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GBPUSD Long, Gold Short? Let's see... Hey everyone, it's been a while, so in today's video we going to be looking at Gold and GBPUSD and here is what you can expect: - What does the quarterly says and how will it impact us moving forward. - What are the specific indicators that could be used as key signals for the direction of price in the coming weeks. - What does the market need to do in order to confirm its direction and how we should go about taking advantage of it. If you have any questions related to today's analysis or would like to add your thoughts, please feel free to do so in the comment section below.
FX:XAUUSD
by DeanMuller
BET ON DXY LONGTERM DECREASE IN VALUE?Back again. FED will be on their target next interest rise, so with that information I suppose that Market starting pricing in this fact. Important will be BoE reaction on this and I assume that they will atleast few times rise, sending Cable upward faster. Corrections meantime are sure thing to grab and shake out retail in wrong direction. If I missed something which can change my longterm bias, let me know in the comments please! Wish you only greens, Jake
Long
by jake1fx
Big altcoin move incomingThe ETHBTC chart is very helpful for identifying when altcoins are about to have a strong move, the reason for that is because Ethereum tends to run the entire altcoin market. It isn't a perfect indicator, but in general if ETH is performing well, then so are many other altcoins. ETHBTC is currently retesting a resistance line that it broke below. This is technically a bearish retest, but if ETHBTC can break higher, this could be the opportunity for much of the money in the market to flow into the altcoins. However, on the other hand, if this bearish retest is confirmed it could be very bad for the altcoin market. This isn't something I would front-run a trade on, but gives us some insight that the next move in the market could be a large one. And it's always good to revisit BTC outlook to see how these may overlap. And in the chart below we can see BTC is still in the range that we have been watching for over a week now. So the scenarios that could play out are the following: ETHBTC bearishly retests and BTC breaks lower, altcoins will get crushed if this happens ETHBTC bearishly retests and BTC breaks higher, altcoins will likely not trade very well. This is similar to some of the altcoin trading we've had in the last few weeks. ETHBTC breaks higher and BTC breaks lower, altcoins could be difficult to trade in this scenario as well, likely a mix between some bleeding out, some moving higher, and some stationary. ETHBTC breaks higher and BTC breaks higher, altcoins will see significant upside if this happens. My motive in these scenarios as I've mentioned in recent posts, is just to remain on the sidelines. I only like to trade when there is a clear advantage on my side and I don't currently see it. So rather than betting on one side, I opt to just keep my capital safe. Happy trading!
by Obscure_Trading
1
AUDJPY 2nd April Based on our analysis of the AUDJPY chart, we have identified a bullish setup that we believe will continue to push prices higher in the coming week. Our primary focus is on the hourly supply zone, which is located at the last major high on the chart. We anticipate that the bullish movement will carry us up to this level and possibly even beyond. To identify our bullish setup, we have been using the 5/15-minute swing move and analyzing the price action on the 15-minute timeframe. We are looking for price to shift higher from one of our major lows, which would confirm our bullish bias. This setup is currently in play, and we are monitoring the price action closely. However, if we don't see the anticipated bullish shift, we will start to consider bearish moves lower. Nonetheless, we understand that we are in a bullish trend, and until there is a confirmed breakdown, we will continue to expect prices to move higher. In summary, our analysis indicates that there is a high probability of a bullish move towards the hourly supply zone, and we will be closely monitoring the price action to confirm this view. If we see any bearish signals, we will reassess our bias accordingly. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety
DXY 2nd AprilAfter reviewing the market trends over the past week, it appears that we are still anticipating a bullish shift to occur in the near future. We have already tapped into the lower swing zone from our breakout level, which signals a potential upward trend. However, for this bullish shift to materialize, we must break the previous high that we put in after the break of structure. Once this occurs, we can expect to see the price shift back into the higher swing move. It is important to note that this process may take some time to fully play out, as market trends can be unpredictable. Nevertheless, keeping an eye on these trends gives us a clear idea of what kind of setups we can look for on our USD related pairs. By monitoring the market closely and making informed decisions based on the trends we observe, we can position ourselves to take advantage of potential bullish opportunities in the future. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
TVC:DXYLong
by PipSurfingSociety
2
GBP/USD SHORT- BREAKING BEARISH WEDGE NOWGBP/USD has been on a recent rally after hitting our first TP of our last short. Now it has formed a bearish rising wedge with multiple counts of bearish divergence and it has also rejected its previous resistance. Should the candle close outside of this wedge and then confirm the breakdown we will be short with the targets shown. Set your alerts! The DXY also looks to be double bottoming after its breakout last week And the EUR looks like it's breaking down also with these potential targets. Wait for candle close and confirmation!
