Overlap resistance ahead?XAU/USD is rising towards the resistance level which is an overlap resistance and could reverse from this level to our take profit.
Entry: 2,714.61
Why we like it:
There is a pullback support level.
Stop loss: 2,758.14
Why we like it:
there is a pullback resistance level that aligns with the 127.2% Fibonacci extension.
Take profit: 2,667.31
Why we like it:
There is a pullback support level.
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USD (US Dollar)
Bearish drop off pullback resistance?USD/JPY has reacted off the resistance level which is a pullback resistance that aligns with the 50% Fibonacci retracement and the 161.8% Fibonacci extension and could drop from this level to our take profit.
Entry: 152.22
Why we like it:
There is a pullback resistance level that lines up with the 50% Fibonacci retracement and the 161.8% Fibonacci extension.
Stop loss: 153.56
Why we like it:
There is a pullback resistance level.
Take profit: 150.78
Why we like it:
There is an overlap support level that lines up with the 50% Fibonacci retracement.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bearish drop?EUR/USD is rising towards the resistance level which is an overlap resistance that lines up with the 50% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 1.0543
Why we like it:
There is an overlap resistance level that aligns with the 50% Fibonacci retracement.
Stop loss: 1.0564
Why we like it:
There is an overlap resistance level that is slightly above the 61.8% Fibonacci retracement.
Take profit: 1.0502
Why we like it:
There is a pullback support level.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
USDJPY Channel Up bottomed. Very strong BUY.USDJPY is trading inside a Channel Up and the price is starting to recover from November's bearish wave correction.
It has already crossed above the MA50 (4h) and only the MA200 (4h) remains to confirm the trend shift.
Trading Plan:
1. Buy after the price crosses above the MA200 (4h).
Targets:
1. 162.500 (top of the Channel Up and under the 2.0 Fibonacci extension).
Tips:
1. The RSI (4h) is printing a cup into Channel Up pattern, identical to the previous Low of the Channel Up. An additional buy signal.
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EURUSD: Standard Channel Up targeting above the 4H MA200.EURUSD may have turned bearish today on its 1D technical outlook (RSI = 41.238, MACD = -0.005, ADX = 33.591) but 4H remains neutral as the pullback is the technical bearish wave of the Channel Up you see on the chart. The two bullish waves we've had so far have been exactly the same at +1.65% with the 4H RSI S1 Zone providing the most accurate buy entries. Consequently, this is now the best level to go long and target a crossing over the 4H MA200 on another +1.65% bullish wave (TP = 1.06675).
See how our prior idea has worked out:
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DXY 1W Forecast until the end of MAY 2025Up-trend will resume and last until the end of February 2025 topping no higher than 114. Current bottom is in at 105.9
Hence, it shouldn't fall below.
After February a consolidation period of 1,5 months will trap price action between the bottom of 122.16 and upper level of 114.9
The spring squeezed during consolidation will provide enough energy for further upwards movement starting in the end of April 2025. This will ignite a chain of devaluation of national currencies followed by epidemic inflation across the globe. This will finish/cool-down at DXY reaching the mark of 148.
New reality after May 2025?
Gold 1H Intra-Day Chart 10.12.2024Gold is in a neutral zone right now, but overall I am bearish. Here is what I am looking for next;
Option 1: If Gold closes above $2,690 then we can see a short term bullish move towards $2,740 before it drops back down again.
Option 2: Gold keeps dropping in its bear trend. Our target is $2,580.
Buy USD/CHF Channel Breakout for next CPI DATAThe USD/CHF pair on the M30 timeframe presents a potential Buying opportunity due to a recent downward breakout from a well-defined Bullish Channel pattern. This suggests a shift in momentum towards the upside in the coming Hours.
Key Points:
Buy Entry: Consider entering a Long position around close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 0.8848
2nd Support – 0.8888
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Best Regards, KABHI FOREX TRADING
Thank you.
EURUSD Bulls Will Take Charge?EUR/USD bounces off a strong demand zone around 1.0530. With bullish structure building, we could see a rally towards 1.0650.
A key support zone at 1.0499–1.0530 has provided a strong foundation for a bullish reversal.
The rejection candle and subsequent bullish candles suggest that buyers are stepping in aggressively at this level.
Price is likely to target 1.0649 in the coming sessions, aligning with previous highs and liquidity areas.
Stay patient and follow the structure.
#USDDKK 4HUSDDKK 4-Hour Analysis
The USDDKK pair is forming a descending triangle pattern on the 4-hour chart, a bearish continuation pattern that indicates the potential for further downside. The price is consolidating near the support line, and a breakout below this level would confirm the bearish setup.
Technical Outlook:
Pattern: Descending Triangle
Forecast: Bearish (Sell Opportunity)
Entry Strategy: Enter a sell position after a confirmed breakout below the triangle’s support line.
Traders should look for confirmation such as a strong bearish candlestick closing below the support level or increased selling volume. Proper risk management is crucial, with stop-loss orders placed above the upper boundary of the triangle. Profit targets can be set at the next key support levels, aligning with the measured move from the triangle’s height.
Bearish drop?WTI/USD has reacted off the resistance level which is a pullback resistance that aligns with the 50% Fibonacci retracement and could drop from this level to our take profit.
Entry: 68.74
Why we like it:
There is a pullback resistance level that aligns with the 50% Fibonacci retraecment.
Stop loss: 70.41
Why we like it:
There is a pullback resistance level.
Take profit: 67.09
Why we like it:
There is a pullback support level that aligns with the 127.2% Fibonacci extension.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bullish bounce off overlap support?The Gold (XAU/USD) is reacting off the pivot which has been identified as an overlap support and could bounce to the 1st resistance which acts as an overlap resistance.
Pivot: 2,657.39
1st Support: 2,618.57
1st Resistance: 2,708.74
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Overlap resistance ahead?USD/JPY is rising towards the pivot and could reverse to the 1st support which acts as a pullback support.
Pivot: 151.83
1st Support: 149.63
1st Resistance: 153.43
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish drop?The Swissie (USD/CHF) is reacting off the pivot which acts as a pullback resistance and could drop to the overlap support.
Pivot: 0.8711
1st Support: 0.8711
1st Resistance: 0.8831
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bullish bounce?The Cable (GBP/USD) is falling towards the pivot and could bounce to the 1st resistance which is a pullback resistance.
Pivot: 1.2720
1st Support: 1.2646
1st Resistance: 1.2846
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
This is why AUD/USD bears need to watch USD/CNHBets are back on for the RBA to cut, with markets having now fully priced in three 25bp cuts beginning in April. Weak GDP was the culprit, which leaves the Aussie susceptible to further weakness should incoming data continue to deteriorate. However, Aussie bears may also need to factor the yuan into the equation.
Does the Canadian dollar have a bullish surprise up its sleeve?This is the question I am asking myself as we head into 2025. CAD has been the weakest major for some time now based on the BOC's easing cycle, and we saw a record level of net-short exposure against it in August, and another surge of shorts in November. This strikes me as a stale trade that is vulnerable to a shakeout, and it might not require a particularly large catalyst for CAD bears to capitulate and send USD/CAD lower.
MS