GBPUSD Long SignalTime Frame: Daily
Symbol: GBPUSD
Bias: Long
SIgnal Analysis:
The overall trend is down but we can expect a short term weekly move upward and have a high chance of accumulating some pips in upward reversal.
Freeforexsignals
EURUSD ShortTime Frame: Daily
Symbol: EURUSD
Bias: Short
Signal Analysis:
The overall trend is down and we are projecting a downward move too.
USD/JPY Signal - USD 7 Year Note Auction - 28 Sep 2021USDJPY has bearish divergence prior to the USD 7 Year note auction, which shows the yields on the US Government backed security. Technically the pair has been in a bull market, however the RSI is showing strong bearish divergence and the ADX has dropped showing the trend has lost steam. We anticipate a retracement into support.
AUD/USD Signal - AUD Retail Sales - 28 Sep 2021AUDUSD is ranging currently prior to the AUD Retail sales, which measures the receipts for retail stores in Australia. Technically the RSI is rejecting bullish levels, and range resistance holds. We anticipate downside into the 0.7220 level.
GBP/USD Signal - USD 3 Month Bill Auction - 27 Sep 2021GBPUSD is trading to the upside prior to the USD 3 Month bill auction, which reveals the yield on the bill. Technically the pair is trending to the upside and has broken bearish structure, and we anticipate continued pressure to the 1.3780 level.
CAD/JPY Signal - CAD Retail Sales - 23 Sep 2021USDCAD is trending to the downside prior to the CAD Retail Sales, which measure the total receipts for retail stores domestically. Technically the pair has pulled back into structure and fibonacci resistance, and the rsi has now turned negative. We anticipate downside into recent lows at 84.90.
AUD/USD Signal - USD Fed Rate Decision - 22 Sep 2021AUDUSD is trending to the downside prior to the Fed's rate decision later today, which decides the interest rate in the USA. Technically the [air is holding a downtrend, and has given a retracement prior to the Fed decision, giving us a trade opportunity. The RSI has rejected above the 50% level.
USD/CHF Signal - USD Fed Rate Decision - 22 Sep 2021USDCHF has traded into support prior to the US Fed Rate decision, which decides the rates in the USA. Technically the pair is at 61.8% fibo support and previous structure, and we anticipate a bounce from this level back into recent highs at the 0.9330 level. The RSI has given an overextended signal, and the bullish structure remains intact.
USD/CHF Signal - USD Redbook Index - 21 Sep 2021USDCHF is trending to the upside prior to the USD Redbook Index data, which is a sales weighted measurement of over 9000+ retail stores. Technically the pair has pulled back into structure and fibonacci support at the 0.382% level and we anticipate a bounce from here into recent highs.
Will Gold Spot Decline More? (TP 1682.6)Gold (XAUUSD) and silver (XAGUSD) has crashed in the previous week. Gold has lost -113.585 points ( -6.05% ), and silver lost -2.14315 ( -7.68% ). Millions of CFD's traders have lost money in that week.
Where's gold's bottom?
According to technical analysis and fundamentals research, gold can decline more. Gold has broken the strong support trendline (01) and marching for 02 . If it doesn't close above to trendline of 01 in the first two trading sessions, it will be unstoppable through high selling pressure by speculators. And we will see the target price 2.
Technically, the most popular indicators are indicating a complete downtrend. And Stoch RSI is signaling for a reversal. So, it can pullback up to a retracement level of 38.2% or 01 trendlines. If that not happen, gold can lose 81.635 points more.
In the previous week, gold and silver were falls due to economic events and high selling pressures by speculators. For advance traders, watch significant releases or events that may affect the movement of gold , silver & crude oil .
Tuesday, Jun 22, 2021
00:30 - FOMC Member Williams Speaks
01:00 - All CFTC Speculative net positions
11:00 - Gold Index
20:30 - FOMC Member Daly Speaks
23:30 - Fed Chair Powell Testifies
Wednesday, Jun 23, 2021
02:00 - API Weekly Crude Oil Stock
18:30 - FOMC Member Bowman Speaks
19:15 - Flash Manufacturing PMI | Flash Services PMI
20:00 - Crude Oil Inventories
20:30 - FOMC Member Bostic Speaks
Thursday, Jun 24, 2021
18:00 - Final GDP q/q | Initial Jobless Claims
Weekly outlook of Gold SpotIn June, XAUUSD and MCX Gold crash due to FOMC events. It has recovered almost 60% to 70% loss in the July month.
Gold spot needs to break 1809 levels to retest support of 1793.6 - 1783.6 . These support levels will push the gold price higher. Gold isn't sellable until the breakout of 1766 ( strong support ).
XAUUSD will touch 1858 - 1898 levels soon.
Watch significant releases or events that may affect the movement of gold, silver, crude oil, and natural gas:
Wednesday, Jul 21, 2021
02:00 API Weekly Crude Oil Stock - Medium Impact
20:00 Crude Oil Inventories - High Impact
20:00 Cushing Crude Oil Inventories - Medium Impact
Thursday, Jul 22, 2021
20:00 Natural Gas Storage - Low Impact
Part 2: What Drives Gold (XAUUSD) Prices?PREVIOUS:
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Weekly outlook of Gold Spot -
WHAT'S NEXT:
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Key levels: 1793.6 and 1783.6
According to my previous newsletter, my gold key levels will remain the same. It's not sellable until breakout the 1766 (strong support).
In XAUUSD, buying pressures are increasing. We may see 1812 - 1824 - 1836+ levels.
