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USDJPYHello Traders! 👋 What are your thoughts on USDJPY? USDJPY is moving within a descending channel and has currently reached the top of the channel, just below a resistance zone. We anticipate some consolidation in this area, followed by a potential drop toward the bottom of the channel. For a safer sell entry, it’s better to wait for a break below the specified support level. After the breakout, a pullback to the broken support could offer a good sell opportunity. 💡Will USD/JPY respect the channel and head lower, or break out to the upside? Share your view below! 👇 Don’t forget to like and share your thoughts in the comments! ❤️
Short
by HAMED_AZ
3
EUR/USD: Bearish Reversal Potential at Fibonacci LevelEUR/USD daily chart provides a nice short opportunity. The pair recently experienced a retracement as part of an extended downtrend, reaching the 70.00% Fibonacci retracement level and facing resistance at the 1.09957/1.09947 level. A confluence of technical variables in this way can serve as a potential reversal point and resumption of the underlying bearish trend. Trading Strategy: Entry: Sell short EUR/USD at or near the prevailing price (1.08361) on confirmation of bearish price action such as a rejection candle off the resistance point. Stop Loss: Place a stop-loss order above the new high (1.12142) or at a judiciously chosen resistance level to manage risk. Take Profit: Look for the following support levels as probable take-profit points: 1.07323 1.07286 1.06794
Short
by ultreosforex
1
GOLDThe chart shows Gold (XAU/USD) on a 1-hour timeframe, highlighting a bullish trend and key levels that traders should monitor. Here's a detailed breakdown: Key Observations: 1. Bullish Momentum: The price is currently in an uptrend, with a clear bullish breakout from the support zone near 3,000.000. This upward movement shows strength, indicating that gold is in a bullish phase, heading toward a higher target. 2. FVG (Fair Value Gap): The chart marks an FVG (Fair Value Gap), an area where price imbalances occurred. This gap may act as a support area if price retraces, potentially providing buying opportunities. The FVG area is located around 3,022.790, and if the price pulls back into this zone, it could present a good opportunity for a rebound. 3. Order Block: The order block is located above the FVG zone, near 3,030.000, marking a potential resistance level. This is where price might face selling pressure. If the price struggles to break through this order block, there could be a slight pullback or consolidation before continuing the upward movement.4. Target: The target is set at 3,004.000, which is the next key level. This price level might be a point where the price could face resistance or a potential reversal if it moves too quickly toward this level. Potential Scenarios: 1. Bullish Scenario: If price breaks the order block at 3,030.000 and continues upward, it could target the 3,004.000 level. If the bullish momentum continues, we could see further movement above 3,040.000 in the near term. 2. Bearish Reversal: If the price fails to break the order block and starts to retrace, there is a potential for a pullback to the FVG around 3,022.790. This would be an opportunity for traders to buy the dip, especially if the price holds above the FVG zone. Conclusion: The chart shows a bullish outlook for gold with a target at 3,004.000. Watch for the price to either break the order block for continuation of the bullish trend, or retrace back to the FVG support zone for a potential bounce. Traders should focus on these key levels and look for confirmation of price action to decide on entry points.
TVC:GOLDShort
by Joan_Pro_Trader
GBPUSD DOWN NEXT MOVE BIG FALL SOON Bullish Breakout Scenario (Reversal): Alternative Idea: Instead of reversing at the strong selling zone, GBP/USD could break above the resistance level at 1.2940 and continue upward. Trigger: If strong bullish momentum emerges (e.g., fueled by positive UK economic news or weak US dollar sentiment), this could invalidate the bearish setup and turn the trend bullish. Next Target: A breakout might push the price toward 1.3000 or higher, targeting previous swing highs. 2. Range-Bound Movement: Alternative Setup: GBP/USD may fail to show any clear breakout and instead consolidate within a tight range between 1.2880 and 1.2940. Trigger: Lack of volume or mixed economic data could lead to sideways movement, trapping traders expecting immediate directional momentum. 3. Bullish Divergence Possibility: Technical Suggestion: Check for a potential bullish divergence on momentum indicators like RSI or MACD, where price is making lower lows, but the indicator shows higher lows. Implication: This could signal weakening bearish pressure, increasing the chances of a reversal. 4. Fundamental Risk: Macroeconomic Impact: The chart analysis could be disrupted by upcoming events like central bank decisions, inflation data, or geopolitical developments that may favor either currency
Long
by mrsamfx81
EUR/USD: Sideways Movement Persists Below Key LevelThe EUR/USD market remains in a consolidation phase just below the November 2024 low. Recently, the price experienced false breakouts beneath both a key support level and last week's low, followed by a strong bullish rebound. This pattern suggests a likelihood of continued sideways movement in the near term. At present, the price is testing the previous day’s high. If upcoming news does not negatively affect sentiment, the market may attempt a move higher, especially after multiple failed breakdowns of support. However, until a decisive break occurs beyond last week’s range, price action is expected to remain range-bound. The next target lies at the resistance zone around 1.08820
Long
by RTED_Investing
Market Recap And Next Weeks Plan📉 Market Recap & Next Week’s Plan Last week, we saw GBP/USD make a bullish push early in the week, forming a high on Wednesday before reversing and breaking structure on the 4H time frame. Key levels of 1.29512 and 1.29105 were taken out, signaling a potential shift towards a bearish move. Next Week’s Expectations I’m anticipating a retracement before continuation, and I’ll be watching for selling opportunities at key levels. 📍 Potential Sell Zones: 🔹 1.29622 (High-interest POI, higher probability of forming) 🔹 1.29794 🔹 1.29893 📍 Potential Buy Zone (If Market Drops Further): 🔹 1.28848 Overall Bias: 📉 Bearish – I’ll be focused on selling opportunities unless the market structure shifts significantly. Patience is key. Let’s see how the market develops this week. 💬 What’s your bias for next week? Let me know in the comments. 👇 #ForexTrading #MarketOutlook #GBPUSD #TradingPlan
by CARVAH
USDJPY: Critical moment for the 2 month Channel Down.USDJPY is neutral on its 1D technical outlook (RSI = 46.506, MACD = -0.960, ADX = 25.882) as it is on the tightest range possible between the 4H MA50 and 4H MA200. This consolidation is taking place at the top of the 2 month Channel Down. As long as it holds, the trade is short, aiming for a -3.20% bearish wave (TP = 145.500). If the price crosses above the 4H MA200 though, go long, aiming for the R1 level (TP = 154.835). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
USD/CAD: Sideways Movement Signals Possible DownsideAfter a bearish move, the USD/CAD pair staged a pullback, forming a long-tailed candle on the daily timeframe that points to a potential retest of the zone above the 1.4200 level. Currently, the market is trading sideways, positioned just above the previous day's low. If the price breaks and closes below this low, it may attempt to retest the support zone beneath. However, with price action still contained within the weekly range, continued oscillation between the upper and lower boundaries remains possible. A move to the downside is anticipated if the pair holds below the upward trendline, with the next target being the support zone around 1.42615
Short
by RTED_Investing
Gold Price Analysis March 20⭐️Fundamental analysis Gold prices fell slightly after hitting a record high on Thursday, ending a three-day winning streak. Profit-taking pressure from buyers, along with positive risk sentiment in the market, weakened gold. At the same time, the modest increase in the USD also put downward pressure on gold prices in the European trading session. However, expectations of an early Fed rate cut could limit the USD's rise, supporting gold prices. In addition, concerns about former President Donald Trump's trade policy and escalating tensions in the Middle East could continue to act as factors driving gold demand. This requires investors to be cautious before making trading decisions. ⭐️Technical analysis The D1 candle has not yet shown any signs of a reversal in GOLD. Therefore, the trading strategy has not yet shown any signs of peak detection or peak catching. BUY is still easier to win. Yesterday's US session buy zone 3038 in today's European trading session plays an important resistance zone. Currently, gold has confirmed a break of 3045 for a SELL signal and is heading towards 3038. Before 2 hours of the end of the European session, if gold does not break through this zone, it is still possible to BUY around 3038. 3031 and 3029 play the role of resistance zones for the day when breaking through 3038. Today, waiting for a retest to BUY is the safest
OANDA:XAUUSD
by TVS-Trader
Xauusd Trap to Sellers but Strong upward bullish Trend soonThe chart displays Gold (XAU/USD) on a 1-hour timeframe, showing a bullish trend with a defined upward channel. Here’s the breakdown: 1. Bullish Momentum: The price is following an upward trend within an ascending channel, indicating that the bullish momentum is strong. The target is set at 3060, suggesting that the price is expected to reach this level if the upward movement continues. 2. Order Block: The order block is identified at the top of the channel, which represents an area of significant buying interest. If the price pulls back to this order block, it could serve as a key support level and a potential area to enter long positions. 3. FVG (Fair Value Gap): An FVG zone is marked around 3043. This zone indicates an imbalance in market orders and may act as a support level for a price pullback before continuing the bullish trend. The FVG gap needs to be filled, and a price move back into this region may offer opportunities for buying. 4. Price Action: The price is currently testing an important support zone within the channel and the FVG. If the price holds above this zone, the bullish trend is likely to resume toward the target of 3060.5. Target 3060: The 3060 level is the primary target for the current bullish trend. If the price successfully breaks above the current resistance levels, the market could continue upward toward this price point. Conclusion: The chart shows a bullish outlook for Gold, with a potential target of 3060. Watch for a possible pullback to the FVG gap around 3043, which could provide an opportunity to enter long positions. If the price holds above this level, the bullish momentum will likely continue, reaching the 3060 target.
FX:XAUUSDLong
by Joan_Pro_Trader
EURGBP: Rectangle Top rejection. Sell opportunity.EURGBP is neutral on its 1D technical outlook (RSI = 52.272, MACD = 0.002, ADX = 25.202), going from an almost overbought RSI to neutral as it got rejected on the R1 Zone. That is the top of the 6 month Rectangle pattern, where the last rejection pulled the price all the way down to the S1 Zone. This time the presence of both the LH and HL trendlines makes us consider a slightly tighter trading range. The trade is short, TP = 0.82600. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
DXY: Starting a new Channel Up rally into Summer.The U.S. Dollar Index is near the oversold zone on its 1D technical outlook (RSI = 37.232, MACD = -1.040, ADX = 33.922) having reached the bottom of the 9 month Channel Up. The 1D RSI was oversold last week but is seen rebounding. This is exactly the kind of formation we had on the previous bottom of the Channel Up as well as the December 28th 2023 low.. The selling sequences that led to those lose have been almost the same as today's (-6.32% and -5.74%). The last Channel Up bullish wave reached exactly the 1.618 Fibonacci extension. Consequently we can go long here with an acceptable risk, targeting the top of the Channel Up (TP = 113.000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:DXYLong
by InvestingScope