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EURUSD 22/09/24This week, we continue to expect a bullish Euro to US Dollar movement, similar to last week. The price moved higher and remained above the previous high. Now, our focus is on the daily high and an hourly demand zone that could drive further upside price action. We are also aligning with the institutional trajectory, which points upward. If the price dips to this level and shows bullish signals, we expect a continuation toward the daily high. At this point, we anticipate the price to remain bullish, with a small pullback likely before resuming its upward movement. Follow what price action is showing you. Remember that these areas are only to be tracked in terms of probability, not in terms of prediction of actual price action. Stick your plan follow your risk. trade safe.
by rosshayes
2
BTCUSD Weekend Outlook - Small Correction Before the Pump?GM crypto bro's, happy weekend! This Sunday morning, the Fear and Greed Index is still chilling in the neutral zone at 52, while the stoch RSI remains in the overbought zone. Looking at today’s price action, there’s potential for BTC to experience a small correction, maybe down to the 61K - 60K range, before continuing its pump towards our target of 65K - 66K. Keep in mind, the market is dynamic—don’t get FOMO. Be cautious of potential corrections because anything can happen. Always manage your risk. That’s it for today’s crypto update, this is Akki signing off. One chart, one love. Have a nice day!
INDEX:BTCUSD
by x_Akki
USD/JPY Forecast: Bullish Bias Expected – Key Factors to Watch.USD/JPY Forecast: Bullish Bias Expected – Key Factors to Watch (20/09/2024) As we analyze the USD/JPY pair on 20/09/2024, the outlook appears to be slightly bullish for this week and next. Several key drivers are pushing the U.S. dollar higher against the Japanese yen, creating an attractive opportunity for traders. In this article, we’ll break down the fundamental factors behind this forecast and highlight the elements influencing USD/JPY price action in the coming days. 1. US Dollar Strength Bolsters USD/JPY The strength of the U.S. dollar is a critical factor contributing to the bullish bias in USD/JPY. With the Federal Reserve signaling a commitment to maintaining high interest rates for an extended period, the greenback remains in demand. Fed officials have recently emphasized their concerns about persistent inflation, leading markets to believe that U.S. interest rates will stay elevated for longer than previously expected. This hawkish monetary stance, coupled with strong economic data, has made the U.S. dollar more attractive to investors. As a result, USD/JPY has been moving higher, with the strong dollar likely to continue exerting upward pressure on the pair. Key SEO keywords: USD/JPY forecast, US dollar strength, Federal Reserve policy, interest rate hike, USD/JPY price action. 2. Dovish Bank of Japan Keeps the Yen Weak On the other side of the equation, the Japanese yen remains under pressure due to the Bank of Japan’s (BoJ) ultra-loose monetary policy. The BoJ has shown no signs of tightening monetary policy in the near term, despite global inflationary trends. Japan’s central bank continues to prioritize economic support, maintaining low interest rates while avoiding any drastic policy shifts. This dovish stance contrasts sharply with the Federal Reserve’s hawkish policy, widening the interest rate differential between the U.S. and Japan. This is a major driver of USD/JPY’s bullish outlook, as investors gravitate towards the higher-yielding U.S. dollar over the lower-yielding yen. Key SEO keywords: Bank of Japan policy, Japanese yen weakness, dovish BoJ, USD/JPY interest rate differential, yen depreciation. 