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GOLD LONG TO 1887Gold is currently trading inside a tight range and near to completion of its final wave (Wave 5) before we see a market reversal back down towards 1828. Another way to confirm that this is wave 5 and we're close to reversal is monitoring price action and the momentum of buys. We can see that price has now slowed down after a very strong uptrend and buyers are failing to push price any higher with the same momentum we had the previous 2 weeks. Also, with DXY (Dollar Index) gaining strength and trading towards a yearly high, Gold being a negatively correlated market in return should go down. We now have confirmation that Tapering is going ahead over the next few months which will decrease the demand of Gold against the Dollar. I will be catching this move on behalf of myself and my Account Management investors within my fund.
SAXO:XAUUSDShort
by BA_Investments
XAUUSD SHORT TO 1828 (Corrective Wave)I am currently shorting Gold down to 1828. This move down is simply a corrective wave (Wave 4) as we still have one more impulse move to the upside (Wave 5) in order to complete the current bullish structure. After the move down I will be looking for long positions back up towards 1889 in order to fill in the imbalance created from the Gold drop back in June. I will be catching this move on behalf of myself and my Account Management investors. All my socials are listed below.
FOREXCOM:XAUUSDShort
by BA_Investments
EUR/USD - A Major Break LowerThe dollar rallied strongly on Wednesday after data showed inflation rose to a 31-year high in the US. Coming on the back of Friday's fantastic jobs report and the 20-year high in the quarterly employment cost index the week before, this doesn't bode well for a Fed intent on being patient on raising interest rates. The central bank has repeatedly stated its belief that inflation is transitory. It may have to amend this language soon as it's neither fading fast nor remaining remotely close to target, which makes the central bank's argument harder for investors to believe. Markets aren't waiting for guidance. Today's data may have been the final straw and they're pricing in more rate hikes next year. The dollar has broken higher, pushing EURUSD to its lowest level since July last year. The next test for the pair falls around 1.14, where the bottom of the channel coincides with prior support and resistance. Below here 1.12 will be a major support level. If the pair corrects, 1.15-1.1550 is the obvious first test with it having been such a key level of support this past month.
by OANDA
USDJPY Bull Scenario - STRONG NFP Data expected tomorow Hello Traders Here is a new BUY Scenario, USD/JPY Consolidating, Yen bulls but may quickly turnaround tomorrow in the event of strong NFP data. - Yen shows signs of long-term vulnerability. - Focus on upcoming Non-Farm Payroll (NFP) data. - Possible bullish continuation pattern - 114.00 level key. Forecast : Strong NFP may push USD up, No big drop until 115.600 💹USD/JPY BUY STOP ✅ Entry @113.600 or above ✅TP-1# 113.800 ✅TP-2# 114.000 ✅TP-3# 114.200 ✅SL# 112.900 JamdeJam will not accept any liability for loss or damage as a result of reliance on the information contained within this channel including data, quotes, charts and buy/sell signals
Long
by jamdejam
2
USDJPY Going UP Strongly - Positive Nonfarm Payrolls Forecast Hello Traders Here is a new BUY Scenario, October's Nonfarm Payrolls are set to show an increase of 425K after two disappointments. - Yen shows signs of long-term vulnerability. - Focus on upcoming Non-Farm Payroll (NFP) data. - Possible bullish continuation pattern - 114.00 level key. My Forecast : Strong NFP may push USD up, No big drop until 115.600 💹USD/JPY BUY STOP ✅ Entry @114.000 or above ✅TP-1# 114.200 ✅TP-2# 114.400 ✅TP-3# 114.600 ✅SL# 113.400 JamdeJam will not accept any liability for loss or damage as a result of reliance on the information contained within this channel including data, quotes, charts and buy/sell signals
Long
by jamdejam
XAUUSD TO 1796On Friday we saw Gold price shoot higher on the back of NFP data creating a weekly high. We have an unmitigated zone between 1806-1794 which still has to be filled before a further move up towards 1872. I am expecting a correction now, since the new impulse, Wave 1 of the Elliot Wave Theory is about to complete around 1823-1827. This is a HIGH RISK TRADE as market was extremely bullish towards the end of last week. I will be catching this move on behalf of myself and my Account Management investors.
