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XAUUSD Technical Analysis 21st February 2024 1h chart– Tuesday Daily candle closed Bullish around 2024.500. I’ll be looking for potential Buys above 2030.500 targeting Daily Resistance around 2036.000 and 1h Resistance around 2042.600. I’ll be looking for potential Sells below 2022.500 targeting 4h Strong Support at 2016.900 and 1h Strong Support around 2011.700. The idea posted on the previous analysis for price to form 4h Resistance is already coming into a play despite the last 4 Daily candles being Bullish as the current Bullish trend on Gold could be Weekly candle forming top wick before breaking the lows to fill the previous Weekly low.
OANDA:XAUUSD
by SalimFX20
DXY Analysis: Navigating Currency Trends Amid Economic DynamicsHey Traders, In today's trading session, we're closely monitoring the US Dollar Index (DXY) for a potential buying opportunity around the 103.700 zone. DXY, a key measure of the dollar's strength against a basket of major currencies, has been exhibiting a clear uptrend in recent sessions. Currently, it's undergoing a correction phase, edging closer to the critical support and resistance area at 103.700. This presents an intriguing setup for traders seeking to capitalize on the dollar's strength. Adding depth to our analysis, recent economic data, particularly the Consumer Price Index (CPI) figures in the United States, have provided insights into the dollar's underlying strength. The latest CPI data, indicating resilience in inflation with a positive deviation from expectations, has underscored the robustness of the US economy and supported the case for a stronger dollar. This fundamental backdrop aligns with our technical outlook, further bolstering the potential buying opportunity we're observing in DXY. Considering these factors, we're keeping a close eye on DXY as it navigates this correction phase, anticipating a potential bounce from the 103.700 support level. As always, prudent risk management and adherence to your trading strategy are paramount in navigating the markets.
TVC:DXYLong
by JoeChampion
DXY(US Dollar),🔴Can grab the sell-side liquidity?🔴 As you can see the price consolidating for a while and we should see what happens next. By looking at the chart, we can figure out the price created the sell-side liquidity that formed as equal lows that can be smart money targets. In that case, I don't want to see the price go higher than the key level (107.675). In addition, there is the hourly bearish FVG that can keep the price and act as a resistance. So if the price can close below the liquidity void (104.280), we can expect to see a lower price. 💡Wait for the update! 🗓️20/02/2024 🔎 DYOR 💌It is my honor to share your comments with me💌
TVC:DXYShort
by VahidTradingCR
3
XAUUSD Technical Analysis 20th February 2024 1h chart– Monday Daily candle closed small Bullish as price ranges on the 4h timeframe. I’ll be looking for potential Buys above 2022.400 targeting 1h Resistance at 2028.400 and 4h Resistance at 2034.400. I’ll be looking for potential Sells below 2013.100 targeting 1h previous Resistance at 2007.600 and recent 4h Support at 2001.300. There is still a good probability for price to fill the previous Weekly Low. Would be good to have 4h rejection to upside followed by 4h / Daily Resistance to have the probability on our favour
OANDA:XAUUSD
by SalimFX20
XAUUSD Technical Analysis 19th February 2024 1h chart– Previous Weekly candle closed weak Bearish with an almost 300 pip Rejection wick to the downside. Friday candle closed Bullish retesting the previous Weekly Support area formed at the end of January 2024. I’ll be looking for potential Buys above 2015.300 targeting previous 4h Support area formed around 2020.000 and recent 4h Resistance formed at 2026.800. I’ll be looking for potential Sells on close below 2008.500 targeting recent 4h Support at 2001.400 and 1h Support around 1996.000. Despite the Weekly closing Bearish with a rejection to the downside there is still a good probability for the new Weekly candle to fill the Rejection wick.
OANDA:XAUUSD
by SalimFX20
DXY MELTDOWNThe enduring downward trajectory of the USD appears poised to persist in the coming years and even decades. With a staggering $33 trillion debt load that seems insurmountable, coupled with dwindling confidence from international partners who are divesting from the USD, the currency faces significant headwinds. The inevitable repatriation of these dollars to the Federal Reserve, the United States' central bank, exacerbates the downward pressure. Forecasts indicate that the DXY, reflective of this trend, is likely to dip below $100 and remain there for an extended period. Our analysis underscores this outlook not only for the DXY but also for the USD's performance against other major currencies and assets.
TVC:DXYShort
by NixxWorld
XAUUSD Technical Analysis 16th February 2024 1h chart– Thursday Daily candle closed Bullish forming Daily Support around 1992.400. I’ll be looking for potential Buys above 2008.400 targeting previous Daily Support formed on 25th January 2024 at 2014.200 and the previous 4h Support formed on 12th February 2024 at 2019.200. I’ll be looking for potential Sells below 2000.100 targeting previous 1h Resistance formed around 1995.000 and recent 4h Support around 1989.100. Despite the Monthly and Weekly candles trending Bearish I will be keeping an eye on price movement around 2004 (Weekly Support) so we might see Bullish candle Friday which will allow Weekly to close above Weekly Support.
OANDA:XAUUSD
by SalimFX20
XAUUSD Technical Analysis 15th February 2015 1h chart– Wednesday Daily candle closed weak Bearish at 1992.300 rejecting the 1984s area as price ranges on the Hourly timeframe. I’ll be looking for potential Buys above 1996.200 targeting previous Weekly Low formed on 11th December 2023 around 2004.200 and previous 1h Support formed this Monday at 2012.000. I’ll be looking for potential Sells below 1987.200 targeting recent 4h Support at 1982.000 and Hourly Support at 1974.800. High Impact News event ahead of the New York session for the US Dollar which may allow price to break out of the recent Hourly range.
OANDA:XAUUSD
by SalimFX20
EURUSD: Consolidation & Your Trading Plan 🇪🇺🇺🇸 EURUSD is currently trading within a narrow horizontal range on a daily and stuck between 2 daily horizontal structures. If the price breaks and closes above 1.0817 resistance, we will expect a bullish continuation at least to 1.087. If the price breaks and closes below 1.0723 support, a bearish movement will be anticipated to 1.067 The US inflation data will most likely be the catalyst. Patiently wait for a breakout and the follow the market. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
1