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GBPUSD - Analysis (ICT)This is a possible scenario for GBPUSD, annotated on the 1h timeframe. Price just took out sellside liquidity and reversed back up rapidly during news on the 1st March 2024. There is much trendline liquidity residing above, but there is also a 3-week and monthly FVG below (off screen). The narrative I have in mind is for price to at least either make one more high near the C.E of the NDOG or slightly piercing the trendline, then heading to the downside. Or, for a bullish scenario, price breaks convincingly above the trendline, then finds support to move higher. Let's see what unfolds. - R2F
by Road_2_Funded
Dollar Index (DXY): Trading Plan For Next Week Explained 💲 Dollar Index is coiling around a solid rising trend line. We can see a nice consolidation on a 4H time frame. To buy the market with a confirmation, look for a bulilsh breakout of 104.3 resistance. 4H candle close above that will confirm a violation. A bullish continuation will be anticipated then at least to 104.65 Alternatively, a bearish breakout of a trend line may trigger a bearish continuation. ❤️Please, support my work with like, thank you!❤️
TVC:DXYLong
by VasilyTrader
7
Dollar Surges as German PMI Data Triggers Reversal SignalsThe dollar index has surged strongly following today's release of the German Flash Manufacturing PMI, revealing a contraction in industry expansion with a reading of 42.3. This unexpected downturn not only affects the Euro but also casts implications on GBP pairs. The disappointing figures have sparked concerns among investors, potentially exerting downward pressure on both cross pairs against the USD and paving the way for a correction that could boost the Dollar's value. From a technical standpoint, the USD appears to be rebounding, finding support at the dynamic trendline of the uptrend. This coincides with the convergence of the 200 Moving Average and the 50% Fibonacci retracement level from the previous swing low, suggesting a significant level of support for the currency. Additionally, the Relative Strength Index (RSI) has dipped into oversold territory, indicating a potential reversal in price direction. Traders are closely watching for signs of a correction and subsequent increase in the Dollar's strength. In light of these technical indicators, attention is turning to the possibility of employing a cross Moving RSI average strategy with a 70-30 trigger as confirmation. This strategy, which is detailed in an educational post linked below, could provide further insight into market movements and assist traders in navigating the current landscape of uncertainty. As market participants analyze the implications of the German PMI data and monitor technical signals, the trajectory of the Dollar index remains uncertain. However, with the potential for a correction in the cross pairs against the USD and the technical indicators suggesting a rebound, traders are advised to stay vigilant and adapt their strategies accordingly to capitalize on emerging opportunities in the forex market.
ICEUS:DXYLong
by FOREXN1
3
XAUUSD Technical Analysis 1st March 2024 1h chart– Thursday Daily candle closed extremely Bullish around 2044.500 breaking above recent Daily Resistance. I’ll be looking for potential Buys above 2050.800 targeting 4h Resistance around 2056.900 and Weekly Resistance around 2062.900. I’ll be looking for potential Sells below 2041.500 targeting 4h Support around 2034.500 and 30min Support around 2028.200. High Impact News ahead of the New York session for the US Dollar which may create volatility in the market.
OANDA:XAUUSD
by SalimFX20
XAUUSD Technical Analysis 29th February 2024 1h chart– Wednesday Daily candle closed Bullish within recent Daily Range as price continue to consolidate. I’ll be looking for potential Buys above 2038.100 targeting previous Weekly Support formed on 8th January 2024 around 2045.400 and 1h previous Support formed on 2nd February 2024 around 2052.500. I’ll be looking for potential Sells below 2030.300 targeting Daily Support formed around 2024.300 and 4h Support around 2017.000. The High Impact News ahead of the New York session for Thursday might be the token for price to break out of the current Daily / 4h range.
OANDA:XAUUSD
by SalimFX20
DXY Head and Shoulder Pattern 4HDXY Head and Shoulder Pattern 4H Possible formation of a head and shoulders pattern on the 4H timeframe. Pattern is a reversal pattern, could possibly break the 4H trendline to continue the daily timeframe downtrend. Would be looking for shorts from the 50% to 61.8% Fib levels. Further confluence is the RSI showing now entering overbought levels on the 4H timeframe. If price breaks past the previous lower high on the 4H timeframe, trade will become invalid. Like and comment if you agree.
TVC:DXYShort
by Ryan-L
GBPUSD: Expecting a drop from hereEven though sterling has found recent resilience, we are in a long-term down trend. I believe the recent rally must end, fundamentally the pound is much weaker than the dollar, the UK is in recession and the US looks likely to avoid one. The FED will start cutting rates, but I believe the BoE will act sooner (or at the same time) because it doesn't have the grace of a strong economy. On the LTF's we're at the top of this current dynamic rising range, but I think we may see a break of the lower boundary, and if we do this will be the resumption of the downtrend.
Short
by Finchcliffe
The U.S. Dollar Maintains DominanceAsian markets approached Wednesday cautiously in anticipation of a forthcoming U.S. inflation report, which holds potential to influence the Federal Reserve's timeline for implementing monetary easing. Concurrently, the New Zealand dollar experienced a significant decline following the central bank's softened stance on interest rates. New Zealand's central bank maintained the cash rate at 5.5%, emphasizing that prior rate hikes had mitigated inflationary pressures, albeit acknowledging reduced prospects for further rate increases. Consequently, the kiwi weakened to $0.61235, marking a 0.75% decline for the day. Charu Chanana, Saxo's head of currency strategy, noted surprise among investors regarding the Reserve Bank of New Zealand's reluctance to pursue additional rate hikes, though she emphasized the New Zealand dollar still presents a favorable carry amidst low volatility. Meanwhile, the Japanese yen held steadfast around the psychologically significant level of 150 per dollar, with the Nikkei experiencing a 0.2% decline for the day after reaching new record highs earlier in the week. In broader Asian markets, MSCI's index of Asia-Pacific shares outside Japan retreated slightly by 0.11%, hovering near a seven-month peak. Chinese stocks demonstrated mixed performance, with Hong Kong's Hang Seng index declining by 0.31% while China's CSI300 blue-chip index advanced by 0.46%. Investors are closely monitoring the upcoming release of the personal consumption expenditures price index (PCE) for January, the Fed's preferred inflation gauge. Expectations suggest a 0.3% monthly increase in January, slightly higher than December's 0.2% uptick. Recent robust economic indicators coupled with persistent inflationary pressures have led traders to significantly revise down their expectations for aggressive early interest rate cuts by the Fed. The easing cycle is now anticipated to commence in June, compared to initial expectations for March, with markets now pricing in 77 basis points of cuts for the year, down from 150 bps projected earlier. Yuting Shao, macro strategist at State Street Global Markets, highlighted the significance of individual data releases for influencing the Fed's data-dependent approach and impacting investor sentiment. In addition to the PCE index, other key data releases this week include the second estimate of gross domestic product, jobless claims, and manufacturing activity, all of which will contribute to shaping expectations regarding Fed policy. Federal Reserve officials have recently cautioned against premature rate cuts, with Governor Michelle Bowman emphasizing potential upside risks to inflation that could impede progress or even lead to a resurgence of inflationary pressures. Elsewhere, the Australian dollar experienced minor fluctuations following data indicating consumer price inflation remained at a two-year low in January, reinforcing expectations that interest rates are unlikely to rise further. The dollar index, which measures the U.S. dollar against six major currencies, recorded a marginal 0.01% increase. In commodities markets, U.S. crude declined by 0.41% to $78.55 per barrel, and Brent crude stood at $83.31, down 0.41% for the day, as the possibility of a delayed U.S. rate-cutting cycle offset the positive impact of discussions regarding potential extensions to production cuts by OPEC+. Spot gold edged up by 0.1% to $2,030.83 an ounce.
TVC:DXYLong
by DynamicCapital-FX
XAUUSD Technical Analysis 28th February 2024 1h chart– Tuesday Daily candle close weak Bearish rejecting the upside and respecting recent Daily Resistance. I’ll be looking for potential Buys above 2038.100 targeting previous Weekly Support formed on 8th January 2024 around 2045.400 and 1h previous Support formed on 2nd February 2024 around 2052.500. I’ll be looking for potential Sells below 2027.500 targeting 1h previous Support formed on 21st February 2024 around 2020.700 and 4h Support formed around 2015.700. As price ranged within the 4h timeframe during this week.
OANDA:XAUUSD
by SalimFX20
1
Eur/Usd Top Down Analysis Feb 24'Eur/Usd! The reaction off 1.08927 was quite dramatic last thursday and friday. Intro/Monthly TF 0:0 Weekly Timeframe 4:05 Daily timeframe 6:29 4hr timeframe 9:29 1Hr timeframe 11:33 Price has retraced and since dipped into a 4hr zone 1.08011. It bounced here on friday and the price action consolidated after that. It is possible that we may observe more sideways movement before another continuation. I liken a continuation for buyers because of sentiment moving out of last week due to cad news. It is quite normal to see a reaction off a daily zone like we observed on thursday and friday and it could very well be just a pullback in an uptrend. Caution however! Not Financial Advice. Education Purposes Only.
Short
by ShrewdCatfx
3
XAUUSD Technical Analysis 26th February 2024 1h chart– Previous Weekly candle closed strong Bullish around 2035.400 forming Weekly Support around 2013.200, Friday Daily candle closed Bullish within Daily Resistance formed back on Wednesday 7th February this year. I’ll be looking for potential Buys above 2041.700 targeting previous 1h Support formed on 1st February at 2046.200 and previous 4h Range formed around 2052.600. I’ll be looking for potential Sells below 2033.300 targeting 30min Support around 2027.000 and 1h previous Support around 2020.700. Despite the Weekly and last Daily candle closing Bullish there is a high probability for price to reject the 2050s / 2052s range as price previously ranged around those levels.
OANDA:XAUUSD
by SalimFX20
EURUSD, DOLLAR FALLING??This is a EURO / DOLLAR chart, We are currently neutral in-terms direction bias for this week. Non-Farm Payroll definitely will be the influential factor to our setup. Setup Breakdown : WEEKLY Price is in the Discount in terms of the weekly range and we have seen the first bullish candlestick in the last 5-6 months. Note : The Premium - Discount zones further left. Price in the weekly has traded into the Bullish Orderblock and the 2 weeks ago low has been taken out, hence the bullish candlestick for last week's trading. DAILY We have a Swing Low After or during a Turtle Soup. Accumulation and price trading down to a weekly PD Array + taking out stops, makes it more possible to see a AMD Trade . two large down candles = Orderblock from the weekly, we measured half of the two last down candles and we identified a CE. Below that we have a Balanced Priced Range/ Bullish FVG. Price inefficiency (notice the latest continuous up candles, well they have created a price inefficiency, Price needs balance. [Hence our speculation of the EU shorting towards our Bullish/ Daily Discount Arrays We looking to trade towards the Balanced Price Range (BRP) which is inside the Orderblock SETUP Expectations Bullish conditions Price seeks a PD Array to take out the Buy side liquidity laying above, trading to the Weekly Bearish Orderblock . Thus confirming our AMD The BRP / +OB / +FVG are our Points of interest, we look to initiate the longs there, just switch to a 15 Minutes or and look for a valid entry between London Killzone / New York Killzone. There's a high possibility that this is a NFP Setup We now operating as Proff_InvestsZA, which is actively throughout our social media incase you have questions you wanna ask. DISCLAIMER : Before using this Tradingview account setups, please make sure that you note the following important information: Do Your Own Research (DYOR) Our content is intended to be used and must be used for information and education purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. No Investment Advice Our Tradingview account is a financial data and news portal, discussion forum and content aggregator. Circle Forex Institution (Proff InvestsZA) is not a broker/dealer, we are not an investment advisor, we have no access to non-public information about publicly traded companies, and this is not a place for the giving or receiving of financial advice, advice concerning investment decisions or tax or legal advice. We are not regulated by the Financial Services Authority. We are an educational forum for analysing, learning & discussing general and generic information related to stocks, investments and strategies. No content on the site constitutes - or should be understood as constituting - a recommendation to enter in any securities transactions or to engage in any of the investment strategies presented in our site content. We do not provide personalised recommendations or views as to whether a stock or investment approach is suited to the financial needs of a specific individual.
by Prof_Invests_ZA