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USOILSPOT Weekly Analysis: New Perspective and Follow-Up DetailsThe USOil rallied as much as 1.3% on Friday after the Fed’s favorite gauge for U.S. inflation came in beyond expectation for April, indicating that the central bank will raise interest rates again in June and July versus expectations for a pause. USOILSPOT Fundamental Factors: However, following the U.S. president's announcement via his Twitter handle on Saturday that the much-awaited deal to raise the U.S. debt ceiling has been reached, the potential of the currency and commodity markets to embark on a new wave of risk-taking - after weeks of fear about a government default on payments is now high. Now that the threat of a default is out of the way, assets, including commodities, could move higher when markets reopen on Tuesday after Memorial Day weekend. USOILSPOT Technical Analysis: In this video, we considered the USOILSPOT Support and Resistance Levels identified on the 4H timeframe as a yardstick to guide trading activities and the USOILSPOT Price Forecast ahead of the coming week. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FX:USOILSPOT
by darcsherry
XAUUSD | GOLDSPOT | New perspective | follow-up detailsLast week's U.S. data showed stronger-than-expected consumer spending in April. The increase in personal consumption expenditures (PCE) raised expectations that the Federal Reserve is likely going to hike interest rates again in June. The U.S. debt ceiling proceedings appear to be closing in on an agreement ahead of a June 1 deadline that would raise the government's $31.4 trillion debt ceiling for two years. Gold Price Forecast: All these economic developments appear to be taking a positive toll on the Greenback as gold was off 2% after another 2% loss the prior week and 0.25% the week before that. XAUUSD Bullish/Bearish Sentiment: However, from a technical standpoint, the appearance of buying pressure around the 1,940 zone is a concern for Gold sellers as this zone has the potential of becoming a platform for another wave of bullish momentum if not broken to the downside (XAUUSD Accumulation/Distribution Analysis). In the coming week ahead of the US economic features - ADP employment change, ISM manufacturing PMI, and Nonfarm payroll; we might likely see a choppy situation during the first half of the week before a major spike in price movement. In this video (XAUUSD Technical Analysis), we analyzed the current market structure from a technical standpoint by examining past price patterns and market behavior, recurring trends, support and resistance levels, and other crucial insights that can aid us in making a well-informed trading decision ahead of the new week. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
OANDA:XAUUSD
by darcsherry
📉🐻 Cracking the Code: EURUSD Bearish Setup 📉🐻Traders, get ready for an enticing opportunity as we unveil a compelling bearish setup on the EURUSD pair, observed on the 1-hour timeframe. It's time to crack the code and capitalize on a potential sell signal, driven by the breakdown of an asymmetrical triangle pattern. Our journey begins with the recognition of this pattern, characterized by lower highs and a relatively horizontal support line. The recent breakdown of this triangle pattern signals a shift in market dynamics, with the bears taking control. For optimal entry, we suggest waiting for a retest of the previous support level, now turning into resistance around the 1.07000 mark. This retest presents a favorable opportunity to join the downtrend at an optimal price level. To manage risk effectively, it is recommended to set a stop loss above 1.07100, safeguarding against unexpected market fluctuations. With risk under control, we can focus on our profit targets. The first target lies at the minor resistance level of 1.06545, providing an opportunity to secure gains along the way. The ultimate target is set at 1.06200, aligning with the bearish sentiment and offering further potential for profit realization. Trading with the trend can significantly enhance the probability of success, and in this case, the trend continuation pattern of the breakdown presents a high probability opportunity. Additionally, the bullish momentum observed in the dollar index further strengthens the case for a bearish bias on the EURUSD pair. Get ready to ride the momentum and embrace this bearish setup. Stay attuned to market developments and adapt your strategy accordingly as the trade progresses. Don't forget to press the like button if you think this insight was helpful !📉🐻💪
Short
by Thomas_Zito
1
USDJPY | Perspective for the new week | follow-up detailsThe USDJPY fell 0.54% to 137.955 on Friday after data showed that Japanese consumer inflation rose back to a 40-year peak in April, putting pressure on the Bank of Japan to adjust its ultra-loose monetary policy. However, news of constructive talks to end the current debt ceiling impasse in Washington raises optimism that a deal can be reached to avoid a damaging debt default. This video illustrates the technical side of the market, as we try to consider the fundamental factors that might affect buying or selling of this pair. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
