Could the Aussie reverse from here?AUD/USD is reacting off the pivot which is an overlap support and could rise from this level to the pullback resistance.
Pivot: 0.6686
1st Support: 0.6648
1st Resistance: 0.6732
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.
Forexsignals
Bearish breakout?CAD/JPY is reacting off the pivot which acts as an overlap support and could breakout to the 1st support level.
Pivot: 108.03
1st Support: 106.91
1st Resistance: 108.68
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.
World gold prices increased despite the high USD index.World gold fees improved regardless of the excessive USD index. Recorded at 8:30 a.m. on October 16, americaA Dollar Index measuring the fluctuation of the dollar with 6 principal currencies changed into at 103,half points.
Gold rose amid falling US Treasury yields, even as buyers carefully awaited greater statistics for sparkling clues approximately americaA Federal Reserve`s (FED) economic easing cycle. ).
From the start of 2024 till now, gold fees have improved approximately 28% and outperformed US shares and bonds. Experts say that important banks' sturdy purchases of gold have contributed to the above increase. They appearance to this valuable metallic to defend country wide property in opposition to geopolitical and financial instability.
According to Mr. Terrence Keeley - former senior supervisor of economic institution BlackRock and presently CEO of marketplace studies employer Impact Evaluation Lab, on common 15% of forex reserves of important banks is in valuable metals consistent with marketplace valuation.
💎 OANDA:XAUUSD sell 2669 - 2671💎
✔️TP1: 2650
✔️TP2: 2645
✔️TP3: OPEN
🚫SL: 2678
Falling towards overlap support?AUD/CAD is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance which acts as a pullback resistance.
Pivot: 0.91801
1st Support: 0.91313
1st Resistance: 0.92483
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.
Potential bullish reversal?NZD/JPY is reacting off the pivot which has been identified as a pullback support and could rise to the 1st resistance level which acts as a pullback resistance.
Pivot: 90.25
1st Support: 89.88
1st Resistance: 90.61
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.
GBP/JPY October Strategy: Bearish Reversal Confirmed with TDI
GBP/JPY October Market Analysis and Trading Outlook
The GBP/JPY monthly structure for October presents an open high-low-close pattern, signaling a potential sell setup. This bearish outlook has been confirmed by the TDI (Traders Dynamic Index) cross, indicating that it is now appropriate to consider sell entries.
Key Technical Highlights:
1. Daily Timeframe Open High Structure: On the daily chart, the price action for the month of October has established an open-high structure, which is often a precursor to a shift in momentum, supporting a bearish setup.
2. Consolidation and 'M' Pattern Formation: The price has been ranging at the highs, creating a period of consolidation. This consolidation resembles an 'M' pattern, a classic reversal formation seen at market exhaustion points. This pattern is significant as it suggests a potential reversal from the current high, reinforcing the bearish outlook.
3. Bearish TDI Cross Confirmation: A bearish TDI cross has occurred, signaling the presence of sellers in the market. This cross is a crucial technical indicator that validates the entry for sell positions.
Take Profit Levels:
- Take Profit 1: 193.000
- Take Profit 2: 192.000
Trading Advice:
Although the bearish TDI cross has provided confirmation, it is important to remain patient and ensure that other market conditions align with this setup. Always wait for valid signals and maintain proper risk management when executing trades.
If you find this analysis helpful, please like, comment, and follow for more updates. I’ll be sure to follow back. Best of luck with your trading endeavors!
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#NZDJPY 4HNZDJPY 4H Chart Analysis – Triangle Pattern
On the 4-hour chart for NZDJPY, a Triangle pattern has formed, signaling potential breakout opportunities. Triangle patterns represent a consolidation phase where the price moves within converging trendlines, either towards an upline (resistance) or a downline (support). The market is squeezing into a tighter range, indicating that a larger move may be imminent.
Forecast:
-Buy when the price breaks out above the upline (resistance). This suggests bullish momentum, and you may look for a strong candle close above the resistance line to confirm the breakout.
-Sell when the price breaks down below the downline (support). A confirmed breakdown indicates bearish sentiment, and you may look for a strong close below the support line for confirmation.
