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EurUsd is building bullish momentumAs I said in my last week's EurUsd analysis, although the trend is bearish, in my opinion, it will turn, and is better to look for buying opportunities. Indeed, on Friday we have yet another reversal with a strong bullish engulfing and also yesterday the pair managed to break above the triangle's resistance. As we can see from the posted chart, since the 0.9550 low, EurUsd is putting in higher lows all being marked by strong reversals, indicating buying dips from big players. At this moment EurUsd is facing 0.99 horizontal resistance and a break above would clarify things and put pressure on the upside. The first target can be 1.02, followed by 1.035 zone important resistance. Also, in case of an au break of 0.99, parity should provide some kind of resistance ( I don't expect it to be very strong though). Buying dips with a stop loss under 0.97 could be a good strategy.
Long
by Mihai_Iacob
10
EurJpy- Up after support confirmation?After the break above 144 resistance in the middle of the month, EurJpy corrected and confirmed this break as a valid one on Friday and also yesterday. Both these touches of support are marked by long-tailed candles to the downside suggesting buying power in that zone. The price action since June is contained in a large inverted h&s and the up break is also a break of the neckline of this pattern. I favor more gains for this pair and, considering the measured target of the H$S, 154 could be swing traders' target. Only a close under 144 would put a pause to this scenario.
Long
by Mihai_Iacob
3
TRADE OF THE WEEK | Great Short Trade💰 Hey traders, For the last 2 week, we were patiently waiting for a test of a major falling trend line on a daily on GBPUSD. Once the market reached that, we were patiently waiting for a confirmation. On a Tuesday's live stream, we spotted a cute double top formation and a confirmed neckline breakout. Short position was opened on a retest. Our target was the closest key support. +180 pips of pure profit! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
3
CHFJPY:BEARISH POSITIONS BELLOW 147.516FX:CHFJPY Hello folks!!!, This is my analysis brought to you after deeply analyzing the CHF/JPY Forex Pair from a technical, trend and fundamental perspective: *Pivot Point : 147.516 *Stop Loss : 148.258 Take profit : 142.004 Entry Price : 146.801 Risk/Reward Ratio : 1 : 3.28 ⭐If this post was useful to you, do not forget to like ❤️ and comment ✍️. ✅Fallow me to be up to date with all my posts and updates 🚀. Trade Safely, Yasser Tavarez
Short
by elversatiltav
1
Gold- where will it go? A deeper look into itAs the father of the modern economy said back in 1930: " The market can stay irrational longer than you can stay solvent" and this couldn't be more true now with a falling Gold price in a high inflation environment. But there is also a saying for traders:" Trade what you see, not what you think"... So, what do we see when it comes to Gold? Looking at the posted weekly chart, we can see that after the recent high and test of the ATH back in March, Gold has entered a downtrend, and is contained in a downwards channel with clear lower highs and lower lows. Also, we can see a very nice double-top formation with the neckline support clearly broken, so, a downtrend on a longer time frame. Zooming in to daily: On daily TF the downtrend is even more clear: - The rising trend line started in 2018 is broken - We can see the importance of the 1680-1700 zone with multiple reversals, acting both as support and resistance in the past 3 years, and now this level is clearly broken to the downside. - The price is under both 50 and 200 MA - Also we have a death cross at the beginning of July - The recent rise above 1700 is very well stopped by the 50MA and the falling trendline Going to H4: Refining to H4 we can see a double test on the 1680 zone on 11 and 14 November, followed by a break of 1640 support and a test of this broken support and confirming as new resistance yesterday. So, on all-time frames, Gold is bearish... But now we are speaking of XauUsd, so what's happening with the price of Gold in general? XauEur: - With Eur, Gold is also in a downtrend that started in March - At this moment the price is exactly in support and a break down looks imminent XauGbp: - As in XauUsd's case we have a double top - The price is also in support and a break looks imminent Putting it all together: More often than not when we are speaking of the price of Gold we are speaking in fact of XauUsd, but Gold its self is an asset that has trends regardless of Usd's evolution and in this case, all are pointing to a falling Gold price. In conclusion: - In XauUsd's case the trend is strongly bearish and a fall under the recent 1615 low is very probable - There are 2 very important support zones at 1550 and 1450 that can provide targets for swing traders - Considering selling rallies 1640 and 1660 should be very good points - This bearish view on XauUsd is intact as long as the price stays under the 1680-1700 zone Best Regards! Mihai Iacob
OANDA:XAUUSDShort
by Mihai_Iacob
39
EurGbp could resume its up moveAfter reaching a high near 0.93, EurGbp fell strongly with a drop of 600 pips in just a week. After this drop, the pair started to consolidate and although it made some new local lows, these are marginal and the pair is contained in a falling wedge pattern. At this moment the price is trading in falling trend line resistance which is also confluent with the horizontal resistance at the 0.87 zone. As long as the recent low is intact, I favor gains and the previous high can be the bull's target.
