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Analyzing NMR Bullish Symmetrical Pattern: Breakout ForecastThe NMRUSD pair holds strong support at $11.80, presenting significant potential for a bullish move. If this support level holds, we can expect a notable gain. However, if this support breaks, the next strong support is at $10.66, where a bounce is anticipated due to the proximity of a bull run and the nearing approval of the ETH ETF. We can expect market bullishness in Q4 2024, accompanied by high volatility and substantial rises typical of bull runs. Anticipated Bull Run Targets: Based on historical data and calculations, NMRUSD's minimum target during the bull run is projected at $360. If it can flip the $360 resistance by February 2025, we might see a maximum target of $1000. NMRUSD, listed in 2017, has formed a symmetrical triangle pattern expected to break out during the 2025 bull run. Historically, prices have shown unexpected pumps during bull markets, and similar volatility is expected this time. Strategic Long Position Management: Considering the resistance zones and the potential pattern breakout, it is crucial to maintain active trades while monitoring these levels. Plan to exit long positions around March or November 2025, as the bull run is likely to end during this period. For continuous updates and in-depth analysis, follow us on TradingView to stay ahead with our trading ideas and market insights.
CRYPTO:NMRUSDLong
by Houseofcryptokings
Market News Report - 07 July 2024The US dollar fell significantly this past week, a stark contrast to the one prior. As is often the case at the start of any month, the NFP (Non-Farm Payrolls) was a chief talking point, which unfortunately went against the greenback. Meanwhile, the Japanese yen continues its losing streak despite favourable fundamentals. In our latest report, let's cover these pairs and the rest of the FX market. Market Overview Below is a brief technical and fundamental analysis breakdown for all major currencies. US dollar (USD) Short-term outlook: bearish. Our short-term outlook has changed from 'weak bearish' to a confident 'bearish.' As mentioned in last week's overview, news concerning NFP and the ISM (Institute for Supply Management) index resulted negatively. Furthermore, the latest month-on-month CPI (Consumer Price Index) came in lower than expected. The Federal Reserve's hawkish tone remains another bearish driver. The key news to diarise concerning USD is the new inflation rate on Friday. The chart goes along with the above sentiment, with the 'Dixie' breaking multiple minor support levels this past week. Still, the major support level is 103.993, while the major resistance is 106.490. Long-term outlook: bearish. With markets anticipating at least two rate cuts by the Fed for the remainder of the year, the bearish bias is justified. The latest CPI and NFP data also add fuel to this fire. Only geopolitical risks and bond market selling can affect this overall sentiment. Euro (EUR) Short-term outlook: weak bearish. STIR (short-term interest rate markets) have priced in a hawkish move in the European Central Bank's (ECB) interest rate decision next week. Finally, the ECB's President, Christine Lagarde, hinted at a 'strong likelihood' of 'dialling back.' As stated in our last report, the French elections can also affect the euro. After nearing major support at 1.06494 for a few weeks, the euro is now firmly on its way to test the opposite major resistance at 1.09160. This was mainly caused by USD weakness. Based on this recent price action, the market is more likely to move in the north instead of the south direction. Long-term outlook: weak bearish. The interest rate is the primary bearish driver for the euro. Yet, any improvement in fundamentals like wage data can lift the euro over time. British pound (GBP) Short-term outlook: bearish. The Bank of England (BoE) continues to show dovish tendencies, with STIR (short-term interest rate) markets envisioning a 43% chance of a BoE rate cut next month. Furthermore, a negative result is forecasted for the upcoming GDP data on Thursday. Surprisingly, the GBP/USD chart sings a different tune thanks to USD bearishness. The price is close to testing the key resistance at 1.28606 while unlikely to reach the key support far below at 1.24457 anytime soon. Long-term outlook: bearish. The interest rate is the chief bearish driver for the pound amid an unfavorable economic outlook. So, GBP is likely to find sellers as expectations for the potential rate cut in August grow. Japanese yen (JPY) Short-term outlook: weak bullish. The Bank of Japan’s (BoJ) recent decision to keep the interest rate unchanged is mildly bullish for the yen. Governor Ueda also stated, "depending on economic, price, and financial data and information available at the time, there is a chance we could raise interest rates at the July meeting." Moreover, STIR markets see a 60% chance of a rate hike in the meeting at the end of July. Unfortunately, JPY