Could price bounce from here?US Dollar Index (DXY) is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance that acts as a pullback resistance.
Pivot: 100.54
1st Support: 100.21
1st Resistance: 101.25
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Falling towards 50% Fibonacci support?USOUSD is falling towards the support level that is an overlap support that lines up with the 50% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 67.83
Why we like it:
There is an overlap support level that lines up with the 50% Fibonacci retracement.
Stop loss: 66.26
Why we like it:
There is a pullback support level.
Take profit: 70.43
Why we like it:
There is a pullback resistance level.
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SPX & Bitcoin Correlation & US presidential election #Spx 1D chart;
Let me first talk about the importance of the S&P 500 chart;
They are positively correlated (i.e. they move together):
*#Nasdaq100
*#Oil
*#Bitcoin (sometimes)
Now, what I want to draw your attention to is that just before the presidential elections, in September and October, there was always a decline. After the elections, there has been a continuous upward trend in the first 100 days.
Not counting the 2008 world economic crisis, this has never changed in the last 3 elections. Even after the 2008 crisis, after falling for a while, it started to rise immediately afterwards. The data we are evaluating here is the first 100 days.
In September 2024, I indicated the decline with an orange circle
With a decline in October, a long-term uptrend may begin.
If Bitcoin also shows a correlation here, which is my expectation as in the #Btc chart I drew earlier, we will start a permanent uptrend after suffering for another 1 month.
SP500 end of first 100 days data after the US Presidential election:
Post 2020 Election (Joe Biden): +17%
Post 2016 Election (Donald Trump): +10%
After 2012 Election (Barack Obama - Second Term): +10%
After 2008 Election (Barack Obama - First Term): -19%
US30 | Trade ideaKey Points:
Tesla: Shares fell 1.6% after a report that the company plans to produce a six-seat Model Y in China by late 2025.
Boeing: Dropped 7.3% following a downgrade from Wells Fargo to "underweight" from "equal weight."
Nvidia: Slumped nearly 10%, wiping out a record $279 billion in market value, marking the largest single-day decline for a U.S. company.
U.S. Manufacturing: Edged up in August from an eight-month low but remained subdued, according to ISM data.
Market Performance:
S&P 500 fell 2.1%
Nasdaq dropped 3.3%
Dow declined 1.5%
This marks the biggest daily percentage decline for these indexes since early August.
Nine out of 11 S&P 500 sectors fell, with technology, energy, communication services, and materials leading the decline.
Market Sentiment: Weakened amid concerns about the Federal Reserve’s interest rate decisions, with September being historically one of the worst months for stock market performance.
Volatility: The CBOE Volatility Index (VIX) jumped 33.2% to 20.72, the highest close since early August.
Trading Volume: Totaled 12.14 billion shares across U.S. exchanges, above the 20-day moving average of nearly 11 billion.
Labor Market: Traders are awaiting labor market reports ahead of the August non-farm payrolls data.
Fed Meeting: Scheduled for Sept. 17-18, with a 63% chance of a 25-basis point rate cut and a 37% chance of a 50-basis point cut, according to the CME FedWatch Tool.
Market Breadth: On the NYSE, declining issues outnumbered advancers by 2.52-to-1, while on the Nasdaq, decliners outnumbered advancers by 3.5-to-1.
Navigating the Nasdaq's Turbulence: A Peek into the Week AheadAs we head into the trading week, let’s zero in on some critical levels on the CME_MINI:NQ1! Nasdaq that are making the rounds in savvy financial circles. With a bit of a bearish vibe from the get-go, understanding these might just set the stage for some strategic plays.
Top Tier: 19,300 to 19,400
Keep your eyes peeled on this upper bracket. It's where the ceiling might just come crashing down with selling pressure. A lot hinges on how prices react here—will they retreat or break through unexpectedly?
Middle Ground: Around 19,200
Here lies the Fair Value Gap, a zone that often acts as a decision-making hub for the bulls and bears alike. If prices struggle to push past this, it might just reinforce the gloomy outlook for the week.
