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USD/CAD:Dynamics Ahead of the US Election BOC DecisionsDynamics Ahead of the US Election and Bank of Canada Rate Decisions As the United States approaches its pivotal presidential election, the US Dollar (USD) is experiencing downward pressure. This uncertainty is impacting the broader market sentiment, leading traders to adopt a cautious stance. However, the upward trajectory of US Treasury yields may provide a buffer against further declines in the dollar’s value. Currently, the US Dollar Index (DXY), which gauges the dollar's strength against six major currencies, is trading around 103.80. At this moment, the yields on 2-year and 10-year US Treasury bonds stand at 4.17% and 4.30%, respectively, indicating investor confidence in longer-term government debt. Turning to Canada, the Bank of Canada (BoC) is gearing up for its final monetary policy meeting of the year in December, where a significant rate cut is widely anticipated. BoC Governor has signaled the possibility of a reduction by as much as 50 basis points (bps). This potential lowering of interest rates could influence the Canadian dollar's valuation and the overall economic landscape. From a technical perspective, the market shows signs of a bullish seasonal trend; however, the latest Commitment of Traders (COT) report suggests the potential for a price drop, particularly in alignment with identified supply zones. As we navigate through these evolving conditions, the outcome of the US election will likely have profound implications for currency movements and economic policies in the coming days. Traders will need to stay vigilant as these developments unfold, shaping market dynamics in both the US and Canada. ✅ Please share your thoughts about USD/CAD 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.
Short
by FOREXN1
3
AUD/USD Ready To Go Up Hard 200 Pips At Least , Ready ?We have a very good 4H Closure Above our res , and it will be great if we have a daily closure today above this res , we can wait the price to go back to re test the broken res and see how it will handle with . i think after this big movement to downside we need some movement to upside as a correction , so i`m looking to buy this pair with daily retest to the broken res and i will target 200 pips . This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
Long
by FX_Elite_Club
1
USDCHF Analysis Today: Technical and Order Flow Analysis !In this video I will be sharing my USDCHF analysis today, by providing my complete technical and order flow analysis, so you can watch it to possibly improve your forex trading skillset. The video is structured in 3 parts, first I will be performing my complete technical analysis, then I will be moving to the COT data analysis, so how the big payers in market are moving their orders, and to do this I will be using my customized proprietary software and then I will be putting together these two different types of analysis.
by Transparent_Fx_Analysis
GBPUSD 4H longThis setup was not interesting for me last week but this week it is. The trend reached a weak and small demand zone so that's not interesting. But given all the price action for the last 2 weeks arround this level it makes it a stronger support level. Especially the strong bear candle so people ( including me ) think this will go bearish. Then suddenly it goes bullish, this is how allot of people loose money and that is what "they" need to move the markets. Entry trigger was because the price was bought up above the "weak" support line. Then we see some small indecision candles and after that another medium strong bull candle. That is a bullish sign for me so I entered :) There is off course US elections so high impact news but I will take that risk. The setup looks solid.
Long
by FX-Diaries
USD/CAD Analysis: Potential Reversal at Key ResistanceUSD/CAD has been in a long-term uptrend, recently approaching a critical resistance zone. Price action suggests a potential shift from bullish to bearish due to the formation of a harmonic pattern that implies a possible corrective move. However, given the strength of the current uptrend, any pullback could be temporary, presenting future buying opportunities around key support levels. Technical Indicators TDI Divergence: Multiple bearish divergences on the TDI indicator highlight potential weakening in upward momentum, reinforcing the possibility of a short-term correction. Moving Averages: The MAs are positively sloped, supporting the medium- to long-term uptrend, but price has moved significantly away from them, suggesting a higher probability of a near-term pullback. Trade Strategy: Sell at Resistance Entry: 1.391 zone Stop Loss (SL): 1.4000 Take Profit (TP): 1.36970 Risk-Reward Ratio: 1:2.5 Rationale: The proximity to key resistance, combined with bearish divergences, supports a potential corrective move. USD/CAD displays mixed signals of continuation and correction. Short-term indicators suggest a weakening, but the long-term uptrend remains intact. The most robust strategy here is a sell at resistance, backed by harmonic patterns and divergence signals. After a potential pullback, buying on corrections could be advantageous if the price resumes its uptrend. Monitoring technical developments and price action on lower timeframes is essential for timing entries. Disclaimer: The information provided does not constitute investment advice.
Short
by MrVNpt
GBPUSD technical bearish, eye on BoE MPCMarket expectations for the November 7 meeting The Bank of England's (BoE) Monetary Policy Committee (MPC) will meet this Thursday, with 90% of market participants expecting interest rates to be cut by 25 basis points from 5% to 4, 75%. This follows the central bank's first interest rate cut of 2024, which took place at the meeting ending on July 31, 2024. At this meeting, the MPC voted with a majority to reduce the Interest Rate Bank interest rate 0.25%, down to 5%. Key economic indicators influence decisions Recent data paint a complicated picture for BoE decision-makers. The current inflation index of 1.7% is lower than the bank's 2% target, so is no longer an immediate concern for the BoE. According to the Office for National Statistics, the UK unemployment rate (for those aged 16 and over) is estimated to be 4.0% in June to August 2024 compared to 4.1% before there. From June to August 2024, average annual employee regular earnings growth (excluding bonuses) is 4.9% and the region's average annual regular earnings growth public sector was 5.2%, down 5.7% compared to the same period three months ago; for the private sector it is 4.8%. Global monetary policy context The US Federal Reserve (Fed) also meets this Thursday, with markets pricing a 25 basis point interest rate cut to 4.50%-4.75% with a probability of nearly 100%. This creates an interesting context for the BoE's decision as global central banks are increasingly shifting their focus from fighting inflation to supporting economic growth. Analyze technical prospects OANDA:GBPUSD On the daily chart, GPB/USD recovered from the lower edge of the price channel, however, the recovery was limited as the main trend of GBP/USD up to now is still a downtrend noticed by the channel. price. GBP/USD is also under pressure from the 0.236% Fibonacci retracement level, the 1.30042 horizontal resistance level and the EMA21 moving average. Even if GBP/USD manages to move above 1.30042, it still doesn't have much solid bullish conditions as there are other resistance levels above from 1.30448 and the confluence of the upper channel edge with the 0.382% Fibonacci. As long as GBP/USD remains below Ema21 and within the price channel it remains technically bearish, while the Relative Strength Index is also close to 50, the 50 level being considered resistance when RSI is below this level. During the day, the technical outlook for GBP/USD is bearish with the highlights listed below. Support: 1.29073 – 1.28448 Resistance: 1.29842 – 1.30042 – 1.30448 – 1.30705
by Xayah_trading
EUR/USD is increasing and expected to tend to be higherAdemha greets everyone, Currently, the EUR/USD exchange rate stands at around 1.089 USD per Euro. The outlook ahead leans towards a potential appreciation of the Euro, driven by several factors: Monetary Policy: Although the U.S. Federal Reserve (Fed) maintains a tightening stance, there is anticipation that pressure to raise interest rates will gradually ease if inflation continues to cool. This could weaken the Dollar, allowing the Euro to recover. Eurozone Economy: If economic stimulus measures in Europe or improvements in the service and industrial sectors prove effective, the strength of the Euro could increase. Forecast: The Euro is likely to rise if economic conditions in the Eurozone improve or if the Fed adopts a more dovish policy by 2025, creating a favorable environment for the exchange rate to reach higher levels in the medium to long term.
by Ademha
EURUSD: Recovery in Sight Following Prolonged DowntrendThe EURUSD pair has shown signs of recovery after an extended downtrend, aligning with Dow Theory’s principles of reversion to the mean. Key market factors, including recent U.S. dollar weakness due to speculations around the Federal Reserve’s future rate decisions, have contributed to this upward movement. On the provided chart, EURUSD is bouncing back towards the 0.5 and 0.618 Fibonacci retracement levels, which correspond to the 1.09341 – 1.09875 range. These levels serve as immediate targets for a potential bullish retracement, indicating a zone where traders might look for resistance. This recovery aligns with technical indicators and could attract buying interest as long as the price sustains its position above the recent lows. Keep an eye on economic updates and Fed statements, as they could further influence this recovery phase.
Long
by Chipucu
2
EURUSD at Key Support – Bullish Rebound Ahead?Hello Ben's great friends! Currently, EURUSD is fluctuating about 1,0878 in the early morning session in Asia. The US dollar decreased slightly when traders prepare for the US presidential election and the possibility that the Federal Reserve cut interest rates, supporting some support for the main currency pair. Moreover, based on technical analysis, the price is approaching the strong support area (suitable for EMA 34.89). If this support level is maintained, it can act as a platform to increase prices. What do you think about this view? Let me know your ideas.
Long
by Bentradegold
3
USDCAD VOLATILITY TRADEOn the 12 months chart, price show an impulsive bearish move that took 6 years o complete. In tandem with price action, the bullish correction that is currently active has taken 14 years. Price is yet to contact a fresh long-term supply sitting at 1.544. On the monthly and weekly charts, the structure is still the same. Price is seeking to contact a short term fresh supply at 1.44. On the daily chart, price continues to form new highs. On the short term (daily), we are looking at a bearish price correction fueled by the US election volatility. Price is expected to correct towards the 1.35-1.32 range thereafter resuming the original long term bullish price correction.
by morrisgitau
Lingrid | GBPNZD fake BREAKOUT of the Previous DAY highFX:GBPNZD has reached a strong resistance zone on the daily timeframe, pulling back from the 2.18000 level. As observed, the price has been creating impulse legs followed by weaker pullbacks. Recently, the market formed a compression channel or an ascending triangle pattern. I anticipate bearish momentum potentially forming ABV pullback toward the support level, especially since the market made a fake breakout above the previous day's high. My goal is support zone around 2.15610 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
2