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BluetonaFX - EURUSD Trade IdeaHi Traders,   There is a long opportunity on the EURUSD 4H chart. The market recently closed out the falling price wedge and is indicating a possible retracement to the supply zone, as the market is likely to be oversold at this point. This is also supported by the market breaking and closing above our 20 EMA. There is an opportunity for a long entry near the 20 EMA and to exit towards the supply zone. The supply zone area is 1.07582–1.07691. Please do not forget to like, comment, and follow, as your support greatly helps. Thank you for your support. BluetonaFX 
Long
by BluetonaFX
2
EURUSDHello, everyone! I'd like to share my idea regarding EUR/USD for today. I want to highlight the excellent liquidity dynamics on both lower and higher timeframes. We are currently forming an order flow on the hourly timeframe around Asian highs, and we have seen a significant impulsive move with the clearing of imbalances from Frankfurt. The logical point for the end of the current movement can be considered a test/consolidation below 1.064. Currently, I'm strictly focused on the short side, and if anything changes, I will keep you updated.
Short
by yes_pls_max
AUDNZD: Your Trading Plan Explained 🇦🇺🇳🇿 One more instrument that we discussed on the today's live session is AUDNZD. The market is currently testing a confluence zone based on a rising trend line and a horizontal support. To buy the pair with a confirmation, wait for a bullish breakout of the resistance of a horizontal trading range on an hourly time frame. You need an hourly candle close above 1.0859 to confirm the violation. A bullish continuation will be anticipated to 1.0878 then. Alternatively, a bearish breakout of a trend line will be a strong bearish signal. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
4
BluetonaFX - USDJPY Potential Bull Flag PatternHi Traders! There is a potential bull flag forming on the 1D USDJPY chart. Our bullish outlook on the US dollar continues, and the potential bull flag here is supporting this. We are currently in the flag channel, and we are looking for a break to the upside of the channel. The important price level here to look out for is 146.564; this is August's high, and we must break this level to continue to the upside. A break with momentum above 146.564 and the psychological level of 150.00 will be in sight. That being said, though we are bullish, as always here at BluetonaFX, we do not get attached to a view and must be ready to adapt at all times. If 146.564 does not break, the potential bull flag will fail and the market will most likely pullback, so we will look for selling opportunities around this level. Please remember to like, comment, and follow, as your support greatly helps. Thank you for your support. BluetonaFX 
by BluetonaFX
7
BluetonaFX - GBPUSD Looking For New DirectionHi Traders! There is a potential rising wedge here on the GBPUSD chart; however, the market has been trading sideways for the past couple of days. Depending on its next direction, the market will either break the supply or demand zones. That being said, there is a bearish bias here due to the lack of upside momentum after the big price rejection spikes we had that led to the double bottom pattern. The upside reversal move failed to break the supply zone just below the 1.28000 area due to a lack of new buyers in the market. The bears look like they have control here, so we are looking for confirmation of this, which is a break below the support line of the rising wedge and then a potential break of the demand zone at the 1.26900 area. Please do not forget to like, comment, and follow, as your support greatly helps. Thank you for your support. BluetonaFX
by BluetonaFX
10
NZDCAD: Your Trading Plan For Today 🇳🇿🇨🇦 NZDCAD is testing a key daily structure support. The price already formed a doji candle on that, confirming a local weakness of sellers. To buy the pair with a confirmation, I would suggest waiting for a breakout of a neckline of a cup and handle pattern on 4H time frame. 4H candle close above 0.806 will confirm the violation. A bullish continuation will be expected to 0.809 / 0.811 levels. If the price sets a new lower low, the setup will become invalid. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
11
GBP/CAD Pair in Pullback Mode: Assessing Bullish OpportunitiesThe GBP/CAD pair is currently experiencing a pullback phase following a notable reversal at the 50% and 61.8% Fibonacci levels. This retracement suggests a temporary correction in the price movement. However, there is potential for a new bullish impulse to emerge, which could propel the price towards the 1.6900 level. If this bullish momentum continues, the pair may eventually approach the resistance level at 1.69200. Considering these factors, traders are actively seeking a long setup in this market. The pullback presents an opportunity to enter a long position, anticipating a continuation of the upward trend. Traders will closely monitor price action and key technical indicators to confirm the strength of the bullish bias and assess the likelihood of the price reaching the target level of 1.6900. It's important to exercise caution and employ appropriate risk management strategies while trading in order to navigate potential market fluctuations and optimize trade outcomes.
