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EURUSD H4 20 March 2024EUR/USD, H4 20 March 2024 The EUR/USD pair has recovered from its lowest point in March, ahead of the critical Federal Open Market Committee (FOMC) interest rate decision. A hawkish stance from the Fed could place additional downward pressure on the pair. Nonetheless, the pair has been supported by encouraging data from the ZEW Economic Sentiment Index, which recorded a value of 33.5, surpassing the previous figure of 25. This indicates an optimistic economic outlook within the eurozone economies. EUR/USD remains trading in a descending trajectory despite a technical rebound. Suggests the pair remain trading with bearish momentum. Resistance level: 1.0960, 1.1040📉 Support level: 1.0775, 1.0700📈
Short
by top_fx
GBPUSD H4 20 March 2024GBP/USD, H4 20 March 2024 The GBP/USD pair experienced a slight recovery from yesterday's lows but continued to exhibit weakness against the dollar. The market's hawkish expectations reinforced the dollar's strength, particularly in response to last week's robust U.S. Producer Price Index (PPI) reading. Investor focus now turns to the U.K.'s Consumer Price Index (CPI) reading, scheduled for release today, followed by the Federal Open Market Committee (FOMC) interest rate decision. Both sets of data are anticipated to significantly influence the price dynamics of the GBP/USD pair. GBP/USD recorded a rebound but remains trading in a bearish trajectory. Suggesting that the pair remains trading with bearish momentum. Resistance level: 1.2780, 1.2880📉 Support level: 1.2630, 1.2530📈
Short
by top_fx
DOLLAR_INDX,DXY H4 20 March 2024💵 DOLLAR_INDX, H4 💵 20 March 2024 Following the yen's selloff, investors sought refuge in the safe-haven dollar, resulting in positive gains. With a flurry of central bank decisions dominating currency markets, particularly the Federal Reserve's upcoming announcement, market focus remains keenly on potential interest rate adjustments and monetary policy statements. Expectations lean towards the Fed maintaining its current interest rate range of 5.25% to 5.50%, while closely monitoring the bank's guidance for future actions. The Dollar Index is trading higher following the prior breakout above the previous resistance level. Suggesting the index might experience technical correction. Resistance level: 104.45, 104.95📉 Support level:103.70, 103.05📈
TVC:DXY
by top_fx
🔖XAUUSD H4🔖 20 March 2024🔖XAU/USD, H4🔖 20 March 2024 Better-than-expected inflation data from the US prompted expectations of a hawkish tone from the Federal Reserve during its interest rate decision. Consequently, US Treasury yields climbed alongside the dollar, triggering a selloff in non-yielding assets like gold. Despite this, gold may consolidate within a range ahead of key events, with investors advised to monitor closely for further trading signals, particularly from the Fed's monetary policy decisions. Gold prices are trading lower while currently testing the support level. Suggesting the commodity might extend its losses after breakout. Resistance level: 2150.00, 2235.00📉 Support level: 2080.00, 2035.00📈
FX:XAUUSDShort
by top_fx
The TradingView Digest - March 19thHello everyone! Welcome back to the TradingView Weekly Digest. We’re thrilled to bring you even more reasons to stay connected with the TradingView account. As part of our commitment to constantly evolve and improve our offerings for you, our dedicated users, this edition includes a special “What’s New “ section. In it, we explore the latest enhancements and additions to our platform, ensuring you're always up-to-date with our most recent advancements. In today’s roundup, we’re excited to showcase the top posts from our vibrant community. Highlights include an insightful article on the history of Bitcoin, a trading strategy based on the Fibonacci tool, a new script for visualizing your equity curve, along with all the latest headlines, earnings reports, and economic events. We hope you find this week's edition informative and engaging. Let's dive in! 😀 💡 History of Bitcoin: The Underdog That Rewired Finance - by TradingView Bitcoin, a phenomenon that emerged at the onset of the 2008 financial crisis, has changed the way we think about money. To celebrate the token’s $73,000 milestone, we trace its origin story and look ahead into the future. To infinity… and beyond? 💡 Fibonacci Trading Strategy For Beginners - by VasilyTrader I am excited to reveal a powerful Fibonacci trading strategy that I learned many years ago. It integrates structural analysis, Fibonacci retracement and extension levels, and candlestick analysis. When applied correctly, this strategy has the potential to yield a winning rate of over 60%. 📰 Top Stories Adobe Stock Crashes 12% on Weak Guidance, Net Income Slashed in Half to $620M China's Central Bank Keeps Key Policy Rates Steady SOL, BOME Trend on Social Media as Ether, Bitcoin Lag Nissan, Honda Shares Rise Sharply After EV Tie-Up Plan Apple in talks to let Google's Gemini power iPhone AI features, Bloomberg News says 💵 Earnings highlights from the previous week: Dollar Tree's Fiscal Q4 Adjusted Earnings, Revenue Rise Williams-Sonoma's (WSM) Stock Up on Q4 Earnings & Revenue Beat UiPath (PATH) Q4 Earnings and Revenues Beat Estimates KT reports record-high earnings in 2023 MorphoSys AG reports results for the quarter ended in December 💡 When will Bitcoin Reach the Cycle Top - by FieryTrading In this analysis, I am providing an educated estimation for the timeframe within which Bitcoin may reach its peak during this cycle. You can observe Bitcoin's price movements spanning the past 13 years depicted on a 2-week chart. Essentially, it typically takes between 17 to 24 bars (equivalent to 34 to 48 weeks) before Bitcoin reaches its cycle peak, with an average duration of 20 bars. 💡 Help Shape the Future of TradingView Content - by TradingView Hello, TradingView community! As we continue to grow and evolve, our commitment to providing value to our users remains paramount. At TradingView, we understand that our users are at the heart of everything we do. This is why we constantly strive to offer content that enriches your trading experience, empowers your decisions, and nurtures your growth as a trader. 📆 Economic Calendar ⚡️ 19th March (Japan) — BoJ Interest Rate Decision ⚡️ 19th March (Canada) — Inflation Rate YoY ⚡️ 20th March (United States) — Fed Interest Rate Decision ⚡️ 20th March (United States) — FOMC Economic Projections ⚡️ 21th March (United Kingdom) — BoE Interest Rate Decision ⚡️ 22nd March (Japan) — Inflation Rate YoY 🔥 What's New? ✅ JFX forex data — now accessible on TradingView ✅ Enhancing DeFi trading: TradingView partners with QuickSwap ✅ Improved data of BIST futures: make use of settlement prices, back-adjustment, and Open interest ✅ Chart view in Stock, ETF, and Crypto coins screeners 🌟 Script of the Week 📜 Risk Management Chart - by NoveltyTrade This script simulates multiple equity curves based on user-defined win-loss and risk-reward parameters, allowing visualization and analysis of risk management strategies. 💭 Our Weekly Thought: “ Plan the trade, see the trade, feel the trade. ” We hope you found this helpful. Please share your feedback, thoughts, or suggestions with us in the comments below. With 💖, TradingView Team 📣 Want to be among the first to know all the news? Give us a follow!
SP:SPX
by TradingView
14
🛢 CL OIL, H4 🛢 18 March 2024 🛢 CL OIL, H4 🛢 18 March 2024 Oil prices saw a slight retreat primarily attributed to technical correction. However, the long-term outlook for the oil market remains positive as the International Energy Agency (IEA) and OPEC revised their 2024 oil demand forecasts upwards for the fourth time. Economic growth surpassing expectations is anticipated to bolster oil demand, underpinning the positive trend in the oil market. Oil prices are trading flat while currently testing the support level. Suggesting the commodity might extend its losses after breakout. Resistance level: 82.45, 84.10📉 Support level: 80.20, 78.00📈
TVC:USOILShort
by top_fx
AUDUSD H4 18 March 2024AUD/USD, H4 18 March 2024 The AUD/USD pair faced significant pressure from the robust U.S. dollar and witnessed a sharp decline in the previous session. However, the pair managed to find support ahead of the upcoming RBA interest rate decision scheduled for tomorrow (March 19th). With inflation in Australia remaining elevated, the market anticipates that the RBA will maintain its current interest rate level to mitigate inflationary pressures and prevent economic recession. AUD/USD is consolidating at near 0.6560 levels, suggesting a potential trend reversal for the pair. Suggesting the pair's bearish momentum remains intact. Resistance level: 0.6560, 0.6617📉 Support level: 0.6540, 0.6485📈
Short
by top_fx
USDJPY H4 18 March 2024 USD/JPY, H4 18 March 2024 The Japanese yen experienced significant selling pressure as investors offloaded positions ahead of high volatility events. Despite the sell-off, bullish prospects remain for the Japanese yen, driven by speculation of potential monetary shifts from the Bank of Japan. Tuesday's BOJ meeting is poised to be consequential, with officials deliberating on ending eight years of negative interest rates in a landmark shift away from its stimulus program. USD/JPY is trading higher while currently testing the resistance level. Suggesting the pair might enter overbought territory. Resistance level: 148.35, 150.80📉 Support level: 149.15, 150.80📈
Long
by top_fx
EURUSD H4 18 March 2024EUR/USD, H4 18 March 2024 The EUR/USD pair experienced a significant decline in the recent session and is currently hovering above the 1.0866 level. Market attention is focused on the Eurozone's CPI reading, which is scheduled for later today. Projections suggest that the CPI reading may come in lower than the previous figure, signalling a potential easing in inflationary pressures. If the actual CPI reading falls below expectations, it could exert additional downward pressure on the pair. EUR/USD has found support and consolidation after its significant plunge from the last session. Suggesting the pair's bearish momentum remains intact. Resistance level: 1.0960, 1.1040📉 Support level: 1.0870, 1.0775📈
Short
by top_fx
GBPUSD H4 18 March 2024GBP/USD, H4 18 March 2024 The GBP/USD pair faced pressure from the strengthening dollar following the release of higher-than-expected PPI figures last week. Expectations are for the pair to experience notable fluctuations this week, with several significant events on the calendar likely to influence its direction. The upcoming FOMC interest rate decision on Wednesday and the BoE interest rate decision on Thursday are both anticipated to be key drivers for the pair's movement. Traders will closely monitor these events for insights into potential shifts in monetary policy and their implications for the GBP/USD exchange rate. GBP/USD is trading in a bearish trajectory but is currently supported at the above 1.2710 level. Suggesting the pair remains trading with bearish momentum. Resistance level: 1.2780, 1.2880📉 Support level: 1.2710, 1.2630📈
Short
by top_fx
XAUUSD H4 18 March 2024🔖XAU/USD, H4🔖 18 March 2024 Gold prices declined as the US Dollar appreciated and US Treasury yields rose, dampening demand for non-yielding assets like gold. Better-than-expected economic data from the US signalled expectations of more hawkish policies from the Federal Reserve, further weighing on gold demand. Investors are closely monitoring monetary policy decisions for trading signals amid shifting market dynamics. Gold prices are trading lower while currently testing the support level. Suggesting the commodity might extend its losses after breakout. Resistance level: 2150.00, 2235.00📉 Support level: 2080.00, 2035.00📈
FX:XAUUSDShort
by top_fx
DOLLAR_INDX,DXY H4 18 March 2024💵 DOLLAR_INDX, H4 💵 18 March 2024 The Dollar index strengthened against major currencies in anticipation of the Federal Open Market Committee's (FOMC) monetary policy decisions. Last week's higher-than-expected US producer and consumer price indexes raised hopes for a hawkish stance from the Federal Reserve. All eyes are on the Fed meeting for clues on the central bank's outlook for rate cuts. The Dollar Index is trading higher following the prior breakout above the previous resistance level. Suggesting the index might enter overbought territory. Resistance level: 103.75, 104.50📉 Support level:103.05, 102.40📈
TVC:DXYLong
by top_fx
AUDUSD H4 15 March 2024AUDUSD H4 15 March 2024 The AUD/USD pair experienced losses, breaking below crucial support levels as a sharp resurgence in demand for the US Dollar prevailed. Firm inflation data and positive labor market figures contributed to the Dollar's recovery, alongside ongoing speculation regarding the Fed's expected rate adjustments. Further catalysts for the Australian dollar are expected to hinge on China's economic outlook. AUD/USD is trading lower while currently testing the support level. Suggesting the pair might extend its losses after breakout. Resistance level: 0.6625, 0.6685📉 Support level: 0.6560, 0.6485📈
Short
by top_fx
EURUSD H4 15 March 2024EUR/USD, H4 15 March 2024 The EUR/USD pair sustained bearish momentum driven by US Dollar appreciation following stronger-than-expected inflation data. Diminished expectations for Fed interest rate cuts in the short term contrasted with upcoming ECB policy maker comments on monetary policy prospects in Europe. Investors monitored monetary statements for further trading signals amidst ongoing market volatility. EUR/USD is trading lower while currently testing the support level. Suggesting the pair might extend its losses after breakout. Resistance level: 1.0960, 1.1005📉 Support level: 1.0870, 1.0800📈
Short
by top_fx
XAUUSD H4 15 March 2024🔖XAU/USD, H4🔖 15 March 2024 Gold prices extended losses and consolidated around after reaching record highs. Investors opted for profit-taking strategies while awaiting further catalysts before re-entering the market. Improved inflation data raised expectations for the Federal Reserve to delay rate cut policies, potentiallyn impacting non-yielding commodities like gold. Gold prices are trading lower following the prior retracement from the resistance level. Suggesting the commodity might enter overbought territory. Resistance level: 2175.00, 2265.00📉 Support level: 2100.00, 2050.00📈
