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AUDUSD Near Its 6-Month HighHi Traders! AUDUSD is having a strong finish to end the year and is targeting the 6-month high at 0.68948. Here are the details: After the double top at 0.68948 six months ago, AUDUSD was in a bear market for two months and then went into a range zone for three months. Last month, the market finally broke the 0.65175 range zone resistance and has been in a bull market ever since. We have a bullish view on this pair also in our long-term idea, as on the 1W chart, there has been a triangle breakout above the resistance trendline. The strategy here is to buy the market dips to target the six-month high at 0.68948. Preferred Direction: Buy Target Level: 0.68948 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX
NZDUSD Short Near Monthly HighHi Traders! NZDUSD is testing the monthly high for the first time, and there is an opportunity for a short entry back to the support level. Here are the details: The monthly high at 0.62498 is the key level here, and as the market is testing it for the first time, we are looking for the resistance level to hold. The longer the market holds below 0.62498, the more likely it is to pull back. Preferred Direction: Sell Entry Level: 0.62474 Stop Level: 0.65089 Target Level: 0.61809 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
11
USDCAD Approaching The 3-Month NecklineHi Traders! USDCAD has formed a head-and-shoulders pattern and is approaching the neckline. Here are the details: There is a current lack of buyers in the market, and the market is trending down with swings of lower highs and lower lows. Our plan is to sell rallies looking for a break below the neckline and target the 3-month low at the 1.33802 level. Preferred Direction: Sell Entry Level: 1.35738 Stop Level: 1.36663 Target Level: 1.33802 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
4
AUDUSD Yearly Trendline BrokenHi Traders! AUDUSD has broken its yearly trendline resistance as the bulls have taken over. Here are the details: The yearly trendline is now broken. Since the break and close above the 20 EMA, the price action has looked very bullish. Our plan is to buy the market dips by looking for an entry near the trendline resistance and an exit near the mid-year range resistance zone. Preferred Direction: Buy Entry Level: 0.66532 Stop Level: 0.65089 Target Level: 0.69418 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX
6
SPX Trading Plan & ProjectionHi Traders! SPX looks to have confirmed the support test. There is a long opportunity near the support level of 4541.25 for a potential break above the five-month resistance at 4607.07. Here are the details: The market has comfortably held above the 4541.25 level for more than a week. Preferred Direction: Buy Entry Level: 4554.73 Stop Level: 4498.97 Target Level: 4667.55 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
SP:SPXLong
by BluetonaFX
GBPUSD Weakness ContinuesHi Traders! GBPUSD continues its bearish outlook, and further downside momentum looks very likely. Here are the details: The market is trending down, with longer swings consisting of lower highs and lower lows. The previous support level of 1.26034 has been broken, and the market may go back to below the 1.25000 level. Preferred Direction: Sell Entry Level: 1.25772 Stop Level: 1.26213 Target Level: 1.24890 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
BluetonaFX - AUDUSD Double Bottom OpportunityHi Traders! AUDUSD looks bullish. There is a double bottom forming on the chart, and there are opportunities for long entires. Here are the details: The market is currently holding above the price rejection support level of 0.65710. Preferred Direction: Buy Entry Level: 0.65737 Stop Level: 0.65494 Target Level: 0.66302 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX
BluetonaFX - GBPUSD Double Top OpportunityHi Traders! GBPUSD looks bearish. There is a double top forming on the chart, and there are opportunities for short entires. Here are the details: The market is holding below the swing high resistance at 1.27466. Preferred Direction: Sell Entry Level: 1.27069 Stop Level: 1.28375 Profit Level: 1.24325 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
2
BluetonaFX - SPX Forecast Ahead of Fed SpeechHi Traders! SPX is trading near its five-month high at 4607.07, and with Fed Chair Powell speaking later, the market could reach this level by the end of the trading week. Price Action 📊 After the break and close of the previous resistance at 4541.25, the market has refused to go back below this level for the time being, and an ascending price channel has started to form. This indicates that the bulls are currently in control. 4607.07 is the five-month high, and this is the next most likely target the longer we stay above 4541.25. Fundamental Analysis 📰 Later today, we have Fed Chair Powell speaking; therefore, we must be wary of his speech as he will mostly likely speak about the US' inflation situation, interest rates, and plans for the economy leading up to 2024. Support 📉 4541.25: PREVIOUS RESISTANCE BREAK Resistance 📈 4607.07: FIVE-MONTH HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
SP:SPXLong
by BluetonaFX
BluetonaFX - SILVER Targeting Five-Month HighHi Traders! Silver is trading with bullish momentum after its ascending triangle break and is approaching its five-month high at 25.258. Price Action 📊 After the break and close above the 20 EMA, the market has been trading with bullish momentum and then broke above the ascending triangle's resistance. We are looking for further continuation towards the five-month high at 25.258, and our plan is to buy market dips. Fundamental Analysis 📰 Important market events this week that could increase the volatility in the US dollar and therefore in commodity prices are likely to be the ISM data and the Federal Reserve's preferred gauge of inflation, the Core PCE data. We will also have US GDP later in the week, and to round off the week, Fed Chair Powell will be speaking. Support 📉 23.556: PREVIOUS DAY'S LOW Resistance 📈 25.258: FIVE-MONTH HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
