EURUSD is on the higher timeframe still bearish as I suggested in my previous idea but ahead of the FED meeting, the market might try to price in the fact that the FED will probably will not hike again. In fact, there is a 92% chance according to economists that the rates will stay at 5.50%, this change of policy will still keep the dollar attractive to investors....
Here is our detailed technical review for EURUSD. Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 1.070. The above observations make me that the market will inevitably achieve 1.054 level. P.S Please, note that an oversold/overbought condition can...
Gold's price is about to take a tumble, dropping quite a bit to hit that support level. The selling pressure is off the charts, and we're betting that buyers will start cashing out and joining the selling action in the 15-minute and 1-hour time frames.
Currently, EUR/USD is trading under pressure below 1.0700 during Tuesday's cautious Asian session. It is speculated that the ECB's completion of the rate hike will weigh on the common currency, while the USD's bearish action could support the pair. However, the main risk to the EUR outlook is that the ECB turns dovish sooner than expected and/or growth momentum in...
Price is approaching our sell entry at 1.0705, which is a pullback resistance level, aligning with the 50% fibo retracement and slightly below the 100% fibo projection. Our stop loss is at 1.0765, which is the overlap resistance level. Take profit is at 1.0640, which is a swing low support level. High Risk Investment Warning Trading Forex/CFDs on margin...
There are some positions to buy EURUSD easily after breaking the range, but this could be also a trap for buyers!
EUR/USD Rebounds Despite USD Pressure – Fed Meeting Looms The Euro (EUR) has staged a rebound against the US Dollar (USD), pushing EUR/USD past the initial drop near 1.0670 and setting its sights on the 1.0700 resistance level as Tuesday unfolds. The USD continues to face selling pressure, and it's approaching a critical support level around 105.00 as tracked...
EURUSD is still within a downtrend. On D1 we see the beginning of a reaction to a strong support line. There is a chance that on H1 price could break resistance TA on the high timeframe: 1) if we pay attention to XAUUSD, gold is rising on the background of DXY growth stop. If the latter starts an active decline (news this week), eurusd will give a bullish impulse...
Preferred direction: Neutral Comment: The previous Gold trade worked out perfectly and a profit has already been made here as well. There are not many points left until the final goal and most likely this point will be completed today. At a minimum, the transaction is closed with partial profit and moved to break-even. The market, as was said in the previous...
Key events: Eurozone - CPI (YoY) (Aug) USA - Building Permits (Aug) On Monday, the major stock market indices on Wall Street displayed fluctuating movements, with particular attention on energy stocks closely following the surging prices of crude oil. Investors were also eagerly awaiting the upcoming interest rate decision from the Federal Reserve. Within...
Preferred direction: SELL Comment: In general, the situation with the euro has not changed locally; the instrument is still under the control of sellers, but there is no clear entry point yet. As long as the price is below the level of 1.07500, sales will be a priority in any case. The market is awaiting the Fed's decision on Wednesday, and against this...
Preferred direction: SELL Comment: The last oil trade aimed at a short-term fall (counter-trend movement) successfully closed with a profit. At the moment, a sell setup has also formed, and here most likely the rollback will be deeper. The correction potential lies at the level of 92.50. Thank you for like and share your views!
EURUSD If the direction stabilized under 1.0691 it will touch 1.0636 then 1.0603 then 1.0550 if the direction reversed above 1.0744 and closed it will touch 1.0775 then 1.0828 then 1.0907 between 1.0603 and 1.0775 will be the change zone resistance line : 1.0636,1.0603,1.0550 support line: 1.0775,1.0828,1.0907
🔸Hello traders, today let's review the 8 hour chart for gold. Recently solid gains off the lows near 1890 usd and currently expecting more gains in this market going into September. short-term pullback in progress, expecting pullback to complete near 1900/1905 usd. 🔸Setup is based on speculative XABCD structure, point X at 1965, point A and 1890, point B at 1948,...
Since mid-July, EurUsd has started to drop and the pair lost 600 pips since then in a clear down trend. However, after touching the end of May low support, the pair started to reverse and the last 2 daily candles indicate the possibility of reversal. Keep in mind though that we are now in the zone of a strong resistance and only a break above this zone would...
On XAUUSD, we have a bullish setup as the market is gaining strength in anticipation of a new monetary tightening by the Fed. I noticed a breakout of a significant swing high, leading to the creation of a demand zone at the level of 1920-1930. I'll await a bounce within this range, where I'll assess the presence of at least one structural change at the 15-minute...
2023.9.19 GBPUSD remain relatively low Hello, I'm Older Duan. Today is Tuesday, September 19th 2023. Now it's 17pm Beijing time. Let me give you a quick comment on the technical forms of the current international mainstream varieties! First, what we see is the daily graph of the dollar index. As shown in the figure, the US dollar index has maintained a...