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EURUSD H4 4 March 2024EUR/USD, H4 The EUR/USD pair has discovered a support base around 1.0800 levels, initiating a rebound and making strides to surpass its prior high. The surge is predominantly attributed to the dollar's depreciation, prompted by lacklustre U.S. PMI readings that led investors to shed dollar positions. Attention is now firmly fixed on the European Central Bank's (ECB) upcoming interest rate decision scheduled for this Thursday, with market expectations leaning toward the maintenance of unchanged interest rates. EUR/USD is supported at above 1.0800 and recorded a rebound, suggesting the buying power is gaining. Suggests a neutral signal for the pair. Resistance level: 1.0865, 1.0954 Support level: 1.0775, 1.0770
by top_fx
GBPUSD H4 4 March 2024GBP/USD, H4 GBP/USD staged a rebound from support levels amid a weakening US Dollar, triggered by disappointing ISM Manufacturing PMI data. Despite recent economic challenges, certain Fed members maintain a hawkish stance. San Francisco Fed President Mary Daly cautions against hasty rate cuts, emphasising potential risks to economic performance. Concurrently, Cleveland Fed President Loretta Mester dismisses expectations of a prolonged disinflation trend from the previous year, reinforcing confidence in the ongoing positive trajectory of the US economy and indicating a reluctance to implement earlier interest rate cuts. GBP/USD is trading higher following the prior rebound from the support level. Suggesting the pair might extend its gains since the RSI stays above the midline. Resistance level:1.2710, 1.2785 Support level: 1.2635, 1.2530
Long
by top_fx
GBPUSD H4 1 March 2024GBP/USD, H4 The GBP/USD currency pair has wiped out all the gains it made from the previous session's rebound, indicating that it is currently exhibiting bearish momentum. The U.S. Personal Consumption Expenditures (PCE) index, meeting market expectations at 2.4%, signals that inflation remains persistent in the country. Concurrently, the broader market sentiment has shifted to largely discount the possibility of a rate hike in June, which has subsequently bolstered the strength of the dollar. Furthermore, traders are closely watching the release of the UK's Manufacturing Purchasing Managers' Index (PMI) due today, as it is anticipated to provide insights into the Sterling's economic strength and potentially influence the currency pair's movement. The GBP/USD pair declined and erased all its previous gain, suggesting a bearish bias for the pair. The RSI is gradually moving lower while the MACD is on the brink of breaking below the zero line, suggesting the pair is trading with bearish momentum. Resistance level:1.2635, 1.2710 Support level: 1.2530, 1.2437
Short
by top_fx
NZDCAD: Your Trading Plan For Today 🇳🇿🇨🇦 NZDCAD is currently approaching a peculiar zone based on a key horizontal support and a solid rising trend line on a daily. Your confirmation to buy will on an hourly time frame. 0.8285 is the neckline of a double bottom formation. We will need an hourly candle close above that to confirm the strength of bulls. We can buy the pair then anticipating a bullish movement at least to 0.831 ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
1
24-01-30 update AUDUSD Long Entry: Trade Management 24-01-30 update AUDUSD Long Entry Entry Price: 0.65700 Stop Loss Price : 0.65300 / 40 Pips Take Profit: 0.66300 / 60 Pips Risk To Reward : 1 for 1.5 Trade Grade: b + -Tagged into trade at same price levels above * Trade Management* A. Risk entry (pending order) B. Take Profit at levels above B2: I might scale the risk off if the market trends in the direction of the trade. Cut losses quickly and let the winners ride is a big part of my trading style If anyone wants to know when I reduce risk please message me
Long
by Trader_Miles
EURUSD Short Trade 24-01-29: Trade Signal EURUSD Short Trade 24-01-29 *Trade Price Levels* 1. Risk Entry (Pending Order) Pending Order Price : 1.08700 Stop Loss Price : 1.09100 Take Profit : 1.08100 Risk to Reward Potential -1 units of risk for 1.5 units of gain -Note: Needs a win rate or 41% or above to be a profitable trader -Will Track Feb Signal Win Rate A. Will track risk entry win rate and confirmation entry model win rate B. Based on data that will determine risk profile for Prop Firm Funding (More Aggressive Risk Profile) Cons For Trade A. Price is in the discount of the swing range (should sell from premium and long from discount) B. Price could use the demand zone from the daily to drive (hawkish) Price through zone above making higher highs and lower lows C. Price broke key price level of 1.0800 (more neutral) Pros A. Double zone supply zone coverage with stop loss being big enough to let the trade breathe a bit B. The first Mitigation of a zone often fails leading to price moving up and then going deeping (bearish) towards the strong swing structure below C. The overall trend is more bearish than bullish Fundamental Drivers A. Price Broke 7 week low of 1.0800 B. Central Bank rates remained unchanged C. President Lagarde is more dovish than hawkish
Short
by Trader_Miles
2