by darcsherry
XAUUSD | New perspective | follow-up detailsAmidst the U.S. debt crisis saga market participants were reluctant to have open sell positions into the weekend, on the off chance that an agreement to raise the U.S. government’s debt ceiling is struck over the weekend hence the engulfing bullish candle observed on Friday. The reluctance of holding short positions resulted in the bullish green light to officially settle Friday’s session at 1,978.78 an ounce (just around the key level at the 1,980 zone), up by 1.1% on Friday. In this video, we dissected the current market structure for trading opportunities both the buyers and sellers have in this market ahead of the new week while taking into consideration the handful of economic features from the U.S. docket. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
OANDA:XAUUSD
by darcsherry
USOil | New perspective for the week | Follow-up detailOil prices reversed on Thursday and Friday to transition into a choppy situation to the disappointment of buyers as talks to raise the U.S. debt ceiling hit an impasse. Market participants were reluctant to have open buy positions into the weekend, on the off chance that an agreement to raise the U.S. government’s debt ceiling is struck over the weekend which could result in a huge gap at the beginning of the incoming week. In this video, we acknowledged the consolidation phase (between 70 and 74 zones) - a range that will be a determinant of price action in the coming week. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FX:USOILSPOT
by darcsherry
GBPUSD | Perspective for the new week | Follow-upFollowing a choppy previous week, the Pound Sterling appears to have found "support" along the 1.245000 benchmark and depending on how price action reacts to this level in the coming week will decide whether to buy or sell the Pound Sterling in the coming week(s). The GBPUSD rose 0.3% on Friday to 1.245, rebounding slightly after struggling in the face of overnight dollar strength, and with a handful of high-impact economic features from both economies involved in these pair, we have a week with voluminous trading activities. In this video, we looked at the charts from a technical standpoint for how to take advantage of any trading opportunities in the coming week. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
by darcsherry
It's Merely a RetracementIn a world where media and forums express bearish sentiments towards USDJPY, my unwavering bullish stance may have caught your attention. While others see a bearish retracement, I invite you to see the bigger picture. Take a glance at the weekly chart on the right, and you'll witness the bearish movement as nothing more than a mere retracement of the monumental US dollar skyrocketing trend I accurately predicted on 14th October 2021. It is this understanding that fuels my anticipation for an imminent buying opportunity. My attention is fixed on the 1-hourly chart on the left, where the market is poised to retest the crucial level of 137.46. This critical juncture presents the ideal scenario for a potential buying opportunity, perfectly aligning with the formation of a Bullish Bat Pattern. While others succumb to pessimism, I see the hidden potential for USDJPY to surge once again.
Long
by RaynLim
2
US30 33377 -0.5% SHORT IDEA 📉💡🐻HELLO EVERYONE HOPE EVERYONE IS DOING GOOD. * Looking at THE DOW this coming week 1. US30 closed the week range bound. 2. Looking to take some liquidity to determine direction for the week. 3. should we take BSL looking to target shorts/ SSL. 4. Looking for continuation of the trend on the DOW. lets see how it goes. IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - I TAKE MY TRADES ON A INTRA DAY SESSIONS BASIS THIS IS NOT FINACIAL ADVICE TO EXCECUTE ❤ LOVELY TRADING WEEK TO YOU!
UShort
by PULEMokhothu
XAUUSD | New perspective | follow-up detailsDespite Friday's report that showed U.S. consumer sentiment slumped to a six-month low in May, the US dollar rose. The Gold commodity has been a popular inflation edge, but the sentiment in the market is looking "mixed" as worries that political haggling to raise the borrowing cap could trigger a recession in the US. In this regard, the XAUUSD chart reflects an indecisive phase as price action remain within the 2,050 and 2,000 range since the beginning of the month. In this video, we dissected the current market structure from a technical standpoint to decipher the potential move of price action in the coming week as we look forward to the Retail sales data from US economic docket. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
OANDA:XAUUSD
by darcsherry
Unlocking Profit Potential: Why I'm Holding Out for a Prime BuyiThis week, an opportunity has presented itself for a potential buying position on the GBPUSD pair. Two prominent trading setups - the Bullish Shark Pattern and the AB=CD pattern - have emerged, signalling a potential bullish trend. While I hold a bullish bias due to a previous break and close above resistance on the weekly chart, I exercise caution and wait for confirmation from candlestick patterns before entering the trade. This strategic approach ensures that I make informed and calculated trading decisions.
