EUR/USD Soars to 2024 Highs as Fed Rate Cut Speculation GrowsThe EUR/USD pair extended its rally for the fourth consecutive day, reaching new 2024 highs around 1.1170. This surge has been fueled by continued weakness in the US Dollar (USD), which has been under pressure as market sentiment shifts.
The US Dollar Index (DXY), a measure of the USD’s strength against a basket of major currencies, fell below the critical 101.00 level for the first time since December 2023. This decline was exacerbated by the release of the Federal Open Market Committee (FOMC) Minutes, which hinted at the possibility of an interest rate cut by the Federal Reserve (Fed) in September.
From a technical perspective, the EUR/USD pair bypassed its first supply area without a significant rebound and is now approaching the second supply zone, a key area where a potential sell reversal is being closely monitored. The latest Commitment of Traders (COT) report reveals an interesting divergence: retail traders remain bullish on the pair, while commercial traders and large funds appear to be positioning themselves for a move in the opposite direction.
The likelihood of a rate cut has been a focal point for traders. The CME Group’s FedWatch Tool currently shows nearly a 60% chance of a 25 basis point reduction at the Fed's September 18 meeting, a slight decrease from around 70% the previous day. Despite the FOMC Minutes supporting the possibility of lower rates as early as next month, Fed Governor Michelle Bowman urged caution, suggesting that rate reductions should be gradual if inflation aligns with the Fed’s 2% target. Her comments indicate a desire to avoid an overly restrictive monetary policy that could stifle economic growth.
Should the Fed opt for more substantial rate cuts, the policy gap between the Fed and the European Central Bank (ECB) could narrow in the medium to long term. This convergence may further support the EUR/USD pair, particularly as market participants expect the ECB to implement two additional rate cuts this year. Such a scenario could provide additional upward momentum for the EUR/USD, pushing it even higher in the coming months.
Tradingsignals
NAS100USD / BREAKOUT THE CHANNEL - 4H NAS100USD
Tendency , the price is under bullish pressure , until trading above turning level at 19,600 .
Turning Level: The price is currently trading above this level around 19,600 . As long as it remains stable and stays above this level, a rising toward the resistance level (1) is likely . However, if the price breaks under this level and a 4-hour candle closes below it, an downward move toward the support level (1) can be expected.
support Level (1) : around 19,188 , The price is currently above turning level . To reach this level, the price needs to break and close a four-hour candle below the turning level at 19,600 . If the price reaches 19,188 , and stabilizes below it, it will likely attempt to reach support level (2) .
support Level (2): When the price breaks through support Level (1) and closes a 4-hour candle below it, this suggests it could reach around 18,747 . To confirm an downward , the price needs to reach this level before moving on to support Level (3) at 18,337 .
Resistance Level (1): As long as the price remains above the turning level of 19,600 , it suggests a rising towards 20,234 . If the price reaches this level and stabilizing above it, it will likely attempt to reach resistance Level (2).
Resistance Level (2): When the price breaks through resistance level (1) and closes a 4-hour candle above it, this suggests it could reach around 20,553 . To confirm an uptrend , the price needs to reach this level before climb on to resistance Level (3) at 20,793 .
Channel Trend: breakout descending channel .
TARGET LEVEL :
RESISTANCE LEVEL : 20,234 , 20,553 , 20,793 .
SUPPORT LEVEL : 19,188,18,747 , 18,337 .
PEPEUSD / UNDER UPWARD PRESSURE - 4H PEPEUSD - 4H TIME FRAME
HELLO TRADER S
Tendency , prices is under upward pressure , until trading above turning level at 0.000007
Upward Condition : The price is currently showing bullish momentum. As long as it stays above the turning level of 0.000007 , it is likely to move upward toward the resistance levels at 0.000008 and then 0.000009 .
Downward Condition : To reach the 0.000006 support level (1) , the price needs to first break the turning level by closing a 4-hour candle below 0.000007 . If it stabilizes below support level (1) , a further decline toward the support level (2) at 0.000005 can be anticipated .
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 0.000008 .
RESISTANCE LEVEL (2) : 0.000009 .
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 0.000006 .
SUPPORT LEVEL (2) : 0.000005 .
TURNING LEVEL : 0.000007 .
BCHUSD / INSIDE ACCOMULATION ZONE - 4HBCHUSD - 4H TIME FRAME
HELLO TRADERS
Tendency , prices is under upward pressure , until trading above turning level at 322.79
Upward Condition : If the price remains stable at the turning level at 322.79 , it is expected to rise toward the resistance level of 355.50 . Should it hold above this level, a tend to further rise to reach resistance level at 400.97 .
Downward Condition : To reach the289.29 support level (1) , the price needs to first break the turning level by closing a 4-hour candle below 322.797 . If it stabilizes below support level (1) , a further decline toward the support level (2) at 264.16 can be anticipated .
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 355.50 .
RESISTANCE LEVEL (2) : 400.97 .
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 289.29 .
SUPPORT LEVEL (2) : 264.16 .
TURNING LEVEL : 322.79 .
Inverted Head and Shoulder Pattern breakout in DALBHART🔍 Technical Analysis on DALBHARAT (1-Hour Timeframe):
Pattern Formation:
An Inverted Head and Shoulders pattern has recently formed and broken out on the 1-hour chart of DALBHARAT. This bullish reversal pattern is often a strong indicator of a potential upward movement, particularly after the breakout from the neckline.
Breakout and Entry Point:
The breakout occurred as the price crossed above the neckline, which was near the 1795 level. This breakout is a key signal for a potential long entry. Traders can consider going long above 1795, anticipating further upward movement.
Projected Target:
Based on the head height of the pattern, the projected target for this breakout is around 1865+. This target is derived by measuring the distance from the head (the lowest point) to the neckline and adding it to the breakout point. The 1865 level serves as the potential upside target, representing the full price move expected from this pattern.
Stop Loss Consideration:
To manage risk, a small stop loss can be placed at 1751, which is safely below the neckline and the recent low, allowing some room for market fluctuations without prematurely exiting the trade.
Summary:
Entry: Above 1795
Target: 1865+
Stop Loss: 1751
This trade setup aligns with the technical structure of the inverted head and shoulders pattern, offering a favorable risk-to-reward ratio for those looking to capitalize on the potential bullish momentum in DALBHARAT.
USDJPY trading signalsUSD/JPY holds recovery from two-week lows of 144.95
USD/JPY is trading near 145.50 early Wednesday, sustaining the bounce from two-week lows of 144.95. The pair has recovered following a bigger-than-expected Japan's Merchandise Trade Deficit, which weighed on the Yen despite a risk-off mood. Fed Minutes eyed.
BUY USDJPY now zone 145.700-145.500
↠ Stoploss 145.200
→ Take Profit 1 146.100
→ Take Profit 2 147.000
AUDJPY: Pullback From Resistance 🇦🇺🇯🇵
AUDJPY may retrace from a key daily/intraday horizontal resistance.
As a confirmation, I spotted a double top pattern on an hourly time frame
with a confirmed breakout of its neckline.
We may see a retracement at least to 97.7 level.
❤️Please, support my work with like, thank you!❤️
Gold Price Analysis August 21☘️Fundamental Analysis
Gold prices extended their bullish consolidation above the psychological $2,500 level heading into the European session on Wednesday and remained within striking distance of the record high hit the previous day. Investors appeared to be betting that the Federal Reserve would begin its policy easing cycle and announce 25 basis points (bps) in September. This continued to weigh on US Treasury yields and became a key support for the non-yielding yellow metal. In addition, geopolitical risks, China’s economic woes and a slight decline in global risk sentiment served as a boost for the safe-haven commodity.
Investors also appeared reluctant and preferred to wait on the sidelines ahead of the release of the July FOMC meeting minutes. In addition, Fed Chairman Jerome Powell's speech at the Jackson Hole Symposium on Friday will be closely watched for clues on the US central bank's policy path.
☘️Technical Analysis
Gold is trading in a narrow range of 2500 and 2532. That is the wide range we can trade when gold breaks out of the sideways range in the Asian session around 2519-2510. Today's key support resistance zone around 2550 and 2476 to ensure that gold's price range does not increase or decrease too much. RSI corrected in the US session yesterday but is still at a relatively high level. If gold fails to close below 2500, it is very likely to create a new ATH in the following days.
Resistance: 2527 - 2531 - 2540 - 2552
Support: 2500 - 2495 - 2488 - 2475 - 2470
SELL scalp zone 2528 - 2530 stoploss 2533
SELL zone 2550 - 2552 stoploss 2556
BUY zone 2477 - 2375 stoploss 2471
XAGUSD / GENERALLY PRICES UNDER BULLISH PRESSURE - 4HXAGUSD
HELLO TRADERS
Tendency , the price is under bullish pressure , until trading above turning level at 28.58 .