FXOPEN:XAUUSDShort
by BA_Investments
1
XAUUSD 1D TF : 06.Nov.2021 (Update)Well, as we see, the price was finally able to break its dynamic and static resistance at the same time and close above the $ 1817 level, we expect the price to rise to the $ 1827 level after a retest and then to $ 1833 if the channel midline resistance breaks ... failure of these levels will not be easy .... Follow our other analysis & Feel free to ask any questions you have, we are here to help. ⚠️ This Analysis will be updated ... 👤 Arman Shaban : @Ar_M_An_4 📅 06.Nov.2021 ⚠️(DYOR)
OANDA:XAUUSDLong
by ArmanShabanTrading
1
XAUUSD 1H TF : 06.Nov.2021 (Update)The price hit the target nicely and corrected to the level of $ 1785 and then reacted positively to our static range, which was also an important Breakeven, and started growing again ... The result of this analysis was +80 pips yield . The main analysis will be updated with the start of the new trading week. Follow our other analysis & Feel free to ask any questions you have, we are here to help. ⚠️ This Analysis will be updated ... 👤 Arman Shaban : @Ar_M_An_4 📅 06.Nov.2021 ⚠️(DYOR)
OANDA:XAUUSDLong
by ArmanShabanTrading
Pound's woes continueThe British pound has extended its losses in the Friday session. GBP/USD is currently trading at 1.3445, down 0.41% on the day. It's been a miserable week for the British pound, which is down 1.76% this week. The driver behind the pound's slide was the BoE meeting, as policy makers caught the markets off guard when they opted to maintain the cash rate at 0.10%. Governor Andrew Bailey had strongly hinted that that bank would raise rates at this week's meeting, but in the end, the MPC voted 7-2 to stay put, with Bailey among the majority. Bailey noted that the decision had been a "close call", but the markets reacted sharply, with the pound plunging 2.2% since the BoE's surprise non-move. The BoE has said it will raise rates in the "coming months", but is clearly under pressure to make a move soon, and it could be faced with a credibility issue if it chooses to sit on the sidelines at the December meeting. The fact that the BoE is still running a QE scheme while talking about raising rates is also a potential source of confusion for the markets, as the two programmes are inconsistent with each other. In contradistinction, the Fed has no plans to raise rates before it winds up its bond purchase program. Attention now shifts to the US, with the release of nonfarm payrolls later today. The consensus stands at around 450 thousand jobs added, and a reading above the 500 thousand level will reignite talk of an accelerated taper programme and possibly the Fed bringing forward guidance on a rate hike. That would likely give the US dollar a boost. Conversely, a print below 350 thousand will dampen rate expectations and likely weigh on the greenback. GBP/USD continues to break support levels as it falls lower. The pair is testing support at 1.3471. Below, there is monthly support at 1.3253 There is resistance at 1.3570 and 1.3632
by OANDA
How to trade at NFP? Usually, average hourly earnings don't print positive. I have seen very few times NFP and Hourly earnings published positive together in the last 13 years. When companies hire more people, it's expected that they don't want to pay more and overtime. But, on the other side, companies don't recruit new people, and then they pay more overtime to their existing workers. That's why most of the time, we see Either NFP prints post or hourly earnings. Hourly earning is essential for the following CPI report. I mean, inflation reports are related to hourly earnings. NFP is the main report; there is no doubt. But in some cases, hourly earnings and unemployment play a significant role than the NFP. Moreover, especially when central banks want to raise rates, in the meantime inflation is essential. Central banks need more than 2% inflation to raise bank rates. In that case, hourly earnings are more important than NFP. So, it is expected that NFP will print positively than the previous report today, and hourly earnings may not fulfill its forecast. But last CPI reports were positive, So, it won't be wrong as well. What to do while you are trading NFP? When central banks are not hiking bank rates market always follows NFP. Whatever the other's reports are. If NFP print is upbeat, we should buy the USD. But keep in mind, though NFP reports are printed positive, hourly earnings and unemployment may drop. It is essential to keep in mind always that the market follows NFP eventually, not initially. So, if other reports print negative, The USD will become weak first. Then, after 5 minutes or 15 minutes, the USD will follow NFP from any swing area. On the other hand, If other reports prints positive but NFP report prints negative. In that cases, the USD will spike to the upside, but ultimately it will drop. Just keep in mind the situation that central banks are in rate-hiking mode or not. So give priority hourly earnings reports when the central banks are in rate-hiking mode. And usually, give priority NFP reports every time. How To Handle Technically While Trading NFP? If you want to handle the market at NFP, you should know swing trading and the uses of Fibonacci retracement and Fibonacci extension. Use 5 minutes candle. For example, the market closed with 5 minutes bearish candle, NFP printed negative, and other reports printed positive. So, the USD will spike to the upside first. So, if you are good at swing trade, you can sell from the swing area. Otherwise, you should use Fibonacci tools. If the market closed with a bearish candle, that means it will correct to the upside nearly 50% fibo area. So, go short from fibo 50% area and use Fibonacci extension tolls to set your take profit area at 61.8%. Just do opposite things if NFP prints positive and other reports prints negative.
