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GBPUSD → The correction is coming to an end. Next is 1.310? FX:GBPUSD is in a correction phase testing the liquidity area as well as a strong support level from D1. The correction is news related, but something happened over the weekend that could put selling pressure on the dollar. Technically GBPUSD is bullish, as evidenced by the update of the highs and the counter-trend correction to the liquidity area. Yesterday, Biden announced that he was withdrawing from the presidential race, fielding Kamala Harris in his place. Trump's odds are rising in this case, and he has previously hinted that he wants a weaker dollar. Against this background, the DXY may continue its bearish course, which may generally favor the forex market. Technically, 1.28940 is worth paying attention to. A false breakdown could trigger further growth. But, if the bulls will not let the price to this zone, it will be enough to wait for the price to consolidate above 1.294. Resistance levels: 1.294, 1.297 Support levels: 1.2894, 1.286 Technically the market is bullish, fundamentally everything is good. Most likely, interested buyers are still in the market, so the pressure for further growth may continue Rate, share your opinion and questions, let's discuss what's going on with ★ GBPUSD ;) Regards R. Linda!
Long
by RLinda
19
USDCHF → A retest of trend resistance. Probable rebound FX:USDCHF strengthened as the Swiss franc went into correction due to the actions of the central bank, which is trying to protect the currency from excessive strengthening. Technically, the dollar is in the phase of correction, which may stop in the near future and the index may go back to the strengthening phase, but against this background the Swiss franc growth looks stronger, as this currency is considered as a hedge asset, which just in the crisis times was used by investors. Technically, as long as the structure of the downtrend is not broken and a false break of resistance is formed, I would consider a bounce from the upper boundary of the channel to the zone of interest at 0.8885. Resistance levels: 0.9010, 0.9050 Support levels: 0.892, 0.885 Bears can hold the resistance of the downtrend. The fundamental backdrop is still the same and in general may be maintained for some time, which may allow us to catch a downward movement to the mentioned target Regards R. Linda!
Short
by RLinda
4
XAU/USD : Potential Fall Ahead ! (READ THE CAPTION)By examining the gold chart on the 30-minute timeframe, we observe that after a CHOCH and a break in market structure (BMS) at the $2466 and $2462 levels, gold experienced a further decline, correcting down to $2451. Currently, the price is trading around $2465. Given the structure formed on the chart, we can anticipate another potential drop to $2451 as the first target. This analysis will be updated accordingly afterward. Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! Best Regards , Arman Shaban
OANDA:XAUUSDShort
by ArmanShabanTrading
69
Sell Gold (Xau/Usd) Channel BreakoutThe XAU/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 2465, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 2425 2nd Support – 2403 Stop-Loss: To manage risk, place a stop-loss order above 2487. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
OANDA:XAUUSDShort
by KABHI_FOREX_TRADING
35
US Dollar Index Technical Forecast: USD Weekly Trade LevelsTechnical Outlook: In remaining month`s US Dollar Technical Forecast we mentioned that DXY was, “buying and selling into confluent guide this week on the 52-week transferring average / 38.2% retracement of the December rally at 103.96-104.26 – searching out a response / feasible rate inflection right here over the following few days.” The index grew to become better two-days later with USD surging greater than 2% off the June lows. The rally faltered at key resistance into the near of the month on the 2023 / 2024 high-week closes (HWC) at 106.10/11- the point of interest is on feasible inflection off this threshold with the long-bias susceptible whilst below. Initial weekly guide rests with the June low-week reversal near at 104.ninety five sponsored through key guide once more on the 52-week transferring average / 38.2% retracement, now 104.21/26- losses need to be constrained to this threshold for the January uptrend to stay viable. Broader, bullish invalidation regular at 102.87/99- a area outline through the 61.8% Fibonacci retracement of the December rally, the 2016 high-near, and the 2023 January low-week near (LWC). A topside breach / weekly near above 106.10 might be had to mark uptrend resumption with next goals eyed on the 50% retracement of the 2022 decline / 2023 highs at 107.18/34 and key resistance on the 100% extension of the 2023 advance / 61.8% retracement at 108.38/97- search for a bigger response there IF reached.
TVC:DXYLong
by Chart_MasterPro
DXY political elections| FOR MORE INFO READ THE SIGNATURE SPACE AT THE BOTTOM | Good morning Traders. I kindly ask you to leave a like on this post and follow my profile to support my free dissemination. It costs you very little but makes a huge difference for me. | DXY AND TRUMP? | Could another Republican show us a bearish dollar again? From the chart, we can see that Democrats have always pumped the dollar. Is it a coincidence? We'll see what happens. But now??? Biden has resigned. Will he stay until November or will Kamala take over early? Does it make sense to let a president take office who still has to go to the polls? What could we see? What will happen in the coming months? For now, I can't see the future, but as soon as I know, I'll tell you. For doubts, questions, or requests, comment or write to me! I will be happy to answer you. -HAPPY TRADING -MANAGE YOUR RISK -BE PATIENT (For more info, read the signature space.)
TVC:DXY
by X_GoldenBoy_X
DXY declined when Biden withdrew from the White HouseDXY: The USD index in today's session has reacted to a decrease and correction right after the information last weekend. Showing a bearish outlook in the context of Biden's withdrawal from the white house. The scenario in today's trading session is that DXY is expected to continue to weaken. Ace, please consider selling with USD US President Joe Biden introduced the stop of his re-election marketing campaign on July 21 (US time) and nominated Vice President Kamala Harris to update him because the Democratic presidential candidate. In the assertion on This week, he's scheduled to present a public speech. Being your president is the greatest honor of my life. Although I intend to run for re-election, I believe that for the best interests of my party and the country, I should stop and only focus on completing my presidential duties," Mr. Biden wrote. A few minutes after the above message, he wrote another message supporting Ms. Harris. "I chose Ms. Kamala Harris as my vice presidential candidate in the 2020 race. And it was the best decision I made," he continued.
TVC:DXYShort
by TheLeader_WOLF
USDCAD - A MEGA Drop Inbound!Complex is an understatement for USDCAD. As you can see from the chart, we have been meticulous in our analysis. To put it plainly. we are in a major WXY correction (3-3-3). We are in the final stretch of the correction (Wave Y), which appears to be a 535 zigzag. We are currently in subwave 2 and looking for a massive move down to complete the overall WXY correction. Trade Idea: - Watch for subwave 2 to complete - Once at the top of the structure, watch for rejection - Enter when reversal signs appear - Targets: 1.34 (400pips), 1.31 (700pips) Goodluck and as always, trade safe!
by WicktatorFX
5
DXY:Will Fed Cut Rates in September?Hey Traders, In today's session, we're eyeing a potential selling opportunity in the DXY around the 104.600 zone. Currently, DXY is in a downtrend and is undergoing a correction phase, approaching the key support and resistance area at 104.600. From a fundamental perspective, the downtrend in inflation and easing economic conditions in the US suggest that a rate cut might be on the horizon in September. This dovish environment could weaken the dollar further. Stay cautious and trade safe, Joe
TVC:DXYShort
by JoeChampion
7
GBPUSD Medium cycle GBPUSD was in the bullish channel and now its broken that and its on a supportive level. According to my last idea, i said if its hunt the channel sooner that we expected its show the bearish trend power. Then the bullish channel broke. but now the price on a supportive level and i think the trend can reversal. also the DXY confirm that because its in a resistance level. its show dollar will be weak. Its just my personal comment please don't trade whit this. I have no responsibility for your money.
Long
by Arco-ir