FaithdrivenTrades

FaithdrivenTrades

GBP/CAD has been in an extended move higher, breaking last week’s short setup. Now, I’m looking for a short entry on a test of daily resistance, expecting a potential pullback. 🔹 Trade Notes: 📊 The pair has rallied significantly, and price is approaching a key resistance zone where sellers may step in. ⚠️ A strong upper wick on the VIX Daily Candle suggests risk...

FaithdrivenTrades

EUR/NZD has reached a strong resistance zone around 1.840 - 1.849, where sellers may step in. I've entered a short position, expecting a potential rejection from this level. 🔹 Trade Setup: 🔻 Entry: Near 1.837 - 1.840 (Resistance Zone) 🎯 Profit Target (Blue Zone): 1.830 - 1.817 🛑 Stop-Loss (Yellow Zone): Above 1.840 🔹 Market Outlook: 📊 Bearish Bias – This level...

FaithdrivenTrades

AUD/CAD has reached a key resistance zone around 0.908 - 0.909, aligning with previous highs and the 200-day moving average. I’ve entered a short position, anticipating a potential rejection from this level. 🔹 Trade Setup: 🔻 Entry: Near 0.908 - 0.909 (Key Resistance) 🎯 Profit Target (Blue Zone): 0.903 - 0.902 🛑 Stop-Loss (Yellow Zone): Above 0.909 🔹 Market...

FaithdrivenTrades

NZD/USD is currently testing trendline support around 0.572, and I’ve entered a long position with a defined risk-reward setup. 🔹 Trade Setup: ✅ Entry: Near 0.572 (Trendline Support) 🎯 Profit Target (Blue Zone): 0.5804 - 0.5814 🛑 Stop-Loss (Yellow Zone): Below 0.567 🔹 Market Outlook: 📊 Bullish Bias – As long as the trendline holds, we could see a push toward the...

FaithdrivenTrades

The British Pound is facing renewed pressure, trading around $1.264, slightly below the 10-week high of $1.2669 reached on February 20th. With BoE policymaker Swati Dhingra advocating for a larger half-point rate cut, traders have increased their bets on monetary easing. Market expectations now price in 56 basis points of rate cuts this year, with the first cut...

FaithdrivenTrades

Step into the Forex ballroom, dancers! 🕺💃 Today, we're putting on our dancing shoes to match the rhythm of the GBP/JPY pair, as it swings and sways through the market like a seasoned Cha-Cha champion. Step One-Two: The Technical Twist Our chart is like a dance floor, and each candlestick is a step. Watch the GBP/JPY as it takes two steps forward, one step back,...

FaithdrivenTrades

🐂 Bulls took the lead in the latest market dance-off, but 🐻 bears might be prepping for a counter-swing! 💃🕺 Current Trend: "After a bullish 💪 breakout, the USD/JPY pair could be saying 'Sayōnara' to lows and 'Konnichiwa' to new heights! 🚀 Indicators & Patterns: "Our trusty Stochastic Momentum Index is waving a red flag 🚩, hinting that the party might be...

FaithdrivenTrades

Main Analysis: Trend Identification: "Following a period of consolidation, USD/CHF has broken above a critical resistance level, suggesting a strong uptrend initiation." Technical Indicators: "The Stochastic Momentum Index has exited the oversold territory, supporting the bullish momentum. Furthermore, the pair has surpassed the MA50 and MA200, reinforcing the...

FaithdrivenTrades Updated 

Because all messages are short on this one i go lon

FaithdrivenTrades

🌐 We are here to share insights, pinpointing the critical junctures for market entry and exit with the goal of enlightening, not just profiting. 🔗 Key Technical / Direction (Long) Type: Short to Mid Term Swing —————————— ☑️ Bullish Reversal 0.65700 Area Reasons ⚡️- Historical Support Zone ⚡️- Oversold on Stochastic Momentum Index ⚡️- Price Action Suggesting...

FaithdrivenTrades

🌐 In the spirit of collaboration, we aim to demystify the critical points of market entry and exit, fostering a shared understanding over mere financial gain. 🔗 Key Technical / Direction (Short) Type: Short Term Swing —————————— ☑️ Bullish Reversal $33,946 Area Reasons ⚡️- Reaching Major Support Zone ⚡️- Oversold on Stochastic Momentum Index ⚡️- Convergence on...

FaithdrivenTrades

🌐 We're dedicated to spreading knowledge to underscore the crucial entry and exit points, fostering a deeper understanding rather than merely chasing profits. 🔗 Key Technical / Direction (Long) Type: Short Term Swing —————————— ☑️ Bullish Reversal 0.87250 Area Reasons ⚡️- Bouncing off the Support Zone ⚡️- Oversold Territory on Stochastic Index ⚡️- Confluence...

FaithdrivenTrades

☑️ Technical Aspects: The price action is consolidating within a key support zone, which may act as a launchpad for bullish momentum. Stochastic readings are indicating an oversold condition, hinting at a potential upward reversal. The moving average convergence could signal a bullish shift if the shorter-term moving average crosses above the longer-term...

FaithdrivenTrades

☑️ Technical Aspects: A clear support zone is highlighted, offering a potential springboard for price action to ascend. The stochastic oscillator suggests an oversold condition, signaling a potential reversal to the upside. Moving averages may provide dynamic support, with the possibility of a bullish crossover if the short-term average climbs over the long-term...

FaithdrivenTrades

Delving into USD/CAD dynamics with a blend of technical foresight and fundamental awareness. 🔗 Key Technical / Direction: Short to Mid-Term Bullish Type: Short-Term Positioning ☑️ Technical Aspects: The price is hovering above a significant support zone, potentially establishing a base for an upward move. Stochastic indicators suggest a temporary oversold...

FaithdrivenTrades Updated 

🎯 Buy Limit: Placing at the robust support zone marked by the convergence of the MA200 and previous consolidation area. 💹 Rationale: The Stochastic indicates an oversold condition, hinting at a potential bounce. The price action nestles above a critical support line, making the current dip a tempting buy opportunity for a swift recovery. 🚦 Outlook: Aiming for a...

FaithdrivenTrades

🌐 Spreading knowledge and clarifying key points of entry and exit with a foundation of understanding. We prioritize insight over income. 🔗 Key Technical / Direction: Short Type: Short-Term Scalp ☑️ Bearish Retest 1980.00 Area Reasons: ⚡️ - Overbought RSI signal on 15min Chart ⚡️ - Resistance at previous high ⚡️ - Fibonacci retracement level from recent...

FaithdrivenTrades Updated 

USDJPY - is touching 200ma, and on previous it did bounce off going uptrend I believe that once agian it will do the same.