bulls should know that the BoJ does things rather slowly, partly explaining why the yen chart goes against the fundamental outlook. USD/JPY made another all-time high in the past week. While the new resistance (of 161.950) is not a major level, it's one to watch out for going forward. Ultimately, this market is very bullish, and it would take many months to reach the key support area at 154.546. Long-term outlook: weak bullish Aside from the expected rate hike, other bullish catalysts for the yen include a potential lowering in US Treasury yields. Given the yen's continued beating on the charts, expect Japan's Ministry of Finance to intervene in the near future to save the currency. Australian dollar (AUD) Short-term outlook: weak bullish. Due to persisting inflation highlighted by the Reserve Bank of Australia (RBA), the central bank has enough reasons to keep or hike the interest rate next month. The CPI print at the end of July is another consideration, with expectations of a positive outcome. Finally, the Australian dollar shares an interesting correlation with China. Data indicating growth in this region (e.g., stimulus, new infrastructure projects, solid economic data) should lift the Aussie. After some sideways movements since May, the Aussie finally broke the major resistance mentioned last week (0.67141). The next target (last reached at the end of last year) lies ahead at 0.68711. Meanwhile, the major support remains far below at 0.65761. Long-term outlook: weak bullish. The hot CPI for Q1 and April has pressured the RBA to increase rates, which they recognised in their meeting last month. Furthermore, STIR markets anticipate a 33% chance of a hike. On the other hand, the Australian dollar is exposed to slow economic growth in other countries because it is a pro-cyclical currency. New Zealand dollar (NZD) Short-term outlook: weak bullish. The Reserve Bank of New Zealand (RBNZ) is battling inflation like its neighbouring central bank. So, there is an incentive to be hawkish. However, STIR markets see a 93% chance of a rate hold at the next decision meeting on Tuesday. The Kiwi has begun its overdue u-turn on the charts following a mild drop in prior weeks. 0.62220 is the major resistance to closely watch, while the key support remains at a level considerably lower at 0.58746. Long-term outlook: weak bullish. The hawkish stance suggested by the RBNZ is the key bullish catalyst. Still, any out-of-consensus CPI prints in the near term and sensitivity to other global economies like China could derail the currency. Canadian dollar (CAD) Short-term outlook: bearish. STIR markets indicate a 50/50 chance for the Bank of Canada to cut rates on 24 July 2024. The Governor of the Bank of Canada (BoC), Macklem, has also suggested this would happen if inflation became stickier. Realistically, the BoC will drop rates slowly now or aggressively later. However, recent CPI numbers were all positive for the Canadian dollar, hence the 'weak bearish' outlook. CAD remains in full-on range mode, as it has done over the past few weeks. However, the recent price action does bring this market closer to the major support at 1.35896. Of course, there is no telling whether USD/CAD will revert to or near this level. On the other hand, the key resistance is at 1.37919. Long-term outlook: weak bearish. Expectations of a rate cut remain the centre of attention, along with the bearish catalysts associated with CAD as a risk-sensitive currency. However, encouraging oil prices may redeem the Canadian dollar. Swiss franc (CHF) Short-term outlook: bearish. With a 76% chance of the Swiss National Bank (SNB) cutting the interest rate recently, STIR markets were accurate. Secondly, SNB expects a moderate improvement in inflation, GDP (Gross Domestic Product) and unemployment to rise slightly in the near term. However, the Swiss franc can strengthen during geopolitical tensions, such as with the Middle East crisis. Following a considerable rise from the key support at 0.88268, USD/CHF has retraced quite a bit. Meanwhile, the key resistance lies at 0.91582. This market can go either way with such a wide gap between the two points. However, it's best to seek other pairs where CHF has a weaker outlook than its quote or base currency. Long-term outlook: weak bearish. The expected rate cut in the next SNB meetings for 2024 is the main bearish driver. However, the SNB's chairperson, Thomas Jordan, expressed that "appreciation of the Swiss Franc has an impact on monetary policy." This means that potential intervention by the central bank can go either way. Conclusion This coming week is another compelling one for high-impact news events. New inflation, GDP, and interest rate figures are set to be announced for the US dollar, British pound, and New Zealand dollar, respectively. So, traders who participate in any of these markets should be mindful. Always be prepared technically and fundamentally when trading forex - that's the purpose of our weekly reports.
