USDCAD: Detailed Technical Outlook 🇺🇸🇨🇦
Price action analysis for USDCAD.
Important key levels.
Bearish outlook explained.
Trading recommendations given.
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Dollar
Dollar Index (DXY): Consolidation Continues 💵
Dollar Index keeps consolidating within a horizontal trading range.
The price is testing the resistance of the range today.
I think that the market will retrace from that.
Goals: 103.47 / 103.25
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EURUSD TO SELL TO 1.08330Same bearish pattern EURUSD formed last week is what is repeating itself this week, after a retest I am expecting a retrace to the 50EMA and the resistance zone and then sell to our 800EMA which is at 1.08330.
BUY TRADE SETUP ON USDCHFHey Trader,
Check this analysis out on USDCHF
After the FOMC data that simply put Dollar in a more stable state, USDCHF has successfully retested the previously broken Resistance zone (supply) and is moving toward the upside.
Keep a close tab on this one.
XAUUSD Technical Analysis 01.02.2024 1h chart– Wednesday Daily candle closed small Bullish rejecting 2055 level where Daily Resistance has been formed on Tuesday 16th January 2024. Despite Daily candle closing weak Bullish there is still a probability for price to fill the rejection and retest Daily Resistance if new Daily candle holds support above 2030s. I’ll be looking for potential Buys above 2044.900 targeting recent 1h Resistance (2052.400) and the 30min Resistance formed on Friday 12th January 2024 around (2059) . I’ll be looking for potential Sells below 2031 targeting 1h Support (2024.700) and Daily Support formed this Monday 29th January (2018.400). We have another high Impact News coming up this Friday for the US Dollar (NFP) so price could possibly form a small range on the 4h or 1h timeframe leading up to the event.
Dollar Index (DXY): FED Rate AHEAD! 💵
Today, we are expecting FED interest rate decision and FED press conference.
In this video, I share a detailed technical outlook and potential scenarios for Dollar Index.
Watch carefully, because it will help you to prepare for the coming news.
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DXY SHORT TERM BULLISH !!!HELLO TRADERS.
As I can see DXY on smaller TF creating H & S pattern we are looking for it to test the downtrend line once in 2024 and then all the way down its just a trade idea has a look on our previous analysis share Ur thoughts with us, we appreciate Ur love and comments.
Stay Tuned for more updates!
DXY Dollar Index Technical AnalysisThe DXY has demonstrated a notable rally on the 1-day (1D) time frame, exhibiting distinct range-bound price action as it operates within a previously established weekly distribution level. The absence of a discernible trend is evident, with the market remaining in a sideways movement for an extended period. With high-impact news events scheduled for later today, Thursday, and Friday, there is potential for a breakout from the current range, presenting opportunities with dollar pairs.
It is imperative to clarify that this analysis is intended exclusively for educational purposes and should not be construed as financial advice.
USDCAD TO SELLUSDCAD have the weekly and daily timeframe showing on how bearish it is, I want price to retrace to where the 200 and 50 exponential moving averages are for more sells to the recent four hour low.
EURUSD: Can We Expect a Pullback?! 🇪🇺🇺🇸
EURUSD may retrace from a key daily structure support.
After its test, the price broke and closed above a resistance line
of a falling wedge pattern on a 4H time frame.
It feels like the price may bounce ahead of FED rate decision tonight.
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USDCAD: Confirmed Bearish Reversal?! 🇺🇸🇨🇦
I see multiple bearish clues on USDCAD.
The pair is trading in a bearish trend,
lower highs are respecting a falling trend line.
After its last test, the price formed a double top formation,
and violated both its neckline and a support line of a rising wedge.
These bearish signals indicate that the market may return to a bearish trend.
I expect a bearish continuation to 1.335 / 1.330
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XAUUSD Technical Analysis 31.01.2024 1h chart– Tuesday Daily candle retested strong Key Level of 2050s exactly as mentioned on the previous analysis posted for Tuesday, Daily has rejected that level and closed small Bullish. I’ll be looking for potential Buys above 2039.500 targeting recent Hourly Resistance (2046.700) and Daily Resistance formed on 16th January 2024. I’ll be looking for potential Sells below 2031.000 targeting Hourly Support (2025.200) and recent Daily Support around 2018.500. High Impact News event ahead of the Wednesday trading session for the US Dollar so there is probability for price to range prior to news release.
🧭💡 Dollar Dynamics: Sideways Awaits Feds/ I wait for the NFP !Hey traders, the FX Professor here, addressing the buzz: Why the silence on the dollar? Let's dive into the dollar index's sideways dance, a chart that speaks volumes! Our journey has been stellar, riding the long wave from the year 2020, then nailing the short with the iconic 'I scream, you scream, and Joe Biden short' in October 2022.
Currently, we're in a holding pattern, eyes fixed on the Federal Reserve. Will they begin to ease? My take: quite likely, with elections on the horizon. Yet, they need compelling data to pivot, and that's where our focus shifts to Forex pairs, gold, and silver.
It all kickstarts with the NFP this Friday. While some eyes are on the Fed's Wednesday address, I suspect they'll play it close to the vest, holding off on major reveals. Friday's NFP could be the catalyst for change if it delivers the data the Fed needs to start slashing interest rates.
