Gold will find support @ 1924/1925 We will be buying at 1924/1925 to take gold back to 1939. Gold will then drop lower possible back to 1880s. OANDA:XAUUSD Gold is on a strong decline. This is an intraday trade.
Fundamental-analysis
$XAU - NATH's Ahead ? LONG opportunities incoming for Gold *W (tf) (wave 5)
Wave 4 completed ?
Long Confirmation is anticipated with the red trendline resistance breakout and CHoCH's on smaller time
frames.
Current support trendline support on green and 20EMA on *W
TA speaking, Gold is sitting at a very sweet spot until the uptrend is invalidated
- Looking ahead for New All Time Highs for Gold in the midst of this troubleshooting
frenzy Economic Enviroment
US's Debt Ceiling Crisis and governments not trusting any longer The US Dollar
in their balance sheets.
Did you know that through-out 2022 and the on-going of 2023 amongst many countries,
Russia and China, two Global Superpowers,
have been stacking Gold up as their
State Reserves in heavy amounts !
Do they know something we don't !?
TRADE SAFE !
*** Note that this is not Financial Advice !
Please do your own research and consult your own Financial Advisor
before partaking on any trading activity based alone in this idea
RISK MANAGEMENT As we wait for GBP CPI news later today and the BOE rate hike decision on thursday , its good to remind ourselves that one trade doesn't make us its a marathon not a race . The volatility associated with these fundamentals is always a double edged sword . STAY WOKE
BTC to 40k by 2024? Algo Alert's take from a qualitative POVIntroduction:
The world of cryptocurrencies has always been accompanied by speculation and predictions about their future prices. One popular model that has gained attention is the LGS2F (Limited Growth Stock-to-Flow) model, which presents a modified version of the original stock-to-flow model for predicting Bitcoin prices. In this blog, we will delve into the LGS2F model and its implications for Bitcoin price predictions.
Understanding the LGS2F Model:
The LGS2F model acknowledges the limitations of the original stock-to-flow model, which projected an infinite growth trajectory for Bitcoin prices. This new model takes a more conservative approach by incorporating the concept of limited growth. By doing so, it aims to provide more realistic predictions that align with the inherent characteristics of Bitcoin.
Limited Growth Concept:
The concept of limited growth implies that the price of Bitcoin will not skyrocket indefinitely but will experience more moderate growth over time. This idea reflects the understanding that as Bitcoin matures and gains wider adoption, its growth potential becomes constrained by various factors such as market saturation, regulatory influences, and competition from other cryptocurrencies.
Predictions for Bitcoin Price:
According to the LGS2F model, Bitcoin is projected to reach a price of around 40,000 USD by the end of 2024. This prediction suggests a more measured growth pattern compared to previous models, which envisioned exponential price increases. The modified model takes into account the increasing scarcity of Bitcoin as well as its growing acceptance in various industries and financial markets.
Factors Influencing the Predictions:
The LGS2F model considers several key factors that impact Bitcoin price predictions:
Stock-to-Flow Ratio: The stock-to-flow ratio is a measure of scarcity that compares the existing supply of Bitcoin (stock) to the newly generated supply (flow) each year. It plays a crucial role in the model's calculations and reflects Bitcoin's limited supply.
Market Dynamics: The model takes into account market dynamics, including investor sentiment, market cycles, macroeconomic conditions, and regulatory developments. These factors can influence the demand for Bitcoin and consequently affect its price.
Adoption and Integration: As Bitcoin gains wider adoption and integration into mainstream financial systems, its perceived value and utility increase. The LGS2F model considers the impact of adoption and integration on price predictions.
Conclusion:
The LGS2F model provides a modified approach to Bitcoin price predictions by incorporating the concept of limited growth. Its projection of Bitcoin reaching around 40,000 USD by the end of 2024 reflects a more conservative estimate compared to previous models. However, it's important to remember that cryptocurrency markets are inherently volatile and subject to numerous unpredictable factors.
