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GOLD : PRICE REBOUND ON SUPPORT AREA | READY TO GROW !Hello Everyone, I hope you'll Appreciate our Price action Analysis ! Our strategy is based on Swing trading with price action Analysis and Advanced Fibos tools. Please support our page by hitting the LIKE 👍 button to this Idea and Follow us to get NEW ONE! Feel free to request any pair/instrument analysis or ask any questions in the comment section below. If you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Have a Good Take Day_Profits !
OANDA:XAUUSDLong
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GBP/NZD:UPTREND BULLISH CHANNEL | PRICE IS GROWING | LONG Hello Everyone, I hope you'll Appreciate our Price action Analysis ! Our strategy is based on Swing trading with price action Analysis and Advanced Fibos tools. Please support our page by hitting the LIKE 👍 button to this Idea and Follow us to get NEW ONE! Feel free to request any pair/instrument analysis or ask any questions in the comment section below. If you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Have a Good Take Day_Profits !
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AUD/CHF : RETEST PREVIOUS AREA | SHORT SETUP | SHORT ⭐️Hello Everyone, I hope you'll Appreciate our Price action Analysis ! Our strategy is based on Swing trading with price action Analysis and Advanced Fibos tools. Please support our page by hitting the LIKE 👍 button to this Idea and Follow us to get NEW ONE! Feel free to request any pair/instrument analysis or ask any questions in the comment section below. If you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Have a Good Take Day_Profits !
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EUR/JPY:UPTREND PRICE ACTION LONG SCENARIO | LONG Hello Everyone, I hope you'll Appreciate our Price action Analysis ! Our strategy is based on Swing trading with price action Analysis and Advanced Fibos tools. Please support our page by hitting the LIKE 👍 button to this Idea and Follow us to get NEW ONE! Feel free to request any pair/instrument analysis or ask any questions in the comment section below. If you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Have a Good Take Day_Profits !
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EUR/CAD:PRICE ACTION | PRICE IS FALLING AFTER TOP/DIV. SHORTHello Everyone, I hope you'll Appreciate our Price action Analysis ! Our strategy is based on Swing trading with price action Analysis and Advanced Fibos tools. Please support our page by hitting the LIKE 👍 button to this Idea and Follow us to get NEW ONE! Feel free to request any pair/instrument analysis or ask any questions in the comment section below. If you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Have a Good Take Day_Profits !
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EUR/USD:TECHNICAL ANALYSIS | REVESAL ON DIVERGENCE | LONG ⭐️Hello Everyone, I hope you'll Appreciate our Price action Analysis ! Our strategy is based on Swing trading with price action Analysis and Advanced Fibos tools. Please support our page by hitting the LIKE 👍 button to this Idea and Follow us to get NEW ONE! Feel free to request any pair/instrument analysis or ask any questions in the comment section below. If you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Have a Good Take Day_Profits !
