Trading-forex
EURUSD A Fall Expected! SELL!
My dear friends,
Please, find my technical outlook for EURUSD below:
The price is coiling around a solid key level - 1.0932
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 1.0918
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
CADCHF The Target Is UP! BUY!
My dear subscribers,
My technical analysis for CADCHF is below:
The price is coiling around a solid key level - 0.6440
Bias - Bullish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear buy, giving a perfect indicators' convergence.
Goal - 0.6566
About Used Indicators:
By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses
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WISH YOU ALL LUCK
USDCAD Expected Growth! BUY!
My dear friends,
Please, find my technical outlook for USDCAD below:
The price is coiling around a solid key level - 1.3600
Bias - Bullish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear buy, giving a perfect indicators' convergence.
Goal - 1.3699
Safe Stop Loss - 1.3559
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
The possibility of AUDUSD will decreaseThe Aussie was idling at $0.6556 AUDUSD, having been mostly rangebound between $0.6540 to $0.6570 overnight. It is up 0.5% for the week, but it still faces resistance at the 200-day moving average of $0.6590.Australian bonds also struggled this week. Three-year government bond yields (AU3YT=RR) surged 13 bps to 4.212%, while 10-year yields
AU10Y rose 11 bps to 4.568%.
GBPUSD will decrease when it hits resistanceGBPUSD is a bit clearer as we can see a clear pattern of higher highs and higher lows this week. The question will be whether bulls have one more push to the upside and push Cable toward the 1.2600 handle.
If we do break below the 50-day MA we have support at the 1.2400 mark and lower at the 1.2360 mark. A selloff ahead of the weekend may also be on the cards as this would be down to profit taking as buyers who got in during the early part of the week may want to close out before the weekend. A lot will depend on the return of liquidity tomorrow and how much risk market participants are willing to take before the weekend.
EURUSD has an uptrendThe dollar index DXY, which measures the U.S. currency with six peers, eased 0.029% to 103.73, staying close to the two-and-a-half month low of 103.17 it touched earlier this week.
The index is down 2.8% for the month, on course for its weakest monthly performance in a year on rising expectations that the Federal Reserve is done raising interest rates and could start cutting rates next year.
Markets have dialled back expectations of Fed rate cuts in 2024, with futures now showing a 26% chance that the Fed cuts its target rate at the March 2024 policy meeting, according to CME Group's FedWatch tool. That compares with a 33% chance last week.
The euro stood at $1.0904, having risen 0.16% overnight after a series of preliminary surveys showed recession in Germany may be shallower than expected, which offset a downbeat reading of French business activity.
Gold trading ideas todayWorld gold spot price is around 1,991.9 USD/ounce, down 0.92 USD/ounce compared to overnight. Gold futures price for February 2024 on the Comex New York floor is at 2,013.3 USD/ounce.
However, experts commented that the decline in gold prices was stopped by expectations that the US Federal Reserve (Fed) had ended the cycle of raising interest rates. Lower interest rates typically boost gold prices because they reduce the opportunity cost of holding non-yielding assets. UBS analyst Giovanni Staunovo said that falling prices are a good buying opportunity because at some point the Fed will cut interest rates. This expert predicts that the gold price will increase to 2,150 USD/ounce by the end of 2024.
OANDA:XAUUSD BUY 1990 - 1988
TP1: 1995
TP2: 2000
SL : 1983
💡 GBPUSD: Target around 1.2580➡️ GBPUSD is on an upward trend, achieving higher highs in the previous session by surpassing the 1.2500 resistance level. This affirms the ongoing bullish momentum. The current scenario is promising, so stick to your buying strategy, with the target for positions remaining around 1.2580.
USDCAD: Important Key Levels to Watch 🇺🇸🇨🇦
Here is my latest structure analysis for USDCAD.
Vertical Structures
Vertical Support 1: Rising trend line
Vertical Support 2: Rising trend line
Horizontal Structures
Support 1: 1.3630 - 1.3655 area
Support 2: 1.3567 - 1.3610 area
Resistance 1: 1.3808 - 1.3854 area
Resistance 2: 1.3875 - 1.3900 area
Consider these structures for pullback/breakout trading.