As with any predictive model, it's crucial to approach Bitcoin price predictions with caution and consider them alongside other fundamental and technical analysis tools. The LGS2F model offers a fresh perspective that acknowledges the evolving nature of Bitcoin and provides a more realistic framework for understanding its future price movements.
read more about the Limited Growth Stock to Flow model: medium.com
USDCHF to 0.885 this week - you?For Day 33/100 of our challenge, we will dive into USDCHF downside risks for the week ahead:
Technicals:
- Overall downtrend
- Resistance created on previous support 0.91
- Break of 0.90 key level via bearish impulse
- Looking to enter on 0.90 retest / 62% fib
- Weekly target at 0.885
- Trade invalid if 0.905 breaks to the upside
Fundamentals:
🇺🇸 Rate markets not convinced of Fed's proposal of two more rate hikes. Failure to convince this week will weigh on USD
🇨🇭 Expected to raise rates by 25bp this week and remain with hawkish narrative. Other EZ central banks raising rates this week will also help CHF gain some strength potentially.
What's your take?
Like and follow for daily high-quality trade ideas!
SOL !DInterval ReviewHello everyone, I invite you to review the SOL chart in pair to USDT, as before, using a one-day interval. First, we will use the blue lines to mark the downtrend channel in which the price is currently moving.
Moving on, we can move on to marking support areas when we start a larger correction. And here the first one that currently holds the price is $13.34, then we have a second very strong support at $12.09, and then a third very strong support at $7.99.
Looking the other way, we see that the price has hit the first resistance at $16.19, if we manage to break above that resistance, then we have a second resistance at $18.22 and then a very strong resistance zone from $19.95 to $21.62, only when the price breaks it will move towards the resistance at $24.08.
Please look at the CHOP index, which indicates that we may see some major movement, the MACD is on the verge of returning to an uptrend, while the RSI has a slight increase, but we are still at the lower end of the range, which gives a lot of room for the price to go up.
ETH/USDT 1Dinterval Resistance and SupportHello everyone, I invite you to review the chart of ETH in pair to USDT, also on a one-day interval. Here, however, we will first mark the place of the current price, which remains on the EMA Cross 200 line, after the price dived, it quickly returned to the level of the EMA Cross 200, but for the moment it did not return to the uptrend above the line. Now, using the blue lines, we can mark the downtrend channel in which the price moves similarly to the previously presented BTC.
Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark the supports, and as you can see, we have the first very strong support at $1663, but if the price falls below our golden Fib point, then the second support is at $1529, and then we have the third very strong support at $1364.
Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we see that the price is fighting with the resistance at $1747, going further you can mark the zone where the price has been moving for a long time from $1820 to $1883, only when it breaks it will move towards the resistance at $1946, then the fourth resistance at $2035 $, and then a fifth resistance at $2145.
The CHOP index indicates that most of the energy has been used. The MACD indicator remains in a downtrend, while the RSI is moving in the lower part of the range, which can give a positive place for the upcoming price increase.
BTC 1D Intervval Review Hello everyone, I invite you to check the current situation on BTC in pair to USDT, taking into account the one-day interval. First, we will use the blue lines to mark the downtrend channel in which the BTC price is moving, what's more, we can see that we are in the upper part of the designated channel.
Now we can move on to marking the places of support in case of returning to the correction. And here the first significant support is at $25305 which held the price from falling further, however when the price goes lower, the second support is at $23926 at the so-called gold point of 0.618 FIB, then we have a third very strong support at $22017.
Looking the other way, in a similar way, using the fib retracement tool, we can determine the places of resistance. First, we will mark the resistance zone from $26,288 to $27,177 where the price is currently located, when we manage to break it, we have a second zone from $27,933 to $28,651. Once these two zones are broken we will move towards resistance at $29672 and then price will attempt to attack the resistance at $31014.
It is further worth mentioning that the price briefly fell below the EMA Cross 200, but very quickly returned above the moving average 200, which maintained a long-term uptrend.
