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XAUUSD potential movement and entry1) NEWS TO NOTE: THE FEDERAL RESERVE AND THE BANK OF ENGLAND INCREASED INTEREST RATES BY 0.75% EACH WHICH STRENGTHENED USD AND GBP WHICH IS BAD NEWS FOR GOLD. JEROME POWELL (CHAIRMAN OF FEDERAL RESERVE GAVE A VERY HAWKISH SPEECH A COUPLE DAYS AGO IN WHICH HE AFFIRMED THAT INTEREST RATES WILL BE RISING WHICH ALSO STRENGTHENED USD) TODAY (FRIDAY 4TH) US NONFARM PAYROLLS CAME OUT WITH BETTER THEN EXPECTED DATA ABOUT US EMPLOYMENT MORE EMPLOYMENT →MORE PEOPLE IN ECONOMY →MORE MONEY IN CIRCULATION →MORE INFLATION → MORE REASON FOR FED TO INCREASE INTEREST RATES → STRONGER USD → WEAKER XAUUSD 2) UPCOMING NEWS TO NOTE: THURSDAY 10TH NOVEMBER CPI (upcoming September US inflation report) →THIS WILL EFFECT GOLD BECAUSE IT EFFECTS USD Stubborn readings could translate into sustained elevation in Feds rate hike odds (sustained higher interest rates). While this would be good news for the US Dollar, it will likely be bad news for US stocks and gold prices. 3) TECHNICAL ANALYSIS I expect the price to have a short drawback towards the primary resistance line, however, the primary resistance line (top resistance line) is unlikely to be tested (touched by price) due to the bullish momentum of gold. Then I expect gold to continue on its uptrend. If the primary resistance line is tested, it would be an excellent entry with a risk to reward of 1:2. If it is not tested, i wouldn't advise a buy order, unless there is candle patterns and chart patterns which suggest a strong bullish momentum (for example a engulfing candle or a 3.82 candle or a close above candle. In the past couple of days there has been higher lows and higher highs however this is only intraday, and over a bigger time-frame gold is bearish. Notes: PlEASE GIVE ME FEEDBACK I WOULD APPRECIATE IT SO MUCH TRADE WITH CAUTION HAVE A GOOD DAY THANKS SNIPER
FXOPEN:XAUUSD
by haadimilli
2
Bitcoin BTC Crypto Trying to Break Major Support line Bitcoin BTC Crypto is trying to Break thru the biggest resistance line yet $21,043. This resistance line was formed from a Head & Shoulders Pattern from the all time high which broke down and brought in this Bear Market. Additional Bullish Patterns have formed waiting to be fulfilled sending us to the following price points: Oct. 13, 2022 Bullish Falling Wedge Pattern +231% $61,764; Oct. 13, 2022 Bullish Falling Channel Pattern +121% $41,737; Oct. 25, 2022 Bullish Falling Wedge +33% $25,535; (Pending) Bullish Raising Triangle +7% $22,692 Pending Patterns price points; Oct. 13, 2022 Bullish Falling Wedge Pattern +231% $61,764; Oct. 13, 2022 Bullish Falling Channel Pattern +121% $41,737; Oct. 25, 2022 Bullish Falling Wedge +33% $25,535; (Pending) Possible forming a Bullish Raising Triangle +7% The Market currently wants to go up....................... This current pattern forming will set the path
BITSTAMP:BTCUSDLong
by C-J_
1
GBPNZD testing support + newsPrice is testing the support for the 4th time, such as MACD. We can see the columns in MACDS indicator losing power, and the line crossing each other. About candles we've a three inside up after testing the support, show us a bullish signal. And to conclude the Reerve Bank of New Zeland says "economy will slow as rising rates curb consumption", the houses prices are still expensive; and this morning in NZ we had data about unemployment and employment, and: Unemployment: 3,3%, higher thand expected (3,2%). They though the rate was lower than last Q, but is the same as the previous and higher than expected. Employment: Higher than expected with a change of 1,3bp and the forecast was 0,5% --------------------------------- Dont forget about yesterday: BOE made a £838b stimulus and sold £750m of gilts
Long
by AFCapital21
EURUSD before FED Today, we have news that will determine the next move on the dollar. There is a higher probability for a strong USD but the market could also surprise us and that's why it will be probably best to trade after the news. The main sell scenario would be to wait for price to reach the parity level and leave a rejection wick there. However, if it reaches the parity level with a bullish impulse and it doesn't show rejection, we won't be looking to sell! We may see tricky moves in both directions and that's why we need patience!
by ForexTrendline
2
Trading the FOMC MeetingTomorrow we have another FOMC meeting. In 2022 we've seen ~3% moves during and/or by end of next day (shown on chart). In my opinion (not financial investment advice)... There will be an initial move and then a rip in the opposite direction for a big move, as has happened in the past. As bearish the economy is and I am personally, we may hear pre-midterm political "pivot" talk to drive markets up for voters. That said, tomorrow we could see a fast move lower followed by a rip up to ~4100 to fill that gap you see in the chart. Whatever happens it will be extremely volatile. Keep your stops tight and/or entry's accurate. What you'll see on the chart is a gap indicator along with a market breadth indicator. We're finishing up these 2 free indicators and will be posting them for people to use very soon. Good luck trading!