TVC:DXY
by CityTradersImperium_CTI
GOLD ROUTE MAP UPDATEHey Everyone, Great start to the week with our 1H chart tracking, as analysed. As stated yesterday we are seeing price test 2390 Goldturn and will need to see ema5 lock above to open the levels above or a failure to lock will follow with a rejection. - No lock confirmed the rejection into the 2378 weighted level, followed with a cross and lock below 2378 opening the retracement range. This was hit perfectly with price now in the retracement range, which is giving the calibrated 40 pips bounce, as analysed and shared part of our plans. We will now need ema5 to lock below this level to open the swing range or a failure to lock below will see a re-test on the Goldturns above. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. EMA5 CROSS AND LOCK ABOVE 2390 WILL OPEN THE FOLLOWING BULLISH TARGET 2403 EMA5 CROSS AND LOCK ABOVE 2403 WILL OPEN THE FOLLOWING BULLISH TARGET 2414 2425 BEARISH TARGETS 2378 - DONE EMA5 CROSS AND LOCK BELOW 2378 WILL OPEN THE FOLLOWING BEARISH TARGETS BEARISH TARGETS 2364 - DONE 2355 - DONE EMA5 CROSS AND LOCK BELOW 2355 WILL OPEN THE SWING RANGE SWING RANGE 2333 - 2322 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
10
APOLLO HOSPITAL / SWING TRADE # GOOD STRONG CLOSE #TRADING OUTSIDE A CONSOLIDATION ZONE # SL 6300 ALWAYS TAKE RISK REWARD IN TO ACCOUNT .IT IS THE CORE STRENGHT OF TRADING. NO MATTER WHAT END OF THE DAY WHAT YOU EARN - WHAT YOU LOSE =RETURNS "Investing in the stock market involves balancing risk and reward. Higher potential returns typically come with higher risk, while safer investments may offer lower returns. It's essential to assess your risk tolerance and investment goals carefully. Diversifying your portfolio can help manage risk. Remember, informed decisions and a long-term perspective are key to navigating the complexities of the market."
NSE:APOLLOHOSPLong
by varunprakashmr
SYNGENE / SWING TRADE# STOCK TRADING ABOVE TRIANGLE PATTERN IN 30 MIN CHART # TAKING SUPPORT FROM SMA 21 #SL 705 ALWAYS TAKE RISK REWARD IN TO ACCOUNT .IT IS THE CORE STRENGHT OF TRADING. NO MATTER WHAT END OF THE DAY WHAT YOU EARN - WHAT YOU LOSE =RETURNS "Investing in the stock market involves balancing risk and reward. Higher potential returns typically come with higher risk, while safer investments may offer lower returns. It's essential to assess your risk tolerance and investment goals carefully. Diversifying your portfolio can help manage risk. Remember, informed decisions and a long-term perspective are key to navigating the complexities of the market."
NSE:SYNGENELong
by varunprakashmr
GOLD 1H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing price test 2390 Goldturn between two weighted level range. We have 2390 Goldturn resistance and 2378 Goldturn support weighted levels. We will see levels within this range tested side by side until one of the weighted levels break to confirm direction for the next range. We will need ema5 to lock above 2390 to confirm the range above. We also have 2378, 2364 and 2355, as the retracement area and will need ema5 lock below this to open the swing range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. EMA5 CROSS AND LOCK ABOVE 2390 WILL OPEN THE FOLLOWING BULLISH TARGET 2403 EMA5 CROSS AND LOCK ABOVE 2403 WILL OPEN THE FOLLOWING BULLISH TARGET 2414 2425 BEARISH TARGETS 2378 EMA5 CROSS AND LOCK BELOW 2378 WILL OPEN THE FOLLOWING BEARISH TARGETS BEARISH TARGETS 2364 2355 EMA5 CROSS AND LOCK BELOW 2355 WILL OPEN THE SWING RANGE SWING RANGE 2333 - 2322 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
19
GOLD 4H CHART ROUTE MAP & TRADING PLAN FOR THE WEEK Hey Everyone, Please see our updated 4h chart levels and targets for the coming week. We are seeing price between two weighted levels. We have 2397 Goldturn resistance and 2385 and 2376 as Goldturn support levels with 2397, as weighted resistance and 2376, as weighted support. We will see levels within this range tested side by side until one of the weighted levels break to confirm direction for the next range. We have 2397 open gap and will need ema5 to lock above 2397 to confirm the range above. We also have 2376 as the weighted support area and will need ema5 lock below this level to open the retracement range below. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2397 EMA5 CROSS AND LOCK ABOVE 2397 WILL OPEN THE FOLLOWING BULLISH TARGET 2416 EMA5 CROSS AND LOCK ABOVE 2416 WILL OPEN THE FOLLOWING BULLISH TARGET 2425 2437 BEARISH TARGETS 2385 2376 EMA5 CROSS AND LOCK BELOW 2376 WILL OPEN THE FOLLOWING BEARISH TARGETS BEARISH TARGETS 2360 2346 EMA5 CROSS AND LOCK BELOW 2346 WILL OPEN THE SWING RANGE SWING RANGE 2316 - 2302 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
6
GOLD WEEKLY CHART MID/LONG TERM/RANGE ROUTE MAP Hey Everyone, Please see update on our mid to longer term weekly chart idea. Last week we advised that the channel half line is a crucial level of support on this chart and as long as ema5 remains above the channel half line, we should be able to continue to buy dips. A break and lock below the channel half line will open the range test for the channel bottom. - This played out perfectly allowing us to use our smaller timeframe to buy dips and now seeing price head towards the channel top with a long range/term target at 2434 above the channel and 2505 long range axis target. We will also keep in mind the potential for temporary short term resistance at the channel top. The levels within the channel will provide the bounces inline with our plans to buy dips in true level to level fashion using our smaller time-frames. Buying dips allows us to safely manage any swings instead of chasing the bull from the top. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
4
GOLD MONTHLY CHART LONG TERM/RANGE ROUTE MAPHey Everyone, We have been successfully tracking this chart for a while now and after completing all our targets inline with our plans the last month candle opened in a central range with room above and below for the updated detachment to complete, which we highlighted circles and also room above to re-test the new open range. The detachment with the circle still remains and is always a reminder for us to manage our exposure to market while chasing the Bull long term, as one brutal correction at anytime can shock any setups. Tis chart keeps us grounded to always respect our exposure enough to be able to manage long term swings and use them to our advantage to buy dips. Last monthly candle left a nice body close above 2360, leaving a long range gap open to 2421. We still remain Bullish and will only safely take buys from support levels. As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
FOREXCOM:XAUUSD
by Goldviewfx
6
KASPA CHANCE FOR LONG (FUTURES TRADE)A coin that has a similar movement as the ADA cardano in 2021, and also of fundamental quality. It is one of the coins that appeared first in terms of strength when the euphoria began in 2023. Now it would be wisest to be patient because futures are in question. When we look at the futures trade, wait for the FVG to fill up, which would lead to a drop of 20% (the probabilities are small, but the point is certainty) When we invested it was low 0.11 and 0.12, now we approach completely differently. And if we miss a trade, our money is still working for us. This is a very important reaction because it shows that customers have taken over and that the correction is complete. We were in that range for a long time, a huge consolidation. I can very well target $0.55, but for now it is important to follow the set up. Feel free to show support with like,
Long
by learnfromfailure
2
GOLD 4H CHART MARKET UPDATEHey Everyone, Please see update on our 4H chart idea we shared on Sunday. This chart idea has also played out to perfection. We started with our 2337 open gap, followed with ema5 lock opening the range above at 2346, 2353 and 2360. - All 3 targets were hit!! We then had ema5 cross and lock above 2360, opening 2376 our final target on this chart. This target was also hit perfectly!!! BULLISH TARGETS 2337 - DONE EMA5 CROSS AND LOCK ABOVE 2337 WILL OPEN THE FOLLOWING BULLISH TARGET 2346 - DONE 2353 - DONE POTENTIALLY 2360 - DONE EMA5 CROSS AND LOCK ABOVE 2360 WILL OPEN THE FOLLOWING BULLISH TARGET 2376 - DONE As always, we will now come back Sunday with our Multi time-frame analysis, Gold route map and our trading plans for the week ahead. Have a great weekend and once again, thank you all for the likes, comments and follow, we really appreciate it!!! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
6
AUD/USD: One of better options for US dollar bearsThe AUD/USD is the one to watch in the event we see a negative dollar reaction to today's US jobs report, which is due for release shortly. A headline print of 191K is expected, but watch out for revisions to prior months' data too. AUD/USD's recent performance points higher The AUD/USD has been performing well due to strong Australian inflation and a hawkish stance from the Reserve Bank of Australia (RBA). It reached its highest level since January due to weaker-than-expected US data this week, which fueled speculation about a potential Fed rate cut in September. Boost from Recent Data: - Retail Sales: Increased by 0.6% month-over-month (m/m), surpassing the expected 0.3%. - Building Approvals: Rose by 5.5% m/m, beating the forecasted 1.5%. Inflation and Rate Hikes: - Australia's latest inflation report showed a significant rise to 4.0% year-over-year (y/y), higher than the expected 3.8% and April's 3.6%. - This has led investors to speculating over a 50% chance of another rate hike by the RBA, while expectations for a US rate cut are increasing. AUD/USD Technical Analysis: - The AUD/USD had been consolidating in a bullish continuation pattern near its highs. - It recently broke out of this to reach its best level since January. If this breakout holds after NFP then a potential rise towards bigger resistance in the 0.6850-0.6900 range could get underway - The line in the sand for me is at 0.6620, break below would be a bearish technical development Trading Outlook: - The combination of strong fundamentals and positive technical signals makes AUD/USD an attractive pair to trade on the long side, especially if US data continues to weaken. - This pair is potentially a better long candidate compared to others like EUR/USD, which has election risks, or JPY/USD (I know, I know, it is USD/JPY), which faces potential government intervention. By Fawad Razaqzada, market analyst at FOREX.com
