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EUR/USD Surges to New Highs Amid US Dollar WeaknessThe EUR/USD pair extended its rally early Monday, reaching its highest level since March at approximately 1.0970. Disappointing labor market data from the US caused a significant selloff of the US Dollar (USD) during the American session on Friday. Nonfarm Payrolls in the US increased by 114,000 in July, falling well short of the market expectation of 175,000, and the Unemployment Rate rose to 4.3% from 4.1% in June. In response to the July jobs report, the CME FedWatch Tool indicates that markets are nearly fully pricing in a 50 basis point Federal Reserve (Fed) rate cut in September. The technical outlook for EUR/USD shows overbought conditions, suggesting that the pair may continue to rise toward the next supply area around 1.1033, where a price reversal is possible. It will be crucial to monitor the COT report in that area. We are planning to place a pending order in anticipation of this movement. ✅ Please share your thoughts about EUR/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
by FOREXN1
5
EUR/GBP Finds Support at 0.8400: Potential for a Bullish SetupAs anticipated, the EUR/GBP currency pair has found support around the 0.8400 level, aligning with our previous forecasts. This area has proven to be a strong demand zone, where buyers seem poised to initiate a retracement, potentially driving the price higher. Currently, the EUR/GBP pair remains within a consolidation phase. However, market sentiment indicates that buyers are preparing to step in, suggesting a possible upward movement. The current market conditions also coincide with a seasonal trend, historically known to favor an increase in EUR/GBP value over the coming weeks. Our comprehensive analysis of supply and demand dynamics supports the outlook for a bullish retracement. We are particularly focused on identifying long position opportunities, as the demand area around 0.8400 demonstrates significant support for the pair. Traders should watch for confirming signals of a breakout from the consolidation phase, which could mark the beginning of a sustained upward trend. In conclusion, the EUR/GBP is showing promising signs of a rebound from its current support level. With the convergence of technical analysis and seasonal factors, we are optimistic about the potential for a bullish retracement. Monitoring the pair closely for entry points in long positions could yield favorable trading opportunities in the near future. ✅ Please share your thoughts about EUR/GBP in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
3
USD/JPY Analysis: Anticipating a New Bullish ImpulseUSD/JPY, after retesting the demand area around $149.000, shows potential for initiating a new bullish impulse. This technical retest suggests the possibility of a fresh upward leg in the pair's price movement. By examining the Commitment of Traders (COT) report, we notice significant bullish sentiment among large traders, indicating support for a long position in USD/JPY. This aligns with our supply and demand analysis, which identifies the $149.000 level as a crucial demand zone where buying interest has emerged, providing a solid base for the price to move higher. Seasonality trends also favor this bullish outlook. Historically, this period tends to see strength in USD/JPY, adding confidence to our expectation of a new long setup. The combination of the retest of the demand zone, positive COT positioning, and favorable seasonality trends reinforces our anticipation of a bullish continuation. We are closely monitoring the price action and are prepared to enter a long position, expecting further gains from the current levels. This comprehensive approach, considering technical, sentiment, and seasonal factors, supports our strategy for a bullish setup in USD/JPY. Japanese Yes Futures: ✅ Please share your thoughts about USD/JPY in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
6
AUD/USD Trend Analysis: Exploring Potential Reversal ScenariosAUD/USD extends its gains on Thursday despite the release of soft Consumer Inflation Expectations for July by the Melbourne Institute, reflecting subdued consumer expectations on inflation over the next 12 months. The upward movement in the AUD/USD pair is underpinned by increasing speculation that the Reserve Bank of Australia (RBA) might delay joining the global trend of interest rate cuts or even consider raising rates anew. From a technical standpoint, our analysis identifies a significant supply area affecting major currency pairs against the USD. This area is characterized by a convergence of supply-demand dynamics, seasonal influences, and the key 78.6% Fibonacci retracement level. These factors collectively reinforce our confidence in the potential for a reversal in the price trajectory. ✅ Please share your thoughts about AUDUSD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Short
by FOREXN1
6
GBP/USD Continues Downtrend, Aligns with Supply ForecastGBP/USD has extended its decline after reaching our predicted supply area, as outlined in our previous analysis. (Link below.) Prolonged Downtrend Expected The current trend suggests that the price may continue to fall over the next few months, potentially reaching the demand area around 1.24 before experiencing a new bullish impulse. This aligns with our forecast, anticipating a bearish phase until October. Anticipation of Monetary Policy Announcements Traders are awaiting key monetary policy announcements from the Federal Reserve on Wednesday and the Bank of England on Thursday. These events are expected to inject fresh volatility into the market, possibly pushing GBP/USD even lower. Market Sentiment and Indices Meanwhile, the UK's FTSE 100 Index has dipped by 0.3%, while US stock index futures are trading marginally higher, reflecting a cautious market stance. Strategy and Outlook Given these conditions, we maintain our bearish outlook and continue to hold our short position, anticipating further downward movement in GBP/USD. Previous Forecast: ✅ Please share your thoughts about GBP/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Short
by FOREXN1
1
EUR/USD Faces Pressure with New Week's StartEUR/USD continues to face downward pressure as the new week begins, struggling to gain recovery momentum ahead of Tuesday's significant macroeconomic data releases. The US Dollar is currently exhibiting strong momentum, and historically, during this time of the year, our analysis indicates that the USD tends to strengthen until October or November before experiencing a retracement. Following the negative correlation in EUR/USD, we opened a bearish setup last week, and our forecast remains bearish. Early Tuesday, data from Germany revealed that the Gross Domestic Product (GDP) contracted at an annual rate of 0.1% in the second quarter. Despite this reading, there was no noticeable market reaction. Later today, the US economic docket will feature the Conference Board's Consumer Confidence data for July and the JOLTS Job Openings for June. A significant increase in job openings could bolster the USD and weigh on EUR/USD. Our forecast for the EUR/USD remains bearish. Additionally, the Commitment of Traders (COT) report shows an increase in retailer longs, which further supports our bearish outlook. Based on our analysis and current market conditions, we maintain a bearish forecast for EUR/USD. Stay tuned for further updates as we continue to monitor market developments. Previous Forecast: ✅ Please share your thoughts about EUR/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Short
by FOREXN1
1
GBP/JPY: Monitoring Supply Area at 201.900Following the successful attainment of our previous target on GBP/JPY, we are now focusing on identifying the next trading opportunity with this cross pair. Our analysis has pinpointed a significant supply area around the 201.900 level. Currently, the price is undergoing a pullback after a period of strong bearish momentum. This pullback suggests that the supply zone at 201.900 could serve as a pivotal point where the price might resume its downward trajectory. We believe that this area presents a viable opportunity for another bearish leg, aligning with our ongoing bearish outlook for the pair. In anticipation of this potential movement, we are preparing to add a new short position if the price reaches the supply area. To effectively execute this strategy, we are setting a sell limit order at 201.900. This approach will allow us to enter the market at a favorable level and capitalize on the expected continuation of the bearish trend in GBP/JPY. Overall, our strategy is to leverage the identified supply zone to potentially enhance our trading position, aligning with our forecast for further downward movement. Previous Forecast : ✅ Please share your thoughts about GBP/JPY in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Short
by FOREXN1
1
USD/CHF Continues to Decline After Reversing at 0.9225The USD/CHF currency pair has been on a steady decline following a significant reversal at the 0.9225 level, where the price started to exhibit bearish behavior. This shift in trend has captured the attention of traders and analysts alike, prompting a deeper examination of the market conditions and potential future movements. In analyzing the Commitments of Traders (COT) report, it becomes evident that positioning has shifted, suggesting a bearish sentiment among large speculators. This insight, combined with seasonal trends, indicates that the USD/CHF pair may be poised for further declines in the short term. Historical data shows that certain periods of the year tend to favor either bullish or bearish movements in currency pairs, and the current seasonality seems to support a continuation of the bearish trend. Moreover, our supply and demand analysis reveals critical levels where price reactions are