Please pay attention to the CHOP index which indicates that we have a lot of energy for the upcoming move, the MACD indicator indicates the transition to an uptrend, while the RSI is moving around the middle of the range, which may indicate that the price will try to attack the upper border of the current resistance zone.
ADA/USDT ChartReviewHello everyone, I invite you to review the ADA chart in pair to USDT, on a one-day interval. First of all, we will use the blue lines to mark the uptrend channel from which the price has gone down and we are currently moving below the downtrend line. As we can see, the exit from the channel resulted in a decrease in price, similar to the size of the channel itself.
Moving on, we can move on to marking support areas when we start a larger correction. And here we see that the price is currently holding a strong support zone from $0.28 to $0.23, however, if the support does not hold the price, we can see the price drop quickly to the next support at $0.10.
Looking the other way, we see that the first resistance is at $0.31, when the price breaks it, the second resistance will be at $0.34, then we have a strong resistance zone from $0.37 to $0.40, only when price breaks it, it will move towards the resistance at $0.46 for it to continue rising.
Please look at the CHOP index, which indicates that we have touched the end of the range and now we can see the price turnaround, the MACD indicates that we are in a downtrend, while the RSI has a large rebound below the lower limit of the range, which in combination with the CHOP index can give room for growth prices.
BTC/USDT 4HInterval Analysis Hello everyone, I invite you to check the current situation on the BTC pair to USDT, taking into account the four-hour interval. First, we will use blue lines to mark the local downtrend channel in which the BTC price is moving.
Going further with the Fib Retracement tool, we will check where we can expect support for the price when the correction begins to deepen. And here we see that currently the price has held a strong support at $25307, however when the support is broken another very strong support is at the so-called fibon golden point of its 0.618FIB, equal to $23955, and then we can see the price return to around $22017 .
At this point, it's worth looking at the EMA Cross 200, and here you can see that the price fell below the moving average, which indicated the place of return to the downtrend. However, now it is worth watching if the red line of the ema cross 10 will cross the green line of the ema cross 30 from below, which may give an upward impulse and an attempt to break the ema cross 200.
Looking the other way, we can determine the places of resistance in a similar way. First there is resistance at $26,238, once it is broken, the next resistance is at $27,169, then the third strong resistance at $27,906, then the price will have to break the strong resistance zone from $28,657 to $29,708 to could go further up.
Please pay attention to the CHOP index, which indicates that we have a lot of room for further growth, the MACD indicator indicates entering a local uptrend, while the RSI shows a visible increase, but with room for the price to try to attack the first marked resistance.
Finally, we can see that the recent downward movements had a much larger volume, but it can be seen that the predominance of green candles with a slight increase in their volume is beginning to appear.
Daily Market Analysis - FRIDAY JUNE 16, 2023Market Analysis: S&P 500 and Nasdaq Reach 14-Month Highs, ECB Signals Rate Hike, BoJ Maintains Policy
Notable Events:
Japan - Bank of Japan (BoJ) Press Conference
Eurozone - Consumer Price Index (CPI) Year-on-Year (May)
USA - Michigan Consumer Sentiment (June)
USA - Federal Reserve's Waller Speaks
The S&P 500 and Nasdaq achieved their highest levels in 14 months on Thursday, driven by encouraging economic data that signaled the US Federal Reserve's approach towards concluding its aggressive campaign of interest rate hikes. This development brought great delight to investors, resulting in a significant surge in the stock market.
Furthermore, the release of several economic indicators indicating a decline in inflation played a role in lowering Treasury yields. This alleviated concerns surrounding potential future interest rate increases and significantly contributed to the exceptional performance of technology giants such as Apple (NASDAQ: AAPL) and Microsoft (NASDAQ: MSFT).