Short
by SynergyTradingSetups
BTC Ranging and Planning TradesWe are back to the time where I like to set up for some trades. Some of my favorite trading comes when BTC defines a stable range like it has, this involves being patient to allow BTC to sweep high and low liquidity of the range. But once that range forms and has time to develop, the likelihood of the next move out of the range being a confirmed breakout increases. And we are now at that point where I am reasonably confident that when BTC moves out of this range, it will likely be the confirmed breakout and not a swing failure. So what I am doing at this time is preparing for the altcoin trades that I want to take. I will only enter these when BTC breaks out of the range because I prefer not to get caught up in the noise of trading within the range. So the key here is to time the altcoin entries well so that the altcoin is breaking out of its respective pattern at the same time that BTC is breaking out of its range. This is not a complete list, but here are a few ranging altcoins that I am watching: ETH BAT PEOPLE AVAX
BINANCE:BTCUSD.P
by Obscure_Trading
1
27/03/23 Weekly outlookLast weeks high: $28895.5 Last weeks low: $27735.9 Midpoint: $26576.2 A week of sideways action following the previous weeks strong rally. BTC has currently topped out at a local high of $28895, the volatility of the FOMC event in the middle of the week gave us a sharp decline before a retest of that weekly high in which it was rejected. With the estimated 0.25% rate hike being confirmed the market had this result priced in, but as always with the FED announcements like FOMC & CPI comes volatility no matter the resulting news. Note the importance of the 1H 200EMA purple moving average as support, on 3 separate occasions it provided the best possible entries for longs last week. It will be interesting to see if this pattern continues throughout this week. For me, the floor is at last weeks low, if Bitcoin falls under that area and confirms it as resistance that'll mean we've lost the 1H 200EMA as well and the outlook would be bearish in my opinion. After all this is still just a bear market rally until proven otherwise.
by ProR35
GBP & Gold Reaction to UK Inflation and US Rate HikeTwo significant events have occurred within the past 12 hours, causing both GBPUSD and gold prices to surge. The first event was the unexpected rise in UK inflation, which jumped from 10.1% in January to 10.4% in February 2023, marking the first increase in four months. The primary factor behind this increase was the soaring food and drink prices, which surged at the fastest pace in 45 years. This inflation reading may fuel arguments that the Bank of England needs to boost interest rates again. However, the data might have arrived too late to impact the Bank's interest rate decision, which is due tomorrow. Nevertheless, the GBP rallied against the USD, before subsiding, and then rallying again on the news of the second event. The second event occurred an hour ago, with the US Federal Reserve announcing its latest interest rate decision, which included a 25-basis-point hike. While most of the market had anticipated this move, some participants believed that the Fed might pause its rate hikes. In the post-decision address, Fed Chair Jerome Powell acknowledged that recent economic indicators, particularly job data, have come in stronger than expected. However, Powell noted that the recent turmoil in the banking sector should result in tighter lending conditions, which will help combat the robust economic data. Nonetheless, Powell added that it was too early to determine how monetary policy should respond to the recent banking crisis, but it will play a role in future rate hike decisions. Gold is following a similar path to the GBP/USD and appears to be encountering some resistance at $1,970.
by BlackBull_Markets
20/03/23 Weekly outlookLast weeks high: $28435.9 Last weeks low: $25136.9 Midpoint: $21837.8 Huge rally for BTC last week! pushed past a key level of 25.5k, a level we have been under since 14th June of '22. We are now working in the 25.5k - 32.5k range and it's important to secure price above the previous high. acceptance in this range should see us work towards the mid range at 29.2k before 32.5k. It's hard to know what the near future holds because of the macro banking financial worries. However, it's important that crypto performs well when legacy banking doesn't, that's the whole point of the technology originally.
by ProR35
SP500 break out or dive into the deep?No need for a long description every info is present on the chart. Filter out the news noise, charts and price action will tell you or at least indicate you what will happen with the price way before news comes up to your TV screens. Dont you find it super suspicious that every "major" news comes up exactly when price is making break out from important levels? For example weekly, monthly levels, historical highs, lows etc.. Follow the price action - stare at the charts not at the TV screens.
FOREXCOM:SPX500
by Matko_MJ