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Sellers continue to lead the trend - GOLDHello dear traders! Let's discuss and strategize today! Gold price today is trading at 2,380 USD/ounce, down slightly by 10 USD compared to yesterday's opening price of 2,390 USD/ounce. Accordingly, the recent recovery of the USD has put pressure on the yellow metal. Specifically, the US Dollar Index rose about 0.3% to its highest level in more than 2 weeks, making gold more expensive for holders of other currencies. In addition to the recovery of the greenback, data from China shows that gold consumption in the world's largest gold consuming country has decreased, also affecting the direction of gold. The factor, gold's decline is even more closely identified when it has moved below the two EMA lines with a reversal from the EMA 34. In addition to the price channel factor, it is operating stably and has not had any fluctuations. broke down so the sellers continued to benefit. Given the current situation, if the Bulls are ready to fight at the short-term support zone at 2375, the next target will be $2400 and even $2410, but it may not last long with the target higher profits. Because "there is evidence that once resistance is reached, it will continue its downward movement, as indicated by the unchanged EMA".
OANDA:XAUUSDShort
by UnknownUnicorn80249399
8
Gold continues its downtrendHello wonderful new friends to Karina. What do you think about gold's next trend? Discuss and strategize carefully today and make the trade! Gold (XAUUSD) opened the trading session on Monday (July 29) rising to 2402. But! quickly retreated and reached 2387 USD, forming a short-term resistance peak at 2400 USD. At the time of writing, the price is trading at -2392 USD. In case if the price remains below 2408 USD then the selling target will be strong and the target is 2370 USD. If you have any questions, you can write them in the comments section below and Karina will answer them.
OANDA:XAUUSDShort
by UnknownUnicorn80249399
3
BANKNIFTY : Trading Levels and Plan for 09-Jul-2024 On 08-Jul-2024, the NiftyBank Index exhibited a consolidation pattern with a slight bullish inclination towards the closing hours. Key levels were established, including a strong resistance zone around 53,521 and a significant support zone around 52,126. The market showed signs of indecision, indicating potential volatility for the upcoming session. Trading Plan for 09-Jul-2024: Gap Up Opening (200+ points above 52,492): If the market opens above 52,692, observe the price action near the opening resistance at 52,859. A rejection from this level could signal a shorting opportunity targeting 52,492, with a stop-loss above 52,900. If the price sustains above 52,900, look for buying opportunities targeting the resistance for a new high at 53,049, with a stop-loss below 52,800. In case of a strong bullish momentum, trailing stop-losses can be placed as the price approaches the profit booking zone at 53,521. Flat Opening (near 52,492): Monitor the opening price action around 52,492. If the price breaks below 52,470, look for shorting opportunities towards the buyers' support at 52,126, with a stop-loss above 52,520. Conversely, if the price shows strength and moves above 52,520, consider long positions targeting the opening resistance at 52,859, with a stop-loss below 52,470. Gap Down Opening (200+ points below 52,492): If the market opens below 52,292, closely watch the price action around the buyers' support at 52,126. A bounce from this level can be used for long positions targeting 52,492, with a stop-loss below 52,030. If the price fails to hold above 52,126 and moves towards 52,030, consider shorting opportunities towards the best buy zone at 51,681, with a stop-loss above 52,200. Summary and Conclusion: The Nifty Bank Index is poised for potential volatility on 09-Jul-2024, given the consolidation pattern observed on 08-Jul-2024. Key levels to watch include 52,859 on the upside and 52,126 on the downside. Trading opportunities exist for both bullish and bearish scenarios, with appropriate stop-losses to manage risk. Be prepared for quick market moves and adjust your strategy accordingly based on the price action at critical levels. Disclaimer: I am not a SEBI registered analyst. This analysis is for educational purposes only and should not be construed as trading advice. Always do your own research before making any trading decisions. HAPPY TRADING
NSE:BANKNIFTYShort
by LiveTradingBox
USDJPY: The Buyer still holds controlThe USD/JPY exchange rate has shown an upward trend after breaking above the 159.00 level, sparking concerns that the Japanese government or the Bank of Japan (BoJ) might intervene in the forex market. With the Relative Strength Index continuing to rise, the momentum is currently in favor of buyers. Should USD/JPY surpass the psychological barrier of 160.00, the next resistance level to watch would be the year-to-date high of 160.32. Further gains are anticipated beyond 160.50, targeting the 161.00 level.
