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USD Upside PotentialHey Traders! 👋 For Day 18/100 of our challenge, we will look at USD upside potential this week. Won't be doing a pair today to take it easy on a bank holiday. Looking at the weekly chart, we see 101 held as a strong support with 3 weeks of bullish price action. This week, we expect it to continue towards resistance at 105.3. If we do confirm a bullish fundamental environment tomorrow, USD longs are still looking good similar to last week. Enjoy your holiday! See you tomorrow.
TVC:DXYLong
by rob_WRLD_
Gold Price Forecast: Uptrend XAU/USD upbeat ahead of CPIGold (XAU/USD) cheers US policymakers unable to give any commendable signs of debt ceiling as the yellow metal re-establishes weekly highs to around 2,038$ around the press time point. In doing so, XAU/USD also benefited from a softer US Dollar ahead of all-important US Consumer Price Index (CPI) data for April. That said, XAU/USD is currently aiming for a mid-April high swing around 2,048$ before reaching a February 2023 high near 2,060$. However, the recently refreshed all-time high of around 2,080$ and an upward sloping resistance line from late March, near 2,088$, quickly followed by the rounded figure of 2,100$, could be challenge those who buy Gold then. Conversely, a one-week ascending trendline near $2,017 is ahead of the $2,000 psychological magnet to limit Gold prices short-term declines. Accordingly, the convergence of the 200-bar Exponential Moving Average (EMA) and the previous resistance line from last Wednesday, near $1,989, will be important to watch as it holds the key to a further downtrend. more of XAU/USD. BUY TVC:GOLD : 2026-2024 STOPLOSS: 2018 Take Profit: 2030 Take Profit: 2035 Take Profit: 2045
TVC:GOLDLong
by DNA_TradingFX
2
A 1:5 Risk to Reward Sell on NZUSD (USD will go up) Hello everyone, It has been a while since we had a proper post and we hope to return back to normal moving ahead. The past 6 weeks has seen a massive weakening in the USD which means stocks has strengthened a lot. This is to be expected as markets swings in both directions. We see all the USD pairs are completely overbought. (AUDUSD, NZDUSD, GBPUSD and USDCHF being oversold). This is the moment USD is likely to strengthen and we see the turning point around here. What are waiting for to pull the trigger on NZDUSD? 1) Hoping for it to get to 0.6120 2) Looking for M15 divergence 3) H4 is already overbought 4) Selling against the high off last week. If you are patient (and lucky) you are looking at 0.5875 as the target.
Short
by JD_TeenTrader
SELL EURUSDEuro is at a very tight place right now. This phase is the accumulation phase. A lot of buyers have bought at this level and the previous low. However for the market to move upward it has to take out this liquidity first. I expect a downward momentum today and tomorrow. Mid of the month is when we should expect a trend change. Otherwise keep your targets at 0.9515 stops above 0.9730. Even if the news comes out bad for the dollar I still expect a push down.
Short
by GeminiWealthGroup
2
NZD/USD short to retest lows created during London Generally Bearish on Daily. This was my setup. Price is near 1hr Zone, I defined it as Resistance, someone could've defined it as support but why would we? The HTF's are Bearish. We have confirmation that we have a good chance to drop to the London Low because we have shooting star-like candles rejecting prior 15m S/R zone. We have multiple bear closes past 15m bulls in this pullback structure. I took a risk, in my mind, with the best probability to succeed out of all the pairs I was looking at this morning.
Short
by ShrewdCatfx