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EUR/USD Direction Unclear ECB Rate Hike Pace Divides InvestorsThe Euro currency is experiencing a lack of clear direction as investors hold conflicting opinions regarding the European Central Bank's (ECB) potential rate hike pace during its May monetary policy meeting. Some investors remain unconvinced that ECB President, Christine Lagarde, will reduce the pace of policy-tightening to 25 basis points (bps) during a time of critical Eurozone inflation. From a technical standpoint, the currency has undergone a second retest of the 50% Fibonacci level after experiencing a pullback to the 61.8% level. This pattern commonly reflects an AB=CD formation, leading to the creation of a new swing high. Today's market developments will be crucial in determining the Euro's direction, and our forecast predicts a long setup.
by FOREXN1
13
EUR/USD: Bigger Impulse Confirms Long Position on MaintrendIn accordance with our analysis from the preceding session, the EUR/USD currency pair has exhibited movement that aligns with our projections, demonstrating a significant impulse that corresponds with the established long-term trend and has resulted in the attainment of our initial take-profit target. Building upon this favorable outcome, we anticipate the potential for additional upward momentum, leading us to suggest a continuation of our long position in the direction of the main trend for the present day.
Long
by DAY_PROFITS
1
GBP/USD: Favorable Long Position on Upward MomentumIn accordance with our analysis from the previous session, the GBP/USD currency pair has exhibited movement consistent with our predictions, having achieved the initial level of take-profit. Moreover, the pair appears to be demonstrating rapid upward momentum, reinforcing our notion of a further sustained bullish trend. As such, our present recommendation is to consider initiating a new long position in GBP/USD in anticipation of continued price appreciation.
by DAY_PROFITS
1
Don't miss out on the GBP/JPY Bull runYesterday, we discussed how the GBP/JPY had recently experienced a bullish rally, but had been in a consolidation phase for the past two days. During this period, the price appeared to be forming a reversal head and shoulders pattern, which caused some concern among traders. However, the pattern was invalidated when the price broke through the local resistance, leading to the formation of a bullish flag continuation pattern. As of today, the price is pushing higher in the long direction setup that we had anticipated. We are currently on the lookout for a long setup, which we believe will present a profitable opportunity for our trading strategy. It is worth noting that the bullish flag continuation pattern suggests that the price may continue to rise, so we will be monitoring the situation closely and adjusting our strategy accordingly. Overall, we remain optimistic about the prospects for the GBP/JPY and are excited to see how the market will evolve in the coming days and weeks.
Long
by FOREXN1
4
Dollar vs Yuan Divergence US Dollar vs Yuan or US Dollar vs Offshore Yuan, technically they are establishing divergence. Above chart is my projection in time to come. When Dollar vs Yuan moves lower, this means we are seeing a weaker Dollar and a stronger Yuan. See the following link for its video version. The Chinese yuan, also known as RMB, is the official currency of China. It is used both onshore in mainland China and offshore in international markets. The offshore yuan, also known as the CNH (Chinese yuan - Hong Kong), is the version of the yuan that is traded outside of mainland China. It is traded in offshore financial centers, such as Hong Kong, Singapore, and London. The offshore yuan is not subject to the same restrictions and regulations as the onshore yuan. The main difference between the onshore and offshore yuan is that the onshore yuan is subject to capital controls imposed by the Chinese government, while the offshore yuan is not subject to these same restrictions. This means that the offshore yuan is more freely tradable and can be used for a wider range of international transactions, such as international trade and investment, while the onshore yuan is more restricted in its use. Offshore Yuan - Standard-Size USD/Offshore RMB (CNH) Outright: 0.0001 per USD increment = 10 CNH MICRO USD/CNH FUTURES 0.0001 offshore Chinese renminbi per USD CNH Option Google search: USD/CNH Monthly Options Contract Specs - CME Group Google search Frequently Asked Questions: USD/CNH options - CME Group Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
CME:CNH1!Short
by konhow
2
Bullish Trend Continues for GBP/USD PairThe GBP/USD pair is currently in an uptrend and has been continuing its rally despite experiencing a pullback at the previous 61.8% Fibonacci level. We have observed that the price has rebounded in this area, and our forecast remains bullish as we anticipate a new and fresh impulse to push the price towards the upside of the chart. To elaborate further, it seems that the currency pair is gaining momentum, and traders can expect a positive trend to emerge. Based on the technical analysis, we can anticipate a steady rise in the GBP/USD price, which may be fueled by a range of economic factors, such as strong market sentiment and a robust global economy. Therefore, we advise traders to stay vigilant and keep a close eye on the market as it evolves. The current trend suggests that the GBP/USD pair has a potential for further growth, and investors should capitalize on this opportunity. In conclusion, the GBP/USD pair is showing signs of strength, and the market outlook remains positive. We recommend traders to exercise caution, but at the same time, take advantage of the prevailing bullish trend.
