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XAU Continues strong upward momentumWorld gold prices increased slightly today as investors waited for the US to announce inflation data in the next few days to predict when to cut interest rates. The information that may surprise the gold market in the next few days is the US core personal consumption expenditures index (PCE) - an important inflation measure of the US Federal Reserve (FED). The dollar slid to its lowest in more than a week, making gold cheaper for holders of other currencies. Gold prices in Asian markets almost went sideways during the trading session on May 28, when the USD weakened. Meanwhile, investors are waiting for important US inflation data to give clues about when the US Federal Reserve (Fed) will cut interest rates. “The outlook for a stronger USD is supported by a change in the US monetary policy stance, as the Fed begins to look for evidence to raise interest rates instead of easing monetary policy which could be a risk. big for the gold market.
OANDA:XAUUSD
by TrategySherpa
BluetonaFX - USDJPY Cannot Break 150Hi Traders! USDJPY is struggling to break the psychological 150 level, and there might be a possibility of the US dollar slowing down due to strong data coming out of Europe.   Price Action 📊 The market has reached the psychological level of 150 and has been trying to break the level for the past three weeks without any success. The market may have run out of buyers and may need new waves of buyers to enter the market, which may provide short-term selling opportunities. Fundamental Analysis 📰 The US dollar continues to trade strongly amid rising yields and escalating tensions in the Middle East, after US Federal Reserve Chair Jerome Powell stopped short of hinting that US interest rates have peaked. Strong data has started to come out of Europe with better-than-expected Flash PMIs across the EU and the UK.   Support 📉 145.073: PREVIOUS RANGE ZONE RESISTANCE Resistance 📈 150.000: PSYCHOLOGICAL LEVEL 151.946: APEX LEVEL Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
6
BluetonaFX - GBPAUD Triangle Break SHORT Idea Hi Traders! There is a potential triangle break on the GBPAUD 1D chart. Price Action 📊 Descending triangle with lower highs and lower lows. The market has also broken and been below the 20 EMA for the past 5 days. Looking for a momentum break below the support trendline for a possible short entry to the target area between 1.92500 and 1.92100. Support 📉 1.93706: SUPPORT TRENDLINE Resistance 📈 1.95070: PREVIOUS DAY'S HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Fundamental Analysis 📰 We must be careful with the high-impact data expected today from the USD and EUR and the ECB press conference later. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
4
BluetonaFX - SPX Approaching All-Time HighHi Traders! We are approaching the all-time high on the S&P 500, and traders are eagerly anticipating tomorrow's Federal Reserve interest rate decision along with the FOMC minutes meeting announcement. Looking at the technical price action on the 1W chart, the market has been in a steady bull market since October 2022. We have drawn the ascending price channel on the chart for you to see. Before the all-time high at 4818.62 (the apex level), there is a resistance level at 4637.30. This level is key because there was a price rejection at this level 16 months ago, and we have not been above it since then. If we get a break and close above 4637.30, then the apex level at 4818.62 is the next target, and if that breaks, then we will be trading in record-breaking territory. On the other side, if 4637.30 holds and there is not a break and close above this level, then the bull market we have had for the past 16 months may be coming to an end, and we may get a pullback to the long-term support level at 4325.28. Please do not forget to like, comment, and follow, as your support greatly helps. We appreciate your continued support! BluetonaFX
SP:SPX
by BluetonaFX
2
2023.7.14 USD has fallen below the 100 integer mark2023.7.14 USD has fallen below the 100 integer mark Hello, I'm Older Duan. Today is Friday, July 14th 2023. Now it's 17pm Beijing time. Let me give you a quick comment on the technical forms of the current international mainstream varieties! First, what we see is the daily graph of the dollar index. As shown in the figure, the U.S. Dollar Index has fallen below the 100.00 integer level, coming near the daily level of 610MA! Now, let's look at gold. Now you can see the daily chart of gold. The figure superimposes the combination of gold's recent bottom-up golden section and Fibonacci parameter mean square! As shown in the figure, gold has been trading at the bottom against the 2.000 level of the gold split in the past two trading days, and it is also the highest point on February 2, 2023 ($1959.69), engaging in long short competition! Then, we can continue to use this position as an important Bitwise operation in the day later today! Above this position, bulls dominate; Below this position, bears dominate! Let's take a look at American crude oil. What you are now seeing is daily level candle chart of US crude oil. The graph superimposes the recent bottom-up golden section of US crude oil and the Fibonacci parameter mean square combination! As shown in the figure, US crude oil yesterday broke through the bottom of the bullish 1.618 and daily level 233MA, and today's low hit the daily level 233MA ($76.35)! Then, in the following time today, just use this position as an important point in the day for Bitwise operation! Above this point, bulls dominate; Below this point, bears dominate! Let's look at EURUSD. What you can see now is the daily chart of EURUSD. The figure superimposes the combination of European and American currencies against the recent bottom of the golden section and Fibonacci parameter mean square! As shown in the figure, the euro rose sharply against the US dollar again yesterday, with the next strong pressure at 1.12800! Then, in the future, we can use today's opening price (1.12228) as the Bitwise operation of the day's important point! Above this position, bulls dominate; Under this position, bears dominate! Finally, let's take a look at GBPUSD. Now you can see the daily chart of GBPUSD. The figure superimposes the combination of the recent bottom of the GBPUSD against the golden section and the Fibonacci parameter mean square! As shown in the figure, the pound has reached a strong pressure level against the US dollar: the bottom is at 2.382 (around 1.31300) above the golden section! Then this position will be used as the Bitwise operation operation of the important point in the day in the future! Above this position, bulls dominate; Under this position, bears dominate! Well, the above is a quick inventory of the technical forms of the international mainstream varieties in today's European period! Special reminder, Today is Friday, and all important data for this week has been released. The weekly line will close tonight, and it is likely that there will be a pullback trend. Please pay attention to the risks! Im Older Duan. Wish you happy win . Goodbye!