S&P500 and Nasdaq indices daily chart
Surprising Growth in US Retail Sales in May, While Jobless Claims Steady but Higher than Expected
During the month of May, an unexpected growth in US retail sales was observed, indicating a rise in consumer spending across various product categories, including vehicles. Additionally, data concerning jobless claims revealed that for the week ending June 10, the number of claims remained steady at 262,000. However, it is worth noting that this figure exceeded economists' predictions, which had anticipated 249,000 claims.
US Retail Sales
Decline in Import Prices in May, Fed Holds Interest Rates Steady with Hints of Future Increases, ECB Implements Rate Hike and Concludes Asset Purchase Program
In May, import prices experienced a notable decrease, marking the most significant annual decline in three years. This followed an earlier report in the week highlighting lower-than-expected inflation rates in April, further indicating a downward trend in pricing pressures.
On Wednesday, the Federal Reserve decided to maintain interest rates within the range of 5% to 5.25%, opting for no immediate changes. However, they provided hints that interest rates could potentially be raised by at least 0.5% later in the year due to persistent inflationary concerns.
In line with expectations, the European Central Bank (ECB) conducted its recent meeting, implementing a 25 basis point rate hike. Additionally, the ECB formally announced its decision to conclude reinvestments of assets purchased under the Asset Purchase Program (APP) starting in July. These measures signal the ECB's efforts to adjust monetary policy in response to economic conditions.
These developments in import prices, central bank actions, and policy decisions have implications for various sectors of the economy and financial markets. Market participants will closely monitor future inflation trends and central bank actions as they assess the potential impact on investment strategies and economic outlooks.
Euro Area interest rate
Revised Projections Show Higher Inflation, ECB Signals Possible Rate Hike in July
During the recent meeting, notable revisions were made to the staff projections, indicating an upward revision in both underlying and headline inflation throughout the forecast period. Of particular significance was the projection for 2025, with a substantial estimate of 2.2%, surpassing the ECB's target.
Christine Lagarde, the ECB President, conveyed a high likelihood of another rate hike taking place in July. However, she refrained from providing specific guidance regarding the future trajectory of interest rates beyond that point, emphasizing the concept of a known destination but an uncertain path.
EUR/USD daily chart
EUR/USD Surges Following ECB Meeting, Bullish Outlook as Rate Hike Probability Increases
In the aftermath of the ECB meeting, the EUR/USD currency pair experienced a significant surge, primarily driven by the increased implied probability of a rate hike in July. The probability rose from 50% to 80%, prompting a strong response in the market. As a result, the currency pair surpassed its 50-day moving average (DMA) and reached a level of 1.0950, indicating a remarkable increase of over 3% since the beginning of the month.
Looking ahead, the medium-term outlook for EUR/USD remains optimistic, largely influenced by the contrasting stances of the ECB and the Federal Reserve (Fed). With the ECB adopting a notably hawkish stance and the Fed signaling a gradual winding down of its efforts, market sentiment favors the euro.
The next target for a bullish movement in EUR/USD is set at 1.12, representing a significant milestone to watch for. As the probability of a July rate hike remains high and the divergence between the ECB and the Fed persists, investors will closely monitor the currency pair's movements in anticipation of further upward momentum.
Please note that financial markets are subject to volatility and can be influenced by various factors, so it is advisable to conduct thorough analysis and consider other market indicators when making trading decisions.
US Dollar Currency Index daily chart
US Dollar Weakens as Multiple Factors Impact its Performance
In contrast to the euro's strength, the US dollar has weakened and slipped below its 50-day moving average (DMA). This decline can be attributed to several factors that have negatively affected the currency's performance. Lackluster retail sales, an increase in jobless claims, a slowdown in industrial production, and the potential impact of a stronger euro following the ECB's upward revision of inflation forecasts have all contributed to the weakening of the US dollar.
Meanwhile, as widely anticipated, the Bank of Japan (BoJ) has announced the maintenance of its current yield curve control policy. This decision resulted in further depreciation of the yen, leading to USD/JPY trading at approximately 140.7 levels. The BoJ maintains its outlook for inflation to decelerate later in the year. The central bank remains committed to implementing monetary easing measures while remaining attentive to economic activity, price developments, and financial conditions. The upcoming press conference following the announcement will be closely monitored for any insights into the BoJ's perspective on the recent yen depreciation and its potential implications for inflation.
Given these developments, market participants will continue to monitor the performance of the US dollar and yen, considering various economic indicators and central bank actions, as they assess the potential impact on currency exchange rates and investment decisions.
USD/JPY daily chart
BoJ's Tightening Measures and Wage Figures to Determine Policy Direction
Japan's economic recovery has been gaining momentum, increasing the likelihood of tightening measures by the Bank of Japan (BoJ). The upcoming release of wage figures for May, in about three weeks, will be crucial in assessing broader wage pressures ahead of the next BoJ meeting scheduled for the end of the following month. Analysts anticipate a potential expansion of the tolerance range surrounding the 0% 10-year yield target at either the upcoming meeting or the one scheduled for September.
Michigan Consumer Sentiment Survey: A Key Indicator for the US
Today, one important economic indicator to monitor in the United States is the Michigan Consumer Sentiment Survey, which includes a component specifically focused on inflation expectations. This particular component is of significant interest to the Federal Reserve as it closely monitors inflation trends. In April, year-ahead inflation expectations surged to 4.6%, but they subsequently declined to 4.2% in May. The survey results will provide insights into consumers' expectations regarding inflation, which can influence the Fed's decision-making process.
Fed Board Member Christopher Waller's Speech on Financial Stability
At 13:45, Fed Board Member Christopher Waller is scheduled to deliver a speech in Oslo, addressing the topic of "financial stability and macroeconomic policy." Waller's insights and perspectives on these matters will be closely observed, as they can provide valuable insights into the Fed's approach and considerations related to financial stability and broader macroeconomic policies.
Euro Area Final Inflation Data: Gaining Further Insights
In the euro area, the final inflation data for May is expected to align closely with the preliminary figures, providing additional insights and details on the inflationary situation. These data points will offer a comprehensive picture of the inflationary pressures in the eurozone, enabling market participants to assess the implications for monetary policy and economic outlook in the region.
Market participants will closely monitor these events and data releases as they shape market sentiment and influence investment decisions. The outcomes and implications of these developments will be crucial in understanding the ongoing dynamics and policy directions in respective economies.
XAUUSD SELL OPPORTUNITYHello dear traders. Here my idea to XAUUSD . we will expect short term bearish continuation.
Traders, if you liked this idea or have your opinion on it, write in the comments. Please like and subscribe to my profile.
Good luck to you.
This idea does not provide the financial advice.
USDJPY to 142.200 this month is very likely... Do you think so?Hey Traders! 👋
For Day 31/100 of our challenge, we will look at USDJPY for upside potential this week/month
Technicals:
- Created a new high at 141.400 on break of 140.800
- Price retraced back to 140.200 to form support
- Also a pivot area and 62% fib retracement
- Looking to target 142.200
Fundamentals:
🇺🇸 Hawkish pause from Fed and a higher than expected forecast on peak rate causing investors to reassess their rate cut bets
🇯🇵 No changes in dovish policy stance today. Expect JPY to remain weak in the coming month unless any new catalysts says otherwise.
AUDUSD - Deep Pullback Before A Drop?Analysis:
To start off with this isn't our favourite setup. We don't have any added confluences which whilst aren't required for a trade to be valid in our opinion, they are still a nice thing to see and they provide more confidence. With that being said just because we don't have the these added confluences this setup is still valid and there are a few reasons why fundamentally. Firstly the technicals though. We're clearly able to tell that currently we are in a downwards trend. Price has made a pretty big move to the downside and we expect that this will continue. We're interested in shorting from this area however as at this level we have a key major level of resistance. We expect that this is where the bears will be sat at wanting to push price further down. Fundamentally the USD is the 2nd strongest major currency whereas the AUD is the 3rd weakest major currency so before we even look at any other fundamental data this is already going in our favour. Recently we saw a decrease of 14468 long positions by institutions on the AUD signalling to us that we might want to stay clear from going long on the AUD. Institutions have access to a lot more data then retail traders so if they are staying clear from buying the AUD then there is probably a good reason for this. Knowing this helps out our idea and is another reason on why we are short AUDUSD.