Entry Alert: Near 19,100
Thinking of going short? This could be your spot. The Optimal Trade Entry point around 19,100 is where the action could heat up, signaling a strong entry if bearish momentum continues.
Watch Your Step: Around 18,730
This level has history. It's served as a balance point before and could either prop up prices for a rebound or give way under bearish pressure, leading to further declines.
Base Camp: 18,300 to 18,550
Down here, if the floor gives way, expect the bears to rush in even stronger. It's a critical zone to gauge just how far the current sentiment could drag the market down.
___________________
Abbreviations
D FVG - Daily Fair Value Gap
D OTE - Daily Optimal Trade Entry
Eq 4h - Equilibrium 4 hours
OTE 4h - Optimal Trade Entry 4 hours
NDOG - New Day/Week Opening Gap
#Bitcoin to US Narrow Money Supply (M1) ratio 1W chart;#Bitcoin to US Narrow Money Supply (M1) ratio 1W chart;
I suggest you read it to the end.
This type of chart is used to understand how much Bitcoin has gained or lost in value relative to the Narrow Money Supply in the US.
In the chart, the total market capitalization of Bitcoin is plotted against the US Narrow Money Supply (M1). M1 includes money in circulation (cash) and demand deposits at banks. This type of ratio can help to understand how valuable Bitcoin is in the macroeconomic environment.
In a nutshell;
If the chart is rising : Bitcoin is rising.
If the chart is falling : The US money supply is increasing.
If the US money supply increases and Bitcoin's market capitalization remains the same, then the chart will fall again. It means that Bitcoin is losing value against the US dollar.
In short, we need to look more carefully at what is causing the decline.
When does the US Narrow Money Supply (M1) appreciate?
- Raising interest rates
- Economic empowerment
- Liquidity reduction
The first 2 points above are not hard to guess, but let's elaborate on point 3;
The FED may implement monetary tightening policies to reduce the amount of dollars in the market. In this case, the money supply may contract and the value of the dollar may rise. This is called illiquidity.
To summarize;
An appreciation of the US money supply often puts pressure on risky assets such as Bitcoin and can depress their prices.
There are also important historical notes above the chart
The white trend line is important . Because every time it comes here, we see that it experiences strong price movements with important news.
Therefore, it may be necessary to follow the agenda closely when it comes to this trend line again.
US HOUSING MARKET CRASHUS Real Estate Price Index Analysis:
The chart illustrates a long-term upward trend in the US real estate market, with prices consistently climbing over the years. However, we are now approaching a critical phase that requires close attention.
Pre-Election Period and Mid-2025 Outlook:
As we move towards the upcoming elections and into mid-2025, real estate prices in the US are expected to continue their ascent. This trend will be heavily influenced by consumer purchasing power and interest rates on loans, which individuals should monitor separately. The continued growth is driven by demand, but this is likely to face significant headwinds soon.
Impending Crisis in 2025:
As we enter 2025, the real estate market is on the brink of a major crisis. Prices are predicted to plummet, potentially falling to an average of $380,000 per home. If prices break below this level and sustain, we could see a further drop, possibly revisiting the 2020 price levels where the average home price ranged between $280,000 and $300,000.
Market Correction and Future Growth:
The market is expected to correct by approximately 30%, after which it should resume its growth trajectory. This correction will be tied to the growing unaffordability of new homes for the average family, as credit interest rates rise to levels beyond the reach of many. Consequently, more people will opt to rent rather than buy, leading to an oversupply in the market as homeowners struggle to keep up with mortgage payments.
With the increasing number of properties flooding the market and demand not keeping pace, the imbalance will push prices down. Additionally, global military conflicts and the policies of the Democratic Party, should they win the election again, will likely lead to a prolonged two-year recession from early 2025 to the end of 2026. Real estate will be one of the last sectors to recover from this crisis.
Strategic Buying Opportunity:
Given this outlook, I anticipate a market bottom by the end of 2026, making early 2027 the optimal time to purchase real estate in the US. This period should offer the best prices before the market stabilizes and begins its next growth phase.
US500 - Roadmap to 6kHello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 US500 has been overall bullish, trading within the rising channel marked in red.
As long as the $5000 round number holds, I expect further bullish continuation towards the upper bound of the channel and $6000 round number.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
Tesla on the rise...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📉TSLA has been overall bearish trading within the falling channel marked in red.
Currently, TSLA is hovering around a massive round number $200.
🏹 For the momentum to be shifted from bearish to bullish, a break above the last major high marked in red is required.
📈 In such a scenario, a movement towards the previous major high at $270 is expected.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
EURUSD 11/8/24This week in EUR/USD, we have liquidity placed above our highs in a bullish range. Last week, we played bearish within price action, ultimately putting in these highs to form liquidity. Based on this, we could run the liquidity coming into this week, or we may drop further into the range. We have met the 50% level of the range, so there is sufficient liquidity behind price to shift it higher.
Now, of course, we have some fundamentals coming up this week, so price may shift accordingly. Overall, we are looking for price action to run the highs as we remain bullish, with fundamentals favoring dollar weakness. This leads us to believe that this scenario could play out. There is a hotspot within this liquidity, marked by our golden line, where price may react to sell back for a deeper retrace or blast through and take the high.
We have a very clear area of demand at the base of our range. If we drop lower, we can look for that area to react. The main point is to follow what price is actually showing you, rather than what we want to see.
Trade safe and follow your plan.
EURUSD - Shorting Again!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈As per my last analysis, attached on the chart, EURUSD rejected the upper bound of the rising blue channel.
Currently, EURUSD is retesting that trendline again!
Moreover, the zone marked in green is a strong resistance zone.
🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the resistance zone in green and upper blue trendline acting as a non-horizontal resistance.
📚 As per my trading style:
As #EURUSD approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Looking for reversal in DXY under 102.2 zone(8/5/2024)In our last analysis, our prediction played well, the DXY corrected to 103.7, and after NFP data reached 102.7.
With the fear of recession and NFP data, We are expecting DXY to retest the 102 zones.
Our technical view has been shown in the chart.
If you like it then Support us by liking, Following, and Sharing.
Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
TOLL Brothers #TOL new high vs US single family home priceHomemakers are making money over fist.
Does this confirm that the housing bull market will continue.
It seems like it doesn't it
This ratio highlights the housing bottom in the 90's
this Ratio also topped out in 2005 before the housing bubble popped
#Roaring20's
47k Coming for Bitcoin?$Bitcoin #CME 1D chart;
The gap formed by the opening last week has not yet been filled. I think the rise will not start before this place is filled.
The Bat Harmonic structure, which is also formed in the current structure, points us to $ 47k levels. It is difficult to say anything clear if it will come true. However, we should not forget that this possibility also exists.
Bitcoin had received an upward reaction with the support it received with its last visit to the IMB level. However, as can be seen, it has not yet made any contact with the IMB zone at $ 47k levels.
It doesn't always touch these areas, of course, but why not:)
US500 - Decision Zone!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
US500 has been overall bullish trading within the rising channel marked in red.
This week, US500 is in a correction phase and it is currently retesting the lower red trendline.
📈As long as the last low marked in red holds, we expect a bullish continuation.
📉 In parallel, if the last low in red is broken downward, a deeper correction towards the lower orange trendline and zone would be expected.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
US30 /Critical Levels & Volume Signal Potential Bullish Breakout Technical Weekly Analysis: US30 (Dow Jones Industrial Average)
A Short Outlook on the Previous Movement:
The US30 has experienced a strong bullish trend, characterized by an ascending trend line that began around early 2023. The price saw significant gains until it reached a resistance level near 40,970.0, where it faced some consolidation and pullbacks. Recently, the price has been trading within a defined range, testing both support and resistance zones.
Current Outlook:
The current price of US30 is around 39,218.5, positioned near a critical pivot zone. The market is showing mixed signals, with potential for both bullish and bearish movements depending on the price action around key levels.
Bullish Scenario:
Key Trigger: A break and sustained move above 40,005.0.
Targets: The immediate target would be the yearly resistance zone at 43,040.0.
Confirmation: The breakout above 39,575, along with strong buying volume, would confirm the bullish continuation towards 40,005 and potentially higher.
Bearish Scenario:
Key Trigger: A failure to break above the pivot zone and a decline below the demand zone at 38,700.0.
Targets: The price could drop towards the strong support zone at 36,460.0, and further down to 34,430.0 if bearish momentum continues.
Confirmation: Sustained selling pressure and a close below 38,700 would confirm the bearish outlook.
Key Levels:
Pivot Line: 39,218.5
Resistance Levels: 40,005.0, 40,970.0, 43,040.0 (Yearly Resistance Zone)
Support Levels: 38,700.0 (Demand Zone), 36,460.0 (Strong Support Zone & Breakout), 34,430.0
Expecting Weekly Range Movement:
- The anticipated weekly range is between the support at 38,700.0 and the resistance at 40,970.0. A breakout in either direction would define the next significant move.
Preferred Direction:
- Given the strong historical bullish trend and the proximity to the pivot zone, the preferred direction leans towards bullish if the price can break and sustain above 40,005.0. However, caution is advised as the market could still face significant resistance.
Summary:
The US30 is currently at a critical juncture. A breakout above 40,005.0 would confirm a bullish continuation towards the yearly resistance zone at 43,040.0, while a failure to break this level and a decline below 38,700.0 would signal a bearish move towards 36,460.0 and potentially 34,430.0. Traders should closely monitor the price action around these key levels to determine the next major trend.
NASDAQ - What do I expect?Hey Guys,
the Quarterly and Yearly Chart are Bullish. The Monthly is showing 5 waves - could mean that some traders are willing to take some profits because they expect an ABC - Wave Correction from here.
However, a Fifth Wave extension is not that unlikely because the third has not been extended.
in simple words: We might see a bit of a correction - or we will see a straight continuation -break above and retest the Highs - but I guess many will be happy taking a bit of profit here, thinking about the upcoming election in the USA - a bit of Consolidation would be expected at least thats what I am thinking…
Either Way - I will be cautious during the next week as it might indicate what Q3 will look like.
Thank you for reading…
Moderna - Correction Almost Done!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 MRNA has been overall bullish , trading above the trendline marked in blue.
Currently, MRNA is undergoing a correction phase in the shape of a falling channel.
Moreover, it is retesting massive support zone in green.
🏹 Thus, the highlighted blue circle is a strong area to look for trend-following buy setups as it is the intersection of the green support and lower blue/red trendlines acting as non-horizontal support.
📚 As per my trading style:
As #MRNA approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
US30 Bullish Trend with Key Support at 38,790Technical Analysis: US30
The price trend for US30 is currently bullish, targeting 39,050 as long as it remains above 38,790. There is also the possibility of a price correction down to 38,790.
Bullish Scenario:
As long as the price trades above 38,790, it will likely push up to 39,050.
Bearish Scenario:
If the price breaks below the support level at 38,790, it could decline to 38,580. Sustained trading below this level may result in a further drop to 38,400.
Key Levels:
- Pivot Line: 38,790
- Resistance Levels: 39050, 39350, 39700
- Support Levels: 38580, 38400, 38290
Today's Expected Range:
The price is expected to move between the support level at 38,790 and the resistance level at 39,050.
In summary, maintaining a position above 38,790 supports a bullish outlook with higher resistance targets, while trading below this level indicates potential bearish movement towards lower support zones.
Correlation Between US CPI Data and BTC PriceCorrelation between US CPI data and Bitcoin price in the following period since Nov '23:
14 Nov '23: CPI -0.5% > BTC +22.59%
12 Dec '23: CPI -0.1% > BTC + 16.29%
11 Jan '24: CPI +0.3% > BTC -17.36%
13 Feb '24: CPI -0.3% > BTC +45.84%
12 Mar '24: CPI +0.1% > BTC -15.68%
10 Apr '24: CPI +0.3% > BTC -18.21%
15 May '24: CPI -0.1% > BTC +17.38% (for now)
12 Jun '24: ???