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USD/JPY Price Analysis (1H)The price of USD/JPY is currently approaching a support level and could be setting up for a pullback. If it bounces off this support, we could see a potential upward move. However, if the support is broken, the next target could be the next support level Key scenarios to watch: If the price bounces back from the support, it may signal a reversal. If the price breaks out below the support, it could move toward the next support level. Let’s monitor closely and see how it develops!
by rebenga93
Trading Idea: GBP/EUR Resistance BreakoutCurrent Resistance Level: GBP/EUR is currently facing a resistance level. If the price breaks above this resistance, it could signal a potential bullish breakout. Next Target: After the breakout, the next key resistance level becomes the target. Bullish Pattern: There is also a potential bullish pattern forming, which could further support the breakout scenario. A confirmed breakout above the first resistance could lead the price to rally toward the second resistance level. Confirmation: Wait for a clear break and close above the current resistance, and a confirmation of the bullish pattern, to strengthen the breakout signal. Risk Management: Consider placing a stop-loss below the previous support level to manage risk in case of a false breakout.
Long
by rebenga93
USD/JPY Bearish Setup: Anticipating Rejection at Resistance Hello traders! Today, I’m taking a closer look at the USD/JPY pair on the 1-hour time frame, where I’m anticipating a potential bearish move. Here’s my plan: Resistance Level: a key zone where it has previously reversed. If the price tests this level again, I’ll be watching for a potential rejection. Reversal Signals: I’ll be paying close attention to bearish candlestick patterns, such as shooting stars or bearish engulfing patterns, to confirm that the resistance is holding and selling pressure is building. Momentum Check: I’ll also monitor the overall market momentum. If the upward movement starts losing steam near the resistance, this could be an early sign of a potential reversal. Risk Management Strategy: To manage my risk, I’ll place a stop loss slightly above the resistance level, protecting against a potential breakout.
Short
by rebenga93
EUR/USD Bullish Setup: Anticipating a Bounce from Key SupportHello traders! Today, I’m analyzing the EUR/USD pair on the 1-hour time frame. We’ve seen some strong movement recently, but right now, the price is approaching a critical support level. This level has held strong in the past, and based on my analysis, I believe we could see a bullish bounce from this zone. Here’s what I’m looking at: Support Level: The price is nearing support level, a key area where it has previously bounced. If the price retests this level and holds, it could signal a continuation of the bullish trend. Price Action Patterns: I’ll be watching closely for bullish reversal candlestick patterns, like a hammer or bullish engulfing pattern, to confirm the strength of the support. This would suggest buyers are stepping in, and the price could start to rise. Momentum Check: I’ll keep an eye on the overall market momentum by observing the price movement around the support zone. A slowing down of the sell-off or a shift in momentum could further support the idea of a bounce. Risk Management Strategy: To manage my risk, I’ll set a stop loss slightly below the support level to safeguard against any potential breakdown. For profit targets, I’m eyeing as the first goal, with room for more gains if the bullish momentum continues.
