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AUDNZD Will Go Higher From Support! Long! Please, check our technical outlook for AUDNZD. Time Frame: 4h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 1.101. Taking into consideration the structure & trend analysis, I believe that the market will reach 1.105 level soon. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
Gold could drop under 2600 againFor most of last week, gold exhibited choppy price action. As outlined in my Thursday analysis: "Gold could recover Monday's losses in a choppy manner, forming a flag pattern with resistance around 2660." This prediction held true in the end and, after a brief spike above the resistance level, gold began its decline. At the time of writing, the price is trading at 2624, just above short-term support. Looking ahead, I anticipate this support level will break, paving the way for a drop toward 2590 and 2575- a level that aligns with the measured target of the flag pattern. My strategy remains to sell rallies, using last Friday's high as a key resistance point for positioning.
OANDA:XAUUSDShort
by Mihai_Iacob
5
Master Forex: The Secret to Success Lies in Daily Learning👋 **Dear traders, Let me ask you this: Why are you trading Forex? 💸 Is it for financial freedom? 🏖️ To change your life? 🌟 Or simply to challenge yourself in one of the most demanding arenas on the planet? Whatever your reason, here’s the truth: If you’re not learning every single day, you’ll remain stuck in the cycle of failure. Forex isn’t a game of luck; it’s a battlefield of intellect, discipline, and adaptability. And the only way to sharpen these skills is to make daily education a habit. --- ⚡ Why Daily Learning is the Key to Success Every day in the market is an opportunity to improve. But if you trade without learning, you’re setting yourself up to repeat the same mistakes. Here’s why daily education is essential: - Deeper Market Understanding: News, price patterns, and market sentiment change constantly. Learning keeps you ahead. 📰 - Improving Your Strategy: A winning strategy today may fail tomorrow. Education helps you refine and adapt. ⚙️ - Emotional Control: Knowledge replaces fear. When you’ve studied enough, you’ll trust your decisions and avoid impulsive moves. 💪 --- 📚 How to Learn Forex Daily Effectively You don’t need to spend hours every day learning. Just 30 minutes can make a world of difference. Here’s a simple yet effective routine: 1. Start with Market News Spend 15 minutes in the morning reading reliable sources like Forex Factory or Bloomberg. Economic data like interest rates or GDP reports can have a massive impact on the market. Being informed gives you an edge. 🌍 2. Analyze the Charts Open your favorite currency pair and ask: - What’s the current trend? (Up, down, or sideways?) 🔼🔽 - Where are the support and resistance levels? 📏 - Are there any clear signals from indicators like RSI, MACD, or Fibonacci? 🔍 3. Keep a Trading Journal Write down every trade you make. Not just the results, but also your reasoning and emotions. A journal helps you understand yourself and avoid repeating mistakes. ✍️ 4. Learn One New Concept Daily Dive into topics like Fibonacci today, Order Blocks tomorrow, and Supply & Demand the next day. Small, consistent learning adds up to massive knowledge over time. 💡 --- 🎯 My Journey: From Failure to Mastery Let me share my story. There was a time when my account would bleed losses, and I didn’t understand why. I blamed the market, luck, or even the broker—never myself. But deep down, I knew the problem wasn’t out there; it was me. One day, I decided to change. I committed to learning every single day, even if just for 30 minutes. I read news, analyzed charts, kept a journal, and learned to control my emotions. Six months later, my account stopped bleeding. Instead, it started growing. Success didn’t come from a magical strategy. It came from the daily discipline of learning and adapting. --- 💪 Your Challenge: What Did You Learn Today? Ask yourself: "What have I done today to become a better trader?" If the answer is "nothing," you’re wasting your opportunity. Start now. Learn something new, reflect on your trades, or simply read market news. Success in Forex doesn’t come from luck—it comes from relentless commitment to improvement. --- Thank you for taking the time to read this article. I hope it inspires you to value the power of daily learning in Forex. Remember: Knowledge is the most valuable asset on your journey to success. Wishing you successful trades and continuous growth! 🚀
by Bentradegold
AEVOUSDT --> Just One Step Away From a Price SurgeThe AEVOUSDT chart presents an interesting scenario where price action remains constrained within a key resistance zone, but recent developments suggest the possibility of a breakout. Currently, the price is facing significant resistance near the 0.53–0.60 USDT level, a region where sellers have previously maintained control. Despite this, the chart reflects encouraging signs: the formation of a higher low (a newly established bottom) supported by an ascending trendline. This development is particularly noteworthy in the context of broader market dynamics. As Bitcoin’s dominance in the cryptocurrency market gradually diminishes, altcoins like AEVO are finding opportunities to gain momentum. This shift in capital flow creates a fertile environment for AEVO to realize its bullish potential. Before the price can decisively break through the resistance, a retest of the trendline is reasonable. This retest, likely within the 0.40–0.45 USDT range, will serve as a litmus test for the strength of buyer support. If the trendline holds, AEVO will be well-positioned to push higher, eventually targeting the 1.1 USDT mark as investor confidence builds and resistance levels are surpassed.
Long
by tradingsmithaltcoin
The Fed's decision adds complexity.World gold prices moved sideways in the context of the USD still strengthening. Recorded at 9:55 a.m. on December 3, the US Dollar Index measuring the fluctuation of the greenback with 6 major currencies was at 106,484 points (up 0.09%). Gold prices face difficulties due to the strong rise of the USD. This could be reinforced as activity in the US manufacturing sector increases. The CME FedWatch tool shows that market sentiment is quite interesting, with a 74.5% probability for a 25 basis point rate cut in the upcoming meeting. This probability is up from 52.3% last week, although down from 83% a month ago. At the same time, expectations about maintaining interest rates unchanged have also been adjusted accordingly. The Institute for Supply Management (ISM) on Monday announced that the manufacturing Purchasing Managers' Index (PMI) rose to 48.4, up from 46.5 recorded in October. Although the sector remains in contraction territory, the headline number was better than expected, with consensus forecasts only expecting the index to rise to 47.7. TVC:GOLD SELL 2647 2649 💵 ✔️ TP1: 2635 ✔️ TP2: 2625 ✔️ TP3: OPEN 🚫 SL: 2656
TVC:GOLDShort
by FalCol_TradingMaster
Gold price forecast in the near futureGold will come under further pressure if the US labor market remains strong, reducing the Fed's interest rate lowering cycle. The gold market is concerned about some of President-elect Donald Trump's policies related to the strength of the USD in the upcoming term. GDP growth at 3% and a lower trade deficit during Mr. Trump's term will not be affected by the imposition of tariffs and the weakening of the dollar. A weaker greenback will benefit gold. Many analysts predict that gold's support price of 2,600 USD/ounce will still maintain and tend to increase from there. Gold price will reach 3,000 USD/ounce next year. 🔥 OANDA:XAUUSD SELL 2647 2649🔥 💵 TP1: 2635 💵 TP2: 2625 💵 TP3: OPEN 🚫 SL: 2656
OANDA:XAUUSDShort
by FalCol_TradingMaster
EUR/USD: Strategic Short Opportunities UnveiledThe EUR/USD pair is entering a clear bearish correction phase on the 1-hour timeframe. With selling pressure from the OB Zone and strong bearish signals from the EMA indicators, the price is expected to continue moving towards lower support levels. Suggested Trading Strategy Entry Points (Short Entry): Open a short position when the price slightly retraces to the OB Zone (~1.0522-1.0538). Alternatively, consider entering a short trade if the price breaks below the nearest support level without retracing. Take Profit (TP): TP1 at 1.0460. TP2 at 1.0385. Stop Loss (SL): Place the stop loss above the OB Zone (~1.0540), as this is where the price may trigger an unexpected reversal.