Long
by FOREXcom
GOLD ROUTE MAP UPDATEHey Everyone, This is an update from the XAUUSD chart idea we shared for this week. Absolutely smashed !!!!! We got our retracement into the identified level and then the perfect bounce clearing all our Bullish targets. Cross and lock above each weighted levels on this idea gave the confirmation for each of our targets, which were hit perfectly. We are now seeing a break above 2364 with a gap open to 2376. We have already completed this chart idea and due to NFP will not be chasing the bull from the top and will only consider from dips We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2332 - DONE 2339 - DONE EMA5 CROSS AND LOCK ABOVE 2339 WILL OPEN THE FOLLOWING BULLISH TARGET 2349 - DONE POTENTIALLY 2354 - DONE EMA5 CROSS AND LOCK ABOVE 2354 WILL OPEN THE FOLLOWING BULLISH TARGET 2364 - DONE As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
8
ETH DOMINANCE Ethereum dominance showed strength a few hours ago. This is a great sign for large cap altcoins as well as Ethereum. There is only a little time left when he will show his strength. It is important to be ready when the impulse comes. At some point, ethereum should jump by at least 50 to 100 percent. Also Btc.D dominance will show the peak of bitcoin and then the altcoin season begins. Currently, the price of bitcoin is above 69300 both daily and weekly. Which shows that the trend continues, but I must not ignore Ethereum
Long
by learnfromfailure
2
Market News Report - 01 July 2024Introduction The winners and losers in the past week within the FX market were the same as the previous. Yen remains heavily shorted, while the Australian and Canadian dollars reigned supreme against the competition. While the USD dollar had mixed results on the economic calendar, it held decent strength against a few currencies. These are a few markets that our latest report will cover to prepare you for the current week. Market Overview Below is a brief technical and fundamental analysis breakdown for all major currencies. US dollar (USD) Short-term outlook: weak bearish. Last week's month-on-month CPI (Consumer Price Index) came in lower than expected. Furthermore, the Federal Reserve Bank recently indicated that we should expect at least one interest rate cut this year. Despite the sentiment above, DYX made a new weekly high and looks set on its path to test the major resistance at 106.490, some distance away from the major support level at 103.993. Thus, the outlook is weak bearish rather than full-on bearish. Long-term outlook: weak bearish. The anticipated Fed rate cut is the primary bearish driver for the greenback. Traders should consider the upcoming ISM (Institute for Supply Management) index and NFP (Non-Farm Payrolls) numbers, both of which analysts predict lower results than previous figures. Still, if either of these fundamentals turns out better than expected, bullish surprises for the dollar are possible. Euro (EUR) Short-term outlook: weak bearish. While the ECB hasn't decided whether to be hawkish or dovish in the future, the recent rate cut drives the euro's bearish force. The second catalyst is the surprise drop in the PMI (Purchase Managers Index) on June 21 2024. Another risk to the euro is the far-right National Rally political party amid the French elections. The euro was close to reaching the major support at 1.06494 earlier in the week. The fundamentals suggest that this market will probably attempt to revisit this level instead of the further resistance (at 1.09160), confirming the bearish bias. Long-term outlook: weak bearish. Aside from the interest rate, other bearish drivers include the French legislative election. Euro traders should note several high-impact events this week, namely Langarde's speech and new Retail Sales data. British pound (GBP) Short-term outlook: bearish. The Bank of England (BoE) continues to show dovish tendencies, partly due to the recent drop in UK services or PMI data. STIR (short-term interest rate) markets envision a 43% chance of a BoE rate cut next month. The technicals match pretty well with the above sentiment, making low after low in the past few weeks. Although GBP is far from the major support level at 1.24457, seeing another low soon wouldn't be surprising. Meanwhile, the key resistance lies high up at 1.28606. Long-term outlook: bearish. The interest rate is the chief bearish driver for the pound amid a mostly bleak economic bleak. As always, any better-than-expected growth data can present some short-term upside. Japanese yen (JPY) Short-term outlook: weak bullish. The 'weak bullish' aspect is due to the Bank of Japan's recent decision to keep the interest rate unchanged. The Bank of Japan Governor, Kazuo