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AUDCAD LongThe Relative Strength Index (RSI) is showing bullish divergence, which indicates that while price has been making lower lows, the RSI is making higher lows. This signals a potential reversal to the upside as selling momentum weakens. AUDCAD has broken above a significant downward trendline, suggesting a shift in momentum from bearish to bullish. This is often a strong signal of a potential trend reversal. After breaking a trendline, price often retests the breakout level, giving traders an opportunity to enter the trade at a better price. Buying at this retest level allows for a more favorable entry with reduced risk
Long
by SohailChaudhary
USDJPY : Buy or Sell ? USDJPY is currently trading around 152.68, approaching a crucial support zone (highlighted in green). If this support holds, we could see a rebound towards the resistance level around 153.50 (marked in red). The chart suggests a potential bullish reversal from the support area, targeting the resistance as the next level of interest. A successful bounce could set up a bullish continuation, while a failure to hold above support might lead to further downside pressure.
Long
by Chipucu
1
GBPUSD SELL | Idea Trading AnalysisGBPJPY s moving to the upper boundary of the descending channel. The volatility of the movement has decreased. The price has reached the resistance level. Hello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity GBPUSD I still did my best and this is the most likely count for me at the moment. ------------------- 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 TheGrove
1
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
AUDUSD buying Trading IdeaHello Traders In This Chart AUDUSD HOURLY Forex Forecast By FOREX PLANET today AUDUSD analysis 👆 🟢This Chart includes_ (AUDUSD market update) 🟢What is The Next Opportunity onAUDCAD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Chart
Long
by ForexMasters2000
USDJPY Analysis: Potential Retracement Amid USD StrengthUSDJPY recently broke out of a descending channel and surged to 153.77, but is now showing signs of a potential pullback. The price action suggests a possible retracement towards the highlighted support zone around 153.20 - 152.50. This movement is also influenced by the recent strength of the USD, driven by positive economic data and Federal Reserve signals on potential rate hikes. If this support holds, we may see a bounce back towards the recent highs, offering a buying opportunity
by Chipucu
EUR/USD Daily AnalysisThe EUR/USD currency pair appears to be consolidating within a large, slightly narrowing symmetrical triangle pattern that has been forming over the past year. Key observations: 1.Support and Resistance: The pair recently tested support near the lower boundary of the triangle (around the 1.0700 area), which aligns with a long-term uptrend line, creating a potential zone of support. Resistance is seen at the upper boundary of the triangle, currently around the 1.1200 level, marking an area to watch for potential breakout attempts. 2.Volume Profile: The Volume Profile visible range highlights significant buying and selling interest around the 1.0799 to 1.0903 levels, suggesting this zone could act as a magnet for price action in the near term. 3.Key Levels: A break above the 1.0903 level could lead to a test of the next resistance at 1.1056. On the downside, if the pair falls below the recent swing low near 1.0700, it may open up further downside potential toward lower support zones around 1.0500. 4.Indicators: RSI is currently rebounding from oversold levels, indicating some bullish momentum in the short term. However, watch for a shift if RSI approaches the overbought territory. 5.Price Action: The recent bounce from support with increased volume may indicate renewed buying interest, but a breakout beyond the triangle boundaries will likely provide a clearer direction. This setup suggests that EUR/USD may see increased volatility as it approaches the apex of the triangle. Outlook: T raders should be cautious and watch for a confirmed breakout beyond the triangle's boundaries for clearer directional cues. Bulls will look for a breakout above 1.0903 to target higher levels, while bears may aim for support zones below 1.0700 in case of a downside break.
by AngshumanSaikia
EURCAD_101 2024.11.07 15:59:03 Trading Signal BUYFrankPro Signal for EURCAD_101 Type: Screen Signal: BUY TP: 1.50472 SL: 1.49793 Entry Price: 1.4989 Analysis for EURCAD Forecast Overall(Short-Term, Long-Term): ST= Probably Down LT= Strong Up Forecast Methods(Short-Term, Long-Term): ST=Down LT=Up ST=Down LT=Up ST=Up LT=Up Analysis Method(0) Based on the provided analysis, I will provide separate assessments for short-term and long-term expectations for the EUR/CAD currency pair. **Short-term (next few days to a week):** Given the recent reversal from the key resistance level of 1.5160 and the formation of a Dark Cloud Cover pattern, the pair is likely to fall to the next support level at 1.5100. The overbought daily Stochastic also supports this bearish outlook. However, if the pair breaks above 1.5172, it could confirm a continuation higher. Considering the uncertainty and the dual potential scenarios, I would say that the price is expected to **go down** in the short-term, but with a possibility of a breakout above 1.5172, which could change the direction. **Long-term (weeks to months):** The decisive breakout above the slanting roof of a multi-month price pattern and the bullish MACD momentum indicator support a long-term bullish outlook. If the price follows through higher, it could make a significant advance, targeting 1.5228 and then 1.5312. However, a bearish close could form a two-bar reversal pattern, indicating a temporary deeper correction. Considering the overall analysis, I would say that the price is expected to **go up** in the long-term, but with a possibility of