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Reacting off pullback support?CAD/JPY is reacting off the support level which is a pullback support that lines up with the 127.2% Fibonacci extension and could bounce from this level to our take profit. Entry: 115.53 Why we like it: There is a pullback support that lines up with the 127.2% Fibonacci extension. Stop loss: 114.92 Why we like it: There is a pullback support that lines up with the 161.8% Fibonacci extension. Take profit: 116.97 Why we like it: There is an overlap resistance level which is slightly above the 38.2% Fibonacci retracement. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
XAU Continues strong upward momentumWorld gold prices increased slightly today as investors waited for the US to announce inflation data in the next few days to predict when to cut interest rates. The information that may surprise the gold market in the next few days is the US core personal consumption expenditures index (PCE) - an important inflation measure of the US Federal Reserve (FED). The dollar slid to its lowest in more than a week, making gold cheaper for holders of other currencies. Gold prices in Asian markets almost went sideways during the trading session on May 28, when the USD weakened. Meanwhile, investors are waiting for important US inflation data to give clues about when the US Federal Reserve (Fed) will cut interest rates. “The outlook for a stronger USD is supported by a change in the US monetary policy stance, as the Fed begins to look for evidence to raise interest rates instead of easing monetary policy which could be a risk. big for the gold market.
OANDA:XAUUSD
by TrategySherpa
AUDJPY 4hour Analysis October 16th, 2022AUDJPY Bearish idea Weekly Trend: Bearish Daily Trend: Bearish 4Hour Trend: Bearish Trade scenario 1: AJ is also looking very bearish going into this week. Ideally, price action can form a clear lower high below 93.000 resistance and give us good entry opportunities. Look to target lower toward 91.000 support. Trade scenario 2: For us to consider AJ more bullish we first would need to see a break back above 93.000 resistance with a confirmed higher low above.
Short
by ForexLeague