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EURUSD Down Trend ContinuationEURUSD has opened with an upward gap and is moving toward a significant resistance zone within a larger bearish trend. If the market meets resistance here and rejects both the resistance zone and the upper border of the descending channel, it may indicate an impending bearish reversal. Historically, this level has acted as a strong resistance, with price bouncing off it multiple times, which reinforces the likelihood of another rejection. There is potential for a push above last week’s high as an initial move to gather liquidity, followed by a bearish reversal aiming to fill the recent gap. If this scenario unfolds, the target would be the support zone around 1.08510, aligning with the gap-filling objective and providing a solid level for further downside momentum
Short
by RTED_Investing
EURUSD Bottom made. Now rally until end of year.The EURUSD pair eventually fulfilled all of our bearish signals since the September top, with the most recent one (November 11, see chart below) successfully hitting our 1.05300 Target: We are now shifting to a long-term bullish sentiment after a long time, as the price finally reached the 1.05185 - 1.04500 Support Zone, which is holding for almost 2 years (since early January 2023). The 1W RSI is virtually identical to the July - September 2023 Bearish Leg, on which we based all of our sell signals, as it was identified from early on that the similarities between the two were strong (1D chart). Now that the 1.236 Fibonacci extension got hit, we expect the bullish reversal to reach at least the 0.5 Fibonacci level, as it happened on November 20 2023. As a result, our Target is currently 1.09400. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
Bearish drop?The Swissie (USD/CHF) has reacted off the pivot and could drop to the 1st support which acts as a pullback support. Pivot: 0.8917 1st Support: 0.8824 1st Resistance: 0.8991 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.
Short
by ICmarkets
Falling towards 78.6% Fibonacci support?The Cable (GBP/USD) is falling towards the pivot which has been identified as an overlap support that lines up with the 78.6% and could bounce to the pullback resistance. Pivot: 1.2549 1st Support: 1.2376 1st Resistance: 1.2686 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.
Long
by ICmarkets
Falling towards pullback support?The Fiber (EUR/USD) is falling towards the pivot which is a pullback support and could bounce to the 1st resistance which has been identified as a pullback resistance. Pivot: 1.0463 1st Support: 1.0325 1st Resistance: 1.0600 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.
Long
by ICmarkets
Bullish bounce off pullback support?US Dollar Index (DXY) is falling towards the pivot which acts as a pullback support and could bounce to the 1st resistance which has been identified as a pullback resistance. Pivot: 106.08 1st Support: 105.16 1st Resistance: 107.33 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.
TVC:DXYLong
by ICmarkets
XAUUSDHello Traders! 👋 What are your thoughts on GOLD? Gold, after its recent decline, is approaching a support zone. The downtrend is expected to continue until it reaches this support level. If buyers show a positive reaction at this area, we may see an upward correction, potentially reaching higher resistance levels. If this correction occurs, it could present a selling opportunity for traders around resistance, as there may be a continuation of the downtrend after the correction. Don’t forget to like and share your thoughts in the comments! ❤️
OANDA:XAUUSDShort
by HAMED_AZ
10
XAUUSD Buy confirm 200pipsGold extended its decline, breaking below a major trendline and reaching new lows in the $2,530s on Thursday, after a combination of higher US factory-gate inflation data, lower US unemployment claims data and upbeat commentary from Fed Chairman Powell. Gold bounces off its (blue) 100-day Simple Moving Average (SMA) and attempts a recovery. Still, the precious metal is in a short and probably medium-term downtrend. This, given the principle of technical analysis that “the trend is your friend,” favors a continuation lower. (XAU/USD) trades little changed on Friday, holding steady in the $2,560s after making a slight recovery from the two-month lows reached on the previous day.
OANDA:XAUUSDShort
by KingForex078
Falling towards overlap support?GBP/USD is falling towards the support level which is an overlap support that aligns with the 78.6% Fibonacci retracement and could bounce from this level to our take profit. Entry: 1.2528 Why we like it: There is an overlap support level that is an overlap support which aligns with the 78.6% Fibonacci retracement. Stop loss: 1.2335 Why we like it: There is an overlap support level. Take profit: 1.2676 Why we like it: There is a pullback resistance. 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.
