USDJPYUSDJPY is currently at Demand zone and the price has rejected that zone,the price will go longby Jfilafx112
EURUSD SELL INCOMINGWe’re bouncing within a channel and a wedge. Price is close to an area of confluence plus there’s been a down trend for some time now. With this particular trade I see it being valid if these few things happen: it must respect the channel and 4 hr order block that was created, a 15 minute has to be created in that premium zone & triggered during NY Session and lastly I’d only go for 1:2 RR. There must be confirmations because there is still a possibility that there can be a trend line breakout. Considering all the multiple confirmations will increase the chances of the trade being successful. Good luck to everyone trading!Shortby ProfitPanther1
EURUSD Wave 4, Expecting Wave 5Presently, EUR/USD is in wave iv, and we are anticipating wave v. The last price peak reached 161.8% of wave i (leading diagonal) as identified below. Based on this, we assume that it is not C but wave iii and there is still one more upward wave before a correction occurs. Over the past week, the price has retraced 36% of wave 3. Some Elliott Wave traders believe that a 36% retracement is considered a shallow correction, thus indicating a strong possibility for the price to resume its upward trend immediately. However, I put a greater trust in Fibonacci levels. Therefore, I recommend waiting for the price to reach the 38.2% retracement level before deciding to enter a buy position. This approach, grounded in Fibonacci analysis, provides a more reliable signal for minimizing risk and maximizing potential returns. Note: - I am not really know about the part I highlighted in blue. - Be cautious if the price makes a false breakout (orange box) Wave v would be one of this: wave 5 is inverse 123.6 – 161.8% retracement of wave 4, or wave 5 is equal to wave 1, or third, wave 5 is 61.8% of wave 1-3 note: i updated the last sell signal last Thursday. close the trade good luckLongby edoyuwon1909Updated 1
USDCHF USD/CHF is currently following a technical ascending channel. The price has touched a key support level and completed the Elliott 4th wave. We plan to enter a buy position upon observing bullish price action.Longby forex_info3
AUDCAD SidewaysAUDCAD is not making any clear higher highs or lower lows, therefore support and resistance strategy is suitableby ruba_hasan960
EURUSD (Still in the same Range)EURUSD Techncial analyse The price reached the price we mentioned in the previous idea, it was the upper of the channel. Now, after touching the support line the price rebounded and will continue the bullish trend toward 1.08800 and then should break that to get 1.0917 and 1.09575 stability under 1.0796 means will start a bearish trend toward 1.0707, Pivot Price: 1.0850 Resistance Levels: 1.0880, 1.0917, 1.0992 Support Levels: 1.0796, 1.0707, 1.0650 The price is expected to oscillate between the support at 1.0796 and the resistance at 1.0917. previous idea: by SroshMayi3
NZDUSD BearishNZDUSD has formed a bearish flag continuation pattern indicating further downsideShortby ruba_hasan962
EURNZD bullish ideaA bullish idea, retracement from the bullish move, channel is going upwards. Fundamentals that I am not 100% sure. Good luck!Longby Sarka1114
Price extended, potential retracementAnalysis: Price can be seen as extended can we can look to trade against the current trend. Since price is not over extended, risk adverse participants should only initiate a smaller position. Short opportunity: Short at market reopening towards 0.98355 as Take Profit - 1 levelShortby TrainingTraderUpdated 222
✅EUR_USD BULLISH BIAS|LONG🚀 ✅EUR_USD is trading above The falling support line And the pair is in the Uptrend so we are bullish Biased and we will be Expecting a local bullish Move up LONG🚀 ✅Like and subscribe to never miss a new idea!✅ Longby ProSignalsFx4
AUD-CHF Potential Long! Buy! Hello,Traders! AUD-CHF is going down But the pair will soon Hit a horizontal support Level around 0.5982 From where a bullish Rebound is to be expected Buy! Like, comment and subscribe to help us grow! Check out other forecasts below too!Longby TopTradingSignals118
5/30/24 - EURCAD Analysisneutral on this trade idea need BOS to determine next steps18:42by victoriaawUpdated 0
EURUSD | Will it go higher? i doubt it.Hey fellas. There is a confluence of structural resistances on the zone shown on the chart and i think it's highly probable that we'll see a reversal at this price zone. Good luck everyone!Shortby Palambir223
