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The Eagle eyes a ( Risk on ) Inflation report 🦅The market is going up for asian session and I'm anticipating a correction of this price action during lodnon session. With USD CPI data during New york session it is possible price could just fly to the next daily resistance zone 1.0813. This will likely occur if the 4.1% forecasted inflation rate isn't met and inflation decreases at a slower rate than what is expected. I think this to be the more likely scenario because a .8% decrease in inflation seems like a bit much to me. I'm not anticipating that EURUSD will take it's lovely time increasing. It will be abrupt and cutthroat as the market blows through Investors's ***** ... Okay I will stop there because I don't want to make things to explicit. That's whats happening when price fluctuates 50 pips in the blink of an eye anyways. It's not what you want to hear but it's the truth. The unprepared will be taken to the slaughterhouse. I will implement my trading system as it allots. Risk management / Position sizing and capital preservation are especially significant during times like this. CPI data releases have acquired an important role in the last 2 years due consistently high inflation. If Eurusd continues it's downtrend on Higher timeframes and last week's bull candle was just a dead cat's bounce, then we may anticipate that price will spike at or above 1.0782 Daily resistance level or even go touch 1.0813 Daily resistance level before returning to the downside as the current daily candle closes back underneath 1.0782 Daily level and goes back down prior to FOMC interest rate news on Wednesday. Price has estalbished a new Daily support level at 1.0746
Long
by ShrewdCatfx
USDJPY LONG & SHORT SETUP - US NEWSDuring the European session, the US/JPY pair remains stagnant, trading within a limited range just below the significant resistance level of 140.00. The market is characterized by volatile fluctuations as investors adopt a cautious approach in anticipation of the upcoming release of US inflation data. In London, S&P500 futures have gained as investors hope the Fed will delay interest rate hikes and weaken the US Dollar. The US Dollar Index reached a two-week low at 103.21 due to expectations of a neutral interest rate policy and softening US inflation. Analysts predict May's CPI will remain unchanged, but core inflation will stay strong. The Bank of Japan is likely to maintain its interest rate policy, aiming for inflation above 2%. Nicola, CEO of Forex48 Trading Academy
Short
by Forex48_TradingAcademy
AUDCAD SHORT TRADE BEFORE CAD NEWSOn AUDCAD, we have a bullish setup with the price, after yesterday's rally, stalling around the 0.891 area where we have a strong volume concentration. This is a potential reversal zone where the price could reverse course and reabsorb the liquidity left in the market. In fact, we can observe a significant cluster of trades at the 88.90 level. That level will be the target objective in case of a short trade. Please share your expectations. Happy trading to everyone. Nicola CEO of Forex48 Trading Academy
Short
by Forex48_TradingAcademy
🔥 Bitcoin's Last Hope For The BullsOver the last two days, Bitcoin has been dumping on Bearish SEC news from the USA. In the short-term, the bears are 100% in control and are actively pushing the price down. However, the bulls might have a last trick up their sleeve. We're rapidly approaching a massive zone of support that has been established around a year ago. If there's any big buyers left, they are waiting within this zone. A bullish reversal from this zone could signal an end to the ~2 month bearish trend. This would be in line with my long-term bullish Elliot Waves analysis on Bitcoin below. However, if this zone fails to hold the price, I'd expect that there's more selling to come. Seeing that this is a news-related selling event, it's hard to determine whether we're going to reverse or not. Technical analysis has a lot less impact once trading is based on pure emotion. Nevertheless, keep a close eye on this zone since it will likely cause some heavy volatility, either to the upside or downside.
COINBASE:BTCUSD
by FieryTrading
10
USD Buyers Surprised by News Release 🎋 Hold or fold? Manufacturing Data sent Eurusd price soaring 42 Pips in less than 11 minutes as the expected figure missed. Is the current Price sustainable for Eurusd? The Weekly candle dipped down to down Daily Support Level 1.06684 and coinciding with manufacturing data we have rejected our Daily support level. In order for the current Daily candle to close bullish price needs to close above 1.07107. Bullish Argument - If the Daily candle closes where it currently sits, it looks like a Bullish hammer candle. - A Bullish Hammer candle rejecting Daily Support Level 1.06884 - Price has retraced Asian session and London sessions's bearish descent - I am anticipating a steady bullish recovery in EURUSD price since the meeting minutes on May 24 ( For more, please check the post " Ultimate Catalyst : Interest Rates News " ) - The Weekly candle last week closed as a Doji candle, an Indecision candle as bears ran into a wall at our weekly support zone 1.06643 Given all of this, It is very common to see News releases get corrected. I believe this will occur over the next few sessions as we could observe during the May 10th CPI announcement. On this announcement Price initially spiked up with news. This occured only to see Eurusd price corrected as the market digested the news. It took 18 Hours before Eurusd corrected the May CPI news. Price on Eurusd was decreasing to close out last week. This week price had only been decreasing with exception for the New York session manufacturing data news release. I am anticipating Eurusd to range and gather more orders around 1.0688 Daily support before seeing anymore upside.
Short
by ShrewdCatfx
XAUUSD Outlook 5/6/23. 📉??Good evening gold gang!! hope you had a good weekend. Ok so we have closed in a position that last time, lead us to come down a few hundred pips. The 4hr candle as already made a top wick and is in a prime position to come down .. but we are under no illusion that gold does what it wants. So lets see what the volume is like in the sessions. Nothing bearish showing on DXY currently, so thats another reason for gold to come down further into the key level zone. Buy and sell zones are there with a little instruction of how i would normally take my entries during periods of high volume... have a read! As usual, ill be updating during the day, so make sure you are following on to receive notifications. Please like and boost the post too!! Catch you tomorrow morning for the london session tommyXAU
OANDA:XAUUSD
by tommyXAU
11
Forex Gods 🧞 Dare to Continue Eurusd? Well.. entering the final london session of the week here. I'd be a fool to change up on my analysis. What I have projected thus far this week has occurred exactly as I had anticipated. Would I be foolish to give up on this and outsmart my original idea so to speak. I don't want to play myself. When you stick around in the markets long enough, you begin to see things occur over and over again. Those who know, understand. It's not complicated though and it's actually pretty straightforward. When you mix an attachment to money in there, well no sh*t it is tied to our survival in the modern age. Well that's when things get complicated. Otherwise, I'm simply drawing lines and articulating what's unknown to me at this present time. I've done it long enough now to the point in which I am quite confident either way. Most of the time price bounces at my levels and so for the rest of time I will have the ability to create attractive Risk/Reward ideas. What a privilege. The difficult part is sticking around long enough to gain another perspective. I've seen many come and go and I feel lonely at times. I suppose that so long as I can draw my accurate level's/zones on the charts, the gods will have a place for me. Just as the gods do for all of us.
Long
by ShrewdCatfx
Does "News" Impact Price Behavior? 🐒We can Observe that After the 1st Quarter of the Year, January-March the price of Eurusd has increased. Now As we near the middle of the second quarter, I can't help but visualize a Breakout. Price is currently sitting at 1.102. So far price has respected the Weekly Level at 1.106. The High for the first quarter was 1.103. We have now spent quite a bit of time at these extreme prices. I can often observe price using News//Data Releases on Lower time frames as a boost. A Boost of momentum in the preceding direction. I can observe 3 Potential News//Data Releases causing and becoming a Catalyst to leave a Large Trading Range. 1. NFP 2. CPI 3. FOMC Interest Rates. Will FOMC provide the Volume? Do we have enough Liquidity? Or may price dip from here back to our 1.086 Weekly S/R Zone before increasing any further? My Bias is Bullish moving into FOMC. Safe Trading Everyone. Not Financial Advice. Educational Purposes Only.
Long
by ShrewdCatfx
TOKEN TO WATCH | ICX | Sepolia Bridge Potential 24% TargetTOKEN TO WATCH | ICX | Sepolia Bridge Potential 24% Target There is still some time left in May for this news to take hold although it is a little irrelevant as this is opening the doors to some bigger potential. With usual biggish news announcements and launches we can see dumps although longterm it is only a positive and can see the price drive up. The complimenting factor here is that we are also seeing some pretty nice technicals lining up although need to wait for a break of the key trendline
Long
by Kryptochristian
5
Gold 4hr TF setup for CPI When considering CPI, a lower figure is preferred when buying assets such as gold, EUR, EURUSD, Cable, and indices. The weaker the CPI, the better it is for risk assets, especially those associated with hedging against the dollar. For instance, if there is a year-on-year 4.7% inflation and a month-on-month 0.2%, it would be ideal to buy indices and sell dollars because the data has outperformed. If the CPI is lower than expected, buying gold and selling dollars is a good option. Gold, GBP, EUR, and JPY are some of the assets that may be purchased in such a scenario. Indices such as S&P may move 30-40 points, while Wall Street may see a few hundred points move. Typically, any CPI figure before 4.8 or lower is considered a good data point. It is crucial to analyze the CPI figure excluding food and energy. Food and energy prices have rapidly increased in the last two years, making them an important outlier. However, we are starting to see food and energy prices normalize, and they have been coming down steadily over the last three to four months. If the CPI comes out at 5%, and food is at 5.5%, it is not a good number. The ideal situation would be to see continued decreases for six months. If there is a slowdown in one or two months, that is a problem. Currently, the Fed is still raising rates, which can aid in stabilizing prices. CPI inflation and rates are positively correlated.
