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USDJPY Wave Analysis 6 November 2024 - USDJPY broke resistance area - Likely to rise to resistance level 156.00 USDJPY currency pair today broke the resistance area located between the resistance level 153.25 (which reversed the pair twice at the end of October) and the 61.8% Fibonacci correction of the sharp downward impulse from the start of July. The breakout of this resistance area is likely to further increase the bullish pressure on this currency pair. Given the strongly bullish US dollar sentiment that can be seen across the FX markets today, USDJPY currency pair can be expected to rise further to the next resistance level 156.00, former minor support from July.
Long
by FxProGlobal
EUR/USD: PAT + VPA 10/21/2024Good morning, I will be monitoring the daily candle close today, anticipating a bullish pullback or reversal to develop over the next few weeks. Several indicators have pointed to this: 1. The weekly chart has surpassed the previous high established on December 25, 2023. Currently, the price is attempting to retest the Demand zone that led to the breakout of that high.. 2. The weekly demand zone is identified between 1.0775 and 1.0825. Pay attention to the key level at 1.080, as it appears to be setting up as a robust support level for the currency pair. 3. The market has declined approximately 400 points since September 27, 2024, showing minimal pullbacks on a daily basis. Notably, this price drop has formed a double top without a genuine next line test. I anticipate that prices will rebound to around 1.100 in the coming weeks. A break below 1.100 could trigger a long-term retracement back to the highs at 1.200. Volume signature indicates that market makers are gradually exiting the trend. The weekly outlook remains bullish and is expected to dominate. It's important to note that the weekly chart is currently retesting the bearish flag it broke out of between June 24, 2024, and August 19, 2024. TVC:DXY OANDA:EURUSD XETR:DAX
Long
by ThePipAssassin
16
Trade 3: GBP/USD - Short - 6.3 RR RatioLonger Time Frame Analysis - 1hr 1. Clear bearish sentiment Shorter Time Frame Analysis - 15min 1. AMD price action 2. Head & Shoulder Pattern Shorter Time Frame Analysis - 5min 1. Shorter EMA cross under Longer EMA at the bearish triangle breakout Entry: 1. BOS - Head & Shoulders 2. Shorter EMA cross under Longer EMA 3. The candle next to breakout bearish candle closed below the price of breakout candle Target: Using Support & Resistance of Price Action T1: 1.28457 SL: Above breakout base of head & shoulders pattern *Please let me knows your views and thoughts, they will remind me there's more to learn*
Short
by MyWayofLookingThings
EURUSD SHORT SETUP Smart Money Play for EURUSD The goal is to wait for a pullback to resistance within this bearish trend, then position for a continuation downwards. Here’s a structured approach: 1. Look for a Pullback to Resistance: • Since price is in a previous consolidation range, watch for a pullback to a level of resistance, possibly near the upper bounds of this range. For instance, look at levels like a daily moving average (20 or 50 SMA) or a high-volume node in the volume profile, which could act as strong resistance. • Use the 4-hour Ichimoku Conversion Line or Base Line as a short-term resistance level. If price approaches but stays below these levels, it may signal a solid area to enter short. 2. Volume Confirmation: • During the pullback, if volume remains low or the Chaikin Oscillator stays negative, it would signal that the buying pressure is weak, making a continuation downwards more likely. • Look for the CMF and ADL to remain bearish, as confirmation that the broader selling pressure is intact. 3. Wait for a Clear Reversal Signal on the Lower Timeframe (4-Hour or 1-Hour): • Use the 4-hour chart to refine your entry. Wait for the RSI to re-enter bearish territory and for MACD to regain momentum on the downside. • Alternatively, a bearish Supertrend signal or a breakdown below the 4-hour Ichimoku Conversion Line after a weak pullback can serve as an entry trigger. 4. Downside Targets: • Set initial targets at recent lows within the consolidation range, as well as potential Fibonacci extension levels for the swing down. • If the daily downtrend continues to accelerate, you may consider trailing stops to capture a larger movement as long as price remains below the daily Ichimoku cloud. Summary of Smart Money Play 1. Trend Bias: Stay with the trend (bearish). 2. Setup: Wait for a pullback to resistance within the bearish trend, ideally near a moving average or high-volume node. 3. Entry Trigger: Confirm selling pressure resumes on the 4-hour or 1-hour chart. 4. Risk Management: Use recent highs or a level above the resistance as a stop, and target lower lows, with the option to trail the stop as long as bearish indicators align.
Short
by Shivsaransh1
Euro collapses in US election aftermath | FX ResearchThe US dollar is making significant moves today, soaring higher following a surprising victory for Donald Trump. The dollar has reached its strongest level in a year, making notable gains against the euro and yen. Risk-correlated assets have sold off, but the dollar is benefiting from a positive reaction in US equities, with futures pushing to fresh record highs. The "Trump trade"—driven by expectations of tariffs and tax cuts—is lifting both the dollar and stocks. The market will likely take the rest of the day to digest what has been a surprising result for many. Predictive market platforms are gaining more credibility today, having forecasted a clear Trump victory for several weeks. On the data front, euro area figures came in slightly stronger than expected, but this had little impact on the euro, as concerns over Trump’s tariffs weigh on sentiment. UK PMIs were slightly softer, while earlier today, New Zealand's employment data missed expectations. In other markets, Bitcoin hit a fresh record high and could be on track to accelerate towards the $100,000 mark. After months of consolidation, Bitcoin’s gains have been somewhat tempered by the surge in dollar strength. However, we suspect that as the dollar slows down—either due to technical overextension or a shift in focus toward expectations of more rate cuts from the Fed—Bitcoin and crypto assets could accelerate to the upside. Looking ahead, we have an ECB speech from Christine Lagarde and Canada’s Ivey PMI data on the docket. Exclusive FX research from LMAX Group Market Strategist, Joel Kruger
by BlackBull_Markets
USDJPY - Analysis My main trading principle is that the price always moves from swept liquidity levels to untouched liquidity levels. In particular case we clearly can see the following context: price swept 1D key liquidity level and left untouched level lower. But to take more statistically more probable trades we should wait for some time of lower timeframe confirmation. For me the best way to confirm higher timeframe context is structure. We can notice the break of market structure (sign of weakness) on key liquidity level, so there is a higher probability to see price lower at least on opposite level (marked lower). Your success is determined solely by your ability to consistently follow the same principles.
Short
by Maks_Klimenko
BUY!!! GBPJPY HAS REACHED A WEEKLY INTEREST ZONEHELLO TRADERS I AM VERY INTERESTED IN BUYING THIS GBPJPY PAIR FOR THE NEXT SESSIONS LONDON AND NEW YORK FOLLOW MY ENTRY SIGNAL EVERYTHING POINTS TO THE PRICE GOING UP. TECHNICAL ANALYSIS CONFLUENCES AT THE MOMENT 1.- bullish weekly time frame 2.- bullish daily time frame 3.- rejection of the last weekly structure point 4.- rejection of weekly interest zone 5.- psychological number rejection 6.- weekly rejection candle 7.- rejection of the last daily structure point 6.- rejection of daily interest zone 8.- daily rejection candle 9.- rejection candle 4 Hr 10.- 1 Hr enveloping candle, 2 Hr enveloping candle why do I like it? The weekly and daily time frame are bullish, that is, they are in harmony, which indicates that the bullish trend has not yet ended. On the weekly time frame there are 2 weekly rejection candles. In turn, both candles being rejected in a weekly interest zone retesting above the weekly high. The psychological number 196,500 has been tested perfectly which has attracted buyers at this strong level. The price has been rejected at the highest high of the daily time frame, with a daily rejection candle. The price is being rejected in a daily interest zone that has been rejected repeatedly in the past. We have a very strong indecision candle in our area of ​​interest in the 4 Hr time frame which tells me of a change in the direction of the price towards the upside. And as the last confluence the structure in the 30 minute time frame has been broken. In all this, the only more reasonable thing is to look for purchases since the time frames are going up. If you liked my analysis, don't forget to follow me and like it, I will respond to comments and suggestions. Wait for new updates blessings and luck!!!
Long
by FxAlexisTrader
GBPJPY ANALYSISHere is our overall view on GBPJPY . After GBPJPY has made a pullback down to our PBA 1 (Pullback Area) , we are seeing more upside on the chart. At this moment we are still extremely bullish on GBPJPY. We are anticipating buys if we break above 199.180 . On the other hand, if we break 197.540 we could go back to our PBA 1 and if we break below, we could see even lower lows . As of now there is no clear indication for buys or sells. We are only entering in the trades if following has happened: Scenario 1 : breaks above 199.180 Scenario 2 : breaks below 197.540 We will be patiently waiting on breaks of our mentioned levels and we will post an update accordingly. KEY NOTES - GBPJPY has made a pullback to our PBA 1. - Break below 197.540 would confirm sells down to our PBA 1 around (195.800). - Break above our KL (199.180) would result in higher highs and confirm buys. - No trade opportunity now, breaks should be waited on. Happy trading! FxPocket
by FxPocket
Eurusd Monthly possible escenarioI think that Eurusd made a strong expanding diagonal since 1970 to 2008. ( rare but not impossible ) This diagonal was made only of corrective waves. Then , 2008 crisis began. Eurusd start it's bearish trend as what it seems also a Diagonal, but this time contractive ( wave A ) It seems to me that we are in the pullback of a shoulder head shoulder created from 2015 to 2022, and we haven't broke Bollinger upper band yet. Volume also confirms the breakout and bearish divergence usual in waves 5. We haven't reach 61.8 % fibo yet, and we hace strong liquidity in that area. Is Eurusd ready to crash? Let's see....
Short
by Alecampos83