FOMC and Powell support GOLD, bearish outlook still prevailsOANDA:XAUUSD Spot trading rose nearly 2% yesterday when the Federal Reserve cut interest rates by 25 basis points as market predicted, causing the US Dollar to plunge and giving gold a boost.
The Federal Reserve cut its benchmark interest rate by 25 basis points on Thursday, while policymakers noted a "broad deterioration" in the job market. Officials voted unanimously to lower the federal funds rate to a range of 4.5%-4.75%. Federal Reserve Chairman Jerome Powell said Trump's presidential election victory will not directly affect monetary policy.
Federal Reserve interest rate cuts have put pressure on the US dollar and bond yields, while boosting the investment appeal of non-yielding gold.
FOMC content
In their monetary policy statement, officials acknowledged the economy is growing steadily despite slowing labor market conditions. They admitted inflation was close to the Fed's 2% target but still remained slightly high.
Fed policymakers also noted that the risks to achieving their dual mandates were “roughly balanced” but acknowledged uncertainty about the economic outlook.
The Federal Open Market Committee (FOMC) statement said: "The Committee believes that the risks to achieving its employment and inflation goals are balanced and that there is uncertainty about the economic outlook. The Committee concerned about the risk of achieving his dual mandate."
While policymakers noted “progress” in achieving the inflation target, they neglected to mention “becoming more confident that inflation can move steadily toward 2 percent.” sustainable”.
“Labour market conditions have generally eased since the beginning of this year, with the unemployment rate rising but remaining low,” the Fed statement said.
Powell said the election results would not affect decision-making in the short term and that there was flexibility in future policy direction.
At his post-FOMC press conference, Fed Chairman Jerome Powell avoided giving specific guidance on the future direction of interest rates, leaving room for flexibility at the December meeting and beyond. He emphasized that because the economy is strong, the Fed can take its time lowering interest rates. He acknowledged that even after Thursday's rate cut, policy remains restrained as officials aim to return interest rates to neutral levels.
Regarding the pace of interest rate cuts, Powell said if the labor market weakens or slows as it approaches neutrality, the Fed could accelerate the pace of interest rate cuts. However, he clarified that no final decision has been made yet.
Powell also said that in the short term, the presidential election results will not directly affect monetary policy.
General assessment
The Fed's 25 basis point cut boosted gold prices, on the other hand, Powell made very clear statements about the possibility and prospect of cutting interest rates and this is not beneficial for the US Dollar.
A very basic knowledge is that the US Dollar is controlled by the Fed and not under the power of the US President. Therefore, even in the event that Trump is elected and boosts the US Dollar, it will still be restrained by the policy of cutting interest rates. Only if Trump can completely eliminate the Fed will the US Dollar have nothing to show for it. prevent. Of course, this is without precedent, nor has any President been able to do this.
Analysis of technical prospects for OANDA:XAUUSD
Although gold has recovered strongly from the 0.618% Fibonacci level confluence with the lower edge of the channel, it is still in a downtrend with the price channel as the short-term trend.
On the other hand, gold's upward momentum has also been limited by the EMA21 level, and it still has enough bearish conditions when the Relative Strength Index is also showing signs of folding down from the 50 level area.
If gold falls below the 0.382% Fibonacci retracement level, it will have the potential to fall a bit further with a short-term target of around 2,684 USD rather than 2,668 USD.
However, in case gold moves above the EMA21 level it will tend to increase further to test the 0.236% Fibonacci level. Therefore, for open selling positions should be protected above EMA21 quite "strictly."
During the day, gold still has a bearish technical outlook with notable points listed as follows.
Support: 2,684 – 2,668USD
Resistance: 2,700 – 2,710USD
SELL XAUUSD PRICE 2736 - 2734⚡️
↠↠ Stoploss 2740
→Take Profit 1 2729
↨
→Take Profit 2 2724
BUY XAUUSD PRICE 2676 - 2678⚡️
↠↠ Stoploss 2672
→Take Profit 1 2683
↨
→Take Profit 2 2688
Community ideas
Biggest single Whale $875.42 Mil is Hiding in the market.I spotted at 21:50, Nov 7 2024. The biggest whale I have seen this year with $875.42 million is currently hiding in the market, he will make a big move in 3 days to clear this order of the book. My only concern is that Thurs - Sundays are very typical dumping days for Bitcoin, however, He who has the most money will set the course of the future of Bitcoin. There aren't any retailers that can suppress or beat those order. Be mindful to follow the trend system carefully.