likely. The demand area around 0.8680 stands out as a significant support zone. This level has historically acted as a stronghold, where buying interest could potentially reverse the ongoing downtrend. Should the price breach this level, the next demand area to watch is lower, where further price stabilization could occur. As we monitor these levels, it is crucial to look for confirming patterns before committing to a trade. Patterns such as double bottoms, bullish engulfing candles, or other reversal signals within these demand zones will be key indicators of a potential trend change. By waiting for these confirmations, we aim to minimize risk and increase the probability of a successful trade. ✅ Please share your thoughts about USD/CHF in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
by FOREXN1
1
USD/JPY: JPY Maintains Upward MomentumThe Japanese Yen (JPY) continues its upward momentum against the US Dollar (USD) for the fourth consecutive session, reaching the 152.000 mark yesterday. This strength in the Yen is attributed to traders unwinding carry trades in anticipation of the Bank of Japan’s (BoJ) policy meeting next week. The upcoming BoJ meeting is highly anticipated, with expectations of an interest rate hike. This speculation has led short-sellers to close their positions, bolstering the JPY. Additionally, the BoJ is expected to announce plans to taper its bond purchases, aiming to scale back its extensive monetary stimulus program. Meanwhile, the US Dollar could find support as recent US PMI data showed a faster expansion in private-sector activity for July. This data highlights the robustness of US economic growth despite high interest rates, giving the Federal Reserve (Fed) more flexibility to maintain its restrictive policy stance if inflation does not ease. Technical analysis suggests that the JPY/USD pair may continue its bearish trend, with potential support levels around 148.160 and further down at the demand zone of 142.210. These areas could provide solid entry points for traders anticipating a USD rebound. Currently, we are not planning any trades but are monitoring the price movements towards these key levels for potential buying opportunities. ✅ Please share your thoughts about USD/JPY in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
by FOREXN1
1
Potential Bearish Trend for NZD/USDThe NZD/USD currency pair may be entering a new bearish trend. After retesting the 0.6220 area, the price experienced a technical rebound at the resistance level, subsequently revisiting the previous supply area. This sequence of movements indicates a potential downward trajectory. In our analysis, we have observed that the market dynamics are aligning with a bearish outlook. The resistance at 0.6220 has proven to be a significant hurdle for the bulls, and the price action suggests that the bears are gaining control. We are now closely monitoring this pair for a bearish setup. Our objective is to anticipate and capitalize on the next downward movement. Key indicators and market sentiment support this bearish outlook, suggesting that the NZD/USD may continue to decline as it tests lower levels of support. Investors and traders should consider the broader market conditions and sentiment around the NZD/USD pair. Economic indicators, global market trends, and geopolitical developments will also play crucial roles in shaping the future direction of this pair. ✅ Please share your thoughts about NZDUSD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Short
by FOREXN1
1
USD/CHF Analysis: Bearish Trend and Potential Reversal ZonesThe USD/CHF continues to decline and may encounter its first support in the demand area around the 0.8800 level. This ongoing downward movement has prompted us to close a previous short position on this pair, which you can find linked below. Recently, the Swiss National Bank (SNB) reduced its key interest rate by 25 basis points for the second consecutive meeting in June. This decision was influenced by subdued inflationary pressures and the resilience of the Swiss Franc, contributing to the current bearish trend in USD/CHF. The rate cut underscores the SNB’s efforts to stimulate the economy amidst low inflation, which in turn has strengthened the Franc. Looking ahead, the bearish pattern in USD/CHF may persist until the first week of August. However, we are closely monitoring potential reversal zones. The next key demand areas, as indicated in the chart, could provide opportunities for a reversal if the bearish trend loses momentum. Traders should remain vigilant and watch for any signs of a trend change, particularly around these demand areas. Identifying these zones is crucial for planning potential entry and exit points in anticipation of a market reversal. For further details and to review our previous short position, please refer to the link below. ✅ Please share your thoughts about USD/CHF in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Short
