AUDUSD TRADE SETUPHey Traders,
Check this analysis out on AUDJPY, this is showing a potential for both buy and short opportunity.
So, keep a close tab on the pair something is about to make way
Trade safe.
USD
BEARISH SETUP ON USDJPY Hey Traders,
Check this analysis out on USDJPY, this is showing a potential for both buy and short opportunity.
So, keep a close tab on the pair something is about to make way
Trade safe.
DXY Under Pressure: Analyzing Economic Signals Ahead U.S. Elect.The U.S. Dollar Index (DXY) is currently showing intriguing movements as it deals with a mix of economic data and looming political changes. After a Friday marked by disappointing economic indicators—such as the ISM Manufacturing PMI and the Non-Farm Employment Change—the DXY appears to be entering a potential reversal phase. This was further reflected in its negative opening on Monday, which had a noticeable impact on trading in London.
Economic Backdrop and Market Sentiment
The DXY's recent performance has been influenced by a combination of economic releases and trader sentiment. The mixed results from significant economic indicators have created a sense of cautious uncertainty among investors. The less-than-ideal ISM Manufacturing PMI and Non-Farm Employment Change figures have raised concerns about the strength of the U.S. economy, prompting traders to reassess their positions.
As market participants analyze these economic signals, it’s evident that the DXY is acting in response to established price levels and supply zones. Recent price actions suggest a critical juncture; the dollar seems to be encountering resistance as it approaches these key areas.
Insights from the COT Report
A deeper look at the market dynamics through the latest Commitment of Traders (COT) report reveals a noteworthy divergence. Retail traders continue to maintain long positions, likely influenced by previous bullish sentiment surrounding the dollar. Meanwhile, institutional investors, often referred to as the "smart money," are taking a more bearish stance, gradually shifting their positions lower. This unsettling divergence raises important questions: Will the enthusiasm of retail traders sway the market, or will the more cautious strategies of institutional investors prevail?
This situation highlights the potential for volatility that characterizes these transitional phases in the market. Retail traders may find themselves at risk if the smart money's strategies prove to be more prescient.
Seasonal Trends Indicate a Bearish Outlook
Adding another layer of complexity, seasonal patterns historically suggest that a bearish trend may be on the horizon during this time of year. Price movements often align with established seasonal patterns, prompting traders to consider the implications for future market performance.
The Impending U.S. Elections: A Prelude to Volatility
With U.S. elections fast approaching, market volatility is expected to rise significantly. History shows that political events can greatly influence currency and asset prices, leading traders to adjust their positions in anticipation of results. This environment is likely to see retracements across various indices and currencies, creating turmoil across the financial landscape.
As market participants prepare for the immediate aftermath of the elections, substantial fluctuations are anticipated. The uncertainty surrounding the potential outcomes and the resulting policy shifts will drive considerable movement across asset classes.
Conclusion
The DXY’s trajectory is complex as it navigates a potential reversal amidst mixed economic signals, diverging trader positions, and impending political changes. With the elections on the horizon, traders should brace for increased volatility and be ready to adapt to rapid shifts in momentum. Staying informed about economic indicators, seasonal trends, and overall market sentiment will be crucial for navigating this challenging landscape. Ultimately, success in these uncertain times will hinge on understanding market psychology while remaining agile in response to both data releases and geopolitical developments.
Initial Idea:
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Potential bullish rise?The kiwi (NZD/USD) is reacting off the pivot and could rise from this level to the 61.8% Fibonacci resistance.
Pivot: 0.5991
1st Support: 0.5939
1st Resistance: 0.6048
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Falling towards 38.2% Fibonacci support?The Aussie (AUD/USD) is falling towards the pivot which acts as a pullback support and could bounce to the 1st resistance which is an overlap resistance.
Pivot: 0.6585
1st Support: 0.6538
1st Resistance: 0.6649
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bullish bounce?USD/JPY is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance level which acts as an overlap resistance.
