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EUR/USD:SELL From 1.0700 Area SHARK Pattern SHORTEUR/USD advances for the second session in a row on Monday and prints new multi-day highs in the 1.0700 neighborhood amidst the persistent selling bias around the US dollar. After the solid bullish impulse of Friday, the price has now formed a reversal Shark pattern exactly on the 1.0700 Area. The Stochastic indicator shows a Divergence and an overbought scenario. Our Idea is about a Bearish forecast with a mitigation of the price by the EUR.
Short
by FOREXN1
8
GBP/USD:SELL From Breakout Support For A New SHORT SetupThe pair GBP/USD is testing the support at 1.1800 and keeps the potential for an even greater decline. The pressure on the pound continues to be exerted by the worsening economic situation in England, as well as the local strengthening of the dollar. The UK economy is facing unprecedented domestic challenges, including high inflation, falling citizen wealth, rising costs of living, a record influx of migrants, and growing dissatisfaction with working conditions among public sector workers. In particular, the British Rail, Maritime and Transport Trade Union (RMT) reports that about 40,000 rail workers are already taking part in this week's protest, demanding higher wages and reversing management's decisions to cut staff. For this reason, about 62,000 trains may be canceled, which will make it difficult for Britons to return to the country after the Christmas holidays. The situation is complicated by a possible political crisis since after the failures of the Liz Truss government there is still discontent in society and the level of skepticism towards the new government is growing. In his New Year's address, Prime Minister Rishi Sunak said that his government would put the needs of the population first this year and would make every effort to resolve the crisis. At the same time, the representatives of the Bank of England said that the British economy in 2023 will face a recession, which may be the most severe compared to other G7 countries.
Short
by FOREXN1
15
GOLD:SELL Scenario After Pullback 1840 For A SHORT SetupGOLD started to make Lower-highs and Lower-lows where firstly a breakout and after a pullback of the 1840.00 level turn the scenario for the precious metal to the bearish side. Today the Economic calendar shows a full day of key events like the US Unemployment Rate, Average Hourly, Non-Farm Employment Change, and Unemployment Rate. This economic news can affect negatively all the European currencies as well for the XAU highly correlated.
OANDA:XAUUSDShort
by FOREXN1
8
EUR/USD:SELL From Breakout 1.0500 Support For A SHORT SetupEUR/USD: The Dollar Index recovers value; the next target is 106.000 so all the pairs against the USD may have a drop today, this is the scenario for the EUR/USD inside a Bearish channel where in the last hours it started to make Lower-highs and Lower-lows where a possible breakout of the support at 1.0500 may let drop the price between 50 and 100 pips. Today the Economic calendar shows a full day of key events like the US Unemployment Rate, Average Hourly, Non-Farm Employment Change, and Unemployment Rate. Our forecast is bearish.
Short
by FOREXN1
9
EUR/USD:BUY From 1.061 Area For A LONG Setup - READEUR/USD is still inside a Bullish channel where in the past hours the price continues to stay inside an accumulation area where a daily uptick in the pair comes in line with a so far small bounce in the German 10-year Bund yields. Meanwhile, The US currency despite showing inclinations to rise to higher levels has managed to push the European currency to the level of 1,0610 losing part of the gains and although yesterday's announcements were also quite positive did not manage to create again momentum in favor of the dollar, but only managed to put a brake on the further euro reaction. Today's ADP Non-Farm Employment Change will be crucial for the price to understand the next move, especially if the estimated change in the number of employed people during the previous month, excluding the farming industry and government will be less than the forecast.
Long
by FOREXN1
23
GOLD:BUY From Previous Support FLAG Pattern 50% FIBO LONG !GOLD inside a Bullish channel in the last hours the price make a raising Flag pattern where the price finds a pullback in the previous support area in confluence with the 50% Fibo Levels. In this Area, the price seems today to react with a new bullish impulse and today's ADP Non-Farm Employment Change will be crucial for the price to understand the next move, especially if the estimated change in the number of employed people during the previous month, excluding the farming industry and government will be less than the forecast or the previous month.
OANDA:XAUUSDLong
by FOREXN1
10
AUD/USD:BUY From Support Level FIBO For A New LONG SetupAUD/USD it's inside a Bullish channel in the last session the price had a pullback in the previous support area 0.6800, where in confluence with the Major Fibo Levels the price may have a new Bullish impulse. Today the ADP Non-Farm Employment Change, the estimated change in the number of employed people during the previous month, excluding the farming industry and government may give a bullish impulse to the AUD if the number of employees will be less than the forecast or the previous month.
Long
by FOREXN1
7