Long
by HamedMarkets
1
Will USDJPY cause obstacles on the road to recovery?The Japanese Yen (JPY) extends its gains for the second consecutive session on Tuesday. The USD/JPY pair remains within touching distance of the 160.00 level that recently pushed Japanese authorities to spend billions of dollars in Yen-buying intervention, per Reuters. Japan’s Corporate Service Price Index (YoY) rose 2.5% in May, slowing from a 2.7% increase in April. Investors now look ahead to more domestic economic reports this week including Retail Sales, Unemployment data for May and Tokyo’s inflation figures for June. On the USD front, the revised US Gross Domestic Product (GDP) for the first quarter (Q1) is set to be released on Thursday, followed by the Personal Consumption Expenditure (PCE) Price Index on Friday. USD/JPY Technical Overview USD/JPY trades around 159.30 on Tuesday. Analyzing the daily chart shows a bullish bias, with the pair hovering near the upper boundary of an ascending channel pattern. The 14-day Relative Strength Index (RSI) is positioned above the 50 level, indicating upward momentum. Surpassing the upper threshold of the ascending channel pattern around 159.90 will reinforce the bullish sentiment, potentially driving the USD/JPY pair toward 160.32, the highest level since April and a major resistance point. On the downside, immediate support appears at the nine-day Exponential Moving Average (EMA) at 158.60. A breach below this level could intensify downward pressure on the USD/JPY pair, potentially driving it toward the lower boundary of the ascending channel around 155.60. A break below this level could push the pair to test the throwback support around 152.80. Long or Short? If you’re in the trade, which side are you on? Are you long the dollar-yen or short it? Let us know in the comments below!
by HamedMarkets
Gold price edges lower amid cautious Fed rhetoricGold prices (XAU/USD) traded in positive territory on Tuesday despite a weaker greenback. A stronger-than-expected US purchasing managers index (PMI) released last week prompted Federal Reserve (Fed) officials to push back the timing of their first interest rate cut this year. , this continues to limit gold's upward momentum. However, safe-haven flows due to geopolitical tensions in the Middle East and Ukraine could boost the yellow metal in the near term. Investors will take more cues from speeches by Fed members on Tuesday, with Lisa Cook and Michelle Bowman expected to speak. The key US economic data to watch closely this week will be the final figures on US Gross Domestic Product (GDP) for the first quarter (Q1) on Thursday and the Price Index Personal consumption expenditures (PCE) for May. on Friday. Any evidence of an easing inflation trend could boost expectations of a Fed rate cut by the end of 2024. This in turn could drag the Greenback lower and create a favorable wind for Gold priced in USD. XAU/USD Technical Overview The gold price trades on a softer note on the day. The precious metal has formed a descending trend channel since May 10 on the daily timeframe. However, the yellow metal keeps the bullish vibe above the key 89-day Exponential Moving Average (EMA). Still, further consolidation cannot be ruled out as the 14-day Relative Strength Index (RSI) hovers around the 50-midline, indicating a neutral level between bullish and bearish positions. The upper boundary of the descending trend channel at $2,350 will be the first stop for XAU/USD. A break above this level will pave the way to $2,387, a high of June 7. Further north, the next hurdle is seen at the all-time high of $2,450. On the other hand, a low of June 21 at $2,316 acts as an initial support level for the yellow metal. Any follow-through selling will see a drop to $2,285, a low of June 7. The key contention level to watch is the $2,255-$2,260 zone, portraying the 89-day EMA and the lower limit of the descending trend channel.
OANDA:XAUUSD
by HamedMarkets
Should EUR/USD be bought?Dear traders! EUR/USD edged up in a slight recovery after falling to 1.0670 last Friday. The new trading week is starting with risk appetite pushed higher, sending the US Dollar lower and strengthening the Euro as investors head into a relatively quiet Tuesday. In the near term and according to the 4-hour chart, risks are increasingly turning to the downside. EUR/USD develops above the EMA level, nonetheless maintaining a downtrend. EMA 34 and 89 also point south above current levels. Finally, technical indicators lost their upward strength after testing the midline and slowly turned south, in line with another leg to the downside. Support levels: 1.0710 1.0665 1.0620 Resistance: 1.0760 1.0810 1.0840
Long
by HamedMarkets
7
Should you buy gold while it remains stable above 2300 USD?Dear traders! Gold price today decreased slightly, trading around 2,326 USD, emphasizing a decrease of 10 USD. It is worth noting that gold weekdays will be less volatile until the end of this week's May US core personal consumption expenditures index report is released, if weaker data could increase The possibility that the US Federal Reserve (Fed) will soon cut interest rates in 2024 will support precious metals. On the contrary, higher-than-expected data will cause gold to fall deeper. Hamed's strategy of buying on dips is still appreciated as long as gold remains positive above the $2,300 support level. We can still look at buy orders up to the indicated levels. Notice these short-term areas on smaller timeframes: - Support level: 2316 USD, 2306 USD - Resistance level: 2335 USD, 2365 USD.
OANDA:XAUUSDLong
by HamedMarkets
7
Gold sellers target $2,300 again as the new week beginsDear traders! Gold prices are falling early Monday after seeing a sell-off of more than 1% on Friday. Gold traders are now looking forward to a series of speeches from US Federal Reserve policymakers later on Monday to signal the new policy and its impact on the USD. Despite the triangle breakout confirmed last Thursday, Gold prices were unable to extend the bullish breakout and returned to the ascending channel limit once again, resulting in a weekly close below the Midpoint. Simple Moving Average (EMA)34, currently at $2,325. Such a move has buoyed sellers. Furthermore, the Bear Cross confirmed last week, after the 34-day EMA crossed the 89-day EMA from above on a daily closing basis, remains a cause of concern for buyers.
