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Forexpower

eurusd toward the downside read the caption the eurusd has just made a new 6-week low, but may have found some support, even if it is short term, at $1.0773. I think the outlook is bearish due to the bearish technical and the resilience in the US Dollar which continues as Fed Chair Powell continues to talk down the prospect of an early rate cut. I think the best opportunity today in this currency pair will likely be on the short side: either a breakdown once the price gets established below the lower trend line of the descending price channel or following a retracement to the resistance level at $1.0817 followed by a rejection of that level. The logical profit target is $1.0724.
Short
by Mrsam36
Usdjpy weekly chart more info read the caption USD/JPY is a big beneficiary, up 180 pips to 148.31 today. The pair had fallen every day this week until today but with the big gain, it's now higher than it was at Monday's open. It's a similar story across the board with the dollar up 70-180 pips. The Fed blackout ends today so the next thing the market will be looking for is commentary from Fed officials on what the strong jobs report means to them or if they're more focused on (potentially?) falling inflation.
Long
by Mrsam36
usdjpy buy trade setup (READ THE CAPTION)The USDJPY has raced higher on the back of the stronger US jobs report this morning, and in the process took out technical levels including a downslope trendline at 147.827 and swing highs for the week including the Monday high at 148.42 The price rise has moved to another swing area between 148.459 and 148.49 and is finding some cause for pause ahead of the 2024 high at 148.70 That level is not only a high in 2024 but was a swing level going back in time as well usdjpy surely buy
Long
by Mrsam36
2
Eurusd sell expect more 200 PIPS read the caption The eurusd pair has displayed a bearish trend since the beginning of the year, characterized by a structured decline on lower timeframes and navigating within a downward trend channel. Notably, the currency pair breached the 45-day exponential moving average (EMA) channel on the daily chart and is now nearing the 200-day EMA support level. A critical juncture for the Euro lies ahead as it approaches the $1.0760 to $1.0710 support zone, marked by the December low and the 200-day EMA channel.
by Mrsam36
Us oil big spike up read the caption Oil prices are finding a floor near $75, backed by the OPEC statement being released after the only meeting earlier this Thursday. A panel of OPEC+ members said no policy changes are foreseen for now, while the US has reportedly hit a six-month high in November on production. Add the stockpile buildup number from the Energy Information Administration (EIA) overnight with a surprise build of 1.233 million barrels, and quick breach above $70 looks doubtfull. 
TVC:USOILLong
by Mrsam36
1
Btcusd trade idea push up read the caption Btcusd analysis two days ago that the technical picture had become more bullish but I thought that bulls may have run out of momentum after the price failed to clear the resistance level at $43,309. I was still looking for a long trade following two consecutive higher hourly closes above $43,509 but only targeting the next resistance level at $44,408. This was a good call but only insofar as the level at $43,619 was pivotal, giving the chance for a profitable short trade entry upon the bearish rejection of this level.
BITSTAMP:BTCUSDLong
by Mrsam36
2
Us dollar buy setup read the caption Dxy buying area chart It’s been a phenomenal start to 2024 for the US dollar, which has already risen more than 2% against a basket of major currencies as a streak of encouraging economic data reinstilled confidence in the US economy, forcing traders to dial back bets of immediate Fed rate cuts. Economic growth has been faster than expected, empowered by strong consumption trends and heavy government spending. With the labor market also in good shape, it is becoming clearer that there’s no urgency to slash interest rates. , but is still far too high for the Fed to declare victory.
TVC:DXYLong
by Mrsam36
Usdcad buy setup read the caption Usdcad showed some resilience below the 200-period Simple Moving Average (SMA) on the 4-hour chart and the subsequent recovery favours bullish traders. Moreover, oscillators on the said chart have started gaining positive traction and holding in the bullish territory on the daily chart. This further validates a constructive outlook and suggests that the path of least resistance for the USD/CAD pair is to the upside. Any further move up, however, is likely to confront stiff resistance ahead of the 1.3530 psychological mark. This is followed by the 1.3535- 1.3640 double-top barrier, which if cleared decisively will set the stage for a move towards reclaiming the 1.3610 mark for the first time since December.
Long
by Mrsam36