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EurUsd Higher on ECB Rates Cut Rumors 🗿Hello traders! EurUsd has wasted no time and is seeing some buying pressure to kick off the week. We are 31 pips from the previous weeks high price as the Eur is being bought ahead of next week's Interest rate announcement by the ECB. Apparently the central bank will be cutting rates and so the market is moving on a "Buy the Rumor and Sell the news " sort of flow. How far can we pull up ahead of next week's announcement? Well we are already up 31 pips.. and our next weekly resistance zone is at 1.09427, or about 63 Pips away. I cant see why not, on this buy the rumor sell the news kind of flow, that we could reach that price level. The monthly candle is bullish after all and we are rejecting the monthly support level . So 1.09427 is our weekly bullish target. For the Short term, I liken pullback scalp buys off 1.08672 or scalp sells off 1.08845 daily level and 1.08945 4hr zone. The Daily candle today closed bullish, in line with the previous Daily candle from Friday.. which was a solid bullish candle in of itself. In our previous analysis, we were biased towards sells but after what the ECB policymakers are saying and the price action so far this week, we must remain flexible in our approach. We did suggest some places to look for longs in our previous analysis and did indeed callout potential longs, in advance, from the daily low of today at 1.08420 1hr support zone. The link for that analysis will be below so go check it out. Otherwise, safe trading everyone!
Long
by ShrewdCatfx
Friday Optimism carries into Monday's trading? ♦️Hello Traders. Welcome back to another Analysis. Last Weekly candle closed down 20 Pips on EurUsd.. which was quite a different picture from the previous 5 weeks. Through the second half of April and throughout most of May we observed alot of optimism and observed a decent rise in EurUsd. This sentiment came to a halt last week as EurUsd pulled down during most of the week as the USD made some gains.. that was until Friday when most of the gains were given up to the Eur as price climbed it's way back up. The 50 pip move down on Thursday, with better than expected PMI numbers for the USD, was corrected in it's entirety on Friday. Now What? Price is in a tight range to begin the week between 1.08524 4hr zone and 1.0845 4hr zone. Well the monthly candle on EurUsd is still quite bullish. It is the End of the month and this last week could see some hectic volatility, so we must be cautious. Either the Monthly candle will keep pushing up or it will pull back and create a larger top wick. We do have a very nice clean traffic area on EurUsd if we can get below 1.0835. We can decrease underneath there for 20 pips at the least down to the 1.08147 Daily Level. Ranges to trade within look quite messy to me to the upside. My Bias to begin this week will be short and we have the weekly candle closure last week to back us up. This doesn't mean that a solid 1hr candle closure off 1.08413 couldn't suggest decent buy scalp opportunities. My bias to begin Monday's trading is a decrease to the Weekly support level 1.08358. Safe trading. Not Financial Advice but purely for General Informational and Educational purposes only.
Short
by ShrewdCatfx
GBPUSD - A Bullish Trend with a Cautionary NoteHey traders! Let's dive into the EUR/USD market analysis. While many are eyeing a shorting opportunity at 1.2743, leveraging RSI Divergence, it's crucial to acknowledge the overarching bullish trend on both daily and weekly charts. Currently, the market is hovering around a critical support level at 1.2723. A 20-pip move might not be substantial, but it can be a telling sign. Here's what to watch out for: If the market bounces from this support level, it could indicate a continued bullish trend. A breakdown below 1.2723 might attract more sellers, potentially leading to a short-term correction. Keep in mind that the bullish trend on higher time frames still holds sway. Let's monitor the market's reaction at this support level before making a move. Stay vigilant, and let's trade wisely!
by RaynLim
EURUSD Analysis: Strategic Approach in Volatility PhaseOn the Weekly Chart, this looks like a regular day strolling down the road of simple support and resistance trading. This is when new traders got it all wrong! On the Weekly Chart, sideway consolidation occurred. When sideway consolidation happens, market expansion, known as a volatility increase phase, will definitely follow. From what we had, at this moment, I'll be more inclined to take a buying opportunity at 1.0842 on the 1-hourly chart than to short at 1.0852. Of course, this is not a sure thing; always plan and follow your trade plan.