Short
by Jack5cu
GOLD traded steadily, notable events and data during the dayOn the Asian market on Tuesday (December 3), OANDA:XAUUSD Spot delivery is basically stable, gold price is currently around 2,640 USD/ounce. Notable economic data and events on this trading day Today (Tuesday), the U.S. Bureau of Labor Statistics will release the Job Openings and Labor Turnover Survey (JOLTS). This important employment data is expected to cause large fluctuations in gold prices this trading day. Economists predict that there will be 7.51 million JOLT vacancies in the United States in October, compared with 7.443 million in September, the lowest level since the beginning of 2021. The JOLTS job vacancy report was one of the labor force indicators that U.S. Treasury Secretary Yellen valued most when she was chair of the Federal Reserve. This index is also labor market data that the Fed is very interested in. Gold traders will also be watching for speeches by Federal Reserve officials. On Wednesday, Fed Governor Coogler will give a speech on the labor market and monetary policy. Chicago Fed President Goolsby will give a speech. More information Trump urged BRICS countries not to try to replace the dollar and threatened to impose 100% tariffs if they did not comply. Trump's comments raised concerns that US interest rates will remain high for a long time and this will not be beneficial for non-yielding gold. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, there are almost no structural changes as gold is still maintaining very modest price activity due to the lack of fundamental breakthroughs. In terms of factors, gold is facing more pressure with the nearest horizontal resistance at 2,644 USD along with the 21-day Moving Average (EMA21), in addition, the main trend currently dominating is the downward trend. by price channel. In the short term, if gold is sold below the 0.618% Fibonacci level, it will have conditions to decrease further with a subsequent target of around 2,606 - 2,600USD, which means the nearest support in the short term is also the 0.618 Fibonacci level. % price point 2,634USD. The relative strength index is still operating below the 50 level, although it is mostly moving sideways but this should also be considered a negative technical signal. During the day, the technical outlook leans towards the possibility of price decline with notable points listed as follows. Support: 2,634 – 2,606 – 2,600USD Resistance: 2,644 – 2,663USD SELL XAUUSD PRICE 2661 - 2659⚡️ ↠↠ Stoploss 2665 →Take Profit 1 2654 ↨ →Take Profit 2 2649 BUY XAUUSD PRICE 2579 - 2581⚡️ ↠↠ Stoploss 2575 →Take Profit 1 2586 ↨ →Take Profit 2 2591
OANDA:XAUUSDShort
by Xayah_trading
2
Bitcoin breakthrough: The journey to conquer a new heightBTC/USDT is in a trend of increasing sharply after breaking down the long -term decrease. Technical factors such as new increase channels, EMA support, and important support areas have strengthened the ability to continue increasing prices. With an appropriate trading strategy, investors can take advantage of the adjustment to participate in the market, with the expectation of higher prices. However, it is necessary to comply with risk management and closely monitor the new market developments to adjust the strategy in time. Trading strategy suggested Input score (entry): Buy when the adjustment price to the first support area (~ 90,000 USDT) or when the signal appears to increase from EMA 34. Monitor candle signal like Engulfing Bullish or Pin Bar to confirm the purchase force. Short -term goal: 96,000 USDT. Medium -term target: 112,000 USDT.
Long
by tradingsmithaltcoin
Bitcoin's Bearish Outlook: Targeting the $91,000 Support ZoneBitcoin is approaching the important resistance area ($ 98,000 - $ 99,000) in its increasing channel, but weakness shows the possibility of being rejected. If BTC does not pass this level convincingly, a fake breakthrough may occur, triggering a sharp decline. The next goals are the $ 92,859, $ 90.754 support area, in accordance with the lower boundaries of the channel and the main bridge area. This area is expected to attract significant buying interest, making it an important level to be monitored.
