a wide range of industries such as Artificial intelligence, Automotive, Computers, Memory, ETC. ---------------------------------------------------------------------------------------------------------------- Disclaimer: I am not a financial expert or have any certifications I just trade stocks as a personal hobby and I greatly encourage you to do your own research and not just take words at face value to make extremely risky investments. Please do your own Research I am not giving Buy, Sell or Hold Signals, This is just for healthy conversation and nothing else. ---------------------------------------------------------------------------------------------------------------- Idea:
NASDAQ:MULong
by BullishCanadianInvestor
9
Gold glimmers with potential as bullish sentiment prevailsToday's outlook for gold (XAU/USD) in the forex market remains bullish, driven by a combination of factors. The price is currently trading near significant resistance levels around $2,531, supported by expectations of U.S. Federal Reserve rate cuts, which would lower bond yields and make gold more attractive. Traders are particularly focused on upcoming U.S. employment data, which could further influence gold prices. A weaker-than-expected jobs report would likely push prices higher, potentially toward $2,600 in the short term. However, if the data shows strong job growth, gold may face downward pressure, with potential corrections towards $2,483-2,477
OANDA:XAUUSDLong
by BELLATRIXFX
Star Health: Trendline Breakout Signals Bullish ReversalStar Health is showing promising signs for long-term holding. The chart shows a clear downward sloping trendline that has been respected for a considerable period. Recently, the price has broken above this trendline, indicating potential trend reversal from bearish to bullish. The immediate swing high at ₹675 is a crucial level to watch. This level may act as resistance in the short term. If the price manages to break above this swing high, it could open the door for a move towards the supply zone. However, if the price faces rejection at this level, a pullback could occur. The chart suggests a potential scenario where the price could retrace after testing the swing high at ₹675. This retracement could provide a good opportunity for accumulation if the price finds support at lower levels, such as the ₹560-580 zone. There is a significant increase in volume during the breakout, which adds strength to the bullish case. Key support levels to watch include the ₹560-580 zone, where the price previously found support after the breakout There is a marked supply zone between approximately ₹770 and ₹820. where sellers have previously stepped in, leading to price declines. If the price approaches this zone again, it may face significant resistance. Consider entering a position if the price holds above ₹675 or on a pullback to the ₹560-580 zone. Accumulating during pullbacks with proper risk management could be a prudent strategy. Be cautious of potential reversals or rejections at the ₹675 swing high or within the supply zone. This is not a Buy Recommendation, just an idea. Please give a boost and comment if you like my analysis and feel free to share with others. Disclaimer: I am not a Sebi Registered Analyst, and the views expressed are of my own and for educational purpose only, Make sure you consult your financial advisor before investing, as I wont be Responsible for any losses incurred.
NSE:STARHEALTHLong
by Kaushik_Karnale
Trade for Monday : Buy the Silver Price: Long-Term Trade. Silver is about 9% off it's high price for 2024. I see this trade as a longer term setup going into September. Daily & Weekly Charts are very supportive of the Silver Price. Stop Loss: 28.45 28.45 is right under a fair-value-gap from a bullish candle that formed on 16th Augt. recently. 28.45 is about 4.83% under current price, so represents a very good R:R as we take this trade up much much higher. Entry Level: To be determined during European/London session during tomorrow (Monday trading)
EIGHTCAP:XAGUSDLong
by Easy_Explosive_Trading
GMT ANALYSIS (breakout)🔮 #GMT Analysis - Breakout Trading 💰💰 🌟🚀 #GMT was trading in a Ascending Triangle Pattern and here we can see that #GMT gave a great breakout. We can expect a long rally in #GMT if it sustain this breakout.💲💲 🔖 Current Price: $0.1170 ⏳️ Target Price:   $0.1370 ⁉️ What to do? - We have marked crucial levels in the chart . We can trade according to the chart and make some profits. 🚀 #GMT  #Cryptocurrency #Breakout #DYOR
Long
by ZEUS_Market_Alerts