Preferred direction: BUY Comment: For the Swiss franc , the focus is on the level of 0.91424, from which buy-deal is expected, and at the same time the medium-term strengthening of the US dollar. The context for a long position has now been formed and one can look for an entry point. The best option would be to go long through a breakout, as shown in the...
Preferred direction: BUY Comment: For the NZDUSD currency pair, we have come close to the resistance level of 0.61670 , thereby fixing the previous long target. At this stage, short-term purchases continue to be relevant, and strengthening towards the level of 0.62175 is expected. Of course, overcoming the resistance at the level of 0.61670 will not be...
Simple Trading - Head and shoulders It doesn't get more simple than this. Pay attention to the pattern. With a Strong USD, Gold can finally take a break, make some moves to the downside, and retest some support zones. Gold is about to make a HUGE move to the downside if the price can not hold above 2325. Look to SELL NOW! Price is at the bottom of the...
Key Points: Sell Entry: Consider entering a short position around the current price of 1.2750, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 1.2720 2nd Support – 1.2680 Stop-Loss: To manage risk, place a stop-loss order above 1.2810 This helps limit potential losses if the...
Traders, as we navigate through the second and third quarters, understanding the potential movements of the US 10-year yield TVC:US10Y becomes increasingly crucial. Join me as we analyze the factors shaping the bond market and anticipate the trajectory of the 10-year yield in the coming months. I'm excited to share a comprehensive outlook, encompassing a...
I'm entering a short position of 4 lots on FX:EURUSD at 1.0865. This trade setup is based on my analysis of recent price action and key support levels. If we break below 1.0827, I believe this will confirm that the top for FX:EURUSD is finally in, signaling a strong bearish trend. Trade Details: Entry: 1.0865 (Short position) Confirmation Level: 1.0827...
Just like USDT Dominance, US Dollar Index (DXY) has a somewhat inverse correlation with Bitcoin's direction. If we look at the DXY historically, whenever the DXY was in a downtrend or sideways movement, Bitcoin was in an uptrend. Also, whenever the DXY was in an uptrend, Bitcoin was in a downtrend. Simply put, if the DXY goes up, that means the U.S. dollar is...
FX:AUDUSD is forming a false break of the range resistance, but the market continues to struggle between traders. The focus is on the risk zone, the breakout of which will send the price flying downwards. The trend is neutral, after a long-range retest of 0.66676 resistance a false breakdown is formed and the buyer has no potential to go up. A retest of the...
FX:EURUSD is forming a correction after a false breakdown. The movement is formed after updating the local highs. The fundamental background for the currency pair is positive. The false breakout occurs against the resistance at 1.0885, as well as the rising line limiting the trend. If the fundamental background persists, in this case the correction will not...
FX:NZDUSD is entering the consolidation phase after breaking the local trend resistance. On D1 the price enters a new range and on H1 a golden cross is formed. The dollar is standing still and losing positions since the opening of the session on the background of negative news. This is generally favorable for the currency pair. In this case, a retest of the...
GOLD is changing the trading plane and is currently weaker than the market. The price within the correction confirms the previously broken support (now resistance) And bumps into the strong zone of 2359. The price is heading to 2332 on the background of the dollar growth. The fall may continue after the news, which may also indicate support for the dollar. The...
EURUSD is encountering strong resistance at 1.08883 level After a false breakdown, a retest and reversal candlestick pattern is formed. After breaking the downside resistance, the price does not go up and most likely will not be able to do so. On Thursday, news may be released that could reinforce the decline. If the price returns in the pattern boundaries, but...
Gold has been in a downtrend and will most likely continue in the downward journey as it is forming a Bearish Flay continuation pattern with a large bearish divergence.
29th May DXY: Weakness. Break below 104.50 could trade down to 104 support, (hesitate at 104.20) NZDUSD: Buy 0.6150 SL 20 TP 35 AUDUSD: Buy 0.6680 SL 20 TP 45 USDJPY: Buy 156.80 SL 30 TP 60 GBPUSD: Buy 1.2770 SL 30 TP 50 EURUSD: Buy 1.0865 SL 25 TP 30 USDCHF: Buy 0.9160 SL 30 TP 65 USDCAD: Buy 1.3665 SL 30 TP 60 Gold: If price breaks 2345 could...
Hello traders! EurUsd went down today which we were not expecting. We were anticipating more of an increase in price for a few reasons. 1) Monthly candle is bullish 2) Buy the rumor of cutting rates for the Eur on next weeks announcement 3) The weekly candle last week closed above weekly support level 1.08361. However, as always, we plan for both scenarios for our...
Short Term Elliott Wave in GBPUSD suggests rally from 4.22.2024 low unfolded as a 5 waves impulse Elliott Wave structure. Up from 4.22.2024 low, wave ((i)) ended at 1.2635 and pullback in wave ((ii)) ended at 1.2445. The pair extends higher again in wave ((iii)) with internal subdivision as an impulse in lesser degree. The 1-hour chart below shows the subdivision...
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FX:XAUUSD after a false breakdown of the support of the range is forming a correction, but within the upward consolidation channel. The fundamental background is still negative. There is no strong news in the next two days, so the fundamental background remains the same. There is no strong buyer on the market yet and thus, gold may continue its downward...