Ueda, also recently stated that "depending on economic, price, and financial data and information available at the time, there is a chance we could raise interest rates at the July meeting." Furthermore, STIR markets see a 60% chance of a rate hike in the meeting at the end of the month. Despite the slightly bullish outlook, the yen made history by reaching an all-time high of 161.285, breaking its previous major resistance of 160.233. So, it's clear this market is all the way up. The key support remains at 154.546. However, it would take a miracle for USD/JPY to move above this area. Long-term outlook: weak bullish On the one hand, the yen offers mild bullishness due to the expected rate hike. Furthermore, catalysts that push US Treasury yields lower (e.g., weaker jobs data, lower core PCE) would also be positive for the yen. Finally, a big beat in new CPI data is another consideration. However, things don't look rosy on the charts. To combat this, the Ministry of Finance in Japan has hinted at intervention once the yen exceeds a value of 160.00 (which it already has). Australian dollar (AUD) Short-term outlook: weak bullish. The recent Reserve Bank of Australia meeting on June 17 aligned with the sentiment of unceasing inflation. So, it's a given that the RBA should hike the interest rate next month. Another point worth mentioning is the CPI print at the end of July, with expectations of a positive outcome. Finally, the Australian dollar shares an interesting correlation with China. Data indicating growth in this region (stimulus, new infrastructure projects, solid economic data, etc.) should boost the former. While showing some bullish fundamentals, the Aussie's range-bound conditions continue. The key support (0.65580) and key resistance (0.67141) levels remain neither far nor close to each other. While this market can go either way, the short-term outlook suggests it may lean more towards the upper regions. Long-term outlook: weak bullish. The unchanging of the interest rate (along with a potential hike) are the main bullish drivers. However, a weak result in the upcoming CPI may encourage the bears. Furthermore, the Australian dollar is exposed to slow economic growth in other countries. New Zealand dollar (NZD) Short-term outlook: weak bullish. Like the RBA, the Reserve Bank of New Zealand (RBNZ) is also battling inflation. So, there is an incentive to be hawkish. However, as with the Aussie, the Kiwi is a pro-cyclical currency with high sensitivity to developments in China. After showing similar price action to AUD, the New Zealand dollar has just broken a notable support level. The next target would, of course, be down at 0.58746, while the key resistance is at a higher level at 0.62220. So, the technicals seem to contradict what is fundamentally happening with the Kiwi. Long-term outlook: weak bullish. The hawkish stance suggested by the RBNZ is the key bullish catalyst. Still, any out-of-consensus CPI prints in the near term and sensitivity to other global economies like China could derail the currency. Canadian dollar (CAD) Short-term outlook: weak bearish. STIR markets indicate a 50/50 chance for the Bank of Canada to cut rates this month. The Governor of the Bank of Canada, Macklem, has also suggested this would happen if inflation became stickier. Interestingly, last week's CPI numbers were all positive for the Canadian dollar - hence the 'weak bearish' outlook. CAD remains in full-on range mode. Just as it looked to break the key support at 1.35896, it quickly reverted. The key resistance is at 1.37919. Based on the chart dynamics, it's anyone's guess where the price will go this week. Long-term outlook: weak bearish. The long-term outlook is the same as the short-term. Expectations of a rate cut remain the centre of bearish attention. However, CAD may be redeemed by encouraging oil prices. Swiss franc (CHF) Short-term outlook: bearish. STIR markets were predictably accurate with their 76% chance of the Swiss National Bank (SNB) cutting the interest rate last Thursday. Secondly, SNB expects a moderate improvement in inflation and GDP (Gross Domestic Product) and unemployment to rise slightly in the near term. The market recently attempted to break a key support area for the Swiss franc. However, the latest expected rate cut for the Swiss franc's interest rate caused a U-turn. Now, USD/CHF's key support and resistance levels lie at 0.88268 and 0.91582, respectively. Long-term outlook: bearish. The expected rate cut in the next SNB meetings (in September and December 2024) is the key bearish driver for the Swiss. However, the bank's willingness to intervene and geo-political events may give the latter some upside. Conclusion On the technical side, it will be interesting to see if Aussie and CAD could breach their ranges. Let's also see if the yen may find some strength for a change this week. The key news to diarise this week includes the minutes by the RBA and Fed, the year-on-year euro inflation rate, and the CAD unemployment rate. So, that's it for this report - we hope you are well-prepared!
