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EURUSD Bearish trend intact.The sell signal after the Double Top (September 23, see chart below) and the RSI Lower Highs rejection turned out to be a very accurate one and the price has already covered 75% of the distance to hitting our 1.08350 Target: Given that there shouldn't be much divergence until then, we want to focus today on the 1W time-frame. As you can see, based on the ranged (Rectangle) pattern of the past 2 years, the price is at the top of the neutral zone, not even having broken the 1W MA50 (blue trend-line). The 1.08350 is located on the 1W MA100 (green trend-line) and that is the minimum downside we expect, as the 1W MA100 provided the Lows of June 24 and April 15 2024. The long-term Support Zone is located considerably lower than that (1.04500 - 1.05250) and that is technically the downside potential of the pair. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
DXY Rebounding on the 1M MA50. But for how long?The U.S. Dollar index (DXY) is on a strong green 1M candle, already halfway through the month of October, as it is rebounding after making an exact test of the 1M MA50 (blue trend-line), the long-term Support. On this chart we can see the DXY's multi-year price action. Even though it was on a heavy downtrend since the February 1985 High, it managed to break above it in January 2015 and sustain a strong Channel Up, coming off the March 2008 bottom of the disastrous Housing Crisis. Within this strong Channel Up, we see a repeated pattern as long as Bullish and Bearish Legs are concerned. As you can see, the bottoms have been formed significantly below the 1M MA50, so this indicates that it is not time to buy yet. If anything, a controlled short is justified and as we get closer to the bottom of the Channel Up, start buying on a multi-year basis (as long as the 1M MA200 (orang trend-line) holds). Based on the 1M RSI, where the similarities with the previous Leg are more obvious, we should be around levels similar to October 2017, so starting next month or December, we should start resuming the downtrend and a 'modest' level to target is 97.000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:DXY
by TradingShot
Pullback resistance ahead?NZD/USD is rising towards the resistance level which is a pullback resistance that aligns with the 23.6% Fibonacci retracement and could drop from this level to our take profit. Entry: 0.6127 Why we like it: There is a pullback resistance level that aligns with the 23.6% Fibonacci retracement. Stop loss: 0.6172 Why we like it: There is a pullback resistance level that lines up with the 38.2% Fibonacci retracement. Take profit: 0.6053 Why we like it: There is a pullback support level. Enjoying your TradingView experience? Review us! 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.
Short
by VantageMarkets
Could the price bounce from here?The price is falling towards the support level which is a pullback support that aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 2,631.79 Why we like it: There is a pullback support that aligns with the 50% Fibonacci retracement. Stop loss: 2,604.25 Why we like it: There is a pullback support level. Take profit: 2,671.33 Why we like it: There is a pullback resistance level. Enjoying your TradingView experience? Review us! 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.
VANTAGE:XAUUSDLong
by VantageMarkets
Bearish drop for the Aussie?The price has reacted off the resistance level which is a pullback resistance and could drop from this level to our take profit. Entry: 0.6747 Why we like it: There is a pullback resistance. Stop loss: 0.6791 Why we like it: There is an overlap resistance that aligns with the 38.2% Fibonacci retracement. Take profit: 0.6688 Why we like it: There is an overlap support level that lines up with the 78.6% Fibonacci retracement. Enjoying your TradingView experience? Review us! 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.
Short
by VantageMarkets
Bullish reversal?GBP/USD is falling towards the support level which is an overlap support and a breakout from this level could lead the price to drop to our take profit. Entry: 1.3019 Why we like it: There is an overlap support. Stop loss: 1.3113 Why we like it: There is a pullback resistance that aligns with the 23.6% Fibonacci retracement. Take profit: 1.2940 Why we like it: There is a pullback support level that is slightly below the 61.8% Fibonacci retracement. Enjoying your TradingView experience? Review us! 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.
Short
by VantageMarkets
Bearish drop?Ethereum (ETH/USD) is rising towards the pivot and could reverse to the 1st support. Pivot: 2,493.86 1st Support: 2,396.64 1st Resistance: 2,566.10 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.
ICMARKETS:ETHUSDShort
by ICmarkets
3
Potential bullish rise?USD/ZAR is falling towards the pivot which has been identified as a pullback support and could rise to the 1st resistance which acts as an overlap resistance. Pivot: 17.3355 1st Support: 17.1641 1st Resistance: 17.59060 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.
Long
by ICmarkets
Sell GBP/USD Triangle Breakout The GBP/USD pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the downside in the coming hours. Possible Short Trade: Entry: Consider Entering A Short Position Below the Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 1.3055 Target Levels: 1st Support – 1.2988 2nd Support – 1.2960 Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Short
by KABHI_FOREX_TRADING
7
XAUUSD 13/10/24This week, gold's price action dropped and took out the liquidity to the left, as we discussed in last week's analysis. This move provided enough momentum to fuel a bullish shift, suggesting higher prices are likely, as indicated in our previous analysis. Looking left, there are two liquidity highs that are likely to be targeted next, followed by the all-time high, which is our primary target. Based on the principle that we may see a pullback into bearish pricing, we have identified an area of demand. If this demand zone delivers a bullish setup, we can look to go long from here, aiming for the all-time high. However, if there is no reaction at this demand zone, we will look for the liquidity below to be taken. Should the price not pull back at all, we will then anticipate the all-time high to be taken directly. Trade safe and follow your plan. Have a great trading week!
OANDA:XAUUSD
by rosshayes
EURUSD 13/10/24Starting off the week with the US dollar, we saw a significant sell-off last week, which eventually led to consolidation as the week progressed. Price action currently suggests a potential move higher before any long-term downward trend continues. As mentioned in previous weeks' analyses, there is now a buyer's market emerging. We expect the current price action to persist. While pullbacks are not guaranteed, a broader move towards lower prices in the long term is anticipated. However, short-term reaccumulation is also likely, meaning a push higher is just as probable as a continued sell-off at this stage. We are not expecting a substantial pullback, but the long-term outlook remains bearish. Key areas of interest include a significant supply zone and a liquidity high. If the price moves up to this level, a strong sell-off could occur. Nevertheless, the overall expectation is for the price to decline further before reaching these points. Stick to your risk and follow your plan!
by rosshayes
USD moved up with upside bias last week,but not a lot..what now?Hello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Last week, we mentioned that likely USD has more upside. It did climb higher and i did have some longs on Usdjpy and it was decent. Current level put USD at last daily chart consolidation area,which also happen to be flip zone in the past (refer to chart). Breaking up is still possible but looking at the almost 3% push up the last 2 weeks, there could be chance that usd correct too. This can be seen on Eurusd,gbpusd and its majors too. Let's watch and act accordingly. Do check out my recorded video (in trading ideas) for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. *********************************************************************
TVC:DXY
by Shadowing_The_Big_Boys
EUR/USD - Double Top Indicates Potential Reversalhello guys. Formation of Double Top: The EUR/USD has created a clear double top around the 1.1250 level, signaling potential exhaustion in the bullish trend. Breakdown and Retest: The price has broken below the key support zone near 1.1000, now acting as resistance, where sellers may enter the market. A possible short-term retest of the entry zone (1.1000 - 1.1020) is expected before a continued decline. Target Area: The projected target for this downtrend lies in the 1.0780 - 1.0820 support zone, marked in purple, where buyers might re-emerge. Channel Support: The long-term ascending channel provides additional confluence near the target zone, acting as a potential support area for reversal or consolidation.
Short
by melikatrader94
9
Gold can reach resistance line of channel and then start to fallHello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price bounced from the support level and started to grow near the support line to the resistance level, which coincided with the seller zone. Soon, the price broke the 2665 level and rose a little higher, but soon turned around and started to decline inside the downward channel, where it broke the support line with the 2665 level again. Gold dropped to the support line of the channel and then made impulse up to the resistance level and then continued to fall. Also later, the price reached the resistance level again, after which rebounded and dropped to the support line of the downward channel, breaking the 2625 support level, which coincided with the buyer zone. But a not long time ago it turned around and bounced up to this level, broke it again, and continued to move up. At the moment, Gold trades almost near the resistance line of the channel, so, I expect that it can reach the resistance line and then start to decline. Also, I think the price can break the support level and continue to fall, therefore I set my TP at 2615 points. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
5
USD/JPY Market Analysis 26/09/2024 After 70 days of constant decline, the USD/JPY pair has finally managed to break the descending trendline and exit the prolonged bearish trend. At the moment, it is still unclear whether this is a long-term trend reversal or just a short-term pullback within the larger downtrend. The charts clearly show a breakout of the main descending trendline, followed by a flip of the horizontal and diagonal support/resistance levels, which further confirmed the significance of this move. This breakout has been tested and validated at multiple levels — first at the diagonal trendline, and then at the horizontal support level. One of the key signals for this potential reversal is the bullish divergence on the 4-hour timeframe, which indicated a weakening of the selling pressure and a potential trend change. This signal was further strengthened by the crossover of the Moving Average 7 above the Moving Average 21, which occurred right before the breakout. After the breakout confirmation, the price managed to reclaim the 0.236 Fibonacci level, but it is now facing a crucial resistance at the MA 200 level, which will determine the next direction. We are currently at a critical juncture — either we break through this level and head towards the 0.382 Fibonacci level, or we retrace and test the horizontal support once more, which now serves as a key support zone. It remains to be seen whether the price can maintain these levels or if it will revert back into the previous trend. If we see another successful test of the horizontal support, it could indicate further upside potential and a transition into a more stable bullish trend.
by RhinoAkaBear
USD/JPY Analysis - September 30, 2024Based on the current technical review and previous analyses, we observe key changes on the USD/JPY chart. After the pair broke through a key resistance level, a pullback has occurred, allowing us to identify important technical zones and opportunities for entering scalp positions. In this analysis, we consider the main aspects of this breakout, the pullback, and potential for further growth. Breakout of Key Resistance and Pullback: The breakout was anticipated based on prior analyses. Following this breakout, the price began to retrace back towards previous resistance levels, which have now become support. The zone where this retracement is occurring coincides with the 0.61 - 0.65 Fibonacci level, further confirming the strength of this area as a "golden pocket" for potential reversals. Bullish Divergence and Volume Loss: As the price fell to this confluence, bullish divergence formed on lower timeframes, signaling a possible return of buying strength. The decrease in volume during this time indicates a loss of momentum among sellers, which contributed to the decision to enter a scalp position and take advantage of the bounce from this level. Trendline as Temporary Support: The diagonal trendline has served as crucial support during the bounce. The plan is to monitor this trendline, and if it is breached, a retest of the previous support level is expected, which will open a new opportunity for entry. This could be a key moment for establishing a new uptrend, as a support/resistance flip at this level is likely to trigger a new wave of buying activity. Fibonacci Golden Pocket (0.61 - 0.65 Fib Level): This zone is one of the most reliable areas for seeking price reversals in technical analysis. Located within the "golden pocket," it provides additional confluence that can confirm the validity of the plan. This zone often attracts investors as it represents an optimal balance between retracement and potential growth. Expected Setup and Take Profit Target: The target, set at 147.827, represents a resistance level that the price may test again after successfully flipping support into resistance. This target is logically set based on previous high price levels, while the setup offers a potentially very high Risk/Reward ratio of over 6.19, making it exceptionally attractive for trading. ⚠️ Disclaimer: ⚠️ 🚫 This is not financial advice. Trade responsibly and conduct your own research before making any decisions.🚫
by RhinoAkaBear
DXY: A Bullish Outlook for the USDThe US Dollar Index (DXY), a critical gauge of the dollar's performance against a basket of major currencies, recently encountered a significant demand area at 100.53. This pivotal point has historically acted as a fulcrum, influencing the currency's trajectory. Interestingly, this interaction coincides with a notable downturn in the commitment of traders (COT) report for retail traders, suggesting a pivotal shift in market sentiment. Retail Traders Retreat Amidst Bullish Signals Retail traders, often seen as contrarian indicators, have shown a marked decrease in their positions at this juncture, reaching notably low levels. This trend typically suggests a lack of confidence among smaller market participants, which can often precede a reversal when combined with other factors. It's crucial to consider these dynamics within the broader context of market sentiment and economic indicators. Institutional Insights: Fund Managers and Commercials Buying the Dip Conversely, the behavior of more significant market players such as fund managers and commercial traders provides a stark contrast. Fund managers have maintained or increased their bullish positions, demonstrating a robust confidence in the strength of the USD. Simultaneously, commercial traders, known for their strategic depth and market knowledge, have started accumulating positions, "buying the dip." This accumulation by commercials is often a reliable indicator of foundational strength in the market, suggesting that these savvy traders anticipate a forthcoming rise in the dollar's value. Technical and Seasonal Factors Align for a Bullish Scenario From a technical perspective, the DXY has shown signs of being oversold. When a financial instrument reaches such conditions, it often suggests that the selling momentum might be overextended, priming the market for a bullish reversal. This technical signal, in conjunction with the identified demand area, provides a compelling case for an impending upward movement. Moreover, seasonality also plays a critical role in the dynamics of currency markets. Historical data and patterns can influence trader expectations and market movements significantly. For the DXY, seasonal trends around this time of year have frequently aligned with strengthening trends, reinforcing the current analysis that an uptick could be on the horizon. Looking Forward: A Bullish Forecast for the USD Considering these multifaceted insights—from the COT data illustrating a shift away from retail bullishness to the strategic accumulations by institutional players, and the supportive technical and seasonal indicators—the stage is set for a potential long-term increase in the value of the USD. Traders and investors would be wise to monitor these developments closely, as the confluence of these factors could lead to significant opportunities in the forex markets. The current landscape of the DXY presents a textbook scenario where understanding the interplay between different trader behaviors and technical indicators can provide a strategic advantage. As we move forward, keeping a pulse on these shifts will be crucial for capitalizing on the anticipated upward trajectory of the USD. ✅ Please share your thoughts about DXY in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
TVC:DXYLong
by FOREXN1
3
USDHKD One of the best buys in the market.The USDHKD pair just formed a 1W Death Cross this week but the current 1W candle is a green one. The reason is that it is rebounding after reaching last week the 2-year Support Zone. We believe that we will see an aggressive rise next that will approach the Lower Highs trend-line. Our target is just below it at 7.82500. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot