Digesting the US & Canada job numbers The numbers are out and, so far, the market is reacting logically. Let's dig in!
NASDAQ:AMD
NASDAQ:AVGO
NASDAQ:NVDA
MARKETSCOM:GOLD
MARKETSCOM:EURUSD
MARKETSCOM:DOLLARINDEX
MARKETSCOM:USDCAD
Let us know what you think in the comments below.
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EUR
After strong impulse up, Euro makes correction to 1.0600 pointsHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see that the price entered a wedge formation and immediately started to decline. The Euro broke through the 1.0410 level, creating a strong gap before reaching the wedge's support line and beginning to rise. In a short time, it climbed back to the support level and attempted to break it but failed, pulling back slightly. After that, the Euro returned to the 1.0410 support level and finally managed to break through. Following this move, it reached the resistance line of the wedge and made a correction down to the support level. Then, the Euro pushed back up to the resistance line, consolidating near it for a while before dropping to the buyer zone, where it later touched the wedge’s support line again. From there, it made a strong upward impulse, breaking the 1.0410 level once more, exiting the wedge, and surging to 1.0820. However, more recently, the price reversed and started to decline. I believe the Euro may enter a corrective phase after such a strong upward move. Based on this, my TP is set at 1.0600 points. Please share this idea with your friends and click Boost 🚀
EURJPY - Follow the Bears!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📉EURJPY has been overall bearish trading within the falling wedge pattern marked in red.
Since it is retesting the upper bound of the wedge, I will be looking for trend-following sell setups on lower timeframes.
For now, we wait!⏱️
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
EUR/JPY Technical AnalysisTrendline Breakout:
EUR/JPY has broken a long-standing descending trendline, which previously acted as dynamic resistance, pushing the price lower. The breakout indicates a potential trend reversal from bearish to bullish.
Retesting Support Zone:
After the breakout, the price has retraced back to a key support zone around 156.000, highlighted in purple. This area has previously acted as a strong demand zone, where buyers have stepped in multiple times. Retesting this zone is a natural price action movement before confirming further upside momentum.
Bullish Projection:
If the support at 156.000 holds, EUR/JPY is expected to resume its bullish movement towards key resistance levels at 158.000 and ultimately 160.000. These levels align with previous price reaction zones, making them crucial take-profit areas for buyers.
Could the Fiber reverse from here?The price is reacting off the pivot and could reverse to the 1st support.
Pivot: 1.0783
1st Support: 1.0598
1st Resistance: 1.1007
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.
Bearish reversal off pullback resistance?EUR/USD is reacting off the resistance which is a pullback resistance that lines up with the 138.2% Fibonacci extension and could reverse from this level to our take profit.
Entry: 1.0788
Why we like it:
There is a pullback resistance that aligns with the 138.2% Fibonacci extension.
Stop loss: 1.0954
Why we like it:
There is a pullback resistance that is slightly above the 71% Fibonacci retracement.
Take profit: 1.0616
Why we like it:
There is an overlap support level that lines up with the 50% Fibonacci retracement.
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EURUSD Rejection expected that will take it to parity.EURUSD crossed above its MA200 (1d) and is headed for the top of the long term Channel Down.
A rejection similar to September 2024 is highly likely (which pulled the price to the 1.382 Fib), especially since this week's rise has been huge and based solely on geopolitics.
Trading Plan:
1. Sell on the current market price.
Targets:
1. 1.000 (the 1.382 Fibonacci extension).
Tips:
1. The RSI (1d) is overbought. The last time it was this high was on August 23rd 2024. Exactly on the last Lower High of the Channel Down.
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Bullish bounce off pullback support?EUR/NOK is falling towards the pivot and could bounce to the 1st resistance.
Pivot: 11.7451
1st support: 11.6802
1st Resistance: 11.8215
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.
EURAUD to see a turnaround?EURAUD - 24h expiry
We are trading at overbought extremes.
Bearish divergence is expected to cap gains.
The rally is close to a correction count on the daily chart.
We look to Sell a break of 1.6950.
A lower correction is expected.
We look to Sell a break of 1.6950 (stop at 1.7010)
Our profit targets will be 1.6740 and 1.6710
Resistance: 1.7070 / 1.7100 / 1.7250
Support: 1.6950 / 1.6850 / 1.6730
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The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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EURAUD, EURNZD and AUDNZD - Quick technical pieceWe are seeing strong move in the euro just before the ECB rate decision on Thursday. However, let's not forget that we will get some action from the RBA and RBNZ in the first days of April. MARKETSCOM:EURAUD and MARKETSCOM:EURNZD are at key resistance areas, which could be interesting for the sellers. That said, we have not received any reversal signal yet, so the bears need to wait for a bit.