CAPITALCOM:SILVERLong
by BluetonaFX
BluetonaFX - USDJPY Further Pressure MountingHi Traders! There is further downside potential on the USDJPY 4H chart. The current monthly low at 141.152 looks to be the next likely target for a possible re-test of the level. Price Action 📊 The price action looks bearish, the market swings are getting lower, and the market has been below the 20 EMA for the past week. As long as the market remains below the 20 EMA, our plan is to sell rallies to target exits near 147.152. Fundamental Analysis 📰 Today we have six FOMC members speaking, and traders will be keeping an eye on their comments regarding inflation and interest rates. Other important market events this week that could increase the volatility in the US dollar are likely to be the ISM data and the Federal Reserve's preferred gauge of inflation, the Core PCE data. We will also have US GDP later in the week, and to round off the week, Fed Chair Powell will be speaking. Support 📉 147.968: WEEKLY LOW 147.152: MONTHLY LOW Resistance 📈 148.832: WEEKLY HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
BluetonaFX - GBPUSD Pullback To Previous Resistance BreakHi Traders! GBPUSD looks to be on a pullback after breaking and closing above the previous resistance, and there are opportunities for short entries to take advantage of the potential pullback to target levels near the previous resistance break. Price Action 📊 After the initial break and close above the previous resistance at 1.24286, the market rallied to find new resistance near the swing high resistance level near 1.27466. If the market holds here, the pattern will become a double-top pattern, which is bearish, so this will also support our view. Our plan here is to sell rallies and look for exits near the previous resistance break at 1.24286 and the 20 EMA. Fundamental Analysis 📰 Later today, we have BoE Governor Bailey speaking; therefore, we must be wary of his speech, as what he says may be potentially volatile for GBP pairs. Support 📉 1.26068: PREVIOUS DAY'S LOW 1.24286: PREVIOUS RESISTANCE BREAK Resistance 📈 1.27466: SWING HIGH RESISTANCE Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
2
BluetonaFX - AUDUSD More Upside Potential After Resistance BreakHi Traders! AUDUSD continues to trade with bullish momentum, and there is potential for further upside targets as the market has broken above its three-month range zone. Price Action 📊 After breaking above the range zone resistance at 0.65230, the market re-tested the resistance break as support, and the support held successfully. The price action looks very bullish, and our plan is to buy market dips to target further upsides. Fundamental Analysis 📰 The minutes from the November 7th Reserve Bank of Australia meeting revealed a very close call to increase rates by another 25 basis points with the goal of curbing inflation. Governor Bullock warned that prices are ‘rising strongly for the majority of the goods and services we all consume.’ She also suggested that interest rates in Australia would remain high. Support 📉 0.65230: PREVIOUS RANGE ZONE RESISTANCE Resistance 📈 0.65896: WEEKLY HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX
BluetonaFX - Bullish Outlook for GBUSDHi Traders! GBPUSD continues to trade with bullish momentum and looks to be targeting the previous strong support level from August at 1.26148, which is now resistance. Price Action 📊 After breaking above the descending price channel, the market is now in an ascending price channel, and the price action looks completely bullish with higher market swings and trading well above the 20 EMA. Fundamental Analysis 📰 Bank of England Governor Andrew Bailey warned earlier this week that the central bank may have to raise interest rates again and that the general cost of living remains an upside risk to the inflation outlook. The Flash Manufacturing and Flash Services PMI came out better than expected; therefore, this does relieve some pressure on the inflation outlook for the GBP. Support 📉 1.24492: PREVIOUS DAY'S LOW Resistance 📈 1.26146: AUGUST 2023'S MAJOR SUPPORT Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX
BluetonaFX - USDJPY Tumbling After Failed Record High BreakHi Traders! The 151.946 apex level proved to be too strong and there is a now potential double top pattern on the USDJPY 1W chart after the market failed to break and close above 151.946. Price Action 📊 After the initial break and close above the previous strong resistance level at 145.073, the market traded with continuous bullish momentum to target the psychological 150 handle and then the apex level, but the market seems to have run out of steam and is rapidly pulling back towards 145.073. Fundamental Analysis 📰 We have the FOMC minutes meeting today, and depending on what is revealed in the minutes meeting, we have further downsides this week for the US dollar.   Support 📉 146.711: 20 EMA 145.073: PREVIOUS RANGE ZONE RESISTANCE Resistance 📈 149.991: WEEKLY HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
BluetonaFX - SPX Near 10 Week HighHi Traders! There is bullish momentum on the SPX as the market has been at its highest level in ten weeks. Price Action 📊 After the previous resistance break above 4393.57, the market gapped to the upside to start the trading week, and the bullish momentum has continued. We are looking for further bullish momentum to target September's high at 4541.25. Fundamental Analysis 📰 US Indices have been rallying lately due to the weaker than expected figures coming out of the US lately. Traders are increasingly worried about the USD, so stocks and indices are on the rise.   Support 📉 4393.57: PREVIOUS RESISTANCE Resistance 📈 4541.25: 10 WEEK HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
SP:SPXLong
by BluetonaFX
BluetonaFX - AUDUSD Third Attempt at Range Zone ResistanceHi Traders! AUDUSD has reached the resistance of its range zone, and there is potential for a resistance break if the bullish momentum continues. Price Action 📊 The price action looks bullish, with market swings showing higher highs and higher lows. The market broke and closed above the 20 EMA yesterday with huge momentum. Additionally, this is the third attempt at the range zone resistance, which indicates that buyers want to take the market upwards. We are looking for further bullish momentum, and our plan is to buy the market dips and retracements. Fundamental Analysis 📰 Weaker than expected data has recently been coming out of the US, and this may be a sign of the US economy slowing down towards the end of the year. US retail sales are out later today, and if the figure is weaker than expected, traders will start to get increasingly nervous about the US dollar. Support 📉 0.63604: PREVIOUS DAY'S LOW Resistance 📈 0.65230: RANGE ZONE RESISTANCE Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX
BluetonaFX - GBPUSD Double Top PatternHi Traders! There is a potential double-top pattern on the GBPUSD 3H chart around the new monthly high. Price Action 📊 After the break above the previous monthly high at 1.24286, the market traded with further momentum and reached the new monthly high at 1.25058, then had a pullback to the neckline support at 1.23740. The market is now re-testing 1.25058, and if there is a hold here with no further bullish momentum, the pattern will become a double top and will likely target the neckline support again. Fundamental Analysis 📰 We have BoE Governor Bailey speaking later, so we must be wary. Depending on what he says, the market could react very aggressively.   Support 📉 1.23740: NECKLINE SUPPORT Resistance 📈 1.25058: MONTHLY HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
BluetonaFX - USOIL Descending Triangle PatternHi Traders! The bearish price action continues on the USOIL 1D chart, and there may be possible opportunities for short entries. Price Action 📊 The market has had lower highs and lower lows since breaking below the 3-month low and 20 EMA, creating a descending triangle pattern on the chart. We are looking for further bearish momentum to break and close the trendline support line and continue to the downside. Fundamental Analysis 📰 The market's outlook on USOIL is currently negative due to continuing dips in oil prices following tensions in the Middle East.   Support 📉 74.57: TRENDLINE SUPPORT Resistance 📈 79.01: TRENDLINE RESISTANCE Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
TVC:USOILShort
by BluetonaFX
2
BluetonaFX - EURUSD Approaching 2 Month HighHi Traders! EURUSD is an ascending triangle and is approaching its 2-month high at 1.07694. Price Action 📊 The price action looks bullish, with market swings showing higher highs and higher lows. The market has also been trading above the 20 EMA for over a week. We are looking for more bullish momentum for further continuation towards 1.07694. Fundamental Analysis 📰 Traders await the Eurozone Gross Domestic Product (GDP) for the third quarter (Q3). The quarterly growth number is expected to contract by 0.1%, while the annual growth number is forecast to grow by 0.1%. If the GDP data showed weaker-than-expected results, this could cause some selling pressure on the EUR.   Support 📉 1.06651: PREVIOUS DAY'S LOW Resistance 📈 1.07694: 2 MONTH HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX
BluetonaFX - USDJPY 150 Finally Broken & Approaching Record HighHi Traders! USDJPY has finally broken its psychological level at 150 with momentum and is now approaching the record high Apex Level at 151.946, and we could possibly reach a new record high this week. Price Action 📊 After weeks of trying to break above the psychological 150 level, the bears' resistance was finally broken, and now the market is trading with momentum, and the 152 handle looks to be the next target. All signals look bullish, although there might still be strong resistance here near the apex level due to it being a record high. Fundamental Analysis 📰 Traders were very disappointed with the BoJ's recent policy decision a couple of weeks ago, and this has really shown in the market. There is serious concern now for the Japanese yen, and the Central Bank will surely have to intervene to stop the yen from weakening further.   Support 📉 141.805: PREVIOUS DAY'S LOW Resistance 📈 151.946: APEX LEVEL Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX
6
BluetonaFX - GBPUSD 61.8 Fibonacci LONG to Trendline ResistanceHi Traders! GBPUSD has found some short-term support at the 61.8 Fibonnaci Retracement Area, and there are opportunities for long entries towards the trend line resistance. Price Action 📊 The 61.8 Fibonacci area looks quite strong at the moment; the bears seem to have exhausted at this level. Although we must be careful here as the market is still under the 20 EMA, trades should be kept very tight in case of any continuation to the downside. Fundamental Analysis 📰 There were positive fugures out of the UK this morning with better than expected GDP m/m and preliminary GDP q/q figures, which will most likely increase positivity on the pound.   Support 📉 1.22128: PREVIOUS DAY'S LOW Resistance 📈 1.22580: PREVIOUS DAY'S HIGH 1.22658: TRENDLINE RESISTANCE Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX
1