Traders should wait for a decisive breakout or breakdown before entering trades, as false signals may occur within the triangle. Monitor key levels closely and consider volume for additional confirmation.
This XAUUSD rally still seems to have a lot of momentum.According to the World Gold Council (WGC), the weakening USD was the main factor driving the XAUUSD higher, as the Fed's big rate cut caused the USD to decline significantly.
Rising geopolitical risks with the worsening situation in the Middle East also boosted safe-haven buying.
The biggest drag on XAUUSD last month was the "momentum factor". A higher XAUUSD in the previous month tends to put downward pressure on the price in the following month and vice versa. Other gold pairs also recorded strong gains.
Safe-haven demand on geopolitical tensions in the Middle East wi, the breakout of the USD and strong economic data could have pushed gold down further, but in fact, the recent decline of gold has been relatively shallow. That shows that the buying power of the yellow metal has not ended yet.
Some other analysts said that although the price of gold has increased to 2,650 USD/ounce, the highest level in many weeks after the US announced the production index (PPI) at the end of last week, gold will still face difficulties in the coming time due to pressure from the USD and stronger bond yields.
Trading minute impulseOn the minute timeframe of XAUUSD at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
XAUUSD / BREAKOUT THE TREND / 1HXAUUSD / 1H TIME FRAME
HELLO TRADERS
Price Movement on Friday , The price rose by 0.93%, trying to reach $2,668 before declining to
$2,645 and $2,636.
Key Level at $2,668 , If the price breaks and stabilizes above $2,668, further upward movement is expected. The target for this rise is the all-time high (ATH) at $2,685.
Stabilizing Below $2,668 , If the price stabilizes below $2,668, it suggests a continued decline toward $2,645 and $2,636.
Breaking the ATH of $2,685 , If the ATH is broken, prices are predicted to move into a new historical zone between $2,700 and $2,710.
Breaking the Demand Zone at $2,636 , If prices break below and stabilize under $2,636, it
indicates further declines.
Trading Range , The price is expected to fluctuate between $2,685 and $2,604 overall.
Key Points:
Price Target Levels: $2,668, $2,685 (ATH), $2,700-$2,710 (new zone), and $2,636 (demand zone).
USDCAD Potential Drop after rejection from crossing of ResistancUSDCAD has been steadily climbing since the start of October, with nine consecutive bullish days. The price has now reached significant levels on both the weekly and daily timeframes. However, as it nears the resistance area, the candles are shrinking, signaling a potential loss of momentum. Zooming out, it's evident that the price has dropped from the 1.38500 resistance multiple times in the past. This suggests the potential for at least a short-term pullback. If a rejection candle forms, we could expect the price to move lower. Given that today's news is packed with CAD-related data, volatility is expected, possibly leading to large wicks in both directions. The target is the support level at 1.36650
EURUSDHello Traders!
What are your thoughts on EURUSD?
EURUSD has reached a key support zone. Despite the overall bearish trend in higher time frames, a bullish correction is expected from this level. The correction could extend to predetermined resistance levels.
Don’t forget to like and share your thoughts in the comments! ❤️
USD/JPY – Breakout of Resistance TrendlineWe have just broken out of the resistance trendline on USD/JPY. If you're currently short, I recommend reducing your position as the price approaches the green zone.
For those without a position, it might be wise to wait for the price to reach this green zone before considering a long entry. However, always wait for confirmation before entering long positions to ensure a higher probability of success.
EUR/USD – Potential Stabilization at Green Zone SupportThe Euro has been declining for several days, and as we approach the green zone identified as a support level, I believe we may see some stabilization or a rebound. This area has historically acted as a support level, and it could provide the necessary buying pressure to reverse the recent downtrend.
Strategy: I will be monitoring the price action closely around this green zone for signs of a potential bounce and may consider entering a long position if the conditions are favorable.
EUR/KRW Weekly Bullish Flag Pattern – Targeting the Pink Zone'm observing a bullish flag pattern forming on the weekly chart of EUR/KRW. This continuation pattern indicates the potential for an upward move. The price has consolidated within the flag, and I anticipate a breakout to the upside.
