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EURUSD: Standard Channel Up targeting above the 4H MA200.EURUSD may have turned bearish today on its 1D technical outlook (RSI = 41.238, MACD = -0.005, ADX = 33.591) but 4H remains neutral as the pullback is the technical bearish wave of the Channel Up you see on the chart. The two bullish waves we've had so far have been exactly the same at +1.65% with the 4H RSI S1 Zone providing the most accurate buy entries. Consequently, this is now the best level to go long and target a crossing over the 4H MA200 on another +1.65% bullish wave (TP = 1.06675). 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. ##
Long
by InvestingScope
1
GBPUSD: Channel Up attempting a 4H MA200 cross.GBPUSD is neutral on its 1D technical outlook (RSI = 49.376, MACD = -0.004, ADX = 36.982) as despite having started a Channel up since the November 22nd bottom, this is after a long term bearish trend that only now will determine if it will switch to bullish or not. Today was in fact the 2nd rejection on the 4H MA200 but at the same time, the 4H MA50 is supporting. This range makes the 4H timeframe neutral as well. If the MA50 continues to hold and the 4H MA200 is crossed with a full candle close, then we will take a short term long, aiming under the 2.382 Fibonacci extension (TP = 1.29000). 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. ##
Long
by InvestingScope
Intraday Analysis: CADJPY Forecast and Trade SetupThe overall trend on the major timeframes for CADJPY remains bullish, despite a breakdown continuation observed last week. Current Market Overview: The lower timeframe (M5) printed a bullish wave structure this morning. We anticipate a corrective move below 105.76. In the short term, a potential downside reversal is expected. Trade Setup: Look for shorting opportunities below 106.34, targeting a break below 105.77. If price action breaks below 105.77, we can consider buying opportunities, aligning with the larger bullish trend. Key Levels to Watch: Sell Point : 106.34 Buy below : 105.77
Short
by Charts247TradingAcademy
XAUUSD next move. 2H timeframe analysis.Trading Idea: Sell Target 2604 with Pullback Opportunity Asset: XAUUSD Timeframe: 2H Current Price: 2633 Target: 2604 Technical Setup: The market is in a downtrend, with lower highs and lower lows. Price is heading toward key support at 2604, a strong historical level. Indicators show continued bearish momentum: RSI is near overbought, suggesting potential for a correction. MACD remains negative, signaling more downside. Price is below both the 50 EMA and 200 EMA, confirming the overall bearish trend. A move towards 2604 may trigger a temporary pullback, so watch for reversal signals (bullish candles or patterns) for potential long entries after hitting this zone. Fundamentals: The broader market sentiment is risk-off, with global concerns over weighing on risk assets. Any negative economic data or geopolitical risks could drive further bearish pressure.
OANDA:XAUUSDShort
by ForexBarbieReal
1
USDJPY: Technical buy opportunity on RSI fractal.USDJPY turned bearish on its 1D technical outlook (RSI = 41.175, MACD = -0.460, ADX = 31.807) as it crossed under its 1D MA50 and has failed to recover it this week. Yet, this is technically a buy opportunity in disguise as this is the exact same pattern that the price did on the March 24th 2023 Low. After the initial bullish wave start of the long term Channel Up, the price pulled back again and formed that low with the RSI at 37.000. This is the level it is right now as well. We expect the bullish wave to resume the uptrend like it did then. We are again targeting the 1.786 Fibonacci extension, only a bit lower on the R1 level (TP = 161.870). 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. ##
Long
by InvestingScope
Gold big sell coming trade now read the caption Tuesday’s US JOLTs Job Openings data indicated a stronger-than-expected labor market after rising to 7.744 million in the reported period. Data surpassed the expected 7.48M increase. The upbeat labor data from the US briefly lifted the US Dollar (USD) across the board, capping the Gold price rebound near $2,655. However, Gold buyers retained control as the Greenback failed to sustain the uptick. The data failed to alter the market’s expectations of a 25 basis points (bps) interest rate cut by the Fed later this month. Markets are currently pricing at a 73% probability of a Dec Fed rate reduction, the CME Group’s FedWatch Tool shows, more or less the same as a day ago
OANDA:XAUUSDShort
by Mrsam36
AUDJPY: Channel Up bottomed. Bullish.AUDJPY turned oversold on its 1D technical outlook (RSI = 30.123, MACD = -0.750, ADX = 46.331) as it touched the bottom of the Channel Up. Unlike the price's LL decline, the 4H RSI has formed a Channel Up from oversold range, which is the exact same formation it had after pricing the September 11th bottom. Consequently, we should be expecting the pair to bottom now and start the new bullish wave. The last one hit and even breached the R1 level and then pulled back to the 4H MA50. We are aiming for the same level (TP = 101.550). 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. ##
Long
by InvestingScope
EURUSD: Inverse Head and Shoulders buy signal.EURUSD is bearish on its 4H technical outlook (RSI = 38.974, MACD = 0.000, ADX = 37.510) as it continues to trade near the bottom of the long term Channel Down. At the same time its low made contact with the bottom of the Bearish Megaphone. Technically that formed the Head of an Inverse Head and Shoulders. The standard target for this pattern is the 2.0 Fibonacci extension. That is our target (TP = 1.08630). 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. ##
Long
by InvestingScope
Gold strong selling pressure big sell now read the caption However, the downside appears cushioned in Gold price amid sustained bets for a 25 basis points (bps) interest rate cut by the US Federal Reserve (Fed) this month. Markets price in about a 65% chance of a December Fed rate reduction, the CME Group’s FedWatch Tool showed early Monday. Markets also remain wary of the ongoing geopolitical tensions between Russia and Ukraine while digesting the insurgent activity by Jihadist-led rebels in the Syrian city of Aleppo on Friday night. This occurred after a rapid offensive launched
OANDA:XAUUSDShort
by Mrsam36