by FOREXN1
1
USD/CHF Dips as Strong Swiss GDP Data Boosts FrancThe USD/CHF pair experienced notable selling pressure around the 0.9100 mark on Thursday during early European trading hours. This downward movement was primarily driven by the Swiss Franc (CHF) gaining traction following the release of a stronger-than-expected Gross Domestic Product (GDP) report for Switzerland in the first quarter (Q1) of 2024. As a result, the USD/CHF pair is currently trading 0.35% lower for the day. Switzerland's economy continued to show resilience and growth in Q1, as reported by the State Secretariat for Economic Affairs (SECO) on Thursday. The country's GDP increased by 0.5% quarter-over-quarter (QoQ), which exceeded both the previous quarter's growth of 0.3% and market expectations. On a year-over-year (YoY) basis, the GDP figure rose to 0.6%, outperforming the market consensus of 0.5%. This strong economic performance provided substantial support to the Swiss Franc, consequently driving the USD/CHF pair down to its weekly lows. The positive GDP data highlights the underlying strength of the Swiss economy, suggesting robust economic activity despite global uncertainties. The stronger economic performance is likely to influence the Swiss National Bank's (SNB) monetary policy stance, potentially leading to a more hawkish outlook, which further supports the CHF. From a technical perspective, the USD/CHF pair shows signs of a potential bearish reversal. On higher timeframes, a divergence has been observed, indicating that the recent price action might not be sustainable. The pair has also reached a significant demand area, as identified in the red rectangle, which has historically acted as a support zone. This confluence of technical factors suggests that the USD/CHF pair may be poised for further downside movement. Additionally, the broader market sentiment and the performance of the US Dollar (USD) also play a crucial role. The USD has faced pressure from mixed economic data and shifting expectations regarding the Federal Reserve's monetary policy. If the US economic indicators continue to show signs of slowing growth or if the Federal Reserve adopts a more dovish stance, the USD could weaken further, adding to the bearish outlook for the USD/CHF pair. Given these fundamental and technical factors, we are looking for a bearish setup on the USD/CHF pair. Investors and traders should closely monitor upcoming economic data releases, particularly from Switzerland and the United States, as well as any statements from central bank officials, which could provide further insights into the potential direction of the pair. In summary, the combination of strong Swiss economic performance, technical indicators pointing to a potential reversal, and the broader market dynamics suggests that the USD/CHF pair may continue to face downward pressure. This creates an opportunity for traders to consider bearish strategies, taking advantage of the current market conditions.
Short
by FOREXN1
3
JP Morgan Surprises Investors with Strong EarningsOn Friday, JP Morgan surprised investors with a robust earnings release, posting an impressive +4.01% increase and a revenue surge of 20.78% above estimates. This positive news has ignited investor confidence and set the stage for a potential bullish trend. Historically, JP Morgan's stock has shown a seasonal pattern of growth during this period. Over the past 15 years, the company's stock price has typically increased during the summer months. This historical trend, combined with the recent strong earnings report, suggests a favorable outlook for JP Morgan's stock in the near term. The pre-market indicators are already showing gains, reflecting investor optimism. Given these positive signals, we are looking to open a long position at the start of the New York session today. ✅ Please share your thoughts about JPM in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
NYSE:JPMLong
by FOREXN1
1
GOLD Prices Surge as US CPI Data Sparks Fed Rate Cut SpeculationGold prices surged following the release of the US Consumer Price Index (CPI) data for June, which revealed a slowdown in inflation. This unexpected cooling of inflation has fueled market speculation that the Federal Reserve (Fed) may initiate interest rate cuts sooner than anticipated. The CPI data, released on Thursday, indicated that headline inflation in the US had dropped to 3.0% year-on-year in June. This figure is not only below the market’s expectations of 3.1% but also a significant decrease from the previous month’s 3.3%. The slowdown in inflation suggests that the aggressive rate hikes by the Fed over the past year are starting to take effect, reducing the urgency for further rate increases. In response to the CPI data, gold prices hit our sell limit in the supply area, prompting us to open a short setup. Our strategy targets the next demand area as the initial objective. While there is potential for