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GOLD Analysis 24July2023Last weekend Gold fell more than bullish trendline, it could be that at this time the price entered into the correction period. If you see, the price is held strong enough in the resistance area which in my opinion is also a liquidity area. Usually areas like this in the future will be pierced. Therefore, I try to add Elliot notation to this analysis chart, assuming that currently the correction period enters Wave 4, then the price will at least be stuck in SND which intersects with Wave 1 and then will continue bullish again
PEPPERSTONE:XAUUSD
by Hokusai_FX
GoldViewFX - Weekly Chart Gold ProjectionHey Everyone, This us our weekly chart idea that we have been tracking over the weeks. It has been playing as projected with the push up from support we shared last week. Please review the last update below to stay with the flow of our long term projection on this idea. We have a candle body close above 1956 leaving a gap to 2000. However, the channel half-line is acting as resistance. EMA5 cross and lock above the 1954 Axis will solidify the move by providing the momentum to break the half line for the range above. However, we need to keep in mind we are at the centre of the channel and therefore swings to test the channel bottom or top need to be part of our long term plans. As always we will use our smaller timeframes to manage this level to level. As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR LAST UPDATE Hey Everyone, Please see our weekly chart update, which has been playing out on every weekly review. We stated we were long term Bullish on this chart with short term bearish. We saw price go for a test to the channel bottom, which was supported by 1894 Goldturn for a push up. This push up was highlighted last week by us due to the price detachment to ema5 above and 1954 AXIS TARGET. This was completely to perfection. This is a strong area of resistance on the weekly chart with 1954 axis resistance and the channel half line providing resistance. We will no look for ema5 lock above 1954 to open the range above. Chart look bearish short term with a long term bullish outlook, as the short term target areas have potential for a nice bounce up. As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
1
USDJPY will go UP by Inverse Head and Shoulders Pattern🚀USDJPY is moving on 🟢 support zone(139.10 JPY-137.60JPY) 🟢. Also, USDJPY has managed to form an Inverse Head and Shoulders Pattern in the support zone. I expect USDJPY to start growing after completing the pullback to the neckline and at least touch the 🎯 target 🎯 of the Inverse Head and Shoulders Pattern. 📚Since the Regular Divergence(RD+) between the right and left shoulders is clearly visible, this point adds to the validity of the Inverse Head and Shoulders Pattern. 📚Another sign that increases the validity of the Inverse Head and Shoulders Pattern is that the momentum of USDJPY approaching the neckline is greater on the right shoulder than on the left shoulder. 🔅U.S.Dollar/Japanese Yen Analyze ( USDJPY ), 4-hour time frame⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
49
BluetonaFX - GBPUSD Potential 1.30000 Retest OpportunityHi Traders! There is potential for a retest of the psychological 1.30000 level on the GBPUSD. We can see here on the 1D chart that the market has been extremely bullish since the long-term resistance break of the 1.28486 level. We have had a price rejection at the 1.31424 level, and the market has now broken below the 1.31000 handle, which provides opportunities for possible shorts back to 1.30000. If we get a pullback to 1.30000 and the level does not hold, there is another target at 1.28486; this is the level that the market broke out from, leading to the push towards 1.31424. Keep stops tight here; if the market continues to the upside instead and 1.31424 breaks, the market is likely to continue towards 1.32000, and we will look for buying opportunities instead. Please do not forget to like, comment, and follow, as your support helps us greatly. Thank you for your support. BluetonaFX
by BluetonaFX
4
BluetonaFX - USDJPY Heading Back To 140Hi Traders! USDJPY has found support at the midpoint of the long-term impulse wave and is targeting a retest of the 140.000 resistance level. On the 1D chart, we have highlighted the long-term impulse wave from March 2023. We then found resistance at the 145.073 level and had a retracement wave to the midpoint of the impulse wave. The RSI reading also supports this, as the value was around the 30 level at the midpoint, which suggests that the market is possibly oversold at this point. 140.000 seems to be the next target. If the market reaches 140.000 and the resistance level holds, then we can expect a pullback to test the midpoint again as support. A break and a close above 140.000, and we are looking at a possible retest of 145.073. Please remember to like, comment, and follow, as your support greatly helps us. Thank you for your support. BluetonaFX 