Short
by tradingsmithaltcoin
2
XAUUSDGold prices were under pressure yesterday as the PMI news was released, which was good for the dollar and Treasury yields rose. However, gold prices were supported by the forecast of a December Fed rate cut and geopolitical tensions in Syria and Russia-Ukraine, creating a push into safe havens. Gold prices are currently moving sideways in a large range between 2633 - 2666, the nearest resistance is still at 2660 - 2665, and there is no clear trend for gold at the moment. If this Sideway zone is broken, Gold may find the nearest resistance at 2683-2688. Consider using the support at 2620 - 2625 to catch up with the uptrend of Gold. ‼️XAUUSD BUYZONE 2624 - 2626 SL 2621 TP 2628 - 2630 - open ‼️XAUUSD SELLZONE 2661 - 2663 SL 2666 TP 2659 - 2655 - 2650
OANDA:XAUUSDShort
by Jack5cu
1
GOLD's recovery is limited, pay attention to this week's dataOANDA:XAUUSD remained stable above 2,600 USD last week, mainly supported by rising geopolitical tensions, but after Donald Trump won the US Presidential election, gold was still under pressure to restrain the possibility of price increases in terms of price. Basically because the USD will be supported by Trump's victory. Regarding gold's latest recovery, after US personal consumption expenditure (PCE) data released earlier this week was in line with expectations, market expectations of an interest rate cut in May 12 by the Federal Reserve increased, pushing gold prices higher. Currently, the market is pricing in a roughly 66% probability that the Fed will cut interest rates by 25 basis points in December, a significant increase from more than 50% a week ago. Geopolitical tensions in Europe caused by Russia's missile attack on Ukraine also provided support for safe-haven assets such as gold. The Israeli military said its air force on Thursday attacked a facility in southern Lebanon used by Hezbollah to store medium-range missiles, as the two sides accused each other of violating a ceasefire despite the agreement. previous agreement. Russia on Thursday launched its second major attack this month on Ukraine's energy infrastructure, causing widespread power outages in the country. Gold is often seen as a safe investment during times of economic and geopolitical instability. Gold prices have fallen about 3% this month and hit a two-month low on November 14. This is mainly because the US Dollar has strengthened since Trump was elected and his tariff policies are believed to be likely to push up inflation, thereby slowing down the cycle of US interest rate cuts. Federal Reserve. This week the US will release key economic data including job vacancies, the ADP jobs report and the nonfarm payrolls report, which could provide guidance on the Fed's policy outlook. Economic data to watch out for this week Monday: ISM manufacturing PMI Wednesday: ADP Working Data, ISM Services PMI, Federal Reserve Chairman Jerome Powell will participate in a panel discussion at the New York Times DealBook Summit Wednesday Thursday: Claim weekly unemployment assistance Friday: US nonfarm payrolls report, preliminary University of Michigan consumer sentiment Analysis of technical prospects for OANDA:XAUUSD Gold is trying to recover but is still limited by the 0.50% Fibonacci level and EMA21. Note to readers in yesterday's edition. In terms of overall structure, gold is still inclined to a bearish outlook with the main trend from the price channel, main resistance from EMA21, while the Relative Strength Index has not yet been able to surpass 50. Because So in terms of trends and dynamics, gold still has the prospect of decreasing in price more than increasing. As long as gold remains within the price channel, it does not technically have enough room for a long-term rally, so rallies should only be considered short-term rallies. In the immediate future, if gold falls below the 0.618% Fibonacci retracement level, the next downside target will be noticed at around the original price of 2,600 USD. In summary, the technical outlook on the daily chart of gold prices leans to the downside with notable highlights listed as follows. Support: 2,606 – 2,600USD Resistance: 2,663 – 2,693USD SELL XAUUSD PRICE 2651 - 2649⚡️ ↠↠ Stoploss 2655 →Take Profit 1 2644 ↨ →Take Profit 2 2639 BUY XAUUSD PRICE 2579 - 2581⚡️ ↠↠ Stoploss 2575 →Take Profit 1 2586 ↨ →Take Profit 2 2591
OANDA:XAUUSDShort
by Xayah_trading
1
Gold → The correction is gaining momentum. The next target is 24Hello, dear traders, Ben here! Gold faced significant supply on Monday and broke a four-day winning streak, indicating that gold prices are ready to reach lower levels, such as down to 2547-2470. What has happened and what will happen? Demand for the dollar has increased at the expense of gold. At the same time, the U.S. Personal Consumption Expenditures (PCE) index for November still rose 2.8% year-over-year, higher than the forecast and the Federal Reserve's (FED) target of 2%. These factors could make the FED more cautious in continuing to cut interest rates in the short term. In the medium term, the focus is on the non-farm payroll report; if the data shows a robust labor market, the Federal Reserve (Fed) is more likely not to cut interest rates. That will boost the USD and could negatively impact gold. On the H4 chart, gold is in a local downtrend channel and below the psychological resistance level of 2643. If the bears keep the 2633-2643 region under control, gold may continue to weaken towards the 2547 - 2470 level. Technically, after a week of low liquidity due to the holidays, this metal may enter a consolidation phase, for example, in the 2643 - 2623 area, but it is still noteworthy to pay attention to the resistance and support levels from which strong moves can form...