3. Interest Rate Differentials Favor USD/JPY Upside One of the most important factors pushing USD/JPY higher is the widening interest rate differential between the U.S. and Japan. While U.S. Treasury yields remain attractive, the yield on Japanese government bonds remains low due to the BoJ’s dovish policy stance. This gap in yields makes the U.S. dollar more appealing for investors seeking better returns. The widening interest rate gap is a key bullish signal for USD/JPY, as capital continues to flow into U.S. dollar-denominated assets. As long as the Federal Reserve maintains its hawkish tone, and the BoJ remains accommodative, this dynamic will likely support the bullish bias for USD/JPY. Key SEO keywords: Interest rate differentials, U.S. Treasury yields, Japanese bond yields, USD/JPY bullish outlook, capital flows into USD. 4. Japanese Economic Weakness Adding Pressure on the Yen Another factor supporting the bullish bias for USD/JPY is the ongoing weakness in the Japanese economy. Japan has struggled with slow economic growth and weak inflation, further justifying the BoJ’s cautious approach to monetary policy. Domestic consumption remains low, and Japan’s economic recovery has been uneven. As a result, the Japanese yen continues to face downside pressure, while the U.S. dollar benefits from stronger economic fundamentals. This divergence between the U.S. and Japanese economies adds to the case for a stronger USD/JPY in the coming weeks. Key SEO keywords: Japanese economic weakness, low inflation in Japan, weak yen, Bank of Japan policy, USD/JPY forecast. 5. USD/JPY Technical Analysis Suggests Further Upside Potential From a technical standpoint, USD/JPY is showing signs of further upside. The pair has been testing key resistance levels, and if these levels are broken, we could see a more significant bullish move. The recent price action has shown strength, with USD/JPY consistently finding support at higher lows. Traders should watch for a potential breakout above these resistance zones, as it could signal further gains for USD/JPY. With strong fundamentals supporting the pair, the technical outlook aligns with the overall bullish bias. Key SEO keywords: USD/JPY technical analysis, key resistance levels, USD/JPY price action, bullish trend, support and resistance. Conclusion: Bullish Bias Expected for USD/JPY In conclusion, several fundamental and technical factors support a slightly bullish bias for USD/JPY over the next couple of weeks. The ongoing strength of the U.S. dollar, the dovish stance of the Bank of Japan, favorable interest rate differentials, and Japan’s economic challenges all point towards further upside potential for USD/JPY. Traders and investors should closely monitor these key drivers as they make their trading decisions. As always, staying updated on central bank policies, economic data, and technical signals will be crucial in navigating the USD/JPY price action during this period. Key SEO keywords: USD/JPY forecast, bullish bias, USD/JPY key drivers, US dollar strength, Bank of Japan policy, interest rate differential, USD/JPY technical analysis.
Long
by PERFECT_MFG
DXY hit the 1W MA200 for the 1st time in 8 months! Will it hold?The U.S. Dollar index (DXY) following the Fed's -0.50% Rate Cut, hit on Wednesday its 1W MA200 (orange trend-line) for the first time in 8 months (since the week of January 10 2024). This is obviously the strongest Support on a long-term basis and technically should attract the first wave of buying pressure. However, the multi-year pattern, being a Channel Up, suggests that given some more weeks it should break and go for a Higher Low (blue Arc). As you can see on this pattern, every time the 1W MA200 was tested during a Bearish Leg, it broke. The last two Bearish Legs initially made a dead-cat-bounce and then priced the Low just above the 1.236 Fibonacci extension. The 1W RSI in particular provides very useful insight on this, as on the first oversold (below 30.00) Low it makes the bounce and then on the second RSI low, which is a Higher Low i.e. a Bullish Divergence, the price bottoms and rebounds long-term. As a result, with the 1W RSI bouncing on the 30.00 oversold barrier, we expect the price to rebound for a few weeks and then resume the downtrend towards the 1.236 and the bottom of the multi-year Channel Up. Our 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
USDNOK Very strong buy signal medium-term.The USDNOK has been consistently giving us excellent signals on this 2-year pattern with the last one (July 10, see chart below) being a buy that hit the 11.0000 Target: This time the pair is again inside the 2-year Higher Lows Zone, while holding Support 1. The previous High was rejected on Resistance 1, so the Triangle may be transitioning into a Rectangle medium-term. In any case, this low price is a buy opportunity with our Target being slightly below the Lower Highs trend-line at 10.9500. ------------------------------------------------------------------------------- ** 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