GOLD SHORT OVERVIEW (4H UPDATE)On the bigger TF Gold has now completed its 5 wave bullish cycle.
I am being careful right now with Gold sell's as there's a chance on the smaller TF we might see 1 more new ATH (Wave V) towards $2,700.
USD
USDJPY Breakout And Potential RetraceHey Traders, in today's trading session we are monitoring USDJPY for a selling opportunity around 144.800 zone, USDJPY was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 144.800 support and resistance area.
Trade safe, Joe.
USD/JPY Analysis Update 01.10.2024USD/JPY Analysis Update:
The market has moved slightly higher than expected, and currently, a bearish divergence appears to be forming on the 1H chart, indicating a potential pullback soon. We expect a support/resistance flip in the highlighted area on the chart, which served as resistance and now should act as support. This zone will be the entry level, with yesterday’s low as the invalidation point. The target remains unchanged from the previous analysis.
Additionally, the diagonal trendline supporting the uptrend from yesterday’s low has been broken, which further strengthens the case for a potential pullback from the current levels. If the price holds above this level, we could see continuation; otherwise, a deeper correction might follow.
⚠️ Disclaimer: ⚠️
🚫 This is not financial advice. Trade responsibly and conduct your own research before making any decisions.🚫
Could Gold reverse from here?The price is rising towards the resistance level which is a pullback resistance that lines up with the 50% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 2,645.64
Why we like it:
There is a pullback resistance level that aligns with the 50% Fibonacci retracement.
Stop loss: 2,660.75
Why we like it:
There is an overlap resistance level that lines up with the 88% Fibonacci retracement.
Take profit: 2,652.48
Why we like it:
There is a pullback support level.
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EURUSD H4 - Short setupEURUSD H4
Our sell zone here on EURUSD is playing out well 1.12 seems to be the handle which is holding as effective resistance. 3 attempts to break higher, 3 time resistance has held and see a dump of around 60-70 points, with just 10-15 points of movement around the 1.12 stoploss area. This 60-70 point range is certainly an area and range we can follow.
Ultimately, out target is 1.10, but we may see price bounce from current price like we have on the last few occassions.
Pullback resistance ahead for Gold?The price is rising towards the pivot and could reverse to the 1st support level which is a pullback support.
Pivot: 2,545.34
1st Support: 2,624.97
1st Resistance: 2,660.47
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.
Bearish reversal off pullbacvk resistance?The Loonnie (USDD/CAD)is rising towards the pivot which acts as a pullback resistance and could reverse to the overlap support level.
Pivot: 1.3549
1st Support: 1.3491
1st Resistance: 1.3614
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.
Bearish reversal?USD/CHF is rising towards the pivot which has been identified as a pullback resistance and could fall to the 1st support level which acts as a pullback support.
Pivot: 0.8479
1st Support: 0.8405
1st Resistance: 0.8516
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.
Could price reverse from here?USD/JPY is rising towards the pivot which has been identified as an overlap resistance and could reverse to the 1st support which acts as a pullback support.
Pivot: 144.49
1st Support: 142.17
1st Resistance: 146.45
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.
GBPUSD is trying to find a directionI want to be bearish but I'm not convinced yet that price wants to move bearish. Being that we are transitioning to a new month price can easily continue bullish before flipping bearish. We just have to wait and see.
USD/MXN: Sheinbaum Era Begins Mexico makes history today as Claudia Sheinbaum becomes the country’s first female president. With nearly 35.5 million votes—representing close to 60% of the electorate—Sheinbaum secured more votes than any president in Mexican history.
Since the election, the Mexican peso has declined by around 13%. Recent price action has moved sideways as markets assess Sheinbaum's economic policies.
However, traders anticipating a sharper selloff in USD/MXN may need to wait, as the pair potentially remains upwardly biased with the 20 Day and 50 Day EMA outlining possibly areas of support.
USDCAD: Sell signalUSDCAD is almost neutral on its 1D technical outlook (RSI = 44.464, MACD = -0.002, ADX = 19.851) as it rebounded on August's low. This is a similar price action to the April-May 2023 sequence and as long as the 1D MA50 contains the price under it, we will be bearish. Our Target is just over the S1 Zone (TP = 1.32500).
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AUDUSD: Top of Megaphone hit. Reversal expected.AUDUSD is almost overbought on its 1D technical outlook (RSI = 68.054, MACD = 0.006, ADX = 53.204) as the price reached the HH trendline at the top of the Megaphone pattern. The 1D MACD printed a sequence almost identical to the December 28th 2023 top, which soon after declined to the 0.5 Fibonacci level. Consequently, we take this as a strong sell signal, aiming at the 0.5 Fib (TP = 0.66500).
See how our prior idea has worked out:
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Gold Short Overview (Video Analysis)Been a while since I've created a video analysis, so I thought to create one & update you all on the choppy price action of Gold & the possible options on how it'll move next, leading into October.
HelenP. I Gold will break support level and fall to trend lineHi folks today I'm prepared for you Gold analytics. Some time ago price declined to the trend line (2500 points) and then at once rebounded and rose to support 2, which is located inside the support zone. After this movement, the price tried to rise more, but later it turned around and made a correction to the trend line (2547 points) again, which coincided with support 2. After this, Gold turned around, bounced, and started to grow to support 1, which coincided with one more support zone. When it reached this level, XAU broke it and made a retest, after which continued to move up. Some time later, when the price reached 2685 points, it turned around and in a short time declined to the support zone. But recently it started to move up, so, for this case, I expect that XAUUSD will make a small movement up and then start to decline to the trend line, breaking the support level. That's why I set my goal at 2620 points. If you like my analytics you may support me with your like/comment ❤️
