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DXY is eyeing 105.50In my 24th of August DXY analysis, I explained why I'm bullish USD Index and suggested buy dips around 103 support. It worked like a charm and after a short dive to support, bulls returned with vengeance and drove the price back up to resistance. At this moment I expect also a break above this resistance in which instance traders could expect continuation towards the next one at 104.50. I'm looking to sell rallies for EurUsd, AudUsd, GbpUsd, and NzdUsd. My 24th August analysis:
TVC:DXYLong
by Mihai_Iacob
1
UsdCad- Break above resistance next?After the low from mid-July, UsdCad has started to reverse and after the small correction from last week, last Friday was also marked by an immense Bullish Engulfing from short-term support which led the pair into the resistance zone again. The structure from the low is strongly bullish and I believe this resistance will fall sooner rather than later. I'm very bullish UsdCad as long as 1.35 is intact and a break above the 1.3650 zone could lead to acceleration to the upside and expose the 1.3850 zone. In conclusion, my strategy is to buy dips under 1.36 in search of a good risk: reward considering the levels that I mentioned.
Long
by Mihai_Iacob
2
EurUsd could drop to 1.05 zoneIn my previous EurUsd analysis I wrote that the break of the one-year rising trend line could signal further losses for the pair and traders should keep an eye on the 1.09 zone, suggesting selling above this figure. EurUsd reversed perfectly from resistance leaving a long-tailed continuation Pin Bar on our chart suggesting bears are very strong. Going further, I expect further weakness for the pair and I'm looking for a drop to important 1.05 very important zone support in the medium term. The strategy should be sell rallies and only a daily close above the recent high would negate this bearish scenario.
Short
by Mihai_Iacob
13
Gold (XauUsd) could rise to 1980As you may already know from my previous posts, I’m bullish Gold in the medium term. The basis for this outlook can be observed on the weekly chart. XAU/USD experienced a false downward break beneath the 1900 mark, but this, in the end, has become a bullish engulfing candle. This was followed by a breakout above the resistance of a falling wedge pattern, clearly visible on lower timeframes, followed by the break above the horizontal 1930-1935 zone (which I've previously discussed in my analyses). Now the price is consolidating the recent gains and, considering Gold is facing the major falling trend line of the channel, a correction is not out of the question. However, as long as the price stays above 1930- now support- bulls hold the upper hand and a sell would be pretty risky. In conclusion, in my opinion, dips should be bought with a target at around 1980. Negation comes with a daily close under 1930
OANDA:XAUUSDLong
by Mihai_Iacob
9
Bitcoin- Sell rallies for a break under supportIn my previous Bitcoin analysis, I said that even 26k could offer support, I don't believe in a real reversal from here. I even had a short-term buy with a 28k target which was reached last week. My idea remains unchanged and after last week's reversal, is reinforced. Technically speaking, the support of the rising channel started at the beginning of the year is broken and, last week's candle is a Pin Bar, both with strongly bearish implications in the medium term. That being said, my strategy is selling rallies for a break of support and only a close above 28k would change my opinion. The next important support is 21k zone support which could represent bears' target in the medium term.
BITSTAMP:BTCUSDShort
by Mihai_Iacob
9
XAUUSD Short The Cloud Is talkingDear Ziilllaatraders, The Ichimoku Cloud, a popular technical analysis tool, consists of several components that provide valuable insights into market trends and potential price movements. One of its key components is the "cloud" or "Kumo." The cloud is formed by two lines: the Senkou Span A (also known as the leading span A) and the Senkou Span B (leading span B). When the price of an asset is below the cloud, it can be interpreted as a bearish signal. Here's why the Ichimoku Cloud is indicating bearish signs for XAUUSD: Price Below the Cloud: The most prominent observation is that the current XAUUSD price is positioned below the Ichimoku Cloud. This placement suggests that the overall market sentiment is bearish and that sellers may have the upper hand in the near term. Cloud as a Dynamic Resistance/Support: The Ichimoku Cloud is not just a static indicator; it also serves as dynamic resistance or support levels. When the price is under the cloud, it implies that the cloud itself is acting as a resistance zone, potentially hindering upward price movement. Bearish Momentum: The position of the price under the cloud reflects the current trend's strength and direction. In this case, the fact that the price is below the cloud indicates a bearish momentum, implying that the market is biased towards further downside movement. Confirmation from Lagging Span: The Lagging Span (Chikou Span) is another component of the Ichimoku Cloud. When the Lagging Span is below the price, it adds further confirmation to the bearish sentiment, suggesting that recent historical price action is supportive of the current bearish trend. From this technical perspective, the Ichimoku Cloud's indication of the price being below the cloud aligns with a bearish sentiment for XAUUSD. However, it's important to note that technical analysis should be used in conjunction with other forms of analysis, such as fundamental analysis and market sentiment, to make well-informed trading decisions. It's also crucial to consider potential risks and uncertainties that could impact market dynamics, as technical indicators provide insights based on historical price patterns and trends. As always, traders and investors should exercise caution, use proper risk management, and consider a comprehensive approach to analysis when making trading decisions in the financial markets. Greetings, Ziilllaatraders
OANDA:XAUUSDShort
by ZILATRADES
DXY- What's up with the US DollarIn my previous DXY analysis, I wrote that, after the false break from mid-July, USD most probably reversed to the upside, and there are clear signs of this: 1. After the false break we have a strong bullish engulfing candle that confirms the old support (green rectangle) 2. Long-tailed Pin Bar candle that confirms the break above the falling trend line (red rectangle) At this moment, the index is testing a horizontal resistance and yesterday we had a reversal candle. In my opinion, this candle is not signaling reversal but, in the best case, a minor correction. This correction should be considered a good chance to search for selling opportunities for USD pairs and my main focus is on EurUsd and AudUsd
TVC:DXYLong
by Mihai_Iacob
20
Gold is flirting with 1900. My target remains 1930 thoughAs I explained on Monday and yesterday, in my opinion, Gold will reverse and rise to test the 1930 resistance zone. My opinion remains the same and after yesterday's price action is even reinforced. As we could've noticed, after the touch of 1905 interim resistance (my initial target), Gold dropped and tested 1890 once more, bulls quickly took control leaving a nice H4 pin bar on our chart. Also, XauUsd looks like it is forming a rounded bottom on shorter time frames, one more argument in favor of bulls. To conclude, the strategy remains the same, buy dips with a target at 1930 zone and negation under 1883 low.