gold prices to decline further to the lower demand zone around $2,220, our current target remains at $2,340. The bearish sentiment among commercial traders aligns with our setup, reinforcing our strategy. Commercials, who are typically large-scale market participants such as producers and merchants, continue to hold a pessimistic outlook on gold. Their positioning often provides valuable insight into market trends, and their current bearish stance supports our short setup. As we move forward, market participants will closely monitor the Fed’s policy decisions and economic indicators for further clues on the direction of interest rates. The possibility of earlier-than-expected rate cuts could continue to influence gold prices and market sentiment. In conclusion, the recent US CPI data has provided a significant boost to gold prices by increasing speculation about future Fed rate cuts. Our strategic short setup aims to capitalize on this movement, with a cautious eye on potential further declines. The alignment of commercial traders’ bearish outlook with our setup adds further confidence to our strategy as we navigate the evolving market landscape. ✅ Please share your thoughts about GOLD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
OANDA:XAUUSDShort
by FOREXN1
1
GOLD Market Update: Trends and Strategic InsightsGold has surged to approximately $2,383 on Thursday, reflecting ongoing market expectations of impending interest-rate reductions. Federal Reserve Chairman Jerome Powell, in his recent testimony to US lawmakers, has artfully balanced cautious optimism regarding inflation moderation and the pursuit of a soft-landing scenario that avoids significant job losses. Powell underscored the Fed's commitment to a vigilant, data-driven approach to inflation dynamics. Our analysis points towards an intriguing development as Gold nears a critical supply area around $2,400. Here, we've identified a potential reversal pattern amidst bearish positioning by the Commercials. Observing what could be a triple top formation, market conditions suggest a pivotal juncture where the price might pivot. As Gold continues its ascent amid evolving economic cues, staying attuned to these market signals becomes crucial for anticipating potential price movements and strategic positioning. ✅ Please share your thoughts about GOLD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
OANDA:XAUUSDShort
by FOREXN1
1
EUR/USD Continues to Rise: Potential Resistance Levels AheadAs forecasted in our previous analysis, the EUR/USD pair is continuing its upward trajectory. This growth is in line with our expectations, but we are approaching key levels where the pair may encounter resistance. One of the primary resistance areas we have identified is around the 1.0860 level. This supply area has been drawn based on historical price actions and is anticipated to act as a barrier to the current upward momentum. Just beyond this level, we see further resistance at the psychological level of 1.0900, which often serves as a significant hurdle due to market sentiment and trader behaviors. In these areas, we are looking for a possible reversal of the price. This outlook is reinforced by the latest Commitment of Traders (COT) report, which provides insights into the positioning of major market participants. The COT report indicates that traders may be preparing for a shift, aligning with our expectation of resistance and potential price reversal at these levels. Additionally, the chart reveals a 78.6% Fibonacci retracement level that coincides with our identified resistance zones. Fibonacci levels are widely used in technical analysis to predict potential reversal points, and the 78.6% retracement is particularly notable for its reliability in signaling resistance. Furthermore, the dynamic trendline of a bearish channel, which has been tracking the pair's movements, also intersects near these resistance levels. This trendline adds another layer of potential resistance, suggesting that the price may rebound upon reaching this confluence of technical indicators. Although this detail is secondary, it provides additional confirmation of our analysis. ✅ Please share your thoughts about EUR/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Short
by FOREXN1
1
Copper: Anticipating Potential Reversals Amid Bullish TrendFollowing a rebound at the $4.3320 Demand area, copper has started a bullish upside movement. In our analysis, we have identified two potential reversal points that align with recognized Supply areas and the seasonal trend analysis. These areas are critical for our strategy, as they indicate possible turning points in the current uptrend. Additionally, within these identified areas, there is a confluence of Fibonacci levels. While these Fibo levels are secondary in importance compared to the Supply and Demand analysis, they still provide valuable insights into potential resistance points. Given this comprehensive analysis, we are looking for short positions as copper approaches these key Supply areas. The confluence of seasonal trends, Supply area recognition, and secondary Fibonacci levels supports our anticipation of potential reversals, making this an opportune moment to prepare for short trades. ✅ Please share your thoughts about Copper in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
