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Market Analysis: USD/JPY Corrects GainsMarket Analysis: USD/JPY Corrects Gains USD/JPY is correcting gains and now consolidates below 156.00. Important Takeaways for USD/JPY Analysis Today - USD/JPY is trading in a bearish zone below the 157.00 and 156.60 levels. - There is a connecting bearish trend line forming with resistance near 155.90 on the hourly chart at FXOpen. USD/JPY Technical Analysis On the hourly chart of USD/JPY at FXOpen, the pair started a steady decline from well above the 158.00 zone. The US Dollar gained bearish momentum below the 157.00 support against the Japanese Yen. The pair even settled below the 156.60 level and the 50-hour simple moving average. There was a spike below 155.00 and the pair traded as low as 154.77. It is now correcting losses and trading above the 50-hour simple moving average and the 50% Fib retracement level of the recent decline from the 156.58 swing high to the 154.77 low. Immediate resistance on the USD/JPY chart is near a connecting bearish trend line at 155.90. It is near the 61.8% Fib retracement level of the recent decline from the 156.58 swing high to the 154.77 low. The first major resistance is near the 156.60 zone. If there is a close above the 156.60 level and the hourly RSI moves above 60, the pair could rise toward 157.00. The next major resistance is near 157.70, above which the pair could test 158.50 in the coming days. On the downside, the first major support is near 155.35. The next major support is near the 154.80 level. If there is a close below 154.80, the pair could decline steadily. In the stated case, the pair might drop toward the 154.00 support. Trade on TradingView with FXOpen. Consider opening an account and access over 700 markets with tight spreads from 0.0 pips and low commissions from $1.50 per lot. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
1
Market Analysis: EUR/USD Starts IncreaseMarket Analysis: EUR/USD Starts Increase EUR/USD started a decent upward move above the 1.0350 resistance. Important Takeaways for EUR/USD Analysis Today - The Euro found support and started a recovery wave above the 1.0360 resistance zone. - There is a key bullish trend line forming with support near 1.0395 on the hourly chart of EUR/USD at FXOpen. EUR/USD Technical Analysis On the hourly chart of EUR/USD at FXOpen, the pair started a fresh increase from the 1.0265 zone. The Euro climbed above the 1.0310 resistance zone against the US Dollar. The pair even settled above the 1.0350 resistance and the 50-hour simple moving average. Finally, it tested the 1.0435 resistance. A high is formed near 1.0434 and the pair is now consolidating gains. There was a minor decline below the 23.6% Fib retracement level of the upward move from the 1.0266 swing low to the 1.0434 high. Immediate support is near the 1.0395 level. There is also a key bullish trend line forming with support near 1.0395. The next major support is at 1.0350 and the 50% Fib retracement level of the upward move from the 1.0266 swing low to the 1.0434 high. If there is a downside break below 1.0350, the pair could drop toward the 1.0310 support. The main support on the EUR/USD chart is near 1.0265, below which the pair could start a major decline. On the upside, the pair is now facing resistance near 1.0435. The next major resistance is near the 1.0450 level. An upside break above 1.0450 could set the pace for another increase. In the stated case, the pair might rise toward 1.0550. Trade on TradingView with FXOpen. Consider opening an account and access over 700 markets with tight spreads from 0.0 pips and low commissions from $1.50 per lot. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
1
Weekly Forex Trade Planning SessionAnalysed Pairs: CAD/JPY, GBP/USD, USD/JPY, USD/CAD, EUR/CAD Market Overview: USD & JPY: Bullish CAD: Mixed EUR & GBP: Weak Price Analysis: CAD/JPY: Trend: Downtrend Current Position: At Momentum Low Outlook: Expecting a bullish pullback in the next phase. GBP/USD: Trend: Downtrend Current Position: Trading at Momentum Low 5 Outlook: Potential for bearish continuation. Watch for a bullish reversal above 1.2186. A break below 1.2160 could signal further downside. USD/CAD: Trend: Strong Uptrend Current Position: After a trend reset breaking the momentum high Outlook: Avoid buying at the high; wait for a pullback to go long. Alternatively, look for short opportunities if the price breaks below the reset point. USD/JPY: Trend: Correction in Downtrend Current Position: Observing Wave Structure 3 Outlook: Potential for a bullish secondary trend. Using Fibonacci levels, the price has paused at the 61.8% T2 target. If the high of Wave 3 isn't broken, the downtrend may resume. EUR/CAD: Trend: Trend-changing pattern after last pullback Outlook: Look to sell on a break below 1.4860, with targets at 1.4825 and 1.4810. Happy Trading!