OANDA:XAUUSDLong
by Mihai_Iacob
24
CadJpy- Has it topped?Since mid-march, CadJpy has had an impressive rally, with the pair gaining 1500 pips in only 3 months. A steep 500 pips correction followed the top consolidation and after this, the pair resumed its up move. However, looking at recent price action we can see that the pair is struggling and the last 4 attempts to reconquer 108 failed. At this moment the possibility of a lower high is probable and a new leg down could follow. Confirmation for this comes with a break under recent trend line support but aggressive traders could look to sell rallies against the recent top. In such an instance, a 1:4 r:r could be achieved.
Short
by Mihai_Iacob
2
Silver- will history repeat itself?As I said, before, I usually use XagUsd as a leading indicator for Gold, and more often than not, this is the case. Also recently, although XauUsd made a new low, XagUsd stopped its descent and reversed and on Monday the reversal was very strong, with the price slightly getting back above both the ascending trend line and the horizontal level followed by a clear up break the next day(yesterday) If we look back at March, we could see a similar pattern, we a double false break and strong reversal. With a renewed appetite for precious metals, we can expect price action to act in a similar way. Technically speaking, a false break leads to reversal, and also, the recent bottom is marked by a lot of reversal candles and candle formations. 23.25 is strong confluence support and considering a trade in that zone with a target in the next important resistance a trade with a 1:4 risk: reward could be achieved
OANDA:XAGUSDLong
by Mihai_Iacob
5
EurUsd could drop under important supportSince the recent 1.13 top, EurUsd started to fall, with rallies clearly sold. Also, the mid of August is marked by a break under the ascending trend line that kept the price elevated for almost a year. At this moment the pair is trading exactly at the horizontal support and a break also under this support is probable. In such an instance EurUsd could drop to the next important support that lies 200 pips under. I'm looking to sell rallies for EurUsd and an ideal price could be 1.0950 with negation above 1.1150 for a 1:3 risk: reward trade.
Short
by Mihai_Iacob
15
XauUsd could correct to the upsideIn my Friday comment, I said that XauUsd is contained in a descending channel and the first notable support is the confluence support from the 1850 zone. However, looking at a shorter time frame we can see that the price is trading in a tight channel and, usually, this type of pattern leads to a reversal. Also, bears look tired and need to catch their breath and in the Asian session, we have a strong reversal from 1885 of around 100 pips. That being said, we can see some upside momentum for Gold with the first resistance coming into place at the 1905-1910 zone followed by the 1930 important one. I'm bullish on the short term as long as the recent low is intact.
OANDA:XAUUSDLong
by Mihai_Iacob
15
Will EurJpy finally reach 160?Since the beginning of July, EurJpy has been pretty volatile with hundreds of pips fluctuations and at the end of the month, the pair even dropped 700 pips in only a week. However, the pair recovered and the trend remains extremely bullish. Mid-August is marked by a new local high and after a top around 159, a normal correction followed. This correction comes to confirm the recent break and now we can consider this old resistance support. As long as the pair stays above this support bulls hold the upper hand and the trend remains strong with a test of 160 very probable. In conclusion, buying dips near support could be a good idea and if we keep stop loss tight we could also have a very good risk: reward for such a trade.