Alternatively, gold is taking a reversal from the first key level, so its upside rally may be weak. But, day traders can play between my range. And stop buying when it breaks the first key level. That could drag down the gold price directly at the second key level ( 1783.6 ).
And gold's closing price below 1783.6 means blast. It may hit the strong support level directly.
Please note, don't forget to watch significant releases or events mentioned above in the chart that may affect the movement of gold, silver, and crude oil.
FOMC Minutes: A confirmation for an explosive rally in XAUUSDGold has started collapsing nonstop after Nonfarm Payrolls data. And it stopped at my ' tested many times ' level. XAUUSD has recovered 50% almost in the previous week.
The gold spot needs to break the 1793.6 level to start an uptrend. Afterward, it will go for 1806 - 1826 levels. And these levels can push the gold price up to 1900 .
But if gold breaks the strong support again, it will start falling. This time, it won't stop! Hence, the short-term traders can start selling from there for the targets of 1744 - 1726 - 1684 .
For advance traders, watch significant releases or events that may affect the movement of gold, silver & crude oil. Especially, don't forget to watch this Wednesday's events to find out gold upcoming actions.
Tuesday, Aug 17, 2021
18:00 Core Retail Sales (MoM) (Jul) - High Impact
23:00 Fed Chair Powell Speaks - High Impact
Wednesday, Aug 18, 2021
02:00 API Weekly Crude Oil Stock - Medium Impact
20:00 Crude Oil Inventories - High Impact
23:30 FOMC Meeting Minutes - High Impact
Thursday, Aug 19, 2021
18:00 Initial Jobless Claims - High Impact
20:00 Natural Gas Storage - Low Impact
Friday, Aug 20, 2021
Baker Hughes US Oil Rig Count - Low Impact
MCX Gold Will Have An Explosive Rally This Wednesday:
MCX traders should keep their eyes on the 46720 levels. It's a trend changer.
As per XAUUSD, Indian MCX Gold can raise 47500 - 48260 after a breakout of $1793.6 . And if it breaks the strong support of Gold Spot, it will keep falling for targets of 46260 - 45860 .
USDCAD SHORTS TAKENEntered short positions on USDCAD looking for either a short term pullback from resistance or hopefully a longer term side ways move to test previous supportive areas.
EURUSD LONGS TAKENWell price may not make very fast moves this week I want to catch something rather then nothing. So remember overall bias is short but I want to catch the retracement while we wait for the larger moves.
Gold will come back to the $1800 level?On 16 July, gold has crashed over 60$ during the FOMC event. At that time, Commodity Futures Trading Commission (CFTC) data was highlighting selling pressure.
GOLD - COMMODITY EXCHANGE INC.
FUTURES ONLY POSITIONS AS OF 07/27/21
(CONTRACTS OF 100 TROY OUNCES) | OPEN INTEREST: 500,187
NON-COMMERCIAL & COMMERCIAL TOTAL
-----------------------------------------------------------------------
LONG 452,107 | SHORT 481,533
Ref: CFTC Gov
And on 27 July, CFTC data was said OI (Open Interest) of a gold future contract is 500,187 and total shorts 481,533 & buys 452,107 . But, gold prices increased.
We have to notice that the bullish rally wasn't powerful compare to the 16 July data. And selling pressure has higher compare to buyers. Hence gold has moved bearish side in the last trading session.
If gold wants to move upside, then it has to crossover my strong resistance. That will lead the gold's prices above 1840 - 1860 - 1882 - 1900 .
But if you focus fundamentally & CFTC data, XAUUSD will keep falling and touch the following targets: 1793.6 - 1783.6 - 1763.6 . Gold is making double top formation also.
GBPUSD UPDATE NEW SHORTSGBPUSD I have on my radar for shorts either short term but hopefully long term. Remember always secure profits and risk accordingly! Have a fantastic week!!!
AUD/USD Signal - USD Redbook Index - 20 Jul 2021AUDUSD is trending to the downside to start the week, prior to the USD Redbook Index, which is a sales weighted growth indicator. Technically the pair has broken key monthly levels, lies below the moving average ribbon, and a resistance trendline lies above. We are looking for continued downside to 0.7220.
GBP/USD Signal - 19 Jul 2021GBPUSD is trending to the downside today to start the week on the backfoot. Last week the USD finished strongest of the major currencies, and we are seeing that continued today. Technically the pair has broken the ascending trendline, and is below the moving average ribbon. We anticipate continued downside.
USD/CHF Signal - USD 3 Month Bill Auction - 19 Jun 2021USDCHF is trending to the upside currently, and the trend has made a pullback prior to the USD 3 Month Bill auction. The Bill Auction reveals the yield for the bill, and interest rate yields on USA government debt are a key indicator for global markets. Technically the pair has pulled back towards support, and we anticipate continued upside with the data release.
USD/JPY May Continue DeclineUSD/JPY has made a high of 111.66 and took a U-turn. Its impulsive wave breaks at support trendline breakout. It can keep falling from the dynamic resistance trendline ( DRT ). We may see 109.54 - 109.15 - 107.48 soon.
Don't sell after a breakout of DRT or 110.7 level. And do not forget to watch significant releases or events mentioned on the above chart that may affect the movement of USD/JPY.
Techanical Analysis of USD/JPYAccording to the 4H chart of USD/JPY, its uptrend can extend and touch the following target prices: 111.11 - 111.50
Invalidation: prices below ii or 50 MA.
GBPUSDGBPUSD TARGET 1.38500
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