OANDA:XAUUSDShort
by Bentradegold
EUR/USD Under Pressure!The EUR/USD exchange rate has recently declined, dropping below the 1.0500 support level. This movement was driven by renewed demand for the US dollar and political concerns in France, where fears of a potential government collapse could hinder efforts to reduce the country's budget deficit. On the monetary policy front, the Federal Reserve (Fed) recently cut interest rates by 25 basis points, bringing them to 4.75%-5.00%, aiming to bring inflation closer to its 2% target. However, Fed Chair Jerome Powell adopted a cautious tone, indicating that there is no urgent need for further cuts in the short term. Meanwhile, the European Central Bank (ECB) kept rates unchanged after its last cut in October, which brought the deposit rate to 3.25%. Despite this, inflation concerns persist, with wage growth in the Eurozone accelerating to 5.42% in the third quarter. President-elect Donald Trump’s trade policies add further uncertainty to the market. His recent demand for BRICS nations to refrain from developing or supporting new alternative currencies to the US dollar—under threat of 100% tariffs—has contributed to the dollar's strength. This stance could fuel inflation in the United States, potentially prompting the Fed to adopt a more aggressive approach, resulting in further strengthening of the dollar and additional pressure on the EUR/USD exchange rate.
Short
by Forex48_TradingAcademy
1
Market News Report - 01 December 2024After weeks of dominance, the dollar finally took a backseat. The Japanese yen was among the most bullish forces. It found strength against markets like CAD and AUD, aligning with its bullish fundamentals. Let's explore if there are notable changes in our latest market news report. Market Overview Below is a brief technical and fundamental analysis breakdown for all major currencies. US dollar (USD) Short-term outlook: weak bearish. The Fed recently cut the interest rate by 25 basis points (bps) from 5.00% to 4.75%. While labour data was down recently, this was mainly due to the impact of US hurricanes and labour disputes with Boeing. While some mildly positive economic data exists, the bearish bias remains for USD, with short-term interest rate (STIR) market pricing indicating a 67% chance of a 25 bps cut in December. Still, FOMC minutes last week suggest the Fed remains data-dependent. Keep an eye on the new Non-Farm Payrolls and unemployment announcement on Friday. While the Dixie is still quite bullish, it retraced slightly from the new key resistance at 108.071. Meanwhile, the key support is far away at 100.157, which will remain untouched for some time. Long-term outlook: bearish. A noteworthy point about the recent Fed meeting is the removal of the line "the committee has gained greater confidence that inflation is moving sustainably towards 2 percent." Finally, Powell also clarified that the US elections won't affect their future decisions. The big takeaway is that the Fed will see how fast/far they should cut rates. Jobs data this week is key to deciding the next near-term directional move for the dollar. Euro (EUR) Short-term outlook: bearish. STIR markets were predictably accurate as the European Central Bank (ECB) cut the interest rate last month. However, they remain data-dependent on what to do in the future (although they are quite concerned about slow growth). STIR markets have indicated an 87% chance of a rate cut in December (also backed by the ECB's Stournaras). Also, we have seen weaker economic data across various European nations. Another concern is that a protectionist US policy (with Donald Trump winning the recent election) could impact trade in the Eurozone, suggesting the potential for lower growth due to tariff risks. The euro has clearly broken the key support we mentioned previously (1.07774) - the next area of interest is 1.03319. Meanwhile, the key resistance remains far higher at 1.12757. Long-term outlook: weak bearish. The latest rate cut and the avoidance of indicating a clear future move for the December meeting are among the key down-trending factors. However, any improvements in economic data (according to the ECB) would be a turnaround. The threat of a fresh trade tariff with Trump is hugely influential and may cause the euro to be sold off on tariff fears. Still, negative US moves would likely result in a pullback for EUR. British pound (GBP) Short-term outlook: bearish. The Bank of England (BoE) recently cut the bank rate from 5% to 4.75% as anticipated. The language indicates they need to be restrictive and a "gradual approach" to policy easing. Governor Bailey also highlighted that rates will probably be brought down cautiously. Despite this, we saw a slight pullback in GBP/USD. This may be in line with the BoE's slightly hawkish attitude due to recent inflationary pressures. Another contributor is the latest Consumer Price Index print, which came in hotter than expected on November 20. Like other dollar pairs, GBP/USD has looked bearish for some time. After breaching the key support at 1.26165, the next area of interest is now 1.22994. Meanwhile, the resistance target is far away at 1.34343. Long-term outlook: weak bearish. The BoE sees inflation (its main concern currently) as being stickier for longer. Bailey wishes to see it down to 2%. This is a moderately hawkish hint. Overall, inflation data (and other economic) data will be important for the British pound. Finally, STIR markets indicate an 84% chance of a rate hold by the BoE later this month. Japanese yen (JPY) Short-term outlook: bullish. The Bank of Japan (BoJ) recently kept the interest rate the same at the end of October. So, our outlook remains largely unchanged. However, a rise in USD/JPY could raise the possibility of the BoJ's intervention. At the last BoJ interest rate announcement, Ueda stated that hikes would continue if the central bank's projections weren't realised. Last week, he backed up this sentiment by saying that keeping real interest rates too long for too long would lead to higher inflation, which is a hawkish suggestion. The 139.579 support area is proving quite strong, boosting the yen since mid-September. However, there has been a noticeable retracement amid this move). Still, the major resistance (at 161.950) is too far for traders to worry about. Long-term outlook: weak bullish. The BoJ's tightening stance and inflationary pressures give the yen a bullish sentiment. The central bank wishes to avoid further JPY weakness, with Finance Minister Kato warning against 'excessive FX moves.' We should also keep an eye on US Treasury yields, as rising yields could derail JPY upside. Conversely, any declines in US yields would likely provide a major boost to the yen. Australian dollar (AUD) Short-term outlook: neutral. The Reserve Bank of Australia (RBA) kept its interest rate unchanged recently, marking the eighth consecutive hold. They emphasised that policy will remain restrictive until inflation moves toward its target. The RBA also lowered its GDP forecasts while the labour market remains tight. The dollar remains dominant against the Aussie, as AUD/USD looks to test the key support at 0.63484. Meanwhile, the key resistance level lies far ahead at 0.69426. Long-term outlook: weak bullish. While the RBA suggests that rate hikes won't be necessary going forward, it hasn't ruled anything out. Governor Bullock recently mentioned that they would act if the economy dropped more than desired. It’s crucial to be data-dependent on the Aussie, especially with core inflation as the RBA's key focus area. Also, the Australian dollar is procyclical, with particular exposure to China's geopolitics. Trump's recent win in the US election means the prospect of trade tariffs with China has increased (potentially causing headwinds for AUD). New Zealand dollar (NZD) Short-term outlook: weak bearish. The Reserve Bank of New Zealand (RBNZ) cut its interest by 50 bps to 4.25% as expected last week, the same as in October. It also signalled further reductions for early next week while remaining confident that inflation will remain in the target zone. However, risks of increased inflation volatility and relative price unpredictability remain. The Kiwi has been on a notable downward spiral, proving the strength of the major resistance level at 0.63790. NZD/USD isn't far from the key support at 0.57736, reaffirming this bearish market. Long-term outlook: bearish. Governor Orr indicated in the last RBNZ meeting that a 50 bps cut in February 2025 is possible. So, we can rule out a rate hike, more so with potential trade tariff issues between China and the United States. These can cause headwinds for NZD and AUD. Canadian dollar (CAD) Short-term outlook: bearish. The Bank of Canada (BoC) unsurprisingly delivered a 50 bps cut a few weeks ago. Further cuts remain on the cards, with the long-term target being 3%. The BoC is signalling victory over inflation due to the cuts, with Governor Macklem suggesting that they would probably cut further until they achieve the optimal low inflation. In their words, 'stick the landing.' Overall, the bias remains bearish - expect strong rallies in CAD to find sellers. While the short-term fundamental biases of USD and CAD are bearish, CAD is the weakest on the charts. USD/CAD has finally exceeded the key resistance at 1.39468. While the new target in the meanwhile is 1.41058, let's see what happens around the former area in the coming weeks. Meanwhile, the key support lies far down at 1.34197. Long-term outlook: weak bearish. Expectations of a rate cut remain the focal point, with STIR markets indicating a 67% chance of a 25 bps cut and a 33% chance of a 50 bps cut in December. The Bank of Canada has recognised the lower economic growth, and Macklem wishes to see this improve. Furthermore, any big misses in upcoming GBP, inflation, and labour data would send CAD lower. Still, encouraging oil prices and general economic data improvement would save the Canadian dollar's blushes - the opposite is true. Swiss franc (CHF) Short-term outlook: bearish. STIR markets were, as usual, correct in their 43% chance of a 25 bps rate cut (from 1.25% to 1%) recently. In the Sept. 26 meeting, the Swiss National (SNB) indicated its preparedness to intervene in the FX market and further rate cuts in the coming quarters. The October CPI was weak at 0.6% (another poor result, as for the September data). Finally, the central bank's new Chair (Schlegel) said they "cannot rule out negative rates," further stating that the SNB would be ready to implement this if needed. Still, the Swiss franc can strengthen during geopolitical tensions like a worsening Middle East crisis. USD/CHF keeps rising steadily towards the major support level at 0.83326, while the major resistance level is at 0.92244. Long-term outlook: weak bearish. The bearish sentiment remains after the last SNB meeting, while inflation is being tamed with lower revisions. We should also remember that the SNB's intervention prevents the appreciation of the Swiss franc. The new chairman is more keen to cut rates than his predecessor, Jordan. The SNB aims for neutral rates between 0 and 0.50% (currently at 1%). However, STIR markets only see a 30% chance of a 50 bps cut and 70% chance of a 25 bps cut next month. Conclusion In summary: The US dollar still remains one of the key currencies to watch, given the recent elections and Trump's potential to affect trade relations with the likes of Australia and New Zealand. However, the Japanese yen is another considerable option due to its recent bullish momentum. The US NFP and unemployment rate are the main high-impact economic events to watch for this week. Our short and long-term fundamental outlooks remain largely unchanged from the last few months. The only exception is the Australian dollar, where we have changed from 'weak bullish' to 'neutral.' As always, hope for the best and prepare for the worst. This report should help you determine your bias toward each currency in the short and long term.
TVC:DXY
by CityTradersImperium_CTI
SPX500USD Will Go Up From Support! Buy! Here is our detailed technical review for SPX500USD. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 6,031.9. Considering the today's price action, probabilities will be high to see a movement to 6,180.5. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
OANDA:SPX500USDLong
by SignalProvider
1
GOLD Will Go Lower! Sell! Take a look at our analysis for GOLD. Time Frame: 3h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 2,643.39. Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 2,619.84 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
CAPITALCOM:GOLDShort
by SignalProvider
1
GBPUSD Will Move Higher! Long! Here is our detailed technical review for GBPUSD. Time Frame: 2h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 1.271. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 1.277 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1