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all.
Stay Safe - JPI
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
NZDCHF - Continuation To The Downside!Analysis:
This setup to us is ideal. Firstly price is clearly in a downwards trend and there is no doubt about this. We've seen price create a series of lower lows and lower highs which confirms that we are in a downwards trend. Knowing this we are only looking for shorts on this pair. Where price is currently is a very interesting area to us. Why? This area has held as major support in the past and as support recently so we now expect that it will hold as resistance. If you've been trading long enough you'll know that very often support can turn to resistance and resistance can turn into support. For more confluence at this area we have the 50% fib retracement level which we expect sellers will be sat at waiting before pushing price down further. We've also got an downwards trendline which has been beautifully respected multiple time showing us the bullish pressure and momentum on this pair. Fundamentally as well we're pretty neutral. Both the NZD and the CHF have almost the same long to short ratio so there isn't any real bias here until we dig a little further and we can see that the NZD only really had an increase in short positions by institutions whereas the CHF has an increase in both long and short positions by institutions so we actually have a slight bias to the bullish side of the CHF which goes with our idea and wraps up why we are bearish on this pair.
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all.
Stay Safe - JPI
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
EURGBP to 0.85? Anyone else with me?Hey Traders! 👋
For Day 30/100 of our challenge, we will look at EURGBP for downside potential this week/month
Technicals:
- Overall downtrend
- Break below 0.858 support
- Support created at 0.0.854
- Expecting retest back to 0.858 for potential shorts
- Or a break and retest of 0.854
- Target is 0.85
- Invalid thesis when 0.861 is breached to the upside
Fundamentals
- Expecting less room for ECB to rate hikes; they will this month by 25bp but sound less hawkish
- Expecting GBP to be stronger given better domestic data and an aggressive peak rate pricing
That's all for today. Forecasts these week on TradingView has been awesome.
Follow and stay in touch 🥂
Short term hawkish sentiment bet on the euroFundamentals
EUR: Hawkish rhetoric from the ECB and rates pricing in a 95% chance of raising rates is an appropriate sentiment environment for the short-term long.
USD: Lower than expected inflation release yesterday can be a trigger for the euro surge in the short-term.
Technical & other
Setup: S(B)
Setup timeframe: 4h
Trigger: 1h
Medium-term: Down
Long-term: Range
Min. Target: MA(50)
*Get out if the position isn't in profit before the Fed rate decision. If it is, tighten the stops and consider holding through the decision.
DOT/USDT 1DInterval Resistance and SupportHello everyone, I invite you to review the DOT chart in pair to USDT, on a one-day interval. First, we will mark two places where the price tried to break out of the EMA Cross 200 line upwards, unfortunately, both attempts ended in failure.
Further, using the yellow line, we will mark the uptrend line from which the price broke out at the bottom, we are currently moving in the downtrend channel since the beginning of the last correction.
Moving on, we can move on to marking the support spots, as we can see a strong correction caused the price to drop down to a very strong support at $4.22, in a situation where the current support did not hold the price, we could see a strong drop to around $2.
Looking the other way, we see that the price has turned around and is heading towards the $5.07 to $5.61 resistance zone. If I manage to break the first zone, I will move towards the second stronger zone from $6.06 to $6.49 and then towards resistance at $7.13.
Please look at the CHOP index, which indicates that the energy has been used, the MACD indicates that despite the current increase, we are moving in a downward trend, while the RSI, after a strong rebound, we can observe the beginning of an increase.
