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💡 XAUUSD: Can gold maintain its upward momentum?There are two main factors driving the increase in gold prices: - USD weakness: The USD fell 0.1% and hovered around a more than 2-month low recorded last week. This makes gold cheaper for holders of other currencies. - Expect the US to end interest rate hikes: Investors are expecting the US Federal Reserve (Fed) to begin slowing down interest rate increases after the US jobs report showed that the labor market is slowing down. heat. This also makes gold more attractive to investors looking for a safe haven. ➡️ Senior market analyst Craig Erlam at OANDA said that gold prices are rising spectacularly beyond 2,000 USD/ounce after a report published last week showed that inflation and the job market are cooling. ➡️ Gold prices have been pushed well above the 50, 100 and 200 day moving averages and are very close to the all-time high reached in August 2020.
OANDA:XAUUSDLong
by Stone_Haven
#NZDUSD bearish possibility move We can see price reaching out to the daily timeframe bearish channel upper line, which potentially can act as resistance for the price. Additionally, we can spot the formation of a rising wedge pattern in the chart, which is intrinsically bearish and is regarded as a reversal formation in an uptrend. Another factor indicating the loss of bullish momentum is the decrease in cycle amplitude . A decrease in cycle amplitude in an uptrend is an early indication that there may potentially be underling weakness. (use 4 hour time frame chart for this.) Moreover, we have a static resistance area that previously acted as support and resistance for the price, making it an important area to observe for price reactions. It's crucial to note that any breakout from the upper side of the rising wedge pattern or the bearish channel would invalidate this analysis. For taking a position any breakout from below the rising wedge or changing market structure in 4-hour time frame could give us the entry trigger. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Short
by mohemati
5
💡 EURUSD: Will it maintain its position?➡️ Currency traders observed the Euro maintaining its bullish position against the US Dollar today, persistently aiming for the 1.1000 mark and finding support at 1.0900. However, the Euro faced a decline against the British Pound, reaching a two-week low. ➡️ Changes in investor sentiment can be attributed to evolving expectations regarding the monetary policy of the European Central Bank. The anticipated ECB rate cut, initially projected for April, has been pushed back to June, with the expected cut now scaled down to 83 basis points. While the forex markets showed relative stability last week, upcoming inflation data from both the Eurozone and the United States in the following week is anticipated to play a pivotal role in determining the trajectory of currency movements. Traders are advised to closely track these reports for insights into potential future central bank actions and their likely impact on currency valuations.
Long
by Stone_Haven
4
💡XAUUSD:Strong increase thanks to economic policies from the US➡️ Recent trends in gold prices are primarily influenced by US monetary policy. Gold has successfully surpassed the $2,000 level and is anticipated to conclude the week with positive gains for the second consecutive time. Despite this, some organizations hold the view that the potential for further increases in gold prices is limited. The Federal Reserve's commitment to tightening monetary policy suggests that overcoming the current resistance level could be challenging for gold. Additionally, the agreement on a limited ceasefire between Israel and Hamas has diminished the attractiveness of gold. ➡️ On the H4 chart, gold made an attempt to break out but faced resistance, with the MACD histogram bar and double line indicating a potential peak divergence. The most significant risk for gold is associated with a strengthening USD, driven by rising bond yields and overbought conditions.
OANDA:XAUUSDLong
by Stone_Haven
1
💡 GBPUSD: Wait to sell at the reversal signal➡️ GBPUSD has approached the weekly resistance zone and we see the price weakening in momentum. That means the price forms a higher peak, but it is clear that neither the candlestick nor the distance to create the peak is strong. However, this is not a reversal signal. If we want a reversal trade from this zone, we need more confirmation. ✔️ So with this currency pair, you should first monitor the price action around the current area. If the price forms a strong reversal signal, you can consider selling. In case the price continues to rise and breaks the current resistance, we will continue to buy.
Short
by Stone_Haven
💡 XAUUSD: Strong increase due to weak USD➡️ Gold held its ground in the final trading session of the week, securing its second consecutive weekly gain. The upswing in gold prices was driven by a softening dollar, with analysts increasingly speculating that the US Federal Reserve (Fed) had concluded its interest rate hike. The decline in the US Dollar Index renders gold more affordable for holders of alternative currencies. ➡️ Senior analyst Lukman Otunuga from FXTM noted that gold has entered a holding pattern as investors anticipate further insights into the Fed's monetary policy stance. Hovering around the $2,000 per ounce mark, gold is currently seeking a catalyst to strengthen its momentum. ➡️ Recent data revealing a larger-than-expected decrease in new unemployment claims among Americans last week tempered expectations for a Fed rate cut in 2024.
OANDA:XAUUSDShort
by Stone_Haven
4
XAUUSD: short-term BUY XAU strategyXAU has increased dramatically this morning, specifically in 2018 due to recognition from the FED, the end of the interest rate hike cycle, experts say that XAU will continue to increase in the near future Experts say that the current headwind for gold is still rising bond yields. Therefore, the market may be sensitive to important reports this week, including US third quarter GDP data. Although the US economy is expected to grow strongly in the third quarter, there are growing concerns about a slowdown in activity in the quarter. Looking at gold's technical picture, analysts note investors and traders should watch for initial resistance at $2,010 an ounce. If this level is broken, gold could rise steadily to $2,050/ounce, before hitting an all-time high of $2,082/ounce, predicts Fiona Cincotta, senior market analyst at City Index.
OANDA:XAUUSD
by FalCol_TradingMaster
💡 GBPUSD: Predicted November 23➡️ The market experienced a steep decline in the initial half of the session, followed by a resurgence of buying activity that resulted in long candle shadows below. This indicates that sellers did not exert strong dominance. The overall situation has remained relatively unchanged since the last session. Our expectation is for the price to continue its upward movement, approaching the target set by the double bottom pattern. It is advisable to steadfastly maintain your existing long positions.
Long
by Stone_Haven
Convergence of PatternsTraders, I've spotted a compelling shorting opportunity on AUDCAD, presenting itself differently across various timeframes. Specifically, the daily chart indicates a trend trading setup, showcasing the convergence of both the Bearish Shark and Bearish Crab Patterns in the same region. My strategy involves waiting for the market to reach the 0.9000 region before considering engagement. At this level, I anticipate price action traders joining in, amplifying the trade potential. What are your thoughts or trade plans for AUDCAD? Share your insights or potential strategies below!
Short
by RaynLim
1
Contradictory Patterns & Potential Buy SetupIt seems that the USDJPY is presenting challenges in trading decisions. Despite the presence of a valid bearish fib-3 bat pattern, your interest lies in seeking a buying opportunity, expected to materialize potentially by Tuesday based on further market development. You've also noted the invalidation of a Bullish Gartley Pattern on the 1-hourly chart, cautioning against trading this setup without proper understanding, suggesting seeking guidance if unclear. What trade plan or strategy are you considering for USDJPY? Feel free to share your insights or plans below!
Long
by RaynLim
AUDUSD - Trend Formation?Early last week, traders started taking profit on US dollar long positions in anticipation of an end to rate hikes. The Federal Reserve shared a sentiment that there likely won't be any further rate hikes, but they will remain elevated depending on how inflation figures come out. From a technicals perspective, I am beginning to see some major shifts happening. Over on the AUDUSD pair, there are two key points I'd like to point out. Price breaches above a consolidation, which I mark in a style similar to the Darvas box system. Simultaneously, the moving average crossover is a further confirmation that price momentum is accelerating to the upside. This pair closed off strong last Friday so I do anticipate seeing a smaller pullback on Sunday's open before a further rally to the upside.
Long
by FinancialGamblR
#USDCNY long term selling opportunityPrice in Daily timeframe seems like to complete 5 wave bullish move and also we can see bearish standard divergence between price and MACD which is a very good signal for pinpointing the top. But the important thing to remember before taking position is to see market structure shifting to the downside with forming a lower high or creating a new low which at the moment non of this signals has been given by the price. So its best to wait for the price to confirm the bearish signals its giving to us before jumping to trade. Please also look at the other analysis in the weekly timeframe that I have posted for higher time frame confirmations which is also tagged.
Short
by mohemati
1
#USDCNY long term selling opportunityAs you can see in the chart massive bearish divergence between price and MACD indicator in weekly time frame which can cause a long term selling opportunity. Also price is testing bullish trend line acting as resistance since its connecting the tops and every time price test this trendline sellers jumped into market and drive price lower. Also as you can see we already had bearish divergence in the price before and caused prices to come lower in previous tops
Short
by mohemati
💡 XAUUSD: Gold accumulates sideways, waiting for a breakthrough➡️ Gold saw an increase in value yesterday, but the daily chart (D1) formed a bar with a very narrow range and an upper shadow, indicating the presence of selling pressure at higher levels. The D1 bar, characterized by a limited price range, was part of the preceding inside bar pattern, representing a "double" price combination with the inside bar + narrow range bar price action combo. Despite these fluctuations, gold on the D1 chart is currently facing resistance and has not been able to breach the 2,000 mark. The chart structure suggests a sideways accumulation pattern for D1 gold. ➡️ On the hourly chart (H1), gold is also consolidating sideways and encountering resistance at higher levels. It is advisable to consider buying gold below the current levels, as attempting to buy above may face obstacles, especially around the 2,000 mark. If the price breaks below the current levels, one might consider waiting to initiate a selling position.
OANDA:XAUUSDLong
by Stone_Haven
1
Very critical area for Silver Silver is currently at a critical juncture, and a breakout above this resistance could lead to a rapid shift in the overall market sentiment. It's essential to note that we are analyzing a daily chart featuring a bearish channel. In the event of a bullish breakout, the price target would be the width of this daily channel. Given the high correlation between silver and gold, we may anticipate a similar behavior in gold. Considering that both gold and silver are often considered risky assets, particularly gold, if they are poised for such a movement, it suggests there might be a significant news release providing the necessary momentum for a breakout above this crucial resistance. However, it's crucial to remain cautious, as any breakout without substantial news support could be deemed a false breakout, potentially leading to a reversal.
TVC:SILVER
by mohemati
1
💡 EURUSD: Unpredictable➡️ EURUSD recently approached the support zone near 1.0890 and experienced a rebound. However, there are currently no clear buy signals. ➡️ On the shorter timeframes, the upward trend hasn't materialized yet, making it challenging for us to initiate buy positions. Therefore, it's prudent to adopt a cautious approach and observe further price action. The likelihood of the market continuing its downward trajectory remains significant. For those engaged in short-term trading, selling could be considered around the resistance area near 1.0925. It's essential to pay close attention to price movements. If the price convincingly surpasses the mentioned zone with strong momentum and fails to generate any sell signals, it would be wise to stay on the sidelines.
Short
by Stone_Haven
2