Long
by VantageMarkets
Bearish drop?USD/JPY is rising towards the resistance level which is an overlap resistance that is slightly above the 23.6% Fibonacci retracement and could reverse from this level to our take profit. Entry: 154.69 Why we like it: There is an overlap resistance level that is slightly above the 23.6% Fibonacci retracement. Stop loss: 155.23 Why we like it: There is an overlap resistance level that is slightly below the 50% Fibonacci retracement. Take profit: 153.90 Why we like it: There is an overlap 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.
Short
by VantageMarkets
1
Gold buy momentum here is opportunity read the caption From the long-term Elliott wave perspective, price appears to be correcting the bullish cycle that started in October 2023 when Gold was exchanged for 1810. After completing wave (IV) of the supercycle degree in September 2022, Gold rallied to complete waves I and II of (V) in May 2023 and October 2023 respectively. Thus wave III of (V) started in October 2023 at 1810. However, it appears wave III has not finished yet. The current pullback is expected to either be in wave ((4)) of III already or wave (4) of ((3)) of III. The most important task now is to note what
OANDA:XAUUSDLong
by Mrsam36
NZSDUSD Bottom of the 1-year Rectangle. Strong buy.The NZDUSD pair gave us a solid sell signal on our last idea (September 04, see chart below) as it respected the 1-year Rectangle pattern, stayed within its Resistance and Support levels and easily hit our 0.6000 Target: The price hit yesterday the top of the 1-year Support Zone (0.58500) and is reacting today positively with the first green 1D candle in 6 days. The 1D RSI has double bottomed on the 30.00 oversold barrier as on April 14, so we have a strong case for going long with huge reward and limited risk. Notice how we are about to form a 1D Death Cross and the last two such patterns coincided with the bottoms on the Support Zone. As a result, we are now long, targeting 0.6200, which is considerably below the 0.786 Fibonacci retracement, the level that all previous Bullish Legs hit. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
GBPUSD Start thinking of buying. Will find support soon.The GBPUSD pair couldn't have given us a better sell signal last time we looked into it (October 09, see chart below) as it broke first below the 1D MA50 (blue trend-line) then the Bullish Megaphone and is very close to our 1.2550 Target: We are approaching the stage where selling becomes far riskier than buying as the pair is approaching the 0.786 Fibonacci retracement level, which on the September - October 2023 fractal (that has been the basis of our previous sell strategy), formed the bottom and initiated a Channel Up to the (orange) 0.618 Fib. Even the 1D MACD indicates that we are probably a few days before this bottom is formed and will be confirmed with a Bullish Cross. As a result, we are prepared to take this long and target 1.3100 (the 0.618 Fib). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
Heading into pullback resistance?EUR/CAD is rising towards the pivot and could reverse to the 1st support. Pivot: 1.48819 1st Support: 1.47444 1st Resistance: 1.49827 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.
Short
by ICmarkets
USD/JPY Analysis on the 1-Hour ChartIn this analysis of USD/JPY, we are currently observing an uptrend, with buyers maintaining control of the market. A key support zone, marked in green, has been identified as an area where buyers have previously stepped in to push the price higher. While the price is not currently in this zone, our strategy anticipates a potential pullback to this support level. If the price returns to this green zone, it could attract buyers again, leading to a potential upward movement in line with the prevailing trend. Trading Plan: Long Positions: If the price retraces to the green support zone, look for confirmation of buyer interest, such as bullish candlestick patterns, an increase in buying momentum, or positive divergence. These signals could provide an opportunity to enter long positions. Stop Loss: Place a stop loss slightly below the green support zone to manage risk in case the support fails to hold. Profit Target: The first target would be the previous resistance level or the next significant resistance zone, where sellers may return. This approach allows us to trade with the trend while maintaining a disciplined risk management strategy. Monitoring the price action closely around the green support zone is crucial for executing this idea effectively.
Long
by rebenga93