COMEX:HG1!Short
by FOREXN1
1
AUD/USD Faces Potential Reversal: Key Supply Zones in FocusDespite a backdrop of improved risk aversion on Monday, the Australian Dollar (AUD) appreciated, bolstered by domestic economic factors. Persistent high inflation, robust Retail Sales, and a strong Services PMI have provided support to the AUD, leading the Reserve Bank of Australia (RBA) to delay potential rate cuts. However, this upward momentum is tempered by renewed demand for the US Dollar (USD), which puts pressure on the AUD/USD pair. The USD's outlook is complicated by recent US employment data. While Nonfarm Payrolls (NFP) for June exceeded market expectations, the growth rate was slower compared to May's increase. Additionally, the Unemployment Rate edged higher in June. These indicators suggest that the Federal Reserve (Fed) might face pressure to consider reducing interest rates sooner than anticipated, which could weigh on the USD. In our analysis, the AUD/USD price is nearing a significant area marked by recent Supply zones, where we anticipate a potential price reversal. These zones are critical as they align with historical trends; over the past two years, the AUD has typically started a bearish trend around this time of year. This seasonal pattern, combined with the technical presence of Supply zones, informs our strategy to look for a short setup. In conclusion, the Australian Dollar's recent appreciation is supported by strong domestic economic indicators, but the potential for a bearish reversal looms. The combination of Supply zones and historical seasonality trends points to a possible downturn. We will be closely monitoring these factors to execute a well-timed short trade. ✅ Please share your thoughts about AUD/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Short
by FOREXN1
3
GBP/USD Advances Towards 1.2800 Amid Weak US Economic DataOn Thursday, the GBP/USD pair advanced towards the 1.2800 mark. Renewed selling pressure on the US Dollar (USD) propelled GBP/USD higher as markets reacted to disappointing macroeconomic data releases. The ADP's monthly report indicated that payrolls in the private sector increased by 150,000 in June, falling short of the market expectation of 160,000. Additionally, the Department of Labor reported 238,000 first-time applications for unemployment benefits for the week ending June 29, up from 233,000 in the previous week. Moreover, the ISM Services PMI fell to 48.8 in June from 53.8 in May, signaling a contraction in the service sector's business activity. The survey details revealed that the Employment Index and the Prices Paid Index declined to 46.1 and 56.3, respectively. From a technical perspective, we anticipate a potential reversal in the supply area where we have set a pending order. Our seasonality analysis also suggests that GBP/USD typically begins a bearish trend during this period of the year, lasting until October. Therefore, we are looking for a bearish setup. ✅ Please share your thoughts about GBP/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Short
by FOREXN1
1
GOLD Price Rides High on Fed Speculation as Market Awaits Datas🟡 The price of gold is riding high on the back of dovish Federal Reserve expectations, a trend that is gaining momentum during the US Independence Day holiday. This bullish rally is likely to see exaggerated movements due to low market liquidity and repositioning by traders ahead of the critical US Nonfarm Payrolls data set to be released on Friday. As gold continues its upward trajectory, we have identified a significant supply area where price movements could see a reversal. Over the past decade, this particular period of the year has consistently shown a bearish seasonality for gold prices. This historical trend suggests that despite the current bullish momentum, a downturn may be on the horizon. In preparation for this anticipated shift, we are setting a pending order in the supply area with the intention to short gold in the near future. This strategy aims to capitalize on the expected seasonal decline, leveraging the supply area's historical significance and the current market dynamics influenced by Federal Reserve policies and upcoming economic data. Our analysis indicates that while gold's bullish rally may continue in the short term, the confluence of historical seasonality and key economic data releases presents a compelling opportunity for a well-timed short position. By closely monitoring these factors, we aim to optimize our strategy and maximize potential returns as market conditions evolve. ✅ Please share your thoughts about XAU/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