by Charts247TradingAcademy
USDCHF - ANALYSIS👀 Observation: Hello traders! Here’s my analysis for the USD/CHF pair. I’m expecting a small pullback before the price continues its bullish movement upward. My first target for this move is 0.92448 . However, if the price consolidates below 0.90084 on the 1H timeframe, I anticipate a downward move. 📈 Expectation: Bullish continuation towards 0.92448 , unless the 0.90084 level is broken to the downside. If 0.90084 breaks and consolidates, expect a bearish move lower. 💡 Key Levels to Watch: Target: 0.92448 Support to hold: 0.90084 💬 What’s your perspective on USD/CHF? Share your thoughts in the comments below! Trade safe
Long
by PouyanTradeFX
USDCAD - ANALYSIS👀 Observation: Hello traders! Let’s analyze the USD/CAD pair. Based on the current price action, we are observing a range breakout, and I expect the price to continue its bullish movement upward. My first target for this bullish move lies between 1.46685 and 1.46966 . 📈 Expectation: Bullish continuation towards the target range of 1.46685 - 1.46966 , following the range breakout. 💡 Key Levels to Watch: Target Range: 1.46685 - 1.46966 💬 What’s your outlook for USD/CAD? Share your analysis in the comments below! Trade safe
Long
by PouyanTradeFX
AUDUSD - ANALYSIS👀 Observation: Hey traders! Here’s my analysis for the AUD/USD pair. I’m currently expecting a small pullback before the price continues its downward trend. My first target for this move is between 0.60780 and 0.60430 . However, if the Australian Dollar breaks above 0.63022 on the 1H timeframe and holds, I anticipate a pullback towards higher levels on the higher timeframes. 📉 Expectation: Downward movement towards 0.60780 - 0.60430 , unless 0.63022 is broken. If 0.6322 is broken to the upside, expect a pullback on higher timeframes. 💡 Key Levels to Watch: Target Range: 0.60780 - 0.60430 Resistance to break: 0.63022 💬 What’s your take on AUD/USD? Let me know your thoughts in the comments below! Trade safe
Short
by PouyanTradeFX
XAUUSD - ANALYSIS👀 Observation: Hello traders! Let’s dive into my analysis for gold ( XAU/USD ). Since 18 Nov 2024, we’ve observed a range-bound movement where the price bounces between the range's floor and ceiling. Currently, we’re at the weekly range ceiling, and I anticipate a downward move toward the range floor. My first target for gold is 2606 . However, if the price consolidates above 2720 on the daily timeframe, we could see a breakout to new all-time highs. 📉 Expectation: Downward move from the range ceiling to the range floor at 2606 , unless the 2720 level is broken. If 2720 is broken and holds, expect a bullish breakout and potential for new highs. 💡 Key Levels to Watch: Range floor target: 2606 Key resistance: 2720 💬 What are your thoughts on gold’s next move? Share your insights in the comments below! Trade safe
OANDA:XAUUSDShort
by PouyanTradeFX
EURUSD - ANALYSIS👀 Observation: Hi everyone! Here's my analysis for the EUR/USD pair. Based on the current chart, I expect the price to continue its downward trend after a small pullback. My first target for this move is 1.00938 . If EUR/USD breaks above the 1.04370 level on the 1H timeframe and holds, I anticipate a shift in momentum and further upward movement. 📉 Expectation: Downward continuation to 1.00938 , unless the 1.04370 level is broken. If broken and consolidated, a bullish scenario could unfold. 💡 Key Levels to Watch: Target 1: 1.00938 Resistance to break: 1.04370 💬 What’s your perspective on EUR/USD this week? Share your analysis in the comments! Trade safe
Short
by PouyanTradeFX
DXY - ANALYSIS👀 Observation: Hello, everyone! I hope you're all doing well. Today, I want to share my personal view on the Dollar Index (DXY) with you. Based on what I see on the chart, I expect the Dollar Index (DXY) to reach the resistance zone of 110.668 to 110.877 . After a small pullback, I anticipate it will start its bullish movement upwards. If the 107.750 level breaks downward and consolidates on the 1H timeframe, a further decline could follow. 📈 Expectation: After a minor pullback, the DXY is likely to initiate a bullish movement and continue its upward trend. 💡 Key Levels to Watch: Resistance Zone: 110.668 - 110.877 💬 What’s your view on the Dollar Index this week? Share your thoughts in the comments below! Trade safe
TVC:DXYLong
by PouyanTradeFX
GBP/JPY Technical Analysis: Targeting 500+ Pips GBP/JPY is currently priced at 190.200, with a target price of 185.000, implying a potential gain of 500+ pips. The analysis indicates that the pair is approaching a major trendline, which acts as a strong support level. This suggests the price may reverse or consolidate around this level. A break below the trendline could signal further downside potential, aligning with the bearish target. The 500-pip gain signifies a significant price movement, highlighting the importance of proper risk management. Traders should monitor price action near the trendline for confirmation. The setup reflects a technical pattern where the trendline's strength will likely dictate the next move. This level serves as a critical zone for potential entry or exit decisions. Staying alert to market sentiment and economic events related to GBP and JPY is essential for validation.
Short
by AndrewsMarket-Mastery
NZD/USD Poised for a Breakout ?The NZD/USD pair shows signs of potential bullish momentum following a bounce from a key support level near 0.55900. Price is currently challenging the 0.56028 resistance, with further upside likely if this level is broken and sustained. The downward sloping moving average indicates a prevailing bearish trend, so this move could be a short-term retracement or a possible trend reversal depending on market strength. Key Insights Entry Area: Around 0.55940 – 0.56028 Stop-Loss: 0.55103 to manage downside risk First Target: 0.56156 Second Target: 0.56370 Final Target: 0.56781 Watch for a confirmed breakout above 0.56028 for a continuation toward higher levels. A failure to hold above 0.55900 could trigger further downside movement. Market volatility and U.S. dollar news should be closely monitored for momentum shifts. This setup offers a solid risk-to-reward ratio, balancing caution and opportunity in the current market structure.
Long
by wolfchemist
USDCHF PredictionUSD/CHF current price stands at 0.90960, meaning 1 US Dollar equals 0.90960 Swiss Francs. The target price is set at 0.95000, indicating an expectation that the price will rise towards this level. The potential gain in pips is over 500 pips, with each pip representing a 0.0001 change in the exchange rate. The strategy is based on the support and resistance pattern, where price movements are analyzed at key levels of support (price floors) and resistance (price ceilings). Before reaching the target of 0.95000, the price is expected to retest the 0.89000 level, which could act as a support zone. This retesting implies that the price may temporarily drop to 0.89000 before continuing its upward trend. If the support at 0.89000 holds, the price is expected to bounce back and resume the move towards the target. The current price of 0.90960 offers an entry point for traders looking to buy, with the anticipation of the price rising to the target. The overall strategy suggests a short-term dip before a longer-term upward movement, providing a favorable risk-to-reward scenario for traders.
Long
by AndrewsMarket-Mastery
EUR/USD Break-and-Retest: Next Stop 0.97?Weekly Timeframe: Clear downtrend with a rejection at the 50 MA and a break below key support. Next target lies around 0.97-0.98, a major demand zone. Daily Timeframe: Confirms the bearish bias with a retest of the broken support, now acting as resistance. Price remains below the 50 MA, signaling continued downside. Correlation: Both timeframes align in a bearish trend. Weekly sets the direction, while daily refines entry opportunities with break-and-retest setups.
Short
by unichartz
20
Downward Pressure Persists as Yen Strengthens on Rate Hike HopeHey Realistic Traders, Will OANDA:CADJPY continue its bearish trend? Let’s Dive In.... In the H4 timeframe, CADJPY has broken out of a distribution phase as it continues to move below the bearish trendline and the EMA-200 line. The pair also formed a Rising Wedge pattern, followed by an impulsive breakout, which strongly indicates the continuation of the prevailing bearish trend. Further confirming this outlook, the MACD momentum indicator has signaled a bearish crossover, strengthening our bearish hypothesis. Given these technical factors, we anticipate a potential downward movement toward the nearest historical support area (Target 1) at 105.955. After reaching this level, we foresee a minor correction back to the green zone before the pair resumes its bearish journey to the second target at 104.902. However, this bearish outlook remains valid only if the price holds resistance below the critical stop-loss level at 108.976. Fundamental Reason Supporting Yen Strength: The Bank of Japan (BOJ) is signaling further rate hikes as economic data, including wage growth and inflation, align with its projections. BOJ Governor Kazuo Ueda recently suggested that another rate hike is "nearing," citing steady progress in economic conditions. This hawkish stance further supports the bearish outlook on CADJPY, as a stronger yen typically exerts downward pressure on the pair. Support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below. Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on CADJPY".
Short
by financialfreedomgoals101
GBPUSD Setup: Bullish Wave Structure & Fibonacci Buy ZoneThe GBPUSD has stabilised after a significant downward move. A completed bullish wave structure has emerged, with Wave 4 failing to break above Wave 3. This indicates a potential buying opportunity from the Fibonacci buy zone. On the 15-minute chart, we can consider going long using the MSL pattern (Lower Low, Low of Day, Higher Low & Higher Close) as a confirmation signal. Entry Point: 1.26303 Stop Loss: 1.2610 Target: 1.2710 Stay disciplined and manage your risk accordingly.
Long
by Charts247TradingAcademy
London Session Focus: USDJPY Momentum & Potential AUDUSD BuyThis morning during the London session, my primary focus is on the USDJPY. We anticipate a momentum low developing below the current price level. Additionally, the AUDUSD has flagged a potential buying opportunity around the 0.6450 level. The EURUSD and GBPUSD (Cable) are also showing potential for bullish moves; however, their price structures are currently less defined than those of the above-mentioned pairs. Trade wisely and happy trading!
by Charts247TradingAcademy
Forex Trade Planning: USD Dominance and Potential CorrectionToday's trade planning session highlighted the USD as the strongest currency on the daily Currency Strength Index (CSI), while the EUR emerged as the weakest. General CSI Overview: Buy pairs: USD, CHF, GBP, JPY, AUD Sell pairs: CAD, NZD, EUR In our H1 timeframe market analysis, we anticipate a deeper correction in existing trends. The wave structure for major pairs versus the USD has reached momentum high and momentum low 5. From this level, a correction of the trend is expected. It is important to note that significant effort and time are required for a trend reversal. Nevertheless, there has been a notable decline, breaking key structures in USDJPY, which could indicate a more substantial downturn for the USD and potentially lead to a larger secondary trend. Trade carefully and happy trading!
by Charts247TradingAcademy
Gold: Will the Falling Wedge Breakout Ignite a +16% Rally?Hey Realistic Traders, let’s dive into the analysis of NASDAQ:GOOGL In the daily timeframe, Google has broken above the upper trendline of the falling wedge pattern. The price has consistently remained above this trendline for the past three trading days, with rising price movement accompanied by bullish divergence. Bullish divergence on the MACD indicates that while the price makes lower lows, the MACD line forms higher lows. This divergence suggests a weakening of bearish momentum and the potential for a price reversal to the upside. Given these technical factors, we forecast a potential upside movement toward the designated target of 181.36 . After reaching this level, a pullback to the green zone around $160 may occur before the price advances to the second target at 191.52. This technical outlook remains valid as long as the price stays above the support area at 148.77. Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Google. Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below.