OANDA:XAUUSDShort
by HamedMarkets
5
Gold prices are forecast to have little change in the weekHello traders. Let's discuss and strategize! Gold prices are forecast to stabilize this week when there is little important data released in the middle of the week. The most awaited information by the market is the core personal consumption expenditure index report (the US Federal Reserve's (Fed) preferred inflation measure) expected to be published at the end of the week. Weaker data could increase the likelihood that the Fed will cut interest rates in 2024, and that scenario would support the yellow metal. On the contrary, inflation "hotter" than expected will cause gold to fall deeper. Technically: gold is relatively stable around 2315 USD and forming short-term support, expected to correct wave 2 up according to DOW theory before the downtrend can return again.
OANDA:XAUUSDShort
by HamedMarkets
6
Gold prices still decreased again in the last day of the sessionHello everyone, yesterday the gold market dropped to its lowest level of the session. It was noted that at the time of writing, gold had decreased by more than 38 USD (equivalent to 1.62%) compared to the previous session and repeated the sharp decline like the last Friday of last week. Accordingly, from the technical picture, gold is starting to fall again in the parallel price channel. If the upper limit is still not broken, gold may fall more in the near future as long as the falling price channel remains stable. .
OANDA:XAUUSDShort
by HamedMarkets
3
ICT Long setup London session EURUSD👋Hello Traders, Our 🖥️ AI system detected that there is an H1 or higher timeframe ICT Long setup in EURUSD for session trade (a couple of hours) Weekly chart is in down trend!! So that you couid wait for a reversal to downside as a Swing Short trade after this upward pulse alternatively! Please refer to the details Stop loss, FVG(Buy Zone),open for take profit. For more ideas, you are welcome to visit our profile in tradingview. Have a good day! Please give this post a like if you like this kind of simple idea, your feedback will bring our signal to next better level, thanks for support!
Long
by ICT_Trader_SB
GBPUSD: Institutional Bearish Order Flow AnalysisGreetings Traders! Current Market Analysis: At present, GBPUSD is reacting to a strong institutional resistance point aligned with an M15 bearish order block. The strength of this order block is due to the inefficiency (liquidity void) preceding it. Additionally, this order block is in conjunction with an H4 breaker block, a significant institutional resistance level where smart money typically initiates new selling positions. Key Observations: Institutional Resistance: The M15 bearish order block, strengthened by the preceding liquidity void, has led to a downward price movement and a market structure shift. This shift indicates that the institutional order flow is now bearish. Price Action: Following the market structure shift, the price has respected the breaker block, suggesting further selling pressure and a continuation of the bearish order flow. Bearish Order Blocks as Resistance: Given the bearish order flow, we expect bearish order blocks to serve as effective resistance levels, guiding the price towards the downside. Trading Strategy: Premium and Discount Levels: We are currently operating within premium prices, making it logical to target discount arrays for profit booking. The focus is on selling at premium levels and aiming for discounted prices where we can realize profits. Target: The primary target in the discount price range is the discount bullish order block, which also features an inefficiency (liquidity void). This presents a suitable draw on liquidity and an ideal profit-taking level. Conclusion: By understanding the current institutional order flow and leveraging key resistance and support levels, we can effectively anticipate and execute bearish trades on GBPUSD. The confluence of the M15 bearish order block, H4 breaker block, and liquidity voids strengthens our bearish outlook and guides our trading strategy towards targeting discounted arrays. Happy Trading, The_Architect
Short
by The_Archi-tect
GBPUSD: Bearish Intraday Trade OpportunityGreetings Traders! Current Market Analysis: At the moment, GBPUSD is exhibiting a clear bearish institutional order flow. Our primary focus is to identify selling opportunities that align with this narrative. Here’s how we plan to approach the market today: Key Observations: Institutional Order Flow: We are entirely bearish, so our strategy is to find sell opportunities in premium price zones and aim to book profits at further discounted prices. Premium and Discount Tool: Utilizing this tool, we have identified a premium array, specifically the M15 bearish order block, as our point of interest (POI). This is where we will be looking to initiate a sell trade. Trading Strategy: Entry Point: I will wait for the price to reach the identified M15 bearish order block. This POI represents a premium price level where we anticipate a strong selling opportunity. Target: The primary target is the daily fair value gap. This is where we aim to book our profits, capitalizing on the bearish momentum. Contingency Plan: Reactive Trading: If the price does not reach the POI, I will adapt to the market's movements and make decisions based on the unfolding price action. Invalidation Level: If the price breaks above the 1.26928 high, it may indicate a temporary shift in the internal structure to bullish. In this case, we will reassess our strategy accordingly. Happy Trading, The_Architect
Short
by The_Archi-tect
1