NZDCAD - Oil Price On The Rise, Could Mean A Bullish CAD!Analysis:
Firstly just by looking at the charts we're able to tell that price is in a downwards trend. We've seen a series of lower lows and lower highs being formed confirming that we are in this downwards trend. We're now approaching a key level that has held as support and resistance multiple times so we expect this to happen again this time around. To add confluence to our area price is about to touch the 50% fib retracement level which we expect sellers to be sat at wanting and willing to enter into short positions pushing price down further. For more added confluence even though our trendline isn't at the area we're interested in it is still key as it shows that price is respecting this downwards trend that we're in, signifying that price is likely to hold the level we're at currently. Fundamentally the NZD is the 4th strongest major currency where as the CAD is the 2nd weakest major currency. This fundamentally really doesn't look good for our setup however if we dig a little deeper we'll see why we actually favour the CAD over the NZD. We have a speculation that oil prices will soon be on the rise again. Now why does this matter? Well Canada is the 4th largest oil distributer in the world meaning that the CAD is very often correlated to oil prices. If we see oil prices rise then so will the CAD. With our speculation on oil it starts to show early signs of a bullish CAD which is why we are bearish on NZDCAD both technically and fundamentally as well.
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all.
Stay Safe - JPI
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
BNB/USDT Is this the end of the current correction?Hello everyone, I invite you to review the BNB chart in pair to USDT, taking into account the one-day interval. As we can see, the price has broken out of the uptrend line. We also see that we moved the EMA Cross 200 for a while, however, after breaking this strong support, we received a strong drop in price, down to a very strong 0.786 Fib support at $222.8. Should the current support fail to hold the price, we will be able to see the price drop further around the $184.6 support.
Looking the other way, we can similarly identify the resistance points that the price has to face. And here we can see that we have now hit the first resistance at $248.8 which for now bnb has no strength to break through then we have the second resistance at $288.6 the next resistance at $322.1 then the fourth resistance very strong resistance at $354.3.
The CHOP index indicates that the energy has been used up and is slowly increasing, the MACD indicates a continuation of the downtrend, but with a visible flattening after the last decline, while the RSI recorded a strong rebound that definitely broke the lower limit of the range and now we see a return to this limit and a large scope for future price increases.
NZDUSD - Breakout Of A Range?Analysis:
From the charts we can clearly see that price was stuck in a range until recently where we saw a breakout to the downside signalling to us that there is downwards momentum. With this bias we're only looking for shorts on this pair. Price has since returned to our area of interested, giving us the opportunity to look for shorts from this area. Why this area? Well for added confluence we also have the 50% fib retracement level which has been tagged and which we expect to hold and for sellers to continue to push price down further. Our second added confluence that we have is the downwards trendline that is clearly present on the chart. We expect that this trendline will be respected meaning that price will head to the downside. When we look at the fundamentals these also go in our favour. The USD is stronger then the NZD with the USD being the 2nd strongest major currency compared to the NZD which is the 4th strongest major currency so this helps our idea. For more confidence in this setup the NZD had an increase in short positions meaning that more institutions are starting to short the NZD. Now institutions have access to a lot more data then we do so there must be a reason why they are starting to short the NZD whereas we actually see an increase in both long and short positions on the USD. Although this isn't a positive it also isn't a negative as there are still institutions entering long positions on the USD. With all of the data we have access to and taking a look at the technicals and the fundamentals we are bearish on this pair!
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all.
Stay Safe - JPI
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
EURAUD I Potential move higher with Employment Change ReportWelcome back! Let me know your thoughts in the comments!
** EURAUD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support!
EURUSD FED VS ECB RATE DECISIONFED VS ECB Eur is still Bullish
TECHNICALLY, EUR has a good BUY SET UP having price lying on June candle major support.
This implies that EUR bull momentum has riped technically.
Today's FED is likely not have much impact because it's certain that ECB will add interest rate tomorrow. So lets expect hike in EUR price tomorrow. Position your self at tomorrow candle's opening price.
this is my personal ideas, So do your own analysis for proper confirmation
