USDJPY trading signalsHello traders. USDJPY is forming wave ABC with the expectation of rising above wave 5 to form a new wave. Our BUY signal is formed at 148.700 with SL Zone 148.300. Wish you successful trading.
Forexsignals
short term trading strategy for goldWorld gold prices rose again to around $2,640/ounce. High inflation data may cause the US Federal Reserve (Fed) to cut interest rates at a low level at its upcoming meeting in November. According to the CME FedWatch tool, the market is expecting an 84.9% chance that the Fed will cut 25 basis points at its November meeting.
Peter A. Grant, Vice President and Senior Metals Strategist at Zaner Metals, predicts that gold prices may soon reach $2,700/ounce and even $3,000/ounce as safe-haven demand continues to increase. Some other experts also expect gold prices to continue to increase in the near future due to global economic and geopolitical instability. Despite the pressure from US interest rate fluctuations and geopolitical tensions, precious metals are still a safe choice for long-term investors.
Swiss bank UBS predicts that the ongoing easing of monetary policy, not only by the Fed but also by other central banks globally, will continue to support gold prices.
Audusd confirm analysis read the caption The AUDUSD fell to - and through the 38.2% retracement of the move up from the August low at 0.67146 late yesterday, but bounced higher in the Asian session today. The high price in the Asian session extended up to 0.67417 which was just short of the low of a swing area 0.67429.
The subsequent fall back to the downside helped by CPI and initial jobless claims did see a new low reached at 0.66997. That low was ahead of a swing area between 0.6685 and 0.6696. The 100 day moving averages between those levels as well
XAU will continue to rise in the coming timeThe market is expecting an 84.9% chance that the Fed will cut by 25 basis points at its November meeting.
Some other experts also expect gold prices to continue to rise in the coming time due to global economic and geopolitical instability. Despite the pressure from fluctuating US interest rates and geopolitical tensions, the precious metal remains a safe choice for long-term investors.
Gold cross 2700 slowly but surely read the caption Gold price is looking to build on the previous recovery from three-week lows of $2,604 early Friday. Broad risk aversion and a modest US Dollar (USD) downtick support Gold price heading into the US Producer Price Index (CPI) data release due later on Friday.
US jobs worries outweigh hot inflation, lifting Gold price
Gold price continues to cheer the unfazed odds of a 25 basis points (bps) interest rate cut by the US Federal Reserve (Fed) in November. Markets currently price in about an 86% chance of such a move next month
Gold Analysis October 10Fundamental Analysis
Gold prices attracted some buyers on Thursday and now appear to have snapped a six-day losing streak to a near three-week low around the $2,605-2,604 region tested the previous day. However, the rally lacked bullish conviction and is likely to run out of steam amid growing bets that the Federal Reserve (Fed) will cut its benchmark interest rate by 25 basis points (bps) in November. This has helped the US Dollar (USD) maintain its recent strong gains to an eight-week high and will act as a drag on the non-yielding yellow metal.
Traders may also prefer to stay on the sidelines and wait for the release of key US consumer inflation figures later in the North American session. The important US CPI report could influence expectations for the size of the Fed rate cut next month, which would boost demand for USD and provide some meaningful impetus to Gold prices. In addition, developments surrounding the ongoing conflicts in the Middle East will be looked at to capture short-term opportunities around the safe-haven precious metal.
Technical Analysis
The price range to watch for CPI trading strategies. The upper price range of 2626 and 2638 became one of the first major SELL zones in the Asian session yesterday. The 2638-2640 area is the critical zone of the EMA.
The lower price range is focused on the US session around 2605 and the important breakout zone of 2594 will be notable in today's US session. This short-term downtrend is not over yet as the gold price has not been able to close the day above the 263x area. Wishing everyone a successful trading.
Gold: False Breakout and Bullish MomentumRecently, gold experienced a false breakout and re-tested support at 2622. This re-test has led the market back into a sideways movement, but with a strong bullish momentum building up along the trendline.
Resistance at 2655: If gold can reach and sustain its price at 2655, this will serve as the first confirmation of a bullish trend continuation.
Second Confirmation at 2686: A further rise and hold at 2686 will provide a second and more robust confirmation of the bullish trend.
Take Profit (TP): After gold reaches 2686, traders can consider taking profits.
Stop Loss (SL): A stop loss can be placed around $15-$20 below the entry point, or according to your risk management strategy.
Good luck with your trading 👋
Bearish drop?NZD/USD is rising towards the resistance level which is a pullback resistance that aligns with the 23.6% Fibonacci retracement and could drop from this level to our take profit.
Entry: 0.6127
Why we like it:
There is a pullback resistance level that aligns with the 23.6% Fibonacci retracement.
Stop loss: 0.6172
Why we like it:
There is an overlap resistance level that lines up with the 38.2% Fibonacci retracement.
Take profit: 0.6053
Why we like it:
There is a pullback support level.
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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.
Bullish reversal off 50% Fibonacci support?EUR/AUD is falling towards the support level which is an overlap support that aligns with the 50% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 1.61880
Why we like it:
There is an overlap support level that aligns with the 50% Fibonacci retracement.
Stop loss: 1.61006
Why we like it:
There is an overlap support level that is slightly above the 78.6% Fibonacci retracement.
Take profit: 1.63341
Why we like it:
There is an overlap 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.
Bearish reversal?AUD/CAD is rising towards the resistance level which is an overlap resistance that is slightly above the 50% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 0.92725
Why we like it:
There is an overlap resistance level that is slightly above the 50% Fibonacci retracement.
Stop loss: 0.93199
Why we like it:
There is a pullback resistance level that is slightly below the 78.6% Fibonacci retracement.
Take profit: 0.91910
Why we like it:
There is an overlap 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.
Overlap resistance ahead?NZD/CAD is rising towards the resistance level which is an overlap resistance that is slightly above the 38.2% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 0.84210
Why we like it:
There is an overlap resistance level that is slightly above the 38.2% Fibonacci retracement.
Stop loss: 0.84707
Why we like it:
There is a pullback resistance level.
Take profit: 0.83229
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.
Bearisd drop?The Gold (XAU/USD) is reacting off the pivot which acts as a pullback resistance and could reverse to the 50% Fibonacci support.
Pivot: 2,634.58
1st Support: 2,589.42
1st Resistance: 2,668.40
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.
The Kiwi has a strong bearish momentum, could it fall further?The price is rising towards the pivot which acts as a pullback resistance and could fall to the the 1st support level which is a pullback support.
Pivot: 0.6127
1st Support: 0.6051
1st Resistance: 0.6174
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.
Falling towards overlap support?USD/JPY 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: 147.15
1st Support: 145.78
1st Resistance: 149.29
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.
Buy on GBPJPYI am entering along position on GBPJPY (after a small correction) for the following reasons :
- RSI/MA Cross
- previous support
- trending bullish channel
- the bollinger bands are tight and might respect the trend
We might consider a short if the bullish trend if over, i'll share a good entry if it happens.
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.
