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EURUSD is trending downEuro exchange rate developments on the world market show that the EUR/USD index is currently at 1.0521, an increase of 0.0018 points, equivalent to 0.17% compared to the previous session. After yesterday's sharp decline, today the Euro has decreased. regained recovery momentum. A rebound in oil prices has had a negative impact on the already deteriorating Eurozone economy, and concerns about Italy's fiscal situation mean the downside for the Euro is growing. increases, increasing the possibility of this currency falling closer to the 1 USD/EUR mark. The main reason is because the USD is strong when the US economy is strong. However, there are internal factors, especially the impact of rising oil prices, that put the stagnant Eurozone economy at risk of weakening further. The common currency is vulnerable to rising oil prices, as net imports account for over 90% of the supply of petroleum products in the European Union. Nomura also forecasts that the Euro will fall to 1.02 USD/euro by the end of the year, a further 3% decrease from the current level.
Short
by FalCol_TradingMaster
Direction of movement of XAUUSDWorld gold prices last night almost only fluctuated in the range of 1,820 - 1,830 USD/ounce. By 6 a.m. on October 4, today's gold price was trading at 1,822 USD/ounce, on par with the price at the same time the previous day. According to analysts, after many days of continuous increase, the USD Index has reversed. going down, causing the USD to decrease in value compared to 6 other strong currencies, including: Euro, JPY, GBP, CAD, SEK and CHF. According to the latest figures from the World Gold Council, central banks bought 77 tonnes of gold in August, up 38% from purchases in July. Over the past three months, central banks have purchased 219 tons of gold after record net purchases in the first half of the year. Countries with USD-denominated debt continue to face high financing costs. James Robertson, an analyst at Grant's Interest Rate Observer, said the only way for countries to reduce those costs is to diversify away from the dollar and gold remains the most attractive global monetary asset. TVC:GOLD BUY 1827-1829 ✔️TP1: 1833 ✔️TP2: 1837 ❌SL: 1822
TVC:GOLDLong
by FalCol_TradingMaster
Direction of movement of XAUUSDWorld gold prices last night almost only fluctuated in the range of 1,820 - 1,830 USD/ounce. By 6 a.m. on October 4, today's gold price was trading at 1,822 USD/ounce, on par with the price at the same time the previous day. According to analysts, after many days of continuous increase, the USD Index has reversed. going down, causing the USD to decrease in value compared to 6 other strong currencies, including: Euro, JPY, GBP, CAD, SEK and CHF. According to the latest figures from the World Gold Council, central banks bought 77 tonnes of gold in August, up 38% from purchases in July. Over the past three months, central banks have purchased 219 tons of gold after record net purchases in the first half of the year. Countries with USD-denominated debt continue to face high financing costs. James Robertson, an analyst at Grant's Interest Rate Observer, said the only way for countries to reduce those costs is to diversify away from the dollar and gold remains the most attractive global monetary asset. OANDA:XAUUSD BUY 1827-1829 ✔️TP1: 1833 ✔️TP2: 1837 ❌SL: 1822
OANDA:XAUUSDLong
by FalCol_TradingMaster
Reversal Chart Pattern: WedgeWhat this chart pattern shows us is a loss of trend strength and a deceleration in price movement. The most achievable projection for setting our take profit will be the maximum width of the pattern, which occurs at the beginning of it. Alternatively, you can take the level that marks the start of the correction as a profit-taking point. As for the stop-loss level, it will depend on the type of entry made in the trade, whether it's a high-risk entry or a reduced-risk entry. (Like any other pattern or indicator, this one provides a signal of a possible market move. Therefore, the greater the number of confluences, the higher the probability that the observed scenario will occur). 💼💹 (🇬🇧)
Education
by FinanzasTip
SIGNAL PROVIDER TESTIMONIALSWhen choosing signal providers, it is a difficult task to determine the quality of the provider. One way of course is to look at testimonials. Testimonials are a common tool used by signal providers to showcase success stories or attract potential customers. While testimonials can provide valuable information about a provider's performance, they should be approached with caution. It is important to study them thoroughly. Here are a few key factors to consider when you read forex signal provider testimonials: 1. Authenticity First of all, you need to make sure that the testimonials are genuine and not fabricated. This is where details are important. Look for specific details such as the trader's name, location and trading experience. General or vague testimonials without any identifying information should alert you. 2. Verifiability Check if testimonials can be verified through independent sources. Reputable signal providers often provide links to their clients' social media profiles or trading accounts, which allows you to cross-check the information provided. Such transparency indicates a higher level of trust, as testimonials without verification are not a good sign. 3. Consistency Analyze the consistency of testimonials. Do they all sound the same or use identical wording? For example, identical and short sentences. Such testimonials may indicate that they are scripted or fake. Genuine testimonials should reflect individual experiences and vary in tone and content. 4. Duration Pay attention to the duration of the testimonials. Are they recent or written several years ago? Testimonials that cover a significant period of time indicate consistent performance and reliability. But too old testimonials, say left 3 - 5 years ago, may not accurately reflect the current work of the provider. 5. Third-party testimonials Look for independent reviews as we do for example or testimonials about the signal provider in reputable sources like Trustpilot. Such reviews can provide an unbiased point of view and verify the claims made in the testimonials. Internet forums, social media groups, and specialized review websites are excellent resources for finding such information. 6. Track record Evaluate the overall track record of the signal provider. Does it have a track record of generally providing accurate and profitable signals? Look for evidence of long-term success, including consistent positive testimonials from numerous clients that reflect the provider's profitability. In conclusion, while testimonials can be a valuable tool for assessing the reliability of signal providers, you should approach them with skepticism. Considering factors such as authenticity, verifiability, consistency, longevity, third-party testimonials, track record and trial period give informed decisions on which signal providers to trust. One must remember that thorough research and due diligence are crucial when choosing a reliable signal provider.
Education
by UnknownUnicorn15614419
5
UNDERSTANDING COMPLEX PULLBACKWhat is a two-legged pullback ? A two-legged pullback in the market is a pattern of price action in which the market retreats in two separate steps or movements before resuming its primary trend. This is a counter-trend move. After a strong trending move, price needs to sort of take a break and there is a double attempt to reverse the trend. When the price hits a strong zone, the price pulls back from it and if the trend does not continue, a second pullback occurs. Here the second pullback is approximately equal to the first one. We use this model for 2 purposes in the market: - Projection of the next move - End of pullback If you look at the market, it likes power of two, be it a double top/bottom, a double test of the uptrend, followed by a breakout. Let's look at the example of the recent movement on EURUSD. As we can see the asset has been in a strong bearish trend for a long time. The price bounced off the support and made the first pullback and then the second one. Note that the first pullback ended where there were no strong levels. But when we have the second pullback, we can see that it ends right at the strong resistance. This was an additional signal to enter a trend trade. A two-legged pullback in the context of the market Traders using the two-legged pullback strategy usually wait for both legs of the pullback to complete before entering a trade. It is very important to look at the context of the market here. If it happens that the second leg breaks through the lower high or higher low, it is a reason to be wary because it is usually a sign of a trend shift. The first leg can be projected and wait for the price at these levels. If it coincides with a strong level, it is a trade with a high probability of success. Let's look at some examples The recent example of gold shows well the interaction of a two-legged pullback with a strong level. The first time we got a pullback A. The price paused and then went up. The question remains where we should wait for price. We simply take the A pullback and project it and get the approximate end of the C pullback. This pullback ended on a strong resistance, which led to the price reversal . The EURUSD, too, after a strong bearish movement, rolled back to the resistance, making a two-legged pullback. Note that the EURUSD touched a strong level and fell. Although it did not lead to a complete reversal of the price, but we got a reaction and a short term trade. Here you can see a perfect example that there can be a third leg, which exactly led to the price reversal. The UKOIL example perfectly shows a trending trade. The price bounced off the resistance, and as you noticed there was a two-legged move before that. When A and B have formed, we use the projection method to wait for the price at the end of C. The last example is a great example of a perfectly formation of the two-legged pullback. The price has not yet triggered the level. But what do we have here? A downtrend, a two-legged pullback and a strong resistance at 1.66000. Will the trend continue, what do you think? Let's see. Traders, If you liked this educational post, give it a boost and drop a comment.
Education
by Lingrid
7
EURCAD: Your Trading Plan For Today 🇪🇺🇨🇦 EURCAD is trading in a strong bearish trend. After the price set a new lower low lower close on a daily, it retraced to a key daily horizontal resistance. To short the pair with a confirmation, monitor a head and shoulders pattern on 1H t.f. Its neckline breakout - hourly candle close below 1.422 will confirm the strength of the sellers. A bearish continuation will be expected then to 1.418 level. Remember, that if the price sets a new higher high, the setup will become invalid. ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
9
Gold is growing againThis morning, world gold prices continued to decline with spot gold down 11.4 USD to 1,864.8 USD/ounce. Gold futures last traded at 1,882.3 USD/ounce, down 8.6 USD compared to yesterday morning. Experts predict that gold is likely to fall deeper in the short term and even test the support level at $1,800/ounce after falling below $1,900 for the first time since March. However, , an optimistic market analyst said that any short-term weakness should not change the long-term bullish outlook for the precious metal. Ole Hansen, commodity strategist at Saxo Bank, said that, with the 10-year bond yield currently trading near a new 16-year high at 4.6% and the US Dollar Index holding at the highest level in nearly a year (above 106 points), gold's sell-off should have happened sooner. He added that, even after Wednesday's sell-off, gold prices remained relatively strong. OANDA:XAUUSD BUY 1861 - 1863 ✔️✔️ ✔️TP1: 1866 ✔️TP2: 1870 ❌SL: 1855
OANDA:XAUUSDLong
by FalCol_TradingMaster
Gold breakout and downtrend continuesGold fell sharply in the context of US Treasury bond yields reaching a 16-year high and profit-taking activities leading to a sell-off of precious metals. Gold is also under pressure from the USD hanging high near a 6.5-month peak. The DXY index (which measures the movement of the USD against 6 major currencies) is near 106 points Gold also decreased because a commodity closely related to gold, oil, dropped sharply. Petroleum demand is forecast to be suppressed as major central banks keep interest rates high for a long time. North Sea Brent oil price dropped to 92.8 USD/barrel, while US light sweet crude oil price (WTI) dropped to 89.3 USD/barrel
TVC:GOLDShort
by FalCol_TradingMaster
Gold trading strategy - the growth of goldGold spot price on the international market plummeted from 1,915 USD to 1,900 USD/ounce at 6:00 a.m. on September 27. This is the lowest price on the gold market in September 2023. The USD soared in value as investors were frightened by the commitment of major central banks to maintain high interest rates and control inflation. In particular, policymakers of the US Federal Reserve (FED) increasingly strongly support raising interest rates by the end of 2023 to bring inflation in the US back to the target of 2%. Futures are expected to stay high, causing international stock markets to sell off. On Wall Street (USA), the Dowjones dropped sharply by 388 points, the S&P 500 dropped 63 points, and the Nasdaq dropped 207 points.
TVC:GOLDLong
by FalCol_TradingMaster