OANDA:XAUUSDLong
by FOREXN1
1
EUR/USD Maintains Bullish Momentum, Surpasses 1.0800As anticipated in our previous forecast, EUR/USD has continued its bullish momentum, climbing above the 1.0800 level. Analyzing the chart, you can observe the areas where we have marked the closest supply zone, which we expect the price to reach before any potential decline. Disappointing macroeconomic data releases from the US triggered a selloff of the US Dollar (USD) during American trading hours on Wednesday, aiding the EUR/USD's upward movement. The ADP reported that private sector payrolls increased by 150,000 in June, missing analysts' estimate of 160,000. Additionally, the Department of Labor's weekly data showed 238,000 first-time applications for unemployment benefits, up from 233,000 the previous week. Furthermore, the ISM Services PMI fell to 48.8 in June from 53.8 in May, indicating a contraction in the service sector's business activity. The Employment Index and the Prices Paid Index of the PMI survey also dropped to 46.1 and 56.3, respectively. Looking ahead, tomorrow's release of USD Average Hourly Earnings m/m and Non-Farm Employment Change is expected to introduce further market volatility. Our forecast remains bullish until the price reaches the identified supply area. ✅ Please share your thoughts about EURUSD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
5
GBP/NZD: Demand Area Reaction and RSI Divergence Suggest UptrendThe GBP/NZD pair has shown a positive reaction to a significant demand area, with the price beginning to increase in value this morning. This upward movement is accompanied by an RSI divergence originating from oversold levels, which typically signals a potential reversal and further price appreciation. The presence of this RSI divergence strengthens the bullish outlook, as it indicates that the recent selling pressure may be exhausted. Given this context, we anticipate that the price could continue to rise and potentially retest the imbalance areas that have remained unaddressed since the beginning of the month. These imbalance areas represent key levels where the price action previously left gaps or inefficiencies, making them likely targets for a retracement. The combination of the strong demand area, RSI divergence, and untested imbalance zones creates a favorable environment for a bullish scenario in the GBP/NZD pair. Traders should monitor these technical indicators closely, as they provide valuable insights into potential price movements. By aligning trading strategies with these signals, there is an opportunity to capitalize on the expected upward trend.
Long
by FOREXN1
3
GBP/AUD Analysis: Anticipating a Bullish InitiativeFollowing our previous analysis, the GBP/AUD pair continues to reside within our identified area of attention, particularly around a key Demand area. This area has been filled, and the price has reacted with an initial reversal. Currently, the price hovers around 1.9015, a level of significant interest for several reasons. Firstly, the COT report reveals that a majority of institutional positions are on the long side. This indicates strong interest from major market players in the upside potential of the GBP/AUD pair, adding credibility to our bullish outlook. Secondly, our seasonality analysis further supports the case for a bullish initiative. Historically, during this part of the year, the GBP/AUD pair tends to experience growth. This seasonal tendency aligns well with our technical and fundamental observations, providing an additional layer of confidence in our analysis. From a technical perspective, the initial reversal from the Demand area suggests that buyers are stepping in at this level, supporting the price and preventing it from falling further. This Demand area, around 1.9015, serves as a crucial support zone where buying interest outweighs selling pressure. In light of these factors, we are actively looking for a bullish initiative. Our strategy involves monitoring the price action for further confirmation of the bullish trend. Key indicators to watch include higher lows and higher highs on shorter time frames, as well as supportive volume patterns that indicate sustained buying interest. We are also paying close attention to any news or events that could impact the GBP/AUD pair, including economic data releases and geopolitical developments. These factors could provide additional catalysts for the anticipated upward movement. In summary, with institutional support, favorable seasonal trends, and technical signals aligning, we are poised to capitalize on the bullish potential of the GBP/AUD pair. We will be looking for optimal entry points to enter long positions, aiming to benefit from the expected price appreciation in the coming weeks. ✅ Please share your thoughts about GBP/AUD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
1