World gold was sold off and plummetedGold sold off and plunged to its lowest level in 3 weeks after the unexpectedly decisive victory of Republican US presidential candidate Donald Trump.
The Federal Reserve's FOMC meeting appears to be overshadowed but also in the spotlight this week. The meeting began Wednesday morning and ended Thursday afternoon with a statement from the FOMC and a press conference from Fed Chairman Powell. Most people believe the Fed will cut its key interest rate by 0.25%.
“While the market expects a 25 basis point rate cut, any sign of a pause or slowdown in cuts will put further pressure on gold, which is already sensitive to rising interest rates and a stronger dollar",
“With a stronger dollar and rising yields, gold faces immediate downside risks, potentially extending towards the 50-day moving average at $2,636.66 an ounce if the Federal Reserve State signals more caution about future interest rate cuts.”
This puts a lot of pressure on Gold and we can completely believe that gold will fall even deeper
🔥 XAUUSD BUY LIMIT 2649 - 2647🔥
✅TP1: 2660
✅TP2: 2670
✅TP3: OPEN
🚫SL: 2638
🔥 XAUUSD SELL LIMIT 2676 - 2674🔥
✅TP1: 2665
✅TP2: 2655
✅TP3: OPEN
🚫SL: 2685
Forexsignal
Bearish reversal off 50% Fibonacci resistance?XAG/USD is rising towards the resistance level which is a pullback resistance that aligns with the 50% Fibonacci retracement and could drop from this level to our take profit.
Entry: 1.2953
Why we like it:
There is a pullback resistance level that aligns with the 50% Fibonacci retracement.
Stop loss: 1.3045
Why we like it:
There is a pullback resistance level.
Take profit: 1.2844
Why we like it:
There is a pullback support level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Xauusd sell From a technical perspective, last week's failure near the top boundary of an ascending channel extending from late July and the subsequent pullback from the all-time peak could be seen as a sign of bullish exhaustion. However, mixed oscillators on the daily chart warrant some caution before positioning for further losses. Hence, any further decline is more likely to find some support near the $2,720-2,715 horizontal zone, below which the Gold price could aim to challenge the trend-channel support, currently pegged near the $2,690 region. Some follow-through selling would mark a bearish breakdown and pave the way for some meaningful corrective fall in the near term.
Gold now sell 2740
Support 2730
Support 2725
EURUSD Analysis==>>Ascending Broadening Wedge Reversal Pattern!EURUSD ( FX:EURUSD )has managed to form an Ascending Broadening Wedge Reversal Pattern near the Resistance zone($1.0980-$1.0912) and Yearly Pivot Point .
Also, Regular Divergence (RD-) between Consecutive Peaks .
I expect the EURUSD to attack the Support zone($1.0816-$1.0775) again in the coming hours.
Euro/U.S.Dollar Analyze (EURUSD), 1-hour Time frame ⏰.
🔔Be sure to follow the updated ideas.🔔
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 gladly see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
EURUSD Analysis==>>Inverted Head and Shoulders Pattern!!!EURUSD ( FX:EURUSD ) is moving near the Upper line of the Descending Channel , Support zone($1.0816-$1.0775) , and Support lines .
Regarding Classic Technical Analysis , EURUSD has already broken the Neckline of the Inverted Head and Shoulders Pattern ( Bullish Reversal Pattern ).
Also, Regular Divergence (RD+) between Consecutive Valleys .
I expect EURUSD to rise to at least the width of the descending channel after breaking the upper line of the descending channel and SMA(100) and then attacking the Resistance lines .
⚠️Note: If EURUSD goes below $1.075, we must wait for more dumps to at least $1.069⚠️
Euro/U.S.Dollar Analyze (EURUSD), 1-hour Time frame ⏰.
🔔Be sure to follow the updated ideas.🔔
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 gladly see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Bearish drop?NZD/USD is rising towards the resistance level which is an overlap resistance that is slightly below the 23.6% Fibonacci retracement and could drop from this level to our take profit.
Entry: 0.5986
Why we like it:
There is an overlap resistance level that is slightly below the 23.6% Fibonacci retracement.
Stop loss: 0.5913|
Why we like it:
There is a pullback support level.
Take profit: 0.6024
Why we like it:
There is an overlap resistance level that is slightly above the 38.2% Fibonacci retracement.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
short GOLD for a quick scalp on the 30 min timeframeWe're hitting a resistance on the 30min timeframe.
If it's broken, i'll close the trade and enter on the second resistance zone i drew.
Bollinger bands on the 30 min timeframe, and RSI/MA cross on the 5 min timeframe (above 70) is telling me that it might be time for a small scalp (short).
#XAUUSD #GOLD 4HBased on the 4-hour analysis, the current floating candle demonstrates significant volume strength. If the price manages to close above Friday's high, it’s anticipated that the bullish momentum could drive the price directly towards the 2800.00 level. However, if the price fails to break this resistance, we may likely witness a retracement before any further upward movement.
#XAUUSD
US30 BUY ANALYSIS US30 BUY ANALYSIS
Technical Analysis:
1. Ascending Channel:
• The price is trading within a well-defined ascending channel. The current position of the price is at the lower boundary of the channel, which typically acts as a strong support zone.
• Buying near the lower trendline is a strategic move, as the expectation is for the price to move back up towards the upper boundary of the channel, following the trend.
2. Support and Risk Management:
• The lower channel boundary aligns with a previous key support level, increasing the probability of a bounce. This provides a favorable risk-to-reward ratio, with a clear stop-loss below the channel.
• The trade setup targets a move to the upper channel boundary, offering a potential upside while keeping risks managed.
