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EUR/CAD BEARS ARE STRONG HERE|SHORT Hello, Friends! EUR/CAD pair is trading in a local uptrend which we know by looking at the previous 1W candle which is green. On the 6H timeframe the pair is going up too. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 1.554 area. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ✅LIKE AND COMMENT MY IDEAS✅
Short
by EliteTradingSignals
1
Falling towards 61.8% Fibonacci support?The Cable (GBP/USD) is falling towards the pivot, which serves as pullback support and could bounce to the 1st resistance, which acts as pullback resistance. Pivot: 1.3315 1st Support: 1.3159 1st Resistance: 1.3586 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
Phemex Analysis #85: Is it Time to Enter SOPHON (SOPH)?!SOPHON ( PHEMEX:SOPHUSDT.P ), a rising project in the cryptocurrency space, has recently attracted traders' attention with its dynamic price action and notable volatility. Currently trading around $0.055, SOPH experienced a bearish move after failing to maintain earlier gains above $0.065. As the price now hovers near crucial short-term support levels, traders are evaluating whether this dip presents a buying opportunity or signals further downward pressure. Let’s explore several potential scenarios based on SOPH’s 15-minute chart to determine if now is the ideal moment to enter the market. Possible Scenarios (15-minute chart) 1. Double Bottom at $0.05 with RSI Divergence (Bullish Reversal) A closer examination of SOPH's 15-minute chart reveals the potential formation of a double bottom near the $0.05 level, accompanied by RSI divergence. Specifically, the RSI is showing higher lows while the price revisits its previous low, signaling diminishing selling pressure and a likely bullish reversal. Pro Tips: Long-term Accumulation: Consider gradually accumulating SOPH near the $0.05 support if bullish divergence persists. Confirmation: Wait for price stabilization and rising volume near the support level to confirm the reversal before scaling in. 2. Breakout Above $0.058 (Bullish Confirmation) If SOPH decisively breaks the immediate resistance level at $0.058, especially accompanied by high trading volume, it could mark a strong bullish signal. However, after the breakout, a minor retracement could form a classic "cup and handle" pattern—historically a robust bullish setup—prior to resuming its upward trajectory. Pro Tips: Long Entry: Go long upon confirmed breakout above $0.058. Pattern Recognition: If a cup and handle pattern forms after the breakout, look to add positions on the subsequent confirmation, preparing for potentially significant upward movement. 3. Bearish Continuation (Cautionary Scenario) On the downside, if SOPH falls below the critical support at $0.0528 accompanied by higher-than-average trading volume, it indicates the bearish momentum might persist. Such a breakdown could lead to further declines and test deeper support zones. Pro Tips: Risk Management: Avoid entering new long positions if this bearish scenario plays out. Market Observation: Remain on the sidelines, observing until clear bullish reversal signals or price stabilization at a lower support level appear. Conclusion SOPHON (SOPH) currently sits at a crucial juncture, offering potential opportunities depending on how price action unfolds in the short term. Traders should closely watch for bullish divergence signals around $0.05, breakout confirmations above $0.058, or bearish continuation below $0.0528. Employ disciplined risk management, and remain adaptable to market dynamics to confidently and strategically trade SOPHON (SOPH). Tips: Elevate Your Trading Game with Phemex. Experience unparalleled flexibility with features like multiple watchlists, basket orders, and real-time adjustments to strategy orders. Our USDT-based scaled orders give you precise control over your risk, while iceberg orders provide stealthy execution. Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
PHEMEX:SOPHUSDT.P
by Phemex
Today's gold price: short again after falling below 3300Today's gold price: short again after falling below 3300 This will be my last participation in the market this week and my last belief. Sell: 3295-3300 Stop loss: 3325 Target: 3250-3220-3200 The repeated fluctuations in the past two days are really heartbreaking. Even as a professional trader, I feel exhausted. This week is another dull week. Trump's changes in instructions caught people off guard. But trading is like this, always back and forth, and many times, we can't fully control it, but are controlled by it. In order to seize as many time periods as possible that can control the fluctuations in gold prices, I often maintain a rhythm, trade only a few signals a day, and only trade in specific time periods that I can