Long
by RaynLim
GBPUSD. Levels for intraday trading 1.05.2024During the day you can trade from these price levels. Finding the entry point into a trade is up to you, depending on your trading style and the development of the situation. If you expect any medium-term price movements, then most likely they will start from one of the zones.Relevant to use as a location for installing TP. Levels are valid throughout the day, the date is in the title. The next morning I adjust the levels based on current data and publish a new post. The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :) --------------------------------------- Levels are drawn before the European session, based on volumes and data from the CME. They are used as zones of interest for intraday trading. When approaching a level, a “reaction” is expected, which can be traded for both a rebound and a breakout. The worst option is if we revolve around the level in a flat. Do not reverse the market at every level. If there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern. TV does not allow publishing timeframes smaller than M15.Reactions to levels and the search for entry points are more convenient to look at M5-M1. Don’t forget to like Rocket and Subscribe!!!
by Forex_Hoby
GBPUSD Analysis: Trend Trading Opportunity- Trade Strategy: Trend Trading - Sideway Bounce Setup - Key Levels: Key Support at 1.2461, Target at 1.2502 - Profit Potential: 41 pips (410 USD/lot) Analysis: - Trade Strategy: Trend Trading - Sideway Bounce Setup - Key Levels: Key Support at 1.2461, Target at 1.2502 - Profit Potential: 41 pips (410 USD/lot) Trade Plan: - Long Opportunity: Consider going long at 1.2461 for a trend trading opportunity - Take Profit: Set initial target at 1.2502 for a profit potential of 41 pips - Risk Management: Implement effective risk management techniques to manage potential losses Insights: GBPUSD presents a trend trading opportunity with a Sideway Bounce setup, offering a buying opportunity at the Key Support level of 1.2461. Traders can aim for an initial target at 1.2502, providing a profit potential of 41 pips. It's essential to closely monitor price action and adhere to risk management principles for successful trading outcomes. Share your insights and trade plan below! 📈 Capitalize on the trend trading opportunity presented by GBPUSD, leveraging the Sideway Bounce setup for potential profits within the current market conditions!
Long
by RaynLim
EURUSD Analysis: Short-term Buying OpportunityTrade Strategy: Short-term Buying Opportunity - Key Levels: Buying Opportunity at 1.0679, Take Profit at 1.0722 - Profit Potential: 43 pips (430 USD/lot) Immediate Trade Plan: - Trade Strategy: Short-term Buying Opportunity - Key Levels: Buying Opportunity at 1.0679, Take Profit at 1.0722 - Profit Potential: 43 pips (430 USD/lot) Future Trade Plan: - Buying Opportunity: Consider buying at 1.0679 for a short-term trade - Take Profit: Set initial target at 1.0722 for a profit potential of 43 pips - Shorting Opportunity: Look for shorting opportunity at 1.0740 - Risk Management: Implement effective risk management techniques to manage potential losses Insights: The short-term trade for EURUSD presents a buying opportunity at 1.0679, with an initial target set at 1.0722, offering a profit potential of 43 pips. Traders should remain vigilant and monitor price action closely for any changes in market conditions. Share your trade plan and insights below! 📈 Seize the short-term buying opportunity presented by EURUSD, with potential for profitable trades within the current market conditions!
Long
by RaynLim
TATA COMMUNICATIONS - A swing trade opportunity of 25%Trend - up in all higher time frames. Weekly RSI - Took support at 62 and moving up. Stock has given a bullish penant breakout after consolidating for 5 months - Sep - 2023 to Feb 2024 Retest of the breakout has happened. Now weekly and daily price actions shows the upward momentum. Entry - One may wait for daily previous supply levels - 2015 to be hit and take an entry as per reversal in lower time frame. Purely based on risk management - SL % 1827 - would act as a strong support. 7.5% from current levels.
NSE:TATACOMMLong
by Rugminik
Beginning of Tuesday's trading.. Forex markets 😼Hello traders.. EurUsd is about 87 pips from our monthly support level at 1.057.. not too far. The closest we've come was last Tuesday during the hawkish fed speech. Protecting against higher inflation is indeed important and slowing down economic growth as a result may be the only way. The weekly candle is back to being at Break even. The Daily candle today closed slighty bearish, a doji candle really. We went down during London and retraced the move back p during NY session. TheLow of the day was 4 minutes after New York stock exchange open. We saw a nice continuation of momentum with the new NY 4hr candle, to follow London bearish momentum. However, this was short lived as 1hr candles never quite managed to dig below the 1.06336 weekly support level. It's safe to say at this point that we are ranging and the volatility this week has been low.. but I suppose it's only Monday. End of Monday and around Asian session to begin Tuesday's trading has a tendency to be a turning point in the market for a good run.. How far? not sure.. maybe we can see 30-40 pips down to structural lows and around the weekly level 1.06336 and the Daily level 1.06184. If price pulls up higher, 1.067 could bbe a good entry point for either a small scalp or longer hold back to structural lows as we jsut mentioned. Pay attention to how candles interact with 1.065.. this will give us hints about further direction.
