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EURCAD BUY | Trading AnalysisHello Traders, here is the full analysis.
Watch strong action at the current levels for BUY. GOOD LUCK! Great BUY opportunity EURCAD
I still did my best and this is the most likely count for me at the moment.
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NZDJPY | COULD BE A GOOD BUY!The 1-4 hour trend is technically bearish, however, we just broke the 4h 100 moving average with a solid bullish engulfing candlestick, our stoploss covers daily moving average, and 12 hour is developing a good price action. Overall I think the higher timeframe bias will continue and this short-term bearish movement should fade. 📈😊
POSSIBLE PLAYOUT ON USDCAD We'll be keeping an eye on the USDCAD between 1.3700 and 1.3650 to see if there's any potential bearish momentum to trade short.1.3600 zone for the first take profit and 1.3500 zone for the second take profit. NOTE: USE ADEQUATE RISK MANAGEMENT.
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BluetonaFX - DXY 3 Month Resistance BrokenHi Traders!
DXY has finally broken its 3-month resistance at 104.240 and looks like it may possibly complete the reversal as it is heading for the 6-month resistance level.
104.240 was the level that needed to be broken to continue the bullish momentum; 104.240 is now support, and the price action is looking very strong with higher lows and higher highs. The market has just completed the bullish three-drive pattern, which further supports our bullish bias on DXY.
The next target is likely to be the psychological 150 level, and then we have the six-month resistance level at 145.488.
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BluetonaFX
Gold, to Long in the Weekly FrameLast week, the price of gold fulfilled my analysis as I predicted a long in the week from the support (1902/1904) to the 1926 where the EMA-200 is a resistance to the price but the setup was only 40 pips short of what actually happened last week.
In the weekly time frame, the gold chart is bullish as you can clearly see a tweezer bottom candle stick which indicates that the gold price can build up to the next required resistance of 1920/1922.
If the Gold price breaks the 1920 resistance, price can build up to the 1935 resistance. Gold bulls could take advantage of the in-decisiveness in the global economy.
If the price fails to break the 1920'1922 resistance, the gold bears could drive the price to a new low below 1884 to the trendline support at 1872/1875 which could spark a further decline to 1820.
In the coming week, the gold price could range between 1920 and 1904 before a possible break above to 1935 or break below 1900.
I expect the DXY to continue its bullish build above 104.450 to a possible required resistance of 105.654 which could make it difficult for the gold bulls to drive up the gold price above the resistance of 1920/1935 at some point.
GBPUSD is a little bit unpredictableGood day, traders.
This morning, GBPUSD is a little bit unpredictable. I'm keeping an eye on the price movement on a 30-minute period, but I won't make a judgment until there has been a breakout, maybe to the upside or downside. I'll be patiently waiting for the price to break and retest the 1.2734 zone to take my buy order, or for the price to break and retest the 1.2700 zone to trigger my sell order.
GOLD → False break of resistance could lead to a fall to 1939OANDA:XAUUSD is still under bearish pressure. A false break-down of the triangle resistance makes the price prepared for a further decline to 1939. What to expect from the price today?
The U.S. is having a day off today, so there will probably not be much volatility. The dollar index has been slowly strengthening since the opening session, which could cause the gold price to fall to 1939.
On Sunday, I did a review on the global gold situation and at this point, there is a lot of suggestion that gold could break 1939 support.
Locally, the technical analysis shows the same situation.
Until the bulls are able to break the resistance of the triangle, the situation will not change, but if the buyers can break through this area, the price will reach the resistance of the 1984, very quickly due to liquidity.
Resistance levels: the upper boundary of the triangle, 1963, 1984
Support levels: 1953, 1939
I expect price to decline to the support of the figure for another retest. But if the price tries to break the resistance (as there might be a strong consolidation as a reason for that), then the situation will change and it will be necessary to consider long positions to hold for 1984.
Regards R. Linda!
EURCHF The Short is coming!EURCHF is pushing downwards after the ECB's interest rate hike, with the euro weakness and strength of the Swiss franc considered the ultimate safe haven currency along with the yen. The objective now is to wait for it to drop to the 0.9710-0.9730 zone before considering a long or short scenario.
Let me know your thoughts in the comments.
Good trading to everyone, bye.
Forex48 Trading Academy
GoldViewFX - 4H CHART MARKET UPDATEHey Everyone,
As advised this morning after hitting our last open BUY target at 1673, that we were now looking for cross and lock with EMA5 above 1673 to secure the upper range upto 1691 or we would see a rejection here. We waited for the 1H chart test on this resistance level and secured a clean 50 pip SELL down to 1668 VIP INTRADAY level.
We are tracking and trading the movement up and down. BOOOOM!!!!
Although we are buying dips, we confidently took the sell when our signal activated. We have now also moved the swing range up to 1644 and expecting some retracement down before another challenge to 1673.
EMA5 CROSS AND LOCK ABOVE 1673 WILL OPEN 1691 AND 1700
Our plans to take buys from support levels are still in play and as such we will continue to pick sweet spots for safe entries and exits using our VIP intraday levels.
However, please note and take caution all MA's are starting to converge together gearing up for a BIG BREAKOUT.
As always, we will keep you all updated with regular updates throughout the week and how we manage the setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
RLinda ! EURJPY-> pre-breakout consolidation. What's next? The dollar strengthened broadly on Friday, affecting the EURJPY as well. The euro/jpy currency pair is renewing local highs and is aiming for the 149,000 zone.
New threats of intervention from the Central Bank of Japan forced investors to be on high alert.
