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2023.7.7 USD is falling, gold is weak !2023.7.7 USD is falling, gold is bearish and weak, and US crude oil is in a deep V shape! Hello, I'm Older Duan. Today is Friday, July 7th 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 rose and fell yesterday, returning to the daily line near 144MA, but its upside space has been opened! 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 falling down for two consecutive days, but yesterday's daily closing line showed long up and down shadows, indicating intense competition between long and short positions! Then, the opening price of this month ($1919.4) will be taken as the Bitwise operation of 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 showed a deep V reversal pattern yesterday, with a likely slow upward oscillation rate! Then, in the following time today, we can take today's opening price ($71.79) as the important Bitwise operation of the day! 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, yesterday's daily positive line of the euro against the US dollar completely engulfed the previous day's negative line! Then in the future, the daily line 21MA (1.09043) will be taken as an important Bitwise operation in the day! 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 against the US dollar is accelerating its rise as previously predicted! Then in the future, we can use today's opening price (1.27410) as the Bitwise operation of the day! 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 July 7th (Friday). There is a big non Farm Employment Change data market tonight! Please pay attention to the risks! Im Older Duan. Wish you happy win . Goodbye!
FOREXCOM:USOIL
by Think_More
USD/CAD Prediction on 06.07.2023The current market conditions indicate that the USD/CAD pair continues to exhibit a bullish trend. The US dollar has been demonstrating strength against the Canadian dollar, leading to an upward trajectory in the exchange rate. Several factors contribute to this bullish sentiment. Firstly, the US economy has shown resilience and robustness, bolstering the appeal of the US dollar as a safe haven currency. Strong economic indicators, such as GDP growth, employment figures, and consumer confidence, have fueled investor confidence in the US dollar's stability. Secondly, geopolitical factors have also played a role in the bullish outlook for USD/CAD. Global events, such as trade tensions, political uncertainties, or geopolitical conflicts, have a significant impact on currency pairs. As traders seek refuge in safer currencies like the US dollar, it often leads to an increase in its value relative to other currencies, including the Canadian dollar. Additionally, monetary policy divergence between the US Federal Reserve and the Bank of Canada has influenced the bullish sentiment. The Federal Reserve's monetary tightening measures, including interest rate hikes or tapering of quantitative easing, can attract foreign investments, driving up demand for the US dollar. Meanwhile, the Bank of Canada may adopt a more dovish stance, keeping interest rates lower to support economic recovery, which can put downward pressure on the Canadian dollar. However, it is important to note that the foreign exchange market is dynamic and subject to various factors that can influence currency movements. Therefore, it is crucial for traders and investors to continuously monitor market conditions, economic indicators, and geopolitical developments to make informed decisions regarding the USD/CAD pair
Long
by mazayafx
2023.6.30 Daily European Perspective USDX broke up again !2023.6.30 Daily European Perspective USDX broke up again ! USD continues to strengthen, with non US currencies and precious metals stepping back on key support, and USoil bulls feeling weak! Hello, I'm Older Duan. Today is Friday, June 30 2023. Now it's 16pm 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 broke up again yesterday, back above the daily 21MA and 144MA, and hit the daily 165MA! 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, the lowest point of gold yesterday hit the 1.618 level (around $1890) above the bottom of the gold split! Then, in the following days today, we will continue to use the integer gate of $1900 as an important Bitwise operation operation! 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, the daily pattern of US crude oil in the past three trading days has shown a state of continuous bullish accumulation, ready to exert upward force! Then, in the future, we will continue to use the integer pass of $70 as the important Bitwise operation operation in the day! 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/US dollar hit its daily low of 21MA yesterday and today, rebounding upwards at any time! Then in the future, the daily line 21MA (1.08600) will be used as the Bitwise operation of the important point in the day! 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 US currency has been vying for long and short positions near the daily line 21MA in the past three trading days! Then in the future, the daily line level of 21MA (1.26600) will be taken as the Bitwise operation of the important point in the day! 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. As it is the last trading day of June, the weekly, monthly, quarterly, and first half year lines of 2023 will be closed tonight! Please pay attention to the risks! Im Older Duan. Wish you happy win . Goodbye!
PEPPERSTONE:USDX
by Think_More
2023.6.29 Daily European Perspective 2023.6.29 Daily European Perspective Gold is clearly accelerating its decline and is about to test the integer level of $1900! Hello, I'm Older Duan. Today is Thursday, June 29 2023. Now it's 16pm 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 broke above the daily line of 55MA yesterday and hit 21MA and 144MA! 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 is clearly accelerating its decline and is about to test the integer level of $1900! Then, in the following days today, we can use the integer gate of 1900 dollars as the important Bitwise operation of the day! 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 recovered its previous day's decline yesterday, but is still below the integer level of $70! Then, in the following time today, we can take the integer pass of $70 as the important Bitwise operation operation in the day! 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, yesterday's decline of the euro against the US dollar gave up the previous day's gains, and today's lowest point hit the daily bottom of the gold split at 2.382! Then, in the future period of this day, take today's opening price (1.09144) as the important Bitwise operation of the day! 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 US currency fell below the daily limit yesterday, reaching below the 2.000 level of the gold split at the bottom of the daily level, and broke through the daily level of 21MA! Then in the future, the daily line level of 21MA (1.26510) will be taken as the Bitwise operation of the important point in the day! 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 Thursday, as this week is the last trading week of June, the monthly line for this month will be closed by the end of this week! Please pay attention to the risks! Im Older Duan. Wish you happy win . Goodbye!
FOREXCOM:XAUUSD
by Think_More
GBPUSD: Could the FOMC set up a resistance break?Today's focus: GBPUSD Pattern – HH HL continuation Possible targets – 1.2683, 1.2980 Support – 1.2305, 1.2493 Resistance – 1.2640, 1.2660 Today’s focus is on the GBPUSD after buyers made another strong move higher on Wednesday. That move continues the series of HLs and HHs this is a good thing to see in the current short-term uptrend. As discussed in today’s video, our attention is now on key resistance that has stood since May 22. Could a dovish tone from the Fed set the USD up for more downside? We did see a fightback after the CPI data and the Core remained high at 0.4%. If the Fed hold rates and hint more towards the dovish side in the statement, could that set the GBPUSD up for a new test or break of resistance, setting off a new trend continuation? For now, the GBPUSD, despite its short-term bullish move, remains consolidation bound.
Long
by Eightcap
Will JPY momentum carry forward and set off further selling?Today's focus: JPY AUDJPY GBPJPY Pattern – Fade Resistance holds Possible targets – AUDJPY 92.50/92.30 GBPJPY 173.39/172.95 Support – AUDJPY 92.30 GBPJPY 173.15 Resistance – AUDJPY 93.30 GBPJPY 174.20 Today’s update focuses on JPY strength, that we have seen picking up since yesterday’s US session. We have looked at the AUDJPY and GBPJPY in detail. Are we seeing a turn in momentum? Both of these markets showed strength in the short term or sit in uptrends. After seeing the fades yesterday and today combined with resistance, could this be of sellers gaining control? Thanks for stopping by. Good trading, and have a great day.
Short
by Eightcap
USD buyers ready to test resistance again?Today's focus: USD Index Pattern – Continuation Possible targets – 105.60 Support – 103.40 Resistance – 104.20 Today’s update is on the USD index. Do we have a new uptrend? For us, we want to see resistance beaten. If we can see a break, this could set up a new move to 105.60 and a break of that level take price out of its consolidation range and gets an uptrend going. For now, we have a short-term up trend, but buyers have more work to do to confirm it overall. If we see a new retracement, we want to see support hold. A move back to 102.70 is a worry if you’re on the short-term bull side. With momentum back in the buyer’s court, will we see a break of resistance? Thanks for stopping by. Good trading, and have a great day.
Editors' picks
EIGHTCAP:USDXLong
by Eightcap
10
EURGBP: Near its bottom. Long term Buy.EURGBP is consolidating under the 1D MA200 for the 11th consecutive day which keeps the 1D time-frame near neutrality, despite the marginally red technical indicators (RSI = 43.260, MACD = -0.003, ADX = 36.781). This is a standard bottom formation and since the 1D RSI is rising after hitting the Channel's bottom, the signal gets stronger. The standard rally inside this Channel Up that extends for more than 1 year, is +5.00%. We are extending our downside tolerance, assuming a potential bottom on the HL of the Channel Up, so taking a +5.00% rise from there gives us a bullish Target marginally over the 0.618 Fibonacci level. Our TP is 0.90200. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
6
USDCAD: Buy opportunity inside a Triangle.USDCAD is stuck in between the 1D MA200 and 1D MA50, inside a Triangle pattern. The 1D timeframe is naturally neutral technically (RSI = 51.593, MACD = -0.003, ADX = 11.724) since the price is in the middle of the pattern and that recent rebound on the bottom of the Triangle is the last buy opportunity before it hits the top (LH trendline) again. We are long again, TP = 1.37545. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
6
USDJPY returns to its proving groundToday's focus USDJPY Pattern – Resistance test. Possible targets – 138.50 (Upside) 136.30 (Downside) Support – Resistance – 137.75 Here we are again back at the 137.75 area that has stopped USDJPY rallies since it developed around December 2022. This is the fifth rally from buyers that has tested this area. Will we finally see a break of this level this time around, or will we see sellers continue to hold firm? In our opinion, a lot will come down to yen strength as it was driving the run. The JPN225 has also been staring, hitting levels close to its 2021 high. If we see a small retreat, that's not a bad thing, but we want to see a quick HL and new test of resistance to show buyers hold momentum. A move back below 136.30 or a new LH followed by a new move lower below resistance will be a worry around buyer strength. What do you think? Will we see a break of this level today or during the rest of the week? Thanks for stopping by. Good trading, and have a great day.
by Eightcap