Long
by Mihai_Iacob
6
Bitcoin could rebound, but I'm not very optimistic After almost 2 months of consolidation, Bitcoin dropped hard last week breaking under the channel's trend line support. In my opinion, this break is very important and signals a top at around 30k and the resumption of the long-term downtrend that started 2 years ago. Technically speaking, at this moment the price is above horizontal 25000-25500 zone support and a rebound could follow. This rise should be viewed as an opportunity to sell in anticipation of a break under 25k with a target of around 21k. Only the price back above 30k would negate this strongly bearish structure
BITSTAMP:BTCUSDShort
by Mihai_Iacob
28
NzdUsd- In search of the next support (could be 0.5750)After flirting with 0.6050-0.6070 zone support, exactly a week ago, NzdUsd managed to break under and at the time of writing is trading well under the psychological 0.6. The overall structure is strongly bearish and we could probably see down continuation. 0.6050 is now resistance and, in my opinion, rallies towards 0.6 should be sold considering a stop above resistance. As the title says, 0.5750 could be swing trader's target.
Short
by Mihai_Iacob
8
XAUUSD Outlook 15/8/23 Its showtime! 🔥What is up gold gang! once again we smashed it with the analysis and execution today .. perfect reversals from the level. Boop! .. outstanding Congrats if you smashed that with me DXY reached the 103 as predicted last night and is currently rejecting it .. this could be showtime for us to start moving up in price! we have some news tomorrow which should give us the push we need to find out! A drop in DXY will send gold up if you didnt already know The levels remain the same as todays but reversals on the sell side are lower down .. whichever way we break out .. we will be ready as always to strike. Follow and like this post guys .. i appreciate you all for hanging out with me im just an ex builder with a passion for the markets .. i hope that shines through with my ramblings catch you in london tommyXAU
OANDA:XAUUSD
by tommyXAU
4
XAUUSD Short 1000 Pip Move IncomingDear Ziilllaatraders, We can see daily candels being sold showing strong selling pressure. This due to latest inflation numbers, showing an increase. Here is Why: When inflation rises, it signifies that the general price level of goods and services in an economy is increasing. This can lead to concerns about the erosion of purchasing power, as consumers and investors need more money to buy the same amount of goods and services. In response to higher inflation, central banks, such as the U.S. Federal Reserve, may consider implementing tighter monetary policies to control inflation and stabilize the economy. One of the primary tools that central banks use to control inflation is raising interest rates. When a central bank raises interest rates, borrowing becomes more expensive. As borrowing costs increase, consumer spending tends to decrease, which can slow down economic activity. Additionally, higher interest rates make it more attractive for investors to hold the local currency, as it offers better returns compared to other currencies or assets. Expectations of Higher Interest Rates: When inflation rises, there might be expectations that the central bank will respond by increasing interest rates to counteract inflation. This is done to make borrowing more expensive and to cool down economic activity. These expectations of future interest rate hikes can make the U.S. dollar more attractive to investors seeking higher returns. Attractiveness of U.S. Dollar: If the U.S. dollar is expected to offer higher yields due to potential interest rate hikes, global investors may shift their investments towards the dollar. This demand for the dollar can drive its value up in comparison to other currencies. Gold as a Safe Haven: Gold is often seen as a safe-haven asset that investors turn to during times of uncertainty or economic instability. When the U.S. dollar is expected to strengthen due to potential interest rate hikes, some investors may choose to shift their investments away from gold to capitalize on the potential gains from a stronger dollar. In summary, the relationship between higher inflation numbers, expectations of interest rate hikes, and the value of the U.S. dollar can influence investor behavior. If investors believe that the U.S. dollar will become more attractive due to potential interest rate increases, they might shift their investments away from assets like gold (XAUUSD). As a result, the increased demand for the dollar and decreased demand for gold can lead to a drop in the value of the XAUUSD currency pair. if rumors are true we are going to see a big drop. Greetings, Ziilllaatrades
OANDA:XAUUSDShort
by ZILATRADES
GbpUsd will probably break supportThe break above important 1.3 back in July proved to be a false one and after a high at 1.3150, GbpUsd dropped hard and the reversal from 1.28 support that followed was in fact a correction finalized with a very strong bearish engulfing last week, that not only engulfs the previous 2 rising candles, but also marks a new low. Friday's and yesterday's rises are anemical and the pair is now sitting on a technically very important 1.28. A break down at this moment looks imminent and in such an instance, 1.25 could become in focus. Only a break above 1.3 would change this grossly bearish scenario.
Short
by Mihai_Iacob
15
Gold remains bullish, but...In my yesterday's analysis, I said that I'm still bullish Gold and I expect a new rise to the 1980 zone resistance. After a drop to 1950, XauUsd reversed strongly at first, reaching an intraday high at 1972, but started to roll back down after. At this moment, the price is still above the trendline starting from the recent low under 1900 and also above important horizontal support. However, yesterday's high is a lower high and also the rise from Thursday's low is overlapping, not impulsive. That being said, I'm still bullish and try to buy dips, with low volume and tight SL, though
OANDA:XAUUSDLong
by Mihai_Iacob
36
UsdChf- Bullish short term, bearish medium term. What to do?UsdChf is in a bearish trend for quite some time and recently broke under very important 0.88 zone support. After reaching a low at 0.8550. Here the pair found support and formed a small double bottom which could lead to further gains. In conclusion, in the short term, a rise to test the broken support, now resistance is not out of the question and short-term traders can try to speculate this potential rise. However, if you want to stay on the safe side, a sell in 0.88 zone is a better choice.
by Mihai_Iacob
9