Long
by Mihai_Iacob
7
EurUsd- Will we have a real reversal?Yesterday was an interesting day for EurUsd traders, a day that could give us clues for future price evolution... After an initial spike and false break of support on CPI data release, EurUsd reversed strongly and close the day above 0.97 support and in the high of the range zone. At this moment there is a high probability of a higher low in place in this support and continuation to the upside. Dips should be bought near this support and, with a stop loss under yesterday's low, we can have a 1:3 risk: reward if we target parity. Going further, an ABC-type correction can be in cards for EurUsd and, in such a case, I wouldn't be surprised to see 1.03 for the single currency by year's end. I'm strongly bullish EurUsd as long as 0.96 is intact
Long
by Mihai_Iacob
13
EurUsd could drop to 0.95 againTwo days ago I said that the 0.97 zone is offering support for EurUsd and a reversal could follow from this zone. Although initially, bulls took control and the pair rose towards 0.98, this rise was very short-lived and EurUsd dropped like a stone back to the 0.97 zone. This for me is a clear indication that bears are not done yet and a new wave of selling is most probable. Technically, we are in support now and a break here would expose 0.95. Only a daily close above 0.98 would negate this bearish scenario.
Short
by Mihai_Iacob
6
Gold- Is imperative for bulls to hold 1680 intactAfter the false break and the strong reversal to the upside, Gold reached descending channel's resistance and started to drop. As I said last week, the 1680-1690 zone should offer support and is imperative for bulls to hold this zone intact if they were to hope for a long-term reversal. However, only the price above 1715 would confirm the reversal, and with the price between 1680 and 1715 Gold is trading in no man's land. A daily close under 1680 would put again pressure on Gold and supports under this figure are 1650 and 1620. So far I maintain my bullish bias
OANDA:XAUUSDLong
by Mihai_Iacob
15
EBAY Active buyers declined 13%I remember i was also a user of EBay in the past few years, but i closed my account in January because of their high fees and lack of sales. i got less views per product than before. And i noticed that my personal experience with SHOP Shopify and SSTK Shutterstock selling less or PYPL PayPal high fees was other people`s problem too. and we moved away from those services. Active buyers on eBay declined 13% in the quarter. Revenue fell 6% to $2.48 billion, but above expectations of $2.46 billion. The forecast for earnings of 87 - 91 cents per share is below the average analyst view of $1.01 per share. CFO Stephen Priest: "Those negative (war) impacts will continue through 2022". My buy area is around 37-40usd. Looking forward to read your opinion about it.
NASDAQ:EBAYShort
by TopgOptions
3
GbpUsd- The bigger move should be up, not downIt was a crazy start of the week for GbpUsd, with the pair dropping 500 pips in Asia's open on Monday and after a dive even under 1985's low, we have a strong recovery to 1.09. Since that high, GbpUsd has started to roll back down again with a price at the time of writing of 1.0650 and a descending triangle now visible on our 1H chart. The trend is down, indeed, but in my opinion, GbpUsd will not make a new low, at least in the next few months, and has more room to rise than fall. That being said, for me, the safer and more profitable trade would be against the trend now and a new visit towards Monday's lows can prove to be a good buying opportunity. Bulls can target prices above 1.1 zone
Long
by Mihai_Iacob
10
EurAud could accelerate upwards. 1.52 remains my targetLast week I said that EurAud could rise and pass above 1.5 and, with strong support under 1.48, dips should be bought. Indeed, the pair reversed from that zone and now is trading just under the upper boundary of the range and exactly in the resistance given by the falling trendline started in March. The recent break under 1.44 support is a false one and, as always, we can expect now a rise to the next important level of resistance at the 1.52 zone (which is also my target for this rise) In the short term: As we can see from the 1H chart above, the price action from the 19th is in a V, with acceleration upwards since Monday and clear resistance at 1.4950. Considering 10 days of consolidation and the clear pressure on the buy side, I expect this resistance to fall and the pair should accelerate its gains. As I said, the most obvious level of important resistance is the 1.52 zone and I expect it to be reached pretty soon after we have a valid break above 1.4950. Best Regards! Mihai Iacob
Long
by Mihai_Iacob
4