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EUR/USD:FUNDAMENTAL+TECHNICAL ANALYSIS | REVERSAL| LONG 🔔 EUR/USD drops to fresh 5-year lows in the sub-1.0600 area EUR/USD extends the leg lower to the area below 1.0600. The greenback trades in cycle peaks, US yields regain composure. Germany GfK Consumer Confidence deteriorated in May. Sellers remain well in control of the sentiment around the single currency and drag EUR/USD to the 1.0590/85 band, or new 5-year lows, on Wednesday. EUR/USD weaker on USD-strength, geopolitics EUR/USD loses ground for the fifth session in a row midweek amidst the continuation of the strong march north in the dollar and persistent geopolitical concerns, particularly around the potential EU embargo on Russian oil. In the German debt markets, the 10y bund yields hover around 0.80% amidst the renewed multi-session weakness, whereas US yields regain some upside traction following the recent corrective leg. In the domestic calendar, Germany Consumer Confidence tracked by GfK worsened to -26.5 for the month of May. Later on Wednesday, ECB’s Lagarde is also due to speak. In the US docket, weekly Mortgage Applications come in the first turn seconded by Trade Balance figures and Pending Home Sales. What to look for around EUR EUR/USD’s price action shows further deterioration and revisits the sub-1.0600 area for the first time since April 2017. The outlook for the pair still remains tilted towards the bearish side, always in response to dollar dynamics, geopolitical concerns and the Fed-ECB divergence. Occasional pockets of strength in the single currency, in the meantime, should appear reinforced by speculation the ECB could raise rates at some point around June/July, while higher German yields, elevated inflation and a decent pace of the economic recovery in the region are also supportive of an improvement in the mood around the euro. Key events in the euro area this week: Germany GfK Consumer Confidence (Wednesday) – ECB 2021 Annual Report, Consumer Confidence, Economic Sentiment, Germany Flash Inflation Rate (Thursday) – Germany, EMU Flash Q1 GDP Growth Rate, EMU Flash Inflation Rate (Friday). Eminent issues on the back boiler: Asymmetric economic recovery post-pandemic in the euro area. Speculation of ECB tightening/tapering later in the year. Second round of the presidential elections in France (April 24). Impact on the region’s economic growth prospects of the war in Ukraine.
Long
by FOREXN1
2
GOLD:PRICE ACTION ON DEMAND AREA | DIVERGENCE | PRICE WILL GROW!Gold: Consolidation at the current level or a move below the $1890 support level? Looking at XAUUSD Chart, we can see it was trading relatively steadily in the $1950 range at the on the 21st of April, until the breakdown from its support level of $1932 on the 23rd of April, falling well into the $1900 range and finding new support at the $1890. It was last found trading at the $1897 range just above the $1890 closest support level and has the closest temporary overhead resistance around the $1910 level. Today we can expect consolidation at the current level or move below the $1890 support level. However, if it manages to hold above the current level, then a move towards the $1910 the closest resistance level of $1910 can be expected.
OANDA:XAUUSDLong
by FOREXN1
2
ETH/BTC : PRICE READY TO GROW AFTER REBOUND | LONG SETUP Hello Everyone, I hope you'll Appreciate our Price action Analysis ! Our strategy is based on Swing trading with price action Analysis and Advanced Fibos tools. Please support our page by hitting the LIKE 👍 button to this Idea and Follow us to get NEW ONE! Feel free to request any pair/instrument analysis or ask any questions in the comment section below. If you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Have a Good Take Day_Profits !
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GBP/AUD:DOWNTREND | PRICE ACTION | SHORT SETUP⭐️Hello Everyone, I hope you'll Appreciate our Price action Analysis ! Our strategy is based on Swing trading with price action Analysis and Advanced Fibos tools. Please support our page by hitting the LIKE 👍 button to this Idea and Follow us to get NEW ONE! Feel free to request any pair/instrument analysis or ask any questions in the comment section below. If you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Have a Good Take Day_Profits !
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AUD/CHF: PRICE ACTION | RETEST PATTERN AND SHORT SETUP ⭐️Hello Everyone, I hope you'll Appreciate our Price action Analysis ! Our strategy is based on Swing trading with price action Analysis and Advanced Fibos tools. Please support our page by hitting the LIKE 👍 button to this Idea and Follow us to get NEW ONE! Feel free to request any pair/instrument analysis or ask any questions in the comment section below. If you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Have a Good Take Day_Profits !
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EUR/CAD:PRICE ACTION | PRICE IS FALLING AFTER TOP/DIV. SHORTHello Everyone, I hope you'll Appreciate our Price action Analysis ! Our strategy is based on Swing trading with price action Analysis and Advanced Fibos tools. Please support our page by hitting the LIKE 👍 button to this Idea and Follow us to get NEW ONE! Feel free to request any pair/instrument analysis or ask any questions in the comment section below. If you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Have a Good Take Day_Profits !