With inflation talk taking a backseat, the spotlight turns to jobs and GDP. It's time to tune into the dollar index, prime our Forex accounts, because we're on the cusp of an exciting year teeming with volatility.
The stage is set, and the anticipation is high. Join me this Friday on TradingView for live trading action as we embrace the volatility head-on. Let the games begin!
One Love,
The FXPROFESSOR 💙
Get ready for a volatile year and join the live trading action on TradingView:
🎢📈 NFP Trading Extravaganza: Ride the Volatility Wave with FX Professor! 🚀
Prepare for an exhilarating adventure into the heart of the financial markets! NFP day is my playground, and I absolutely revel in the twists and turns of volatility it brings.
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Weekly Rising Wedge On DXYThis looks to be bearish structure. Wanted to check against the community to ask for other opinions. Trend lines are valid.
Little more pump before the DXY drops off into the Low 80s?
Rsi indicated another pump to the top of the wedge, but I could see it falling through after that.
Comment!
Not financial Advice. I am a hobbyist.
SIMPLEXeffects USDCAD OUTLOOK
It's so obvious from what we have on the higher TF (H4 specifically) that we haven't had a change in the market structure being built up until now. We've been moving in a continuous downtrend characterized by the numerous lower lows and lower highs built... It is therefore only wise to look out for sell opportunities in the USDCAD market for the next 2 to 3 days until we thus form a new lower low...
#simplexeffects
#simplextradehub
#thesimplextrader
XAUUSD Technical Analysis 30.01.2024 1h chart– Previous Daily candle closed Bullish around 2032.600 above recent Daily Resistance, forming new Daily Support around 2018.600.
– Buys on close above 2037.200 targeting 4h previous Support formed on 12th January 2024 around 2044.200, Leaving Runners to the 1h Resistance formed on 16th January 2024 around 2051.200.
– Sells on close below 2024.800 targeting Daily Support formed around 2018.600, Leaving Runners to the 1h Support formed around 2011.800.
– High Impact News ahead of the New York session for the US Dollar, The main focus for tomorrow is on CB Consumer Confidence and JOLTS Job Openings, High volatility expected.
Eurusd Bearish momentum? NFP week ♠️A new week ahead with NFp economic data to wrap things up so excited for whats to come.
0:0 Monthly timeframe
2:40 Weekly timeframe
5:47 Daily timeframe
8:20 4Hr timeframe
We can observe the bearish pressure on Eu across the past 3-4 weeks and the start of the new year 2024. The bearish momentum began with the weekly engulfing candle of the first week of the year.
Bear can make money again...On my view, its a bear turn at top and can make a major trend reversal at top.
Risk reward is not so good, but probability is so nice.
Trade safe.
Good luck.
DXY (Dollar index):🔴It looks bearish.By examining the 4-hour chart, we can see the liquidity formed above the current price and below the bearish order block.
So we can expect the price rise to collect the liquidity and start the bearish move from the order block to the liquidity void.
💡Wait for the update!
🗓️29/01/2024
🔎 DYOR
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XAUUSD Technical Analysis 29.01.2024 1h chart– Previous Weekly candle closed small Bearish around 2018.600, Friday Daily candle closed weak Bearish forming Daily Resistance around 2021.100 as price ranging on the 4h and the Daily timeframe.
– Buys on close above 2024.700 targeting Strong Daily Resistance formed on 24th January 2024 around 2029.800, Leaving Runners to the 4h Resistance formed around 2035.300.
– Sells on close below 2013.800 targeting 4h Strong Support formed around 2009.000, Leaving Runners to the Weekly Support formed on 11th December 2023 around 2004.000.
– Ideally is to allow the Asian session to form a new range for the new week ahead and wait for high volume time around the Pre London / London session open.
Members Daily Analysis - Jan 28 2024Watching the Yield Curve inversion closely...10's - 2's is narrowing.
Weekly Reversal in the Semiconductors.
Oil massive breakout! Dollar next?
Tesla losing Mag 7 status...its now only 10th largest company.
Bottomed enough, ready to jump </LONG TERM>| Your time is precious so I write concise and precise, feel free to ask for more |
The price has reached the bottom of the depicted channel, and some volume is expected, as FTX narratives begin to shift bullishly. Personally, I believe this is a good place to enter and keep an eye on the bottom of this channel, which I believe will keep the price secure. So, for conservative traders, entering in the next 10 days may be a safer option. DYOR.
The worst scenario - Full enter in mentioned 114xx (which I believe can only be reachable by shadow, so put limit order)
// DYX is also showing bearish signs, my most recent analysis can be found in my profile.
| Your time is precious so I write concise and precise, feel free to ask for more |
Where are those dollors?An update to my previous idea,
We see strong down trend in DXY, more dump for traditional market, and also bearish trend in crypto market,...
So what are these dollars waiting for? maybe waiting for better narratives or maybe better supports in markets! get prepared and be on call!
Sometime ago I have posted this idea:
Now we an update to that analysis with smaller timeframe, and we see a nice support in green box, I would think we will have some range here or more downtrend for DXY in upcoming days
What are your thoughts?
