Get started

Cfdtrading

US30 Analysis, can support hold for buyers?Today's focus: US30 Pattern – Support point, descending triangle. Possible targets – Downside 31,840 Upside 31,160 Support – 33,033 Resistance – 33,705 Thanks for checking out today’s update. Today’s analysis is over the US30 daily as price sits around support in a descending triangle pattern. Yesterday price broke lower after buyers failed to beat Monday’s high. The debt ceiling issue continues to look like the key issue, with price reacting negatively after no ground was made on Tuesday. This could continue to drive momentum, and bad news could equal downside risk, while a deal could give buyers plenty of drive. This week’s meeting minutes are another factor; traders will be looking for more clues on rates and how the Fed is seeing inflation atm. We are also hoping to hear more about how the banking issues are factoring into the Fed’s view. Thanks for stopping by. Good trading, and have a great day.
EIGHTCAP:US30
by Eightcap
Oil continues to test key resistance after the OPEC surge. Oil continues to hold firm on Wednesday after a strong surge on Tuesday that saw close to two percent added after sellers looked to test the new floor set up by buyers after the stunning gains seen after OPEC's surprise production cuts. Since the news price has sat in a range between $79.65 and HKEX:81 , maybe we would have seen a new test lower to see how firm the gap was. No, buyers made a new push yesterday, breaking out of the mini range, but now continue to be held back at key resistance. Early in the LON session, buyers are trying to push, but resistance remains in play for now. Looking at yesterday's momentum, if we can see it continue, could this be the move that finally clears this level of resistance? We feel that if we do see a break, this could open up buying, and there's a chance we could see the low 90s possibly tested. The drivers behind the rally are firm, but traders will need to keep an eye on the US response if we see oil trading back at certain levels, as this will start to impact their continuing war with inflation. What do you think? Could we see USOUSD trading back at HKEX:83 - HKEX:85 this week or next? Good trading.
EIGHTCAP:USOUSDLong
by Eightcap
US30 starting to stall at resistance. Hi traders, this is just a general observation, not a trade idea. Tonight we noticed that the US30 has started to fade at a previous level of resistance. With the Core PCE to come, could an expected jump to the upside add to the small seller momentum we are starting to see? This week we have seen some decent buying so far, but could today’s action be a small hint at profit-taking starting to come in? If we see new buyer demand appear and price makes a new high today, then this idea could be canceled. If we do see a pullback today and it remains at or above the trendline and moving average, this could set up a possible buy idea next week if buyer momentum continues. Have a great weekend and good trading.
EIGHTCAP:US30Short
by Eightcap
Will the FOMC continue the US30s run higher?Traders will be looking forward to today’s FOMC seeking future direction on rates as inflation starts to cool but remains high. The new banking crisis has also significantly influenced the markets over the last several weeks. Stocks have been one of the markets hardest hit by the uncertainty thrown up by the banking crisis. The US30, in particular, has been hard hit, and sellers cut just over 7% off the index in four weeks. Looking at recent price action, we can see some buyer confidence returning after bailouts, and political action was taken to help stop the rout. The US30 held support and broke its tight range yesterday with a 0.98% rally. Inflation and rates had been key influences before the banking issues arose. Today’s FOMC could play an important role in the short term. Rates are now basically priced in with a 25-point increase, and Fed trackers see a 15% chance of a hold at an 85% chance of a 25-point increase. The statement for us is the important part unless we see a hold which would be unexpected and should give the US30 a boost through its trendline. If the Fed remains hawkish and discounts the banking issues, this could set off selling with worry over higher rates and possible inaction to support the sector. If the message is more to the dovish side, we will be looking for further upside from the new up leg, and hopefully, a break of the current trend could show signs that the correction could be starting to wain. Minor resistance remains at 32,600, and support is seen at 31,850. Price continues to hold a series of LHs and LLs, but a new push higher could break that pattern. The short term comes down to the fed message, which will be released at 05:00 am AEDT with the Federal funds rate. The press conference follows at 05:30 am.
EIGHTCAP:US30Long
by Eightcap
Can GER30 buyers resume the trend? Hi, and welcome to today's GER30 update. Yesterday buyers fought back from the range low to post a solid session that could be stage one in a new leg higher that could continue the current trend. Buyers still have some work to do. We want to see a break of yesterday's high and a break of the current resistance and highs set last week. A new trend point has started forming, but buyers still have to confirm it. We can see price has started to confirm, and the moving average and CCI are supporting possible higher prices, but for now, buyers need to take that final step. A piece of key data may have an impact, and that's today's US CPI data. The CPI data will be released tomorrow at 12:30 am AEDT. If the data matches or comes in lower than expected, this could boost stocks. If it comes in worse than expected, this could favor sellers. 15,500 is the current resistance, and support is seen at 15,260. If buyers can break yesterday's high, that's a solid first sign, but we feel the market will be waiting on the CPI data before we see some real direction. Good trading.
EIGHTCAP:GER30Long
by Eightcap
US30 thoughts post CPI pre FOMCHi, and thanks for taking the time to look at our latest update. We hope everyone has been hitting some trade wins. Today we are looking at the US30 after its wild session after yesterday's US CPI data. The data came in below expectations, and this continues the run of lower-than-expected releases. This remains a touch confusing, as last week, we saw the PPI increase. Inflation sits at 7.1% y/y. Is this enough for the fed to set a slightly more dovish stance this week? Message from the fed has softened, but we still expect to see rates come in 50 points higher this week. This is a decrease on previous meetings, so it's a softening in that area if it does happen. The gambler in me wonders if we could see 25 points before Christmas, but the realist thinks we will most likely see the expected 50 points. The US30 saw one heck of a fade after the CPI data, and that does make me wonder if the market is feeling edgy regarding the feds' message this week, which may coincide with a high point in the rally. For now, we see resistance at 34,600 and at 35,270. Will that feds message this meeting cement buyer confidence, or could it start a new push lower if the message moves away from the softening tone we have started to see develop? The FOMC, funds rate, statement and economic projections will be released tomorrow morning AEDT time at 6:00 am, followed by the press conference at 6:30 am.
EIGHTCAP:US30
by Eightcap
Oil reverses losses. Could we see a push higher? Hi TradingView community, today’s focus is on oil as price has, for now, reversed seller momentum and could be starting to form a support bounce. Overall the price remains range-bound between 93.50 and 83.65. But price continues to trade outside of the last major downtrend, and we have two higher lows after the September low. Today sellers took control in the Asian session, but with a risk asset recovery into the LON session, we have also seen oil’s fortunes reverse back to the buyer side. We can see a solid area for demand from and below support, which lines up with the higher lows. Today’s reversal maintains 85.40 support and will continue to back up yesterday’s higher low if we see a higher close today. These are all good signs, and if buyers can continue, we will be looking to see if they can retest the supply area. A break of supply could set off a new leg higher that we hope could retest resistance. If buyers fail today and we see a new move back below 85.40 support, this will keep us on the lines as we wait to see if supply can continue to hold. EIA crude inventories are due Thursday morning at 2:30 am AEDT. Have a great Wednesday and good trading
EIGHTCAP:USOUSDLong
by Eightcap
US30 makes it two in a row, but do we need more evidence?What a start to the week and month we are seeing so far, traders. So far, buyers have added 5.52% to the US30, taking prices back to levels not seen since last month. Yes, it is great to see, but should we start thinking bottom? The UN is warning that we could see a global recession, with developing nations possibly seeing the brunt of the hurt. JP Morgan is also advising this might not be a bottom unless we see certain factors met. What has been driving the selling, Inflation, rising rates, U.S. and global recession fears? Have these factors gone? US-wise, the Fed remains hawkish, and Inflation remains in play. It is not uncommon to see sharp counter rallies in downtrends, and we need to be in tune with the market to either not be sucked in early or spot a potential turn. Bulls are definitely back in charge in the short-term, but it’s the next reaction lower that could give us some key evidence in if we are going to see a potential turn. A new higher low followed by a break of the last high would be a very good sign that a new short-term trend is starting to form. If we see a new move back down to or below the last low would be a worry that the current trend could continue lower. This Friday’s U.S. employment data could also be a factor for the current recovery, and we feel that traders will be paying attention to its release this Friday at 8:30 am EST. Thanks for tuning in for today's update. We like to hear from you, so please feel free to drop us a comment. We also run weekly webinars with guest analysts.
EIGHTCAP:US30Long
by Eightcap
EURNZD Double bottom BreakoutThe idea here is about Forex: Euro/New Zealand Dollar (EURNZD). My view is bullish short term for the above mentioned pair due to the below observed technical factors. Points as per TA on a Weekly Chart: 1. Double Bottom pattern completed and neckline broken on weekly chart and the target goes the same distance as the height of the pattern, up from the neckline as below: 2. Broken out of downtrend long back with false breakout and breakdown on weekly chart as below: 3. Support Established on 200 EMA as below : 4. Possible Butterfly pattern CD leg under formation and min Fibonacci distance from XD is 1.272 as below which can is considered as future target price: 5. Trading above 20 & 200 EMA on Daily chart. 6. Kumo Twist & Breakout on a daily chart is Strong and on weekly kumo twist is neutral & Kumo breakout is currently consolidating. 7. RSI is at 73.14 on a daily and 66.31 on weekly chart at the time of publishing. 8. MACD way above signal line on weekly & daily chart. 9. Hull Moving Average & other Moving average is a strong Buy Signal on Daily, Weekly & monthly chart. 10. ADX is at 54.46 on daily chart (ADX Value above 50 is considered as very strong trend) & 13.19 on weekly chart (ADX value below 25 is considered as absent or weak trend). 11. Volume Spike in weekly chart signals strong Momentum. Projected targets provided in chart. Stop Loss: provided in Chart. Note: Please bear with me if there is anything which I might have missed. Since, I am publishing my first TA on Forex. Disclaimer: “The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment”. Do you like my TA & ideas!! Want to keep yourself updated with current market action? Then don’t forget boost & to subscribe for more analysis. Do leave your valuable feedback & comments for any improvisations. Cheers.
Long
by Tron029
2
WTI CRUDE OIL US OIL DROP MORE ?Hey traders! In the US OIL Market structure we see after drop of oil prices on 14 sep from 90$ per barrell price is now holding its support area which is 84$. What we see in market structure? Price breakout its market structure in 2h timeframe and show the selling pressure at 86$ which is very stong support for usoil now price again come to this level now as a resistance and respect this level/ also bearish flag formation also indicate that we see selling continuation in the price of us crude oil on monday market opening. Price is near its support and test multiple time and it show the weakness of support we see on monday and coming week/ this week also fed rates are coming so banks and institution smart money also looking for fresh data coming from US/ TECHNICALLY US OIL is showing selling pressure after the breakout of bear flag we go for the short position sell in wti us oil for the target of next pivot point support 82.40 level and next the low of 08 sep 81.36 level which is strong support we see in oil price. Our stop loss is in the monday high or the previous 2h candle high or above the 2h previous candle.
TVC:USOILShort
by naumanfx_
2
US30, are sellers getting ready to test 30,550? In today’s video, we are looking at the US30. We start with a longer-term view and move down to the short term. Overall, the market continues to trade in a corrective phase that could be called a bear market. The issue we see here was the last relief rally that broke the downtrend. While it did upset the pattern of the downtrend, sellers now look to have broken that trend, and Tuesday’s session could be a bit more than an exhaustion bar as sellers so far today have made a new LL maintaining a normal pattern of trend. After yesterday’s latest move lower, could we be set to see 30,550 retested by sellers? That could become an important point if buyers can hold it. We will then look to see if a new LH and retest of the area could re-confirmed. Otherwise, a new break could set up a new move that could test the 30,000 area. A lot will depend on the current inflation outlook guided by future data and the Fed. Interesting times. We love hearing from you, so please drop us a comment on your thoughts. Enjoy your Friday and good trading.
EIGHTCAP:US30Short
by Eightcap
GER30 are sellers starting to take control? Hi, and welcome to Friday's update. In today's video, we are focusing on the GER30 daily chart. Price action and the OBV indicator are starting to show signs that sellers could be gaining short-term control over the market. Looking at price we can see that buyers made a failed breakout attempt, and sellers came in strong on the next session with an engulfing bar. Yesterday buyers held a rally but closed well-off highs showing plenty of rejection. Today, sellers have started a new move but still have a little work to do. We would like to see sellers continue to push lower and break support seen at 13,640. A break and close below yesterday's low could be the trigger for a new leg lower if sellers can hold the move. If buyers can regain control and close price back above 13,750, we would be looking for more evidence before we continue to think that the market is set to break lower. What are your thoughts? We also like to hear feedback from our readers. Thanks for stopping by. We hope you are all enjoying your Friday and good trading.
EIGHTCAP:GER30Short
by Eightcap
Could CPI data help the US30 confirm a continuation? Hi, and welcome to today’s update. In today’s video update, we’re looking at the US30 and wondering if today’s CPI could break the consolidation deadlock we are currently seeing price sitting in. Price continues to be held in an ascending triangle pattern, and in uptrends, these are typically seen as continuation patterns. We can clearly see that price remains in an uptrend, so if we see better than expected CPI data today, could that be a driver that sets off buyers? Better than expected data could tell the market that peak inflation could be here and that rates could move into a holding phase or at least see a smaller increase. But if we see worse than expected data, this could set the pattern up to fail, and we could see a new break lower. For now, we will look for the current trend to remain in play until we see further price action telling us otherwise. US CPI data is due out at 8:30 am EST. Good trading, and enjoy your Wednesday.
EIGHTCAP:US30Long
by Eightcap
Oil back at key support who will win this battle?Hi all, thanks for checking in for Wednesday's video analysis on oil. Once again, we find ourselves back at key support. This level has stood since March, and till today sellers haven't been able to break through this level. For the last two sessions, sellers have tried and failed at breaking $95.20 support, but the question now is, do buyers still have the numbers to defend a new assault? Monday saw a strong move down by sellers, but they continue to be blocked at support. Things above are not much clearer as resistance continues to look firm from $101-$102. Our question today is will we see a new break lower or will support hold, and with price now starting to be squeezed, could this become a defining point that continues the current downtrend or sprouts a new reversal? One thing I didn't cover in today's video is the danger of breakout selling at this point. The current point looks as good as any for a bear trap after a false breakout out lower, as we have already seen one in July. Regardless of the breakout direction, we see it might be a good idea to wait for a new LH or HL to gauge that the move is valid and won't get sucked back into the range. Thanks for watching and reading. We hope you enjoy the rest of your day. Good trading
EIGHTCAP:USOUSD
by Eightcap
1