3. Bullish Momentum:
• The overall structure remains bullish, with the price making higher highs and higher lows within the channel. This indicates that the broader uptrend is intact, making a buy position at support more attractive.
Conclusion:
The decision to buy US30 here is based on the current position within the ascending channel, taking advantage of the support provided by the lower trendline and targeting a potential move back towards the channel’s upper boundary for profitable opportunities.
GBP/USD Daily Chart Analysis: Short-Term Trend Channel: The price is moving within a downward trend channel, marked in blue. This indicates continued downward pressure in the short term.
Bullish and Bearish Scenarios:
Bullish Scenario: As shown by the blue arrows on the chart, the price might make a corrective move up toward the upper boundary of the channel. The target for this movement could be around the 1.32631 level. If this rise occurs, there could be potential buying opportunities.
Bearish Scenario: If the price reaches the upper boundary of the channel, it might encounter resistance and resume a downward trend. In this case, it could potentially drop back to the 1.2960 level or even lower to the support levels at 1.28166 and 1.26647.
Support and Resistance Levels:
Resistance Levels: The 1.33900 and 1.34450 levels are strong resistance zones. If the price reaches these levels, it may face significant selling pressure.
Support Levels: The 1.28166 and 1.26647 levels are possible support points. If the price declines to these levels, it might find upward momentum.
Risk Management: The red zone appears to be a potential stop-loss area, likely set to manage risk during the upward correction.
Trendline: The yellow trendline forms a significant support area for the price direction. As long as the price remains above this line, there’s a chance for upward movements to continue.
Overall, this analysis suggests a short-term upward correction followed by a potential continuation of the downtrend. Resistance and support levels can be monitored for entry and exit points.
#USDCHF 1HThe USDCHF 1-hour chart is showing a rising channel support, suggesting a potential buying opportunity as price approaches the lower boundary of a well-established upward channel. This support area has previously acted as a launchpad for upward moves within the channel, indicating strong buying interest at these levels.
As the price tests the channel support, the likelihood of a bounce or continuation to the upper boundary increases, supporting a buy setup from this area.
Key points to consider:
- The rising channel support aligns with the prevailing bullish trend, reinforcing the setup.
- Price stability or bullish candlestick patterns at this level could confirm buyers' interest.
- Momentum indicators (such as RSI or MACD) may indicate oversold conditions, adding confidence to the bullish forecast.
Overall, the forecast for USDCHF in the near term is bullish, with potential gains as price respects the rising channel support.
#EURJPY 1HThe EURJPY 1-hour chart is currently testing the **channel resistance**, indicating a potential selling opportunity as price reaches the upper boundary of a well-defined downward or sideways channel. This resistance area, formed by multiple touches, has held consistently, suggesting that sellers may step in to maintain the channel structure.
With the pair facing channel resistance, the likelihood of a pullback or continuation to the lower channel boundary increases, favoring a sell setup from this level.
Key points:
- The channel resistance acts as a barrier, which could cap upward moves.
- Price rejection at this level would signal sellers' strength and validate the setup.
- Momentum indicators (such as RSI or MACD) could confirm overbought conditions, supporting the bearish outlook.
In summary, the forecast on EURJPY in the near term is bearish, with a focus on lower levels as the price respects channel resistance.
#XAUUSD 4HThe XAUUSD (Gold) 4-hour chart is displaying a classic Head and Shoulders pattern combined with a trendline breakdown, signaling a bearish setup. The Head and Shoulders pattern is a well-known reversal pattern that often indicates a potential shift from bullish to bearish momentum. This formation, along with a confirmed breakdown below the neckline and a key trendline, strengthens the bearish bias.
Following the trendline breakdown, sellers appear to be in control, with the probability of a continued decline in price. This suggests an optimal **sell** opportunity with a focus on lower price targets.
Key considerations:
- The Head and Shoulders pattern confirms a likely trend reversal.
- Trendline breakdown adds confluence to the bearish setup.
- Further downward pressure may be anticipated, particularly if there is no successful retest of the broken trendline.
Overall, the forecast leans towards a bearish outlook on XAUUSD in the short to medium term.
Heading into 50% Fibonacci resistance?The Swissie is rising towards the pivot which is an overlap resistance and could reverse to the 38.2% Fibonacci support.
Pivot: 0.8667
1st Support: 0.8636
1st Resistance: 0.8686
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
#EURCHF 4HEUR/CHF 4-Hour Chart Analysis:
The EUR/CHF 4-hour chart is showing strong price action near a key support level. This zone has been tested multiple times, and buyers have consistently defended it, suggesting that it could act as a solid foundation for a potential upward move.
Forecast:
-Buy near the support level, as the price is expected to bounce higher from this zone.
- The support level is likely to hold, providing a good opportunity for buyers to enter the market before an upward reversal.
- Look for further confirmation through bullish candlestick patterns or increased buying volume to validate the support and signal a continuation of the uptrend.
Let me know if you'd like any adjustments!
#NZDUSD 2HNZD/USD 2-Hour Chart Analysis:
The NZD/USD 2-hour chart is forming a falling wedge pattern, a bullish reversal signal. The price has been moving downward within the wedge, but the narrowing range suggests that selling pressure is weakening, and a breakout to the upside is likely.
Forecast:
-Buy once the price breaks above the upper resistance line of the falling wedge, signaling a bullish reversal.
- A breakout from this pattern often leads to a strong upward move as buying momentum builds.
- Watch for confirming signals, such as increased volume or bullish candlestick patterns, to validate the breakout and strengthen the buy signal.
Let me know if you’d like to tweak any details!