Target: My target is in the pink zone, which I've identified as a key resistance area. I believe this is where the price could move next based on historical price action .
Strategy: If the price reaches the pink zone, it may be a good time to reduce long positions and secure profits. I'll continue monitoring for signs of a breakout and further confirmation of this bullish trend.
Always remember to manage risk and adjust your positions accordingly.
Gbpusd confirm trendline read the caption The US Dollar (USD) gains support from increasing expectations that the US Federal Reserve (Fed) will avoid aggressive interest rate cuts, following a strong jobs report and concerns of sticky US inflation. According to the CME FedWatch Tool, markets are currently pricing in an 88.2% probability of a 25-basis-point rate cut in November, with no anticipation of a larger 50-basis-point reduction
Gold prices are testing resistance levels.Ames Stanley - senior marketplace strategist at the Forex market stated that traders took income after US financial reviews together with CPI and USD elevated sharply. The promoting circulate of traders won't be over yet. Gold costs are trying out resistance levels.
Economic occasions this week that effect gold costs encompass US retail income statistics and the European Central Bank`s economic coverage choice on Thursday.
The marketplace is likewise inquisitive about the Empire State production survey, weekly unemployment claims, housing begins offevolved and US constructing permits.
Besides, buyers and traders are listening to the Chinese marketplace. The u . s . a . plans to announce an financial stimulus package deal from authorities bonds, really well worth 283 billion USD.
🔥 XAUUSD buy 2632 - 2630 🔥
✔️TP1: 2642
✔️TP2: 2655
✔️TP3: OPEN
🚫SL: 2622
🔥 XAUUSD sel 2652 - 2654 🔥
✔️TP1: 2642
✔️TP2: 2632
✔️TP3: OPEN
🚫SL: 2662
Pullback support ahead?USD/CHF is falling towards the support level which is a pullback support that lines up with the 38.2% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 0.8607
Why we like it:
There is a pullback support level that aligns with the 38.2% Fibonacci retracement.
Stop loss: 0.8553
Why we like it:
There is an overlap support level which is slightly above the 38.2% Fibonacci retracement.
Take profit: 0.8692
Why we like it:
There is a pullback resistance level that aligns with the 61.8% Fibonacci projection.
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Potential bullish reversal?AUD/USD is falling towards the support level which is an overlap support that lines up with the 78.6% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 0.6686
Why we like it:
There is an overlap support level that aligns with the 78.6% Fibonacci retracement.
Stop loss: 0.6640
Why we like it:
There is an overlap support level.
Take profit: 0.6748
Why we like it:
There is an overlap resistance level that is slightly below the 23.6% Fibonacci retracement.
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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.
GBPJPY Bullish Continuation Breakout OpportunityGBPJPY price is breaking a credible resistance zone. If the price action is able to print a convincing Higher High, it may be a signal towards a proper Bullish breakout and a potential new ALL TIME HIGH may become more likely.
After the Bulls surf the potential wave till TP1, a probable opportunity may arise for the Bears in the form of a probable Harmonic reversal from key Fibonacci Harmonic price levels which increases the importance of moving SL to Break Even if TP1 hits.
Till then, opportunity may be seized by the Bulls.
Trade Plan:
Entry @ 197
Stop Loss @ 192.3
TP1 @ 201.7
TP2 @ 206.4
No. of Trades: 2
Move SL to Break Even if TP1 hits.
Bearish reversal?AUD/CHF is rising towards the resistance level which is a pullback resistance that lines up with the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 0.5817
Why we like it:
There is a pullback resistance level that aligns with the 61.8% Fibonacci retracement.
Stop loss: 0.5869
Why we like it:
There is a pullback resistance level.
Take profit: 0.5751
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.
Bullish momentum to extend?USD/JPY is falling towards the pivot which has been identified as a pullback support and could rise to the 78.6% Fibonacci resistance.
Pivot: 149.32
1st Support: 147.24
1st Resistance: 152.02
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.