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XAUUSD Technical Analysis 6th February 2024 1h chart– Monday Daily candle closed Bearish respecting Daily Resistance formed on Friday 2nd February around 2055s. I’ll be looking for potential Buys above 2029.700 targeting recent 1h Resistance (2038.100) and previous Weekly Support formed last month January at (2045.500). I’ll be looking for potential Sells below 2016.100 targeting recent 4h Support (2009.100) leaving runners to 2001.800 for potential Monthly Wick Fill for January 2024.
OANDA:XAUUSD
by SalimFX20
XAUUSD Technical Analysis 5th February 2024 1h chart– Previous Weekly candle closed Bullish rejecting 2 recent Weekly Resistances (2049s) and (2063s) and forming new Weekly Support just below 2020s, Friday Daily candle closed Bearish forming Resistance at 2055s. – One thing I find interesting on Daily timeframe is how Friday daily candle tapped into previous Daily Resistance held around 2030s then rejected and closed above it so so far the 2030s level is a strong area for gold to break below so we might see multiple rejections or potential Daily Support to be formed above 2030s. – I’ll be looking for potential Buys above 2044.500 for price to retest the broken 1h Support at the news event held on Friday aka NFP + Unemployment Rate, at 2051.800 and to potentially see wick fill for the previous Weekly High. – I’ll be looking for potential Sells below 2031.700 targeting 1h Strong Support (2024.700) and recent Weekly Support (2018.500).
OANDA:XAUUSD
by SalimFX20
1
EURUSD: Detailed Structure Analysis & Key Levels 🇪🇺🇺🇸 Here is my latest structure analysis for EURUSD. Horizontal Structures Support 1: 1.0724 - 1.0760 area Support 2: 1.0655 - 1.0670 area Resistance 1: 1.0895 - 1.0930 area Resistance 2: 1.0973 - 1.1000 area Resistance 3: 1.1106 - 1.1140 area Vertical Structures Vertical Support 1: Falling trend line Consider these structures for pullback/breakout trading next week. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
7
DXY Analysis:NFP Surge and Fed's Caution Fuel Buying OpportunityIn the context of technical analysis, DXY (US Dollar Index) has recently breached a crucial resistance level at 103.800, signaling a potential buying opportunity. However, it's currently in a corrective phase, retracing towards this breakout area. This technical setup suggests a strategic entry point for traders eyeing bullish positions on the dollar. Adding a fundamental layer to this analysis, today's Non-Farm Payrolls (NFP) data has significantly impacted market sentiment. The release of NFP figures showing an impressive 353,000 jobs added in January, far surpassing the expected 180,000, has injected notable strength into the US dollar. Moreover, the Federal Reserve's cautionary stance, particularly the indication that there will likely be no interest rate cuts in March, further supports the bullish outlook for the dollar. These fundamental factors, combined with the technical breakout, reinforce the potential buying opportunity on DXY around the 103.800 zone. This confluence of technical and fundamental indicators suggests a compelling case for monitoring DXY closely in the coming week, with a keen eye on potential buying opportunities as it retraces towards the breakout area. Traders should remain vigilant and capitalize on this strategic entry point, considering the robust NFP data and the Fed's cautious stance on monetary policy.
TVC:DXYLong
by JoeChampion
3
NFP Strategy Unveiled: Join me Live on Tradingview📊🔍 NFP Strategy Unveiled: Smart Trades with FX Professor! 💡🔄 Dive into the heart of the forex market with me, your FX Professor, as we anticipate today's Non-Farm Payroll (NFP) and average hourly earnings release. Here's my simple, yet strategic approach to trading EUR/USD amidst this pivotal economic data release. Decoding the NFP: A robust NFP with lower average hourly earnings could signal the perfect storm for rate cuts by the Feds. This scenario might just be the golden ticket for a bullish EUR/USD run, as it aligns with a potentially dovish shift in U.S. monetary policy. EUR/USD Outlook: With EUR/USD hovering at 1.088, I've got my eyes set on a support channel around 1.07465. Should the pair dip in response to the NFP, I'm ready to bolster my long positions, embracing the lower prices as a springboard for potential gains. Trading Plan: I plan to split my strategy – going long with two positions, and hedging with a short. Specifically, I'm thinking two lots long, then another two, making it four lots long against two lots short. If the market dips, the short position will offset some losses, and I'll seize the opportunity to increase my longs, capturing profits as I buy the dip. Live Trading Session: Join me in an hour for a thrilling live trading session. We'll be riding the waves of volatility together, with real-time analysis and strategic maneuvers designed to turn market movements into opportunities. 📈🎢 Be there as we navigate the twists and turns of today's NFP release – with the FX Professor at the helm, it's sure to be an educational and potentially profitable journey! Link: www.tradingview.com (Join me Live!!) One Love, The FXPROFESSOR 💙 ps. i gave it some thought, to maybe select another pair (NZD or AUD for example) since EUR is suffering from more persistent inflation, being more vulnerable to Ukraine and Red sea problems and with the farmers complaining (we love them and we stand with them) but eventually EURUSD is going to be for me for 2 reasons: - i don't see rate cuts anytime soon - the price at 1.08 is still a bargain
by FX_Professor
Dollar Index (DXY): Trading Plan Ahead of Payrolls 💵 Dollar Index is testing a support of a horizontal range on a daily now. Ahead of the non-farm payrolls report, watch carefully the intraday price action. The price is currently consolidating within a narrow range on an hourly time frame. Its resistance breakout can give us a strong bullish confirmation. Hourly candle close above 103.1 will confirm a violation, a bullish continuation will be expected at least to 103.25 Remember that a bearish violation of a support of the range on a daily will invalidate the setup. ❤️Please, support my work with like, thank you!❤️
TVC:DXYLong
by VasilyTrader
2
XAUUSD Technical Analysis 02.02.2024 1h chart– Thursday Daily candle closed strong Bullish at 2055.200 within Daily Resistance formed on Tuesday 16th January 2024, As per the Analysis posted yesterday (XAUUSD 01.02.2024 1h chart) the Buys played out exactly as anticipated. For Friday we have High Impact News event for the US Dollar. I’ll be looking for potential Buys above 2060.800 targeting 2066.200 for price to fill previous Daily High and Weekly Resistance (2072.200) for potential retest. I’ll be looking for Sells below 2051.300 to retest 30min recent Support (2045.500) and 4h Support (2039.000).
OANDA:XAUUSD
by SalimFX20
1