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EURUSD's uptrend returnsThe EUR/USD currency pair remains steady around 1.0900 as markets anticipate the release of Eurozone Purchasing Managers' Index (PMI) figures, with investors looking for signs of economic recovery in area. Upcoming data, expected to show manufacturing PMI at 43.4, services PMI at 48.1 and composite PMI at 46.8, could provide insight into the economic health of the US. Eurozone amid challenging global conditions.
In recent statements, Bundesbank President Joachim Nagel indicated that interest rates in the Eurozone may be approaching a peak, suggesting a cautious approach to further increases. ECB Vice President Luis de Guindos reinforced this view by backing a data-driven approach and downplaying discussions of possible interest rate cuts in the near future.
Investors and analysts will be closely watching the PMI figures for signs of the Eurozone's economic trajectory, which could influence the European Central Bank's monetary policy decisions. Europe in the coming months. A better-than-expected PMI result could bolster confidence in the euro, while weaker figures could raise concerns about lingering economic headwinds in the region.
GBP/CHF LongGBP/CHF Long
• If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
Gold trend ideas of todayToday is Thanksgiving Day, so gold prices will not fluctuate significantly. According to technical analysis, the H4 stochastic is decreasing, the H1 stochastic has also entered the overbought zone, so today we will surf to make good profits.
TVC:GOLD SELL 1995-1997
TP1: 1990
TP2: 1987
SL : 2000
TVC:GOLD BUY 1985-1983
TP1: 1990
TP2: 1993
SL : 1978
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EUR/GBP ShortEUR/GBP Short
• If price pushes up above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
Gold prices change rapidly among investorsGold prices experienced a rally after the US dollar index weakened. Strengthening is still expected and a test of $2,000 will be expected soon. Translators who acquired this position when the browser tested support may maintain that position at this time. However, if the gold price does not create a higher swing point and falls to create a lower swing point, a downtrend will occur.
That's right, gold prices are looking for a cooling-off period as the advisor takes more importance on the Fed's decisions and waits for other information.
Previously, Gold changed its cycle of increasing and decreasing continuously because of the war and the Fed, leading to investors losing confidence in technical analysis.
THE KOG REPORTKOG REPORT:
In last weeks KOG Report we suggested that if price began with a decline and stayed above the 1920-23 price region, we felt an opportunity to long would be available, based on strong support. We gave the levels above as 1950-55 and above that 1965 and 1970 as the target levels to aim for and then added the daily bias levels. We gave the weekly bias level high at 1995 which was short by a few pips and managed to complete all the daily bias levels given to traders.
Well done to those who followed and managed to get something out of the markets, not only on Gold, but the numerous other pairs we trade and share.
So, what can we expect in the week ahead?
Again, this is going to be a difficult week for traders to navigate and stay ahead of, so please make sure you have a risk model in place as one big move in the opposite direction can really cause traders problems. We can see there being potential for higher pricing, but what we want to see again this week is how low to they attempt to take it while staying above the order region. We have the levels below as key support regions 1970-65 and below that 1950-55, which price needs to stay above in order to target and potentially break above the 2000 barrier.
So, for that reason, we will be looking for a similar scenario to last week. If we see price attempt the lower support regions 1970-65 and below that 1950-55, we feel an opportunity to long the market up into the 1995 and above that 2003 levels could be available to traders. It’s at these price points that we want to monitor price action and look for signs of a RIP. If we struggle around the 2006-10 region with extension into 2015-17, we will be looking to short the market back down with an open take profit.
On the flip, continuing upside from the get-go, we will be looking to trade level to level into the regions we’ve mentioned above, before then looking for the short trade back down initially into the 1965-70 region and then hopefully further down.
KOGs bias for the week:
Bullish above 1965 with targets above 1995 and above that 2003
Bearish on the break of 1965 with targets below 1955 and below that 1943
This gives us a potential range 1935-2010 for the week ahead.
Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated.
As always, trade safe.
KOG
GBP/CHF Long and EUR/GBP ShortGBP/CHF Long
• If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
EUR/GBP Short
• If price pushes up above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
Gchf could be looking at some more downside if...if the break of 1.10 is there for real, more downside will be coming in i believe.
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Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
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GBP/CHF Long and AUD/NZD ShortGBP/CHF Long
• If price impulses up, it does so in a convincing manner and a tight flag forms, then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
AUD/NZD Short
• If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.