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Will gold continue to rise? Gold skyrocketed to around 1870 after the release of the non-farm payrolls report, and this is the question that most investors are concerned about: will it continue to rise? I believe it will, and it may even reach around 1890-1900. Why do I say this? Let's analyze it from the fundamental and technical perspectives. As we have discussed in previous articles, the non-farm payrolls report is likely to be bullish for gold and drive up the price, and this judgment has now been confirmed, so the fundamentals are in line with expectations. From a technical perspective: Gold experienced a V-shaped reversal this week after hitting a low, with the weekly chart closing out and the price now turning from weak to strong. The daily chart shows a continuous increase in positive days, with increasing trading volume and the price forming a bullish trend. The 4-hour chart has formed a double-bottom support rebound, and the price continues to rise with a positive momentum. The Bollinger Bands are opening upwards, the MACD is showing a bullish crossover, and the red momentum bars are continuously rising, indicating that the current price is in a strong bullish trend. Therefore, the focus should continue to be on long positions. However, the current decline of the US dollar is about to form a triple bottom support, and gold may experience a correction. This is not bad news, because the recent rebound of gold has been too fast. If it can adjust and then gather momentum for an upward surge, it would be a healthier and more optimistic trend. The overall upward trend remains unchanged, and I believe that breaking through 1900 is not far off. Therefore, try to buy on dips. Specific trading space charts have already been drawn, and attention should be paid to support near 1845-1855 in the short term. The first resistance above is around 1880-1890. More detailed strategies will be provided according to market fluctuations. Follow the homepage ↓ to get real-time information. OANDA:XAUUSD TVC:GOLD COMEX:GC1! FXOPEN:XAUUSD
FXOPEN:XAUUSDLong
by Ice_and_Fire1
AUDCHF | THIS COULD BE A GREAT SELLHey everyone due to FOMC later today markets are not moving as much as not giving a clear indication of direction, this is usually due to news anticipation and everyone wants to see a clear trend before they react, so AUDCHF was pretty much the only choice on the table, it broke the neckline of a head and shoulders pattern, broke the previous support and now should be going down to re-test previous bottom level, if broken then we will see this trade further dropping down, ma's also cover stop loss so should be able to ride any of the volatility on this pair.
Short
by FX-TradingLions
Cable at a Crossroads: A Bearish Case for Selling GBP/USDHello Traders! 👨‍💻 Technical: Similar scenario to EURUSD we had a nice shooting star close on the 4h and a nice push exhaustion cycle near the moving averages, but is that enough? well we still have not broken the 1h MA's which would make this trade from good to great, so we need to be careful about that. We also have a strong area of support market with a red line. 🎯 For an ideal entry: Same as eurusd, you either enter now and risk the 1h moving averages will be broken, or wait until they do break, have a push exhaustion and enter short.
Short
by FX-TradingLions
1
Bearish Signals: EUR/USD Sell Opportunities Ahead?Hey Traders! 🔻Potential SELL setup for: EURUSD 👨‍💻Technical: Candlesticks are near moving averages, should be a good turning point for the trade, however the 1h has not yet crossed them, so you might want to wait for that to happen before you enter, we also broken daily trendline with a push exhaustion cycle finally complete, recent shooting star on the 4h does give more bearish bias. 🎯 For an ideal entry: You either enter now and risk the 1h moving averages will be broken, or wait until they do break, have a push exhaustion and enter short.
Short
by FX-TradingLions
1
Swiss Franc Strength Sparks EUR/CHF Selling OpportunitiesHey Traders! A nice push towards the downside broke past the moving averages and came back in, but typically this only means a push exhaustion scenario and a continuation push towards the downside, we already had a break off 200 ma on the 12hourly so likely the daily will follow, I believe this trade currently has around 30 pips profit gain, but once broken the major support level this trade can go much lower. Presidential Day for US & CAD - for fundamentals.
Short
by FX-TradingLions
1
GBP/JPY Short Opportunity: Capitalizing on Channel Structure andI have created this GBP/JPY short market idea due to the favorable technical setup observed in the chart. The currency pair has been trading within a downward channel and the previous high presents an ideal point of entry for a short position. The liquidity at the previous high, indicated by the volume profile, adds to the confluence of factors supporting this trade idea. The downward channel structure combined with the high liquidity at the previous high provides a strong basis for my decision to initiate a short position in the GBP/JPY market. Please note that this is not investment advice and past performance is not a guarantee of future results. Trading always carries risk and it's important to conduct thorough research and analysis before making any trading decisions. Thank you for your attention.
Short
by RobespierreDBeUnlimited
1