Pivot: 150.91
1st Support: 149.02
1st Resistance: 152.91
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish reversal off pullback resistance?The Cable (GBP/USD) is rising towards the pivot which has been identified as a pullback resistance and could reverse to the 1st support level which is a pullback support.
Pivot: 1.3022
1st Support: 1.2909
1st Resistance: 1.3105
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Weekly FOREX Forecast: USD is STRONG Vs CAD, CHF, & JPYThis is an outlook for the week of Nov 4 - 8th.
In this video, we will analyze the following FX markets: CAD, CHF, & JPY future, and USDCAD, USDCHF, and USDJPY.
Enjoy!
May profits be upon you.
Leave any questions or comments in the comment section.
I appreciate any feedback from my viewers!
Like and/or subscribe if you want more accurate analysis.
Thank you so much!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies.
I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
Trump or Harris? Markets Awaits Outcome Trump or Harris? Markets Awaits Outcome
This week, the U.S. presidential election will command everyone's attention.
Market watchers will be focused on a handful of pivotal swing states, including Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania, and Wisconsin. Pennsylvania is potentially the most critical.
Yet, the results may not be immediate. In 2020, for instance, the Associated Press declared Biden the official winner about three and a half days after polls closed.
This time around, a win by Trump could strengthen the dollar, driven by the possibility of heightened tariffs that may also weigh on currencies closely linked to China, such as the Australian dollar. With daily MACD in negative territory, AUD/USD appears on track to test the next support at 0.6490, aligned with a trend line since October 2023
In contrast, Newsquawk suggests that a Harris victory could pressure the dollar, with potential gains in commodities and the euro.
XAUUSD 3/11/24We have a short bias on gold this week, mainly to establish a better price level in case the market decides to move higher again, based on the daily timeframe gap. This is the first bearish gap in over a month, which indicates a strong chance for a possible sell-off.
We’ve marked the lows, and currently, there are no unmitigated areas of demand. Given our bearish bias, this is expected, as previous areas of demand or support are likely to be broken, allowing the price to reach a more favorable level for future buying opportunities. There’s also an area of supply marked above, which could push the price lower. However, we're primarily looking for a short-term sell-off, with a longer-term expectation of reaching all-time highs again, driven by strong fundamentals supporting gold.
This pullback is likely a temporary correction in the overall uptrend. Since we haven’t seen a pullback in a while, a correction is ultimately inevitable. Where it will end and turn bullish again is uncertain.
This week, our focus is on the liquidity levels marked for potential reactions. Trade based on current price action and follow your plan. Stick to your strategy, manage your risk, and consider the supply area as a possible point for selling into the lows.
Follow your plan and stick to your risk.
EURUSD 3/11/24This week, our bias on the Euro has shifted from short to long. This change is based on observing a shift in the higher time frame structure, as institutions appear to be showing interest in buying. Whether this move will be short-term or long-term remains to be seen. We’ll watch the price action in the first sessions of the week to get a clearer idea.
Please note, this analysis follows the same principles and bias approach as always. Currently, there are no unmitigated demand areas on the 4-hour chart, and only a short-term supply area has formed. The area of demand we’ve highlighted is present only on the 1-hour chart, making it more of a smaller time frame reference than a higher one. We’ve marked key liquidity levels, which will serve as our reference points for potential upward movement this week.
If the price interacts with the 1-hour demand area, we’ll aim for the high at the top of the current range. While I’m ultimately looking for a longer-term upward move, a pullback beforehand is possible.
Stick to your plan and manage your risk.
EURUSD: Support & Resistance Levels Analysis 🇪🇺🇺🇸
Here is my latest structure analysis
and important key levels for EURUSD for next week.
Consider these structure for pullback/breakout trading.
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USDCAD Is Approaching The Main TrendHey Traders, in tomorrow's session we are monitoring USDCAD for a buying opportunity around 1.38900 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend t 1.38900 support and resistance area.
Trade safe, Joe.
