$USO back to 50 day at minimum AMEX:USO Headed back to the 50 day. Really quick. Will continue watching to see if we hold $69s or break lows. I'm expecting the pullback to resume after a quick stall at the 20day sma. The giveaway that helped pay last time was the rally above the death cross. That first rally is usually bearish as noted in the chart posted. Fast forward and we have the same setup today. Good luck out there.
States
DXY MELTDOWNThe enduring downward trajectory of the USD appears poised to persist in the coming years and even decades. With a staggering $33 trillion debt load that seems insurmountable, coupled with dwindling confidence from international partners who are divesting from the USD, the currency faces significant headwinds. The inevitable repatriation of these dollars to the Federal Reserve, the United States' central bank, exacerbates the downward pressure.
Forecasts indicate that the DXY, reflective of this trend, is likely to dip below $100 and remain there for an extended period. Our analysis underscores this outlook not only for the DXY but also for the USD's performance against other major currencies and assets.
Correlation between USD-KZT with oilHey traders and investors! Just curious anyone ever thought if there is any correlation between the USDKZT rate with oil prices or indices? Looking at other petrocurruncies I am flabbergasted how the USD-KZT can have its own trend and story to stride up and down when there is no reason for that. Have you suspected there is an interference of the clumsy state hand in manipulation of rates?
GBPUSD IDEALooking at #GBPUSD for the week(s) to come. Weekly timeframe we see price reaching the neckline of this W formation and then going back up. Of course we need to have confirmation about this happening thats why we will monitor price action on the 4H timeframe to be sure of when to enter the market!
Patience is the best virtue you can have with the market!
Growth Covid-19 confirmed cases USUS is still on exponential growth curve confirmed cases (no signs of deceleration).
NOTHING MOVES LIKE US30The pip movement range in US30/Dow Jones is crazy.
5 Minutes can be 100 pips.
The risk is high, but the reward can be way higher.
Take care when trading. Make sure you don't leave this trade running too long
"Alcoa: towards the $6 Zone" by ThinkingAntsOk4H Chart Explanation:
- Price broke the Ascending Trendline and started a huge down move.
- Price broke the Support Zone (Resistance Zone now).
- We are expecting a correction that allow us set a trade towards the next Support Zone.
Weekly Vision:
Daily Vision:
Updates coming soon!
"Disney: two possible scenarios" by ThinkingAntsOk4H Chart Explanation:
- Price is on the Ascending Trendline.
- Two possible paths from here: a) breakout and continue the down move. b) up move towards the All Time Highs.
- Wait for a confirmation that indicates which of the two scenarios is the correct.
Weekly Vision:
Daily Vision:
Updates coming soon!
EURUSD (EUR/USD) Buy 1.11500 >>> 1.11950 (Small target)EUR/USD
1) Two days we close above main volume
2) We have two impulses for first target correction
3) We have resistance zone 1.11923
4) We have Low volume trade zone for confirm first target correction
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Buy = 1.11500
Take Profit = 1.11950
Stop Loss = 1.11050
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Potential great rewards on a GBPAUD short!Today I am remaining in a short position long on the GBPAUD due to an AGGRESSIVE sell price action formation, and an overall weakening GBP economy weeks even. Here I have displayed it on my charts. My trading style is trading but you can possibly hold some positions much longer. Check out my analysis I would love you feedback. Happy trading.
GDPUSD: Ascending triangle pattern (Wait for confirmation)After GDP:USD hit a double top at the resistance I've been bearish ever since. I think we will breakout of this ascending triangle pattern.
Wait for confirmation at the lines of the triangle. If breaks down, set a short trade & the target will be the trend line.
If stop-loss is broken go long.