EURGBP at a major resistance level and will dropWelcome back! Let me know your thoughts in the comments!
**EURGBP - Listen to video!
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Majorlevel
EURUSD Long trade plan✅ Potential long opportunity if we see price action invalidate the bearish structure, preferably price remain trading above 1.09 major level.
❌ Long bias invalidated when price trading below 1.0850 level.
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The S&P Bullish trend is still ActiveHello everyone, as we all know the market action discounts everything :)
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The Bullish trend that started in November where the SPX index started moving up in an Ascending Channel is not stopping yet. The trend is still giving Bullish signals where we kept getting higher highs and higher lows.
The S&P 500 index booked fresh record closes on Thursday, despite falling from the session’s best levels, ahead of a highly anticipated August employment report on Friday.
The index price is still not showing any signs of weakness and most likely the Index movement for the next period of time will be like this :
If we look at the chart and where the market is right now we see that every time the SPX hit the upper end of the Ascending channel it always dropped into the middle range of the Channel, We probably won't see a big Bullish breakout in the Index right now, so the price most likely will be dropping this week a bit and it will be headed near the first support line at 4474.64 and if the Bears were able to gain more control then it could reach the second support at 4439.92 where the major Bull power will be and where the bounce back up will happen that would get the index above the resistance zone between 4528.74 - 4548.12.
Technical indicators are showing this :
The S&P 500 index is trending above the 5 10 20 50 100 and 200 MA and EMA ( Bullish Sign)
The MACD is above the 0 line showing that the market is in a Bullish state, With a positive crossover between The MACD line and The Signal line.
The STOCH indicator is in the overbought zone, With a positive crossover between %K (95.00) and %D (92.84). *The overbought zone indicates that the price might drop down.
The Ultimate Oscillator is at 79.95 sitting in the overbought zone. The overbought zone indicates that the price might drop down.
Support & Resistance points :
Support/Resistance
1) 4474.64 1) 4528.74
2) 4439.92 2) 4548.12
3) 4420.54 3) 4582.84
Fundamental point of view :
On Thursday, the S&P 500 rose to records on the back of better-than-expected jobless claims data. The initial filings for unemployment insurance fell to their lowest levels since March 2020.
The Labor Department reported first-time jobless claims totaled 340,000 for the week ended Aug. 28, compared with the 345,000 estimate.
The S&P 500 climbed 0.3%, hitting its 54th record closing high of 2021.
Investors are now looking ahead to August’s nonfarm payrolls report — released Friday morning — which could give clues about how fast the Federal Reserve will remove easy monetary policy. Economists polled by Dow Jones expect 720,000 jobs were added in the month, down from 943,000 jobs added in July. The unemployment rate is expected to dip to 5.2%, compared to 5.4% in July. According to CNBC Markets
This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!
Thank you for reading.
OIL major level supportOil major level support getting close. We can see price basically doing copy paste cycles. Blue boxes are equal as are the purple boxes. Hopefully price will be stopped at fib extension 127,2% on a perfect psychological price at 11$ and we'll see some upwards movement coming in.
TLT t.a. & set up 9.18.19TLT price action on the daily chart showing signs of an overall long term uptrend pattern, making higher highs and higher lows. SMA50 historically acts as a "Major Support" level and is currently showing signs of a potential support there again. RSI levels recently became oversold around 33 RSI, which may greatly increase the odds of a successful trade when combine with SMA50 acting as support.
A potential entry would be end of day if the price closes above both the SMA50 and EMA10
stop set at: if price closes below SMA50 @-1.5%
Exit target set near 46.12 level @ +5%
Risk/Reward ratio good but not grear @ little above 3:1
After a down swing (LONG) 1.11500 zone is a strong support level and also equivalent with 50% Fibonacci retracement level, so makes the level more stronger, I think just bad news about euro ecosystem's fundamental can break this level.if you see bullish sign after bouncing off from this level go LONG.
Also it can bounce off from 38.2% Fibonacci retracement level and continue uptrend but this is possible if more traders and super traders be agree with current EURUSD uptrend.
AUDJPY WEEKLY. APPROACHING 10-YEAR LOWS. AUDJPY approaching major area of value.
With the brief exception of the financial crisis price
hasn't breached these lows in over 15 years.
Will be favoring longs. Keep an eye on price action
at the level and be on the lookout for buy setups.
Tremendous upside potential comparative to the risk.
Good luck!
NZDJPY WEEKLY APPROACHING MAJOR SUPPORT. BIG OPPORTUNITY AWAITS.NZDJPY is approaching major historic support
offering some fantastic risk vs reward long-term trading opportunities.
I'll be favoring longs as price continues to head lower.
As I'm favoring longs at this level, I'll be keeping an eye at this
level to see how price action responds looking for buy setups.
USD/FJD - United States Dollar vs. Fijian DollarIn forex you are taught to trade the major pairs. Any other pair is basically not a focus. Well I came across this pair and see that price is approaching an area of major resistance. Obviously it will take some time for this setup to actually play out. I think if it sets up the way I see that it could then a good amount of pips could be made on this pair. This pair is due for a drop its just important to note when and where it could possibly happen. Hopefully by the time this pair is set up I will be at an optimal level for a live trading trading to trade this pair. Happy trading everyone.
Trading Journal Entry #8
USD/AUD - Market Prediction - 4HRUSD/AUD is approaching a level of note. Price has broken and retraced from this resistance level before. Overall I think price will consolidate in this level for a bit and then choose either to head further up or reverse to the downside. Either or it is important to be ready for both.
Trading Journal #4
USD/CAD Long Setup RSI Bullish Divergence on the H1.
Price action consolidating above the major daily support level of around 1.2900 and awaiting a breakout most likely to the upside.
Uncertainty can be seen on the candlesticks, dojis and spinning tops with small bodies, suggesting the rejection of this support and a potential bullish move to 1.3000 as the first target.
Trade setup of 80 pips with 40 pips stop.
2 Case Scenario - Wait for some good news to go longPlease like and subscribe if you want more analysis from me...
Brexit talks came to the second round - if some positive news will come out from UK or EU - it will push GBP higher.
This pair touched strong Fib Level and Major Uptrend line - very strong set up for Long position - however wait until something get broken.
CHF/JPY: Major Support Level Bullish OpportunityLooks like this pair could come down and test a Major Support Level @112.500 (last touched June 14 2017). Not only is this a Major Support Level but it is also a Psychological Level . We also have some Confluence with the 1.414 Extension as well.
R:R 1.65 and 2.57