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XAUUSD SHORT SIGNAL H1 SETUPOn gold, we have a bearish tendency in the long term after a strong rally on Friday. The price seems to have consolidated around 1918, where we have an H1 value gap with a high reaction force for a possible reversal and a trendline that the price has touched for the fifth time. The target for a short trade will be at the level of 1985, with a risk-reward ratio of 1:2. It would be fantastic if you could share your opinion and leave a like to support our work. Greetings from Nicola, CEO of Forex48 Trading Academy.
OANDA:XAUUSDShort
by EdgeTradingJourney
1
USDCAD : Long Trade , 1hHello traders, we want to check the USDCAD chart in the 1-hour time frame. The price has broken the descending channel upwards and then pulled back to the key level between 1.32200 and 1.32300. We expect this level to act as a support level for us. perform and maintain the upward trend of the price. If the price increases, we can expect the price to grow up to the next key level, i.e. up to the price of 1.33500. If the upward trend is strong, the next target that can be envisioned for the price It is 1.34600. Good luck.
Long
by mrAT_Trader
Eurusd ; more downside squeeze? 💀The Monthly candle has been pulling back from monthly resistance at 1.10255 since intitially tapping into it last Thursday. The Weekly candle is bearish and is rejecting weekly resistance zone 1.094. The Daily timeframe has confirmed a bearish breakout to the downside since it recently closed below Daily support level 1.0891. This Daily support level has now tunred into a Daily S/R Zone and may act as a resistance area for more downside potential. As stated on Tuesday's publishing " Momentum from Last week , Eurusd whats cooking? " I mentioned this statement --> "Downside target for week is 1.081 4Hr Support zone" . This would be 51 pip drop from the current daily candle and similar to the 49 pips drop that we saw today with GDP and unemployment claims data. Tomorrow we have Core PCE data. Now A few things could happen. 1) We move up prior to news then drop with news 2) We move down to our weekly target 1.081 before news and then shoot up with news 3) We consolidate, then increase back into the Daily range between 1.0891 Support and 1.096 Resistance with bad USD PCE data tomorrow. ** Also we must be aware that the monhtly candle is coming to a close. This could cause some very irrational volatility. It's the end of the week as well. It could be a freaky friday. I'm lowering size and wider SL. I may not even trade we'll see.
Short
by ShrewdCatfx
2