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DXY in a critical area.. TVC:DXY - Is in a critical area now almost completing an ABCD rally. Why its so critical is that if it fails in this area then it will likely drop down to the 102.00 area. In turn this will likely give the Indices that one last push higher to complete patterns. If it starts rallying through the 104 level then we will likely see a run to the bigger upside pattern at 108-109 area which will give us a deeper correction in the Indices and likely GOLD. 🧐🧐 Big few days ahead.. 💰💰
TVC:DXYShort
by L_F
2
EUR/USD hit by weak Eurozone PMI dataThe EUR/USD got another reality check earlier today with the release of disappointing PMI data from the eurozone, suggesting that growth in Q2 may be lower than expected. Add to this the ongoing French election uncertainty and the rise of far-right parties across Europe, and the recent rise in oil prices, the short-term outlook continues to look bearish. As such, I wouldn't be surprise if the EUR/USD now establishes a new ceiling below the 1.07 handle, with the bears having defended prior broken support levels such as 1.0750 and 1.0790 successfully. The next potential support is the trend support at 1.0650, following by the prior low made in April around 1.06 handle. By Fawad Razaqzada, market analyst at FOREX.com
by FOREXcom
AUDCAD Sell/ShortAUDCAD looks like a good signal from here that has bounced off resistance, came back a bit, and seems to not be a strong higher low for AUDCAD. Our analysts and myself am calling a sell short here due to the fact this pair has repeated multiple patterns in the same way in the last few months and as well it has the best risk/reward ratio I have seen so worth the bet to make. Please follow the entry, SL, and TP. Please make sure to follow our page for more daily signals!
Short
by KingTraderFX
1
USDCAD: Detailed Support & Resistance Analysis 🇺🇸🇨🇦 Here is my latest structure analysis for USDCAD. Vertical Structures: Vertical Support 1: Rising trend line Horizontal Structures: Support 1: 1.3664 - 1.3682 area Support 2: 1.3590 - 1.3627 area Support 3: 1.3547 - 1.3570 area Support 4: 1.3420 - 1.34920 area Resistance 1: 1.3777 - 1.3804 area Resistance 2: 1.3828 - 1.3846 area Consider these structures for pullback/breakout trading. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
1
EURUSD - Key Area. Will the rally fail?OANDA:EURUSD Completed a small Gartley pattern on Friday, now we look for a rally to see if it's going to fail around the 1.0853-1.0880 area. There are bigger TF patterns that take it a lot lower with the first one down below 1.0600 and larger pattern below 1.0300. A move above 1.0950 could send it towards 1.1100 and even 1.1300. That's why this week is so critical to where we head next. I will post the weekly AI to see if we can find a CIT Window. Enjoy the week.
Short
by L_F
1
USD/CAD looks set to break higherPrice action may be choppy on the daily timeframe, but it remains in an uptrend none the less. Price action since the April high appears to be corrective, and support was found around a prior VAH (value area high) and 1.36 handle. The 1-hour chart shows strong bullish momentum from 1.36, and prices are now consolidating within a potential bull flag. The pattern projects an upside target around 1.3745, and the lows of the consolidation are holding above the weekly/monthly pivot and 10-day EMA. The bias is for prices to rise to at least 1.37 near the weekly R1 pivot and 1-day implied volatility band.
Long
by CityIndex
[EDU-Bite Sized Mini Series]All you need for Order types in FX Hello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Understanding the various order types in forex trading is essential for navigating the market efficiently and executing trades effectively. Here's a concise overview of some common order types: 1. Market Order: This order is executed immediately at the current market price. It is used when a trader wants to enter or exit a trade quickly. More of for Day Trading - A trader might use market orders to quickly enter and exit positions based on real-time news events or technical signals. Live example > A trader sees a positive European's news release and expects a quick upward move in the EUR/USD pair. They use a market order to buy EUR/USD at the current price of 1.1950, aiming to sell it later in the day at a higher price based on the expected market reaction. 2. Limit Order: A limit order allows traders to specify the price at which they want to enter or exit a trade. It's used to buy below the current market price or sell above it, ensuring entry or exit at a specific price level or better. For example for Swing Trading - A trader might place a buy limit order at a support level, expecting the price to bounce back up, or a sell limit order at a resistance level, expecting the price to fall. Live Example > A trader identifies strong support for USD/JPY at 110.50 and places a buy limit order at this price, expecting the price to rebound. When the market price dips to 110.50, the order is executed, and the trader aims to sell at 111.50. 3. Stop Order(Stop-Loss Order): A stop order becomes a market order once a specified price level is reached. It's commonly used to limit losses or protect profits by triggering a trade when the market moves in a certain direction. This, in my opinion should be used as Risk Management for all traders - A trader sets a stop-loss order below the entry price for a long position or above the entry price for a short position to limit potential losses if the market moves against their position. Live Example > A trader buys GBP/USD at 1.3500, anticipating a rise. To protect against unexpected drops, they place a stop-loss order at 1.3450. If the price falls to 1.3450, the order executes, limiting the trader's loss to 50 pips. 4. Stop-Limit Order: A stop-limit order combines features of both stop and limit orders. It triggers a limit order to buy or sell at a specified price once the stop price is reached, offering more control over entry and exit prices. More of for Advanced Trading - A trader might use a stop-limit order to ensure they enter a position only if the price reaches a certain level but still want to control the maximum price they are willing to pay. Live Example: A trader wants to buy EUR/GBP only if it breaks above 0.8500 but not pay more than 0.8520. They place a stop-limit order with a stop price of 0.8500 and a limit price of 0.8520. If the price hits 0.8500, the order becomes a limit order, executing only if the price is 0.8520 or lower. 5. Trailing Stop Order: A trailing stop order is a dynamic stop-loss order that adjusts automatically as the market price moves in the trader's favor. It helps lock in profits while allowing for potential further gains. For Trend Following - A trader might use a trailing stop order to lock in profits as the price moves in their favor, allowing the stop price to trail the market price and protect gains if the market reverses. A trader buys USD/CAD at 1.3000 and sets a trailing stop order with a 50-pip trail. As the price rises to 1.3100, the trailing stop adjusts to 1.3050. If the price then falls to 1.3050, the order executes, locking in a 50-pip profit. Hopefully these explanations on the various Trading Orders open you up to more strategies that you can applied in the market for you to trade more efficiently and profitably! Do check out my recorded video (in trading ideas) for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. *********************************************************************
Education
by Shadowing_The_Big_Boys