Short
by ShrewdCatfx
Oil Pulls back off the Daily LowsOil decreased during London session as we were anticipating from our last Analysis. We are still anticipating a further decrease in the medium term but in the short term here we may pullback. This is what the price action is telling us as we have pin Bar candles on the 1hr and 4hr charts that printed at our 2 daily support level's 81.22 and 80.64. This suggests some bullishness in the short term and a possible retracment towards our 4hr resistance zone 82.52. Factors that support a Risk-On push include a decreasing Vix on the day, a intraday downtrend on the Gold price suggesting risk on sentiment.
TVC:USOILLong
by ShrewdCatfx
THREE BLACK CROWS appear on the S&P500In the weekly frame on the S&P500 index, there is a pattern called three black crows and it is a bearish pattern that will lead to a downward move in the upcoming weeks. in July and August 2023, the same pattern happened and the market rebounded for two weeks then the downward move began to make the index retrace about 9% As we can see on the chart the index stopped at the Fibonacci support level in August and last week also, so we expect the rebound will be to the 5208 points level and a new correction will begin.
SP:SPXShort
by IsmailAbdulMeguid
EurUsd: Short-Term Eur strength & Pullback possibleHello Traders.. Another week and more price action to anticipate in the Forex market. EurUsd: As we enter the 4th week of April our Monthly candle is still bearish with a solid bearish body. Last week we came very close to a Monthly support level at 1.057. The low of the week was on Tuesday and coincided with a Hawkish Fed speech. The weekly candle closed bullish and we now have a weekly support level at 1.0649. The weekly candle closed a small body doji - looking candle with a larger top wick. The new week gapped up 5 pips. The daily candle's price action from last week looks quite subdued. Looking for buys on EurUsd still apears risky to me as we still have hot jobs data and rising inflation. We had hawkish fed speech last week which means higher potential rates for the USD. This means USD could be increasingly used in the Carry trade, an even better reason to look for USD strength. Not much has changed and yes we can observe a pullback , with Eur Strength. Overall bearish on EurUsd but trading a pullback to the upside is definitely possible. We'll have to see how EurUsd reacts with the Daily resistance level 1.06726. The USD Index ended last week pulling back from a Daily Resistance level.. and we've done exactly that after 8 hours at the beginning of this new week. This could indicate Eur strength in the coming 2 sessions. Although I'm anticpating a higher Vix and lower Oil prices. It may be too early in the week for a Lower EurUsd.. we may observe short term Eur strength as a result.
by ShrewdCatfx
USDCAD Analysis: Shorting Opportunity with Head and Shoulders Se- Trade Strategy: Head and Shoulders Trading - Key Levels: Retest of Right Shoulder at 1.3778 - Profit Potential: Initial target of 50 pips, with potential for further downside Analysis: - Trade Strategy: Shorting Opportunity with Head and Shoulders Setup - Key Levels: Looking for a retest of the right shoulder at 1.3778 or neckline - Profit Potential: Initial target of 50 pips, with potential for greater downside movement Trade Plan: - Shorting Opportunity: Consider shorting upon retest of the right shoulder at 1.3778 or neckline - Profit Target: Initial target set at 50 pips, with potential for further downside movement - Risk Management: Implement effective risk management techniques to mitigate potential losses Insights: The USDCAD presents a compelling shorting opportunity with the formation of a Head and Shoulders pattern on the 4-hourly chart. While the initial target offers a modest profit potential of 50 pips, the broader setup indicates the potential for further downside movement. Exercise caution and closely monitor price action for confirmation of the trading setup. 📉 Seize the shorting opportunity presented by the USDCAD's Head and Shoulders pattern, with potential for significant downside movement beyond the initial target!