TVC:DXY
by CityTradersImperium_CTI
EUR/USD Rebounds in Sideways Area, Concludes Flat Trading WeekAs forecasted, the EUR/USD pair rebounded within its sideways range on Friday, wrapping up a week of flat trading. Traders found little reason to push the pair meaningfully in either direction. The week saw German import prices and labor figures broadly missing expectations, while the US Personal Consumption Expenditure (PCE) Price Index inflation printed at forecast without sparking significant movement. German Unemployment Change data showed a higher-than-expected increase, with 19,000 more consumers added to unemployment figures in June, exceeding the forecast of 15,000 but still below the previous month's 25,000. The German Unemployment Rate also edged higher to 6.0%, compared to the forecasted hold at 5.9%. Our technical analysis remains bullish as long as the price stays within the upper side of the sideways rectangle. Currently, the price has rebounded from the 78.6% Fibonacci retracement level of the lowest major swing and has formed a triple bottom pattern. This suggests a potential continuation of the upward trend. We will continue to monitor the economic conditions to determine future moves once the price approaches the upper boundary of the sideways range. For now, the technical indicators support a bullish outlook, anticipating further gains within the current trading range. Initial Idea ✅ Please share your thoughts about EUR/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
1
GOLD 1H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing price between two weighted level range. We have 2332 and 2339 Goldturn resistance levels and 2321 and 2312 as Goldturn support levels with 2339 as weighted resistance and 2312 as weighted support. We will see levels within this range tested side by side until one of the weighted levels break to confirm direction for the next range. We have 2332 open gap and will need ema5 to lock above 2339 to confirm the range above. We also have 2321 and 2312 as the retracement area and will need ema5 lock below this to open the swing range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2332 2339 EMA5 CROSS AND LOCK ABOVE 2339 WILL OPEN THE FOLLOWING BULLISH TARGET 2349 POTENTIALLY 2354 EMA5 CROSS AND LOCK ABOVE 2354 WILL OPEN THE FOLLOWING BULLISH TARGET 2364 BEARISH TARGETS 2321 2312 EMA5 CROSS AND LOCK BELOW 2312 WILL OPEN THE SWING RANGE SWING RANGE 2306 - 2298 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
22
GOLD 4H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone, Please see our updated 4h chart levels and targets for the coming week. We are seeing price between two weighted levels. We have 2337 Goldturn resistance and 2325 and 2316 as Goldturn support levels with 2337 as weighted resistance and 2316 as weighted support. We will see levels within this range tested side by side until one of the weighted levels break to confirm direction for the next range. We have 2337 open gap and will need ema5 to lock above 2337 to confirm the range above. We also have 2316 as the retracement area and will need ema5 lock below this level to open the range below. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2337 EMA5 CROSS AND LOCK ABOVE 2337 WILL OPEN THE FOLLOWING BULLISH TARGET 2346 2353 POTENTIALLY 2360 EMA5 CROSS AND LOCK ABOVE 2360 WILL OPEN THE FOLLOWING BULLISH TARGET 2376 BEARISH TARGETS 2325 2316 EMA5 CROSS AND LOCK BELOW 2316 WILL OPEN THE FOLLOWING BEARISH TARGETS BEARISH TARGETS 2309 2302 EMA5 CROSS AND LOCK BELOW 2302 WILL OPEN THE SWING RANGE SWING RANGE 2290- 2284 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
6
GOLD WEEKLY CHART MID/LONG TERM/RANGE ROUTE MAP Hey Everyone, Please see update on our mid to longer term weekly chart idea. After completing our 2356 target week before last, we saw price test support at 2310 last week followed with the rejection with the gap to 2356 now left open again for a re-test. The channel half line is a crucial level of support on this chart and as long as ema5 remains above the channel half line, we should be able to continue to buy dips. A break and lock below the channel half line will open the range test for the channel bottom. The levels within the channel will provide the bounces inline with our plans to buy dips in true level to level fashion, using our smaller time-frames. Buying dips allows us to safely manage any swings instead of chasing the bull from the top. Please don't forget to like, comment and follow to support us, we really appreciate it! MR GOLD XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
12
GOLD ROUTE MAP UPDATEHey Everyone, Awesome finish to the week today with our final target at 2339 complete with the perfect exit before the rejection. We were able to track the movement down all the way into the swing range with cross and lock confirmation below 2312. We also had ema5 cross and lock above 2330 leaving the gap to 2339 open, giving us the confidence to buy dips throughout the week into our final target today. 2349 was a potential momentum target and not one to chase now. BULLISH TARGETS 2323 - DONE 2330 - DONE EMA5 CROSS AND LOCK ABOVE 2330 WILL OPEN THE FOLLOWING BULLISH TARGET 2339 - DONE BEARISH TARGETS 2312 - DONE EMA5 CROSS AND LOCK BELOW 2312 WILL OPEN THE SWING RANGE SWING RANGE 2302 - 2294 - DONE As always, we will now come back Sunday with our multi timeframe analysis, Gold route map and trading plans for the week ahead. Please don't forget to like, comment and follow to support us, we really appreciate it! Have a smashing weekend all!! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
10
World gold is in the mood for Fed cutsThe world gold price went down, the USD continued to gain and showed that 10-year US government bonds also reached their highest level in the last 2 weeks. The school's attention focuses on the US personal consumption expenditure price index (PCE) in May - an appropriate control measure of the US Federal Reserve (Fed) to better know the interest rate performance of the US. center row. In addition, there are estimates of US Q1 GDP and an important debate between US President Joe Biden and Republican opponent Donald Trump on June 27. According to CNBC, Fed Governor Michelle Bowman said on June 25 that maintaining policy rates stable “for a while” may be enough to control inflation, but reiterated that she is ready to raise interest rates if necessary. . If interest rates decrease, it could bring gold prices down... 💵 OANDA:XAUUSD SELL 2316 - 2318💵 ✔️ TP 2310 ✔️ TP 2300 ❌ SL 2323 💵 OANDA:XAUUSD BUY 2286 - 2288💵 ✔️ TP 2295 ✔️ TP 2300 ❌ SL 2279
OANDA:XAUUSDLong
by MrTrongVo
BAKEUSDT: A Sweet Opportunity Amidst a Sour Dump? pen_spark BAKE has been baking up a storm of volatility lately, with a nearly 50% price drop over the past few weeks. New lows have been established, leaving many traders wondering if the bottom is in. However, a closer look at the 4-hour chart reveals a potential long opportunity brewing. Key Points: Range-Bound: BAKEUSDT has been consolidating within a well-defined range on the 4-hour timeframe. This indicates a potential equilibrium between buyers and sellers. Breakout Potential: A decisive break and close above the upper boundary of this range could signal a shift in momentum and trigger a move towards the next resistance zone. Retest Opportunity: The next resistance zone would likely act as a retest area for the breakout. If BAKEUSDT holds above this zone, it could pave the way for further upside continuation. Risk Management: As with any trade, proper risk management is crucial. Set stop-loss orders below the recent swing low to protect your capital in case the breakout fails. Trade Idea: Entry: Consider entering a long position on a confirmed break and close above the lower boundary of the current range. Stop Loss: Place a stop-loss order below the recent swing low. Take Profit: Target the next resistance zone for a potential retest. If the retest holds, consider raising your take-profit targets to higher levels. Let me know if you'd like a more detailed analysis or have any questions. #BAKEUSDT #BakeryToken #Crypto #TradingView #TechnicalAnalysis
Long
by SwingSamurai_QMA
1