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CHFJPY: Technically topped. Short opportunity.CHFJPY is on bullish 1D technicals (RSI = 59.579, MACD = 1.000, ADX = 53.750) but for the past 2 days have deen declining. This suggests that the top is has been priced and a technical pullback is to follow. The 1D MACD is on the verge of a Bearish Cross. All previous uptrend corrections hit or came close ot the 0.618 Fib. Consequently, we turn bearish on the short term (TP = 170.000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
Gold will above 2687 2695 read the caption price came just ticks ahead of new record high ($2685) during European trading on Wednesday, in fresh extension of bull-leg from $2602 higher low of Oct 10 and the bottom of corrective phase from $2685. The metal remains strongly supported by growing prospects for global monetary policy easing, geopolitical tensions and uncertainty surrounding nearing US election. Although the Fed officials are divided on the number of rate cuts until the end of the year, the central bank remains on track for more policy easing
OANDA:XAUUSDLong
by Mrsam36
2
Gold will above 2687 2695 read the caption price came just ticks ahead of new record high ($2685) during European trading on Wednesday, in fresh extension of bull-leg from $2602 higher low of Oct 10 and the bottom of corrective phase from $2685. The metal remains strongly supported by growing prospects for global monetary policy easing, geopolitical tensions and uncertainty surrounding nearing US election. Although the Fed officials are divided on the number of rate cuts until the end of the year, the central bank remains on track for more policy easing
OANDA:XAUUSDLong
by Mrsam36
GBPJPY Potential Trend ContinuationThe market is currently testing a key psychological support level at 193.000 after a period of consolidation following recent bullish momentum. If GBPJPY closes above the 194.000 level, it could indicate continued upward movement, setting the stage for a retest of the resistance zone above this level. Given the recent bullish sentiment, a clear break and close above 194.000 would likely signal further bullish moves, potentially pushing the price toward higher levels within the resistance zone. The target is the resistance at 194.500
Long
by RTED_Investing
EURUSD Possible further Drop after a small up correctionThe market broke through the 1.1000 round number following the negative NFP data for EURUSD, pushing the price below the September low. There's a strong possibility it could retest the next round number at 1.0900. The weekly candle reflects growing bearish momentum, and zooming out reveals that this level has historically acted as a key support multiple times. If the price is rejected at this resistance zone again, it could signal further bearish movement. The overall outlook remains bearish as long as the price stays below 1.1000. The target is the support level at 1.09050
Short
by RTED_Investing
Gold will knock 2700 confirm read the caption There hasn’t been any catalyst this week for the rally in gold although we had a key technical breakout which might have increased the bullish momentum. The lack of bearish catalysts though is helping to keep the bid going as the market has finished to reprice the aggressive rate cuts expectations that weighed on gold in the past weeks as it contributed to lift real yields. In fact, in the bigger picture, gold remains in a bullish trend as real yields will likely continue to fall amid the Fed’s easing cycle. The pullbacks will likely be triggered by a repricing in rate cuts but unless the Fed’s reaction function changes, the uptrend should remain intact
OANDA:XAUUSDLong
by Mrsam36
EURUSD: Channel Down on 1H giving two trades.EURUSD is almost oversold on its 1D technical outlook (RSI = 30.958, MACD = -0.004, ADX = 45.308) as it has been on a non-stop decline, which is even more effectively displayed on the 1H chart. You can see the flawless Channel Down making -0.90% Bearish Waves and then pulling back to the 0.5 Fibonacci only to get rejected again under the 1H MA100. This gives a potential double trade, initally with a short now to complete the -0.90% wave (TP = 1.08555) and then long to the 0.5 Fib (TP = 1.09000). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
Safe-haven demand on geopolitical tensions in the Middle East wi, the breakout of the USD and strong economic data could have pushed gold down further, but in fact, the recent decline of gold has been relatively shallow. That shows that the buying power of the yellow metal has not ended yet. Some other analysts said that although the price of gold has increased to 2,650 USD/ounce, the highest level in many weeks after the US announced the production index (PPI) at the end of last week, gold will still face difficulties in the coming time due to pressure from the USD and stronger bond yields.
OANDA:XAUUSD
by NicoTradingMaster
NZDUSD BUY | Idea Trading AnalysisNZD/USD is falling towards a support level which is a pullback support and could bounce from this level to our take profit. We expect a decline in the channel after testing the current level which suggests that the price will continue to rise Hello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great BUY opportunity NZDUSD I still did my best and this is the most likely count for me at the moment. ------------------- Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad
Long
by TheGrove
7
USDCAD Potential Drop after rejection from crossing of ResistancUSDCAD has been steadily climbing since the start of October, with nine consecutive bullish days. The price has now reached significant levels on both the weekly and daily timeframes. However, as it nears the resistance area, the candles are shrinking, signaling a potential loss of momentum. Zooming out, it's evident that the price has dropped from the 1.38500 resistance multiple times in the past. This suggests the potential for at least a short-term pullback. If a rejection candle forms, we could expect the price to move lower. Given that today's news is packed with CAD-related data, volatility is expected, possibly leading to large wicks in both directions. The target is the support level at 1.36650
Short
by RTED_Investing
GBPJPY → Trade Analysis | SELL SetupGBPJPY s moving to the upper boundary of the ascending channel. The volatility of the movement has decreased. The price has reached the resistance level. Hello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity GBPJPY I still did my best and this is the most likely count for me at the moment. ------------------- Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
Short
by TheGrove
8
USDCAD SellUSDCAD looks like a sell on the H4 and has been moving steadily down from my last entry in UC. I believe that there will be a potential double top move looking to move towards the 1.37800s and since we are within that range it is clearly looking for prior price action to do a pullback or continue the reversal pattern of a downtrend. I am looking for this mainly to be a day trade, however, I will also be placing a swing trade for my other trading accounts to bare in mind to also use PROPER risk management. RSI also indicates that we are long overdue a major short and will see it within the next few candles how far USDCAD can go. I also have spotted trend patterns go back to July 25th of this year and it extending all the way down for a month straight crashing USDCAD all the way down till the very bottom of the RSI. ENTRY: 1.37951 TP 1 (Day Trade): 1.1.36230 TP 2 (Swing Trade): 1.35434 TP 3: (extended swing trade) 1.34396 SL: 30 Pips from entry Please message me if you have any questions! Please enjoy your day and be sure to follow our page!