BTC - 4H fall for nowWhen it comes to market sentiment, a popular saying is, “When everyone is on the same side, it’s time to go the other way.” This concept aligns with the contrarian trading strategy, where savvy traders often position themselves in the opposite direction of the majority. Currently, with widespread excitement and optimism about a potential BTC bull run, it’s possible that we’re setting up for a correction rather than a sustained rally.
Historically, markets tend to pull back when optimism reaches a peak. For example, in 2017, as BINANCE:BTCUSD neared $20,000, the market sentiment was overwhelmingly bullish, yet that’s when BTC took a sharp downturn. Similarly, in early 2021, when Bitcoin was approaching $64,000 with much hype around institutional buying, we saw a significant correction that shook many investors.
In this context, the chart here shows MARKETSCOM:BITCOIN touching a strong resistance zone around the $76,000 level. With sentiment bullish and many expecting a breakout, BINANCE:BTCUSDT may likely trap some of this optimism and head lower first to “clear out” the overly crowded long positions. This potential pullback could lead to a more sustainable rally later after the excess sentiment has cooled.
ORCA’s Breakout: A Major Move Is Brewing!Yello, Paradisers! Have you been tracking #ORCA's moves? If not, it’s time to take a closer look — the breakout you’ve been waiting for might just be here!
💎#ORCAUSDT has made an impressive breakout from a multi-month descending channel, solidifying its momentum by retesting and transforming that channel into a robust support zone. Following this retest, ORCA's price has shown a powerful rebound from these support levels, a promising sign for the bulls.
💎Currently, ORCA’s price structure hints at a potential cup and handle formation. Confirmation of this pattern will come when the price successfully breaks above the formidable resistance zone between 3.10 and 3.35, aligning with the neckline breakout level. If ORCA shows strength and pushes through this resistance, we could see the price rallying towards the next significant resistance levels at 3.90 to 4.20 — the primary target range for this move.
💎Should the bullish momentum persist beyond this region, ORCA could extend its gains to the higher resistance band between 5.5 and 6.0. However, traders should be aware that this level will likely trigger substantial profit-taking.
💎On the support side, ORCA is well-protected by the dynamic presence of the SMA-200 and SMA-50, which recently formed a golden cross, signaling that bullish momentum is gaining strength. Additionally, key support between 1.80 and 1.70 further reinforces the stability of ORCA’s current structure.
Trade smart, Paradisers. The chart is setting up for potentially lucrative moves, but disciplined strategy and patience are crucial.
MyCryptoParadise
iFeel the success🌴
Oasis Network (ROSEBTC) ATL & 2025 Bull-Market StrategyGood night my fellow trader, how are you feeling today.
I hope you are doing good and I bet you are or else you wouldn't be reading this right now.
ROSEBTC (Oasis Network) grew more than 1,222% in a period of 373 days. I don't know which one is more surprising, the fact that this pair grew more than 12X or that the growth phase lasted more than a year; both sound great.
This happened between January 2021 and January 2022. After this bull-market we had a strong bear-market and this bear-market is coming to an end. We are seeing new All-Time Low prices after almost three years of bearish action.
The bull-market lasted one year, the bear-market three years so far... The next bull-market can be something great.
The bullish cycle which is about to start soon will not be something small. We are not looking at 300% growth, this would be short-term or mid-term, we are looking at 500%, 600% or more, something like 2021. This is because the market tends to seek balance and three years is a long time for a crypto to go down; everything is set for growth.
The bearish move is over-extended, you can tell by looking at the trading volume, there is almost none as prices move down. This means that the down-wave reached its end.
I don't know when the pair will reverse but this is a great time to accumulate. Buy and hold to sell after 5-6 months or when the chart says so.
Once we hit bottom, there is no other place left to go but up.
➢ ROSEBTC is trading at the lowest price ever.
➢ ROSEBTC just hit bottom, it is time for growth.
Patience is key. Once you are in, the market will take care of the rest.
Diversify your cap. between 5 to 10, or 20, pairs and continue adding for as long as the accumulation phase is active and in the initial period of growth. Once the market takes off, March 2025, start looking for options to secure profits, we have to sell to win when the time comes.
First we buy and then we sell.
➢ Sell those trading high.
➢ Buy those trading low.
Thanks a lot for your support.
Namaste.
