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NZDUSD to see limited losses?NZDUSD - 24h expiry - We look to Buy at 0.6050 (stop at 0.6020) Price action has continued to trend strongly lower and has stalled at the previous support near 0.6050. Price action looks to be forming a bottom. We expect a reversal in this move. Risk/Reward would be poor to call a buy from current levels. A move through 0.60100 will confirm the bullish momentum. Our profit targets will be 0.6125 and 0.6150 Resistance: 0.6100 / 0.6125 / 0.6150 Support: 0.6050 / 0.6025 / 0.6000 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
Long
by VantageMarkets
EUR/JPY BEARISH TRIANGLE AND LONG SETUPOn EURJPY, we can observe a descending triangle pattern, as the price generated a large bearish candle of over 80 pips around 9 o'clock on the H1 timeframe. Currently, the price is approaching a Forex48 block, which is a high reaction zone, especially if there's a double confirmation on the M15 timeframe. If this zone fails to halt the downtrend, the next potential target could be the level of 155.80, where we have a FVG (Financial Volume Grouping), indicating a significant support area. At this level, the price might find support and reverse upwards, targeting 157 to retest the lower boundary of the descending triangle. Your thoughts and analysis on this setup are welcomed. Happy trading to all!
Long
by EdgeTradingJourney
1
XAU/USD BEARISH SETUP - 1910 KEY LEVELOn gold, we have a bearish setup on both the weekly and daily charts. Occasionally, we have noticed that it is useful to look at clearer and more detailed timeframes. In both the weekly and daily charts, we precisely have a bearish setup with a resistance zone between 1960 and 2040. Within this zone, there is a demand area and a bearish trendline where the price has bounced before reversing course after a slight rally. Indeed, the price is now descending towards 1910, which is our key level that will act as support initially and then resistance once the price reaches the demand zone, which is between 1800 and 1840. We expect a rebound from that area with a target of 1910. Let us know what you think. Happy trading to everyone!
OANDA:XAUUSDShort
by EdgeTradingJourney
1
AUD/CAD SHORT TRADE H4 SETUPI went short on this pair following a specific candlestick pattern and a support/resistance zone on the H4 timeframe. I identified an engulfing candlestick pattern on the 4-hour chart, suggesting a potential change in market direction in favor of my short trade. Furthermore, I noticed that the price has returned within a box that previously acted as both support and resistance. This led me to believe that the market might continue its bearish trend. Here are my entry point, stop loss (SL), and take profit (TP) levels: Entry point (short): 0.8820. Stop loss (SL): 0.8881. Take profit (TP): 0.8715. This is just one of my trading strategies based on candlestick analysis and support/resistance levels. However, the market is always unpredictable, and trades involve risks. I maintain a strict risk management approach and am ready to adjust my stop loss and take profit as the trade evolves. Please note that this information is provided for educational purposes only and does not constitute investment or trading advice. I encourage you to conduct further analysis and make informed decisions based on your financial situation and trading experience.
Short
by EdgeTradingJourney
USDCHF has turned positive.USDCHF - 24h expiry Short-term bias has turned positive. Price action has posted a Doji candle and signals a possible reversal of the recent trend. A lower correction is expected. We look to buy dips. 50 4-hour EMA is at 0.8677. We look to Buy at 0.8673 (stop at 0.8637) Our profit targets will be 0.8763 and 0.8773 Resistance: 0.8736 / 0.8750 / 0.8770 Support: 0.8700 / 0.8675 / 0.8660 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA