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NASDAQ Pullback before 16,500!On November 17th, the USA's technology stocks index closed with a modest gain of +0.03%. The opening was stable compared to the previous day's closing, followed by a gradual improvement throughout the session. The short-term trend of the Nasdaq 100 is strengthening, with a resistance area identified at 15,956.4, while the nearest support is seen at 15,601.2. An upward continuation towards the level of 16,311.6 is expected. Furthermore, after the breakout from the bearish channel in the daily chart, I anticipate a retracement to the level of approximately 15,200, which corresponds to the 0.5% Fibonacci level. After that, I will aim to ride the upward trend, targeting an entry with a goal between 16,300 and 16,700. Let me know what you think, comment, and leave a like. Greetings from Nicola, CEO of Forex48 Trading Academy.
NASDAQ:NDXLong
by Forex48_TradingAcademy
14
USOIL: Pullback to the upside before the descent! West Texas Intermediate (WTI), the benchmark for U.S. crude oil, has rebounded from a three-month low of $72.22, experiencing a more than 4% increase during the mid-North American session. This rise has been attributed to U.S. sanctions on Russian oil shippers and profit-taking by traders. Currently, WTI is traded at $75.97 per barrel, marking a gain of 4.27%. The U.S. Treasury Department has imposed sanctions on companies and vessels involved in shipping oil beyond the G7's $60 limit, with the aim of reducing Russian profits linked to actions in Ukraine. Despite an increase in U.S. crude oil stockpiles and a rise in Baker Hughes' drilling rig count, indicating growing oil production, WTI prices have not been significantly influenced. Additionally, the price is in a bearish channel with the possibility of a pullback to the upside before resuming the downward trend towards 68 points. Let me know what you think, comment, and leave a like. Greetings from Nicola, the CEO of Forex48 Trading Academy.
TVC:USOILShort
by Forex48_TradingAcademy
13
Xau/Usd (Gold)Hello traders! The xau/usd (gold) pair is in a triangle pattern. In my opinion, there are two scenarios. Scenario number 1: The pair should test the level of 1975.00 and then take a buy move at the level of 1992.0 and continue a buy move towards the level of 2009.33. Scenario number 2: The pair should test the level of 1975.00 and then take a buy move at the level 1992.0 without breaking the line to go to the level of 1941.00. Wait to enter the trade! Be careful! Don`t forget to look at the economic calendar! MAKE MONEY AND ENJOY LIFE 💰 THANK YOU! GOOD LUCK! 🙏🏻🙏🏻🙏🏻
FX:XAUUSD
by THP-Forex-Academy
2
APP Entry, Volume, Target, StopEntry: with price above 44.89 Volume: with volume greater than 5.615M Target: 53.30 area (this is an area, no guarantee it reaches this price, but you should be selling on the way up) Stop: Depending on your risk tolerance; Based on an entry of 44.90, 42.19 gets you 3/1 Reward to Risk Ratio. This LONG swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
NASDAQ:APPLong
by tradepatiently
2
GOLD SELL TILL 24 NOV 2023 On 24th Nov, Friday, or 27th Nov, Monday, gold will create a low at 1924 and change the market to buy. Also, on 27th Nov, it's a full moon, so we are expecting a change of trend from 24th Nov or 27th Nov. The market will create a major low, and on 12th Dec, gold will create a high of 1998, and the trend will change to sell. Let's see how the market will respect our analysis. Previous analyses indicate that gold followed very beautifully; let's observe this one.
FXOPEN:XAUUSDShort
by ganntimetrader
XAUUSD: Breakout of 2000 in sight!Gold, consolidating above $1,980 this Friday, aims to break a two-week downtrend. Despite the potential for a US dollar recovery, the decline in Treasury bond yields supports gold's upward movement. Surging above the 21-day Simple Moving Average at $1,974, Thursday's close motivated buyers. The 14-day Relative Strength Index remains comfortably above the midline, confirming the upward trend. The next challenge is the descending trendline resistance at $1,992, near the November 6 high of $1,993. A breakthrough could push buyers to target the psychological $2,000 level. In case of selling pressure, initial support lies at the 21-day SMA at $1,974, with a risk of rapid decline to $1,960. Further downward extension may test psychological support at $1,950. Gold remains influenced by risk trends and Federal Reserve statements. US-China trade tensions and Fed rate uncertainty keep investors cautious. In a market of uncertainty, the safe-haven US dollar limits gold's upward attempts. However, gold benefits from recent Treasury bond yield declines, with hopes the Fed's rate-hiking cycle is done and rate cuts are anticipated by May next year. Weak US economic data reinforced expectations of a Fed pause, justifying the gold surge. In October, the US Producer Price Index had its steepest decline in three and a half years, and Consumer Price Index inflation dropped to 3.2% YoY. Retail sales fell 0.1% in October. Thursday saw US initial claims rise by 13,000 to 231,000 for the week ending November 11. Gold prices are likely to maintain an upward trend, but end-of-week profit-taking and a potential US dollar recovery may pose challenges. Data on US housing starts and building permits are expected to have a limited impact on US dollar trading.
OANDA:XAUUSDLong
by Forex48_TradingAcademy
11
GBP/USD: Pullback after Asia and ahead of 1.27.GBP/USD is moving sideways with a negative tone near 1.2410 during the Asian hours on Friday. The US Dollar (USD) finds support despite positive data on US jobless claims and a decrease in US Treasury yields. Continuing Jobless Claims for the week ending on November 3 increased to the highest level since 2022 at 1.865 million, compared to the previous reading of 1.833 million. Additionally, Initial Jobless Claims for the week ending on November 10 rose to 231,000, exceeding the expected 220,000, marking the highest level in nearly three months. Despite challenging labor market indicators, the US Dollar Index (DXY) recovered ground. Notably, the yield on the 10-year Treasury note bottomed at 4.43% on Thursday. However, it is observed that the DXY is bidding lower around 104.30 at the time of writing. Federal Reserve representatives have spoken out to counter expectations of rate cuts. Cleveland Fed President Loretta Mester emphasized that the US central bank is data-dependent when considering whether to raise rates further, reflecting the nuanced approach taken in response to economic conditions. The UK inflation report for October revealed a notable decline in the annual rate of the Consumer Price Index (CPI), dropping to 4.6% from the previous level of 6.7%. The monthly rate also eased to 0.0%, falling short of the expected 0.1%. Core CPI (Year-on-Year) also contracted to 5.7% from the previous reading of 6.1%. Despite the Bank of England (BoE) emphasizing the need for higher rates, market participants are not anticipating more rate hikes. Investors are awaiting key economic indicators, focusing on UK Retail Sales and US housing data. Additionally, I note how the price has reacted at the level of 1.25, near the 0.5% Fibonacci level, during the Asian session. I expect a slight pullback to regain liquidity below the Asian session low before aiming for a long position towards 1.27. Let me know what you think, leave a like and comment. Greetings and happy trading from Nicola, CEO of Forex48 Trading Academy.
Long
by Forex48_TradingAcademy
18
EUR/USD: Two long scenarios with a target of 1.09!The EUR/USD currency pair recently reached a high of 1.0896, the highest level since late August, before experiencing a slight pullback below 1.0850. Despite softer-than-expected US economic data and lower Treasury yields, the pair remains above its moving averages on the daily chart. The short-term technical outlook suggests a potential upward movement, with indicators on the 4-hour chart showing signs of recovery. The US Dollar has modestly recovered after a recent decline, as investors anticipate the Federal Reserve's reluctance to further raise rates and the possibility of a new rate-cut cycle. Financial markets turned optimistic, leading to a decline in the safe-haven US Dollar and pushing EUR/USD closer to 1.0900. It's noted that other US economic data indicates a relatively stronger local economy, which could potentially strengthen the US Dollar in the future. Before Wall Street's opening, ECB President Christine Lagarde highlighted the resilience of the European financial system in avoiding severe systemic risks. On the daily chart, two possible long scenarios are marked, one with a retracement, which is the one I will target for a long entry, and then the second scenario that predicts a direct rise tomorrow towards 1.09. Comment and leave a like, greetings from Nicola, the CEO of Forex48 Trading Academy.
Long
by Forex48_TradingAcademy
10
Gold Surges on Weaker US Inflation DataThe price of gold has experienced substantial gains, surpassing $1,950 following a less pronounced increase than anticipated in the US Consumer Price Index (CPI) for October. This has led traders to scale back their bets on a December Federal Reserve rate hike. The US dollar slid in tandem with US Treasury bond yields due to disappointment in US inflation data. Currently, the price of gold is confined to a narrow range, correcting towards the 38.2% Fibonacci retracement, situated around $1,933.80. The short-term outlook has turned bearish, with gold trading below the 20-day Exponential Moving Average (EMA), although the 50-day EMA at approximately $1,938.00 continues to provide support. Investors await October's US inflation data, hoping for clarity on monetary policy. Economists project steady growth in the core Consumer Price Index (CPI) but a slowdown in overall inflation. Persistent US inflation could fuel expectations of further restrictive measures by the Federal Reserve (Fed), committed to timely reducing inflation to 2% and prepared to raise rates if deemed necessary.
OANDA:XAUUSDLong
by Forex48_TradingAcademy
11
GBP/USD. Two Upside Scenarios Today!During Thursday's Asian session, the GBP/USD pair consolidated, oscillating in a narrow range and maintaining spot prices above the 1.2400 level, influenced by the dynamics of the US Dollar (USD). The USD Index (DXY), which tracks the USD against a basket of currencies, struggled to capitalize on the modest recovery from the lowest level since September 1 due to dovish expectations from the Federal Reserve (Fed). Bets increased following the softer US CPI report released on Tuesday, indicating consumer inflation was cooling faster than expected. Moreover, markets are now pricing in a higher probability that the Fed will begin cutting rates in the first half of 2024, keeping US Treasury bond yields low and acting as a headwind for the dollar. However, upside prospects are limited by the growing acceptance that the Bank of England (BoE) may soon start cutting interest rates. The UK Consumer Price Index (CPI) on an annual basis dropped significantly from 6.7% to 4.6% in October, hitting a two-year low. Additionally, Core CPI declined from 6.1% in September to 5.7%. In this mixed fundamental context, aggressive traders should exercise caution before establishing a firm direction in the short term, especially in the absence of relevant macroeconomic data from the UK on Thursday. Meanwhile, the US economic calendar features the usual Weekly Initial Jobless Claims, Philly Fed Manufacturing Index, and Industrial Production figures. These, along with US bond yields and overall risk sentiment, could influence USD price dynamics and offer short-term opportunities in the GBP/USD pair. I have also identified two possible price scenarios: the first anticipates an upward price movement during the London session as we are in an Order Block at the 1.24 level, and the price could retest the supply zone at 1.249. The second scenario suggests a decline to the 0.5% Fibonacci level calculated from the low of 1.207 to the high of 1.251. If it retraces to this Fibonacci level and tests the bullish trendline again, the price could push higher. Comment and leave a like; greetings from Nicola, the CEO of Forex48 Trading Academy.
Long
by Forex48_TradingAcademy
16
XAUUSD Finally the price is ready to go up!The price of gold (XAU/USD) has dropped to approximately $1,940 and faces further decline due to several challenges. Factors include the absence of significant tensions in the Middle East, hawkish statements from Federal Reserve Chair Jerome Powell, and uncertainty preceding the release of the US Consumer Price Index (CPI) data for October on Tuesday. Investors are closely monitoring the upcoming US inflation data, which is expected to provide insights into the Federal Reserve's monetary policy for its final 2023 meeting in December. Despite the potential for persistent inflation data leading to a December interest rate hike, markets generally anticipate the Fed to maintain unchanged rates. Jerome Powell and colleagues emphasized an ongoing commitment to curbing inflation, with Powell expressing uncertainty about the current interest rates' adequacy. St. Louis Fed interim President Kathleen O'Neill Paese supported Powell's stance, cautioning against ruling out further rate hikes. The subdued appeal for gold is also attributed to the lack of a significant escalation in the Israel-Palestine conflict. The US Dollar Index (DXY) faces pressure, and there's anticipation that the Fed might initiate a rate-cutting cycle in mid-2024, as projected by economists at Morgan Stanley. Technical analysis indicates that the gold price is declining toward $1,930, with near-term demand impacted by various challenges, and the correction extending close to the 50-day Exponential Moving Average (EMA) at $1,940. The next support level is expected near the 200-day EMA at approximately $1,915.
OANDA:XAUUSDLong
by Forex48_TradingAcademy
5
USD/JPY Liquidity Take Before 145!The USD/JPY exchange rate is trading in positive territory for the sixth consecutive day during Monday's Asian trading hours. The exchange rate's growth is supported by higher yields on US Treasury bonds and hawkish comments from Federal Reserve (Fed) Chairman Jerome Powell. Currently, the exchange rate is around 151.70, gaining 0.10% for the day. USD/JPY continues its winning streak for the fifth consecutive day, trading higher around 151.40 during the early European session on Friday. Unexpectedly hawkish comments from Fed Chairman Jerome Powell had a significant impact, boosting yields on US Treasury bonds and strengthening the US dollar (USD) against the Japanese yen (JPY). However, Japanese authorities may consider intervention to curb the advance of the USD/JPY exchange rate in response to these developments. Powell's statement at the International Monetary Fund (IMF) event on Thursday expressed concern that current policies may not be sufficient to curb inflation. Nevertheless, the Japanese yen continues to face pressure as plans to exit accommodative policy may be delayed due to lower wage growth. Decent wage growth is considered a crucial factor for the Japanese central bank to contemplate an exit from prolonged accommodative monetary policy. The market has reached the October 2022 high, and in this area, after breaking an uptrend channel on the daily chart, the market could experience a false breakout of highs, leading to a sharp decline towards 145. Let me know what you think, regards from Nicola, the CEO of Forex48 Trading Academy.
Short
by Forex48_TradingAcademy
9
Strong Surge in the US Technology Index and Growth ProspectsThe USA technology stocks index has experienced a significant increase, closing the session with a gain exceeding 2.25% compared to previous values. The day started with determination, opening at 15,252.4 points, slightly below the highs of the previous session. Throughout the day, quotations strengthened, culminating in a closing upswing at 15,529.1, near session highs. Analyzing the short-term technical picture of the Nasdaq 100, there is an upward acceleration of the curve with a target set at 15,653.9. There is a risk of a descent to 15,279.7, but this temporary correction should not compromise the solidity of the current trend. The outlook points to an extension of the bullish trend, with a target of 16,028. Farewell and have a great weekend from Nicola, the CEO of Forex48 Trading Academy
CME_MINI:NQ1!Long
by Forex48_TradingAcademy
4
EUR/USD Roadmap from 1.06 to 1.07The EUR/USD cross struggles to find a direction on Friday, oscillating in a narrow range just below 1.0700. US consumer confidence, according to the UoM index, fell below expectations, weakening to 60.4 in November from 63.8 in October. Wall Street operates in positive territory after Thursday's decline, influencing the demand for US dollars. The Relative Strength Index (RSI) on the 4-hour chart retreated below 50, while EUR/USD dropped below the mid-point of the ascending regression channel, indicating a bearish tilt in the short-term outlook. If EUR/USD fails to stabilize above 1.0680 (mid-point of the ascending channel), sellers' interest could persist. In this scenario, the 50-period Simple Moving Average (SMA) acts as provisional support at 1.0660 before 1.0640 (Fibonacci 38.2% retracement level of the latest downtrend) and 1.0620 (lower limit of the ascending channel, 100-period SMA). On the upside, resistances are located at 1.0700 (Fibonacci 50% retracement), 1.0730 (upper limit of the ascending channel), and 1.0750 (Fibonacci 61.8% retracement). EUR/USD came under bearish pressure and declined below 1.0700 in the late American session on Thursday. The pair stays relatively quiet early Friday, while the technical outlook indicates a slightly bearish bias. During participation in a monetary policy panel organized by the International Monetary Fund on Thursday, Federal Reserve Chairman Jerome Powell reiterated the data-dependent approach. "We are making decisions meeting by meeting, based on the totality of the incoming data and their implications for the outlook for economic activity and inflation," Powell stated. However, Powell noted that they are not confident that they have achieved a 'sufficiently restrictive' policy stance to bring inflation down to 2% over time. This comment provided a boost to the US Dollar (USD) and caused EUR/USD to turn south. Nevertheless, the CME Group FedWatch Tool shows that markets are still pricing in a 90% probability of the Fed leaving the policy rate unchanged in December. The market positioning suggests that there is more room for USD strength if other policymakers adopt a similar language. Additionally, EUR/USD presents a possibility of retracement to the 62% Fibonacci level as it currently sits between the 0.38% and 0.5% levels, touching the price of 1.062 before rebounding to the 1.07 level. Let me know what you think. Happy trading to everyone from Nicola, the CEO of Forex48 Trading Academy.
Long
by Forex48_TradingAcademy
3
NZDJPY SELL | Day Trading AnalysisHello Traders, here is the full analysis. Watch strong action at the current levels for SELL. GOOD LUCK! Great SELL opportunity NZDJPY I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Short
by TheGrove
20
XAU/USD Pullback to 1950 after NFP?The price of gold is consolidating just below the $2,000 level at the beginning of the week on Monday. This comes as the United States Dollar (USD) and US Treasury bond yields are attempting to find stability in a market environment that is inclined towards risk-friendly sentiment. Gold has faced challenges staying above the $2,000 threshold on multiple occasions last week, finding demand at lower levels. An immediate support is available at the rising trendline, situated at $1,975. If this support is breached, the November low at $1,9769 may be revisited. Failing to hold above this level could lead to a test of the static support at $1,960, potentially opening the path to the psychological level of $1,954. On the upside, breaking and maintaining above the $2,000 level is crucial to initiate a significant uptrend. A strong resistance barrier is present around the multi-month high of $2,009, coinciding with a horizontal resistance. The next significant level for Gold buyers is near the mid-May high, around $2,020. The Unemployment Rate increased to 3.9% compared to the expectation of 3.8%. Asian markets are following the positive closing on Wall Street from last Friday, buoyed by optimistic remarks made by China's Premier Li Qiang over the weekend. Li reaffirmed China's commitment to maintaining its pace of opening up and sharing development opportunities with the world. However, the US Dollar is seeing a minor rebound in Asia on Monday, benefiting from a slight uptick in US Treasury bond yields as investors adjust their positions for the new week. Additionally, during the Asian session, the price broke a swing high at the level of 1987.50, which is leading the price towards a pullback in the direction of around 1950, where there is a significant horizontal support/resistance zone. In that area, it will be important to evaluate possible upward movements and potential market entries at M15/M5, considering that macroeconomic data is scarce this week, and a calmer market could still reveal surprises. Comment and leave a like, have a great start to the trading week, everyone, and greetings from Nicola, CEO of Forex48 Trading Academy.
OANDA:XAUUSDLong
by Forex48_TradingAcademy
5
EUR/USD Pullback Expected Before a New Rally!EUR/USD has gained bullish momentum, surpassing the 1.0700 level for the first time since late September. The upward movement of the pair during the American session was driven by a US Dollar selloff triggered by a weaker-than-expected increase in October's Nonfarm Payrolls. The US Dollar (USD) selloff, which began after the Federal Reserve's monetary policy announcements on Wednesday, continued on Thursday. The USD weakened further against other currencies following disappointing data from the United States, revealing a 0.8% decline in Unit Labor Costs on a quarterly basis in the third quarter and an increase in weekly Initial Jobless Claims from 212,000 to 217,000. Market expectations for the US Nonfarm Payrolls (NFP) in October are an increase of 180,000, following the impressive gain of 336,000 in September. During the post-meeting press conference, Federal Reserve Chairman Jerome Powell emphasized that policy decisions would be based on a comprehensive analysis of data and risk assessment. According to the CME Group FedWatch Tool, the market is currently pricing in a 20% probability of one more rate increase in December. While a strong NFP reading may not significantly change these odds, it could provide an immediate boost to the US Dollar. Conversely, market positioning suggests that there is room for further weakness in the US Dollar if the NFP falls short of expectations, particularly if the report shows a figure at or below 150,000. Additionally, the price is currently within a supply zone between the 1.0690 and 1.0750 levels. At this level, the price may experience a pullback, especially after the bullish momentum led the market to break a swing high at the 1.0676 level. Therefore, I personally expect a retracement before continuing to move long towards the 1.10 level. Let me know what you think, leave a comment, and give a like. Greetings from Nicola, the CEO of Forex48 Trading Academy.
Long
by Forex48_TradingAcademy
7
AFRM Affirm Holdings Options Ahead of EarningsIf you haven`t bought AFRM ahead of the previous earnings: or when you saw those big puts adding: Then Analyzing the options chain and the chart patterns of AFRM Affirm Holdings prior to the earnings report this week, I would consider purchasing the 20usd strike price Puts with an expiration date of 2024-1-19, for a premium of approximately $2.17. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NASDAQ:AFRMShort
by TopgOptions
US30 After the FED, 36,000 incoming!Regarding yesterday's trading day: Checked progress for the American index, which closed up by 0.66%. The start of the day was quite promising for the index, marking an initial price at 33,988.8 points, staying above the peaks from November 2nd and continuing to rise during the session. Currently, the short-term outlook for the Dow Jones indicates a strong ascent with a target set at 34,438.8. In case of a temporary correction, the immediate target is seen at 33,306.4. However, expectations are for the curve to rise further to reach the peak at 35,571.1. Resistance 2: 34,438.8 Resistance 1: 34,061.3 Support 1: 32,551.5 Support 2: 0.7642
BLACKBULL:US30Long
by Forex48_TradingAcademy
10
GOLD Pullback and then Target 2100.On Friday, the XAU/USD pair reached an intraday high of just under $2,005, in response to the disappointing US Nonfarm Payrolls (NFP) report, which marked the weakest performance in almost three years. However, Gold prices managed to recover to the midrange of the day's trading, ultimately closing near $1,992.50. The NFP report for the US fell short of expectations, revealing that the US added only 150 thousand jobs in October, a significant decline from the previous month's robust figure of 297 thousand job additions, which had already been revised downward from the initial estimate of 336K. Market expectations were initially set at 180K for the October reading. This headline miss led to a surge in global markets as investors welcomed the potential halt to Federal Reserve (Fed) interest rate hikes. Earlier in the week, Gold reached a weekly high of $2,008 but later dipped to a low of $1,970. Despite the disappointing NFP report, Gold faced challenges in securing substantial gains. This is due to the prevailing caution among investors regarding cooling US economic data. Inflation and excessive wage growth continue to be pivotal concerns for the Fed. Therefore, a single subpar NFP reading is unlikely to alter the Fed's stance on maintaining higher interest rates for an extended period. Currently, money markets are pricing in the likelihood of a full percentage point interest rate cut by the end of 2024, but this projection may be premature, given the Fed's efforts to manage price volatility. In the near term, Spot Gold bids indicate the formation of a rising channel, with XAU/USD trading on the positive side of the 200-hour Simple Moving Average (SMA), which is currently trending upward from $1,985. As shown on the chart, in the weekly timeframe, gold broke out of a bearish channel after bouncing in the 0.5 Fibonacci retracement zone. It is currently at the level of 1992 and may experience a pullback to around 1910 before resuming its upward move towards 2100. Let me know what you think, and I wish everyone a great weekend. Regards from Nicola, CEO of Forex48 Trading Academy.
OANDA:XAUUSDLong
by Forex48_TradingAcademy
5