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EUR/USD:TECHNICAL ANALYSIS | REVERSAL SETUP | LONG ⭐️Hello Everyone, I hope you'll Appreciate our Price action Analysis ! Our strategy is based on Swing trading with price action Analysis and Advanced Fibos tools. Please support our page by hitting the LIKE 👍 button to this Idea and Follow us to get NEW ONE! Feel free to request any pair/instrument analysis or ask any questions in the comment section below. If you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Have a Good Take Day_Profits !
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GOLD:FUNDAMENTALS + TECHNICAL ANALYSIS | SHORT TERM TRADE 🔔Gold Price Forecast: XAU/USD bears have the upper hand, focus on yields/Fed’s Powell Gold struggled to capitalize on the previous day’s goodish recovery move from over a one-week low. Aggressive Fed rate hike bets revived the USD demand and acted as a headwind for the commodity. The Ukraine crisis and inflation fears could help limit losses ahead of Fed Chair Powell’s appearance. Gold stalled this week's corrective pullback from the vicinity of the $2,000 psychological mark and attracted some buying near the $1,939 area on Wednesday. Retreating US Treasury bond yields prompted some USD profit-taking following the recent runup to the highest level since March 2020, which, in turn, benefitted the dollar-denominated commodity. Apart from this, concerns around the Russia-Ukraine conflict and rising inflationary pressures further boosted the metal's appeal as a hedge against rising costs. That said, hawkish Fed expectations acted as a tailwind for the US bond yields and the buck, which, in turn, capped the non-yielding yellow metal, instead attracted some selling during the Asian session on Thursday. The markets seem convinced that the Fed would tighten its monetary policy at a faster pace to curb soaring inflation and have been pricing in multiple 50 bps rate hikes. The bets were reinforced by comments by a slew of influential FOMC members since the beginning of this week. St. Louis President James Bullard said on Monday that the US central bank shouldn’t rule out rate increases of 75 bps. Moreover, Chicago Fed President Charles Evans said on Tuesday that he is "comfortable" with a round of rate hikes this year that includes two 50 bps increases. Adding to this, Minneapolis Fed President Neel Kashkari - one of the more dovish FOMC members - noted that policymakers will need to take even more aggressive action to bring down inflation. Hence, the market focus will remain glued to Fed Chair Jerome Powell's speech at an International Monetary Fund event later during the US session. In the meantime, traders will take cues from the US economic docket, featuring the release of the Philly Fed Manufacturing Index and the usual Weekly Initial Jobless Claims later. This, along with the US bond yields, will influence the USD price dynamics and provide some impetus to the XAU/USD. Apart from this, fresh developments surrounding the Russia-Ukraine saga should contribute to producing short-term trading opportunities around gold. Technical outlook From a technical perspective, the overnight bounce faltered near an ascending trend-channel support breakpoint, now turned resistance. This comes on the back of the recent failure just ahead of the critical $2,000 level and favours bearish traders. A convincing break below the $1,940-$1.935 region will reaffirm the negative bias and make gold vulnerable. Spot prices could then turn vulnerable to accelerate the fall towards the $1,916 intermediate support before eventually dropping to sub- $1,900 levels or March swing lows. Some follow-through selling would mark a fresh bearish breakdown and pave the way for a further near-term depreciating move. On the flip side, the aforementioned $1,960 support-turned-resistance coincides with the 38.2% Fibonacci retracement level of the $2,070-$1,890 downfall and should act as a pivotal point. Sustained strength beyond has the potential to lift the XAU/USD towards the 50% Fibo. level, around the $1,980-$1,982 region. The upward trajectory could further get extended and allow bulls to make a fresh attempt to reclaim the $2,000 round figure. The latter marks a confluence region comprising the 61.8% Fibo. level and the top end of the ascending channel, which if cleared decisively will shift the bias in favour of bullish traders.