by BluetonaFX
Forex Journal #2: NZDCAD Counter Trade In my journal, I'm noticing NZDCAD made a new lower low on the 4 hour timeframe. Although price is in an uptrend as clearly seen on the daily and weekly timeframe, any sells taken will be a countertrend trade. I prefer to trade down to my weekly estimation zone 0.81570 and entering on the 4 hour timeframe to keep the stop loss small. Trade at your own risk and risk level. I'd love if you can reply your thoughts and like the video for more
Short
by ShaquanLopez
GoldViewFX - Market Update on Targets - BOOOOM!Hey Everyone, A piptastic day for us and our followers. We completed all the Bull targets as analysed. We stayed firm with our bullish outlook with highlighting retracement and support Goldturns to buy dips. We completed the first Bull target at 1963 followed with the cross and lock above 1963 weighted level, which we advised will open 1973 and 1979. This played out to perfection completing all targets - BOOOOOM! This 1H chart idea is now complete and will only come back into play if we see a drop back into the range, in which case we can track and trade the movement back in the range level to level. However, Our 4H and Daily Chart ideas can now be used to track the remaining range and targets above should we see further continuation above. We will continue with our plans to buy dips and track the movement level to level using ema5 cross and lock on our updated Goldturn levels. Our long term projection still remains Bullish. BULLISH TARGETS 1963 - DONE EMA5 CROSS AND LOCK ABOVE 1963 WILL OPEN THE FOLLOWING BULLISH TARGETS 1973 - DONE 1979 - DONE BEARISH TARGETS 1949 - DONE 1944 1938 EMA5 CROSS AND LOCK BELOW 1938 WILL OPEN THE SWING RANGE SWING RANGE 1916 - 1910 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
19
GoldViewFX - Market UpdateHey Everyone, Great start to the week with our 1H chart idea already playing out. Price started with the move down for the correctional retracement we highlighted hitting 1949 first retracement target. Although the full retracement was not done, it was close enough in the range for a support bounce. 1949 Goldturn support allowed us to take buys from the drop for a nice clean buy from the bottom. We are likely to see some sideways ranging price action between the two structures until one breaks. We will need to see the 1963 weighted structure break and lock to open the range above or a break and lock below the retracement range to open the swing range. Failure to lock below the retracement range will follow with a continuation above. We will continue with our plans to buy dips and track the movement level to level using ema5 cross and lock on our updated Goldturn levels. Our long term projection still remains Bullish. BULLISH TARGETS 1963 EMA5 CROSS AND LOCK ABOVE 1963 WILL OPEN THE FOLLOWING BULLISH TARGETS 1973 1979 BEARISH TARGETS 1949 - DONE 1944 1938 EMA5 CROSS AND LOCK BELOW 1938 WILL OPEN THE SWING RANGE SWING RANGE 1916 - 1910 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
4
BluetonaFX - Forex Weekly RecapHi Traders! Forex Weekly Recap for 10–14 July, 2023: Fundamentals Federal Reserve member Barr noted that inflation in the US is too high, and their focus is on bringing inflation down to target. He acknowledged that they have made a lot of progress on inflation and that they are close to the end of the hiking cycle, but they still have work to do. Federal Reserve member Kashkari noted that if high inflation in the US continues, they may need to raise rates further. He also noted that they must succeed in bringing inflation down but admitted that higher rates could increase pressure on banks; therefore, bank supervisors must ensure that all banks are prepared to withstand a higher rate environment. European Central Bank (ECB) member Villeroy noted that they are close to the peak in interest rates, and once the peak has been reached, they will need to stay at that level for a while. He also noted that they are starting to see positive news on inflation, and they predict it will continue to decline and be back to their 2% target by 2025. Reserve Bank of Australia’s (RBA) Governor Lowe noted that it is possible there are more rate hikes to come to try and bring inflation in Australia back to target. He also noted that they are yet to see whether monetary policy