TVC:GOLDEducation
by Gold_Trading_Expert
1
Has The USD Avoided The Dreaded Taper Tantrum?With its back up against a wall, the US Federal Reserve has pledged to begin tapering its asset purchase program. Beginning later this month, the Federal Reserve will reduce the number of US Treasury Securities it purchases each month by US $10 billion and the number of Mortgage-Backed Securities by US $5 billion. How did the USD react to the Federal Reserve announcement? By all accounts, a dreaded ‘taper tantrum’ has been avoided in the wake of the announcement. At least in relation to the forex market. Federal Reserve chairman Jerome Powell has been extremely careful to prime investors for this moment. For one, all hawkish commentary from the chairman has been mediated with dovish caveats. Admittedly, less senior Federal Reserve officials have done much of the leg work in hinting and out-right suggesting the need for a reduction in its purchases. Either way, the conversation surrounding tapering has been sustained for months, giving investors time to mull over the implications. As of writing, the USD index, the DXY has crossed back over the 94.00 mark and comfortable sits 94.33, up 0.53% since the Federal Reserve’s tapering announcement. Will the Federal Reserve continue to taper? The Federal Reserve will still be purchasing $105 billion worth of securities, with further reductions dependent on continuing favourable economic outlook. The Federal Reserve has indicated it is considering reducing spending, month over month, moving forward. However, if economic conditions deteriorate, the spending reductions could be nullified or reversed. The Federal Reserve will be keeping an eye on inflation and the number of jobs added to the economy each month. Inflation remains at a decade high A significant consideration of the Federal Reserve when determining its reduction in spending is the US inflation rate. While it is at a 13-year high, the Federal Reserve maintains that most of the inflation experienced heretofore is temporary. Octobers inflation number is released next Wednesday. Trading Economics is forecasting a 0.1% increase in US inflation. Up next: Non-Farm Payroll Another significant consideration of the Federal Reserve when determining its tapering is the Non-Farm Payroll (NFP). The NFP indicates how many non-farm jobs were added to the economy in a given month. The data for the October non-farm payroll will be released tonight to great anticipation. Trading Economics is forecasting 400K jobs, while the market consensus is a little more optimistic and is forecasting 450K jobs. The NFP has disappointed for the past two months, with actual job figures falling far short of the numbers predicted. Even so, the Federal Reserve has seen fit to begin tapering as job growth seemingly slows. Treasury Security Janet Yellen noted the US economy is still short 5 million jobs compared to pre-pandemic times, which will take the US years to recover at the current rate of job growth.
TVC:DXY
by BlackBull_Markets
XAUUSD 1H TF : 04.Nov.2021The previous analysis performed in 2-hour timeframe is still valid. This analysis is just a closer look at the previous chart. Given that the price has reached a significant static range after the Break of its dynamic resistance and has reacted negatively to it, I expect the price to fall again to the level of $ 1782 if the price does not stabilize above $ 1797. Follow our other analysis & Feel free to ask any questions you have, we are here to help. ⚠️ This Analysis will be updated ... 👤 Arman Shaban : @Ar_M_An_4 📅 04.Nov.2021 ⚠️(DYOR)
FOREXCOM:XAUUSDShort
by ArmanShabanTrading
1
Gold consoldating higher prior to NFP?OANDA:XAUUSD typically has little to no movement the day before NFP (non-farm payroll) So I wouldn't expect large moves today but I do see a perfect breakout pattern today and the larger timeframes show the momentum towards the bullish side. Also gold has been consistently bouncing between these price ranges with the current range being on the low side. I would recommend finding a good entry then closing out today before NFP because there's usually a stop hunt along with a huge push. Keep your eyes open and as always use a Stop Loss This is the breakout pattern I mean
OANDA:XAUUSDLong
by JakeBrandonCastro
EURSD AHEAD OF NFP (SHORT SETUP) USD could the dollar index be getting back on its feet. Fourth-quarter early bullishness could be setting in early to set tone for early sessions come 2022 first quarter. I am bullish on the dollar index. Technically I am looking to go long long on a long-term basis. USD could be setting itself up to justify the move going down following my observations of the dollar index, the dollar currency index is observed to have its own technical fulfillments that it should make on a long-term basis based on the strategies that I apply What do you think could be the next move or what do you have within your analysis of the same currency pairs that I just mentioned do you agree with my point of view or request a zoom meeting for further elaboration in here where I come from as far as my analysis is concerned happy trading first week of November thank you
Short
by Alpha_vuma
GBPJPY BUY ANALYSIS • market haa formed an upward trendline for the past months and has come back to respect it 7 times • earlier this month it respected it again and impulsed up and then during this month it lost some momentum, formed a corrective move and changed direction for a short period of time • at the end of last week it broke above a previous HIGHER HIGH and it was retesting it • there is two possible entries here, 1 at the new found level of support (BULLISH ENGULFING M30) which was a previous resistance or 2 when the corrective move breaks out to the upside • but then again this is the forex market anything can happen so we adapt when there's any change in our predictions GREAT SUCCESS!!!
Long
by K0KETSO