Turning Level: The price is currently trading above this level around 28.58 . As long as it remains stable and stays above this level, a rising toward the resistance level (1) is likely . However, if the price breaks under this level and a 4-hour candle closes below it, an downward move toward the support level (1) can be expected.
support Level (1) : around 27.80 , The price is currently above turning level . To reach this level, the price needs to break and close a four-hour candle below the turning level at 28.58 . If the price reaches 27.80 , and stabilizes below it, it will likely attempt to reach support level (2) .
support Level (2): When the price breaks through support Level (1) and closes a 4-hour candle below it, this suggests it could reach around 27.08 . To confirm an downward , the price needs to reach this level before moving on to support Level (3) at 26.44 .
Resistance Level (1): As long as the price remains above the turning level of 28.58 , it suggests a rising towards 29.56 . If the price reaches this level and stabilizing above it, it will likely attempt to reach resistance Level (2).
Resistance Level (2): When the price breaks through resistance level (1) and closes a 4-hour candle above it, this suggests it could reach around 30.75 . To confirm an uptrend , the price needs to reach this level before climb on to resistance Level (3) at 31.64 .
Channel Trend: the prices trading rate within the descending channel .
TARGET LEVEL :
RESISTANCE LEVEL : 29.56 , 30.75 , 31.64 .
SUPPORT LEVEL : 27.80 , 27.08 , 26.44 .
BITCOIN / UNDER BULLISH PRESURE - 4HBITCOIN
HELLO TRADERS
Tendency , the price is under bullish pressure , until trading above turning level at 55,101 .
Turning Level: The price is currently trading above this level around 55,101 . As long as it remains stable and stays above this level, a rising toward the resistance level (1) is likely . However, if the price breaks under this level and a 4-hour candle closes below it, an downward move toward the support level (1) can be expected.
support Level (1) : around 51,322 , The price is currently above turning level . To reach this level, the price needs to break and close a four-hour candle below the turning level at 55,101 . If the price reaches 51,322 , and stabilizes below it, it will likely attempt to reach support level (2) .
support Level (2): When the price breaks through support Level (1) and closes a 4-hour candle below it, this suggests it could reach around 47,703 . To confirm an downward , the price needs to reach this level before moving on to support Level (3) at 44,845 .
Resistance Level (1): As long as the price remains above the turning level of 55,101 , it suggests a rising towards 61,267 . If the price reaches this level and stabilizing above it, it will likely attempt to reach resistance Level (2).
Resistance Level (2): When the price breaks through resistance level (1) and closes a 4-hour candle above it, this suggests it could reach around 65,742 . To confirm an uptrend , the price needs to reach this level before climb on to resistance Level (3) at 69,670 .
Channel Trend: the trading rate within the descending channel .
TARGET LEVEL :
RESISTANCE LEVEL : 61,267 , 65,742 , 69,670 .
SUPPORT LEVEL : 51,322 , 47,703, 44,845 .
Gold prices are standing still and waiting for results from FEDAfter completing the new history, gold easily becomes a time-limited investor. Not only that, gold prices at such a high level are difficult to attract new buyers to the market, also causing this commodity to decrease in price.
Sharing the same opinion, Anuj Gupta - Head of Commodities and Currency at HDFC Securities - determined that the upward trend in gold prices is still there and the direction of the precious metal will depend on the main direction of the US Federal Reserve. (Fed).
He believes that the speech of Fed Chairman Jerome Powell at the upcoming Jackson Hole congress will find a clearer picture of the monetary policy presentation of the Bank of America.
Accordingly, if Mr. Powell shows concern about the balance between economic growth and deflation, this will strengthen the possibility of cutting interest rates. Conversely, if he is optimistic and does not offer a commitment instrument, the school may have to adjust its current expectations.
Gold Price Analysis August 19Fundamental Analysis
Gold prices remained on the defensive in early European trading on Monday, although they held above $2,500 and remained within striking distance of their record highs. Growing expectations that the Federal Reserve (Fed) will begin lowering borrowing costs in September triggered a fresh decline in US Treasury yields. This, in turn, dragged the US Dollar (USD) to its lowest level since January and acted as a boost for the non-yielding yellow metal.
In addition, the risk of escalating geopolitical tensions in the Middle East and the protracted Russia-Ukraine war contributed to limiting the decline in the safe-haven commodity. However, traders appeared reluctant to place fresh bets on Gold prices, preferring to wait for further signals on the Fed’s rate cut path. Therefore, the focus remains on the release of the FOMC meeting minutes on Wednesday and Fed Chairman Jerome Powell’s speech at the Jackson Hole Symposium.
Technical Analysis
From a technical perspective, Friday’s breakout above the $2,470-2,472 horizontal barrier and subsequent strength above the previous all-time high is seen as a fresh impetus for bullish traders. Furthermore, the oscillators on the daily chart are holding in positive territory and are still far from overbought territory, suggesting that the path of least resistance for Gold prices is to the upside. That said, the failure to build momentum above the psychological $2,500 mark warrants some caution for the bulls. Therefore, it would be prudent to wait for some follow-through buying above Friday’s time-allowed top, around the $2,509-2,510 region, before positioning for any further gains.
On the other hand, the $2,472-2,470 resistance level currently seems to protect the immediate decline. Any further decline is likely to attract fresh buyers and remain limited in the $2,448-2,446 zone. The latter will act as a key pivot for short-term traders, a decisive break of which will open the way for deeper losses.
Resistance: 2509 - 2519 - 2533
Support: 2495 - 2488 - 2475 - 2470
SELL scalp price zone 2508 - 2510 stoploss 2514
SELL price zone 2532 - 2534 stoploss 2538
BUY price zone 2477 - 2375 stoploss 2471
GOLD 1H CHART ROUTE MAP UPDATEHey Everyone,
Great start to the week with our 1h chart idea playing out perfectly, as analysed.
We got the cross and lock below 2500 opening the retracement range, which was hit perfectly. This followed with the perfect bounce for a nice catch and now heading for 2509.
We currently have a gap above at 2509 and will need a cross and lock above this level to open the range above. Failure to test and break 2509 level will follow with a rejection for another retracement test to the full retracement.
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 for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2509
EMA5 CROSS AND LOCK ABOVE 2509 WILL OPEN THE FOLLOWING BULLISH TARGET
2519
2533
BEARISH TARGETS
2500 - DONE
EMA5 CROSS AND LOCK BELOW 2500 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2488 (DONE) - 2472
EMA5 CROSS AND LOCK BELOW 2472 WILL OPEN THE SWING RANGE
SWING RANGE
2458 - 2446
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
NAS100USD ( TRADING BELLOW TURNING LEVEL ) ( 4H )NAS100USD
Yesterday, we reached our target of +450 pips. The current price is trading below the turning level at 19,547. As long as it remains below this level, it’s likely to continue declining towards the first support level.
Tendency , the price is under bearish pressure , until trading below turning level at 19,547 .
Turning Level: The price is currently trading below this level around 19,547 . As long as it remains stable and stays below this level, a drop toward the support level is likely . However, if the price breaks above this level and a 4-hour candle closes above it, an upward move toward the resistance level can be expected.
Resistance Level (1): around 20,080 , The price is currently below turning level . To reach this level, the price needs to break and close a four-hour candle above the turning level at 19,547. If the price reaches 20,080 , and stabilizes above it, it will likely attempt to reach resistance level (2) .
Resistance Level (2): When the price breaks through Resistance Level (1) and closes a 4-hour candle above it, this suggests it could reach around 20,538 . To confirm an uptrend, the price needs to reach this level before moving on to Resistance Level (3) at 20,969 .
Support Level (1): As long as the price remains below the turning point of 19,547, it suggests a drop towards 19,115 . If the price reaches this level and stabilizing below it, it will likely attempt to reach Support Level (2).
Support Level (2): When the price breaks through support level(1)and closes a 4-hour candle below it, this suggests it could reach around 18,696 . To confirm a downtrend , the price needs to reach this level before decline on to support Level (3 )at 18,315 .
Channel Trend: the trading rate within the ascending channel.
TARGET LEVEL :
RESISTANCE LEVEL : 20,080 ,20,538 , 20,969 .
SUPPORT LEVEL : 19,547 , 18,696 , 18,315 .
Time Frame : 4H
Gold price remained steady at 2500Gold costs have surged beyond report highs as a aggregate of upbeat US monetary reports, expectancies of Fed hobby charge cuts and growing tensions withinside the Middle East boosted demand. secure haven assets. Fears that Iran should retaliate towards Israel for current conflicts have heightened geopolitical tensions, and not using a enormous development in ceasefire negotiations. This uncertainty keeps to underpin gold`s rally, making it a key attention for traders looking for shelter amid worldwide uncertainty.
Gold costs are buying and selling better whilst presently checking out resistance. MACD has illustrated growing bullish momentum. However, the RSI is at 68, suggesting the commodity should face a technical correction because the RSI enters oversold territory.
Resistance levels: 2500.00, 2535.00
Support levels: 2465.00, 2445.00
Gold may trade sideways at the end of the week☘️Fundamental Analysis
Gold prices are struggling to capitalize on the previous day's positive move and are hovering between modest gains heading into Friday's European session. Upbeat US macro data on Thursday eased fears of a sharp slowdown in the world's largest economy and boosted investor confidence, undermining demand for the safe-haven metal. However, rising geopolitical tensions in the Middle East, coupled with bets on the imminent start of the Federal Reserve's (Fed) policy easing cycle, supported XAU/USD.
In fact, the market has fully priced in a 25 basis point (bps) interest rate cut at the upcoming FOMC policy meeting in September. This prospect, in turn, triggered a fresh decline in US Treasury yields and attracted fresh sellers around the US Dollar (USD), which turned out to be another factor acting as a bullish driver for Gold
☘️Technical Analysis
From a technical perspective, the overnight failure near the $2,470 resistance level makes it prudent to wait for some follow-through buying before positioning for any further gains. With the daily chart oscillators holding in positive territory, Gold could then aim to break above the all-time highs, around the $2,483-$2,484 zone hit in July, and conquer the psychological $2,500 mark. A sustained strength above the latter would confirm a breakout above a month-old trading range and could be viewed as a fresh trigger for bullish traders, setting the stage for a further near-term upside move.
On the downside, the $2,447-2,445 horizontal zone now looks to protect the immediate downside ahead of the $2,430-2,429 zone and the weekly low, around $2,424. Some follow-through selling could leave Gold vulnerable to further weakness below $2,400.
Resistance: 2475 - 2488 - 2500 -2509
Support: 2438 - 2333 - 2426 - 2421
Price ranges to note:
SELL zone 2473 - 2475 stoploss 2479
SELL zone 2498 - 2500 stoploss 2504
BUY zone 2438 - 2436 stoploss 2432
BUY zone 2426 - 2324 stoploss 2420
SNOW Snowflake Options Ahead of EarningsIf you haven`t sold SNOW before the previous earnings:
Now analyzing the options chain and the chart patterns of SNOW Snowflake prior to the earnings report this week,
I would consider purchasing the 110usd strike price Puts with
an expiration date of 2024-9-20,
for a premium of approximately $2.70.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
SNXUSDT ( INSIDE ACCOMULATION ZONE ) ( 4H )SNXUSDT
HELLO TRADERS
Tendency , the price is under bearish pressure , until trading below turning level at 1.395 .
Turning Level: The price is currently trading below this level around 1.395 . As long as it remains stable and stays below this level, a drop toward the support level (1) is likely . However, if the price breaks above this level and a 4-hour candle closes above it, an upward move toward the resistance level (1) can be expected.
Resistance Level (1): around 1.530 , The price is currently below turning level . To reach this level, the price needs to break and close a four-hour candle above the turning level at 1.395. If the price reaches 1.530 , and stabilizes above it, it will likely attempt to reach resistance level (2) .
Resistance Level (2): When the price breaks through Resistance Level (1) and closes a 4-hour candle above it, this suggests it could reach around 1.658 . To confirm an uptrend, the price needs to reach this level before moving on to Resistance Level (3) at 1.829 .
Support Level (1): As long as the price remains below the turning level of 1.395, it suggests a drop towards 1.226 . If the price reaches this level and stabilizing below it, it will likely attempt to reach Support Level (2).
Support Level (2): When the price breaks through support level(1)and closes a 4-hour candle below it, this suggests it could reach around 1.115 . To confirm a downtrend , the price needs to reach this level before decline on to support Level (3 )at 1.005 .
Channel Trend: the trading rate within the descending channel .
TARGET LEVEL :
RESISTANCE LEVEL : 1.530 ,1.658 ,1.820 .
SUPPORT LEVEL : 1.226 , 1.115 , 1.005 .
DOTUSDT ( BREAKOUT CHANNEL ) (4H)DOTUSDT
HELLO TRADERS
Tendency , the price is under downward pressure , until trading below turning level at 4.949
TURNING LEVEL : the price of this level at 4.949 , so until the price trade below this level indicates likely to reach a support level (1) , but if the breaking by open 4h candle above this level reach a resistance level (1) .
RESISTANCE ZONE : this zone between 5.532 and 5.958 , in order to see this zone the price need breaking turning level at 4.949 , breaking this price indicates an increase and reaching the resistance level (1) at 5.532 , then stabilizing above resistance level (1) likely to reach of a resistance level (2) at 5.598 , after breaking this zone it will be attempt to reach resistance level (3) at 6.532 , selling have already increase in this zone .
SUPPORT ZONE : this zone between 4.012 & 3.595 , until the price trading below turning level or stabilizing below this level indicates to reach of a support level (1) at 4.012 , by open 4h or 1h candle below support level (1) , it indicates to reaching support level (2) around 3.595
CORRECTIVE : the price corrective at 4.949, before dropping .
TARGET LEVEL :
RESISTANCE LEVEL : 5.532 , 5.958 , 6.532 .
SUPPORT LEVEL : 4.012 , 3.595 .