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GBPJPY accurate analysis professional strategyThe GBP/JPY pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours. Possible Long Trade: Entry: Consider Entering A Long Position Above The Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 197.44 Target Levels: 1st Resistance – 199.20 2nd Resistance – 200.20
by Angela-Lilly
USD/CAD 4-Hour Forecast: Short Position Setup🔻 **USD/CAD 4-Hour Forecast: Short Position Setup** 📉 USD/CAD is currently trading at **1.38887**, with a potential move down to our target of **1.35251**. Here are the key resistance and support levels we’re tracking as this short position unfolds: 🔍 **Key Levels to Watch:** - **Primary Resistances:** 1.39587, 1.39309 - **Intermediate Supports:** 1.38237, 1.37647, 1.37154, 1.36888, 1.36610, 1.36248, 1.36094, 1.35641 - **Bearish Target:** 1.35251 💡 **Trading Insight:** Each support level may act as a confirmation for this downtrend if broken. Watching for strong moves at these points will be key. 👉 What’s your view on USD/CAD? Let’s discuss in the comments! #USDCAD #ForexTrading #4HChart #ShortPosition #PricePrediction #Pipnest
Short
by pipnest
EURUSD: Short term analysis for 07/11/2024 This is my personal opinion and is intended for educational purposes only. Please consult your financial advisor before making any decisions. Time Frame: 1-hour The 1-hour EURUSD chart exhibits bearish trend, with the volume decreasing and the price moving below 200 SMA. 45 min chart exhibits bearish a divergence indicating a potential reversal. Key Levels: Order Block (Lower Target): 1.064-1.053 Resistance: 1.081-1.084.00 Immediate Support: 1.068.00 Trading Bias: It may test upper resistance at 1.084 and get rejected. A breach of lower trend channel may trigger a corrective decline to 105.00 and potentially reach the Lower Target (Order Block) at 1.064-1.058
by avatarfreak
NZDJPY to breakdown?NZDJPY - 24h expiry Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. We are trading at overbought extremes. Bearish divergence is expected to cap gains. A lower correction is expected. We look to Sell a break of 92.10. We look to Sell a break of 92.10 (stop at 92.50) Our profit targets will be 91.10 and 90.85 Resistance: 92.50 / 92.80 / 93.20 Support: 92.00 / 91.60 / 90.90 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. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
#AUDJPY 4HAUDJPY 4-Hour Analysis The AUDJPY pair is currently trading near the upper boundary of a channel on the 4-hour chart, where it faces strong resistance. This channel resistance suggests potential downward pressure, creating a possible sell setup. However, it’s best to wait for price confirmation before entering a short position. Technical Outlook: - Pattern: Channel Resistance - Forecast: Bearish (Sell Opportunity upon Confirmation) - Entry Strategy: Wait for confirmation of price reversal near the resistance area Traders may consider a sell entry if the price shows rejection or reversal patterns at the channel resistance. Confirmation from indicators like RSI indicating overbought conditions or MACD showing bearish divergence can strengthen the signal and add confidence to this setup.
Short
by PIPSFIGHTER
Will USDCHF reverse its course due to the new SNB's prospect?Macro theme: - Swiss inflation unexpectedly slowed to 0.6% in Oct—the lowest in over three years—raising expectations that the SNB may opt for a more significant 0.5% rate cut in Dec to keep inflation within its 0-2% target range. - Meanwhile, the Federal Reserve cut interest rates by 0.25% but issued a slightly more hawkish statement. Technical theme: - USDCHF broke the descending channel after testing both EMAs, which just golden crossed each other, indicating a bullish momentum exists. - USDCHF may retest the broken descending trendline, confluence with the support level around 0.8693-0.8700 before resuming its upward movement to retest 0.8825. - On the contrary, a closing below 08626 may prompt a deeper correction to a nearby support around 0.8550. Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
Long
by DatTong
GBP/JPY Analysis: Shorterm BuyThe GBP/JPY pair currently shows a retracement from recent highs, and we can observe key levels of support and resistance based on Fibonacci retracement levels and trend lines. Trendline Support: A rising trendline from previous lows suggests continued bullish momentum as long as the price respects this trendline. The recent test of this trendline indicates a possible continuation to the upside if buyers maintain control. Fibonacci Retracement Levels: Key retracement levels are marked: The 23.6% retracement near 198.97 serves as the first potential resistance area. A break above this level could lead the price towards the next resistance. 38.2% (198.61) and 50% (198.33) levels provide additional zones where the price might face resistance before potentially moving higher. Key Support Levels: The 198.00 level acts as a psychological and technical support, with further support down to 197.50. If the price breaks below these support levels, it may signal a reversal or deeper correction. Potential Scenarios: Bullish Scenario: If the price respects the trendline and moves above 198.97, we might see an attempt to test the recent highs around 199.50 - 199.70. Bearish Scenario: Failure to hold above the trendline and a breakdown below 197.50 could initiate a deeper pullback, possibly targeting support levels around 196.50 or lower. Conclusion: The bias remains bullish as long as the trendline support holds. However, key resistance levels around 198.97 - 199.50 need to be watched closely, as they could signal either a breakout to new highs or a potential reversal if selling pressure intensifies.
Long
by AEL_Education
Bearish drop?AUD/CAD is falling towards the pivot which acts as a pullback support and could bounce to the 1st resistance which has been identified as a pullback resistance. Pivot: 0.919899 1st Support: 0.91503 1st Resistance: 0.92627 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.
Short
by ICmarkets
EURAUD Buy Mean Reversion TradingPrice is overextended and I am entering a Buy market. Stochastics 20,1,1 shows extreme overselling. I think that trading is a logic game. You cannot go against the grain, otherwise you will realise very quickly that you will have a tough time cutting the meat. As my previous entry on TradingView, I also entered on a mean reversion trade and I am just testing things out. If this particular market sells fish, don't come in with vegetable and expect to get accepted or even have anything sold. And also, understand who the people that come to this particular market operate as. Are they housewives coming to buy only a meal or two's worth of groceries? Or are they businesses that buy and sell to those housewives at their respective markets? Know your role, and choose your role. However, you also must have the capital to start the business you choose to do. If you wanna be the one selling to the businesses who supplies the fishes to housewives, you better have the money and knowledge to get yourself a spot at the b2b fish market. Otherwise, you can be a scalper who goes to the b2b market and buys fish and sell them to housewives. You can't be greedy though, because fishes expire fast. If you are too greedy, you will realise that you have a bunch of rotten fishes which you could at least have suntanned them to make salted fish before they rot.
Long
by ProfessionalDuckHunter
EURUSD’s Decline Pauses, Testing Key LevelsEURUSD has temporarily halted its heavy downward momentum as Thursday’s session begins, stabilizing around 1.073 and confirming a new low. Currently, a recovery is underway to adjust the trend and test the EMA 34 and 89 lines, aligning with the Fibonacci levels at 0.5 - 0.618. Despite this pullback, strong selling pressure remains due to the USD gaining an advantage as it regains its footing in the market. Considering these technical factors, I still favor a sell strategy. What about you?
by Chipucu