OANDA:XAUUSDShort
by FOREXN1
1
SHORT POSITIONAscending Triangle An ascending triangle is a type of triangle chart pattern that occurs when there is a resistance level and a slope of higher lows. What happens during this time is that there is a certain level that the buyers cannot seem to exceed. However, they are gradually starting to push the price up as evidenced by the higher lows. you can see that the buyers are starting to gain strength because they are making higher lows. They keep putting pressure on that resistance level and as a result, a breakout is bound In this scenario, the buyers lost the battle and the price proceeded to dive! You can see that the drop was approximately the same distance as the height of the triangle formation. A break below 1.24596, could drive price lower
Short
by AFFINITY_MARKETS
S&P500: Wall Street advances on earnings optimism | LONG 🔔Wall Street advances on earnings optimism, dovish rate rise remarks The three main Wall Street benchmarks had their best days in over a month on Tuesday, with the Nasdaq closing up 2.2%, as investors responded to positive earnings and dovish comments from two U.S. Federal Reserve officials on interest rate rises. Johnson & Johnson advanced 3.1% to a second record close in three sessions, as the drugmaker's quarterly profit exceeded market expectations and it raised its dividend payout. Of the first 49 companies in the S&P 500 index to report quarterly earnings, 79.6% have exceeded profit estimates, as per Refinitiv data. Typically, 66% beat estimates. "It certainly feels like every earnings season, especially since March 2020, is more important than the next, but particularly given where we sit in the economic cycle, the Fed's rate hike cycle, and the elevated inflation backdrop," said Max Grinacoff, equity derivatives strategist at BNP Paribas. International Business Machines Corp gained 2.4%, before ticking up a further 1.8% following its latest numbers report after market close. Meanwhile, Netflix Inc closed 3.2% up, before cratering 24% after the bell when it reported subscriber numbers had declined for the first time in a decade. The streaming company also forecast further losses in the second quarter. St. Louis Federal Reserve Bank President James Bullard on Monday repeated his case for increasing the rates to 3.5% by the end of the year to slow a 40-year-high inflation. He also said he did not rule out a 75 basis points rate hike. Stocks appeared to brush aside the remarks, and the main indexes rallied further in late afternoon trading after both Chicago Federal Reserve Bank President Charles Evans and Atlanta Federal Reserve Bank President Raphael Bostic offered more dovish comments. Bond yields continued their recent moves higher though. The 30-year yield exceeded 3% for the first time since April 2019, while the yield on the 10-year Treasury Inflation-Protected Securities (TIPS) turned positive for the first time since March 2020, the start of the coronavirus pandemic. "We typically assume higher yields should be beneficial for banks, but that correlation has broken down a bit and it's been the sectors most negatively-correlated to rising rates - which have actually rallied," said BNP's Grinacoff. The Dow Jones Industrial Average rose 499.51 points, or 1.45%, to 34,911.2, the S&P 500 gained 70.52 points, or 1.61%, to 4,462.21 and the Nasdaq Composite added 287.30 points, or 2.15%, to 13,619.66. The advances were the most by all three since March 16. Ten of the 11 major S&P subsectors were higher, led by consumer discretionary stocks. Among the best performers in the index were gaming companies, with Wynn Resorts Inc, Caesars Entertainment Inc and Penn National Gaming Inc gaining between 4.9% and 5.9%. Energy stocks fell 1% as oil prices tumbled 5.2% after the International Monetary Fund cut its growth forecasts for the global economy and warned of higher inflation. This year's rally in crude prices, which are still up around a third despite Tuesday's declines, helped Halliburton Co post an 85% rise in first-quarter adjusted profit as demand for its services and equipment increased. However, the oilfield services firm's shares were 0.8% lower, amid the wider slump in energy stocks. Meanwhile, Twitter Inc declined 4.7%. More private equity firms have expressed interest in participating in a deal for the micro blogging site, according to reports. Trading volume on U.S. exchanges was 10.53 billion shares, compared with the 11.67 billion average for the full session over the last 20 trading days. The S&P 500 posted 35 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 70 new highs and 333 new lows.