Long
by rebenga93
DXY Will Go Lower From Resistance! Short! Take a look at our analysis for DXY. Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 101.728. The above observations make me that the market will inevitably achieve 100.553 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
TVC:DXYShort
by SignalProvider
1
The USD in a ConundrumThe USD at the start of the year was trading near the 100 lvl but has managed to push above the 106 lvl in a little over a few months. If price is able to break out of the 107 lvl, there isn't to many resistances for the USD to break (the 108 could be one) and price might be able to hit the 114 lvl made in 2022. With the CPI data coming in a little higher then expected and traders/investors/analysts speculating that the FED will likely hold off on reducing rates (currently, FED Rate Monitoring tool is showing a 71.7% chance of FED holding rates), the elections coming up, conflicts in the Middle East/Europe/Asia, continued government spending (which keeps increasing), not enough government revenue which leads to more borrowing, this puts the FED between a rock and a hard place. Will the FED continue to hold rates and potentially push the economy to a recession (and a real one not one that did happen but supposedly didn't happen, back in 2022 Q1/Q2) or continue on with lowering rates, keep the economy going and potentially cause inflation to spike? Either way it is No Bueno. What is interesting is how commodities such as Gold/Silver/Oil are pushing up higher while the USD pushes up higher. These products are typical non correlated to each other, yet, currently they are. The USD shot up to 106. Silver from the start of the year pushed up from near 22 to now coming close to hitting 30 before pulling back to below 28. Gold pushed lower to below 2,000 in the beginning of February and pushed above 2,440 before pulling back to 2,360. Oil began near 70 and is trading above 85. So, when things return to the mean (non correlated), either the USD will take a hit or commodities will. The main things is how much of a hit will happen. Risk assets such as the stock market are finally taking a hit as the market just kept climbing and climbing, with the DJ Futures Market pushing past 40k and finally being cracked in the beginning of April. I am thinking that the USD might be able to hit the 108 lvl as other Central Banks are holding onto rates (just recently the ECB stuck to holding rates). If the FED holds onto current rates and other banks decide to reduce rates, the USD will skyrocket higher. If other banks decide to keep holding rates while the FED does, it will likely be whose economy can withstand the higher rates the longest. Protect yourselves with either reducing position sizing to withstand a large move, hedge, or do not be in a trade and see if price moves how you are speculating it. I have no position on the USD or in Forex itself (I'm tied up in other trades), but I am watching this because it is part of the plan I have when my other positions in other trades are completed. Y'all have some great trading out there.
INDEX:DXYLong
by DollarSaenz
EURUSD H4 27 March 2024🇪🇺 EUR/USD, H4 🇺🇸 27 March 2024 The EUR/USD pair experienced a modest retracement after bouncing back from its recent low around 1.0800. This retracement was driven by a strengthening of the dollar yesterday, supported by upbeat U.S. economic data. In contrast, the euro lacked significant catalysts for further gains. Moreover, with the euro's Consumer Price Index (CPI) being lower than that of the U.S. and UK, market expectations of a potential rate cut by the European Central Bank (ECB) have been growing, adding downward pressure on the euro. EUR/USD retraced from its technical rebound, suggesting the pair remain trading with its long-term bearish trajectory. Suggests the pair remain trading with bearish momentum. Resistance level: 1.0866, 1.0955📉 Support level: 1.0780, 1.0700📈
Short
by top_fx
EURUSD H4 20 March 2024EUR/USD, H4 20 March 2024 The EUR/USD pair has recovered from its lowest point in March, ahead of the critical Federal Open Market Committee (FOMC) interest rate decision. A hawkish stance from the Fed could place additional downward pressure on the pair. Nonetheless, the pair has been supported by encouraging data from the ZEW Economic Sentiment Index, which recorded a value of 33.5, surpassing the previous figure of 25. This indicates an optimistic economic outlook within the eurozone economies. EUR/USD remains trading in a descending trajectory despite a technical rebound. Suggests the pair remain trading with bearish momentum. Resistance level: 1.0960, 1.1040📉 Support level: 1.0775, 1.0700📈
Short
by top_fx
Us Dollar Weakness - Will Price Drop To $100 Again?The US dollar experienced a notable 1.3% drop at the end of last week, following a 0.49% gap down on Thursday. In contrast, the S&P 500 gained 0.3% on Thursday and 2.49% over the week. Since September 2022, the dollar has been volatile, falling 13% from a high of $114, briefly dipping below $100, then recovering 7%, and falling again by 4.8%. This erratic behavior makes it hard to predict the dollar's future movements. The dollar's latest decline suggests it might retest the $100 level, a crucial support zone. If the dollar starts to rise, surpassing the October high of $107 will be critical, as it could signal a shift from the current downward trend to a potential upward trend. If you enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
ICEUS:DX1!
by Sublime_Trading
💡 EURUSD: Prediction for December 1After being blocked around the 1.1000 resistance zone, the price fell sharply in the past session as expected. Currently, a three-candle bearish reversal pattern has appeared on the daily and it has also violated the uptrend line, the signals show. This signal shows the possibility that the price will continue to adjust. Temporarily suspend trading for now, you should wait for the opportunity to return with buy orders around the price range of 1,075.
Short
by Stone_Haven
10