PEPPERSTONE:USDX
by Think_More
CADGBP Triple Bottom Chart PatternCADGBP, the Canadian Dollar against the British Pound, is showing indications of a potential reversal as it forms a triple bottom pattern on the 1-hour timeframe, finding support at a key level. This pattern suggests a potential shift from a downtrend to an uptrend. Traders observing this potential reversal might consider a take profit level at 0.5983, targeting an upward price movement towards this objective. To manage risk effectively, it is advisable to place a stop loss at 0.5932, serving as a protective measure if the reversal does not materialize as anticipated. While the triple bottom pattern and support level offer encouraging signals, it is essential to consider other factors such as overall market conditions, fundamental analysis, and prevailing market sentiment. Relying solely on technical patterns may not guarantee successful trades, so it is important to closely monitor the market for any changes or developments. Looking forward to read your opinion about it!
Long
by TopgOptions
CADAUD Falling Wedge PatternCADAUD, the Canadian Dollar against the Australian Dollar, is showing signs of a potential reversal as it reaches the end of a falling wedge pattern at a key support level. This pattern typically indicates a potential trend reversal from a downtrend to an uptrend. Traders considering this potential reversal may set a take profit level at 1.1148, aiming for an upward price movement towards this target. To manage risk, it is recommended to place a stop loss at 1.0960, serving as a safeguard in case the reversal does not materialize as anticipated. While the falling wedge pattern and support level provide encouraging signals, it's crucial to consider other factors such as market conditions, fundamental analysis, and overall market sentiment. Technical patterns alone do not guarantee successful trades, and it's essential to closely monitor the market for any potential changes. Looking forward to read your opinion about it.
Long
by TopgOptions
GoldViewFX - 4H MARKET UPDATEHey Everyone, Please see update on our 4H chart idea which is playing out as analysed. We got a nice drop into the retracement range followed with a prefect bounce with candle wicking out on our 1967 Goldturn support into our first target. Although our 1H chart idea has opened both ways with the swing range being open; the 4H chart is still supporting above the retracement range, as EMA5 remains above the retracement range. We remain Bullish with our long term plans and will continue to track the price level to level when buying dips from support levels with the short term trend down. We also have a long range Axis target at 2052 on the 4H chart. BULLISH TARGETS 2005 - DONE 2022 - 2039 - 2052 - BEARISH TARGETS 1993 - DONE 1980 - DONE EMA5 CROSS AND LOCK BELOW 1980 WILL OPEN THE SWING RANGE SWING RANGE 1960 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
10
GBPJPY DAILY ANALYSIS, the crucial support line lies around 149First, let us cover some historical points in GBP/JPY's near history. Looking at the bigger picture, we are in the clear consolidation zone. The crucial support line lies around 149. The pivotal resistance line would be near 158. We are currently in the downtrend, on our way to the support line as we hit resistance. We can even see a strong chart pattern, a double top with neckline broken. That shows down movement for us. Price will most likely hit the support line and yet again bounce from it. That would make a significant entry point for buyers (if confirmed). Regardless, price action can still break this support zone and start the downtrend. Use this information at your own risk. This analysis is to point out the high probability key points. For day traders, it is crucial to know the bigger picture. Have fun trading!
Short
by SYMA_FOREX