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Gold: Downward trend continue to maintain in the near futureGold is facing difficulties in capitalizing on the previous day's gains and is oscillating within a narrow range as it enters the European trading session on Wednesday. Global risk sentiment continues to be supported by reduced concerns over escalating geopolitical tensions in the Middle East. This is attributed to the decline in the US dollar (USD) price, coupled with reinforced expectations from the Federal Reserve. From a technical perspective, the upward trend remains intact, but gold prices are currently showing signs of correction. It is anticipated that there will be a retracement towards Fibonacci's support level in the near future.
OANDA:XAUUSD
by Stephen_Anders
4
EURUSD H4 27 March 2024🇪🇺 EUR/USD, H4 🇺🇸 27 March 2024 The EUR/USD pair experienced a modest retracement after bouncing back from its recent low around 1.0800. This retracement was driven by a strengthening of the dollar yesterday, supported by upbeat U.S. economic data. In contrast, the euro lacked significant catalysts for further gains. Moreover, with the euro's Consumer Price Index (CPI) being lower than that of the U.S. and UK, market expectations of a potential rate cut by the European Central Bank (ECB) have been growing, adding downward pressure on the euro. EUR/USD retraced from its technical rebound, suggesting the pair remain trading with its long-term bearish trajectory. Suggests the pair remain trading with bearish momentum. Resistance level: 1.0866, 1.0955📉 Support level: 1.0780, 1.0700📈
Short
by top_fx
GBPUSD H4 27 March 2024GBP/USD, H4 27 March 2024 The GBP/USD pair maintained its bearish trajectory following a brief technical rebound earlier in the week. This decline was primarily attributed to positive U.S. economic data, particularly the increase in Durable Goods Orders from-6.9% to 1.4% in February. However, the downward movement was somewhat tempered by a hawkish stance from the Bank of England's Mann, who indicated a more optimistic view on the UK's wage growth compared to the U.S. and EU. GBP/USD continues to trade lower after a technical rebound. Suggesting that the bearish momentum is overwhelming. Resistance level: 1.2710, 1.2770📉 Support level: 1.2530, 1.2440📈
Short
by top_fx
GBPUSD H4 20 March 2024GBP/USD, H4 20 March 2024 The GBP/USD pair experienced a slight recovery from yesterday's lows but continued to exhibit weakness against the dollar. The market's hawkish expectations reinforced the dollar's strength, particularly in response to last week's robust U.S. Producer Price Index (PPI) reading. Investor focus now turns to the U.K.'s Consumer Price Index (CPI) reading, scheduled for release today, followed by the Federal Open Market Committee (FOMC) interest rate decision. Both sets of data are anticipated to significantly influence the price dynamics of the GBP/USD pair. GBP/USD recorded a rebound but remains trading in a bearish trajectory. Suggesting that the pair remains trading with bearish momentum. Resistance level: 1.2780, 1.2880📉 Support level: 1.2630, 1.2530📈
Short
by top_fx
DOLLAR_INDX,DXY H4 20 March 2024💵 DOLLAR_INDX, H4 💵 20 March 2024 Following the yen's selloff, investors sought refuge in the safe-haven dollar, resulting in positive gains. With a flurry of central bank decisions dominating currency markets, particularly the Federal Reserve's upcoming announcement, market focus remains keenly on potential interest rate adjustments and monetary policy statements. Expectations lean towards the Fed maintaining its current interest rate range of 5.25% to 5.50%, while closely monitoring the bank's guidance for future actions. The Dollar Index is trading higher following the prior breakout above the previous resistance level. Suggesting the index might experience technical correction. Resistance level: 104.45, 104.95📉 Support level:103.70, 103.05📈
TVC:DXY
by top_fx
AUDUSD H4 18 March 2024AUD/USD, H4 18 March 2024 The AUD/USD pair faced significant pressure from the robust U.S. dollar and witnessed a sharp decline in the previous session. However, the pair managed to find support ahead of the upcoming RBA interest rate decision scheduled for tomorrow (March 19th). With inflation in Australia remaining elevated, the market anticipates that the RBA will maintain its current interest rate level to mitigate inflationary pressures and prevent economic recession. AUD/USD is consolidating at near 0.6560 levels, suggesting a potential trend reversal for the pair. Suggesting the pair's bearish momentum remains intact. Resistance level: 0.6560, 0.6617📉 Support level: 0.6540, 0.6485📈
Short
by top_fx
EURUSD H4 18 March 2024EUR/USD, H4 18 March 2024 The EUR/USD pair experienced a significant decline in the recent session and is currently hovering above the 1.0866 level. Market attention is focused on the Eurozone's CPI reading, which is scheduled for later today. Projections suggest that the CPI reading may come in lower than the previous figure, signalling a potential easing in inflationary pressures. If the actual CPI reading falls below expectations, it could exert additional downward pressure on the pair. EUR/USD has found support and consolidation after its significant plunge from the last session. Suggesting the pair's bearish momentum remains intact. Resistance level: 1.0960, 1.1040📉 Support level: 1.0870, 1.0775📈
Short
by top_fx
GBPUSD H4 18 March 2024GBP/USD, H4 18 March 2024 The GBP/USD pair faced pressure from the strengthening dollar following the release of higher-than-expected PPI figures last week. Expectations are for the pair to experience notable fluctuations this week, with several significant events on the calendar likely to influence its direction. The upcoming FOMC interest rate decision on Wednesday and the BoE interest rate decision on Thursday are both anticipated to be key drivers for the pair's movement. Traders will closely monitor these events for insights into potential shifts in monetary policy and their implications for the GBP/USD exchange rate. GBP/USD is trading in a bearish trajectory but is currently supported at the above 1.2710 level. Suggesting the pair remains trading with bearish momentum. Resistance level: 1.2780, 1.2880📉 Support level: 1.2710, 1.2630📈
Short
by top_fx
GBPCHF - Over-Bought Zone Again ❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 GBPCHF has been overall bearish, trading within the falling wedge pattern in blue. At present, GBPCHF is undergoing a correction phase and it is currently approaching the upper blue trendline acting as a non-horizontal resistance. Moreover, it is retesting a strong resistance zone marked in red. 🏹 Thus, the highlighted blue circle is a strong area to look for sell setup s as it is the intersection of the red support and upper blue trendline. 📚 As per my trading style: As #GBPCHF is around the blue circle zone, I will be looking for bearish reversal setups (like a top bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
Gold Update 5- TUE 13 JuneHi All, Quick Update: I took TP1 & closed trade yesterday. Today: I did re enter at same level entry level @ 1961.150 & took TP1 at 1951.380 with a profit 9187 pips on the micro account. Momentum is lost I guess for today … Gold market goes sideways & I’m really weary of it. It could loose strength and start moving totally opposite. As much as I’m aware set up still valid, but… I do treat market with a caution, because of pretty strong S/R levels & some signs of possible reversal on 1H & 4H charts. We can see triangle formation with neutral direction… Even if the market going to loose steam I’m not upset so much because… TP1 - 8431 pips yesterday TP1 - 9187 pips today In another words TP2 pip targets achieved in 2 trades & Total of 17.618 pips on micro account cleared up already 7 trades won in row… Have a nice evening , time to relax ;)
OANDA:XAUUSD
by G-money2022
1