Short
by RaynLim
USOil | New perspective for the week | Follow-up detailDriven by worries about demand linked to recession risks and the strain in the US banking sector, the oil prices experienced a dramatic decline in the previous week (6.5% drop). However, Oil prices received a boost after Friday’s robust US jobs report which eased concerns over the prospect of a downturn in the economy as strong jobs growth is often a plus for oil, whose consumption depends on peoples’ mobility and economic vibrancy. The US economic docket will be closely watched in the coming week as the US Department of Labor Statistics is set to release April inflation data on Wednesday with economists expecting the core consumer price index, which excludes volatile food and fuel prices, to increase by 5.5% on a year-over-year basis, after a 5.6% increase a month earlier. A weaker-than-expected reading could increase the expectations for a rate cut which in turn may cause a price correction upward in the coming weeks for the oil commodity but a beyond-expectation data would support the case for interest rate hikes in the future. In this video, we dissected the market structure from a technical standpoint to sniff out trading opportunities ahead of the new week. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FX:USOILSPOT
by darcsherry
Bullish, Planning to Buy & HoldDespite being within the sell zone on the weekly chart, there has been a clear break and close above the previous structure. This has led me to adopt a bullish stance on the mid to long-term outlook and I'm currently waiting for a buying opportunity on the 1-hourly chart. The buying opportunity may arise either at the trendline, if the candle touches it but doesn't break and close below it, or at the support level of 1.2556, which could provide another potential entry point for a long position. Stay alert for these potential opportunities to capitalize on the market's movement.
Long
by RaynLim
GBPUSD | Perspective for the new week | Follow-upGBPUSD turns positive for the fourth straight week but this time around did a significant breakout of the 1.25000 level - climbing to a two-week high on Friday to set the tone for a bullish momentum ahead of the new month. However, bets for another 25 bps rate hike by the US Fed Reserve in the coming week could tilt an imbalance in the market influx. It is also important to note that the coming week is laced with a handful of high-impact macroeconomic event that could incite a choppy situation in this market. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
by darcsherry
XAUUSD | New perspective | follow-up detailsThe previous week witnessed a risk-averse market atmosphere that helped the US Dollar find demand at the 1,970 area as a safe haven ahead of the FOMC. Economic data from the previous week reveals that though inflation is falling, it still remains well above the Federal Reserve's annual goal of 2% hereby increasing the expectations of another 25 basis-point interest rate hike when the central bank meets next week - a move which is likely going to favor the Greenback. In this video, we have taken the time to dissect the current market structure from a technical standpoint to identify potential trading opportunities ahead of the new month. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FOREXCOM:XAUUSD
by darcsherry
2
USOil | New perspective for the week | Follow-up detailThe previous month witnessed a 4% drop in oil prices despite the OPEC+ member's decision to cut a further 1.7 million barrels from its daily output, adding to an earlier pledge from November to take off 2.0 million barrels per day. The implementation of this pledged cut is supposed to begin next month - May 2023 and this could result in some interesting market influx as the month starts in the coming week. In this video, I shared with you my thought process from a technical standpoint as we plan to take a decisive position ahead of the market opening. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FX:USOILSPOT
by darcsherry
Taking an Aggressive Approach for Extended TargetsAfter a considerable wait, the bullish bat pattern has finally been completed, indicating a potential buying opportunity for traders. However, conservative traders may want to wait for the candlestick to close at 1.2463 before entering the trade. On the other hand, I took a more aggressive approach and entered the trade today, given the presence of two extended targets on the GBPUSD trade. It will be interesting to see how this trade progresses, and I have placed a safe house at the traditional first target of the Bat Pattern to manage my risk effectively.
Long
by RaynLim
Why News Headlines Can Be MisleadingIn recent times, we have been bombarded with headlines such as "Dollar Slide", "US Debt Ceiling Closing", "US Bank Failure", "19 Countries show interest in joining the BRICS". While these news items may give the impression of a weakening US Dollar, it is important to take a closer look at the chart. Contrary to these headlines, the US Dollar is actually appreciating! Smart traders know it is important to analyse chart patterns and not rely solely on news headlines. For trend traders, a buying opportunity could arise when the market retraces and sits on the blue trendline. Meanwhile, counter-trend traders may need to adopt an aggressive approach by waiting for the 3-bar reversal to appear within the red box for a potential counter-trend trading move. Remember, don't be misled by news headlines, always analyse the chart and make informed trading decisions.
Long
by RaynLim
Critical Support Level Identified for GBPUSDOn closer analysis of the GBPUSD on a higher timeframe, it is evident that the candlestick has closed above the previous high, thereby confirming the bullish trend of the currency. However, one must exercise caution before diving in, as the current market price is currently situated on the weekly chart supply zone, which traditionally indicates a sell zone. Nevertheless, my outlook remains bullish on the GBPUSD, and I plan to take a measured approach by waiting for the market to retrace back to 1.2500 and watch out for a Double Bottom on the 1-hourly chart before making any trading decisions. This strategy will enable me to minimize risk while maximizing potential returns.
Long
by RaynLim