Buy XAUUSD (Gold) Bullish FlagThe XAU/USD pair on the M30 timeframe presents a potential Buying opportunity due to a recent downward breakout from a well-defined Bullish Flag pattern. This suggests a shift in momentum towards the Upside in the coming Hours.
Key Points:
Buy Entry: Consider entering a Long position around the current price of 2660, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 2681
2nd Support – 2696
Stop-Loss: To manage risk, place a stop-loss order below 2648. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you.
Best Regards, KABHI FOREX TRADING
Thank you.
USD
DXY - MidtermThe FED surprised the markets with a 0.50 point preemptive rate cut. We expect this preemptive cut to cause a downward movement in the dollar index. However, we do not foresee a long-term downtrend. While the FED started the process with a larger-than-expected cut, other central banks had already begun their rate-cutting cycles much earlier. Therefore, after a brief decline, we expect the dollar index to stabilize and rise again.
Technically, the first of our two major support levels, 100.6, has been broken. We now expect the decline to continue towards the second major support zone between 99.4 and 99.75. The double-top technical formation on short-term charts also supports the downward momentum. If the price finds support in the 99.4 - 99.75 range, we could see a rise towards the 102.2 - 103 area.
As for the impact on other dollar pairs, we expect to see upward movements in XxxUsd pairs and downward movements in UsdXxx pairs.
Potential bullish bounce?NZD/USD is falling towards the support level which is an overlap support that aligns with the 50% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 0.6235
Why we like it:
There is an overlap support level that aligns with the 50% Fibonacci retracement.
Stop loss: 0.6183
Why we like it:
There is a pullback support level.
Take profit: 0.6298
Why we like it:
There is a pullback resistance level that aligns with the 50% Fibonacci retracement.
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Bearish reversal off 61.8% Fibonacci resistance?AUD/USD is rising towards the resistance level which is a pullback resistance that aligns with the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 0.6867
Why we like it:
There is a pullback resistance level that aligns with the 61.8% Fibonacci retracement.
Stop loss: 0.6909
Why we like it:
There is a pullback resistance level.
Take profit: 0.6795
Why we like it:
There is an overlap support level that aligns with the 38.2% 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.
Overlap support ahead for the Cable?The price is falling towards the support level which is an overlap support that aligns with the 38.2% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 1.3266
Why we like it:
There is an overlap support level that aligns with the 38.2% Fibonacci retracement.
Stop loss: 1.3211
Why we like it:
There is a pullback support level that aligns with the 50% Fibonacci retracement.
Take profit: 1.3424
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.
Bearish reversal off pullback resistance?USD/CAD is rising towards the resistance level which is a pullback resistance and could reverse from this level to our take profit.
Entry: 1.3493
Why we like it:
There is a pullback resistance level.
Stop loss: 1.3547
Why we like it:
There is an overlap resistance level that is slightly above the 50% Fibonacci retracement.
Take profit: 1.3421
Why we like it:
There is a pullback support.
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.
Kiwibank Lowers Kiwi ForecastThe New Zealand dollar (NZD/USD) has slipped below its 25-day exponential moving average (EMA) and could potentially test the 50-day EMA next. But, can sellers maintain the momentum and push further into bearish territory?
Kiwibank is betting on more downside due to faster and deeper rate cuts from the Reserve Bank of New Zealand (RBNZ). However, their initial bearish outlook has softened somewhat.
"In our previous FX Tactical, we anticipated the Kiwi heading towards the 0.5700 mark. But given its reluctance to trade down to that level, we've adjusted our expectations. While we still believe the Kiwi should be lower, it's clear the 0.5700 target is less likely. At this point, 0.5900 seems a more reasonable level," the bank stated.
Further complicating the outlook is China’s influence. Like the Australian dollar, the Kiwi can find support from economic developments in China. Talks of a potential stimulus package from Beijing had initially buoyed market sentiment, but UBS remains unimpressed. The investment bank noted that the scale of China's recent measures falls short of previous stimulus efforts, which historically triggered strong market rallies. Economists cited by The Wall Street Journal share this view, pointing out that borrowing costs are already low, yet demand for credit remains sluggish. Consumer confidence, dragged down by concerns over jobs and the ongoing property market meltdown, remains near historic lows.
