Get started

Forex market

USDJPY - Potential Volatility AlertThose of you that follow USDJPY and yen crosses in general, know how quickly they can change direction within a short time frame, especially when there are big event drivers like the Federal Reserve (Fed) and Bank of Japan (BoJ) interest rate decisions scheduled within 12 hours of each other. That is the case tonight, with the Fed interest rate decision released at 1900 GMT and the BoJ interest rate decision released early on Thursday morning at 0300 GMT. Current market expectations are for the Fed to cut 25bp (0.25%) and for BoJ to remain unchanged, potentially holding off on a further rate hike until early 2025. However, there is always the chance that either central bank produces a surprise which may increase FX market volatility. Also, in play are the comments from Fed Chairman Powell in the press conference which starts at 1930 GMT on Wednesday. There is some nervousness amongst traders surrounding what Fed policymakers may signal regarding the pace of rate cuts during 2025, given how strong the US economic data readings have been recently. Similarly, the comments of BoJ Governor Ueda regarding inflation, strength of the Japanese economy, and future rate hikes, are also important when he speaks in the BoJ press conference which starts at 0630 GMT on Thursday. USDJPY – Potential Chart Levels to Watch Clearly, the reaction to the Fed and BoJ announcements may have significant implications for USDJPY. As such, you should be aware of the potential for greater volatility which can increase risks for any open positions during these uncertain periods.  The reaction to the announcements may see swift changes in direction of price and sharp reversals of previous activity. Reduction of position sizes and more proactive placement of stops maybe required over this period.  With that in mind, we want to look at possible support and resistance levels traders may be focusing on, up to and over these decisions.  Resistance Points to Watch   Having established a low of 148.64 on December 3rd a recovery period has developed, seeing USDJPY push up to 1 month highs of 154.48 (December 16th high) at the start of this week. A possible positive development within this move higher has been the closing break above the Bollinger mid-average (currently at 152.09). This average can often act as a resistance level while falling within a downtrend in price, so the break higher above this line last week, and the mid-average changing direction from declining to flat, may reflect a potential short term momentum shift. Next resistance levels could now be marked by the November 20th session high of 155.89, or even 156.75, which was the November monthly upside extreme. Closing breaks of these levels, if seen, while not a guarantee of future upside, may be a sign of further price strength towards the July 3rd high of 161.95, Support Levels   With any potential reaction to either the Fed or BoJ announcements providing the possibility for a swift reversal of recent upside USDJPY strength, we must be aware of some support levels.  The first support focus may be the Bollinger mid-average we discussed earlier at 152.09. Interestingly, this level is very similar to the 38.2% Fibonacci retracement of the December recovery, which stands at 152.15. So, breaks below this area could be a trigger for a more extended phase of USDJPY weakness.  If the break lower was to occur, it may open the possibility of a test of the deeper 61.8 retracement level at 150.79, or even a further move towards 148.63, which is the December monthly low, although this will only be determined by future price action and is in no way guaranteed. The material provided here has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Whilst it is not subject to any prohibition on dealing ahead of the dissemination of investment research we will not seek to take any advantage before providing it to our clients. Pepperstone doesn’t represent that the material provided here is accurate, current or complete, and therefore shouldn’t be relied upon as such. The information, whether from a third party or not, isn’t to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product or instrument; or to participate in any particular trading strategy. It does not take into account readers’ financial situation or investment objectives. We advise any readers of this content to seek their own advice. Without the approval of Pepperstone, reproduction or redistribution of this information isn’t permitted.
by Pepperstone
NZDCHF The Target Is UP! BUY! My dear followers, I analysed this chart on NZDCHF and concluded the following: The market is trading on 0.5121 pivot level. Bias - Bullish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation. Target - 0.5146 About Used Indicators: A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
1
NZDCAD Sellers In Panic! BUY! My dear friends, NZDCAD looks like it will make a good move, and here are the details: The market is trading on 0.8205 pivot level. Bias - Bullish Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market. Goal - 0.8215 About Used Indicators: Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
1
Silver Bullet Strategy AUDUSD | 17/12/2024At 9:55 EST, we arrived at our trading desk to scout for trades using silver bullet strategy. We focused on these pairs EURUSD, AUDUSD, GBPUSD, and USDCAD, hoping to get favorable trading conditions during the session. After 15 minutes, our first FVG formed on GBPUSD, indicating a buying opportunity when price retraces into the FVG on this currency pair. Five minutes later, a similar setup to that which formed on GBPUSD appeared on USDCAD as well indicating that we also look for buying opportunities on this pair when we get a retrace into the FVG. Shortly, a FVG formed on AUDUSD, suggesting a selling opportunity when the price retraces into the newly formed FVG. Immediately after identifying the FVG on AUDUSD, the next candle entered the FVG fulfilling all the requirements for our entry criteria. We executed the trade and monitored the other pairs to check if any of them met the entry criteria. However, none of them had at that time, so we entered one trade and waited to see others would give us an entry. We had only 25 minutes to enter the two other setups we observed, otherwise, we would not be able to take those trades due to our trade deadline being at 11:00 EST. We checked USDCAD and realized we got a retrace, but it failed to go lower to give us an entry, so we did nothing. A similar situation was encountered on GBPUSD. We failed to get an entry on the other pairs, however, the positive aspect was that our trade on AUDUSD was progressing well in our intended direction. After waiting a while, we checked on the position again to assess its performance only to realize it had retraced back to our entry point. An ideal situation? No, but this was the reality, we remained unfazed because we had only risked an amount we were comfortable losing. The trade consolidated around our entry price for a while, but we were in no rush. We had three options: 1. Trade reaches the take profit 2. The trade hits the stop loss 3. We manually close the trades at 16:00 EST These are the rules we have on our checklist and we intend to stick by them This trade neither hit our TP nor SL, so we decided to manually close it at 16:00 EST for a small profit, which we’re perfectly okay with. Remember, simply following your trading rules is a win on its own. Your rules exist for a reason!
