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USD/JPY – Retesting key resistance before declineThe market is undergoing a correction after breaking its bullish structure. The weakening US Dollar (USD) has created favorable conditions for other assets, including the Japanese Yen (JPY). USD/JPY is currently retesting the previously broken trendline following a strong downward impulse. On Thursday, the Yen reached its highest level in 10 weeks, pushing USD/JPY down to 149.5. Escalating trade tensions driven by Donald Trump’s aggressive tariff policies have led investors to seek safe-haven assets. Additionally, expectations of a Bank of Japan (BoJ) rate hike have further strengthened JPY’s position in the market. In the short term, USD/JPY may continue a corrective rebound, testing the 0.618 - 0.5 Fibonacci retracement zone before resuming its downward movement.
Short
by Bentradegold
Latest gold update today: Price continues to increase stronglyJames Hello everyone! Currently, gold prices are entering a bullish consolidation phase as Trump tariffs weigh on risk sentiment. The US dollar is struggling to hold despite the dovish Fed Minutes as US Treasury yields decline. Currently, gold prices are waiting for acceptance above $2,950 as the daily technical setup favors buyers. As mentioned on the 1-hour chart, an ascending trend line has formed along with the support of the 34 and 89 EMAs, suggesting further upside potential for gold without any significant reversal.
OANDA:XAUUSDLong
by Trader-JamesFX
XAUUSD gains traction above 2876James, hello everyone. Last week, we saw a significant drop in gold prices. At one point, the price of gold fell to a low of $2,876. Currently, the price of gold is trading around $2,898, stable for the week. It is clear that the price of gold is starting a new week on a positive note, supported by the continued weakness of the US dollar (USD) and US Treasury yields. Regarding the volatility of gold this week, the price of gold has also increased sharply due to tensions surrounding the upcoming tariff war between the United States and the European Union (EU). "The European Commission will consider strict import restrictions on some foods produced according to different standards to protect its farmers, reflecting the reciprocal trade policy of US President Donald Trump," the Financial Times (FT) reported on Sunday. Additionally, it should be noted that gold prices could be volatile in the coming day as a US national holiday is likely to add to the action. Speeches by Fed officials Christopher Waller, Patrick Harker and Michelle Bowman will be closely scrutinized ahead of the Fed Minutes on Wednesday.
OANDA:XAUUSDLong
by Trader-JamesFX
3
GBPUSD: Buy or sell?Hello dear friends! What do you think about GBP/USD? GBP/USD is holding steady after two consecutive days of losses, trading around 1.2590 during the Asian session on Thursday. However, the pair remains under pressure as concerns over tariffs from U.S. President Donald Trump continue to support the U.S. dollar. On the chart, the price has successfully broken the ascending trendline, and after testing a strong support level, it is now retracing against the trend to test liquidity. Currently, GBP/USD is consolidating below the broken support, indicating strong selling momentum and a likely continuation of the downtrend. Given the current market structure, we are waiting for a small consolidation phase below the broken support before the next leg of the downward move resumes. Don't forget to like and share your thoughts in the comments!
Short
by Trader-JamesFX
Opening (IRA): TQQQ March 21st 69 Covered Call... for a 67.07 debit Comments: Not finished with March yet ... . Taking less risk here than I would ordinarily do to give me more room to be wrong, selling the -84 delta call against shares to emulate the delta metrics of a 16 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 67.07 debit Max Profit: 1.93 ROC at Max: 2.88% 50% Max: .97 ROC at 50% Max: 1.44% Will generally look to take profit at 50% max, add at intervals if I can get in at break evens better than what I currently have on, and/or roll out my short call if my take profit is not hit.
NASDAQ:TQQQLong
by NaughtyPines
Gold extends bullish trend, targeting key resistance !Gold continues to sustain its strong bullish momentum, approaching a key resistance level with solid support from U.S. tariff uncertainties and strong central bank demand. The primary trend remains intact, reinforced by the trendline and EMA 34-89, signaling that the market is operating within a stable upward channel. With growing expectations that the Fed may cut interest rates in 2025, investor sentiment continues to favor trend-following buy strategies. As prices remain close to dynamic support levels and above key moving averages, prioritizing trend-based trading remains the optimal approach — because in trading, the trend is always your most reliable ally.
OANDA:XAUUSDLong
by Trader-JamesFX
2
Gold turns cautious, awaits US-Russia talks, FedspeakJames greets everyone! Gold prices continue their upward momentum today, currently trading around $2,908, building on the previous recovery. However, gold buyers are turning cautious amid a broad-based rebound in the US Dollar, as markets prepare for the much-anticipated bilateral talks between the US and Russia in Saudi Arabia. From a technical perspective, gold has surged strongly after confirming support at $2,895. However, it is still too early to establish gains above the $2,910 resistance level. As a result, it wouldn’t be surprising if gold buyers continue to look for opportunities around support levels or liquidity zones within the Bollinger Bands. If this scenario unfolds, we could soon witness a new record high of $2,943, as indicated on the 4-hour chart. I remain strongly bullish on gold for the upcoming week. Once the current resistance level is broken and establishes new support, nothing will be able to stop gold from climbing even higher. What are your thoughts on this outlook?
OANDA:XAUUSDLong
by Trader-JamesFX
Opening (IRA): SOXL March 28th 20 Covered Call... for a 18.91 debit. Comments: I wanted to take advantage of this little bit of weakness here, but at less risk than what I ordinarily take, giving me more "room to be wrong." Here, selling the -84 delta calls against shares to emulate the delta metrics of a 16 delta short put, but with the built-in defense of the short calls. Additionally, it's at strikes better than what I currently have on ... . Metrics: Buying Power Effect/Break Even: 18.91 Max Profit: 1.09 ROC at Max: 5.76% 50% Max: .55 ROC at 50% Max: 2.88%
AMEX:SOXLLong
by NaughtyPines
2
USDJPY: What's changing at the start of the week?The Japanese Yen (JPY) sticks to its strong intraday gains in the wake of a strong domestic Gross Domestic Product (GDP) print, which reaffirmed bets that the Bank of Japan (BoJ) will hike interest rates further. Furthermore, the narrowing of the US-Japan rate differential turns out to be other factors underpinning demand for the lower-yielding JPY. Apart from this, the prevalent US Dollar (USD) selling bias keeps the USD/JPY pair depressed just above mid-151.00s, or near a one-week low touched during the Asian session earlier this Monday. That said, concerns about US President Donald Trump's reciprocal tariffs might hold back the JPY bulls from placing aggressive bets. Moreover, the growing acceptance that the Federal Reserve (Fed) would retain its hawkish stance and keep interest rates on hold for an extended period acts as a tailwind for the USD, which, in turn, helps limit losses for the USD/JPY pair. Nevertheless, the fundamental backdrop seems tilted in favor of the JPY bulls and suggests that the path of least resistance for the currency pair remains to the downside.
Short
by Trader-JamesFX
2
USDJPY: Selling strategy continues to be the priority!James Hello everyone! USDJPY is still moving in the right direction today, once again going through a corrective phase with the downtrend still intact and the EMA 34 - 89 showing no significant signs of reversal, signaling a potential further decline. Personally, I remain steadfast and continue to wait for the main pair to decline with the expectation that the price will soon reach the main target of 151.40 or further if the sellers consolidate below this level.
Short
by Trader-JamesFX
EURUSD: Attempting to change the trendHello dear friends, Ben here! Currently, EURUSD is attempting to capture recovery due to the dollar's adjustment. The price is forming a reaction from the resistance channel consolidation before breaking out and growing further. Accordingly, after breaking through the trend channel resistance level, the price has moved into a consolidation phase around the range of 1.053 to 1.021. Within this, the price is testing the resistance level of 1.038. From this, we can argue that the market is still working to change its trend and become stronger against the dollar's adjustment. Resistance levels: 1.038, 1.053 Support levels: 1.033, 1.021 Emphasizing the resistance level of 1.038, with confirmation of consolidation above this level, there will be nothing stopping EURUSD from further growth. Best regards, Bentradegold!
Long
by Bentradegold
USDCHF: The battle of 0.9000 - Sell or wait?Hello everyone, Ben here! USDCHF previously broke its uptrend as the fundamental landscape shifted, and the dollar entered a correction phase. Clearly, sellers are in control, as illustrated on the chart. Fundamentally, the situation is becoming more complex due to the tariff war initiated by Trump, with European countries responding in kind. Economic risks are rising. Additionally, with rumors of rate cuts from Trump and Powell, the dollar has entered a correction phase, which has had a positive impact on the forex market. From a technical perspective, the 0.9000 level plays a crucial role, as it represents a strong zone. If sellers manage to keep the price below this level, within the selling zone, it will confirm further downside movement. I also cannot rule out the possibility of a retest of the previous breakout range before a deeper decline. Emphasizing the 0.9000 level! Best regards, Bentradegold!
Short
by Bentradegold
Market Update: Nifty Faces Bearish Pressure, 17-21st feb Nifty closed at 22,929 this week, marking a decline of 630 points from the previous week's close. The index reached a high of 23,568 and a low of 22,774. As highlighted in my previous post, the bearish sentiment in Nifty remains intact, as both the monthly and weekly timeframes show negative trends. Until there is a significant reversal on these timeframes, the bearish outlook is expected to continue. Looking ahead to next week, I anticipate Nifty will move within a range of 23,450 to 22,400 . The 22,300/22,400 zone offers strong support, and if this level is breached, we could see Nifty heading towards the 21,800 levels. Given this volatility, Nifty might not be the ideal index for small investors, particularly those heavily invested in mid and small-cap stocks. Let’s now take a closer look at the mid-cap and small-cap indices. The Mid-Cap Index is currently near its key support level of 48,700 on the monthly chart. If it manages to hold this support next week, a potential reversal could follow, offering some relief to investors. On the other hand, the Small-Cap Index is still far from its crucial support of 14,500, which suggests that we could witness further downside of 4-5% in this segment . This could add more pressure on small-cap stocks, which are already facing a tough environment. On a global front, the S&P 500 has finally broken through the strong resistance at 6,100 and closed above this level. If it manages to sustain above 6,100, we could see it reach 6,225 or even 6,376. This could potentially provide some tailwinds for the Indian markets, but for now, it seems that the Indian market remains under the tight grip of bearish forces. In conclusion, while there are some signs of potential recovery in specific indices, the overall sentiment remains cautious. Investors should stay vigilant, especially in mid and small-cap segments, as the road ahead could be bumpy.
NSE:NIFTYShort
by ssudhirsharma11
Opening (IRA): IBIT March 21st 49 Covered Call... for a 47.32 debit. Comments: Adding to my positions at strikes/break evens better than what I currently have on, selling the -75 delta call against shares to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 47.32 Max Profit: 1.68 ROC at Max: 3.55% 50% Max: .84 ROC at 50% Max: 1.78% Will generally look to take profit at 50% max, add at intervals, assuming I can get in at strikes/break evens better than what I currently have on, and/or roll out the short call should my take profit not be hit.
NASDAQ:IBITLong
by NaughtyPines