AUDUSD D1 - Long SignalAUDUSD D1
We are on the big daily timeframe here for AUDUSD, breaking the previous resistance price level of 0.67. This was a considerable daily resistance price for us. We are now simply looking for a subsequent retest of this zone to see if we can find support on this price level.
If 0.67000 holds as support, we can likely look to position ourselves long with targets of the previous daily high price, nearing 0.68800 price. Circa 180 points.
Indices
DXY H8 - Bullish Signal DXY H8
Not a huge amount of movement during the trading sessions yesterday to start the week. We have seen some big, big moves across the likes of XAUUSD and US30, but not much in the FX space. Really hoping to see something pick up off this 105.000 support region.
We have drawn this horizontal black line to highlight this 105.000 handle, and what we would like to see to warrant bullish continuations.
The bearish play was instigated last week from the US cluster data, I think this week we shake it off and continue upside towards that 106.500 price.
US30 H4 | Rising into overlap resistanceUS30 is rising towards an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 39,570.20 which is an overlap resistance that aligns close to the 78.6% Fibonacci retracement level.
Stop loss is at 39,800.00 which is a level that sits above a pullback resistance.
Take profit is at 39,098.66 which is an overlap support.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
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Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
ASX looks set to retrace from resistanceThe ASX 200 cash market enjoyed its most bullish day in seven on Thursday. But like the SPI 200 futures contract, it met resistance before pausing.
The daily chart shows that a double top formed around the June 26 high and trend resistance. And as it's not unusual to see a market retrace against a strong move, and we have an NFP report looming which could suppress volatility, we're looking for prices to retrace lower against yesterday's rally.
Bears could target the 20-day EMA between the weekly and monthly pivot point, with a stop above yesterday's high.
S&P 500 Daily Chart Analysis For Week of July 5, 2024Technical Analysis and Outlook:
The Spooz has demonstrated resilience in the abbreviated trading week, achieving our long-anticipated Outer Index Rally 5560 target. The current price action suggests attaining the primary target of the Next Outer Index Rally at 5615. Nevertheless, the prospect of a rapid decline to the Mean Support level at 5515 cannot be discounted.
S&P 500 / Key Price Levels and Scenarios Amid NFP ImpactS&P 500 Analysis: Navigating Volatility with Key Price Levels and Scenarios Amid NFP Impact
The S&P 500 currently faces a significant supply zone between 5525 and 5550, having recently hit a new all-time high at 5550. Despite this, the broader outlook remains bullish, especially after stabilizing above the previous resistance level of 5525. However, the upcoming Non-Farm Payroll (NFP) report is poised to significantly impact the market.
Bullish Scenario:
To maintain the bullish momentum, the price needs to break through the supply zone and continue upward towards 5635. A 4-hour candle closing above 5550 would indicate a continued uptrend for the following week.
Bearish Scenario:
Conversely, if the price drops and stabilizes below 5525, it would signal a bearish trend, potentially leading to declines towards 5491 and 5460.
Key Levels:
Pivot Line: 5550 - 5525
Resistance Levels: 5590, 5620, 5645
Support Levels: 5491, 5460, 5440
Today's Expected Trading Range:
Today's trading range is anticipated to be between the resistance at 5635 and the support at 5460.
NFP Scenarios:
- Previous Result: 272K
- Expectation: 191K
If the NFP release is less than 191K, the indices are likely to follow a bullish scenario. Conversely, a result exceeding 191K, particularly around 250K, would likely lead to a bearish scenario.
In summary, the market's direction hinges on the NFP results and critical price levels. Monitoring these key levels and the NFP report will be crucial for navigating the S&P 500's volatility.
China A50 prints important swing lowThe China 50 row traced over 7% from a high to the June low. But a triple bottom formed at the 12,000 level, just above the 200 day average. A Bullish divergence also formed on the two-period RSI whilst the triple bottom formed.
On Tuesday we saw clear range expansion to the upside and a daily close above the 200 day exponential moving average. This suggests an important swing low has formed around 12,000.
On the hourly chart, a bullish divergent formed on the 14-period RSI. Resistance was met at the monthly pivot point and RSI became overbought on the daily and hourly chart, and prices now retracing lower. But with a significant low likely forming around 12,000, the prices to buy dips towards 12,100 and target 12,500 near the monthly R1 pivot point.
Bullish rise?DE40 has bounced off the pivot which has been identified as a pullback support and could potentially rise to the 1sr resistance.
