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EUR/USD Daily Forecast August 16thHello, This is the Daily forecast for the EU. The euro has been running wild lately and I don't think the market has stopped. Overall I am bullish on the EU and I think we will get a small pullback before move to the upside. I have set sells below 1.179 as I think it is a reasonable level to look for sells. We have a range and if we break out of this range I am looking for sells. Break of 1.18 will indicate for me to look out for buys. I have set out the final target for it to be 1.182 For the retest level I am looking out for 1.176 as I don't think we have properly retested the previous resistance now acting as a support. If the support doesn't hold I have set out premium buys level for 1.173, a potential market reversal level. Let me know in the comments what do you think about the euro? Best regards, LoneFX (CocoTradesFX)
by Lonefxer
GBP/JPY Daily Forecast 16th AugustHello traders, This is the Daily forecast for GJ. Lately we've had huge selling pressure on the market. I don't think we are done yet but very well would be. In my eagle eye I see us taping in to 149.5. But not today my friends. For today I have set 151.4 to 151.2 as the Premium buys area where I think the buying pressure will likely hit the market. Break of 151.516 would give me a indications of sells to 151.4. A small range to trade but I set it out anyway. I set out 151.642 to 151.740 as a no trade zone. I don't suggest to take trades there as there can be manipulation happening. Instead I set out break of 151.754 as my level to look for buys till 152.462. Let me know in the comments what do you think of GJ? Best regards, LoneFX (CocoTradesFX)
by Lonefxer
XAU/USD Daily Forecast 16th AugustHello traders, This is the Daily forecast for the gold. The gold had a very bullish week let's see if it will continue and will it tap into 1795. I see it as the main target right now. Break of 1782 indicates buys. I see if the market breaks this level it'll continue to go up for that 1795. As we have clean candles to the left. If the bullish momentum doesn't kick in, I marked up 1756.7 a potential retest level of this market. As on the higher time frame it was the last resistance now acting as a support. I am looking for sells if we get a break of 1776.5 to all the way down to 1757. For the premium buys I have set out 1746 as I think if we ever reach to that level it is very cheap to buy this market. Let me know in the comments what do you think the gold will do? Best regards, LoneFX (CocoTradesFX)
OANDA:XAUUSD
by Lonefxer
BOE Thursday, NFP Friday...The Dollar has derived little or nothing from the hawkish leanings of Fed’s Waller who argues that with inflation running well above the 2% target an announcement on taper could come in September for an October start, and the FOMC should do it early and fast in order to be in position to increase rates in 2022, if needed. In fact, the Buck is still on the back foot against almost all major counterparts and EM currencies, as the index continues to pivot 92.000 and skirt round numbers vs several G10 peers, like the Pound either side of 1.3900 in the run up to ‘super’ BoE Thursday and NFP the day after. Watch out for fridays impact and make sure to manage trades around the announcements.
by FTUKcom
3
The Bull Case for Bitcion - BITCOIN DOMINANCE Cup and HandleHere is what I am looking at for the potential bull case for Bitcoin in this volatile market. There is a Cup and Handle Pattern developing on ticker BTC.D aka Bitcoin Dominance. This tracks how strong Bitcoin is against all alt coins. If this breaks to the upside past the neckline, we could see a 13% pump to the upside against altcoins. This in turn could also pump Bitcoin ticker BTC to be clear, up 13% also. The price target for this potential long trade would be $49,000 - $50,000. If you are Trading any breakouts, always watch the volume. In a perfect world you will want to see a volume spike to confirm the breakout. Next issue is Throwbacks and the fact that a Tweet can influence the market. The narrative going around right now is that Bitcoin will start recovering after all the coordinated FUD is over with. A good indication that the narrative is changing is you will start to see some hype about Bitcoin and it should start winning some of those arguments. Especially, the electricity narrative and how much Bitcoin is actually mined using clean energy and how that will improve over time. If you like these updates give me a follow and a like and I'll keep calling it like I see it. And if you are wondering what the big read diamond is and yellow x's, I use Market Cipher. If you haven't seen anything about the creator of the indicator, go check out @CryptoFace on YouTube he is a legit trader using only this system to crush it. Good community too. - Flava
BITSTAMP:BTCUSDLong
by Flava4455
XRP Long Analysis This is what i'm looking at for XRP - Our medium term upside targets of $2.4 & $2.8 are still valid, we have had a break out of the higher time frame trend line and begun making our next move up. As you can see on the 4H timeframe we are in a upwards channel pattern which means there's a possibility of a pullback down to 1.15 region once the channel as played out - but first i'm expecting an upside move soon to the $1.8-$1.96 area. If price breaks through this resistance level, that's when we can see 2.4 and 2.8.
