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USD/JPY:BUY From 61.8% FIBO Level Pullback For A LONG SetupUSD/JPY is still in a consolidation area. The technical analysis shows in the last sessions the price reach the bottom around 129.500 Lower-low then a bullish impulse pushed the price to the creation of a new Higher-high at 134.800 where from 6 January the price made a retracement on the 61.8% Fibonacci level, exactly where we are now. Based on our analysis, the pullback on the 61.8% Fibo in confluence with the re-test of the dynamic trendline may push the price higher at least to reach the previous swing high, a possible extension of this movement to area 100% Fibo extension isn't to exclude. The stochastic in 4Hours shows an oversold scenario and our Forecast is about a new Raising of the USD/JPY value.
Long
by FOREXN1
5
GOLD:SELL From 1,880 Resistance Key For A SHORT SetupPowell is scheduled to speak at the Riksbank’s International Symposium on Central Bank Independence later during the early North American session. His remarks will be closely scrutinized for clues about the Fed's rate-hike path. The focus, however, remains on the latest consumer inflation figures from the United States (US), due for release on Thursday. The crucial US CPI report will be looked upon for fresh insight into the Fed's policy stance, which will play a key role in determining the near-term trajectory for the non-yielding Gold price. The technical analysis shows a GOLD rejection at the $1,880 level, Gold sellers could fight back the buyers control of the last sessions, prompting a corrective pullback toward the previous day’s low at $1,865. Further declines will challenge the $1,850
OANDA:XAUUSDShort
by FOREXN1
19
EUR/USD:SELL From RESISTANCE Area SHARK Patter SHORT SetupEUR/USD has grown during the Monday session reaching 1.076 the currency pair seesaws around the highest levels since June 2022 as bulls run out of steam. Yesterday we have recognized a Bearish Shark pattern where the price reach the entry point at 1.13% FIBO extension where the price today may have a bearish impulse as retracement after the last bullish rally. The Stochastic is still in the overbought area ready to drop and the Idea will be violated if the price will reach the 1.079 value as a stop loss. Fed Chairman Jerome Powell will participate in a panel discussion and the U.S. will also release inflation data for December. Investors and the Fed will be watching these events closely to see if speculation about central bank easing is correct. Last week's NFP data released showed 223,000 new jobs in the U.S. economy in December and a drop in the unemployment rate to 3.5%. However, investors' attention was drawn to the slowdown in average hourly earnings, which raises hopes of a slowdown in the Federal Reserve's interest rate hikes. The combination of slowing wage growth and declining business activity in the service sector could allow the Fed to moderate the pace of rate hikes at its first meeting of the year on Feb. 1. In the coming weeks, investors should keep an eye on corporate results and inflation. A slowdown in inflation would be positive. On the other hand, investors remain concerned about the risk of recession and its impact on corporate earnings.
Short
by FOREXN1
12
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
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