Let's dig into the technicals.
FX_IDC:EURAUD
FX_IDC:EURNZD
Let us know what you think in the comments below.
Thank you.
74.2% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK. Cryptocurrency CFDs and spread bets are restricted in the UK for all retail clients.
EURO - Price can make correction, after strong movement upHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊
A few days ago price entered a flat, where it at once declined to support level, which coincided with support area.
The price entered this area and then started to grow, so EUR rose to $1.0520 points in a short time.
After this movement, Euro turned around and fell to $1.0215 support level again, making a strong gap.
Next, price turned around and in a short time rose to $1.0520 level and some time traded near it.
Later, price broke this level and rose until to $1.0720 points, but recently it turned around and started to fall.
So, I think that the Euro can make a correction movement to $1.0525 support area, after movement up.
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EURUSD Channel Up testing 1D MA200 after 4 months!The EURUSD pair has been trading within a Channel Up since the January 13 Low and after the 1D MA50 (blue trend-line) bounce, the current Bullish Leg is testing the 1D MA200 (orange trend-line).
This is the first 1D MA200 test since November 06 2024 and happens to be at the top of the Channel Up with the 1D RSI almost overbought (70.00). These conditions create a low risk opportunity for a short-term Sell. Our Target is the bottom of the Channel Up and the 1D MA50 at 1.04500.
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EUR/CAD Technical Analysis – Price Rejection at Key ResistanceEUR/CAD has reached its highest level since August 2024, touching a major resistance zone. However, instead of breaking higher, the price has faced strong rejection, indicating that sellers have stepped in with force.
The pair tested a critical resistance level but failed to break through, signaling a potential shift in momentum.
The rejection suggests that buyers may be losing control, giving sellers an opportunity to push prices lower
Downside Targets:
The next potential target for sellers is 1.50000, a psychological and technical support level.
If selling pressure remains strong, the second downside target is 1.48800
EURUSD: Channel Up has topped. Sell signal.EURUSD is bullish on its 1D technical outlook (RSI = 62.145, MACD = 0.003, ADX = 17.266) and overbought on the lower timeframes with the 4H RSI in particular above 75.000. The Channel Up that started on the February 2nd low had every HH pull back to its 0.618 Fib level. Consequently we are short on the short term (TP = 1.04500). If the price crosses under this 1 month Channel Up, the longer Channel Up should push even lower to the 0.786 Fib of the greater bullish wave (TP = 1.03000).
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Beginning of correction after 5 Elliot wavesAfter the completion of the 5 Elliot waves I am seeing similarities to past momentum. It looks like the Adam & Eva tops. We are now in the area of the B top formation, then I would expect a hike to the C point area (which is my view around 1.63 if we go by past experience). We have also not reached the 50 EMA, but I believe there will be a quick break of this EMA based on my experience.
Horban Brothers.
EURAUD - Areas of Interest!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈EURAUD has been overall bullish, trading within the rising channel marked in green, however it is currently retesting the upper bound of the channel.
Moreover, the red zone is a strong resistance zone.
📉 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the resistance and upper blue trendline acting as a non-horizontal resistance.
📈 Moreover, as it retests the lower bound of the channel and blue support, I will be looking for longs.
For now, we wait!⏱️
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Bearish drop?EUR/JPY is rising towards the pivot and could drop to the 1st support which acts as a pullback support.
Pivot: 157.09
1st Support: 155.00
1st Resistance: 158.35
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.
Bearish drop off pullback resistance?EUR/GBP is reacting off the pivot which has been identified as a pullback resistance and could drop to the pullback support.
Pivot: 0.8265
1st Support: 0.8224
1st Resistance: 0.8292
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.
Bullish bounce?EUR/CAD is falling towards the pivot which is a pullback support and could bounce to the 1st resistance.
Pivot: 1.5106
1st Support: 1.4993
1st Resistance: 1.5258
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.
Bearish reversal off 78.6% Fibo retracement?EUR/NOK is rising towards the pivot and could reverse to the 1st support which has been identified as a pullback support.
Pivot: 11.7640
1st Support: 11.7147
1st Resistance: 11.8210
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.
EUR/CAD Buy @ Support ZoneThe EUR/CAD pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent Formation of a AB=CD Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours.
Possible Long Trade:
Entry: Consider Entering A Long Position around Trendline Of The Pattern.
Target Levels:
1st Resistance – 1.5128
2nd Resistance – 1.5185
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