Euro can fall to support level and then start to move upHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price fell to the seller zone, which coincided with the resistance level and at once rebounded up. Price in a short time rose to 1.1210 points and then turned around and started to decline inside the downward channel. In the channel, the price soon broke the 1.1085 level and then fell almost the support line of the channel, after which EUR bounced and continued to decline. Later Euro fell to the support level, which coincided with the support line of the downward channel with the buyer zone. After this, the price continued to decline and soon, broke the 1.0810 level and entered to buyer zone, after which turned around, and some time traded between support level. Last time, the price fell to the buyer zone and then rebounded up, thereby breaking the 1.0810 level again, and then exited from the channel too. At the moment, I think that Euro can correct to a support level and then start to grow. For this case, I set my TP at 1.0980 points. Please share this idea with your friends and click Boost 🚀
NZDUSD Is approaching higher time frames ResistanceHey Traders, in today's trading session we are monitoring NZDUSD for a selling opportunity around 0.59900 zone, NZDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.59900 support and resistance area.
Trade safe, Joe.
GBPUSD Breakout And Potential RetraceHey Traders, in the coming week we are monitoring GBPUSD for a selling opportunity around 1.29300 zone, GBPUSD was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 1.29300 support and resistance zone.
Trade safe, Joe.
EURUSD Short term buy inside a Channel Up.EURUSD is trading inside a Channel Up.
The price has falled by -0.55%, same amount as the October 25th-28th pull back.
That was a short term buy opportunity that targeted the 0.786 Fibonacci.
The MA200 (1h) is supporting just below.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 1.08750 (Fibonacci 0.786 level).
Tips:
1. The RSI (1h) is about to turn oversold. That has been the most effective buy signal on the last 3 lows (October 29th, 28th and 23rd).
Please like, follow and comment!!
Notes:
Past trading plan:
BTC 4 Seasons CycleWhat I came up with is that in the bullphase Bitcoin tops out in Winter/Spring 🟦/🟩
Last cycle we had a double top but you would only miss out on 4-8% while saving yourself the headache of a 50% drop in summer 🟥
In the bearphase we bottom usually in Fall/Winter 🟧/🟦
I dont know how people can call for 48-55k or something else it would take us another year then until Winter to get back up and top out and to drop in 4-6 Months in Summer to the bottom its not usual for Bitcoin to do that.
It takes Bitcoin around 350 to 400 Days to hit the bottom you can see it in the picture below
Bearish drop off 50% Fibonacci resistance?USD/JPY is rising towards the resistance level which is an overlap resistance that aligns with the 50% Fibonacci retracement and could drop from this level to our take profit.,
Entry: 152.83
Why we like it:
There is an overlap resistance level that aligns with the 50% Fibonacci retracement.
Stop loss: 153.54
Why we like it:
There is a pullback resistance level.
Take profit: 151.61
Why we like it:
There is a pullback support level.
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Bearish reversal?EUR/USD is rising towards the resistance level which is a pullback resistance that is slightly below the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 1.0896
Why we like it:
There is a pullback resistance level that is slightly below the 61.8% Fibonacci retracement.
Stop loss: 1.0952
Why we like it:
There is an overlap resistance level that aligns with the 78.6% Fibonacci retracement.
Take profit: 1.0840
Why we like it:
There is a pullback support level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Potential bullish bounce?Bitcoin (BTC/USD) is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance that is slightly below the 50% Fibonacci retracement.
Pivot: 69,503.31
1st Support: 68,287.05
1st Resistance: 71,376.35
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
GU could be getting ready to Reverse!Now that we are in a new month AND its election week next week the market could get very volatile. Dollar has been moving bearish all week and most are still expecting it to move bullish. I'm thinking its more likely to turn bullish for a little while. Leaving the Election news to give it the bullish push it needs to start pushing back up. This could lead to some significant moves in the market. We just have to remain ready!
Yall Lock in and follow me you Youtube #NOFOMO is the channel!
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USDCAD Potential UpsidesHey Traders, in today's trading session we are monitoring USDCAD for a buying opportunity around USDCAD for a buying opportunity around 1.39200 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.39200 support and resistance area.
Trade safe, Joe.
