Get started

Forexanalysis

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
GoldViewFX - MARKET UPDATEHey Everyone, Our chart idea has played out perfectly hitting the bullish targets we shared and in order. We got the retracement followed with the push up to the bullish targets, working perfectly inline with our plans to buy dips. Yesterday we shared the two open targets to 1930 and 1934 within this structure. Both the targets were hit perfectly today. - BOOOOM! We now also have a ema5 cross above the weighted structure opening the range above. However, 1938 is acting as resistance. A further cross and lock above 1938 will provide extra confirmation for this new range to be tested. We will continue to trade from dips and manage any open positions within the range by buying dips. 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 1925 - DONE 1930 - DONE 1934 - DONE EMA5 CROSS AND LOCK ABOVE 1934 WILL OPEN THE FOLLOWING BULLISH TARGETS 1938 1944 1950 BEARISH TARGETS 1920 - DONE 1913 - DONE EMA5 CROSS AND LOCK BELOW 1913 WILL OPEN THE SWING RANGE SWING RANGE 1895 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
14
EURGBP downside due to a large M FormationM Formation has been in the making since 19 August 2022. The price then broke below the neckline, restested and is now showing a ton of downside to come. We have other indicators showing bearishness. 200>21>7 (bearish) RSI<50 (Lower highs) Target -0.8200 SMC (Buy Side Liquidity Order Block is clearly shown (green box) Smart Money sells into positions (and sweeps liquidity) from traders who are short (get stopped) and for long traders who buy and enter into their trades.
Short
by Timonrosso
1
⚠️CADCHF crash by Head and Shoulders Pattern⚠️CADCHF managed to form a Head and Shoulders pattern after breaking the uptrend line. Also, CADCHF managed to break the neckline and 🟢 support zone(0.673CHF-0.672CHF) 🟢 in the past hours. 🔔I expect CADCHF to decline at least until the next 🟢 support zone(0.664CHF-0.661CHF) 🟢. 🔅Canadian Dollar/Swiss Franc Analyze ( CADCHF) 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.
Short
by pejman_zwin
25
BluetonaFX - EURUSD Cup & Handle Pattern OpportunityHi Traders! There is a potential cup and handle pattern here on the EURUSD 1D chart. After the down wave and then up wave, the market has now reached the psychological level of 1.10000. The market has not been around this level for more than a month, so we expect some resistance here, therefore we have drawn the potential cup handle on the chart. The potential cup handle consists of a possible consolidation period near a key resistance level before another attempt to close and break above the level. 1.10000 is the key level; the market must break and close above this level for a continuation upwards. There is a long-term price rejection resistance level at 1.10956; there are also multiple price resistance candles near this level, which we have highlighted on the chart. If this potential pattern fails and there is no bullish momentum to break and close above 1.10000, the chart pattern will change to a bearish pattern, and we will look for opportunities to short. Please do not forget to like, comment and follow. Thank you for your support. BluetonaFX
by BluetonaFX
6
GoldViewFX - MARKET UPDATEHey Everyone, Great start to the week with our chart idea already [laying out to perfection. We got the drop into the highlighted retracement area, which gave the perfect reset bounce back into the range hitting the route map targets highlighted by our arrows. We captured a clean 50 pip signal inline with our plans to buy dips. Price is sitting between the support and resistance structure with immediate targets above at 1930 and 1934. We will need to see the 1934 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 1925 - DONE 1930 1934 EMA5 CROSS AND LOCK ABOVE 1934 WILL OPEN THE FOLLOWING BULLISH TARGETS 1938 1944 1950 BEARISH TARGETS 1920 - DONE 1913 - DONE EMA5 CROSS AND LOCK BELOW 1913 WILL OPEN THE SWING RANGE SWING RANGE 1895 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
8
BluetonaFX - AUDUSD Trendline Break OpportunityHi Traders! There is a trendline break opportunity on the AUDUSD 2H chart. After the huge bullish momentum push from the Nonfarm Payroll announcement this past Friday, AUDUSD has now pulled back aggressively near the resistance level at 0.67056, which indicates that there is bearish momentum at this current time. For an entry signal, we are looking for a momentum break and a close below the trendline to target the support level at 0.65953, which is also June 2023's low. If we do not get a momentum break and close below the trendline, we can look for buying opportunities just above the trendline for another potential resistance test at 0.67056. Please do not forget to like, comment, and follow. Thank you for your support. BluetonaFX
by BluetonaFX
GoldViewFX - 1H CHART UPDATED LEVELS AND TARGETSHey Everyone, Please see our 1H chart updated Goldturn levels and targets. Price is sitting between the support and resistance structure with immediate targets above at 1930 and 1934 and a retracement reset range at 1913. We will need to see the 1934 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 1930 1934 EMA5 CROSS AND LOCK ABOVE 1934 WILL OPEN THE FOLLOWING BULLISH TARGETS 1938 1944 1950 BEARISH TARGETS 1920 1913 EMA5 CROSS AND LOCK BELOW 1913 WILL OPEN THE SWING RANGE SWING RANGE 1895 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
13