TVC:GOLD
by ChartStrategist
Stubborn EURUSD protects 🛡️1.076 Daily Level FOMC Meeting Minutes is coinciding with a touch into our Daily Support Level that has held since last Thursday. It's almost been an entire week since the decline has been halted. Yesterday we created a publishing about a potential double bottom, but we may have jumped the gun so to speak. The market may have needed more time to accumulate long orders and trap short liquidity. The Market appears to keep banging its head stubbornly against our 1.076 Daily Level. This morning thus far we could observe a volatile 40 pip range between 1.0795 and 1.075. Day traders have been having a hell of a time. This market reminds me of the FOMC Interest rate announcement about 3 weeks ago. It was a volatile range and turned out to be the turning point in favor of the bears for Eurusd. The market used FOMC as a turning point recently and I think we may see another occurrence as the market shakes out Buyers and Sellers with this volatile price action. Similar to the CPI news shaking out weak sellers 2 week ago, this market may increase. The price is low but the Sellers don't look necessarily persistent in their effort to sell into the 1.076 Daily Level. The Buyers on the other hand are happy to go long at our Daily Support Level as it offers great risk to reward. Price is has made a new low during London but was quickly bought up at our pre-planned 1hr support zone 1.0749. I liken price to return to our 1.08125 Daily Level as we continue to see a volatile range and fight in the 1.07's for Eurusd. I've struggled in my scalping of Eurusd this week and attribute it to psychology. Trading psychology is a very large part of trading and requires constant attention. It must be managed properly and is a skill just as developing a profitable system that suits your personality. It takes time to understand your weaknesses and strengths as a trader. This week I've had a particularly difficult time managing my weaknesses. Time and Patience is the greatest warrior and so I will come back stronger at a later time. Safe trading.
Long
by ShrewdCatfx
Eurusd : Double Bottom [ Daily level 1.076 ] ⛽There is a good probability that Eurusd will create a double bottom structure at 1.07597 on the Daily Timeframe. Here on the 1Hr we can observe a Low formed at the bottom of structure and is bouncing hard. I am anticipating a sort of double bottom structure here on EU. EU is flat after PMI data was released. Data was expected to be generally good and it turned out to be mixed. -This news release lines up with a retest of our Daily Level 1.07597 -The recent 4Hr candle just closed at our 4Hr Support/ Daily Level 1.07597 with no bottom wick signaling to me that there is profit taking for the bear occurring. -After 1Hr of Price action the current 4Hr candle didn't hesitate and has just gone straight up. -The bottom wick for the new 4hr candle thus far has been very minimal. - The 1Hr Candle just closed bullish at our 1.078 1Hr Zone -Often times at the 7am PST candle you can observe a continuation of the previous trend . ( In this case confirmation of a bounce off our Daily level 1.076 -We have clean traffic on the 1Hr chart back up to 1.08 where we may run into some trouble in the short term More Analysis: I bought the low price around the time when the new 4hr candle was opening and earned nearly 1% on the account. I don't necessarily think going short at Support is a wise thing unless you really know what you are doing.
Long
by ShrewdCatfx
Lower Lows.. More Low Prices to end the Week? 🚠 Eurusd Eurusd is going down. Will it continue to go down is the question? We are at the Extreme Daily Level 1.08392 of our larger Range. The Daily Candle just printed almost exactly at our Level. Not above nor Below. Bear Market Structure still Maintains itself So long as a 1Hr candle doesn't print above 1.0872 on the 1Hr Timeframe. Unemployment Claims Data is expected to be positive for the USD during the Next NY Session. However the Unemployment Claims data since February has been increasing more and more as more people file for Unemployment. Not a good sign for the Workforce. Maybe this is is more of an excuse to buy our Reserve and Safe Haven Currency .. the U.S. Dollar. The News release may be the catalyst for a continuation of momentum to the downside + Another Lower Low printed in Market structure. The price I like for a weekly Bearish target is 1.07925 4Hr Zone Our Bullish Eurusd target for the end of the week is 1.0872 Daily level. We have our Level's plotted and will use Technical Analysis to create good Risk Reward Ideas. The market is random after all and we can only use our form of technical analysis to manage risk.
Short
by ShrewdCatfx
1