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GBP/USD:TECHNICAL ANALYSIS | 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/USD:FUNDAMENTAL ANALYSIS + PRICE ACTION | LONG SETUPThe GBP/USD pair kicked off the new week on a positive note and built on its recovery from the vicinity of mid-1.1700s, or the lowest level since March 2020 touched last Thursday. The strong intraday move up lifted spot prices to a one-week high and was sponsored by a combination of factors. Several Federal Reserve officials said last week that they were not in favour of a bigger interest rate increase at the upcoming policy meeting on July 26-27. This forced investors to scale back their expectations for the recently talked about 100 bps rate hike next week, which prolonged the US dollar profit-taking slide from a two-decade high. Apart from this, hawkish remarks by Bank of England policymaker Michael Saunders underpinned the British pound and provided a goodish intraday lift to the major. Saunders, who has backed a bigger interest rate rise than most of his colleagues, said that the current tightening cycle may still have some way to go. He further warned that the cost of tightening too slowly was probably higher than the cost of raising rates too much. Saunders added that the benchmark rate could reach 2% or higher next year as the central bank tries to stop the surge in inflation from becoming embedded in the economy. That said, the UK political uncertainty, along with Brexit woes, acted as a headwind for sterling and kept a lid on any meaningful upside for the GBP/USD pair, at least for the time being. The UK Conservative party leadership contest enters a crucial week, with bookmakers seeing a final run-off between Rishi Sunak and Penny Mordaunt as the most likely outcome. Furthermore, investors remain worried that the UK government's controversial Northern Ireland Protocol Bill could trigger a trade war with the European Union amid the ongoing cost-of-living crisis. This, along with the emergence of some USD dip-buying, attracted some sellers at higher levels and forced the GBP/USD pair to retreat around 85 pips from the daily peak. Market participants seem convinced that the recent high US inflation reading, which accelerated to a four-decade high in June, warrants a larger Fed rate hike move later in the year. Apart from this, the overnight turnaround in the US equity markets drove some haven flows back towards the buck. Nevertheless, the pair finally settled in the green for the second straight day and was seen oscillating in a range through the Asian session on Tuesday. Traders now look forward to the monthly UK employment details for a fresh impetus. Later during the North American session, BoE Governor Andrew Bailey's scheduled speech will further influence the GBP price dynamics. On the other hand, the broader market risk sentiment would drive the USD demand. This might further contribute to producing short-term trading opportunities around the GBP/USD pair ahead of the UK consumer inflation figures on Wednesday.
Long
by FOREXN1
1
GBP/CAD:DOWNTREND|NEW SWING 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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GBP/USD: DOWNTREND | $1.2200 NEXT TARGET | SHORT 🔔GBP/USD: A drop to 1.2200 remains on the cards – UOB In opinion of FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang, cable still risks a deeper pullback to the 1.2200 neighbourhood. Key Quotes 24-hour view: “Yesterday, we highlighted that ‘the weakness in GBP appears to have stabilized somewhat’ and ‘GBP is unlikely to weaken much further’. We expected GBP to ‘trade between 1.2270 and 1.2370’. GBP subsequently traded within a wider range than expected (1.2262//1.2405) before closing little changed at 1.2330 (-0.07%). The movement is likely part of a consolidation and we expect GBP to trade between 1.2280 and 1.2410 for today.” Next 1-3 weeks: “We highlighted last Friday (06 May, spot at 1.2370) that GBP could weaken further and support is at 1.2250. GBP dropped to a low of 1.2262 yesterday (09 May) before rebounding. We continue to see risk for a lower GBP even though shorter-term downward momentum has waned somewhat. Overall, GBP has to break clearly below 1.2250 before a move to 1.2200 is likely. On the upside, a breach of 1.2450 (no change in ‘strong resistance’ level from yesterday) would indicate that GBP is not ready to break 1.2250.”
Short
by FOREXN1
5
GBP/NZD: UPDATE | PRICE READY FOR REVERSAL | 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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AUD/NZD:ABCD PATTERN REVERSAL | 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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GBP/USD:DOWNTREND| FUNDAMENTAL + TECHNICAL | SHORT CONTINUATIONGBP/USD traders getting set for NFP, the straw to break the camel's back GBP/USD down looking into the abyss on strong USD. US NFP is now the key event that could be the icing on the cake. At 1.2365, the pound is flat vs. the US dollar but remains in highly bearish territory having collapsed below vital daily support on Thursday. GBP/USD fell from a high of 1.2634 to a low of 1.2325 on a combination of stark warnings from the Bank of England, poor global economic data and the prospects of an aggressive Federal Reserve. The Bank of England hiked rates by 25bps, but ''shockingly, the BoE is now forecasting inflation at 10.25% YoY in Q4 this year, up from its earlier estimate of 5.75%, on utility costs,'' analysts at ANZ Bank explained. ''In a particularly pointed example of what is a common global theme, inflation is causing a “real income shock” – with average earnings growth not keeping pace with inflation, real personal consumption will inevitably slow sharply.'' ''In fact, the BoE forecast all components of domestic demand to decelerate throughout this year and into next.'' Against a backdrop of worsening PMIs out of China and Germany’s factory orders fell a colossal 4.7% in March vs. -1.1% expected, the US dollar thrived in anticipation of inflows to the US economy that has fared better by comparison to elsewhere. Eyes on NFP This leaves the Nonfarm Payrolls as a critical event. For instance, ANZ Bank explained, ''whilst the Fed is not currently considering a 75bps rate increase, that guidance is based on expectations that the trend increase in monthly Nonfarm payrolls will slow and core inflation is stabilising. But there are no guarantees at all that that will be the case. Demand for labour in the US remains very strong and core services inflation is rising steadily. The April Nonfarm payroll and employment reports tomorrow night, therefore, carry a lot of significance.''