Long
by DAY_PROFITS
2
EUR/JPY Reaches Two-Week High on ECB-BoJ Policy DivergenceFor the second consecutive day, EUR/JPY has scaled higher, reaching a two-week high on Tuesday. The ongoing upward move is supported by the policy divergence between the European Central Bank (ECB) and the Bank of Japan (BoJ), favoring bullish sentiment. Traders are now eagerly awaiting the upcoming ECB decision and BoJ meeting before making fresh directional bets. During the early European session, the EUR/JPY cross continues its positive momentum, extending the steady climb witnessed in the previous day. The spot prices surge to over the 150.70-150.75 region, marking a two-week high. The upward trajectory of the EUR/JPY cross is driven by the increasing expectations of further policy tightening by the ECB. The shared currency benefits from this sentiment, with ECB President Christine Lagarde suggesting the likelihood of additional interest rate hikes. She stated that there is no clear evidence of a peak in underlying inflation, aligning with recent hawkish remarks from several ECB policymakers. Despite a decrease in the headline Eurozone CPI to 6.1% in May, these factors indicate that the central bank still has room to raise borrowing costs. In contrast, the BoJ is expected to maintain its dovish stance to support the economy and ensure the sustainability of recent positive signs. BoJ Governor Kazuo Ueda emphasized the need to continue with ultra-loose monetary policy until durable wage growth accompanies price increases. Additionally, BoJ Deputy Governor Masazumi Wakatabe recently expressed the overwhelming case for the continuation of ultra-easy monetary policy measures. These factors contribute to the boost in the EUR/JPY cross. However, concerns about a global economic slowdown and the possibility of Japanese authorities intervening to support the domestic currency could provide some support to the safe-haven JPY. Traders may exercise caution in placing aggressive bullish bets on the EUR/JPY cross and instead wait for the upcoming central bank events. The ECB decision on Thursday, followed by the BoJ meeting on Friday, pose significant risks. Nevertheless, considering the aforementioned fundamental backdrop, the path of least resistance for spot prices appears to be on the upside.
Long
by DAY_PROFITS
1
EUR/USD Slips as Investors Await US Jobs Report 1.06400 TargetEUR/USD slipped slightly lower after briefly touching the 1.0800 level on Thursday as investors adopted a cautious approach before the eagerly-awaited May jobs report from the US. This report carries significant weight as it has the potential to impact the market's assessment of the next interest rate decision by the Federal Reserve (Fed). The currency pair remains within a bearish channel, and our next target for EUR could be the support area around 1.06400. On Thursday, the financial markets continued to be influenced by dovish expectations surrounding the Fed, leading to downward pressure on US Treasury bond yields and the US Dollar (USD). The US Bureau of Labor Statistics revised the initial estimate of first-quarter Unit Labor Costs, lowering it from 6.3% to 4.2%. Additionally, Patrick Harker, President of the Philadelphia Federal Reserve Bank, reiterated his belief that it is time for the central bank to take a pause in its monetary policy. The forecast for Nonfarm Payrolls in May is an increase of 190,000, following the better-than-expected rise of 253,000 recorded in April. The Unemployment Rate is expected to rise slightly from 3.4% to 3.5%, while the annual wage inflation, measured by the change in Average Hourly Earnings, is anticipated to remain steady at 4.4%. According to the CME Group FedWatch Tool, the market currently assigns a 71.5% probability to the Fed maintaining the key rate at 5%-5.25% in June. This positioning suggests that if the labor market data confirms a pause in the Fed's tightening cycle at the upcoming meeting, the USD is likely to weaken further. To realize this scenario, a disappointing NFP figure at or below 150,000 and softer wage inflation data may be necessary. Conversely, if NFP shows a rise of 250,000 or more in May, investors could reconsider the possibility of another 25 basis points rate hike. In that case, the USD could strengthen, resulting in a bearish turn for EUR/USD. It is important to note that the Fed's blackout period will commence on Saturday, during which Fed policymakers may make statements to guide market expectations, potentially increasing volatility leading up to the weekend.
Short
by FOREXN1
13