EURUSD Analysis===>>RR=2.41EURUSD managed to break the Resistance line and Resistance zone($1.0734_$1.0716) with the help of the Breakaway Gap . ( Of course, now the resistance zone has turned into a support zone ).
According to the Elliott wave theory , EURUSD has successfully completed wave 3 and is currently completing wave 4 .
I expect the EURUSD to rise to at least the Resistance zone($1.0806_$1.0780) .
Euro/U.S.Dollar Analyze ( EURUSD), 1-hour Time frame ⏰.
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Forexsignal
XAU rebounded after moving sidewaysMany analysts believe that the gold market is in a calm period and may fluctuate again at least until the end of this week. The increase in buying by investors at the beginning of the session is the expectation that the price will increase after the precious metal is in a low price range.
The current monetary policy stance of the US Federal Reserve (Fed) could trigger another sell-off in the market.
As long as the Fed loosens monetary policy, it will put pressure on the USD and push up gold prices.
EUR/USD Analysis: ECB Rate Cuts and Fed Policy DivergenceThe 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 Fed's June 12 meeting indicating just one cut, likely in December.
Today's release of the EUR Core CPI Flash Estimate y/y and CPI Flash Estimate y/y shows weaker prospects than forecasted. The Consumer Price Index (CPI), which measures the change in the price of goods and services purchased by consumers, suggests that a weaker result could drive the EUR/USD pair lower.
Additionally, the recent rise in the US Dollar is partly due to hawkish comments from Fed officials and the growing monetary policy gap between the Fed and other major central banks, contributing to the euro's decline.
In the short term, the recent ECB rate cut, compared to the Fed's decision to maintain rates, has further widened the policy gap between the two central banks, potentially leading to more weakness in the EUR/USD pair.
From a technical perspective, on the Daily timeframe, we have identified a Demand Area that has not been fully tested. We anticipate a possible bearish momentum today and will look for a potential long position if the price reaches our Area of interest.
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EURUSD is Ready to Go Up!!!EURUSD is moving in the Support zone($1.070-$1.062) and near the Support line .
Also, we can see Regular Divergence(RD+) between two Consecutive Valleys .
According to the theory of Elliott waves , EURUSD seems to have completed its 5 downward waves and we should expect upward corrective waves .
I expect EURUSD to trend higher in the coming hours.
Euro/U.S.Dollar Analyze ( EURUSD), 4-hour Time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
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AUD/USD Surges as US Inflation Cools, Setting for Bullish ContAUD/USD Surges to 0.6670 as US Inflation Cools, Setting the Stage for Bullish Continuation
The AUD/USD pair has jumped higher to 0.6670 following an expected cooling in US inflation. This move aligns with our technical analysis, which anticipated a potential rebound in the Fibonacci retracement area, triggering a new bullish impulse. We also observed a divergence on the RSI within the H4 timeframe, which is situated inside a bullish channel.
The decline in US inflation data is expected to spur expectations for early rate cuts by the Federal Reserve (Fed), creating an unfavorable scenario for the US Dollar. Consequently, the US Dollar Index (DXY) has turned negative, dropping to 105.80.
According to the CME FedWatch tool, the central bank sees the September meeting as the earliest point for pivoting to policy normalization. The tool indicates that the Fed is expected to deliver two rate cuts this year. However, contrary to market expectations, Fed officials have forecasted only one rate cut this year.
Considering all the data and analysis, we are anticipating a possible bullish continuation for the AUD/USD pair.
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EURJPY: To The New Highs 🇪🇺🇯🇵
EURJPY broke and closed above a key daily resistance.
Retesting the broken structure, the price formed a double bottom
formation on that and violated its neckline then.
That confirms a strong bullish sentiment on the market.
The price will most likely rearch 172.0 level soon.
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CAD CPI forecast#USDCAD CPI Update..!
The pair are currently running with a ranging market and already broke the middle range. With an upcoming fundamental event,
I expected usdcad ready to reach the next 4H support level located at 1.35563 level. However Fvg still didn't fill. Analyze recommends opening selling at 1.3698 level. Good luck guys
use at your own risk
EUR/USD : Big Fall Ahead ? (READ THE CAPTION)By analyzing the EUR/USD chart on the 4-hour timeframe, we see that the price has started to rise exactly as we expected. It fully filled the first FVG and even about 50% of the second FVG. The overall return of this analysis has been over 85 pips. Currently, the Euro is trading around 1.072 and might start a further correction from this level. The 1.07380 to 1.07620 range is an important supply zone and should be closely monitored.
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#GBPAUD A long position would be initiated if the price could break the falling wedge pattern to the upside.
A short position would be considered if the price fails to break above the bearish channel's lower boundary and creates a lower low.
The trading scenario with the line arrow has a higher possibility of occurring.
Confirmations for the buying scenario:
Bullish divergence in the 1H time frame. 4H RSX at the oversold (OS) area.
Price testing an important daily support.
This bearish breakout of the channel could be considered an overexertion with respect to the price level.
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Gold sideways waits for important economic dataGold price cannot break the 2325 resistance level to form a short-term uptrend. Gold retreated to levels near 2310 as the US dollar tried to recover even as US Treasury yields eased again.
The release of US retail sales data on Tuesday, weekly jobless claims on Thursday and a flash purchasing managers' index on Friday could provide clarity. in terms of consumption and economic strength.