Short
by DAY_PROFITS
1
GBP/USD:Losing 2% after BoE with next big stop as low as 1.2000 GBPUSD collapsed by 1.9% or more than 230 pips to 1.2380 from the start of the day on Thursday, with pressure intensifying after the Bank of England’s bank rate decision announcement. As analysts had expected, the Bank of England raised the rate by 25 points to 1.0%. Three of the nine monetary policy committee members called for a 50-point increase at once, and there were hints in the comments that a 50-point increase could be an option at subsequent meetings. At the same time, the Bank of England has worsened its economic outlook for 2023, expecting the economy to contract in response to tight financial conditions and the effects of high energy prices. The currency market sees the recession as a notable negative factor, putting pressure on medium and long-term interest rates. After consolidating over the last few days and attempting a rebound yesterday after the FOMC, GBPUSD has moved sharply back down and updated to lows from June 2020, a strong bearish signal. The pair runs the risk of slipping to 1.2000, an area proven to be the Pound’s last line of defence more than once in previous years, without much of a hurdle. The significant support of the previous six years and the 161.8% Fibonacci target from the last declining momentum since late April are concentrated here
Short
by FOREXN1
2
GOLD:RSI+STOCH DIVERGENCE | PRICE MAY FGROW AFTER FED'S RATE Gold Price Forecast: XAU/USD sees a reversal to near $1,860 amid anxiety over Fed’s rate hike Gold prices have displayed exhaustion in the downtrend as the RSI (14) showed a bullish divergence. The anxiety over the interest rate decision by the Fed has paused the Fx domain. The US labor market sees 400k additions in April. Gold Price (XAU/USD) is hovering around $1,865.00 and is likely to remain on tenterhooks as uncertainty over the announcement of the monetary policy by the Federal Reserve (Fed) has paused the whole Fx domain. The precious metal has displayed a subdued performance in the early Tokyo session and is likely to perform lackluster till the announcement of the interest rate decision. Gold prices are going to witness a lack of attention from investors for a prolonged period as the determination of the Fed to return to neutral rates will keep pushing itself to raise interest rates sooner rather than later. An interest rate hike by 50 basis points (bps) is on the cards but taking into consideration the multi-decade high inflation and consistency in full employment levels and wage-price hikes, one more jumbo rate hike by the Fed looks imminent. Meanwhile, the US dollar index (DXY) is attempting to overstep 103.50 in this session. Apart from the Fed’s policy, the DXY is also focusing on the release of the US Nonfarm Payrolls (NFP), which is due on Friday. The job additions by the US administration in April are expected to land at 400k against the prior print of 431k. Also, the Unemployment Rate looks to decline to 3.5% from the previous figure of 3.6%. Gold technical analysis The formation of bullish divergence on an hourly scale is signaling a reversal in the downtrend. The asset made a lower low while the momentum oscillator Relative Strength Index (RSI) (14) didn’t register a fresh low, which showed exhaustion in the downside momentum. The 50- and 200- Exponential Moving Averages (EMAs) at $1,871.63 and $1,890.96 respectively, still favor the downside. The RSI (14) is likely to find a cushion at around 40.00, which will result in a fresh bullish impulsive wave ahead.
OANDA:XAUUSDLong
by FOREXN1
AUD/CAD: REVERSAL PATTERN H&SHOULDERS | LONG VIEW ⚡️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/USD:PRICE READY TO GROW | 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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GBPUSD: gives it another go to the upside | LONG IDEA 🔔GBPUSD gives it another go to the upside and above it's 100 hour MA It is trying a break of the 100 hour MA again The GBP/USD reached the lowest level since July 2020 last week at 1.2410 and moved higher on Friday. That move took the price above its 100 hour moving average for the first time since April 22. However momentum could not be sustained,and yesterday saw the price action above and below the 100 hour moving average (blue line currently at 1.2525) as traders ponder the next move (it was a UK). The New York session saw a move lower with the price closing comfortably below the moving average level at 1.24904 on overall dollar buying (the US dollar was the strongest of the major currencies yesterday). In trading today, the pair based against a swing area between 1.24905 and 1.25022 before moving up over the last hour or two of trading to a new session high – and back above the 100 hour moving average. I know there been a number of failed breaks of that moving average over the last 3 , trading days but traders must still respected as a risk defining level. Stay above would be more bullish. Move below is more bearish. Like the EURUSD, there is more to prove from the buyers if they are to take more control from the sellers. Getting above the 1.2601 to 1.26145 swing area is a step number one. Step number two and step three involve getting above the 200 hour moving average at 1.2666 currently (green line in the chart above) , followed by the 38.2% retracement of the move down from the April 21 high at 1.26698. Those upside targets are the minimum to get to and through if the buyers are to take more control from the sellers. For now, respect the 100 hour moving average as risk once again, and hope for increased upside momentum off of that level.
Long
by FOREXN1
2
AUD/CHF:BEARISH SETUP | PRICE WILL DROP | 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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USD/CAD:TOP RESISTANCE | PRICE WILL DROP | 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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GOLD:PRICE IS FALLING | BEARISH CHANNEL | NEW LONG TRIGGERHello 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:XAUUSDShort
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EUR/USD:REVERSAL COMING | NEW LONG 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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