Education
by CleoFinance
1
EURUSD Set To Fall! SELL! My dear friends, Please, find my technical outlook for EURUSD below: The instrument tests an important psychological level 1.0498 Bias - Bearish Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 1.0482 About Used Indicators: Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
AUDCHF The Target Is DOWN! SELL! My dear friends, Please, find my technical outlook for AUDCHF below: The price is coiling around a solid key level - 0.5674 Bias - Bearish Technical Indicators: Pivot Points High anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 0.5637 About Used Indicators: The pivot point itself is simply the average of the high, low and closing prices from the previous trading day. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
2
GBPCHF Trading Opportunity! SELL! My dear subscribers, This is my opinion on the GBPCHF next move: The instrument tests an important psychological level 1.1361 Bias - Bearish Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 1.1313 About Used Indicators: On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
Short GBPUSD on Fibonacci RetracementThe Cable (GBPUSD) charts shows a down trend on the daily and weekly charts. This is consistent with a long term view of the US economy doing better than the UK according to recent data releases. An initial impulse has broken a 4H up trend to the downside and has retraced to 0.618 during the 17 Dec 24 Asian session. I have gone short at 1.2700 and SL 1.2770. I have two targets: first TP at 1.2630 and second at 1.2570 giving risk to reward ratios of 1:1 and 1:2 respectively. Caution is advised as the FOMC are announcing their Dec interest rate decision this Weds and UK BoE on Thursday. I shall review positions in about 24 hours therefore.
Short
by ratcatcher
EUR/CHF Breaks Above Downtrend Line: What’s Next?The daily chart for the EUR/CHF pair has recently revealed a bullish movement, successfully breaking above its descending trend line. This development indicates a potential shift in market sentiment, occurring after the price touched a significant support level at 0.9250. The fact that the price has breached the downtrend line after reaching this support suggests a potential influx of buying pressure in the short term. Currently, the pair is trading near the horizontal resistance zone at 0.9400, which has been tested multiple times in the past. Possible Scenarios Buy Scenario: With the price having broken above the downtrend line, sustained trading above 0.9400 could signal a bullish move in the coming days. A stop loss could be placed around 0.9310 (approximately 90 pips below the current price). For a more conservative approach, a stop loss could be set below 0.9240 (about 160 pips). Take Profit Opportunities: TP1 at 0.9490, near the recent high (about 90 pips). TP2 at 0.9590, targeting the next resistance area (approximately 190 pips). Alternative Scenario: If the price fails to maintain itself above 0.9400 and retreats below the trend line, this could indicate a potential continuation of the downtrend. In such a case, a short entry could be evaluated around 0.9350: Stop Loss: Above the high of the previous candle, at around 0.9420 (approximately 70 pips). TP1: At 0.9250, which serves as significant support and a recent low (around 100 pips). Important Technical Factors to Note: Trend Line: The break of the descending trend line suggests a reduction in selling pressure. Resistance Zone: The area between 0.9400 and 0.9450 will be a critical test for buying strength. Strong Support: The 0.9257 level remains a crucial point that buyers have defended in prior downtrends. Fundamental Considerations Euro (EUR): The euro's strength is influenced by Eurozone economic data and the European Central Bank (ECB) decisions. The recent release of the Consumer Price Index (CPI), showing inflation at 2.2%, is close to the ECB’s target. This indicates that the ECB may adopt a dovish monetary policy in the short to medium term, which could negatively impact the euro's strength. EUR/CHF is at a pivotal technical crossroads. The break of the descending trend line supports a bullish outlook in the short term, with initial targets set at 0.9490 and 0.9590. However, a failure to overcome the current resistance could see sellers regain control, with possible targets around 0.9300 and 0.9257. Traders should closely monitor price reactions to these critical levels before entering positions. Disclaimer 74% of retail investor accounts lose money when trading CFDs with this provider. Consider whether you understand how CFDs work and if you can afford the high risk of losing your money. Past performance is not indicative of future results. Investment values may fluctuate, and you may not recover your initial investment. This content is not intended for residents of the UK.
Long
by Marketscom