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GBPUSD Head & Shoulders OpportunityHi Traders! There is a pullback on the bullish momentum we have had over the past few days on GBPUSD, and there is a head-and-shoulders pattern on the 2H chart. Here are the details: The market is rapidly approaching the neckline, and there are opportunities for short entries to target a break below the neckline. The market has also broken below the 20 EMA, and a close below the 20 EMA will be an added confirmation signal. Preferred Direction: Sell Entry Level:1.27504 Stop Level:1.27806 Target Level: 1.26900 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
7
⤴️⤴️GPBUSD) bullish on the market) analysis)🖼️🚀The dollar crept higher on the first trading day of the year as attention turned to economic data this week that may provide clues on the Federal Reserve's next moves, while bitcoin surged ahead of $45,000 for the first time since April 2022. The dollar index DXY , which measures the U.S. currency against six rivals, fell 2% in 2023, snapping two years of gains. It was last at 101.44, up 0.059%, as investors weighed the prospect of the Fed cutting rates this year. The dollar's ascent weighed on the Japanese yen USDJPY the most, with the Asian currency down 0.35% at 141.36 per dollar, having slid 7% in 2023. Rescue teams in Japan on Tuesday struggled to reach isolated areas hit by a powerful earthquake on New Year's Day, with reports of more than 20 people dead in a disaster that toppled buildings and knocked out power to thousands of homes. Markets are now pricing in an 86% chance of interest rate cuts from the Fed to start from March, according to CME FedWatch tool, with over 150 basis points (bps) of easing anticipated in the year. "The question is when and how fast rate cuts will be delivered," Marc Chandler, chief market strategist at Bannockburn Global Forex, said in a note. "Moderating price pressures and weaker growth impulses have seen the pendulum of market sentiment swing dramatically from the 'higher for longer' mantra of most of last year to pricing in aggressive easing" from central banks, Chandler said. The focus now switches to a slew of economic data due this week, including the data on job openings and nonfarm payrolls. Minutes from the last Fed meeting in December are scheduled for release on Thursday and will provide insight into the central bankers' thinking around rate cuts this year. "The positive sentiment from end-2023 may roll over into this week as all eyes turn to the U.S. jobs report on Friday," said Nicholas Chia, macro strategist at Standard Chartered. At its December policy meeting, the Fed adopted an unexpectedly dovish tone and forecast 75 basis points in rate reductions for 2024. That contrasted with other major central banks, including the European Central Bank (ECB) and Bank of England (BoE), which reiterated they will hold rates higher for longer. Still, traders are pricing in 158 bps of cuts by the ECB this year, while the BoE is also expected to cut rates by 144 bps in 2024. The euro EURUSD was down 0.13% to $1.103, inching away from the five-month peak of $1.11395 it touched last week. The single currency gained 3% last year, its first yearly gain since 2020. Sterling GBPUSD was last at $1.2729, up 0.05% on the day, having clocked its strongest performance last year since 2017 with a 5% gain, although a weakening economy and election uncertainty make a repeat performance unlikely. Elsewhere, the Australian dollar AUDUSD was up 0.35% at $0.68335. The New Zealand dollar NZDUSD was little changed at $0.63155. The crypto world started the year with a bang, with bitcoin BTCUSD touching a 21-month peak of $45,532 on rising expectations that the U.S. Securities and Exchange Commission would soon approve exchange-traded spot bitcoin funds.
Long
by SMC-Trading-Point
USDJPY Under More PressureHi Traders! USDJPY is under more pressure as we head into the final trading days of the year. Here are the details: The price action here on the 4H chart is extremely bearish. The 20 EMA has been broken, the market swings are getting lower and lower without any bullish pullbacks suggests that there are hardly any bulls in the market at this current time. We anticipate that the market will soon break below the 140 psychological level. Preferred Direction: Sell Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
LINKUSDT - Elliott Wave Analysis - BullishBINANCE:LINKUSDT LINKUSDT - Elliott Wave Analysis - Bullish Article: The price chart analysis of ChainLink (LINK) using the Elliott Wave Theory, with lines drawn by this indicator, highlights it as one of the cryptocurrencies to watch. The long-term (1-week) price chart of ChainLink (LINK) has shown a bullish movement since 2020, breaking through several key resistance levels and continuing to climb steadily. The structure created by the indicator's automatic line drawing clearly shows that we are potentially in wave 3 of a bullish trend while concurrently in wave C of a bearish correction. Therefore, we expect prices to reach levels at $86, $105, and $137 respectively. However, other factors should be considered when forecasting future price directions such as fundamental asset factors, technical factors, and economic conditions. The fundamentals for LINK are strong due to its popularity as a DeFi project with increasing real-world usage. Technical indicators support an upward trend. Factors supporting the upward trend for ChainLink include: Growth in real-world usage of ChainLink. Partnerships with new allies. Launching new products and services. Risks against the upward trend for ChainLink include: Global economic recession. Volatility in cryptocurrency markets. Competition from emerging technologies. Conclusion In summary, the long-term (1-week) ChainLink price chart indicates a robust upward trend, with expectations of breaking through key resistance levels, specifically at $53. Currently, the price is in an accumulation phase, poised for a soon-to-come upward adjustment. Additionally, it is noteworthy that the price has been consistently adjusting upward on a weekly basis.
Long
by hapharmonic
13
Airbus: Turbulence! 🌪️ 🛫Airbus shares continue to struggle at the resistance level of €139.40. In our primary assumption, the price should soon leave this level behind and complete the magenta-colored (1) with the top of the turquoise wave 5, before it goes down again significantly in the same color wave (2). If this downward journey is prolonged to the immediate vicinity of the support at €48.08, a new low of the gray old.II can be expected, shifted to the right. Primarily, however, we believe that the stock is already on the upswing of gray III, whose five-part magenta substructure should break out to its impulsive (3) after the low of (2) and set new all-time highs in the process.
EURONEXT:AIRLong
by MarketIntel
AUDUSD Near Its 6-Month HighHi Traders! AUDUSD is having a strong finish to end the year and is targeting the 6-month high at 0.68948. Here are the details: After the double top at 0.68948 six months ago, AUDUSD was in a bear market for two months and then went into a range zone for three months. Last month, the market finally broke the 0.65175 range zone resistance and has been in a bull market ever since. We have a bullish view on this pair also in our long-term idea, as on the 1W chart, there has been a triangle breakout above the resistance trendline. The strategy here is to buy the market dips to target the six-month high at 0.68948. Preferred Direction: Buy Target Level: 0.68948 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX