EURCHF Short IdeaEURCHF rejected major Down trendline and did a breakout at the minor uptrendline.
A Hanging man was formed at resistance on the 4h timeframe, which supports our idea that the price will continue its decline in the short term.
Forexmarket
GBPUSD The BoE release a fresh macro forecastOn the Federal Reserve side, investors will be left wondering how they view the Fed's stance, especially the recent strong economic report, as it could give officials a reason to continue raising interest rates. We are also awaiting further guidance on the Fed's stance, including how that will affect its policy stance. However, inflation and job creation have slowed since the September meeting, suggesting the Fed will end its tightening cycle without raising rates for the remainder of 2023. Markets have already priced in a pause in Wednesday's announcement, and while a December rate hike remains unlikely, the central bank's stance is likely to impact expectations for its final meeting in 2023.
GBPJPY Despite further YCC correction, the BOJ disappoints The BOE is losing credibility because it is stimulating the economy too little, too late. At this week's MPC meeting, Governor Bailey will have to hide behind his message that inflation will persist for longer as it becomes more entrenched, but policymakers are keeping interest rates on hold amid concerns about the economy. UK government bonds are poised to match the general global direction and rising yields, with 10-year bonds continuing to rise towards 5%
IDUSDT.P Trade Plan Timeframe: 4H IDUSDT.P Trade Plan Timeframe: 4H
#Forex #IDUSDT.P #TechnicalAnalysis #CryptoSignal #TradingOpportunity #Divergence #TradingSignal #TradingwithBelieve
Hey traders! 👋 Let's dive into a potential trading opportunity on the IDUSDT.P pair using technical analysis. 📊
📉 Previously Bullish Trend:
Firstly, on the 4H- timeframe, we've been witnessing a Bullish trend in the IDUSDT.P pair. 🐻
🔄 Divergence on HH’s:
However, it's crucial to note that recently, we have started to observe a divergence pattern on the HH’s. This is an important signal that the Bullish momentum might be weakening. 📉🔄:
📊 Trade Opportunity:
Currently, we are looking at a potential trade opportunity with a Bearish bias.
📈 Entry Price: 0.2354
🎯 Stop Loss Level: 0.2400
🚀TP1: 0.2300
🚀TP2: 0.2245
💰 Investment Advice:
Please remember that trading carries risks, and it's essential to have a well-defined trading plan, proper risk management, and stop-loss orders in place. This analysis is for educational and informational purposes only and should not be considered as financial advice. Make sure to do your research and consider your risk tolerance before entering any trade.
Happy trading, and may the pips be in your favour! 🚀📈💰 #HappyTrading #ProfitOpportunity #TradeSmart #CryptoSignal #StockSignal #TradingwithBelieve
EURCAD Trade Plan Timeframe: 4H ?EURCAD Trade Plan Timeframe: 4H
#Forex #EURCAD #TechnicalAnalysis #CryptoSignal #TradingOpportunity #Divergence #TradingSignal #TradingwithBelieve
Hey traders! 👋 Let's dive into a potential trading opportunity on the EURCAD pair using technical analysis. 📊
📉 Previously Bullish Trend:
Firstly, on the 4H- timeframe, we've been witnessing a Bullish trend in the EURCAD pair. 🐻
🔄 EURCAD is in strong bullish trend:
EURCAD is in strong bullish trend.
As the market is consistently printing new HHs and HLs.
currently the market is retracing a bit after last HH, which is also the 50% fib retracement level and local support as well. if the market successfully sustain this bullish confluence the next leg high could go for new HH. 📉🔄:
📊 Trade Opportunity:
Currently, we are looking at a potential trade opportunity with a Bearish bias.
📈 Entry Price: 1.46170
🎯 Stop Loss Level: 1.45286
🚀TP1: 1.47058
🚀TP2: 1.47943
💰 Investment Advice:
Please remember that trading carries risks, and it's essential to have a well-defined trading plan, proper risk management, and stop-loss orders in place. This analysis is for educational and informational purposes only and should not be considered as financial advice. Make sure to do your research and consider your risk tolerance before entering any trade.