Gold 1HR Intra-Day Chart 26.09.2024Gold started dropping today from my highlighted resistance zone. So far running 70 PIPS in profit! I think the following will happen;
Option 1: Gold will carry on dropping towards $2,640 - $2,630 before buyers come in again and push towards a new ATH.
Option 2: Gold carries on dropping lower towards $2,590.
NZDUSD catching a falling knife at market price?NZDUSD - 24h expiry
The trend of higher lows is located at 0.6120.
A lower correction is expected.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.6300 will confirm the bullish momentum.
We look to Buy at 0.6260 (stop at 0.6220)
Our profit targets will be 0.6340 and 0.6350
Resistance: 0.6300 / 0.6325 / 0.6350
Support: 0.6275 / 0.6260 / 0.6250
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
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Update idea
EURUSD Bearish Divergence calling for sell.EURUSD has so far double topped on the Resistance A level.
At the same time the 1day RSI is on Lower Highs, which is a Bearish Divergence.
The last Bearish Divergence was on the December 28th 2023 high with the rejection that followed extending all the way to the 0.618 Fibonacci level.
We expect a similar sell off, targeting 1.07700 (Fib 0.618).
Previous chart:
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GOLD SHORT OVERVIEW (4H TF)Gold on the bigger TF has completed its mid term bullish cycle. Even though we are still bullish in the Gold Fund long term, for the time being we are expecting a huge correction.
I think Wave V is close to completion, meaning we’re waiting on the following according to my EW strategy👇🏻
1. Wave IV correction & Wave V completion on smaller 1H TF.
2. Huge sell off on 4H TF, to confirm bearish structure.
Gold 1HR Intra-Day Chart 25.09.2024Gold is still creating a very overextended & complex Wave III. Market structure is still valid. All this means is Wave 5 will end higher than we originally expected.
Still waiting for some form of Wave 4 (3 Sub Wave) correction to the downside. This'll give a better indication on where Gold will find its top with Wave 5.
I am currently selling Gold. Targeting $2,640 - $2,630 as Wave 4 correction.
GOLD BULLISH TO $2,604 - $2,630 (1H UPDATE)Gold is still creating a very overextended & complex Wave III. Market structure is still valid. All this means is Wave 5 will end higher than we originally expected.
Still waiting for some form of Wave 4 (3 Sub Wave) correction to the downside. This'll give a better indication on where Gold will find its top with Wave 5.
BITCOIN BULLISH TO $77,000 (UPDATE)Every time BTC prices to jump up, you can see sellers come back in & knock the price back down in its current range. This adds stronger confirmation for me that price will drop soon towards our grey 'supply zone'. Patiently waiting.
Once price taps in and ONLY if I see a clear 3 Sub-Wave (A,B,C) move, I will look to open buy positions.
USDJPY Excellent multi-month buy opportunity here.The USDJPY pair has formed the bottom we expected on our last idea (August 22, see chart below) and seems to be finally giving us the long-term buy opportunity we wanted:
The RSI has already formed a reversal pattern similar to the January 16 2023 bottom and the confirmation will come when the 1W MACD forms a Bullish Cross, a formation we only got twice in the past year and was a confirmed buy signal.
Our Target remains 161.800, the symmetrical Resistance 1 level, similar to where the November 13 2023 High was priced.
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Bearish drop off pullback resistance?WTI oil (XTI/USD) has reacted off the pivot and could drop to the 38.2% Fibonacci support.
Pivot: 72.56
1st Support: 70.33
1st Resistance: 74.76
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 reversal off multi-swing high resistance?The Aussie (AUD/USD) is reacting off the pivot which acts as a multi-swing high resistance and could drop to the 1st support which is a pullback support.
Pivot: 0.6897
1st Support: 0.6797
1st Resistance: 0.6988
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?USD/JPY is rising towards the pivot which has been identified as an overlap resistance and could reverse to the 1st support which acts as an overlap support.
Pivot: 143.51
1st Support: 141.69
1st Resistance: 145.08
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?USD/CHF is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance level which acts as a pullback resistance that aligns with the 38.2% Fibonacci retracement.
Pivot: 0.8405
1st Support: 0.8356
1st Resistance: 0.8459
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.