In the last two weeks, the wide range that gold is trading at is still 2340 and 2300. The lower levels of 2308 and 2325 are still keeping gold prices stable from yesterday's European session to today. In general, gold still moves sideways until the latest data from the US economy is released.
Support: 2308 - 2300 - 2291 - 2286
Resistance: 2330 - 2340 - 2350
SELL zone 2338-2340 stoploss 2343
BUY zone 2308 - 2306 stoploss 2303
Heading into 50% Fibonacci resistance?GBP/CAD is rising towards a resistance level which is a pullback resistance which aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 1.75140
Why we like it:
There is a pullback resistance level which lines up with the 50% Fibonacci retracement.
Stop loss: 1.75979
Why we like it:
There is a pullback resistance level.
Take profit: 1.73398
Why we like it:
There is a pullback support level.
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USDJPYUSDJPY analysis
Daily and weekly time frame
The trend of this currency is still upward in the weekly time frame, but it has decreased in the daily time frame. If the ceiling of the daily supply area is touched, the daily trend of this currency will be upward and we can still have higher goals for this currency pair. Support and resistance areas are marked on the chart.
EUR/USD : Potential Rebound After Entering Key Demand ZoneBy analyzing the EUR/USD chart on the 4-hour timeframe, we can see that after a significant drop, the price finally entered the demand zone between 1.067 and 1.069. Following the accumulation of liquidity below 1.06740, there was a surge in demand, and the pair is currently trading around 1.06980.
The substantial decline in EUR/USD has created numerous liquidity voids and FVGs that I expect to be filled in the short term. This movement presents potential opportunities for traders to capitalize on the market's volatility. Keep an eye on this pair, as the current dynamics might lead to intriguing price actions soon!
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
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GBPUSD Sell opportunity 1.2760 - 1.2766#GBPUSD Update..!
The pair already rejected with 4H support area successfully and retest still not confirmed. I didn't expect the pair would go up to retest high level before testing below the support area. Because Accending channel support is no longer valid.
GBPUSD Sell opportunity 1.2760 - 1.2766
GBPUSD Buy opportunity 1.2599 - 1.2695
*My trading plan. use at your own risk
Dollar's Rally Wins Over Traders as Fed Decision LoomsThe U.S. dollar capped its strongest weekly run since February, buoyed by a shift in sentiment among traders as they awaited the Federal Reserve's upcoming policy decision. After weeks of anticipation of potential interest rate cuts, the market witnessed a reversal as the greenback regained its allure.
This recent surge comes from a five-day winning streak for the Bloomberg Dollar Index, a gauge of the greenback's performance against a basket of major currencies. The index rose by over 1% during this period, marking its most significant weekly advance since early 2024.
This bullish sentiment towards the dollar is a reversal from earlier market expectations. Previously, many traders had positioned themselves for a dovish turn from the Fed, anticipating potential interest rate cuts in the latter half of the year. This anticipation has contributed to a weakening of the dollar in recent months.
However, recent economic data and comments from Fed officials have cast doubt on the likelihood of imminent rate cuts. Upticks in inflation figures and a robust labor market have fueled speculation that the central bank might maintain its current hawkish stance for longer.
"The recent economic data has painted a somewhat different picture than what the market had initially expected," noted Sarah Lopez, a foreign exchange strategist at a leading investment bank. "Stronger inflation readings and a resilient job market suggest the Fed might need to stay the course on its tightening policy for a while longer."
This shift in expectations has prompted traders to reassess their positions. Many who had previously bet on a weaker dollar are now scrambling to cover their short positions, leading to a surge in demand for the greenback.
"We've seen a significant unwinding of short dollar positions in recent days," commented Michael Jones, a currency trader at a major financial institution. "The market is starting to price in the possibility that the Fed might hold off on rate cuts, and that's giving the dollar a much-needed boost."
"The Fed's language will be critical in determining the dollar's next move," said Lopez. "If the statement suggests a continued commitment to fighting inflation, the dollar could extend its gains. However, any dovish hints could trigger a renewed selloff."
Beyond the immediate impact of the Fed decision, the dollar's long-term prospects will depend on several factors, including the relative path of interest rates in the U.S. compared to other major economies.
"The dollar's strength will likely hinge on the divergence between U.S. monetary policy and that of other central banks," explained Jones. "If the Fed remains hawkish while other central banks stay accommodative, the dollar could continue to appreciate."
The recent resurgence of the dollar has implications for various asset classes. A stronger greenback can make U.S. exports more expensive and less competitive, potentially weighing on corporate profits. Conversely, it can make dollar-denominated assets, such as U.S. Treasuries, more attractive to foreign investors.
In conclusion, the dollar's recent rally underscores the dynamic nature of currency markets. As economic data and central bank pronouncements evolve, so too do investor expectations. The upcoming Fed decision is poised to be a pivotal moment for the dollar, with its outcome likely to shape the currency's trajectory in the coming months.
NASDAQ Next week expectation #NAS100 Next week..!
The price reaches the highest level. And this should be retested. Because 13th of June reaches this price and falls down to 19,479 level.
But in a low time frame still running between the Accending channels. But the movement is bearish Because 2 times it is tested with treeline.
However once the market opens if the current 4H candle end below 19670 can go for sell to 19352 level. And the buy area located at 18753 - 18933 according to 4H timeframe
*My trading plan. Trade at your own risk good luck