Happy trading, and may the pips be in your favour! 🚀📈💰 #HappyTrading #ProfitOpportunity #TradeSmart #CryptoSignal #StockSignal #TradingwithBelieve
GBPUSD The downtrend is clearly formed through charts and news
The British pound initially attempted to recover during the week, but gave up gains near the crucial 1.2350 level. At this point, GBP is likely to remain under downward pressure and could fall to the 1.1850 level. Looking ahead, we believe the 1.2350 level will be an important resistance barrier, and if we manage to break below the 1.20 level, it will actually pave the way for the 1.1850 level. Of all the major currencies, the US dollar makes the most sense at the moment.
EURUSD USD gains momentum as government bond yields rise againEUR/USD was little changed as traders awaited further stimulus following the release of disappointing Eurozone PMI data. Germany's Ifo business report showed business confidence improved from 85.8 in September to 86.9 in October, but this did not provide additional support for European currencies.
From a technical perspective, EUR/USD is unable to settle above the resistance at 1.0670-1.0700 and is heading towards the next support at 1.0520-1.0550.
GBPCAD Bank of Canada leaves rates on hold, sees weak growthMany indicators suggest that supply and demand in the economy are now nearing equilibrium. ”
Inflation is expected to return to the 2% target by the end of 2025, slightly behind July's mid-2025 forecast, "but energy prices and ongoing core inflation will The trajectory will rise even higher,” the central bank said.
Inflation is expected to fall to around 2.5% in the second half of 2024, and gross domestic product is expected to grow at an annual rate of 0.8% in both the third and fourth quarters of 2023. In July, the BoC expected annual growth to be 1.5% in the third quarter. .
The central bank lowered its growth forecast for 2023 to 1.2% from 1.8% in July, and the growth rate for 2024 to 0.9%, down from its previous forecast of 1.2%.
EURUSD Trade Signal Timeframe: 1HEURUSD Trade Signal Timeframe: 1H
#Forex #EURUSD #TechnicalAnalysis #CryptoSignal #TradingOpportunity #Divergence #TradingSignal #TradingwithBelieve
Hey traders! 👋 Let's dive into a potential trading opportunity on the EURUSD pair using technical analysis. 📊
📉 Previously Bearish Trend:
Firstly, on the 1H- timeframe, we've been witnessing a Bullish trend in the EURUSD pair. 🐻
🔄 Divergence on HH(Higher High’s):
However, it's crucial to note that recently, we have started to observe a no divergence pattern on the HH(Higher High’s). This is an important signal that the Bullish momentum might be weakening. 📉🔄
📊 Trade Opportunity:
Currently, we are looking at a potential trade opportunity with a Bearish bias.
📈 Entry Price: 1.06569
🎯 Stop Loss Level: 1.06959
🚀TP1: 1.06183
🚀TP2: 1.05805
💰 Investment Advice:
Please remember that trading carries risks, and it's essential to have a well-defined trading plan, proper risk management, and stop-loss orders in place. This analysis is for educational and informational purposes only and should not be considered as financial advice. Make sure to do your research and consider your risk tolerance before entering any trade.
Happy trading, and may the pips be in your favour! 🚀📈💰 #HappyTrading #ProfitOpportunity #TradeSmart #CryptoSignal #StockSignal #TradingwithBelieve
GBPJPYBank of Japan to conduct unscheduled bond-buying operationFollowing the BOJ`s announcement, the 10-yr JGB yield JP10YTN=JBTC declined 0.five foundation factor to 0.855%, in advance buying and selling unchanged from Monday's last stage of 0.86%, which become the very best on account that July 2013.
Japanese yields were pulled better with the aid of using a surge in U.S. Treasury yields, with the benchmark 10-yr word US10YT=RR topping five% in a single day to attain a 16-yr high. US/
The BOJ caps the 10-yr yield at 1% beneathneath its yield curve controls (YCC), following a wonder coverage tweak on the cease of July. Although the yield stays properly beneathneath that stage, policymakers have stepped in again and again to gradual the tempo of increases.
The valuable financial institution subsequent units coverage on Oct. 31.
Trade Plan for CAD/CHF - Seizing Bullish DivergenceTrade Plan for CAD/CHF - Seizing Bullish Divergence:
Trade Objective: To capitalize on the bullish divergence in CAD/CHF with a lower high (LH) breakout for an upward push to new highs.
Follow Us for More: Join us for real-time trade updates, insights, and strategies.
. Analysis: CAD/CHF, D1/H4 charts, bullish divergence in a consolidating market.
. Entry: Enter on the candlestick close following LH breakout.
. Risk Management: Set stop loss below the recent low, risk no more than 1-2% of your capital.
. Execution: Set take profit using technical analysis tools or resistance levels.
. Monitoring: Continuously track and consider adjusting the stop loss.
. Exit: Exit at the take profit level or if a trend reversal occurs.
. Follow Us: For more trading insights and updates, follow us!
Trade wisely, manage risk, and stay informed for successful trading.
GBPUSD Trade Signal Timeframe: 1H ?GBPUSD Trade Signal Timeframe: 1H
#Forex #GBPUSD #TechnicalAnalysis #CryptoSignal #TradingOpportunity #Divergence #TradingSignal #TradingwithBelieve
Hey traders! 👋 Let's dive into a potential trading opportunity on the GBPUSD pair using technical analysis. 📊
📉 Previously Bearish Trend:
Firstly, on the 1H- timeframe, we've been witnessing a Bearish trend in the GBPUSD pair. 🐻
📊 Trade Opportunity:
Currently, we are looking at a potential trade opportunity with a Bearish bias.
📈 Entry Price: 1.21721
🎯 Stop Loss Level: 1.21930
🚀TP1: 1.21516
🚀TP2: 1.21306
💰 Investment Advice:
Please remember that trading carries risks, and it's essential to have a well-defined trading plan, proper risk management, and stop-loss orders in place. This analysis is for educational and informational purposes only and should not be considered as financial advice. Make sure to do your research and consider your risk tolerance before entering any trade.
Happy trading, and may the pips be in your favour! 🚀📈💰 #HappyTrading #ProfitOpportunity #TradeSmart #CryptoSignal #StockSignal #TradingwithBelieve
EURJPY When Japan Ends Negative Exchange Rate Policy, Treasury WA majority of the 315 respondents said that the Bank of Japan will end its unprecedented policy of keeping interest rates below zero in the first half of 2024. The move marks the end of a bold experiment Japan began in 2016. The experiment has recently put Japan at odds with other major central banks, which have aggressively tightened monetary policy to fight inflation.
What the Bank of Japan does and when it does it will affect global markets. The biggest outcome, according to MLIV Pulse respondents, is further disruption of large amounts of government debt. Higher yields in Japan would encourage Japanese investors, who own large holdings of U.S., European and Australian government bonds, to repatriate their funds.
GBPJPY All data suggests a flag pattern is formingThe USD/JPY currency pair hit its highest weekly closing price in more than 20 years. However, he was unable to close his trade above the big round . This number is clearly a major stumbling block and is being defended, as seen by the decline in volatility as price approaches this number. This may be an important point. A breakout to the upside is more likely than a reversal to the downside, and it can be explosive because it takes time to occur.
XAUUSD Timeframe: 1H Trade SignalXAUUSD Timeframe: 1H Trade Signal
#Forex #XAUUSD #TechnicalAnalysis #TradingOpportunity #Divergence #TradingSignal #TradingwithBelieve #NASDAQ #USTECH
Hey traders! 👋 Let's dive into a potential trading opportunity on the XAUUSD pair using technical analysis. 📊
📉 Previously Bearish Trend:
Firstly, on the 1H- timeframe, we've been witnessing a Bullish trend in the XAUUSD pair. 🐻
📊 Trade Opportunity:
Currently, we are looking at a potential trade opportunity with a Bullish bias.
📈 Buy Level \ Entry Price: 1983
🎯 Stop Loss Level: 1971
🚀TP: 1995.7
🚀TP2: 2007.83
💰 Investment Advice:
Please remember that trading carries risks, and it's essential to have a well-defined trading plan, proper risk management, and stop-loss orders in place. This analysis is for educational and informational purposes only and should not be considered as financial advice. Make sure to do your research and consider your risk tolerance before entering any trade.
Happy trading, and may the pips be in your favour! 🚀📈💰 #HappyTrading #ProfitOpportunity #TradeSmart #TradingwithBelieve
GBPUSD developments after the FED meetingOver time, inflation returned to 2%. New and old uncertainties complicate our challenge of balancing the risks of monetary policy being too tight with the risks of being too tight. If too little is done, above-target inflation could become entrenched and ultimately force monetary policy to contain more persistent inflation in high-employment-cost economies. Going too far can also cause unnecessary damage to the economy.