FX:XAUUSDLong
by top_fx
DOLLAR_INDX,DXY H4 15 March 2024💵 DOLLAR_INDX, H4 💵 15 March 2024 The Dollar Index, tracking the greenback against a basket of major currencies, rebounded on the heels of better-than-expected inflation figures. The robust data prompted heightened expectations of rising interest rates, leading to a resurgence in US Treasury yields. According to the US Bureau of Labor Statistics, the Producer Price Index (PPI) for the previous month saw a significant increase from 0.30% to 0.60%, surpassing market forecasts of 0.30%. Additionally, Initial Jobless Claims reported by the Department of Labor came in at 209K, better than the expected 218K, signalling continued strength in the labour market. The Dollar Index is trading higher following the prior breakout above the previous resistance level. Suggesting the index might enter overbought territory. Resistance level: 103.75, 104.50📉 Support level:103.05, 102.40📈
TVC:DXYLong
by top_fx
🛢 CL OIL H4 🛢 14 March 2024🛢 CL OIL, H4 🛢 14 March 2024 Crude oil prices climbed higher following better-than-expected inventory reports, with US Crude oil inventories declining more than anticipated according to Energy Information Administration (EIA) data. Investors await the International Energy Agency's monthly report for further insights into supply and demand dynamics, following OPEC's latest forecast. Oil prices are trading higher while currently testing the resistance level. Suggesting the commodity might extend its gains after breakout. Resistance level: 80.20, 84.10📉 Support level: 78.00, 75.95📈
TVC:USOILLong
by top_fx
AUDUSD H4 14 March 2024AUD/USD, H4 14 March 2024 AUD/USD edged higher as markets anticipated a potential Federal Reserve interest rate cut in June, despite sticky inflation data. Contrastingly, the Reserve Bank of Australia (RBA) hints at potential rate hikes amidst elevated inflammation levels, signalling divergent monetary policies between the two central banks. AUD/USD is trading higher while currently testing the resistance level. Suggesting the pair might extend its gains Resistance level: 0.6645, 0.6680📉 Support level: 0.6585, 0.6535📈
Long
by top_fx
EURUSD H4 14 March 2024EUR/USD, H4 14 March 2024 EUR/USD experienced modest gains, supported by US Dollar depreciation. However, market sentiment remains mixed as investors weigh macroeconomic outlooks in the Eurozone and the United States. Anticipation builds ahead of potential borrowing cost adjustments by the European Central Bank (ECB) and the Federal Reserve (Fed) in June. EUR/USD is trading higher while currently testing the resistance level.Suggesting the pair might extend its gains after breakout Resistance level: 1.0960, 1.1095📉 Support level: 1.0865, 1.0765📈
by top_fx
GBPUSD H4 14 March 2024GBP/USD, H4 14 March 2024 Pound Sterling saw a modest rebound post UK GDP data release, which met market expectations. According to the Office for National Statistics, the UK economy returned to expansion in January, rising by 0.20% after contracting 0.10% in December, which aligned with the market expectations. Despite returning to growth in January, Pound Sterling remained relatively subdued amidst ongoing volatility. Market participants await additional catalysts before taking decisive positions. GBP/USD is trading higher following the prior rebound from the support level. Suggesting the pair might extend its gains toward resistance level. Resistance level: 1.2865, 1.2940📉 Support level: 1.2770, 1.2710📈
Long
by top_fx
1
XAUUSD H4 14 March 2024🔖XAU/USD, H4🔖 14 March 2024 Amidst prevailing market caution ahead of crucial US economic data releases, gold prices rebounded from support levels, extending their bullish trajectory. Lingering risk aversion prompted investors to seek refuge in safe-haven assets, contributing to heightened demand for gold. Gold prices are trading higher following the prior rebound from the support level. However, Suggesting the commodity might experience technical correction. Resistance level: 2235.00, 2350.00📉 Support level:2150.00, 2080.00📈
FX:XAUUSD
by top_fx
DOLLAR_INDX,DXY H4 14 March 2024💵 DOLLAR_INDX, H4 💵 14 March 2024 The Dollar Index retreated from resistance levels as market participants absorbed higher-than-expected Consumer Price Inflation (CPI) data, prompting profit-taking strategies ahead of upcoming US economic releases. Attention now turns to pivotal Producer Price Index (PPI) and retail sales figures for insights into the economy's trajectory and potential interest rate adjustments. The Dollar Index is trading lower following the prior retracement from the resistance level. Suggesting the index might extend its losses. Resistance level: 103.05, 103.70📉 Support level:102.55, 102.10📈
TVC:DXYShort
by top_fx
1