Long
by DAY_PROFITS
1
EUR/USD in Correction Mode: Potential Pullback Ahead.The EUR/USD currency pair has witnessed a decline in its value and subsequently bounced back from the 1.0975 region. Over the past week, the EUR/USD has been retreating from its recent highs in the proximity of 1.1100. This drop can be attributed to the correction in the upside movement of the dollar. As of now, the price movement of the EUR/USD is expected to continue to follow the dynamics of the dollar closely. It is also expected to be influenced by the diverging intentions of the Fed and ECB banks regarding potential interest rate changes. Despite the hawkish stance of the ECB, which supports further rate hikes, there seems to be a loss of momentum in economic fundamentals in the region, which contrasts this view. Our analysis suggests that the EUR/USD might experience a pullback in the 50%-61.8% Fibonacci area before setting up for a new long position. However, if the price falls below the 78.6% Fibonacci level, it could indicate a short entry opportunity.
by FOREXN1
12
GBP/JPY Faces Bearish Chart Formation with Mild Gains: AnalysisAt the start of the London trading session on Monday, GBP/JPY shows a slight increase in value, hovering around 166.50. However, the cross-currency pair is facing a challenge in maintaining its upward momentum over the past four days, as it is currently caught in a bearish chart pattern, known as the Head and Shoulders pattern. If the dynamic trendline of the pattern, referred to as the "Neckline," is broken, this could confirm a downside trend for the pair. However, if the price manages to rise above the level of the Right Shoulder, it may indicate a long setup.
by FOREXN1
5
EURJPY And Historical Market PricesEURJPY is a clear example of when it is a good idea to check back for old PA levels. This is because the price has rallied and becomes more extreme. The more extreme price gets the older the PA levels that are relevant become because they have not been hit for a while. As the EUR gains VS the JPY this becomes the case. You can see to the LEFT handside of the chart denoted PA levels (where traders have created rejection) That forms the Bias for new moves. Any Qs ask.
by WillSebastian
3
USD/JPY Bears Eye Downward Trend as US Dollar Faces PressureThe current market for USD/JPY is dominated by the bears, who are eagerly anticipating a continuation of the downward trend. At this crucial moment, the trendline support is highly vulnerable. As Tokyo traders enter the market on Friday, the price of USD/JPY remains stagnant, resting below a significant resistance area near 132.70 on the 4-hour charts. The US Dollar is facing pressure, mainly due to the week's data that has led to the belief that the Federal Reserve will pause in its tightening policy campaign, with just one last rate hike scheduled for May. The primary focus of the market has been on the inflation data, with the Consumer Price Index (CPI) showing a year-on-year decrease from 6% in February to 5% in March. Furthermore, the Producer Price Index (PPI) for final demand, which was released on Thursday, also indicated a continued decrease in inflationary pressures, with a 0.5% drop last month. Over the twelve months leading to March, the PPI increased 2.7%, representing the smallest year-on-year rise since January 2021, following a 4.9% increase in February. In the event that the price breaks out of the dynamic trendline, we can expect to see a further pushdown in the price, moving in a downward direction.
by FOREXN1
7
For Those Asking About Buying GBP..Hey Guys, Some have asked me about buying the GBPUSD FX pair. We just had CPI data falling inline with expectations that did not enormously shift GBP upwards or to the downside. Nonetheless our bias remains higher for shorts. WHY? Because that is where Key Risk Averse PA zones exist (larger money short zones). This coincides with the fact you have risen on the GBP for a long amount of time now as a retracement. Within these retracements you will inevitably get rebounds of price as sellers RE move into the market within the upmove. So having said that we are not looking to buy LATE. the train has gone and we need to just wait at the stop again. Buying high is never a good idea. This is an issue. That's because if you are buying it you are buying it WAY after it's been bought (and it's no longer cheap)... If you keep doing that you will statistically be unprofitable (and naturally). Buy dips, sells rips.
by WillSebastian