SP:SPX
by QuantVue
3
Fundamental Analysis in Forex Trading Economic indicators and announcements are an essential part of fundamental analysis. Even if you’re not planning on finding trades using fundamentals, it’s a good idea to pay attention to how the overall economy is performing. Here’s a cheat sheet covering six key indicators and announcements to watch out for. 1. Non-farm payrolls (NFP) The non-farm payrolls report estimates the net number of jobs gained in the US in the previous month – excluding those in farms, private households and non-profit organisations. 2. Consumer price index (CPI) The chief measure of inflation is the consumer price index, which measures the changing prices of a group of consumer goods and services. 3. Central bank meetings As we’ve seen, most traders follow economic figures so they can anticipate what a central bank might do next. So, it only makes sense that we pay attention to what happens when they actually meet and make decisions. 4. Consumer and business sentiment reports Multiple organisations are constantly surveying consumers and business leaders to create sentiment reports. While the number of reports they produce is staggering, they all play their part in shaping the markets’ expectation for the future. 5. Purchasing manager index (PMI) Purchasing manager indices measure the prevailing direction of economic trends in a given industry, according to the view of its purchasing managers. They are used as an indicator of the overall health of a sector. Pay close attention to these fundamentals. They play a crutial role in trading.
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OANDA:XAUUSDEducation
by UnitedSignals
13
very strong sginal for long postion EUR/USDwow depend on our deep analysis in news and indecators >> we found very good apportonatiy for long postion as you see in the chart the price borke downtrend and moving up also today the price make backtest for the trend and keep moving up so in this condition the price confirm long moving also you see in rsi indecator the price broke 50 line so this very good signal for long moving and in adx indecator you see the price broke 20 ine and also ad+ and adx line moving up 20 line this very good signal for long moving in the end we advice our investor to open long postion and take profit to ema 200 on daily time frame this postion 1.5 reward ratio / see the postion on the chart
Long
by MSD_trading
2
Important news for EURUSD Today we have ECB Interest Rates decision. We should see them going up by 0.75%. No matter what will be the bank's decision, we're going to see big moves on EURUSD. We could see more bullish pressure on EURUSD, but we have to keep in mind that FED is also coming out with their decision soon. That means, whatever upside move we see today, it could reverse pretty soon. That's why, we think the best decision today would be to wait for the news and look for entries after that. Also, price reaching higher levels will only give us a better sell opportunities.
by ForexTrendline
4
NZX to end 2022 with strong headwindsNew Zealand's stock exchange (NZX) could be facing strong headwinds toward the end of 2022 as third-quarter inflation figures suggest an 75-basis-points hike in the central bank's Official Cash Rate (OCR) in November. In anticipation of the Reserve Bank rate decision earlier in October, the S&P/NZX 50 fell 106.3 points or -1% to 10,959.71. A similar scenario could happen again in the lead up to the November rate decision. While the index, indeed, recovered following the announcement of the third-quarter inflation figures for the country, it was largely due to strong overnight rally in the US. However, It did not entirely dissipate concerns that a further interest rate hike is fast approaching, potentially adding uncertainty to an already volatile market. NZX's reaction to rate decisions and inflation figures Following the announcement of the third-quarter consumer price index for New Zealand, the S&P/NZX 50 index rose 61.4 points or +0.57% to 10,847.34. The strong overnight rally in the US helped offset the reveal of a marginal decline in inflation figure to 7.2% from 7.3%. The index fell 55.8 points, or -0.51%, to 10,817.23 in the lead up to the announcement of the inflation figure, proving that if not for the strong overnight rally, closing results for the index would have been very different as a still-high inflation number was expected to dampen sentiment and market activity. The inflation data has elicited expectations for a 75-basis-point hike in the official cash rate when the Reserve Bank of New Zealand makes it monetary policy decision in November. A hike above 50-basis-points is all but guaranteed. "If interest rates move higher, stock investors become more reluctant to bid up stock prices because the value of future earnings will look less attractive versus bonds that pay more competitive yields today," explained Rob Haworth, senior investment strategy director at U.S. Bank Wealth Management. "If higher rates are anticipated in the future, the present value of future earnings for stocks are reduced. If this occurs, it may put more pressure on stock prices," he added. Most sectors emerge as losers when interest rates are increased, except for some exceptions such as the financial sector. As such, the Finance is the NZX’s leading sector for the previous 3 months, racking up gains of +11.34%. Only three other sectors are in positive territory for this time period; Consumer No-Durables (+6.97%), Transportation (+2.74%) and Communications (+1.39%). What awaits the NZX? The further rate hike to 4.25% as almost a certainty at this point. At least two Reserve Bank committee members already expressed they are in favor of a 75-point rate increase. ASB Bank analysts are even expecting the upcoming rate hike to be followed by two more 50-point increases early in 2023 for an expected official cash rate peak 5.25%. Economists from the Australia and New Zealand Banking Group are joining the consensus for the rate hike in November and adds that a similar decision is anticipated in February 2023. "Both hikes are contingent on global financial markets keeping it together," said ANZ economist Finn Robinson and chief economist Sharon Zollner.
TVC:NZ50G
by BlackBull_Markets