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USDCAD: Best sell signal since March.USDCAD is trading inside a Channel Down pattern that has almost completed 11 months of trend. The technicals on the 1D time-frame are overbought (RSI = 70.266, MACD = 0.007, ADX = 57.395) and that enhances the sell sentiment as the price approaches the top of the Channel Down. The previous LH was priced a little over the 0.786 Fibonacci level. The formation of a Bearish MA50/100 Cross was after the top was in and technically we are only a week away from the new formation. Consequently, we treat this as a sell opportunity, waiting to sell on the 0.786 Fibonacci, targeting the 0.118 (TP = 1.32000) as the April 14th low. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
4
GBPJPY: Rejected at the top of the 2 year Megaphone. Sell signalGBPJPY hit the HH trendline of the two year Megaphone pattern and that has so far put a pause to the uptrend. The 1D timeframe has turned neutral (RSI = 52.182, MACD = 0.480, ADX = 25.579) and is supported by the 1D MA50. The MACD formation reveals that the pair could be ahead of a 0.382 - 0.236 Fibonacci correction as in June/July 2021. As a result there are higher probabilities for a short term sell. We are targeting the 1D MA200 not lower than the 0.382 Fib (TP = 177.000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
EUR/USD - JUST A CORRECTION? The price unfolds as previously forecasted. Currently we finished 5 subwaves in the upside that formed the corrective Wave A, as part of the Wave 4 from the bigger 5 Waves on the downside now. We will expect the corrective Wave 4 to continue to unfold, before we can say for sure that the Wave 5 impulse started on the downside! See the chart for a more clear idea of what I'm talking about. Thank you! From a fundamental perspective, there are a number of factors that are weighing on the euro. The European Central Bank (ECB) is expected to keep interest rates low for the foreseeable future, which makes the euro less attractive to investors. Additionally, the eurozone economy is facing headwinds from the ongoing war in Ukraine and rising inflation. From a technical perspective, the EUR/USD pair is trading below the 200-day moving average, which is a bearish signal. The pair is also trading below the support level of 1.0832. If the pair breaks below this level, it could decline to the next support level of 1.0609. However, there are some technical indicators that suggest that the EUR/USD pair could be bottoming out. The Relative Strength Index (RSI) is approaching oversold levels, and the stochastic oscillator is crossing over from oversold territory. This suggests that the pair could be due for a rebound. Overall, the EUR/USD exchange rate is facing a number of headwinds from a fundamental perspective. However, there are some technical indicators that suggest that the pair could be bottoming out. Traders should closely monitor the price action in the coming days to see if the pair can break out of the current downtrend. I hope this post is helpful. This analysis represents only my personal thoughts and knowledge at the date it is posted. This analysis does not represent professional and/or financial advice. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information. Any feedback is encouraged and appreciated. Thank you and have a nice day!
Short
by YExplore
Eightcap: USDCAD Analysis Today's focus: USDCAD Pattern – Support hold, retracement Support – 1.3517 Resistance – 1.3597, 1.3640 • USDCAD price sits at a junction. • USDCAD failed at its latest key resistance test. Hi, and thanks for checking out our latest market update. Today, we have run over the USDCAD on the daily chart and discussed oil and the USD index, as well as upcoming news that could influence the current picture. Price could be seen in a small squeeze at the moment. Will we see short-term support hold and potentially feed a new shot at key resistance? Or do we see support break and price make a new move back towards the main trendline? Data to watch today: US unemployment claims and core PCE price index. Tomorrow, US employment data. Have a great day and good trading.
by Eightcap
AUDUSD will buyer momentum continue?Today's focus: AUDUSD Pattern – HL Possible targets – 68.11 – 68.85 Support – 67.17 Resistance – 67.75 Could we see further upside from the AUDUSD? Currently price is bouncing off short-term support. This could continue if some of this week's key news goes in favour of risk markets. The USD has had a solid run recently but could any hints at future rant holds set off a new pullback? If so this could be fuel for the AUD to continue its push. Australian CPI is also due out on Thursday, its forecast to come in slightly lower Could a miss also help drive buying? For now, we will continue to watch price as it holds off short-term support with a new HL and see if it can continue to push higher reclaiming some of last week's lost ground. Have a great day and good trading.
Long
by Eightcap
2023.7.14 USD has fallen below the 100 integer mark2023.7.14 USD has fallen below the 100 integer mark Hello, I'm Older Duan. Today is Friday, July 14th 2023. Now it's 17pm Beijing time. Let me give you a quick comment on the technical forms of the current international mainstream varieties! First, what we see is the daily graph of the dollar index. As shown in the figure, the U.S. Dollar Index has fallen below the 100.00 integer level, coming near the daily level of 610MA! Now, let's look at gold. Now you can see the daily chart of gold. The figure superimposes the combination of gold's recent bottom-up golden section and Fibonacci parameter mean square! As shown in the figure, gold has been trading at the bottom against the 2.000 level of the gold split in the past two trading days, and it is also the highest point on February 2, 2023 ($1959.69), engaging in long short competition! Then, we can continue to use this position as an important Bitwise operation in the day later today! Above this position, bulls dominate; Below this position, bears dominate! Let's take a look at American crude oil. What you are now seeing is daily level candle chart of US crude oil. The graph superimposes the recent bottom-up golden section of US crude oil and the Fibonacci parameter mean square combination! As shown in the figure, US crude oil yesterday broke through the bottom of the bullish 1.618 and daily level 233MA, and today's low hit the daily level 233MA ($76.35)! Then, in the following time today, just use this position as an important point in the day for Bitwise operation! Above this point, bulls dominate; Below this point, bears dominate! Let's look at EURUSD. What you can see now is the daily chart of EURUSD. The figure superimposes the combination of European and American currencies against the recent bottom of the golden section and Fibonacci parameter mean square! As shown in the figure, the euro rose sharply against the US dollar again yesterday, with the next strong pressure at 1.12800! Then, in the future, we can use today's opening price (1.12228) as the Bitwise operation of the day's important point! Above this position, bulls dominate; Under this position, bears dominate! Finally, let's take a look at GBPUSD. Now you can see the daily chart of GBPUSD. The figure superimposes the combination of the recent bottom of the GBPUSD against the golden section and the Fibonacci parameter mean square! As shown in the figure, the pound has reached a strong pressure level against the US dollar: the bottom is at 2.382 (around 1.31300) above the golden section! Then this position will be used as the Bitwise operation operation of the important point in the day in the future! Above this position, bulls dominate; Under this position, bears dominate! Well, the above is a quick inventory of the technical forms of the international mainstream varieties in today's European period! Special reminder, Today is Friday, and all important data for this week has been released. The weekly line will close tonight, and it is likely that there will be a pullback trend. Please pay attention to the risks! Im Older Duan. Wish you happy win . Goodbye!
PEPPERSTONE:USDX
by Think_More
How to avoid the loss of funds in the transaction?Regardless of experience, every trader needs a plan. The key factors that can help the transaction become safer, they are the necessary strategic minimum requirements to ensure stable income and avoid unpredictable losses. Why Do Traders Fail? Let's take a look at the top reasons why traders lose money: Trading is a complex process. Trading strategies require discipline and precision. Even with the best ideas, some traders can forget to act systematically. Traders can be reckless. They give up doing market analysis, don't bother with stop loss orders, and forget about the rules of risk management. These all lead to mistakes and bad deals. So how to avoid the loss of funds in the transaction? 1 Don't build positions with huge volume If you are unsure of market movements, focus on at most one or two trades in a session. In the case of a small order volume, it is more controllable to track and find out various opportunities. Please note that some factors, such as slippage (the difference between the expected price of the order and the actual execution price of the order), are unsolvable and cannot be considered in advance before the transaction is opened). 2Using Stop Loss and Take Profit To reduce the risk of losing your money, you can use a stop loss order. They protect you from losing more money than you can afford. As for take profit, the principle is similar -- it will automatically close the order when the price target is reached, thereby locking in the profit. Therefore, taking profit will help you get out of the market immediately when the market price is right, so as to maximize your profits. 3Use reasonable leverage By setting a wider and reasonable stop loss, smaller leverage will allow each trade to have more breathing room, thereby avoiding higher capital losses. High leverage will blow up your trading account faster when the market trend goes against your expectations, because a larger lot size will make you face higher losses. 4. Pay attention to important news The market can change its trend at any time due to news or even rumors. Staying informed is key. All traders need to follow up all kinds of news throughout the trading hours. Let's say you realize that a news release will affect the direction of your position, but you're not sure which direction it will be. In such cases, you should provide maximum protection for the position you open (set stop loss, take profit, and in extreme cases, close the position before the release of the expected news). 5 Don’t Trade During Low Liquidity Hours You need to be aware that illiquid trading instruments tend to have wider bid-ask spreads, higher volatility and, thus, higher risk for the trader. Therefore, trading in a cycle with little liquidity will face the possibility of high capital losses. 6 View multiple metrics It is best to make your long/short decision based on several technical indicators. Indicators and other tools in technical analysis need to corroborate each other. Combine two or three different types of indicators. Your trading strategy can also rely on candlestick and trend chart patterns, as well as the use of golden section tools. In this way, the system will provide you with signals with a high probability of success. If you use such a strategy, combined with a stop loss and the correct risk/reward ratio, then you can avoid losing money in your trades. 7 Control Your Emotions The most successful trading comes from confidence and calm. Your fear of losing money, or your desire to make money with your trading instruments in the precarious state of big news, can get in the way. Make sure you keep your emotions in check and use tools like stop loss and take profit orders to make objective trading decisions. If it helps you, please like and follow.
FOREXCOM:XAUUSDEducation
by Gina-lovestotrade