EUR/USD climbs after US GDP, eurozone CPI nextThe euro has in positive territory on Thursday. EUR/USD is trading at 1.0840 in the North American session, up 0.37% on the day. The week wraps up with eurozone inflation on Friday. The market estimate for May stands at 2.5% y/y/, compared to 2.4% in April. The core inflation rate is expected to tick higher to 2.8% y/y, up from 2.7% in April. In Germany, the largest economy in the eurozone, inflation accelerated to 2.4% y/y in May, following a 2.2% gain in each of the past two months. This was the first time in five months that Germany’s inflation rate increased. On a monthly basis, inflation fell to 0.1%, a sharp drop from the 0.5% gain in April. The timing of the eurozone CPI release is significant, as it comes shortly before the European Central Bank rate meeting on June 6th. The ECB has strongly hinted that it will lower rates at the meeting and it would be a nasty surprise for the markets if the ECB changes its mind. With inflation under 3% and the eurozone grappling with sluggish economic activity, the conditions seems right for a rate cut. The ECB’s rate-tightening cycle has done a good job slashing inflation, and lower rates would provide some relief to households which are struggling with elevated rates and the high cost of living. In the US, second-estimate GDP was revised downwards to 1.3% y/y. This was below the 1.6% in the first estimate but higher than the market estimate of 1.2% and much weaker than the 3.4% gain in the fourth quarter of 2023. The drop in GDP was mainly attributable to weaker consumer spending, as consumers are yet to see any relief from the Fed’s high benchmark rate target of 5.25% to 5.50%. The Fed is concerned about stubbornly high inflation and FOMC members have been constantly pouring cold water on rate-cut expectations. The Fed has shown it can be patient and if the inflation picture doesn’t improve, it is conceivable that the Fed won’t lower rates before 2025. EUR/USD pushed past resistance at 1.0806 and is testing resistance at 1.0845 1.0765 and 1.0726 are the next support levelsby OANDA0
4HR demand zone continuation on LTF4HR candle has shown bullish bias after 4HR demand zone POI was tapped into. LTF scalp for about 40 pips is the goal, TP was decided on previous highs from the HTF demand zone.Longby wateronjacob0
4-hour EUR/GBP Inverse Head and Shoulders PatternInverse Head and Shoulders Pattern Pattern Formation: Left Shoulder: The first dip followed by a rise. Head: A deeper dip than the left shoulder followed by another rise. Right Shoulder: A dip similar in depth to the left shoulder followed by a rise. Neckline: The horizontal resistance line connecting the highs of the left shoulder, head, and right shoulder. In this chart, the neckline is marked at approximately 0.85200. Implications: An inverse head and shoulders pattern typically indicates a reversal from a downtrend to an uptrend.If the price breaks above the neckline, it suggests a potential bullish breakout, signaling a buy opportunity. Key Observations: The EUR/GBP has been in a downtrend. The pattern is forming at the end of the downtrend, indicating a possible reversal. The price is currently near the neckline. A break and close above the neckline would confirm the pattern and could lead to further upside potential. Trading Strategy: Entry Point: Consider entering a long position if the price breaks and closes above the neckline (0.85200) with significant volume. Stop Loss: Place a stop loss below the right shoulder to manage risk. Target Price: Measure the distance from the head to the neckline and project it upwards from the breakout point to set a target price. Risk Management: Monitor the volume during the breakout. Higher volume increases the reliability of the breakout.Be cautious of false breakouts. Wait for a confirmed close above the neckline.by Day_Trading_Attack_Penguins2
GBPCHF - ShortWaiting for a breakout of the support before taking a short position. This is my opinion about EURCHF Stay safe tradersShortby Integrity_GoldFX0
Forex hunterHello According to the formation of a bearish FTR setup, we can open a sale transactionShortby Yoneshunter2
EUR/JPYThe term "bearish BAT" likely refers to a bearish Bat harmonic pattern in technical analysis, which is used to identify potential reversal points in financial markets. This pattern consists of specific Fibonacci retracement and extension levels and is used by traders to predict potential price movements in the market. Here's an overview of the bearish Bat pattern: Bearish Bat Pattern 1. **X to A**: The initial move up. 2. **A to B**: A retracement of the XA move, typically to the 38.2% or 50% Fibonacci level. 3. **B to C**: A move in the opposite direction, retracing 38.2% to 88.6% of the AB move. 4. **C to D**: The final leg, an extension that completes at 88.6% retracement of the XA move. Key Characteristics - **B Point**: Retraces 38.2% to 50% of XA. - **C Point**: Retraces 38.2% to 88.6% of AB. - **D Point**: Completes at 88.6% retracement of XA. Trading the Bearish Bat Pattern - **Entry Point**: Near the D point. - **Stop-Loss**: Above the X point, considering some buffer. - **Take-Profit Targets**: Typically set at Fibonacci retracement levels of the AD move, such as 38.2% and 61.8%. Longby B9A-88652-NisarAhmad1
CADJPY: One More Bullish Yen Pair 🇨🇦🇯🇵 CADJPY looks very strong, after a test of a key support. The price formed a double bottom pattern and broke its neckline. With a high probability, the market will reach 115.0 level soon. ❤️Please, support my work with like, thank you!❤️ Longby VasilyTrader114
CAD-CHF Risky Long! Buy! Hello,Traders! CAD-CHF fell down Sharply but now the pair Has reached a horizontal Support level of 0.6605 From where we will be Expecting a local Bullish rebound Buy! Like, comment and subscribe to help us grow! Check out other forecasts below too!Longby TopTradingSignals2