Given the uncertainties and risks and our progress, the Committee is proceeding with caution. We will decide on the extent of further policy tightening and for how long policy restrictions should remain in place, based on the overall data available, the outlook, and the balance of risks.
EURJPY The increasing trend is quite strong. Resistance can be rThe next phase of the Digital Euro project, the preparatory phase, will begin on November 1, 2023 and initially last for two years. This includes defining the rules for a digital euro and selecting providers that can develop the infrastructure and platform for a digital euro. This also includes testing and experimentation to develop a digital euro that meets both Eurosystem requirements and user needs, for example in terms of user experience, data protection, inclusive finance, and environmental footprint. . The ECB will continue to work with the public and all stakeholders during this period. After two years, the Council will decide whether to proceed with the next preparatory steps that will pave the way for the issuance and launch of a future digital euro.
EURUSD Many disadvantages for the USDIt’s been an abnormal week for the US Dollar so far. While the bullish trend took over for much of the past three months, the current weekly bar is showing as an inside bar with the entirety of this week’s range contained inside of the prior week. This isn’t necessarily abnormal, but it does speak to the overbought nature of the move as we came into the month of October and for the past two weeks, bulls have been unable to push up to a fresh high to continue that move, even with some strong data in the form of a Non-farm Payrolls report and a very strong outing for retail sales earlier this week. But there is great potential next week
GBPJPY Inflation in Japan is getting worse and won't stopToday, October 20, the Japanese government will begin a meeting expected to last almost two months to decide on a number of new policies, including those related to economic stimulus.
In particular, opposition parties are proposing economic stimulus measures such as providing 30,000 yen in cash to low- and middle-income households.
The meeting is considered extremely important for Kishida's administration, as his approval rating is at its lowest level since he took office. The policies he advocates are likely to determine his re-election.
Gold prices hit a 4-week high as tensions in the Middle East escGold prices rose even as data showed US retail sales exceeded forecasts and industrial products rose sharply last month. The Fed's fixed metric will keep interest rates higher for longer. Higher borrowing costs are often seen as a negative for gold.
According to ANZ Banking Group Ltd, any escalation will reinforce the need for protection. “This comes amid strong demand from the physical market, both from central banks as well as consumers in both India and China,” they said.
Current gold trading increased 0.8% to 1,937.75 USD/oz.
GBPCAD Abuse of the CANADA currency but will quickly recoverThe CAD's fall reflects a bearish market bias based on the likelihood that the central bank will continue to raise interest rates: British Pound to Canadian Dollar exchange rate under pressure as Canada unleashes inflation thanks to some lower-than-expected UK payroll figures, but it recovered to trade steady on the day at 1.6617.
Dips continue to be buying opportunities, and I don’t think tha As long as the Bank of Japan tries to keep its interest rates as low as they are, the Japanese yen will be one of the least favorite currencies by traders to own.
With the massive interest rate differential, you get paid to hang on to this pair, and I think that will end up being one of the major drivers of where we go next. In other words, it just makes more sense to own the British pound and it does the Japanese yen. Dips continue to be buying opportunities, and I don’t think that changes anytime soon.
EUR/USD Soars as Euro Defies the Dollar's Decline - Crucial DataEUR/USD
EUR/USD briefly rose above 1.0630, making modest gains after hitting monthly lows. The Euro is in a critical area, waiting for more US inflation data. It benefits from the US Dollar's weakness due to declining yields and positive market sentiment. The recent US Producer Price Index increase didn't greatly affect the Dollar, and the latest FOMC minutes emphasized a data-dependent policy approach. Thursday's economic calendar includes ECB minutes and the US Consumer Price Index, with potential market impact hinging on CPI performance.
Based on technical analysis, the EUR/USD rose on Wednesday, pushing towards the upper band of the Bollinger Bands. Currently, the EUR/USD is trading below the upper band, while the bands are trending upwards, suggesting the potential for another upward move to retest the upper Bollinger Band. The Relative Strength Index (RSI) stands at 62, indicating that the EUR/USD is currently attempting to establish a bullish bias.
Resistance: 1.0674, 1.0736
Support: 1.0583, 1.0530