On the global chart we see a global distributive movement after the exit from the 136.9 - 113.3 consolidation. At the moment the currency pair aims to reach the 149,000 zone
On the local timeframe, we see the formation of a resistance zone 147.250. After a prolonged pre-breakdown consolidation, the price is testing the breakdown resistance again. The local trend is ascending and below the local support there is a support zone, which may not allow the price to fall.
I expect a breakdown of 147.250 zone and price growth in the near term
The short-term target - resistance of 148.5
Medium-term target - 149.500 level of 2014
Regards R. Linda!
GoldViewFX - DAILY CHART UPDATED STRUCTUREHey Everyone,
Please see updated daily chart structure and setup.
We have identified and drawn a Goldturn descending channel, which is being respected well. We have also broken down the channel with the weighted Goldturns to track the movement level to level.
We saw a nice support test at channel floor above 1612 Goldturn with EMA5 creating a new Goldturn at 1643. This left Thursdays candle wicked out for the bounce needed for a test at 1675 Goldturn. This level also saw a clean rejection with Friday's daily candle also wicking out. We now have the daily chart range we need to monitor for a breakout.
EMA5 cross and lock above 1675 will open 1709
EMA5 cross and lock below 1643 will open 1612 and 1596
As always, we will keep you all updated with any changes to our plans throughout the week. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
GoldViewFX - 1H CHART UPDATED LEVELS & TARGETSHey Everyone,
Please see updated 1H chart with new weighted Goldturn support and resistance levels. This range now has a current blueprint for upper and lower levels. We can use EMA5 cross and lock to move level to level. We will trade this level to level with our Bias towards our long term trend BUYING dips.
We have updated a Goldturn Channel that is being respected well and falls inline with our MA setup for retracements and targets. We want to see more aggressive move up on market open or retracement down to 1743 Goldturn to be supported to continue with more upside movement. If we see a break below this level we will manage risk and hold tight for the swing range to get back in. We will continue to buy from dips within this range using specific entries and exits at VIP.
We will re-evaluate our plans only if we see structure support at 1685 break.
BULLISH TARGETS
1769
1779
1792
BEARISH RETRACEMENT TARGETS
1763
1752
1743
SWING RANGE
1718-1708
STRUCTURE SUPPORT
1685
As always we will keep you all updated with any changes to our plans throughout. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
GoldViewFX - Market UPDATEHey Everyone,
Lovely day of milking buys from support levels from the drop. We did take a position at the top, which we covered from positions from the bottom. Breaking down LOTs in small sizes in tight ranges is the best way to handle this market condition when positions get stuck in swings, we call this range management. We run an open and honest channel so like to share everything!
I have updated the 4H chart Goldturns with the most upto date levels. We have a tight range between 1843 and 1853 and price is playing between this closed range. We need to see EMA5 cross and lock outside this range to confirm a breakout to the next Goldturn.
1836 is still providing the overall support for this structure. We will not target the BULL targets directly, as the best approach for us is to buy from support levels, as long as we remain above the swing range. A break below this structure and we will review the 4H chart setup.
Bullish TARGETS
1853, 1865
Bearish RETRACEMENT TARGETS
1843
SWING RANGE
1830, 1836
As always we will keep you updated with any changes to our plans with regular updates throughout the day. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
GoldViewFX - 4H CHART UPDATE & ROADMAPHey Everyone,
Following on from the 1H chart analysis, I have applied a new setup on the 4H chart and tried to simplify the roadmap to guide the movement for me.
We have an AXIS target at 1940, which needs an EMA5 break and candle body close above 1905 GOLDTURN to confirm LOCK. We are looking for EMA5 to create a new Goldturn above 1890 to then HIT 1905 and above!
We have an AXIS target at 1854, which needs an EMA5 break and candle body close below 1890 to open 1870 and then a break and lock below 1870 to confirm 1854 AXIS.
Whilst we can see some movement down, the 4H CHART STRUCTURE looks very much BULLISH. We remain confident in buying dips from SUPPORT GOLDTURNS.
We will update all our setups daily throughout the week so stay tuned for the updates and please don't forget to LIKE, COMMENT and FOLLOW to support us.
GoldViewFX
XAUUSD TOP AUTHOR
GoldViewFX - 3H CHART UPDATE & TARGETS$Another awesome day of trading for TEAM GOLDVIEW!!
1806 Goldturn axis was hit, as per our post on the 16th December (see related post below). We identified this as a target and a strong level of support. Price was rejected at 1806 and failed to break down so we saw a retest back to 1820 level. Our buy entries from 1806 were all banked at 1819 and now we see price hover in between.
Its interesting to see, resistance levels like 1806 are now turning into strong support levels. This is a key example of the Bullish structure that gives us confidence to buy dips.
We will now wait to see 1806 break to confirm movement to the lower levels and if so we will change up our plans and update you all accordingly. There is room for price to challenge the lower part of the channel, however MA200 is also providing support here and this can give the momentum needed for a challenge back to 1817 and then 1825.
A bull flag formation is also inline with the upper part of the channel flagpole target at 1850.
All signals we took have TP'd and we are proud to say with a 100% hit rate for January. (See related post below on H1 targets)
Please dont forget to like, comment and follow to support us.
GoldViewFX
XAUUSD TOP AUTHOR
GBPJPY - DAY TRADE VIEWGBPJPY - As per the price action & daily chart patterns it is expected to go down from here.
My approach will be a sell here at current price 156.730
Potential downside target 155.700
Maintain stop loss around 157.150
Trade as per your risk appetite, I will be glad to see your likes & comment.
USDCHF potential for pullback! | 17 Nov 2021Price is on a bullish momentum and abiding to our ascending trendline. We see potential for short pullback from our sell entry at 0.93235 in line with 100% Fibonacci extension towards our Take Profit at 0.92731 in line with 23.6% Fibonacci retracement . Stochastics are at a level where dips previously happened.
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