temporary corrections. **Staying the same:** Given the current uncertainty and the dual potential scenarios, it's unlikely that the price will stay the same in the short-term or long-term. The analysis suggests that the pair will either break out above 1.5172 or fall to the next support level at 1.5100, and then potentially continue its move in the same direction. Result: ST=Down LT=Up Analysis Method(1) Based on the analysis, here are my conclusions: **Short-term (next few days/week):** * The breakout above the upper trendline of the pattern could be "false" and the pair might form a Double Top bearish reversal pattern. * The MACD momentum indicator has risen above the zero line, but a bearish close could form a two-bar reversal pattern, indicating a potential short-term correction. * Some analyses suggest that the pair holds negative signals from both short and long-term Moving Averages, indicating a more negative forecast in the short term. * Therefore, I expect the price to **go down** in the short term, potentially breaking below 1.5101 and targeting 1.5051. **Long-term (next few weeks/months):** * The EUR/CAD has decisively broken out of a multi-month price pattern, which is a bullish sign. * A break above 1.5172 could confirm a continuation higher, targeting 1.5228 and potentially reaching 1.5312. * The pair has rebounded from range support, forming a strong bullish engulfing candle on the daily chart, suggesting a promising outlook for continued upward movement. * Therefore, I expect the price to **go up** in the long term, potentially reaching the targets mentioned above. Please note that these are just predictions based on the analysis, and the actual market behavior may differ. Result: ST=Down LT=Up Analysis Method(2) Based on the analysis provided, here is my assessment of the EUR/CAD currency pair's potential price movement: **Short-term analysis (next few days to a week):** * The recent breakout above 1.5172 and the bullish engulfing candle on the daily chart suggest a potential uptrend. * The MACD momentum indicator rising above the zero line also supports a bullish outlook. * However, there is a risk of a "false" breakout, and if the price breaks below 1.5101, it could lead to a move down to 1.5051. * Given the recent breakout and bullish indicators, I expect the price to **go up** in the short term, with a target around 1.5200. **Long-term analysis (next few weeks to a month):** * The EUR/CAD pair has broken out of a multi-month consolidation pattern, which could lead to a sustained uptrend. * The Fibonacci price projections suggest potential targets at 1.5228 and 1.5312, which could be reached in the long term. * However, the alternative scenario of a Double Top bearish reversal pattern cannot be ruled out, and a break below 1.5101 could lead to a move down. * Considering the breakout and the bullish indicators, I expect the price to **go up** in the long term, with a potential target around 1.5312. **Staying the same:** * The current trading range of $1.48 and $1.51, with support at $1.46 and resistance at levels such as $1.47 and $1.48, suggests that the price could remain range-bound if it fails to break out of this range. * However, given the recent breakout and bullish indicators, I do not expect the price to **stay the same** in the short or long term. Overall, my analysis suggests that the EUR/CAD pair is likely to go up in both the short and long term, with a potential target around 1.5200 in the short term and 1.5312 in the long term. Result: ST=Up LT=Up
Long
by orbborisson
NZDUSD Daily Outlook: Bullish Bias Expected Amid Key FundamentalNZDUSD Daily Outlook: Bullish Bias Expected Amid Key Fundamental Drivers (07/11/2024) Overview On 7th November 2024, NZDUSD is showing signs of a slight bullish bias, driven by key economic data releases and broader market sentiment. This article provides an in-depth look at the factors shaping NZDUSD today, including central bank commentary, global market trends, and recent shifts in risk sentiment. Keywords: NZDUSD forecast, New Zealand dollar, forex trading, USD, economic data, central bank policy, risk sentiment, technical analysis, forex market --- Key Factors Supporting NZDUSD Bullish Bias Today 1. Federal Reserve Dovish Outlook Recent Federal Reserve statements have taken a slightly dovish tone, with policymakers emphasizing a "wait-and-see" approach to further rate hikes. The possibility of a Fed pause on interest rates provides support to the New Zealand dollar, as market sentiment leans towards a softer USD. 2. RBNZ’s Hawkish Stance on Interest Rates The Reserve Bank of New Zealand (RBNZ) recently signaled a focus on inflation control, reinforcing a hawkish stance relative to the Fed. This contrasts with other central banks, positioning NZD as an attractive currency in the current global environment. Markets are pricing in a limited chance of a rate hike from the RBNZ in the near term, which could further support NZD. 3. Improved Risk Sentiment Global markets have seen an increase in risk appetite, with equities rebounding and commodities trading higher. This shift often benefits the NZD due to its reputation as a commodity-linked and high-yield currency. As investors seek yield, demand for the New Zealand dollar may rise, enhancing NZDUSD. 4. Strong New Zealand Economic Data New Zealand’s recent economic data, including employment figures and business confidence, indicate resilience in the economy. Solid domestic growth and low unemployment rates suggest underlying strength, which could further boost NZD demand against USD. 5. Technical Analysis Indicators From a technical standpoint, NZDUSD is approaching key support levels around 0.5900, showing upward momentum and signaling a potential reversal. RSI (Relative Strength Index) levels indicate that the pair may have room to move higher before hitting overbought territory, aligning with a bullish outlook. NZDUSD Today: What to Watch For - US Initial Jobless Claims – Scheduled later today, these figures may influence USD if they show a labor market slowdown, potentially adding to the Fed’s dovish stance and supporting NZDUSD. - NZDUSD’s Resistance Levels – Key resistance near 0.6050 could be tested if bullish momentum continues, while support at 0.5900 could offer a base. Conclusion Given the softer stance from the Federal Reserve and favorable economic data from New Zealand, NZDUSD shows signs of a slight bullish bias. As always, forex traders should monitor any significant data releases closely, as these could prompt volatility in NZDUSD. SEO Tags: #NZDUSDforecast #ForexTrading #NewZealandDollar #USD #NZDUSDtechnicalanalysis #ForexMarket #RiskSentiment #CentralBankPolicy #DailyForexAnalysis
Long
by PERFECT_MFG
GBP/AUD H1 | Bearish momentum to accelerate?GBP/AUD has broken below an overlap support and the bearish momentum could potentially cause the price to drop lower. Sell entry is at MARKET. Stop loss is at 1.9560 which is a level that sits above a pullback resistance. Take profit is at 1.9447 which is a swing-low support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
USD/CAD H4 | Falling to swing-low supportUSD/CAD is falling towards a swing-low support and could potentially bounce off this level to climb higher. Buy entry is at 1.3823 which is a swing-low support that aligns with the 23.6% Fibonacci retracement level. Stop loss is at 1.3745 which is a level that lies underneath a swing-low support and the 38.2% Fibonacci retracement level. Take profit is at 1.3943 which is a multi-swing-high resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
Price can drop down to 1.378 , but..theres is FOMC meeting tonigh, the cut is expected so lets see how it will affect the price. There can be some short term spike up, but I think Dollar needs pullback You are very welcome to comment with your thoughts, share your charts or questions about COT or how I came to this setup. Just comment below, I like any constructive discussion. If we get the confirmation, I will be looking to position myself with my students and followers as highlighted on the chart. Accumulation / Manipulation / Distribution - No liquidity raid = No trade - Never buy high and never sell low “Adapt what is useful, reject what is useless, and add what is specifically your own.” Dave FX Hunter ⚔
Short
by Dave-Hunter
1
**Pound Slips Toward 1.2700 on Weak Fundamentals**GBP/USD Under Mounting Pressure: Reversal Patterns, Dollar Strength, and the Trump Effect The GBP/USD pair is showing clear signs of reversal, struggling to sustain momentum near recent resistance levels and failing to breach the liquidity zone, signaling a strong bearish outlook. The fundamental backdrop for the pound has shifted into negative territory, creating ideal conditions for a continued downtrend in this currency pair. Across financial markets, the U.S. dollar is surging, boosted by an array of macroeconomic and political forces. Market participants have taken note of the renewed strength of the dollar, especially amid growing confidence in a Trump electoral victory. Trump’s policies have consistently favored a strong dollar through economic and fiscal strategies, reinforcing demand for the currency. As a result, investors are starting to price in the likelihood of a reinforced dollar, with potential ripples across various asset classes, especially forex. Turning specifically to GBP/USD, there are several critical technical levels in play that could guide the pair’s trajectory in the near to medium term. In recent analyses, attention has been focused on key points at 1.2813 and 1.3050. These levels represent crucial thresholds: any sustained retest of support after a pullback to resistance could signal an increased probability of a breakdown. A successful retest of support, should it occur, could pave the way for further declines, with the technical and fundamental contexts aligning toward a bearish outlook. The current economic environment, therefore, remains unfavorable for the pound, particularly given that the dollar’s strength is being reinforced by shifting geopolitical and economic conditions. As the fundamental scenario develops, the path of least resistance for GBP/USD appears to be downward, with sentiment increasingly favoring a lower trajectory for the currency pair. Key Levels to Watch: Resistance Levels: 1.2940, 1.3000, and 1.3044 Support Levels: 1.2813, 1.2672, and 1.2500 A close look at the technical setup reveals that GBP/USD has re-entered a range bound by these resistance and support levels. At present, both the technical and fundamental backdrops are aligned for a continued move to the downside. The 1.2813 support level, in particular, represents a critical juncture. If the pair dips below this level, the likelihood of a deeper breakdown grows significantly, potentially opening the path toward the next support at 1.2672 and, in more pronounced bearish scenarios, toward 1.2500. Investors should be prepared for some pullbacks along the way, as volatility may trigger minor upward corrections. However, any such movements are likely to be short-lived unless there is a meaningful shift in the fundamental landscape. The role of news and upcoming economic data releases cannot be overstated in this dynamic environment. Market participants should stay attuned to potential changes in both economic indicators and policy announcements. Ongoing developments surrounding U.S. fiscal and monetary policy, particularly in light of Trump’s political momentum, will play a crucial role in defining the strength and stability of the dollar and, by extension, the weakness of GBP/USD. In summary, with both technical indicators and fundamental factors favoring the dollar, the GBP/USD pair seems poised for further losses. Careful monitoring of key support levels and geopolitical news will be essential as we await potential new lows in this currency pair.
Short
by lonelyPlayer0