Despite the barrier of USD price increase, GOLD still increasesThe latest US weekly macroeconomic data showed 213,000 new unemployment claims, down sharply from the previous week. This further increases the market's expectation that the US Federal Reserve (FED) will further lower interest rates in December.
In response to this information, the USD–Index surpassed the 107 point mark, meaning the USD increased in price very strongly, which could have a negative impact on the gold market.
However, today's gold price continues to increase. The reason for the Russia-Ukraine military conflict is still tense. Investors look to gold for a safe haven for capital.
🔥 GOLD SELL 2698 - 2700🔥
💵 TP1: 2685
💵 TP2: 2675
💵 TP3: OPEN
🚫 SL: 2708
🔥 GOLD BUY 2673 - 2675🔥
💵 TP1: 2685
💵 TP2: 2695
💵 TP3: OPEN
🚫 SL: 2668
Trading-forex
GBP/AUD BEST PLACE TO BUY FROM|LONG
Hello, Friends!
GBP/AUD pair is trading in a local uptrend which know by looking at the previous 1W candle which is green. On the 2H timeframe the pair is going down. The pair is oversold because the price is close to the lower band of the BB indicator. So we are looking to buy the pair with the lower BB line acting as support. The next target is 1.957 area.
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USOIL Will Go Lower From Resistance! Short!
Please, check our technical outlook for USOIL.
Time Frame: 15m
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 66.952.
Taking into consideration the structure & trend analysis, I believe that the market will reach 66.542 level soon.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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EUR/USD LONG FROM SUPPORT
Hello, Friends!
Previous week’s red candle means that for us the EUR/USD pair is in the downtrend. And the current movement leg was also down but the support line will be hit soon and lower BB band proximity will signal an oversold condition so we will go for a counter-trend long trade with the target being at 1.078.
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Gold price is trending down ? Why ? World gold prices dropped to their lowest level in nearly 2 months due to pressure from the strong recovery of the USD. Recorded at 8:33 a.m. on November 13, the US Dollar Index measuring the fluctuation of the greenback with 6 major currencies was at 105,897 points (up 0.04%).
The inverse relationship between gold and the USD seems to have disappeared in recent times. However, since the US presidential election, this relationship has returned strongly.
The USD is expected to benefit from some of the policies of US President-elect Donald Trump, as they will likely cause US interest rates to remain relatively high for a longer period of time and that will be unfavorable environment for gold.
Next week's economic calendar is quite bleak, especially when compared to last week's boom. The main economic news events to watch will be the US core CPI on Wednesday. The US Federal Reserve (FED) is expected to closely monitor CPI for signs that consumer inflation is continuing on its path towards 2%.
Thursday's US PPI report, weekly jobless claims data and Friday morning's US retail sales release for October will also provide specific data on Americans' purchasing power in the current high-cost environment.
🔥 TVC:GOLD BUY 2590 - 2592🔥
💵 TP1: 2600
💵 TP2: 2610
💵 TP3: OPEN
🚫 SL: 2583
🔥 TVC:GOLD SELL 2628 - 2630🔥
💵 TP1: 2620
💵 TP2: 2610
💵 TP3: OPEN
🚫 SL: 2637
EURUSD Is Very Bearish! Sell!
Please, check our technical outlook for EURUSD.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 1.071.
Taking into consideration the structure & trend analysis, I believe that the market will reach 1.059 level soon.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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NZD/CHF Long, EUR/AUD Short and EUR/NZD ShortNZD/CHF Long
Minimum entry requirements:
• 1H impulse up above area of inflection.
• If tight 5 min continuation follows, reduced risk entry on the break of it.
• If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it.
EUR/AUD Short
Minimum entry requirements:
• 1H impulse down below area of interest.
• If tight 5 min continuation follows, reduced risk entry on the break of it.
• If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it.
EUR/NZD Short
Minimum entry requirements:
• Tap into area of value.
• 1H impulse down below area of interest.
• If tight 5 min continuation follows, reduced risk entry on the break of it.
• If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it.
EURUSD Will Go Down From Resistance! Short!
Take a look at our analysis for EURUSD.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 1.079.
The above observations make me that the market will inevitably achieve 1.068 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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EURCAD Will Go Down! Sell!
Here is our detailed technical review for EURCAD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 1.499.
Considering the today's price action, probabilities will be high to see a movement to 1.493.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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Usdjpy still seems upside but having zig zag moveHello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
Price actions still whips in a wedge, but general direction still up unless the structure fails. Let's watch this coming week for clearer picture!
Do check out my recorded video (in trading ideas) for the week to have more explanation in place.
Do Like and Boost if you have learnt something and enjoyed the content, thank you!
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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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Further downside seems possible for EurAudHello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
More downside might be coming on EA...bias will be to short.Unless it whips.
Do check out my recorded video (in trading ideas) for the week to have more explanation in place.
Do Like and Boost if you have learnt something and enjoyed the content, thank you!
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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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Usd potential turning downHello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
Watching for a potential toppish reversal on USD.But if it still holds and dont play out. next test level will be $104.
Do check out my recorded video (in trading ideas) for the week to have more explanation in place.
Do Like and Boost if you have learnt something and enjoyed the content, thank you!
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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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GBPUSD Daily Bias (18th Oct. 2024)It's been 3 consecutive weeks of the Cable printing bearish volumes and we anticipate the bears are not tired yet, at least not today.
Looking at the daily TF, we can see the bears just broke out of last week's consolidation on Wednesday and seem to be doing a pullback to clear internal liquidity from the new range it created following the breakout PA.
We've identified Wednesday's high as possible IRL (internal range liquidity) that can sponsor a further move to the downside.
We'll keep our arms folded as we await today's delivery.
GLGT!!!
LloydFx,
Trade Monastery.
AUD/USD LONG FROM SUPPORT
Hello, Friends!
We are now examining the AUD/USD pair and we can see that the pair is going down locally while also being in a downtrend on the 1W TF. But there is also a powerful signal from the BB lower band being nearby indicating that the pair is oversold so we can go long from the support line below and a target at 0.689 level.
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Gold prices are testing resistance levels.Ames Stanley - senior marketplace strategist at the Forex market stated that traders took income after US financial reviews together with CPI and USD elevated sharply. The promoting circulate of traders won't be over yet. Gold costs are trying out resistance levels.
Economic occasions this week that effect gold costs encompass US retail income statistics and the European Central Bank`s economic coverage choice on Thursday.
The marketplace is likewise inquisitive about the Empire State production survey, weekly unemployment claims, housing begins offevolved and US constructing permits.
Besides, buyers and traders are listening to the Chinese marketplace. The u . s . a . plans to announce an financial stimulus package deal from authorities bonds, really well worth 283 billion USD.
🔥 XAUUSD buy 2632 - 2630 🔥
✔️TP1: 2642
✔️TP2: 2655
✔️TP3: OPEN
🚫SL: 2622
🔥 XAUUSD sel 2652 - 2654 🔥
✔️TP1: 2642
✔️TP2: 2632
✔️TP3: OPEN
🚫SL: 2662
Euraud likely can see more downsideHello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
Overall a bearish chart on the daily, now with the rejection as last R zone on daily, likely to see more downside on EA.
Do check out my recorded video (in trading ideas) for the week to have more explanation in place.
Do Like and Boost if you have learnt something and enjoyed the content, thank you!
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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.
*********************************************************************
USD moved up with upside bias last week,but not a lot..what now?Hello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
Last week, we mentioned that likely USD has more upside. It did climb higher and i did have some longs on Usdjpy and it was decent.
Current level put USD at last daily chart consolidation area,which also happen to be flip zone in the past (refer to chart).
Breaking up is still possible but looking at the almost 3% push up the last 2 weeks, there could be chance that usd correct too. This can be seen on Eurusd,gbpusd and its majors too. Let's watch and act accordingly.
Do check out my recorded video (in trading ideas) for the week to have more explanation in place.
Do Like and Boost if you have learnt something and enjoyed the content, thank you!
-- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! --
*********************************************************************
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.
*********************************************************************
EURUSD Daily previewFX:EURUSD
Here are the key levels from the perspective of the daily chart for the next week on EURUSD, which are important for me to trade, and at these levels I monitor Price Action and orderflow to confirm a market turn at the indicated SR levels or a breakout and continuation of the trend. If you want a more specific description or an explanation of my levels on the chart, please ask in the comments if you don't understand something and thanks for follow me :)
If you want more views on Forex, or other markets, or other time frames, please request it in the comments, until Sunday evening you will have my view of that market and its outlook for the next week here for free
Milan