Short
by KingTraderFX
2
Xauusd sell signal Gold price attracts some dip-buying on the first day of a new week and trades near a one-week top, around the $2,660 region heading into the European session. The US PPI pointed to a favorable inflation outlook and suggested that the Fed will cut interest rates further. Any subsequent slide is likely to find some support near the $2,632-2,630 region, below which the Gold price could accelerate the fall towards the $2,600 round-figure mark. A convincing break below the latter will be seen as a fresh trigger for bearish traders and pace the way for some meaningful downfall. The XAU/USD might then drop to the next relevant support near the $2,560 zone and extend the decline towards the $2,535-2,530 region en route to the $2,500 psychological mark. Gold now sell 2660 Target 2642 Target 2628
OANDA:XAUUSDShort
by JohnHarry_7
Gold today analysis confirm buy target read the caption This disappointment was followed by China’s consumer and factory-gate price inflation data on Sunday, which showed the extension of the disinflation trend in the world’s biggest consumer, sapping investors’ confidence. Additionally, intensifying geopolitical tensions between Israel and Iran and also between China and Taiwan remain a cause for concern for investors, and hence, they scurry for safety in the USD at the expense of the Gold pri
OANDA:XAUUSDLong
by Mrsam36
EUR/USD May Fall 23 - 38 Pips (READ DESCRIPTION)EUR/USD May Fall 23 - 38 Pips Pivot Point: 1.0950 The 1.0950 pivot point is a key resistance level. It represents the dividing line between bullish and bearish trends. As long as the price remains below this level, sellers are likely to be in control, pushing the pair lower. A break above 1.0950 would shift the focus to the upside. Primary Strategy (Our Preference): Entry Point: Short positions should be considered below 1.0950. Target Levels: 1.0900: The first key support level, marking a 50-pip decline from the pivot. This is an important psychological barrier where buyers could start stepping in. However, if the selling pressure is strong, this level could be breached. 1.0885: The next potential support, marking a further 15-pip drop from 1.0900, representing a 65-pip decline from the pivot level. Alternative Scenario: If EUR/USD breaks above the pivot point of 1.0950, look for buying opportunities. Entry Point: Long positions should be initiated if the price breaks and holds above 1.0950. Target Levels: 1.0965: The first upside resistance target, marking a 15-pip rise from the pivot. If the buying momentum is sustained, the pair is likely to test this level first before moving further up. 1.0980: The next resistance zone, marking a 30-pip upside move from the pivot. Breaching this level could signal the beginning of a larger uptrend. Technical Outlook: RSI (Relative Strength Index): The RSI is likely below its neutral 50 level, indicating that the bearish momentum is currently stronger. This suggests that sellers are in control, but if the RSI approaches oversold levels (below 30), a reversal might be on the cards. MACD (Moving Average Convergence Divergence): The MACD is expected to be negative and below its signal line, reinforcing the bearish outlook. If the MACD line starts to flatten or move upward, it could signal a weakening of the downtrend. Moving Averages: EUR/USD is likely trading below both its 20-period and 50-period moving averages, indicating both short-term and medium-term weakness and supporting the bearish scenario. Market Dynamics: As long as EUR/USD remains below the pivot point at 1.0950, expect a choppy but overall bearish price action. Sellers are likely to step in at any short-term rallies, pushing the pair lower toward 1.0900 and potentially 1.0885. The area around 1.0900 and 1.0885 represents key support levels where buyers may attempt to step in. If bearish momentum persists, these levels could break, leading to further downside. A break above 1.0950 would indicate a potential shift in market sentiment, opening the door for a move higher towards 1.0965 and 1.0980.
by CharivapaAlgo
XAU short term trend predictionGold did not receive support from economic news or data last week but still maintained a stable price. The US consumer price index in September 2024 did not meet the expected growth rate. The number of unemployment claims in the US increased to 258,000, higher than the forecast of 230,000. The market is closely watching the next economic reports from the US to predict the possibility that the US Federal Reserve (Fed) will cut interest rates next month. There is an 80% chance that the Fed will cut interest rates by 25 basis points in November, while there is a 20% chance that interest rates will be kept unchanged. Lowering interest rates can reduce the opportunity cost of holding gold, thereby supporting gold prices.
TVC:GOLD
by NicoTradingMaster