understand. And strictly control stop loss and take profit, and use one month's data to calculate all my profits and losses. After talking about mentality, let's analyze the price of gold: Fundamental core: Policy repetition and risk aversion The US federal court ruled to suspend Trump's tariff policy, but the federal appeals court subsequently agreed to suspend the implementation of the ruling. Policy uncertainty leads to fluctuations in market risk aversion demand. The White House said it would explore other legal ways to levy taxes, which exacerbated expectations of policy chaos and strengthened the attributes of gold as a safe-haven hedge tool. Economic data and Fed policy Weak employment data: As of the week ending May 24, the number of first-time unemployment claims in the United States surged by 14,000 to 240,000 (expected to be 230,000), suggesting a weak labor market and the probability of a rate cut in September rose to 84.4%. Minutes of the Fed meeting: Keep interest rates unchanged, but acknowledge the risk of stagflation with "inflation and unemployment coexisting", and policy differences have intensified. Geopolitical risks and long-term support The situation in the Middle East (Israel may attack Iran's nuclear facilities) and the continued conflict between Russia and Ukraine have limited the decline in gold prices due to geopolitical premiums. Central banks around the world have strong demand for gold purchases: China's gold imports in April hit an 11-month high. In 2024, global central banks will purchase more than 1,000 tons of gold, which will support gold prices in the long term. 2. Key technical points Support level: Short-term: 3280-3290 (4-hour Bollinger band middle track + psychological barrier). Medium-term: 3250 (50-day moving average, if it falls below, it may fall to 3217). Resistance level: Short-term: 3335-3340 (previous high pressure area). Breakthrough target: 3350 (opening the channel to 3400). Key events: US core PCE data for April: If inflation is lower than expected (previous value 2.8%), expectations of interest rate cuts will increase, which is good for gold; if it exceeds expectations, gold prices may fall below 3250 points. Sudden change in geopolitical situation: Israel's attack on Iran's nuclear facilities may cause the gold price to surge 5% in a single day, breaking through 3,400 points.
OANDA:XAUUSD
by Louisa21210
DOGEUSDT → Long squeeze before growth?BINANCE:DOGEUSDT.P is consolidating. A range with clear boundaries has formed. Before a possible breakout, a liquidation (false breakdown) may form On D1, the structure is quite positive. Earlier, the price tested the downward resistance, but there was no reaction (fall) as such. Instead, the price is consolidating within the range of 0.211 (0.205) - 0.23 - 0.253. Bitcoin, like the entire crypto market, is consolidating within fairly clear boundaries. Based on the current situation, it would be logical to wait for one part of the market to be liquidated before the price can move in either direction. Based on the bullish market, there may be a retest of support in the form of a false break... Resistance levels: 0.2308, 0.253 Support levels: 0.213, 0.2116, 0.205 DOGE is consolidating with a focus on the 0.23–0.211 range. Against the backdrop of a bullish trend, a liquidation (long squeeze) relative to the lower boundary of the 0.23–0.205 range is possible before growth continues. A false break of support and liquidity capture would be useful maneuvers before implementation. However, if the market is aggressive enough and resistance at 0.23 is broken with subsequent consolidation above this level, it could trigger premature growth. Best regards, R. Linda!
Long
by RLinda
3
AUDUSD Will Explode! BUY! My dear followers, I analysed this chart on AUDUSD and concluded the following: The market is trading on 0.6420 pivot level. Bias - Bullish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation. Target - 0.6455 About Used Indicators: A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
1
Gold Trade Plan 29/05/2025Dear Traders, Gold has strongly broken through the 3290 zone and is currently fluctuating around the 3300 level. As long as the price remains below 3325, the bearish scenario toward 3200–3140 remains valid. However, if the 3325 zone is broken, we will enter a bullish wave aiming for the previous high. if you enjoyed this forecast, please show your support with a like and comment. Your feedback is what drives me to keep creating valuable content." Regards, Alireza!
OANDA:XAUUSDShort
by alirezak
Could the price bounce from here?USD/JPY is falling towards the pivot and could bounce to the 1st resistance, which acts as a pullback resistance. Pivot: 143.25 1st Support: 141.80 1st Resistance: 145.97 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets