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Overall view on XAUUSD or Gold - Update of August 12th's weekFundamental: The main focus for gold traders remains the Chinese yuan mid-point fix because it seems to set in motion all the other events that have been driving the price action this week such as the direction of global bond yields and demand for risky assets.The People’s Bank of China fixed its midpoint for the yuan at 7.0136 against the dollar on Friday – the second time this week the benchmark was set weaker than 7. The fundamentals remain strong enough for investors to maintain a bullish long-term outlook. Technical: After a tight consolidation gold and a false upward breakout, gold breaks the supply level and ceils to the highest point since 5 years with an increasing daily traded volume. Thus, another consolidation range was formed leading to a sideways market. The precious metal displays an upcoming volatility which will either bring it to 1600.000 or to the old supply level that became a demand zone. Advise: Stay neutral or buy at the lower range level and sell at the upper range level while we don't break 1510.000 upside and 1490.000 downside.
OANDA:XAUUSD
by Theperfectionist
EURUSD POTENTIAL LONG OPPORTUNITY (1D CHART) EURUSD POTENTIAL LONG IF YOU TAKE A LOOK AT THE EURUSD CHART YOU CAN START TO SEE SOME CHARACTERISTICS OF A POTENTIAL BULLISH MOVE ON THIS PAIR. YOU CAN SEE THERE WERE LOWS CREATED AROUND 1.11300 BEFORE PRICE MADE A DOUBLE BOTTOM AND A PUSH TO THE UPSIDE BREAKING RECENT STRUCTURE ON THE DAILY TIMEFRAME. THE SELLERS BROUGHT PRICE BACK DOWN AND AS YOU CAN SEE THE BUYER WAS ANXIOUS TO BUY PRICES AND CREATED A HIGHER LOW ON THE CHART WITH ANOTHER BULLISH MOVE THAT BROKE RECENT STRUCTURE AT THE 1.12700 AREA. IT IS STARTING TI DISPLAY THAT THE BUYER HAS INTEREST IN THIS PAIR AND THAT THE TENDENCIES ARE MOVING OVER TO THE BULLISH SIDE. LETS KEEP AN EYE OUT FOR ANOTHER POSSIBLE WEAK SELLER RE-TEST TO THE DOWNSIDE STRUCTURE AROUND 1.1300 AREA AND A POTENTIAL MOVE TO THE UPSIDE. LETS TAKE A LOOK 1D CHART: *PRICE IS MAKING HIGHER LOWS *DOUBLE BOTTOM WITH BUYER MOMENTUM *WEAK SELLER RE-TEST WITH BUYER PUSH *BREAKING STRUCTURE TO THE UPSIDE 4H CHART: *PRICE IS SHOWING THE START OF AN UPTREND TO THE UPSIDE *RECENT SELLER HAS NOW BEEN BROKEN ON THIS TIMEFRAME -WHAT I MEAN BY RECENT SELLER IS THE LAST SELLER PUSH TO MAKE THE LOWER LOW (DB) *LOOK AT THIS CHART FOR BETTER RISK/REWARD ENTRY REMEMBER TO ALWAYS USE PROPER RISK MANAGEMENT WHEN TRADING. NONE OF THESE SETUPS ARE A GUARANTEE AND ARE PRODUCED FROM TECHNICAL ANALYSIS OF THE MARKET. PLEASE LIKE AND FOLLOW MY PAGE FOR MORE SETUPS! CHEERS!
Long
by JosePips
USDRUB POTENTIAL LONG! (RUSSIAN RUBLE) USDRUB POTENTIAL LONG OK SO I USUALLY DON'T TRADE THIS PAIR BUT I WANTED TO THROW A COUPLE EXOTIC PAIRS INTO MY ANALYSIS FOR THIS WEEK. OK SO IF YOU TAKE A LOOK AT THIS PAIR YOU CAN SEE SOMETHING PRETTY SIGNIFICANT THAT JUST RECENTLY HAPPENED TO LEAD TO THIS ANALYSIS. IF YOU TAKE A LOOK JUST IN LAST COUPLE DAYS YOU CAN SEE A LARGE REJECTION TO THE DOWNSIDE AND BUYERS COMING IN TO PUSH PRICE WAY BACK UP ACTUALLY CLOSING PRICE FOR THE DAY ABOVE THE RECENT STRUCTURE SUPPORT. THIS DISPLAYS THAT THE BUYERS ARE VERY INTERESTED IN BUYING THIS PAIR (REASON DOESN'T MATTER TOO MUCH). SO WE CAN SEE THAT THEY ARE INTERESTED IN TAKING PRICE TO THE UPSIDE AND THAT THE SELLER DIDN'T HAVE ENOUGH CONTROL TO STOP THIS REJECTION TO HAPPEN; DISPLAYING BUYER CONTROL. NOW EVEN THOUGH PRICE ISN'T UP-TRENDING THE REJECTION, MOMENTUM, AND COMBINED WITH STRUCTURE, DISPLAYS A GOOD POTENTIAL BUY OPPORTUNITY. LOOK FOR CONTINUED BUYER MOMENTUM (INTEREST) AND GOOD RISK/REWARD RATIO! PLEASE LIKE AND FOLLOW MY PAGE FOR MORE PROFITABLE SETUPS! CHEERS!
Long
by JosePips
2
Possible USD/JPY short position !!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 1-2 Days Actions on - A – Activating Event Market will meet resistance in zone @current 108.7 - .... and fall to the 107.7 . In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market move towards the first Target 1 level @ 107.7 FX:USDJPY Trade Management Entered @ ..... Stop Loss @ ..... Target 1 @ 107.7 Target 2 @ .... Risk/Reward @ 2.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
EURUSD 1D - PatternOn this Daily chart a pattern is repeated within a downtrend channel. On a weekly chart those two patterns confirmed by reversal bearish bars, first being Engulfing candlestick and second being Evening Star candlestick both are rejecting off 20 EMA. Expectations to the downside. *RISK DISCLAIMER* None of the information above constitutes any form of investment advice. All of the opinions expressed are solely personal and are not a recommendation to trade any form of asset whatsoever. Online trading is extremely risky and you should seek advice from a certified professional. Past performance is not indicative of future results.
Short
by freedom_fighter
NZDCAD: Sell opportunity on a Death Cross.The pair is trading inside a 1W Channel Down (RSI = 43.198, MACD = -0.004, Highs/Lows = -0.0038) and is testing the Lower High belt. Following a Death Cross earlier this month, there are high chances for a continuation of the downtrend either within the channel or after a rejection on the MA200. Our TP is 0.85000. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Short
by InvestingScope
Overall View of EURUSD 1.13478 top level was reached after a sharp bull trend. Prices settled on a resistance zone and were subjected to a bear pressure. After a strong reversal signal on June 12th, the odds of a bear trend became higher. Possible targets : @1.12000 (+75pips) and @1.11200 (+150 pips). Advice : Stay bearish and sell at any high point while we don't break the resistance zone or 1.13478 top level. Correlated pairs : USDCAD (-87.8%) and XAUUSD (62.5%). We are more likely to experience a strong bull spike with the USDCAD while a minor effect on the XAUUSD.
Short
by Theperfectionist
EURUSD: High chances of breaking 1.1110 this time.The pair is currently on a strong decline and the reason is the rejection near the 1D MA200. Since this MA period broke downwards in April 2018, it has successfully held the price action below. In particular, this is the 4th time it has rejected the uptrend so closely. Every other time it has done so, the pair made a new Lower Low on the Monthly chart, which remains bearish (RSI = 42.218, MACD = -0.004, Highs/Lows = -0.0088). This is a strong sign that there are higher chances this time to break the 1.1110 Monthly Support which is holding since May 30, 2017. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Short
by InvestingScope
4
GBPSEK: Channel Up on 1W. Long term Buy opportunity.The pair is trading within a 1W Channel Up (RSI = 71.320, MACD = 0.168, Highs/Lows = 0.2551) since the start of the year. Recently a new aggressive bullish leg has been initiated on 1D (RSI = 70.181) which aims at a new Higher High for the Channel within 13.2000 - 13.3000. Note that the very same 1W Channel Up was traded from September 2017 - April 2018. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Long
by InvestingScope
EURJPY POTENTIAL SHORT OPPORTUNITY EURJPY POTENTIAL SHORT IF YOU LOOK AT THIS CURRENCY PAIR YOU CAN SEE THAT ON THE LEFT HAND SIDE OF THE 4H CHART THE DATA IS DISPLAYING VERY STRONG SELLER MOMENTUM OCCURRING. WHEN YOU APPLY THAT TO RECENT DATA MOVEMENT YOU CAN SEE THAT THERE WAS A STRONG SELLER PUSH TO THE DOWNSIDE LAST WEEK ON THE 4H CHART AS WELL AS A BREAK OF RECENT STRUCTURE. THIS IS SHOWING THAT THERE IS A HIGHER PROBABLE CHANCE OF THE MARKET CONTINUING TO THE DOWNSIDE. KEEP AN EYE ON THE MOMENTUM OF THIS RE-TEST INTO STRUCTURE. THE RE-TEST WILL GIVE A 75-80% BETTER DISPLAY OF WHAT THE NEXT PROBABLE MOVE COULD BE. MAKE SURE IT CONTINUES TO BE WEAKER THAN THE DROP FROM LAST WEEK. LETS BREAK IT DOWN 1D CHART: *STRONG SELLER MOMENTUM AS WELL AS BEARISH ENGULFING CLOSE ON THIS TIMEFRAME CHART 4H CHART: *ON THIS TIMEFRAME WE SAW A STRONG SELLER REACTION IN RECENT SIGNIFICANT STRUCTURE *STRONG PUSH AS WELL AS OBSTRUCTION OF STRUCTURE ON THE 4H TIMEFRAME CREATING A LOWER LOW 1H CHART: *ON THIS TIMEFRAME YOU CAN UTILIZE THE DATA TO BE ABLE TO GET A BETTER IDEA OF MOMENTUM COMING INTO PLAY BEFORE THE LARGER MOVE HAPPENS *WATCH THIS TIMEFRAME FOR ACCURACY OF ENTRY AS WELL AS RISK/REWARD RATION COMPARISON PLEASE LIKE AND FOLLOW MY PAGE FOR MORE PROFITABLE SETUPS! CHEERS!
Short
by JosePips