Welcome back donald trumpIn this chart, I have conducted a technical analysis of Gold Spot against the U.S. Dollar (XAU/USD) on the 4-hour timeframe. The analysis highlights key areas of interest:
Supply Zone: Marked in purple, this region represents a potential area where selling pressure could resume. Historically, prices have shown resistance here, suggesting that traders should monitor this zone for possible reversals or selling activity.
Retracement Levels: I've used Fibonacci retracement levels to assess potential pullbacks. The 0.5 (2,696.90) and 0.382 (2,684.38) levels are particularly notable as possible points where the price may find support or resistance.
Target Area: Indicated by the arrow pointing downward, this is the level where I predict the price could head next if the supply zone holds and selling pressure intensifies. This represents a personal target based on my analysis and not a trade signal.
"Hope for the Best" Label: Positioned just below the supply zone, this label reflects the sentiment of uncertainty as the price approaches this resistance area. It serves as a reminder that market movements can be unpredictable.
Welcome Back Donald Trump: In a broader context, the market may also be impacted by political events. With Donald Trump winning the 2024 U.S. presidential election, there could be shifts in economic policy, which might influence precious metal markets and investor sentiment in the coming months. Keep an eye on these macroeconomic factors as they may play a role in future price actions.
This analysis is shared solely as my interpretation of market data and is not financial advice or a trade recommendation.
Gold analysis and trading signalsAt the 4-hour level of gold, as shown in the figure, this cycle is currently in a downward trend. According to the five waves of decline, 2790-2724 is the first wave of decline, 2724 to 2749 is the second wave of correction, and 2749 to 2643 is the third wave of decline. This 2643 is calculated based on 1.618 times, which is exactly stuck at this position, and from the perspective of segmentation, it is also the 786 segmentation support; therefore, assuming that 2643 is established, then the next is the fourth wave of correction, and the amplitude is calculated as 50%, which is 2696, which is also the resistance point with a probability of testing tonight; if there is pressure, the last wave of decline will be carried out; and it just so happens that the second half of the night is the time to announce the interest rate. According to the cyclical deduction of the first interest rate cut trend, the gold price will first rise and then fall, and finally stabilize and rise again. According to the wave shape, the low point of the fifth wave is about 2605, which is exactly the previous low point of 2602 or a good double bottom stabilization. Of course, the amplitude of the last wave is often irregular, and it may be not far from the low point of the third wave.
Gold hourly level: In the morning, it continued to fall directly to 2643. It is easy to enter into shock after a big drop. The trend continuity in the morning is relatively poor, so it is easy to bottom out and pull up if it falls first. The key to the support of 2643 is also calculated in advance. After the stabilization signal appears, it will follow the bullish rebound. At present, it has broken through the middle track. However, after a day of operation, the high point of 2678 in the early morning has not been broken. The overall rebound strength is not large. Therefore, it may need to bottom out tonight and wait for the news stimulus guidance in the second half of the night;
Gold operation strategy: It is recommended to go short at 2700-2710, with a target of 2680-2670
Buy Trade for DYDX: Capitalizing on Decentralized Derivatives
Description:
This trading idea focuses on DYDX, the native token of the dYdX protocol, a leading decentralized exchange (DEX) for derivatives trading. As DeFi adoption surges, dYdX has emerged as a critical player in enabling decentralized margin and perpetual contract trading. DYDX is pivotal in the ecosystem, offering governance rights, staking rewards, and fee discounts, which encourage liquidity and user engagement. The platform’s rapid growth and increasing trading volume position DYDX as a promising asset for those seeking exposure to the expanding world of decentralized derivatives markets.
Nonetheless, it is crucial to understand that the cryptocurrency market remains highly volatile, influenced by factors like regulatory developments, macroeconomic trends, and shifts in market sentiment. DYDX's performance can be affected by these and other external events, and as such, investors should approach with caution and proper risk management.
Disclaimer:
This trading idea is provided for educational purposes only and should not be interpreted as financial advice. Cryptocurrency investments, including those in DYDX, carry substantial risk, including the potential for complete loss of capital. Be sure to conduct thorough research, evaluate your financial situation, and consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.
BTCUSDT Trading Strategy TodayBTCUSD is trading around 75,838 USD, showing strong upward momentum with potential for further gains. The chart highlights two critical support zones: Support 1 around 74,000 USD and Support 2 near 72,400 USD.
If BTCUSD experiences a pullback, these support levels could act as launching points for another upward move. Holding above Support 1 would strengthen the bullish outlook, targeting the resistance around 76,700 USD and potentially higher.
WTI Oil H1 | Falling to 61.8% Fibonacci supportWTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 71.67 which is a pullback support that aligns with the 61.8% Fibonacci retracement level.
Stop loss is at 70.55 which is a level that lies underneath a swing-low support.
Take profit is at 73.50 which is a pullback resistance.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
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Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
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GBPUSD_107 2024.11.07 14:16:06 Trading Signal BUYFrankPro Signal for GBPUSD_107
Type: Screen
Signal: BUY
TP: 1.2998
SL: 1.29623
Entry Price: 1.29674
Analysis for GBPUSD
Forecast Overall(Short-Term, Long-Term): ST= Strong Down LT= Strong Up
Forecast Methods(Short-Term, Long-Term):
ST=Down LT=Up
ST=Down LT=Up
ST=Down LT=Up
Analysis Method(0)
Based on the analysis, here are my predictions for the GBP/USD pair:
**Short-term (next few days):**
* The price is expected to go down. The pair is currently moving within a descending channel, indicating a short-term bearish trend. The price is also below the 100-day SMA (1.2980), which is a bearish signal.
* However, there is a potential for a short-term recovery, as the pair is building recovery momentum toward 1.2950 and has found support near this level.
* Key levels to watch in the short-term include 1.2940, 1.2900, and 1.2980.
**Long-term (next few weeks/months):**
* The price is expected to go up. The forecast suggests that the pair is expected to test the support area near 1.2765, but then continue to grow with a target near 1.3085.
* A breakout above the resistance area and a price close above 1.3005 could signal a reversal, indicating a potential long-term bullish trend.
* The Bank of England's stance on interest rates and the prospect of a recession in the UK may influence the pair's volatility, but the overall long-term trend is expected to be bullish.
Please note that these predictions are based on the analysis provided and are subject to change as new data and events unfold.
Result: ST=Down LT=Up
Analysis Method(1)
Based on the provided analysis, here are my conclusions on the expected price movement of the GBP/USD pair:
**Short-term (next few days):**
* The pair is currently in a descending channel, indicating a short-term bearish trend.
* The Relative Strength Index (RSI) is above 50, but the pair has yet to flip the 100-day SMA into support.
* Key support levels are at 1.2940 and 1.2900, while resistance is at 1.3000 and 1.3040.
* Given these factors, I expect the price to **go down** in the short-term, potentially testing the support area near 1.2765.
**Long-term (next few weeks/months):**
* Despite the short-term bearish trend, there is an expectation for the GBP/USD pair to rebound and continue growing towards the level of 1.3085.
* A breakout of the resistance area and a price close above 1.3005 would confirm the growth option.
* Economic data and central bank decisions, such as the Bank of England's expected rate cuts, could impact the pair's movement.
* Considering these factors, I expect the price to **go up** in the long-term, potentially reaching higher targets such as 1.3042 and 1.3057.
Please note that these conclusions are based on the provided analysis and are subject to change as new data and events emerge.
Result: ST=Down LT=Up
Analysis Method(2)
Based on the provided analysis, here is my assessment of the expected price movement for the GBP/USD pair:
**Short-term (next few days):**
* The pair is currently trading near 1.3000, and the technical analysis suggests that it is yet to break above the 100-day SMA at 1.2980.
* The market sentiment is cautious due to the upcoming US presidential election, which may lead to a temporary consolidation or a slight decline.
* The support levels at 1.2940 and 1.2900 are likely to hold, but a break below these levels could lead to a decline towards the November 1 low of 1.2884.
* Therefore, in the short-term, the price is expected to **stay the same** or **go down** slightly, with a potential range of 1.2940-1.3000.
**Long-term (next few weeks/months):**
* The forecast and analysis suggest that the pair could test the support area near 1.2765 before potentially rebounding and growing towards the 1.3085 level.
* The expectation of interest rate cuts by the Bank of England by the end of 2025 could lead to a depreciation of the pound in the long-term.
* However, the US Dollar is currently under pressure, which could allow the GBP/USD to hold its ground or even appreciate in the long-term.
* Therefore, in the long-term, the price is expected to **go up**, with a potential target of 1.3085, but with a possible decline to 1.2765 before rebounding.
Please note that these assessments are based on the provided analysis and are subject to change as new information becomes available.
Result: ST=Down LT=Up