Pivot: 18,044.34
1st Support: 17,951.32
1st Resistance: 18,271.05
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
FTSE 100 Inverted Cup-And-Handle Hints at Bearish BreakLike Germany's DAX that we highlighted earlier today, the UK's FTSE 100 is also on the verge of a bearish break down after a strong start to 2024.
The UK index has formed a clear inverted cup-and-handle pattern over the last 10 weeks. Akin to the "head" and "right shoulder" of a head-and-shoulders pattern, this setup shows fading buying pressure and a potential reversal of an established bullish trend if the neckline, in this case at 8110, gives way. In that scenario, the UK index could erase much of the Q2 gain and retreat toward the 200-day MA around 7800.
Germany's DAX Threatening Big Break Below Trend SupportGermany's DAX index has had a solid 2024 so far, but the shine may be coming off the bullish technicals as we head into the second half of the year.
After hitting a record high near 19K in May, the index has seen its gains stall out. Prices retreated to bullish trend line support in mid-June, and with bulls failing to drive a convincing bounce off that level, the DAX is now at risk of a bearish breakdown below that level of dynamic support. A breakdown could target the March/April closing lows in the 17.7K zone next.
GER30 H4 | Potential bullish reversalGER30 is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 18,050.68 which is a pullback support.
Stop loss is at 17,900.00 which is a level that lies underneath a multi-swing-low support and the 127.2% Fibonacci extension level.
Take profit is at 18,370.11 which is a pullback resistance that aligns with the 61.8% Fibonacci retracement level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
NAS100 H4 | Falling to pullback supportNAS100 is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 19,521.53 which is a pullback support.
Stop loss is at 19,333.00 which is a level that lies underneath the 38.2% Fibonacci retracement level.
Take profit is at 19,900.09 which is a pullback resistance level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
SPX500 H4 | Falling to pullback supportSPX500 is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 5,460.30 which is a pullback support that aligns with the 23.6% Fibonacci retracement level.
Stop loss is at 5,382.001 which is a level that lies underneath a pullback support and the 38.2% Fibonacci retracement level.
Take profit is at 5,532.83 which is a level that aligns with the all-time high.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Potential bullish rise?Dow Jones (US30) has just bounces off the pivot which has been identified as an overlap support and could rise to the 1st resistance.
Pivot: 39,006.6
1st Support: 38,641.5
1st Resistance: 39,556.5
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
S&P 500 Daily Chart Analysis For Week of June 28, 2024Technical Analysis and Outlook:
The Spooz has exhibited marked downward price action during this week's trading session, swiftly descending on the last trading day of the week from our designated Key Resistance level of 5488. It displays distinctive interim bearish price action characteristics, targeting Mean Support levels at 5449 and 5420. Anticipated renewed upward movement is expected from one of these specified price targets.
French stocks subdued ahead of electionsAhead of French elections on Sunday, European markets, led by France, underperform a tech-driven Wall Street. Here, the S&P 500 (+0.65%) has just hit a fresh record high, and was on course to end up for the fourth consecutive week. Month- and quarter-end flows in high-flying tech keeps US equities supported as we head to the second half of the year.
Meanwhile, French stocks remained under pressure ahead of the weekend, with the benchmark CAC testing its lowest levels since January at the time of writing. Investors are not taking any chances heading into the Sunday's snap elections.
But at current levels of around 7460, the index is at a major support. Let's see if dop-buyers re-emerge next week and drive the market higher. However, if the outcome of the elections reveal even more support for the far right wing RN party, then we could see a wobble at the open next week.
By Fawad Razaqzada, market analyst at FOREX.com
Bullish bounce off 50% Fibonacci support?Dow Jones (US30) is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance.
Pivot: 39,006.68
1st Support: 38,641.57
1st Resistance: 39,556.53
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
#US30 Best selling opportunityPrice seems to be completing the fifth wave of an ABC bullish corrective move, after which it is likely to move lower to complete its third wave in a higher degree.
The conjunction of the two bullish channels is an optimal price level to sell.
For those who are more risk-averse, they could wait for a bearish breakout of the short-term bullish channel.
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Nas100 Bullish Trade Idea Technical Analysis: NAS100
The market appears to be in a bullish reversal setup after finding support and potentially moving towards our supply zone.
If the price breaks above the equilibrium zone: It is likely to head towards the resistance levels marked by the Fib retracement levels.
If the price fails to break the equilibrium zone: It may retest to the 50% line on the fib at 19,655.8 before resuming the upward trend.