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GBPUSD Potential Forecast | 1st March 2023Fundamental Backdrop 1. Inflation for the GBP continues to be very high. 2. Pessimistic outlook on the economy for GBP as upcoming GDP m/m is widely forecasted to be printed negative, showing the recessionary phase the economy is in. Technical Confluences 1. The overall bias for GBPUSD is bearish and price can retest the daily support level at 1.186. 2. Price has been on a bearish trend for GBPUSD and is forming lower lows and lower highs as seen by the red highlights signifying the highs and lows. 3. Price rejected off the H4 resistance level at 1.213 and has seen continued bearish. Idea I will be looking for price to possibly retest the support at 1.186. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Short
by OlympusLab
EURUSD Potential Forecast | 1st March 2023Fundamental Backdrop 1. FX market has been very data driven. 2. Consumer confidence declined again in February, printing 102.9 compared to a forecast 108.5. 3. Along with the durable goods order printing -4.5% m/m compared to forecast, this resulted in heavy bullish momentum coming in on the EURUSD. 4. However, due to the strong economic resilience of the US, with retail sales previously printing very positively, and inflation remaining heightened, USD has further upside potential and EURUSD can continue heading down. Technical Confluences 1. The overall bias for EURUSD is strong bearish and price can potentially create a new higher timeframe beyond 1.05327. 2. Price is on a retracement and have since partially corrected half of the bullish movement from Monday to Tuesday. 3. Price is still on a bearish trend, forming lower lows and lower highs. 4. Price has tested the resistance level at 1.0633 and bearish continuations ensued. Idea I will be looking for price to possibly retest the resistance at 1.0595 before bearish movement continues and for price to potentially form a new low at 1.05327. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Short
by OlympusLab
Please stop getting your hopes up! Nothing is bullish in my eyesHello. I'm somewhat fed up of seeing people showing "golden-crosses", "rsi's matching with historical data" etc etc. Not until we take out the DAILY LOWER HIGH (Daily LH) am I bullish. We even kissed and got a rejection perfectly of the daily order block. It's simple market structure guys/gals. Dumb money is getting sucked up and we are going to be shooting down to fill this big juicy imbalance that has been left. Stay patient and wait! We are still in a down trend!
Short
by VerumTech
4
EURUSD Potential Forecast | Tuesday 7th February 2023Hi Everyone, my name is Chern Yu and I utilise smart money concepts. Trade Idea 1. Looking for an intraday short position into EURUSD to test the lows 2. Lower highs and lower lows has been forming 3. Anticipating a new lower low to potentially form 4. Bearish trend is confirmed 5. Bearish continuations is anticipated 6. Price already broken structure to the downside Hence, I will be taking a short entry onto the EURUSD to test the lows at 1.0697. Trade safe guys! Regards, Chern Yu
Short
by Jon_Jones_Junior
3
EURUSD Potential Forecast | Wednesday 1st February 2023Trade Idea 1. Currently on EURUSD, there is a lot of sell side liquidity present as I have marked out via the blue zone 2. Price just broke the weekly low and created a lower low 3. Price is in a bearish trend forming lower lows and lower highs 4. I believe price can potentially come down to clear the sell side liquidity 5. Especially this week with FOMC and NFP coming, there will be a lot of whipsaws and volatility in the market 6. Will be especially risk averse and wait for full confluences before entering onto trades THIS TRADE WILL BE INVALID AFTER TODAY IN LIGHT OF THE HEAVY NEWS. Trade safe guys! Regards, Chern Yu
Short
by Jon_Jones_Junior
1
EURUSD Potential Forecast | Friday 27th January 2023Hi everyone, today I will be talking about a possible EURUSD short trade using Smart Money Concepts. Trade idea 1. Price has swept buy side liquidity above on the weekly 2. Price then had a strong bearish reaction which broke sub-structure 3. Price is currently on a retracement 4. Lower blue zone has been marked out as a potential point of interest to look for short set ups 5. Will wait for confirmations such as a break of structure and sweep of liquidity on LTF Things to take note of: 1. There is fundamental news PCE price release tonight at 930 pm SGT. Do trade safely for those taking the same trade. Trade safe guys! Regards, Chern Yu
Short
by Jon_Jones_Junior
2
DXY Forecast ahead of Core PCE Price Index ReleaseHello guys, Currently DXY is resting on a strong support area at 101.773. Just a quick recap. We had the advanced GDP news release which saw a 2.1% growth in 2022 despite challenges like recession fears and high prices. The job market remained strong and people were optimistic about the future. If the Core PCE Price Index m/m data release yields are better than expected, price can possibly break the descending trend line before heading towards the overlap resistance at 102.821. Alternatively, if the yields are below expectations, expect DXY to head towards the previous weekly swing low at 101.297. Stay safe trading guys! :) Regards, Chen Yongjin
TVC:DXY
by DogeStonks
EURUSD Potential Forecast | Thursday 26th January 2023Hi everyone, today I will be talking about a possible EURUSD long trade using Smart Money Concepts. Trade idea 1. Price has broken structure to the upside on the larger timeframe 2. I believe price is still bullish 3. Price is currently in a retracement 4. have marked out the blue zone as an area that price could potentially tap into where I will be looking to enter 5. Will be awaiting confirmations at those levels Regards, Chern Yu Thank you and do give me boost!
Long
by Jon_Jones_Junior
ADAUSDT Pitchfork, .618 Resistance, Bearish MS, Price Action Evening Traders, Today’s analysis – ADAUSDT – trading in a constructive downtrend with another potential lower high intact, Points to consider, - Price Action Corrective - .618 Resistance - Pitchfork .618 Resistance - VAH Confluence ADAUSDT’s immediate price action is corrective and is has rejected from a key level, allowing for a bearish bias. The level has confluence with the .618 Fibonacci of the Pitch fork and the Fib Retracement ratios, this adds more sifnigicane. The immediate objective is the lower end of the pitch fork, this will continue the overall bearish market structure. Overall, in my opinion, ADAUSDT is a valid short with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps, Thank you for following my work And remember, Trading is mostly a waiting game. if you want action that happens on your own terms, you’re in the wrong field.
Short
by The_Alchemist_Trader_
2