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Volatile Week for USD/CAD? Volatile Week for USD/CAD? The Bank of Canada (BoC) is anticipated to lower rates by 25 basis points on Wednesday, bringing the policy rate down to 4.25%. This expectation follows a recent CPI report that indicated further easing in core inflation, coupled with weaker labor market data. While a 50-basis point cut seems unlikely, it can't be entirely dismissed. In the July monetary policy meeting, Governor Tiff Macklem suggested that the focus may shift towards supporting economic growth rather than solely controlling inflation. Additionally, Canada's August employment report is set to be released on Friday, coinciding with the US nonfarm payrolls report. This timing could heighten uncertainty and volatility in the USD/CAD pair. A key level to watch will be the 1.3570-1.3600 zone, which previously served as a significant support area. Whether this area will be re-tested remains to be seen.
by BlackBull_Markets
XAUUSD 01/09/24Coming into this week on gold, we have a clear consolidation at the last major high. This suggests there is a significant amount of liquidity built above this high. We also saw a drop towards the end of last week, indicating that a sell-off may occur in the first sessions of this week. This is based on the principle that liquidity was starting to be taken, making a sell-off at the open more likely as buyers step in. This could lead to price action moving lower before rising back into the highs, ultimately targeting the liquid highs we have marked. Please note the two areas of liquidity below and the two areas we’ve marked. These are the points where we are watching for price action to turn bullish, but we are primarily focused on a slight pullback before going long. Also, take note that the liquid low and overall trajectory of price action have changed, so a pullback seems logical in this scenario. Aim for the high and expect a new all-time high to be formed on gold. If we break down through the lows and do not see a positive reaction, I will look to go short in the new downward trend. However, this will be short-term, as our long-term bias remains bullish. Therefore, I will be more focused on finding a long position and holding onto any shorts. Trade your plan and always stick to your risk management. Trade your plan and always stick to your risk.
OANDA:XAUUSD
by PipSurfingSociety
XAUUSD 26/8/24After calling another all-time high on gold last week, we were expecting more upside from this pair. Now, the one thing that shifts us toward a sell-side bias is the fact that we broke the last significant structural low that led to the new high. This indicates that a pullback is in progress, but with liquidity building above the significant high, the probability of further upside remains the most likely scenario. With this in mind, the level below the current price, where we reacted last week, is where we expect the price to come down and interact again. We also have a demand area below. If the price drops into this area, I will look for longs back toward the highs, potentially creating another new all-time high for gold. However, if we break below the trajectory level we’ve identified and pass the demand area we've marked, we’ll anticipate a deeper pullback, similar to what we projected on EUR/USD. Using the same principles here, we have two points of interaction for potential upside moves, but for sell-side moves, we don’t yet have any areas to reference. If the price drops lower, new areas will be left behind, and we can begin to consider them. Until then, we are focusing solely on the upside areas. This aligns with our overall bias, supported by the daily timeframe, which is showing very strong moves to the upside. We do not expect this to change abruptly. Trade safely, follow your plan, and stick to your risk management.
OANDA:XAUUSD
by PipSurfingSociety
Is JASMY done? Taking a look at the daily chart, we see JASMY has been in a down trend (lower highs and lower lows) since the beginning of June falling back into this consolidation range where it was bound for 3 months during February - May. The fact that price has made a complete retracement of the breakout and back into the old consolidation channel, testing its low, is not a good sign to me. The yellow lines on the chart represent the consolidation's boundaries with the top acting as strong resistance and the bottom now acting as strong support again. There's an intermediate level that acts as support/resistance around the .021 area. The selloff on Monday, August 5th had substantial volume (last time we had that high of a volume was in February) which indicates to me that a large amount of coins were sold that day and people were taking their profits or getting out of their positions. Moving forward, I would expect price to be bound within the range of this consolidation channel and if it breaks below it, the next support zone I see is around .012 - .013. If price makes its way down to .015 - .016 again and consolidates there, it could be a great opportunity for a long position as that level is extremely strong. But, I need more data supporting that thesis before considering an actual entry. Good luck to you all.
COINBASE:JASMYUSDShort
by TheTrendInspector
Interesting graph of USD/UAHOf course, I have not traded the currency market much and I have no experience as such, but I can predict something purely based on the structures and how it happened, my analysis cannot be taken into account! 1) I can see a 5 wave structure and now the last wave of growth 2) There is so much negativity that the chart begins to slow down, a sign of trend weakness 3) As strange as this US election is, it looks like something is about to happen In my opinion, there are 2 scenarios. First, we really form the 5th final wave and go through a correction to 20-25, which will give a positive result for 4-10 years, after which the upward movement will begin again. Second, the negative will become more and more and the rate will start to break above 50-54, which in my opinion is very critical and will stretch the uncertainty for years. In my opinion, the probability is as follows, the first - 70-75%, the second - 30-25%
Short
by MyTechNAz
DOT DOT DOT DO YOU LIKE DOT?After a nice reaction from the Value Area low, we are trading at the POC. The areas I would look for a long would be a supply/demand flip of the POC targeting the Value Area High & Range High, or a retest of the Value Area Low After a sweep of the lows. Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade. Every day the charts provide new information. You have to adjust or get REKT. Love it or hate it, hit that thumbs up and share your thoughts below! This is not financial advice. This is for educational purposes only.
by Navitility
+500% Profit Target for FTM Long Trade#FTM/USDT #Analysis Description --------------------------------------------------------------- + Price has hit the support line and holding strong in the support line. + Price is expected to bounce back from this support line, if the support breaks then next support is expected to hold strong. + Im entering a long trade with low leverage --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 0.5628 Stop Loss: 0.2946 ------------------------------ Target 1: 0.6741 Target 2: 0.8513 Target 3: 1.1139 Target 4: 1.3869 Target 5: 1.8470 Target 6: 2.5392 Target 7: 3.3576 ------------------------------ Timeframe: 1W Capital Risk: 1-2% of trading amount Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Feel free to share your thoughts and insights. Don't forget to like and follow us for more trading ideas and discussions. Best Regards, VectorAlgo
FLong
by VectorAlgo
2
Will MANA Support hold ? Get ready for both scenariosBINANCE:MANAUSDT (1W CHART) Technical Analysis Update MANA is currently trading at $0.331 and price is trading around its support zone, we are not sure if this support will hold and price bounce back from this support zone. We need to consider both scenario for entering the trade here, for long trade we will enter only after a green weekly candle above the support zone. For short trade we will enter if the candle closes below the support zone. -- LONG Trade -- Entry level: Green Weekly candle above support zone Stop Loss Level: $ 0.2526 TakeProfit 1: $ 0.4561 TakeProfit 2: $ 0.5931 TakeProfit 3: $ 0.7804 -- SHORT Trade -- Entry level: Candle close below support zone Stop Loss Level: $ 0.3487 TakeProfit 1: $ 0.2038 TakeProfit 2: $ 0.1644 TakeProfit 3: $ 0.1198 Max Leverage: 2x Position Size: 1% of capital Remember to set your stop loss. Follow our TradingView account for more technical analysis updates. | Like, share, and comment your thoughts. Cheers GreenCrypto
by GreenCryptoTrades
DJI : Make or Break?- DJI is currently encountering strong resistance at 34500. - The psychological significance of this resistance level adds to its importance. - This could be one of those, Go Big or Go home scenerios - In case the resistance holds, a potential psychological support level at 33000 may come into play. The support trendline intersects at a similar level. What is your take on the price action of DJI? Feel free to comment. If it helped, Do Leave us a boost 🚀 Disclaimer: We are not registered advisors. The views expressed here are solely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. We like everybody else, have the right to be wrong :)
DJ:DJI
by TheChartereds
2
NZDCAD - 📈 => 📉Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last analysis (attached on the chart), NZDCAD rejected the lower bound of the red channel and traded higher. What's next? 📈 NZDCAD has been overall bearish, trading within the falling channel in red. At present, NZDCAD is undergoing a correction phase, trading within the short-term rising channel in blue, and it is currently approaching the upper bound of the channel. Moreover, it is retesting a strong resistance zone in green. 🏹 Thus, the highlighted red circle is a strong area to look for buy setups as it is the intersection of the green resistance and upper trendlines. 📚 As per my trading style: As #NZDCAD is hovering around the circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
2