Short
by RaynLim
1
GBPJPY Analysis: Sideways Bounce Trading Opportunity- Trade Strategy: Support and Resistance Trading - Key Levels: Resistance at 192.75, Support at 190.37 - Profit Potential: 238 pips (~2,380 USD/lot) Analysis: - Trade Strategy: Sideways Bounce Trading - Key Levels: Identified resistance at 192.75 and support at 190.37 - Profit Potential: Significant profit potential of 238 pips (~2,380 USD/lot) between support and resistance levels Trade Plan: - Selling Opportunity: Consider shorting near resistance level at 192.75 - Buying Opportunity: Look for buying entries near support level at 190.37 - Profit Potential: Utilize the range between support and resistance for profit-taking opportunities Insights: The GBPJPY presents a lucrative sideways bounce trading opportunity for support and resistance traders. With well-defined levels at resistance (192.75) and support (190.37), traders can capitalize on potential price movements within this range. Exercise caution and implement effective risk management strategies. 📈📉 Seize the opportunity presented by the GBPJPY's sideways movement, leveraging support and resistance levels for profitable trading outcomes!
by RaynLim
2
USDJPY Analysis: Bullish Bias Despite Market Volatility- Market Sentiment: Bullish Bias - Weekly Chart Analysis: Violation of Recent Resistance Indicates Strength - Trade Plan: Buying Opportunities Favored over Shorting Analysis: - Market Sentiment: Maintains Bullish Bias on US Dollar, despite market volatility - Weekly Chart Analysis: Notable violation of recent resistance level on the USDJPY Weekly chart - Implications: Market speculation regarding potential BOJ intervention in FX Market - Trade Plan: Prefers buying opportunities over shorting due to pair's independent behavior Trade Plan: - Buying Opportunities: Look for buying opportunities at support levels (e.g., 154.27, 154.12, 153.89) - Support and Resistance Trading: Shorting opportunity at 154.70 on the 1-hourly chart, although not actively pursued Insights: Maintaining a bullish bias on USDJPY despite market volatility, with a focus on buying opportunities over shorting. Preference for buying entries at support levels, while remaining cautious of resistance levels for potential shorting opportunities. Exercise caution and adaptability in response to the pair's independent behavior. 📈📉 Remain vigilant and adaptable in navigating the USDJPY market, prioritizing risk management and flexibility in trade execution!
Long
by RaynLim
USD strength on Fear surrounding Israel Airstrikes 🗒️Hello traders.. Unfortunately, as War Conflict continues in the Middle east, the USD is feeding on the Fear and Uncertainty by acting as a safe haven during the final Asian session of the week. Earlier & During NY today, roughly 20 minutes before NYSE open, at price 1.06638, I created an update to our previous EurUsd Analysis. I mentioned that price may instead be retracing back towards 1.06345. The reasons were clean traffic to the left on the 1hr/4hr, the bearish 4hr candle close(that engulfed the 3 previous 4hr candles), 1hr resistance zone 1.06855 was respected during London Open, and most importantly perhaps was that we created a bearish scenario for a selloff prior to it occuring--> price may close below 1.0669 1hr support zone & do a retest before heading down. This is exactly the scenario that played out. Now here we find oursleves back at the lows of structure and the weekly candle is about break even. No news for the remianing sessions. Anticpating some clean price action to end the week.. Where? Bears need to get past the daily support level at 1.06184 and I dont see that happening tbh bc no red folder data. I can see us ranging and being choppy on this friday so beware. We may increase back to 1.0605 1hr resistance zone for a bullish scenario
by ShrewdCatfx
1
Gold stuggles at the Highs of the weekly range 2,393 🪙Hello traders.. gold has been making all time highs. The last all time high was created with consumer sentiment news that miss forecast for the USD last friday. Since then we've been going sideways and are currently in a 4hr range between 2,393 and 2,360. The weekly candle is bullish & the last 2 daily candles have closed bearish. The 1hr candle is currently bearish during Thursday NYSE as price appears to be rejecting the Daily resistance (2,383) once more. We may retrace back to the bottom of the range at 2,360
FOREXCOM:XAUUSDShort
by ShrewdCatfx
Are Eur/Usd Bulls done yet? 📰Hello traders.. we have another analysis here outlining potential scenarios for intra-day trading EurUsd. Look for 1hr candle closures outside 1.06855 1hr resistance zone and 1.0669 1hr support zone. Look at those ranges we could potentially trade .. up to 1.0712 or if we go down then 1.06345. We have no major news releases left this week except for unemployment claims in the next session.. forecasted to increase slightly and I don't expect any major volatility from this... if anything maybe boost in the direction of the preceding trend leading up to it. I'm looking at higher prices for the next sessions as 1 I made a long analysis on Sunday and we are up since then.. 2 the low of the week coincided with the fed speech on tuesday's NY session.. 3 the daily candle just closed strongly bullish for EurUsd with a wick to fill & bullish momentum. 4 Yes stock markets are getting beat up, signaliing risk-off USD strength sentiment but bond yields on the 10 year were up like 3.5% on the week and are now up 1% as we've had some very strong bullish momentum the past few weeks.
Long
by ShrewdCatfx