NASDAQ:GOOGLLong
by financialfreedomgoals101
USDJPY Daily Forecast: Slight Bearish Bias Amid Fundamental FactUSDJPY Daily Forecast: Slight Bearish Bias Amid Fundamental Factors (31/10/2024) Introduction In today's trading session on October 31, 2024, USDJPY appears to carry a slightly bearish bias due to various fundamental drivers impacting both the US Dollar (USD) and the Japanese Yen (JPY). This article provides a detailed analysis of USDJPY, focusing on the major economic and geopolitical factors contributing to the bearish outlook. By considering both macroeconomic trends and the latest technical indicators, traders can better navigate potential setups for the USDJPY pair. Key Fundamental Drivers Impacting USDJPY Today 1. Federal Reserve’s Dovish Policy Outlook - The Federal Reserve has recently hinted at maintaining a dovish stance, signaling a potential pause on interest rate hikes. This policy outlook is generally bearish for the USD, as lower interest rates reduce the Dollar’s appeal to investors seeking yield. As a result, the USD could experience downward pressure against the Japanese Yen, contributing to a slight bearish bias for USDJPY. 2. Bank of Japan's Commitment to Policy Adjustments - The Bank of Japan (BOJ) has gradually shown signs of flexibility in its yield curve control policy, which could strengthen the Yen. Any indication of a potential shift away from ultra-loose monetary policy is generally supportive for JPY, as it attracts investors looking for stability in an uncertain global environment. This shift increases the possibility of a bearish trend in USDJPY. 3. US Treasury Yields and Safe-Haven Demand - The recent volatility in US Treasury yields has led to fluctuating demand for USD-denominated assets. Lower yields often make the Dollar less attractive, especially in comparison to the Yen, which is considered a traditional safe haven. With a potential decline in yields, demand for USD could weaken, encouraging investors to turn toward JPY and reinforcing the slight bearish outlook for USDJPY. 4. Global Economic Uncertainty and Risk Sentiment - The recent geopolitical tensions and economic uncertainties have led to higher risk aversion in the markets. In times of heightened uncertainty, the Yen benefits as a safe-haven currency. This risk-off sentiment may draw investors to JPY, increasing its strength against USD and creating bearish pressure on the USDJPY pair. 5. Japanese Economic Data - Stronger-than-expected Japanese economic data, including stable GDP growth and improved manufacturing output, have added positive momentum to the Yen. These indicators reflect Japan’s gradual recovery, making the Yen more attractive and adding pressure on USDJPY from the Japanese side. Technical Analysis of USDJPY (31/10/2024) From a technical perspective, USDJPY trades below its 50-day moving average, a signal commonly associated with bearish trends. The Relative Strength Index (RSI) also hovers near the 40 level, suggesting potential downside momentum. Key support levels around 147.50 and resistance near 150.00 should be monitored. Key Support: 147.50 Key Resistance: 150.00 Conclusion: USDJPY Outlook for 31/10/2024 Given today’s fundamentals and technical conditions, USDJPY exhibits a slightly bearish bias. Factors such as the Federal Reserve’s dovish stance, the BOJ’s gradual policy adjustments, and risk aversion in global markets are all contributing to the current outlook. However, traders should remain attentive to any unexpected shifts in global economic data or central bank announcements. For those watching the USDJPY today, focusing on these fundamental drivers and key support levels can provide valuable insights for trading the pair amid a slightly bearish sentiment. SEO-Keywords: #USDJPYForecast #ForexAnalysis #USDToday #JapaneseYen #CurrencyMarket #USDJPYOutlook #BearishUSDJPY #TradingUSDJPY #ForexFundamentals
Short
by PERFECT_MFG