OANDA:SPX500USDLong
by FOREXN1
6
EUR/USD:FUNDAMENTALS+TECHNICAL ANALYSIS | TRIGGER | LONG 🔔EUR/USD remains bid, extends the upside beyond 1.0800 EUR/USD adds to Tuesday’s gains and tests 1.0840. The dollar trims gains after following recent cycle peaks. Germany Producer Prices rose more than expected in March. The single currency keeps enjoying the renewed optimism and now pushes EUR/USD to new multi-day highs in the vicinity of 1.0850 on Wednesday. EUR/USD looks to yields, USD EUR/USD advances for the second session in a row and extends the recent breakout of the 1.0800 barrier midweek. Further gains in spot come on the back of the renewed offered bias in the buck along with the corrective move in US yields. On the latter, the German 10y benchmark yields give away some gains after trading near the psychological 1.00% hurdle on Tuesday, an area last visited back in mid-July 2015. In the domestic calendar, Germany’s Producer Prices rose at a monthly 4.9% in March and 30.9% over the last twelve months. In addition, the trade deficit in the broader Euroland shrank to €7.6B in February and Industrial Production expanded 2.0% YoY also in the same period. Later in the session, Mortgage Applications and Existing Home Sales are due across the pond, while FOMC’s Evans and Daly are also due to speak. What to look for around EUR EUR/USD regains some composure and trespasses 1.0800, putting further distance from last week’s new 2022 lows in the mid-1.0700s in the wake of the ECB event. Despite the ongoing bounce, the outlook for the pair remains well into the bearish side for the time being, always in response to dollar dynamics and geopolitical concerns. As usual, occasional pockets of strength in the single currency should appear reinforced by speculation the ECB could raise rates before the end of the year, while higher German yields, elevated inflation, the decent pace of the economic recovery and auspicious results from key fundamentals in the region are also supportive of a rebound in the euro. Key events in the euro area this week: EMU Balance of Trade, Industrial Production, IMF World/Bank Spring Meetings (Wednesday) – Final EMU Inflation Rate, Flash EMU Consumer Confidence (Thursday) – EMU, Germany Flash Manufacturing, Services PMIs (Friday). Eminent issues on the back boiler: Asymmetric economic recovery post-pandemic in the euro area. Speculation of ECB tightening/tapering later in the year. Second round of the presidential elections in France (April 24). Impact on the region’s economic growth prospects of the war in Ukraine. EUR/USD levels to watch So far, spot is up 0.46% at 1.0836 and faces the next up barrier at 1.0933 (weekly high April 11) seconded by 1.1000 (round level) and finally 1.1087 (55-day SMA). On the other hand, the break below 1.0757 (2022 low April 14) would target 1.0727 (low April 24 2020) en route to 1.0635 (2020 low March 23).
Long
by FOREXN1
2
USD/CAD:DOWNTREND | FUNDAMENTALS+TECHNICAL ANALYSIS | SHORT 🔔 The Bank of Canada (BoC) is expected to raise rates by 75bp. Subsequently, the loonie is set to strengthen against the euro but weaken against the US dollar due to the stance of the European Central Bank (ECB) and the Federal Reserve (Fed), respectively, economists at Commerzbank report. Further CAD gains against the euro seem possible “On the market more than 75bp are already priced in for the OIS-based rate expectations over the 3-month horizon – i.e. the next two BoC meetings. Depending on whether the US central bank or the ECB is used as a benchmark this seems rather disappointing or quite attractive.” “The loonie will continue to struggle to make significant gains against the USD even if the market increasingly expects one or more 50bp BoC steps. On the other hand, further CAD-gains against the euro seem possible, in particular in view of the continued war in Ukraine.” USD/CAD Price Analysis: Rejection above 200-DMA once again recalls sellers USD/CAD drops back below 1.2600, tracking the pullback in the US dollar. The oil price rebound also lends support to the major. USD/CAD turns lower towards 21-DMA after rejection above 200-DMA. USD/CAD is holding lower ground below 1.2600, undermined by the renewed downside in the US dollar against its major peers. The pullback in the dollar from two-year peaks could be mainly attributed to the steep correction in the USD/JPY pair after it faced rejection just below the 129.50 psychological barrier. Meanwhile, the rebound in the price of WTI on lower US inventories and OPEC+ production levels also added to the weight on the major. All eyes now remain on the Canadian Consumer Price Index (CPI) data and the Fed’s Beige Book to indicate the further direction in the pair. Technically, USD/CAD is turning lower towards the horizontal 21-Daily Moving Average (DMA) support at 1.2554 after having failed to find acceptance above the mildly bullish 200-DMA over the past five trading days. The 200-DMA currently stands at 1.2628.
Short
by FOREXN1
2
GOLD: PENDING ORDER $2000 STRUCTURE | SHORT SETUP 🔔Gold Price looks north as investors seek refuge amid inflation, growth risks. XAUUSD shrugs off firmer US dollar, yields on hawkish Fed’s outlook. Gold bulls keep their sight on $2,000 but acceptance above $1,990 is critical. Having booked the second straight weekly gain, gold price is setting off a new week on the right footing, as bulls regather strength after Good Friday’s brief pullback. XAUUSD is sitting at the highest level since March 14 at $1,989, as the increased demand for safety outweighs the ongoing rally in the US Treasury yields alongside the dollar. With no end in sight to the Russia-Ukraine war and a likelihood of a European Union (EU) embargo on the Russian gas, commodities prices have shot through the roof, intensifying fears over inflation and its impact on the global economy. That said, investors also remain worried about the risks to growth, as major central banks embark upon the path of policy normalization to curb raging inflation. Markets failed to find any comfort from the stronger China’s Q1 GDP data, as investors assess the impact of the recent covid lockdowns and the PBOC’s RRR cut. Meanwhile, the dollar and the yields keep the upside rolling, as a 50-bps May Fed rate hike seems a done deal. The Fed commentary last week hinted that the world’s most powerful central bank looks to return to neutral rates sooner (than later). The ECB’s dovish surprise widened the yield differential in the favor of the dollar and provided extra legs to the upside in the US rates. Looking forward, the negative tone in the market sentiment will continue to keep the haven demand for Gold Price underpinned, although bulls could face an uphill battle should the dollar and yields continue firming up. The speech from the St. Louis Fed President James Bullard will stand out amid a data-scarce US docket and Easter Monday-led thin market conditions.
OANDA:XAUUSDShort
by FOREXN1
2
EUR/USD:FUNDAMENTALS + TECHNICAL ANALYSIS | BULLISH PATTERN LONGEUR/USD bulls are out and about in the run-up to the ECB. The US dollar is giving some relief to the forex space for which the euro is benefitting from. At 1.0902, the euro vs the greenback is higher by 0.13% and has travelled between 1.0882 and 1.0908 within a relatively tight range as markets consolidated within hourly ranges. Traders are awaiting the European Central Bank while the US dollar has been on the back foot on Thursday after tumbling overnight. US yields paused which gave some relief to the beaten-up euro. The US 10-year yield fell 2.4bps to 2.697% after it reached as high as 2.836% on Tuesday, ahead of US inflation figures that missed the mark in the core reading, weighing on the greenback. The two-year yield was also lower at 2.3604%. EURUSD was rising 0.54% on Wednesday, though the single currency fell against sterling. This left the dollar index (DXY) which measures the dollar against six peers, trading between 99.663 and 99.884 in Asia after a 0.52% overnight tumble. Eyes on the ECB The market is getting positioned for a hint that the ECB might draw a line under its quantitative easing programme in the second quarter rather than the third. However, analysts at Westpac expect that the ECB Governing Council will keep its key interest rates on hold at their April meeting, the deposit facility at -0.5%. ''Bond purchases should also continue until June but then most likely cease. The focus will be on President Lagarde’s press conference, including any guidance on how long after the end of QE rates might start to rise, given the difficult combination of inflation a long way above target and growth downgrades due to soaring energy prices.''
Long
by FOREXN1
3