Get started

Foreignexchange

Triple Head (H&S) Completed - Gold Will Now Descend Into ChannelI already made a small joke about this head and shoulders looking more like a triple head in my previous analysis, and even though it did not play out very cleanly, we can see the right shoulder has been completed. The top ($1722) was slightly lower than you might have expected ($1740), but we are seeing a new downtrend starting now. I expect the price to follow this downtrend for a while. A lot of people have put their money into gold as a safe investment, but will be slowly pulling it out of gold and into the stock markets again as the economy seems to recover from the Corona crisis. The price did open with a bullish momentum, so keep your stop loss tight around the 1725 level. It could be great for your risk reward that the price has increased a little bit so you can short from a higher level. Don't wait too long before you enter this trade as your risk reward will reduce as it lowers more. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
OANDA:XAUUSDShort
by Trading-Guru
6
AUDUSD Technical and Fundamental Analysis; 4hr/TFFirst thing which we establish depicting the 4hr/TF of AUDUSD are the levels of support and resistance. Our vital Support level was present at approximately 0.63180, following our level of Resistance at 0.68550. Furthermore, @0.63400 we receive an insight of a Triple Moving Average crossover amongst 4, 9, and 18 day charts. Price then accelerates across moving average as it moves into a Bullish engulfing candlestick, allowing us to identify our ascending pattern on the 4/hr. Our first target of @0.6500 was hit indicating continuous support via our EMA50, reinforcing the chances of a constant rise. Fundamentals: USD Jobless Claims Report - Thursday 30th April USD (ISM) Manufacturing PMI - Friday 1st May
Long
by adelmourad
1
EUR/USD The Buy Area You've Been Waiting For.The price has hit this horizontal support before. We can see that this price level has been pivotal before. That's something that we can monetize using technical analysis. Place your stop loss not under the current support, but under the level 2 support. We don't know if the price will fall further, but the second level of support is much stronger than the first one. This gives us some slack and room for error. Exit the trade underneath the horizontal resistance for maximum profit compared to risk taken. If you would place it above, you would risk the price not being hit and rejected by the zone. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
Long
by Trading-Guru
12
AUDUSD Technical Analysis/4hr Time FrameTo begin with, AUDUSD has been extremely bearish for the last 2 months mainly due to economic uncertainty and a weak unemployment rate depicting an increase in the amount of COVID-19 cases across the country, also following the recent decline of the ASX. Now, let's talk technicals. According to the chart, price had a very significant rejection at @0.55677, enabling for the formation of ascending momentum via a bullish engulfing candlestick to occur. We found a pattern called Inside Bar (Bullish) on 2020 Mar 27 at 19:15 GMT on a 15 minute chart suggesting the outlook is bullish for up to 12 hours. A bullish event triggered for Slow Stochastics on 2020 Mar 27 at 20:00 GMT when the %K line crossed above the %D line. The close prices are trading closer to the upper end of the recent high-low price range, which is associated with price increases. - Pending Home Sales Index US on Tuesday, so let's see if forecast is met causing the USD to depreciate against AUD. -
Long
by adelmourad
1
AUDUSD: more collapse for Australian Dollar? In today's foreign exchange markets, the WXY wave pattern comprised of mostly 3 wave structures is more common than the typical 5 wave up, 3 wave down structure for stock markets. This is because foreign exchange don't have an inherent trend of 'always going up' in the long term. In fact, you could say some currencies are possibly doomed to fail in the long term against the US dollar, due to political, demographic and economic reasons. Belarusian ruble is one example that looks like it's always going down against US dollar. Unfortunately, it looks like AUD is joining the club of 'long term losers against US dollar' too. The Reserve Bank of Australia is determined to keep interest rate close to or lower than zero, and I doubt they will follow when the United States eventually increase interest rate. It's quite feasible that RBA will drop the interest rate into deep negative territory like -1% when the next big global crash wreak havoc in Australian housing and equity market in the mid-2020s, putting more downside pressure on AUD. The Y wave of AUDUSD will at least drop to the low of 2001, and possibly lower than 0.48 within 5 years. Short term price recovery is likely though, may go above 0.6 in a couple of weeks.
Short
by MarcusAu
2
USDJPY Technical and Fundamental Analysis The technical view of USDJPY depicted by the Daily Chart allows us to identify our monthly Horizontal BUY pressure and Horizontal SELL pressure further which eventually directs us to establish the overall market trend/flow. From approximately september of 2019, we had identified our ascending consolidation pattern of Higher highs and Lower lows. During the February 2020 period we saw the USD break out of that period of ascending consolidation, ultimately forming into a Bullish engulfing candlestick. At the point of approximately @112.000, we saw price fail to break our previous high which concluded during the April trading session of 2019, and from there ultimately forming bearish exhaustion as SELL pressure was increasing, (Investors trading along a bear market by overselling). Furthermore, price came declining towards our support level @108.000 which indicated our previous high, hence further declining past our mini consolidation period at approximately @106.000 causing additional investors to SELL the USD and BUY the YEN. IF we have a confirmation of price surging back up to our support level @106.000 and breaking it we will be looking for a LONG position, however if it fails to do so, we will be looking for a rejection, or a pullback in price and potentially continue to short USDJPY. Fundamentals: Depicted by the Daily chart, we can see that the USD has failed to capitalize on upbeat NFP data, hence continues to trade in red near the 105.000 zone. MAJOR EVENTS IMPACTING THIS CURRENCY PAIR AS OF THE 9/03/2020: JPY GDP (QoQ) (Q4): FORECAST = BEAR MARKET MAJOR EVENTS IMPACTING THIS CURRENCY PAIR AS OF THE 11/03/2020: USD Core CPI (MoM) (Feb): FORECAST = BEAR MARKET MAJOR EVENTS IMPACTING THIS CURRENCY PAIR AS OF THE 12/03/2020: USD Crude Oil Inventories, PPI (MoM) (Feb)
by adelmourad
USDCAD Analysis of the Daily TF (Technicals + Fundamentals)On the Daily Time Frame of USDCAD we have managed to identify a bearish engulfing candle close which leaves the last Friday trading session with a push towards the downside depicting that our area of sensitivity was broken on the 4hr/TF Chart, additionally allowing us to identify our mark of Horizontal sell pressure across the Daily. Assuming that we reach our appointed mark of @1.32021, we can expect some exhaustion to be present towards the upside, which would allow us with clear price action confirmation if the level isn't broken. If the resistance level @1.32021 signals to us excess downward pressure and is broken we will look to move our STOP LOSS from @1.34645 to Break Even, allowing us to secure a second short position. This short position will only, however, become invalid if price does not hit our resistance level after exhaustion as price will begin to push itself upwards. Fundamentals: Impact of Coronavirus on the currency market will remain high and will remain at the forefront of Global currencies. There is large emphasis placed on recent Coronavirus cases in the USA, also further impacting most of the major stock exchanges. It is extremely likely that the CAD will continue to grow against USD following the projection of an expansive amount of cases. The USD also lost a number of positions against other major world currencies. The currency market also further responded to Fed Chairman J. Powell's speech on Tuesday weakening the dollar.
Short
by adelmourad
1
GBPAUD Second Analysis/Idea Via 1M/ProjectionAnalysis of GBPAUD according to the 1M Chart Timeframe. We can first identify our low for the month, hereafter breaking into an ascending pattern towards our resistance level @1.918339. At our first resistance level we can see our ascending consolidation of patterns broken, allowing price to further surge creating bullish exhaustion towards the upside. If Price is able to extend over our second resistance @2.002689, we can be confident about entering a second BUY position unless price comes back down and breaks our first Resistance level. However if price looks to decline, we will need to verify our second confirmation of price entering a downtrend position and therefore breaking our Resistance 1 before looking to enter a SELL position. Fundamentals: The Australian Dollar hits low considering spike in January unemployment rate from 5.1-5.3%. Reserve Bank of Australia looks to revisit Australian economic outlook dictating additional guidance. Overall rate of GBPAUD has potential to hit May 2016 High depicting AUD weakness.
Long
by adelmourad
#eurusd - Between P-Y and P-QHello fellow traders, since EURUSD did not overcome the Yearly Pivot, it has been showing now, that for now it is accepting the Quarterly Pivot as temporary support. The white area you see is a historical area, where EURUSD does often accumulate. As this could be a retest of the falling c-c trend line, this levels have to be watched carefully until it either breaks up the Yearly Pivot, or breaks down the dotted yellow fractal lead line and the P-Q. As usual I have marked all important upcoming levels for you. At current price, EURUSD is maximum a hold (we have slightly increased bullish odds here). For scalpers this means, you would look out for both directions to trade. No reason to give one side a huge overweight at the moment. Neru
by Gl4diator
3