has more work to do as the inflation problem is complex and there are a number of uncertainties regarding the outlook. He stated that he’s "deadly serious" about bringing inflation back to target and that he’s confident that higher interest rates are working. Reports from Japan noted that the Bank of Japan (BoJ) is likely to raise its Fiscal Year 2023 (FY2023) inflation forecast above 2%. It was previously expected for inflation to fall in September or October; however, now they are no longer confident in this happening. Former BoJ director Hayakawa noted that he expects the BoJ to tweak Yield Curve Control (YCC) at the July meeting (27–28, July 2023). Key Data The UK payrolls came in worse at 102K vs. 125K expected and 250K prior. The UK unemployment rate came in worse at 4.0% vs. 3.8% expected and 3.8% prior. The Reserve Bank of New Zealand (RBNZ) left its cash rate unchanged at 5.50%, as expected. The Bank of Canada (BoC) raised interest rates by 25 basis points (bps) to 5.0% as expected. The US CPI came in worse, with the Y/Y figure at 3.0% (2.97% unrounded) vs. 3.1% expected and 4.0% prior. The M/M came in worse at 0.2% vs. 0.3% expected and 0.1% prior. The UK's May monthly GDP came in worse at -0.1%, vs. -0.3% expected and 0.2% prior. The US PPI came in worse, with the Y/Y figure at 0.1% vs. 0.4% expected and 1.1% prior, and the M/M figure at 0.1% vs. 0.2% expected and -0.4% prior. The US Initial Jobless Claims came in better at 237K vs. 250K expected and 249K prior. Technicals  The US dollar continues to be under serious pressure, and its major counterparts have made large gains against the greenback this week. AUDUSD 1W Chart The bullish bias on the AUDUSD weekly chart continues; we are close to a triangle breakout. The first resistance level is at 0.68999, and above that is the psychological level at 0.70000. USDJPY 1W Chart The bearish momentum continues on USDJPY; the 140 level was broken this week. We have currently found some support at 137.915, which is the area we had the previous bullish breakout from. EURUSD 1W Chart EURUSD finally broke the psychological 1.10000 level after a retest of the original pullback at that level last month. As soon as the 1.10000 break occurred, there were huge waves of bullish momentum to break the long-term resistance at 1.10956. The market is now trading just above the 1.12000 area; if the bullish momentum continues, there is a long-term resistance level at 1.14950. GBPUSD 1W Chart GBPUSD broke June 2023's high at 1.28486. This break also took the market above the psychological 1.30000 level. The market is trading around the 1.31000 area, and there is a resistance level at 1.31610, which is December 2021's low. We will be back with another Forex Weekly Recap report next week. Best of luck for the trading week ahead. Trade safely and responsibly. BluetonaFX
by BluetonaFX
BluetonaFX - USDJPY Potential Head & Shoulders OpportunityHi Traders! There is a potential head-and-shoulders pattern forming on the USDJPY 1D chart. As we predicted in our previous analysis of the NFP announcement, USDJPY is now in a potential reversal of the bullish trend we have seen in the past couple of months. The potential right shoulder and neckline have been drawn on the chart, along with the already-formed left shoulder and head. We expect a slowdown to the bearish momentum, followed by a consolidation period to complete the right shoulder, and then continuation to break and close below the neckline. A break and close below the neckline will target the support level at 137.915. This is the area where the market broke out to the upside to start the bullish wave, so we could potentially return to this point. To note, tomorrow we have very important inflation data coming from the US; therefore, if the data is negative, this will put further pressure on the US dollar, and we could see an immediate bearish push to target 137.915. Please do not forget to like, comment, and follow. Thank you for your support. BluetonaFX
by BluetonaFX
2
EURGBP still showing downside - with warningM Formation on a large scale has formed. We had the price break below and then retest the pattern once again. Thing is we haven't had the price break above the downtrend as of yet. This means, the bias does remain bearish but anything can change if the selling doesn't continue. 200>21>7 (bearish) RSI<50 (Lower highs) Target -0.8200 SMC (Buy Side Liquidity is where Smart Money comes in and sells into the Order Block. However, with the price still flirting at the support means, the selling is not as a strong as anticipated. I'm bearish but cautiously bullish if the price does break above the downtrend.
Short
by Timonrosso