KRAKEN:XRPUSDLong
by JayE93
LEJ2021. Live Cattle Daily. In the golden pocket.Any dedicated live cattle traders, I would love to hear your take! If you are there is no need to read what I have below. You would probably find it very stupid. ------ I do not understand the fundamentals surrounding this market as far as when the high prices are. Doing a quick google search I see from the first image brought up that typically live cattle is falling right about now and getting ready to rebound. We have been rising steadily for a while, so I think it's safe to say the market is not behaving to expectation. That makes me a little uncertain, but I am falling back on TA entirely for any decisions here. I hate to buy anything before I see the momentum in my favor, but if I ever were to buy a zone, this wouldn't be a bad one. I have picked this apart thoroughly, and as non-biased as possible, and I think I did a really good job so I hope you enjoy. ------- One thing I notice is that whenever I say "this wouldn't be the worst" or "this wouldn't be a bad one" historically it has been a bad one. If this goes against me I will have to make some conscious decisions to change just a little in that department. ---------
CME:LEJ2021Long
by emehoke
All aligns for a GREAT BULL NAS The Pattern: From rising wedge to Double bottom, W shape at 30m, and consoliding vollume. Conquering the river of 13000 to break the resting and resume upward movement. The Controller: Fed are subjected to stay dovish on policy and neutral on rising yield, they only consider rising rate if all the indicators reflects which is still well below the target. In fact, Rising rate is fully projected as null prob. On the top of that, the unemployment and growth data is still low that further easy policy sustains through out extended period. The pressure from rising yield make investors tempting to more position of hedging as well as short so that the theme of sustainable low rate and ease policy could take advantages of hedging liquidity and eventually, lead the growth market to new record high. The Time: March and Aprill - The renowned month with historically best performance since 2002, up to 3.5% to 5% upward. Furthermore, the earning reports are ready to carry Year end (holiday), January effects (spending) both best quarter of the year. While The market points to high voltility, its clear sight that the more hedged and shorted it is, the higher and sooner the new record could be reached. The Nap: The Bear appears at the supercycle of February when it took a nice prediected 12% correction to the well achieved high of 12200 (which beautifully called) and quickly break the bearish trend with solid supportive W bottom. This gives a well- needed restful nap for NAS more sustainable record dated back to 5 months ago, and the liquidity that NAS confirms the readiness for another take of record high. This also matches the resting pattern primarily happening in February - after which NAS gradually surges with firm uptrend. The Play: the increasing yield seems the only factor for bear existing at the current market. One might argue its not going to fade at anytime soon; and the play of rotation out of tech shoud continue. However, The rule of game has changed quite drastically. The pandemic is here to stay and so does it effect to the economy. Thus projection of recovery could only be shortened by further gigantic stimulus bill to come. The scale of bill rather get bigger by the stance of Democracy. Eventually, the greater access of economy to larger circulation e.i. higher min wage with reopening on the horizon e.i. more training, recruiting probably triggers the nerve to shout out at inflation risks. Lo and behold, the speed of changing hand is different of inflated price. The CPI and PPI is reported absolutely under controll that inflation on the horizon is very likely outlier event. Furthermore, the reopening is actually one of a kind catalyst for NAS as the major of indices currently comprises those tech name expanding retail business and shipping towards consumer service provider. CONCLUSION: All aligns to one outcome. and the Wall-Street are well repared for this. well done Catie, 🐂 comes and best part of BULL to come with🌜🚀 Disclaimer: This idea is published as the sake of acknowledging one's opinion, not advising to take on any further position and risks. Traders should consider their own risk at any circumstances.
OANDA:NAS100USDLong
by Anaphie
Possible pattern in the overall marketThis is purely hypothetical. It appears a pattern has formed in terms of periods of heavy growth and periods of stalling growth. I was able to chart all 3 majors indices in aggregate thanks to @boji1 's post: What do you all think? Do you think the market will be choppy all year or do you think this apparent pattern will continue and we have another leg higher? Based on the last two cycles, the average return was 11.9% from the start of the growth period to the next rest period. Could see a 12% bounce back in the next 2 months.
TVC:SPX
by EBITDAtiger
7
SPY Hypothetical ScenariosPossible Hypotheticals are shown in the chart. A bounce and reclaim of 200MA is a great indication of a positive outlook for SPY. FIrst possible scenario is we bounce off the 390 level and head back down to support and trade within channel. Second possible scenario is we hold the 200MA and reclaim the 390 level, bounce off the previous level of 395, then proceed to ATHs. Obviously, this is very over-simplified. There are innumerable scenarios. Just posting this for personal reference as well as hear other people's thoughts on the market.
AMEX:SPY
by Brettcorr64