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ALNY, LTH & ZETA - The momentum may drive prices to new heights!Alnylam Pharmaceuticals The stock price has encountered several rejections around the 212 level, leading to subsequent corrections. After establishing a Double Bottom pattern, the price attempted to reverse the downward trend but was unable to do so, facing rejection at the 200 level. Consequently, the stock underwent another correction. Following this, the price entered a consolidation phase, forming a Box pattern for a while. In a surprising turn, the price gapped up significantly and broke through its former strong resistance area, remaining above it. Following a brief pullback, the price resumed its upward trajectory, supported by solid trading volume. Life Time Group Holdings Following a rejection around the 22.5 level in November 2021, the stock experienced a significant decline, dropping to just 8.75. Subsequently, the price began to rise again, eventually returning to its previous strong resistance level after a lengthy climb. However, it struggled to break through that barrier and faced another substantial drop. During this downturn, the stock hit a low around 11.3 and then navigated through numerous fluctuations, leading to the formation of a Symmetrical Triangle pattern on the chart. After successfully breaking out of this pattern to the upside, the price surged and managed to overcome the resistance level. If the stock can hold onto this level, we might see even more upward momentum in the days ahead. Zeta Global Holdings The stock price had been consolidating within a Box Pattern before breaking free. Since that breakout, the stock has experienced a steady uptrend, marked by higher highs and higher lows. Amid this upward movement, a Cup & Handle pattern formed, signaling that the trend is likely to persist. Following the breakout, the price is now climbing higher, supported by a significant increase in trading volume.
NASDAQ:ALNYLong
by NaranjCapital
GBP/USD:Anticipating a Bearish Scenario for the British PoundFollowing our successful forecast on the British Pound (link below), we are now poised to take advantage of another shorting opportunity as the price retests the previous supply area. This retest suggests a possible bearish scenario on the horizon. Our analysis is further supported by the latest Commitment of Traders (COT) report, which indicates a notable increase in retail long positions. This influx of long positions among retail traders often precedes a bearish reversal, providing additional validation for our anticipated market movement. As the British Pound retests the supply area, we foresee a potential new bearish impulse forming. This aligns with our strategic outlook, where we aim to capitalize on the expected downward momentum. The convergence of technical analysis and trader sentiment data strengthens our confidence in this bearish forecast. In summary, we are preparing for a bearish scenario for the British Pound, leveraging the retest of the supply area and the insights gained from the COT report. This approach ensures we remain well-positioned to take advantage of the expected market movements. Stay tuned for further updates and detailed analysis. Previous Forecast: ✅ Please share your thoughts about GBP in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
CME:6B1!Short
by FOREXN1
3
GOLD 4H CHART ROUTE MAP UPDATEHey Everyone, After completing the swing range activation from our 1H chart, please now also review our 4H chart idea. The 4H chart idea also had a swing range test and gave the swing, but off the back of a volatile candle and didn't allow for the cross and lock confirmation due to momentum. The swing gave the bounce and an extended push into 2416 Goldturn resistance, followed with the rejection into 2391. We are now looking for ema5 to lock below 2391 to open the full swing range. Failure to lock below this level will provide another bounce to retest the levels above. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2467 EMA5 CROSS AND LOCK ABOVE 2467 WILL OPEN THE FOLLOWING BULLISH TARGET 2491 POTENTIALLY 2510 BEARISH TARGETS 2438 - DONE EMA5 CROSS AND LOCK BELOW 2438 WILL OPEN THE FOLLOWING BEARISH TARGETS 2416 - DONE 2391 - DONE EMA5 CROSS AND LOCK BELOW 2391 WILL OPEN THE SWING RANGE SWING RANGE 2369 (DONE) - 2345 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
12
Fed will pick up the pace, but market pricing looks aggressive July's friendly jobs report led to market fears of a looming recession and the need for a strong Federal Reserve response. However, the latest ISM services report shows that the situation looks good with the economy growing The ISM Service Index shows no immediate inferred threat The ISM U.S. Manufacturing Products Index rose to 51.4 from 48.8, above the consensus of 51.0. New orders jumped to 52.4 from 47.3 while work returned to growth territory at 51.1 from 46.1. The Fed will cut interest rates faster but the current market price looks very positive We could see the Fed give in to some of the market demands and make at least one, maybe two 50 basis point moves
OANDA:XAUUSDShort
by FalCol_TradingMaster
GOLD ROUTE MAP UPDATEHey Everyone, Great start to the week with our 1h chart idea playing out, as analysed. Yesterday we stated that we have a candle body close above 2438 leaving a gap open to 2458 and ema5 lock will further confirm this. - This target was hit. No further cross and lock above 2458, which confirmed the rejection. We also stated that we have 2438 and 2423 as bearish support targets and will need a cross and lock below 2423 to open 2407 and 2394. A further ema5 lock below 2394 will open the swing range for the extended swing. - This also played out perfectly completing all the bearish targets and then followed with the swing range. The swing range did exactly what it says on the tin, by providing the perfect extended swing, inline with our plans to buy dips - BOOOOOOM!!!!! Price is back in the range and therefore all weighted levels are active again and can be tracked level to level using the chart ideas shared. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. EMA5 CROSS AND LOCK ABOVE 2438 WILL OPEN THE FOLLOWING BULLISH TARGET 2458 - DONE EMA5 CROSS AND LOCK ABOVE 2458 WILL OPEN THE FOLLOWING BULLISH TARGET 2475 POTENTIALLY 2491 BEARISH TARGETS 2438 - DONE 2423 - DONE EMA5 CROSS AND LOCK BELOW 2423 WILL OPEN THE FOLLOWING BEARISH TARGET 2407 - DONE 2394 - DONE EMA5 CROSS AND LOCK BELOW 2394 WILL OPEN THE SWING RANGE SWING RANGE 2369 - 2359 SWING ACTION NICELY COMPLETE!! As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
8
Market News Report - 04 August 2024USD/JPY continues its long-overdue downward spiral as it has done in the past week. Speaking of USD, the greenback suffered across the board (somewhat predicted in our last report) due to an unchanging interest rate and poor employment figures. Other notable gainers in the past week include the Swiss franc and euro. Let’s see how these and other markets may perform fundamentally and technically this week. Market Overview Below is a brief technical and fundamental analysis breakdown for all major currencies. US dollar (USD) Short-term outlook: bearish. The Fed's latest meeting (where they kept the interest rate unchanged) gave away a few dovish clues. Most notable is the potential for a rate cut next month, with STIR (short-term interest rate) markets predicting a 68% chance of this happening. A slight rise in the unemployment rate in the past week further adds to the bearish bias. The DXY chart aligns perfectly with the fundamentals, having just broken a recent key support. However, the break wasn’t strong enough, so 103.172 is still an area of interest for major support. Meanwhile, the key resistance is far away at 106.490 and will likely remain untouched for some time. Long-term outlook: bearish. Markets anticipate at least two rate cuts before the year ends. The latest Consumer Price Index (CPI) and jobs data indicate a cooling of the US economy, another bearish sign. Only geopolitical risks and bond market selling can affect this overall sentiment. So, we cannot rule out a bullish fight for the dollar, but it is unlikely to happen, at least quickly. Euro (EUR) Short-term outlook: weak bearish. The European Central Bank (ECB) has recently kept its interest rate unchanged. Christine Lagarde, the ECB President, also suggested slow economic growth in the Eurozone, with inflation expected to fluctuate around current levels. Furthermore, the President stated that September's interest rate meeting is 'wide open.' However, thanks to the ECB's overall dovish tone, markets see a 78% chance (up from 63% last week) of a cut. After falling slightly, the euro is looking to test the new major resistance, now at 1.09813 (not far from the former mark). Meanwhile, the key support area lies far below at 1.06494. Long-term outlook: weak bearish. The recent unchanged interest rate is the primary bearish driver. However, the ECB hasn't committed to a specific future path in this regard. Still, the central bank is data-dependent, and any improvement in inflation, growth, and wages can lift the euro. British pound (GBP) Short-term outlook: bearish. The folks at the Bank of England (BoE) cut the interest rate by 25 basis points at the 01 August 2024 meeting. However, they remain data-dependent and have no set future path. Still, STIR markets are currently pricing an additional two cuts for the remainder of 2024. Meanwhile, the pound is down on the charts, which shouldn’t be surprising given the fundamentals. The key support, at 1.26156, is not too distant. On the other hand, the key resistance is so far away (at 1.31424) that you have to zoom out your charts. In simple terms, we are bearish here. Long-term outlook: weak bearish. The interest rate is the chief bearish driver for the pound. However, STIR markets predict a rate hold next month. Furthermore, two-way risks remain based on upcoming economic data (e.g., inflation, labour, economic growth). Japanese yen (JPY) Short-term outlook: weak bullish. The Bank of Japan’s (BoJ) recent decision to hike the interest rate is bullish for the yen. However, STIR markets STIR markets expect a hold (95% probability) at the next meeting (but one hike before the year ends). Declining US Treasury yields and the heightened political tension in the Middle East have accelerated the recent huge down move in USD/JPY. Unsurprisingly, USD/JPY has confidently broken another major support. Interestingly, the new marker is now 146.482, a level which has been reached. However, this week should determine if the market stalls around this area or breaks it. Meanwhile, the major resistance (at 161.950) is too far for traders to worry about. Long-term outlook: weak bullish In addition to the recent rate hike, other bullish catalysts for the yen include lower US Treasury yields. The Bank of Japan is actively intervening in the forex markets, contributing to the JPY's upside. However, having moved quite a distance, a retracement is imminent. Australian dollar (AUD) Short-term outlook: weak bullish. Due to persisting inflation highlighted by the Reserve Bank of Australia (RBA), the central bank has enough reasons to keep or hike the interest rate on Tuesday. On the flip side, markets suggest at least one rate cut in 2024 (initially set for 2025). However, the recent rise in China's share prices, which correlates with the Aussie, has been positive for the currency. While trading mildly in the past week, the Aussie is nearly testing the major support at 0.64653. Meanwhile, the major resistance is far ahead at 0.67986. Long-term outlook: weak bullish. The hot CPI for Q1 and April has pressured the RBA to increase rates, which they recognised in their meeting last month. Also, the slightly higher unemployment rate from the past few weeks is another impetus. While STIR markets anticipate a 33% chance of a hike, this has been priced out. Also, keep in mind that the Australian dollar is exposed to slow economic growth in other countries because it is a pro-cyclical currency. New Zealand dollar (NZD) Short-term outlook: neutral. As predicted by STIR markets, the Reserve Bank of New Zealand (RBNZ) recently maintained the interest rate at 5.5%. In their latest meeting, “The Committee agreed that monetary policy will need to remain restrictive. The extent of this restraint will be tempered over time consistent with the expected decline in inflation pressures”. In simple terms, the central bank is winning against inflation and is, thus, unlikely to raise rates. NZD traders should diarise New Zealand's upcoming unemployment rate on Wednesday. Unlike its closest relative (AUD), the Kiwi has retraced upwards. However, it’s still within a largely bearish move. The primary support lies at 0.58524. Meanwhile, the major resistance is at 0.62220, an area which it’s unlikely to test soon. Long-term outlook: neutral. The central bank's recent dovish tilt amid improving inflation puts the Kiwi in a neutral bracket. Furthermore, STIR markets anticipate a 65% (up from 58%) chance of a rate cut next month. On the flip side, as a risk-sensitive currency like the Aussie, any growth data in China could trigger bullishness for NZD. Canadian dollar (CAD) Short-term outlook: bearish. Firstly, the Bank of Canada (BoC) cut rates from 4.75% to 4.50% not so long ago. The Governor of the Bank of Canada (BoC), Macklem, had already suggested this would happen if inflation became stickier. Realistically, the BoC will drop rates slowly now or aggressively later. It's also worth noting that the mortgage stress in Canada has forced the BoC to be dovish, another bearish catalyst. Watch for the new unemployment figure for CAD on Friday. After a long while in range mode, USD/CAD is inclined more bullishly. It only just broke the recent major resistance (at 1.38463). The next target, which is quite nearby, is at 1.38991. On the other hand, the key support lies far down at 1.35896. Long-term outlook: weak bearish. Expectations of a rate cut remain the focal point, with Macklem himself saying it's reasonable to expect more cuts in the future. Moreover, STIR markets see two rate cuts for the BoC this year. The mortgage stress remains a major factor in this interest rate policy, and the BoC will have to cut rates to alleviate it. However, encouraging oil prices may redeem the Canadian dollar as a risk-sensitive currency, along with improvements in jobs, inflation, and Gross Domestic Product. Swiss franc (CHF) Short-term outlook: bearish. STIR markets forecast a rate cut in September (a 92% chance) and December this year. Secondly, SNB expects a moderate improvement in inflation, GDP (Gross Domestic Product), and unemployment to rise slightly in the near term. However, the Swiss franc can strengthen during geopolitical tensions like the Middle East crisis. Watch for the new unemployment figure for CHF on Tuesday. USD/CHF was among the biggest losers (dropping 1.71%), confidently breaking the last major support. We mentioned the likelihood of this happening. The new key support area to consider is now 0.85510. Meanwhile, the major resistance level is far higher at 0.92244. Long-term outlook: weak bearish. The expected rate cut in the next SNB meetings for 2024 is the main bearish driver. However, the SNB's chairperson, Thomas Jordan, expressed that "appreciation of the Swiss Franc has an impact on monetary policy." This means that potential intervention by the central bank can go either way. Conclusion The most anticipated economic events this week include the unemployment for NZD, CAD, and CHF, along with the RBA's interest decision. Nonetheless, the fundamental outlooks for each major currency remain consistent from the previous week. However, see if these match the technical side and leave room for surprises.
TVC:DXY
by CityTradersImperium_CTI
USD/CHF: Looking For a Strategic Long PositionUSD/CHF is approaching a critical demand zone, which we have identified as an area of interest for initiating a long position. This potential setup aligns with the current condition of the DXY Index, which is in an oversold state, suggesting a likely upward correction. To capitalize on this opportunity, we are placing a buy limit order within this demand area. Our strategy is further bolstered by the latest Commitment of Traders (COT) report, which reveals a predominance of short positions among retail traders. This contrarian indicator supports our bullish outlook, as retail traders are often on the wrong side of the market. Our Supply and Demand approach has consistently provided us with reliable entry and exit points. In this case, the demand zone around the current price level presents a promising entry point for a long position. By combining this approach with the oversold condition of the DXY Index and the COT report's insights, we anticipate a favorable risk-reward scenario. Our analysis also considers seasonal trends and market sentiment. Historically, similar conditions have led to significant bullish movements in USD/CHF. We expect the price to find support in the demand zone and subsequently initiate a new bullish impulse. As we set our buy limit order, we are looking for confirmation through price action and market dynamics. If the price reacts positively within the demand zone, it will reinforce our decision to go long. We will continue to monitor the market closely, ready to adjust our strategy as new data and price movements unfold. ✅ Please share your thoughts about USDCHF in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
3
USD/JPY Reaches Key Demand Zone: Is a Bullish Reversal Imminent?The Japanese Yen (JPY) has extended its winning streak against the US Dollar (USD) for the fifth consecutive session on Monday. This consistent momentum is driven by increasing expectations that the Bank of Japan (BoJ) may further tighten its monetary policy. The BoJ's potential shift towards a more hawkish stance is attracting significant market attention, as investors anticipate changes that could impact the currency's value. Additionally, the unwinding of carry trades, where investors borrow in low-yielding currencies to invest in higher-yielding assets, is providing sustained support for the JPY. This unwinding trend suggests a repositioning of investments that favors the Yen, contributing to its recent strength. From a technical standpoint, the current price action has led the USD/JPY pair to a strong demand area, which aligns with multiple indicators pointing to a potential bullish reversal. Firstly, the pair has entered an oversold condition, suggesting that the selling pressure might be overextended and a corrective bounce could be on the horizon. Secondly, there is the potential start of bullish seasonality, a period during which historical data shows the JPY typically performs well. This seasonal trend could further bolster the case for a rebound. Our supply and demand strategy, which focuses on identifying key levels where price imbalances occur, indicates that the current demand zone is a critical area for a potential price reversal. This strategy has been effective in highlighting areas where buying interest may outweigh selling pressure, leading to upward price movements. Given the confluence of these technical factors, we are closely monitoring the price action for a long setup. We are particularly attentive to the behavior of the USD/JPY pair in this demand area. Should the price action confirm our expectations, we will look to enter a long position, anticipating a rebound. This approach aligns with our broader market analysis and strategic outlook, which aim to capitalize on identified opportunities supported by both technical indicators and market fundamentals. ✅ Please share your thoughts about USD/JPY in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
1
BTC will probably try to pick up liquidity from both sidesThe chart may be a bit unclear, but I will try to explain what it means: when we first determine the fibonacci after the impulse with $74k, we can see the support exactly at fibonacci 1.21. That gives us the right to look at this as an ABC correction. Below are the FVG of the bit zones : The monthly that has been tested several times plus the monthly candle did not close inside it which is very positive In the last correction towards 53k weekly fvg showed strong support Gap: Which is formed after this impulse shows that fibonacci 0.61 coincides together with that.. For now, everything is fine.. we are in the middle of the range, 60k and lower to watch for a potential long. Below 58k and the closing of larger time frames, the saint structure changes
Long
by learnfromfailure
Gold on the international market skyrocketedPreviously, the market reflected a 100% chance that the Fed would cut interest rates for the first time in September. Currently, this rate is still the same. What's important to watch for investment is the Fed's view on the pace of interest rate cuts for the rest of the year. The Fed will cut 1 or 2 times and how much each time will cut, 25 hundred points or 50 points. With worse economic signals, it is likely that the Fed will have to consider the option of accelerating the process of cutting interest rates. However, it is possible that after cutting interest rates in September, the Fed will wait to take a closer look at the health of the US economy. On that side, the world is also watching the race for the White House of the second presidential candidate. The election will take place in November. Recently, some forecasts said that regardless of which candidate, Mr. Donald Trump or Ms. Kamala Harris, becomes US president, the White House owner will also provide money to support the economy. Gold will benefit from this move. Some major banks in the world still maintain their forecast that gold prices will reach 2,500 USD/ounce this year.
OANDA:XAUUSDShort
by FalCol_TradingMaster
GOLD 1H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing price between two weighted levels. We have 2458 Goldturn resistance and 2423, as Goldturn support. We currently have a candle body close above 2438 leaving a gap open to 2458. However, ema5 above 2438 will further confirm this. We also have 2438 and 2423 as bearish support targets and will need a cross and lock below 2423 to open 2407 and 2394. A further ema5 lock below 2394 will open the swing range for the extended swing. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. EMA5 CROSS AND LOCK ABOVE 2438 WILL OPEN THE FOLLOWING BULLISH TARGET 2458 EMA5 CROSS AND LOCK ABOVE 2458 WILL OPEN THE FOLLOWING BULLISH TARGET 2475 POTENTIALLY 2491 BEARISH TARGETS 2438 2423 EMA5 CROSS AND LOCK BELOW 2423 WILL OPEN THE FOLLOWING BEARISH TARGET 2407 2394 EMA5 CROSS AND LOCK BELOW 2394 WILL OPEN THE SWING RANGE SWING RANGE 2369 - 2359 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
26
GOLD 4H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone, Please see our updated 4h chart levels and targets for the coming week. We are seeing price between two weighted levels. We have 2467 Goldturn resistance and 2438, as the Goldturn weighted support. We will see levels within this range tested side by side until one of the weighted levels break to confirm direction for the next range. We will need to see a test at 2467 and then ema5 to above 2467 to confirm the range above. We also have 2438, as the weighted support area and will need ema5 lock below this level to open 2416 and 2391 and a cross and lock below 2391 will open the swing range for the extended swing. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2467 EMA5 CROSS AND LOCK ABOVE 2467 WILL OPEN THE FOLLOWING BULLISH TARGET 2491 POTENTIALLY 2510 BEARISH TARGETS 2438 EMA5 CROSS AND LOCK BELOW 2438 WILL OPEN THE FOLLOWING BEARISH TARGETS 2416 2391 EMA5 CROSS AND LOCK BELOW 2391 WILL OPEN THE SWING RANGE SWING RANGE 2369 - 2345 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
4
GOLD DAILY CHART UPDATE Hey Everyone, Please see update on our daily chart structure that we have been tracking successfully for a while now.. Previously we had the cross and lock above 2355, leaving a gap open to 2405 and same with 2405 opening 2464, which were all completed and then followed with the rejection into the retracement range. We the had 2355 retracement range providing support and the re-actional bounce, as analysed and we stated that we will either look for a ema5 lock below this level to open the range below or a failure to lock below this level will follow with the upper range tests again. - This played out perfectly with no cross and lock below 2355 and therefore we got the perfect bounce re-testing all the targets above. We now have 2464 test again and will need ema5 cross and lock to open the gap above. However, being the daily chart, we sometimes do not get the time to enter for the gap like the smaller timeframes, as the move gets done before the gap opens. Therefore, we can use a candle body close above 2464, as an earlier confirmation for the gap. We have marked the charts with our unique weighted levels and will use them to track the movement up and down, confirmed with ema5 cross and lock confirmation. We will use our smaller timeframe analysis and trading plans to navigate the range in true level to level fashion. Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our levels and setups. Buying dips allows us to safely manage any swings rather then chasing the bull from the top. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
2
GOLD WEEKLY CHART MID/LONG TERM/RANGE ROUTE MAP Hey Everyone, Please see update on our weekly chart idea. Previously we mentioned that although we have the final Axis target at 2505, we are expecting resistance and reaction here at 2434, at the channel top and will probably need a few attempts before cracking open the range above, which played out perfectly. We then stated that we would need to see a candle body close above 2434 in the coming weeks/months to confirm this gap or an ema5 cross and lock for a double confirmation. - We got the candle body close above 2434 now opening the 2505 gap and an ema5 cross will further confirm this. The levels within the channel will provide the bounces, inline with our plans to buy dips in true level to level fashion, using our smaller time-frames. Buying dips allows us to safely manage any swings, instead of chasing the bull from the top. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
4
ETH ForecastTrend Channels and Correction: There are two distinct descending trend channels visible on the chart. Currently, the price is near the lower boundary of these channels and might make an upward correction. This correction could aim towards the resistance levels marked above. Fibonacci Levels: The price appears to have touched the 1.618 Fibonacci extension at the 2,914.76 level. A reaction from this level is likely, and the price could move upwards to test the resistance levels. Support and Resistance Levels: Several important support and resistance levels are drawn on the chart: Resistance Levels: 3,125.86, 3,232.67, 3,306.00, 3,390.57, and 3,581.27. Support Level: 2,914.76. RSI (Relative Strength Index): The RSI indicator is close to the oversold region. This suggests that the price might soon experience an upward recovery. MACD (Moving Average Convergence Divergence): The MACD indicator might be signaling a potential upward reversal. Conclusion: The Ethereum price could potentially rebound from the lower boundary of the descending channel and initiate an upward movement. The first target for this upward movement could be the 3,125.86 resistance level. If it can break this level, it may test the 3,232.67 and 3,306.00 resistance levels subsequently. However, market conditions and the overall trend should be considered, and risk management is essential.
Long
by alemicihan
GOLD ROUTE MAP UPDATEHey Everyone, PIPTASTIC finish to the week with our analysis playing out to perfection!!!! EMA5 lock above 2400 opened 2423 and 2438, which was hit perfectly followed with ema5 lock above 2438 opening 2459 and 2475, which was also completed today to perfection and now followed with the perfect rejection!!! BULLISH TARGETS 2400 - DONE EMA5 CROSS AND LOCK ABOVE 2400 WILL OPEN THE FOLLOWING BULLISH TARGET 2423 - DONE 2438 - DONE EMA5 CROSS AND LOCK ABOVE 2438 WILL OPEN THE FOLLOWING BULLISH TARGET 2459 - DONE 2475 - DONE BEARISH TARGETS 2376 - DONE We will now come back Sunday with our Multi time-frame analysis, Gold route map and trading plans for the week ahead. Have a smashing weekend!! And once again, thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
10
Gold Price Explosion? Key Patterns Indicating Major Moves Ahead!Technical Breakdown of XAUUSD Overview The chart presents the price action of Gold Spot (XAUUSD). Key technical patterns and significant support/resistance levels are highlighted to provide insights into potential price movements. Key Patterns and Levels Descending Channel: The price previously moved within a descending channel, marked by lower highs (LH) and lower lows (LL), indicating a downtrend. The breakout from the descending channel suggests a potential shift in momentum from bearish to bullish. Support/Resistance Levels: HTF (Higher Time Frame) Support/Resistance: A crucial level providing a foundation for significant price movements, shown with blue lines. LTF (Lower Time Frame) Support/Resistance: A lower time frame level within the channel, highlighting short-term price actions. 1HR Double Top: A resistance level around 2458.3 where the price is currently facing a decision point. Bullish Patterns: 3 Touch Flag: A bullish flag pattern with three touches indicating potential continuation if the price breaks above the resistance. Daily Bull Flag: A larger time frame bull flag pattern suggests a bullish continuation if the price breaks above the upper boundary. Liquidity Zones: Weekly LQZ: A liquidity zone around 2484, which acts as a significant resistance level. Daily LQZ: A zone around 2348.8 providing a major support level. Current Market Conditions: The price is currently testing the 1HR double top resistance. A rejection at this level could indicate a potential short position, while a clear break above could confirm a long position. Trading Strategy: Wait for Confirmation: Traders should wait for a clear rejection or break above the 1HR double top to determine the direction of their positions. Monitor Key Levels: Keep an eye on the support/resistance levels and liquidity zones to gauge potential price movements and market sentiment. Conclusion: Gold is at a critical juncture with significant patterns indicating possible major moves ahead. Traders should closely monitor the 1HR double top and key support/resistance levels to make informed trading decisions.
OANDA:XAUUSD
by Adlercon333
GOLD ROUTE MAP UPDATEHey Everyone, PIPTASTIC day on the charts today with our targets getting smashed in style!!! We got the 2400 re-test after the bounce from 2376 support like we analysed. This followed with a ema5 cross and lock above 2400 opening 2423, which was hit perfectly and as stated before potentially 2438, currently left open. The potential targets are extended targets and ones that we don't chase unless from a dip. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2400 - DONE EMA5 CROSS AND LOCK ABOVE 2400 WILL OPEN THE FOLLOWING BULLISH TARGET 2423 - DONE POTENTIALLY 2438 EMA5 CROSS AND LOCK ABOVE 2438 WILL OPEN THE FOLLOWING BULLISH TARGET 2459 POTEITNALLY 2475 BEARISH TARGETS 2376 - DONE EMA5 CROSS AND LOCK BELOW 2376 WILL OPEN THE FOLLOWING BEARISH TARGET 2360 2344 EMA5 CROSS AND LOCK BELOW 2344 WILL OPEN THE SWING RANGE SWING RANGE 2313- 2298 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
4
The Fed will reveal the possibility of cutting interest ratesWorld gold fees grew to become down with spot gold fees down 5.6 USD to 2,384.7 USD/ounce. Gold futures ultimate traded at $2,427.60 an ounce, down $1.70 from the brilliant spot. The dollar`s recuperation has positioned stress at the yellow metal. Accordingly, the United States Dollar Index rose best approximately 0.3% to its maximum stage in extra than 2 weeks, making gold extra bearish for holders of different currencies. Marex analyst Edward Meir, at the verge of recuperation for the greenback, records from China indicates that a lower in gold spending withinside the world's biggest gold customer additionally impacts the route of gold. The state-of-the-art document indicates that gold intake in China reduced through 5.6% withinside the first 1/2 of of 2024 as call for for gold earrings reduced through 26.7% amid excessive fees. However, call for for Lis gold and cash skyrocketed. Although gold is beneathneath stress from the greenback, specialists say that the treasured metal's decline has been "braked" way to issues approximately extended geopolitical tensions withinside the Middle East after the missile assault in Golan Heights.
OANDA:XAUUSDShort
by MrTrongVo
Gold technical analysis : 31/7/2024Price movement on gold`s each day chart has remained inside a uneven variety among 2350 - 2500 because April. As mentioned in preceding analysis, it is able to retrace decrease earlier than it breaks to new highs. But momentum is pointing better in anticipation of a dovish Fed assembly, and in the event that they supply I suspect gold can be headed for $2500. I doubt it's going to truly destroy to new highs thinking of how charges struggled above $2500 in April, May and July. But we will re-examine charges in the event that they get to or beyond $2500. The 1-hour chart suggests charges appearance eager to increase their profits in advance of the FOMC assembly in a capacity `purchase the rumour, promote the fact` move. Bulls may want to are seeking dips at the 1-hour time frame at the same time as charges preserve above 2420 with 2480 creating a capacity upside goal over the close to term. A dovish Fed brings $2500 into focus.
OANDA:XAUUSDShort
by FalCol_TradingMaster
GOLD ROUTE MAP UPDATEHey Everyone, Another great day on the charts today with our chart idea playing out inline with our plans to buy dips. After hitting our 2400 target yesterday with no cross and lock; we got the rejection into 2376 weighted support. We then stated that we needed to see ema5 cross and lock below 2376 to open the range below or a rejection here will follow with a retest back upto 2400. - This is playing out perfectly, as we got the test and rejection on 2376. This gave us the perfect bounce of over 200 pips and still heading towards 2400, which just fell short. We will continue to see play between both these two weighted levels and will look for ema5 to cross and lock either level to confirm the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2400 - DONE EMA5 CROSS AND LOCK ABOVE 2400 WILL OPEN THE FOLLOWING BULLISH TARGET 2423 POTENTIALLY 2438 EMA5 CROSS AND LOCK ABOVE 2438 WILL OPEN THE FOLLOWING BULLISH TARGET 2459 POTEITNALLY 2475 BEARISH TARGETS 2376 - DONE EMA5 CROSS AND LOCK BELOW 2376 WILL OPEN THE FOLLOWING BEARISH TARGET 2360 2344 EMA5 CROSS AND LOCK BELOW 2344 WILL OPEN THE SWING RANGE SWING RANGE 2313- 2298 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
9
Market News Report - 28 July 2024It has been quite a massive turnaround for the yen recently, being the most bullish currency with +2% boosts across each of its major counterparts. The Swiss franc also had a good run, with milder gains for the euro and British pound this past week. Let's dive deeper into each major market and how they look fundamentally and technically. Market Overview Below is a brief technical and fundamental analysis breakdown for all major currencies. US dollar (USD) Short-term outlook: bearish. While the Fed is slowly winning the fight against inflation, it has suggested at least one rate cut this year. This may happen at the latest meeting on Wednesday. Still, STIR (short-term interest rate) markets have priced in a 91% chance of a hold. Short-term interest rate (STIR) markets predict an 8% chance of this happening at the end of this month. As with the start of any month, traders should also keep an eye on the latest unemployment rate and Non-Farm Payrolls on Friday. The Dixie was pretty mild this past week, trading in a small range. Yet, the chart is still bearish, with the key support at 103.172 and key resistance at 106.490. Long-term outlook: bearish. With markets anticipating at least two rate cuts by the Fed for the remainder of the year, the bearish bias is justified. The latest CPI and NFP data also indicate a cooling of the US economy. Only geopolitical risks and bond market selling can affect this overall sentiment. Euro (EUR) Short-term outlook: bearish. The European Central Bank (ECB) has recently kept its interest rate unchanged. Christine Lagarde, the ECB President, also suggested slow economic growth in the Eurozone, with inflation expected to fluctuate around current levels. Furthermore, the President stated that September's interest rate meeting is 'wide open.' However, markets see a 63% chance of a cut thanks to the ECB's overall dovish tone. While surpassing major resistance, the break could have been more convincing. However, this market is still bullish. So, we should expect a retest at the recent level, with the new major resistance now at 1.09813 (not far from the former mark). Meanwhile, the key support area lies far below at 1.06494. Long-term outlook: weak bearish. The recent unchanged interest rate is the primary bearish driver. However, the ECB hasn't committed to a specific future path in this regard despite short-term interest rate (STIR) markets indicating a 63% chance of a rate cut in September. Still, the central bank is data-dependent, where any inflation, growth, and wage improvements can lift the euro. British pound (GBP) Short-term outlook: bearish. The Bank of England (BoE) continues to show dovish tendencies. STIR markets now predict a 51% chance of a BoE rate cut next month. While the British pound had firmer economic data in recent weeks (e.g., stronger Gross Domestic Product), it failed to rally higher. This is another solid bearish indication. The pound has retraced quite a bit after exceeding the recent resistance. Is it slowly aligning with the fundamentals? Let's see. The major support level is at 1.26156, while the major resistance level remains far ahead at 1.31424. Long-term outlook: weak bearish. The interest rate is the chief bearish driver for the pound. So, the British pound is likely to find sellers as expectations for the potential rate cut in August grow. However, two-way risks remain based on upcoming economic data. Japanese yen (JPY) Short-term outlook: weak bullish. The Bank of Japan's (BoJ) recent decision to keep the interest rate unchanged is mildly bullish for the yen. Governor Ueda also stated, "depending on economic, price, and financial data and information available at the time, there is a chance we could raise interest rates at the July meeting." Moreover, STIR markets see a 69% chance (up from 53%) of a rate hike in the meeting on Wednesday. Unfortunately, JPY bulls should know that the BoJ does things rather slowly. USD/JPY has been suddenly and surprisingly bearish in the past few weeks, breaking the major support mentioned in our last report. The new support marker is now 151.858. Conversely, the key resistance (the yen's all-time high) is at 161.950, which is too rare for the price to test anytime soon. Long-term outlook: weak bullish In addition to the expected rate hike, other bullish catalysts for the yen include more lowering in US Treasury yields (one reason for the recent stronger JPY). Australian dollar (AUD) Short-term outlook: weak bullish. Due to persisting inflation highlighted by the Reserve Bank of Australia (RBA), the central bank has enough reasons to keep or hike the interest rate next month. The CPI print this coming Tuesday is another consideration, with expectations of a positive outcome. Finally, the Australian dollar shares an interesting correlation with China. Data indicating growth in this region (e.g., stimulus, new infrastructure projects, solid economic data) should lift the Aussie. The Aussie has finally broken the major support mentioned in our previous report. This culminates in a dramatic u-turn and aligns with the currency's mild bullishness fundamentally. The next area of interest for support is 0.64653. Meanwhile, the major resistance is far ahead at 0.67986. Long-term outlook: weak bullish. The hot CPI for Q1 and April has pressured the RBA to increase rates, which they recognised in their meeting last month. Also, the slightly higher unemployment rate result in the past week is another impetus. Furthermore, STIR markets anticipate a 33% chance of a hike. Conversely, the Australian dollar is exposed to slow economic growth in other countries because it is a pro-cyclical currency. New Zealand dollar (NZD) Short-term outlook: neutral. As predicted by STIR markets, the Reserve Bank of New Zealand (RBNZ) recently maintained the interest rate at 5.5%. In their latest meeting, "The Committee agreed that monetary policy will need to remain restrictive. The extent of this restraint will be tempered over time consistent with the expected decline in inflation pressures". In simple terms, the central bank is winning against inflation and is, thus, unlikely to raise rates. Like its closest relative (AUD), the Kiwi has trended down heavily of late. It's now close to the major support at 0.58746. Meanwhile, the major resistance is at 0.62220, an area which it's unlikely to test soon. Long-term outlook: neutral. The central bank's recent dovish tilt amid improving inflation puts the Kiwi in a neutral bracket. Furthermore, STIR markets anticipate a 58% (up from 50%) chance of a rate cut next month. On the flip side, as a risk-sensitive currency like the Aussie, any growth data in China could trigger bullishness for NZD. Canadian dollar (CAD) Short-term outlook: bearish. Firstly, the Bank of Canada cut rates from 4.75% to 4.50% this past week. The Governor of the Bank of Canada (BoC), Macklem, had already suggested this would happen if inflation became stickier. Realistically, the BoC will drop rates slowly now or aggressively later. It's also worth noting that The mortgage stress in Canada has forced the BoC to be dovish, which is another bearish catalyst. While breaking two key resistance levels (the most recent being 1.37919), USD/CAD remains in a range mode. The latest resistance at 1.38462 is still an area to watch. On the other hand, the key support is at 1.35896. Long-term outlook: weak bearish. Expectations of a rate cut remain the focal point, with Macklem himself saying it's reasonable to expect more cuts in the future. The mortgage stress remains a major factor in this interest rate policy, and the BoC will have to cut rates to alleviate it. However, encouraging oil prices may redeem the Canadian dollar as a risk-sensitive currency, along with improvements in jobs, inflation, and Gross Domestic Product. Swiss franc (CHF) Short-term outlook: weak bearish. With a 76% chance of the Swiss National Bank (SNB) cutting the interest rate recently, STIR markets were accurate. They also forecast a cut in September and December this year. Secondly, SNB expects a moderate improvement in inflation, GDP (Gross Domestic Product), and unemployment to rise slightly in the near term. However, the Swiss franc can strengthen during geopolitical tensions like the Middle East crisis. USD/CHF tested the major support area at 0.87296 but didn't have enough to break it confidently. So, there is a chance the market will be near this pathway soon. Meanwhile, the major resistance level is at 0.91582. Long-term outlook: weak bearish. The expected rate cut in the next SNB meetings for 2024 is the main bearish driver. However, the SNB's chairperson, Thomas Jordan, expressed that "appreciation of the Swiss Franc has an impact on monetary policy." This means that potential intervention by the central bank can go either way. Conclusion This week, the new interest rate decisions for the yen and US dollar are among the most anticipated economic events. It will be interesting to see whether the former (given the upcoming new rate) can continue to crush other markets. Nonetheless, the outlooks for each major currency remain consistent from the previous week. So, keep these in mind, but be prepared for surprises as always. As always, be prepared for anything as a trader technically and fundamentally.
TVC:DXY
by CityTradersImperium_CTI