Gold (XAUUSD) 10/6/19 Gold Long Idea Last week price action completed a Head & Shoulder pattern after a break of key support turned resistance around 1485.00 then quickly reversed and blew back through key resistance turning back into support. Gold is now in a consolidation phase and is building momentum for the next explosive move. The 4hour 38.2% fib level...
The EUR/USD pair is facing significant macroeconomic factors, with the European Central Bank (ECB) contemplating additional rate cuts beyond the summer, aligning with market expectations of two more rate cuts later this year. Conversely, market participants are debating whether the Federal Reserve (Fed) will implement one or two rate cuts this year, despite the...
The AUD/USD pair continues its upward trajectory, marking its second consecutive day of gains after finding support at the 0.6400 level on Wednesday. Despite facing a mixed bag of economic data, the Aussie dollar remains steadfast, exhibiting resilience in the face of uncertainty. On the economic front, the Australian dollar experienced contrasting news. While...
The GBP/USD pair has shown signs of gaining traction during the early European session on Wednesday, surpassing the 1.2460 mark after experiencing a rebound around the 50% Fibonacci level. Despite previous forecasts suggesting a potential deeper reversal around the 61.8% and 78.6% Fibonacci levels, recent price action, in line with EUR/USD movements, indicates a...
The EUR/USD pair surged with bullish momentum during Wednesday's session, propelled by a robust bullish impulse. However, the price has now entered a potential reversal zone, characterized by a Double top formation on the H1 timeframe. Additionally, on the H4 chart, the price has reached the 61.8% Fibonacci level, accompanied by overbought conditions and...
The EUR/USD pair experienced notable volatility on Tuesday, following our previous forecast indicating a potential bearish continuation. Despite initially touching previous support-turned-resistance levels, the pair managed to close in positive territory. Currently, it remains within our Fibonacci levels of interest, signaling a possible continuation of the...
The GBP/USD pair, having met our projected zone at 1.2550, initiated a bullish surge in Tuesday's London session to counter yesterday's sharp decline. However, it may encounter resistance near the 1.2580 level before potentially resuming its bearish trajectory. The pair's appeal remains limited amid subdued market sentiment. Traders have adjusted their...
Amidst early week volatility, GBP/USD initially tested 1.2650 before reversing course and closing positively on Monday. However, recent movement has brought the pair into a supply area, hinting at a possible reversal and continuation of its bearish trajectory. In the upcoming economic calendar, focus shifts to the release of Durable Goods Orders for February in...
The EUR/USD pair experienced a significant decline towards the end of last week, driven by the release of Eurozone and US flash PMI data. These figures underscored the perceived strength of the US economy, leading to speculation that the Federal Reserve (Fed) may reconsider its aggressive stance on interest rate cuts. The data painted a picture of US...
The USD/JPY has surged to multi-year highs in the 151.000s amid a broader strengthening of the US Dollar and shifting trade dynamics, exerting downward pressure on the Japanese Yen. Currently positioned at 151.590, the pair finds itself within a robust resistance zone, hinting at a potential retracement following the Federal Reserve's upcoming policy meeting. As...
XAUUSD is very much likely to have a sell off because of the current resistance its very much reacting off before going long for the bullish rally. FOREXCOM:XAUUSD
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USDCHF intraday trading alert 3 simple steps to find a quality setup! Risk Reward Ratio 1:2 Anyone same idea with me? BUY USDCHF Good luck traders...
The EUR/USD currency pair is currently experiencing oscillations below the 1.0700 level, primarily influenced by the USD Index surpassing the immediate resistance level of 104.30. This development reflects the strength of the US dollar and its impact on the pair's movements. Financial markets are witnessing a state of chaos due to the conflicting views among...
The recent surge in UK CPI figures has sent shockwaves through the broader markets, with many observers anticipating a hawkish response. This sentiment is particularly noteworthy given the recent comments by Governor Bailey, who expressed optimism about the UK's inflation trajectory and suggested that the central bank's interest rate hikes may soon come to a...
Yesterday, we discussed how the GBP/JPY had recently experienced a bullish rally, but had been in a consolidation phase for the past two days. During this period, the price appeared to be forming a reversal head and shoulders pattern, which caused some concern among traders. However, the pattern was invalidated when the price broke through the local resistance,...
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