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SPX500: Price discussion pre-US CPI dataToday's focus: SPX500 Pattern – Continuation Support – 5211 Resistance – 5267 Hi, traders. Thanks for tuning in for today's update. Today, we are looking at SPX500 on its daily chart. Today, we wonder if the SPX500 can maintain its current bullish bias and possibly test or break all-time highs. Yesterday, buyers fought back after the PPI data, helped by comments from Fed Chair Powell. Will we see retail sales and US CPI match or drop below data that is mainly expected to come in lower? Will this back up comments that maintained buyer hopes yesterday? On the other side of the coin, if data comes in higher, could this set off some sharp selling as buyers may find themselves in a bull trap? It could be an interesting CPI data today. Good trading.
EIGHTCAP:SPX500
by Eightcap
Gold: Lower high confirming? Today's focus: Gold Pattern – Lower High swing point Support – 2290.50 to 2315 Resistance – 2338.40 Hi, traders. Thanks for tuning in for today's update. Today, we are looking at Gold on its daily chart. Do we have a new swing lower in play after sellers formed a lower high? This could be the case, but we still need some confirmation. In today's video, we have run over our thoughts on the price and possibilities we are looking at. Currently, the USD does not influence Gold too much, but we have the FOMC and NFP this week. Keep an on these releases. Good trading.
EIGHTCAP:XAUUSDShort
by Eightcap
Gold: Thoughts and AnalysisToday's focus: Gold Pattern – Correctional phase. Support – Resistance – $2394 Hi, traders. Thanks for tuning in for today's update. Today, we are looking at Gold on the daily chart. We have reviewed recent price actions and our thoughts on what we are seeing and looking for moving forward. Is this just a bout of profit-taking that will kick off a new trend? The next rally is key for us and could give us signs depending on what we see from price. Good trading.
EIGHTCAP:XAUUSDLong
by Eightcap
Bitcoin: is price set to get cheaper or.....?Today's focus: BTCUSD Pattern – Range, seller test. Support – 62,000 area Resistance – 73,000 area Hi, traders; thanks for tuning in for today's update. Today, we are looking at BTC on the daily. With sellers continuing to check buyers, it continues to look like we could see a new move at support. But for now, buyers continue to hold firm from around the 62,000 area. We have run over a few scenarios. Could we see a move-through support to test the next lower Fibb point? Or will we see support contnue to hold the current range pattern? Good trading.
EIGHTCAP:BTCUSDShort
by Eightcap
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[EDU-Bite Sized Mini Series] 5 Ways that you can trade Forex!Hello Fellow traders! Welcome to another bite sized Mini series on forex! I hope that these info can open up your interest in forex trading and understand more about forex market! Trading in the forex market offers various opportunities for investors to capitalize on currency price movements and profit from exchange rate fluctuations. One of the most common ways to trade forex is through the spot forex market , where currencies are traded for immediate delivery at the current market price. Spot forex trading involves buying one currency while simultaneously selling another, with the aim of profiting from changes in exchange rates. Another popular method of trading forex is through currency futures , which are standardized contracts traded on regulated exchanges. Currency futures allow traders to speculate on the future price of a currency pair and hedge against currency risk (if any). These contracts have predetermined expiration dates and are settled at a future date based on the difference between the contract price and the market price. Thirdly, venturing elsewhere , we can take a look at Currency Options ! Currency options provide traders with the right, but not the obligation, to buy or sell a currency pair at a predetermined price within a specified period. Options offer flexibility and limited risk, making them attractive for traders seeking to manage their exposure to currency fluctuations. Options can be used for hedging purposes or to speculate on future price movements. Forex spot betting , also known as spread betting, is a derivative product that allows traders to speculate on currency price movements without owning the underlying asset. Instead of trading actual currencies, traders place bets on whether the price of a currency pair will rise or fall within a certain time frame. Spread betting offers tax advantages in some jurisdictions and allows traders to leverage their positions. In addition to these methods, forex trading can also involve other financial instruments such as contracts for difference (CFDs) , which allow traders to profit from price movements without owning the underlying asset. CFDs offer leverage and the ability to trade on margin, enabling traders to amplify their returns but also increasing their risk exposure. Overall, trading in the forex market offers a diverse range of opportunities for investors, with various instruments and strategies available to suit different trading styles and risk preferences. Whether trading spot forex, currency futures, options, or derivatives like CFDs and spread betting, traders should conduct thorough research, develop a solid trading plan, and employ risk management techniques to enhance their chances of success in the forex market. Thank you for your time and hope you have enjoyed the content and if you do so please leave a thumbs up or a comment if you have any suggestions to make this better! Do check out the other links if you missed out on the other parts of this Forex Mini Series i put up for all (FREE)!
Education
by Shadowing_The_Big_Boys
US30: Thoughts and Analysis post-CPIToday's focus: US30 Pattern – Consolidation range Support – 38,550 Resistance – 39,165 Hi, traders; thanks for tuning in for today's update. Today, we are looking at the US30 daily. Yesterday's CPI didn't cause any serious moves but did show that inflation remains stubborn. Today, we have run over what we are watching on the US30 and the current main levels that are forming a price pattern. Will we see a new test and break of resistance, or could we be in for further consolidation? Good trading.
EIGHTCAP:US30Long
by Eightcap
GOLD: Thoughts and AnalysisToday's focus: GOLD Pattern – Channel Test Support – 2023 - 2020 Resistance – 2035.80 - 2055.60 Hi, traders; thanks for tuning in for today's update. Today, we are looking at Gold on the daily chart. Gold saw a solid session to end last week but failed to break its price channel. Will we see the channel hold price and possibly send it back to the bottom on the pattern? Or could we see the current short-term bull run contnue to push higher with a break out of the the channel? The USD could play a role in this picture. Currently, it is fought back from a piercing low, but is that a true sign of demand or just a short-term bleep before sellers start a new push? Good trading.
EIGHTCAP:XAUUSDLong
by Eightcap
Silver: Thoughts and AnalysisToday's focus: Silver Pattern – Breakout test. Support – 21.90, 22.84 Resistance – 23,45 23.19 Hi, traders; thanks for tuning in for today's update. Today, we are looking at Silver on the daily chart. Looking at Silver, we see that price continues to pull back after breaking out of a triangle-based squeeze pattern. This is fine after a breakout but we want to see 22.84 hold as support for buyers. If it does, we will look for a move to retest resistance, set up a range break, and possibly confirm a new up trend. If sellers break 22.84 support, this could be a worry, and if other factors weigh in, like metals sector selling and or a firmer USD, this could lead to deeper tests to the downside. Do you think buyers can hold and set up a new push higher? Good trading.
EIGHTCAP:XAGUSDLong
by Eightcap