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AUD/USD: Potential swing trade long setupAUD posted a strong rally of 5% from the April low, before 67c capped as resistance. A choppy rage has since formed between 66c-67c, although it could also be a bull flag in the making. Whilst we wait for it to decide which of the two it is, we're looking at a cheeky swing trade long idea heading into the weekend. The 1-hour chart shows a strong rally from US CPI, and recent prices action has retraced against that move. Prices are stabilising around the 20-day EMA, so perhaps it is close to a swing low. The bias is bullish whilst prices hold above the monthly pivot point (0.6610), but tighter risk management could be used if momentum turns higher (such as the recent swing lows). The initial target is near the upper 1-day implied volatility band of 0.6657.
Long
by CityIndex
USDCAD MOVED AS PREDICTEDOn Monday, I was confident that USDCAD was set for a bullish move. All indicators pointed towards an upcoming surge in momentum. I just needed to wait for another bullish flag to form, which it began to do. But then the CPI report came out, disrupting everything and wrecking the market structure. As usual, after such news, the price tried to revert to its original direction. Eventually, I spotted a double bottom—a perfect signal to execute the trade.
Long
by fasthandfx
1
Bearish on DXYThis week we have CPI and US Fed funds rate announcements. Most probably we don't get a rate cut for now (as the market expects). However, I think this week the announcements are coming out with a more dovish tone. Let's see what happens . . . If the CPI number come out lower or equal to the expectations and the Fed Chair Powell signals 1 or 2 rate cuts for this year. I believe we can expect the yellow scenario. Otherwise, we can expect the red scenario happens in short term.
TVC:US10YShort
by SamanFx0
xauusd analysisOn last monday we have posted a chart analysis major bullish and bearish points of xauusd. And all our targets were hit ✅✅✅✅ BULLISH: 2335 ✅✅✅ 2343 ✅✅✅ 2347 ✅✅✅ 2355 ✅✅✅ 2367 ✅✅✅ 2376 ✅✅✅ 2398 BEARISH; 2321 ✅✅✅ 2312 ✅✅✅ 2298 ✅✅✅ 2287 ✅✅✅ 2282 our analysis for monday june 10 2024 as xauusd has fallen around 120 points or 1200 pips from its top of 2388 on friday a possible retracement can be elicited out. if the support area from 2288-2282 is not breached then xauusd will fly back to 2333 area where it has major resistance minor resistance are present in 2304 2315 2321 more updates will be posted soon. please like share and follow us for more market related updates
OANDA:XAUUSDLong
by realmillionairefx
EUR/USD Short Opportunity: Riding Downside MomentumThe EUR/USD pair is poised for a potential downside move as key technical and fundamental factors align. Here's my analysis: Target Projection: With a clear break of 1.06, the EUR/USD could aim to take out the previous year's low, currently at 1.0450, and head straight for the level of 1.0377. This breakdown suggests that sellers are gaining control and may drive the pair lower. This downside target aligns with the bearish momentum and could be achieved by the end of May or leading into June. Due to possible Eurozone interest rate cuts. Short Positions: I've initiated short positions at 1.0802 and 1.0720 , anticipating the downward move. These positions provide an opportunity to capitalize on the expected decline in the EUR/USD pair. Rising US Bond Yields: The forecasted rapid increase in US bond yields adds further pressure on the EUR/USD pair. Higher yields attract capital flows into the US dollar, strengthening it against other currencies, including the euro. Potential Interest Rate Hikes: Concerns over rising inflation data could prompt the Federal Reserve to consider interest rate hikes later in the year. Such actions would likely support the US dollar and weigh on the EUR/USD exchange rate. Entry: Consider adding to short positions on any retracements towards resistance levels, but maintain a focus on the downside bias. Stop Loss: Set a stop loss above the recent swing high, 1.0813, or a key resistance level to manage risk effectively. Take Profit: Target the projected downside level of 1.0377, but consider adjusting the target based on evolving market conditions and price action.
Short
by mackmackeyy
EURUSD - 1H SellThe EURUSD chart indicates a potential bearish movement. The recent price action suggests that the pair is experiencing a weakening of the bullish momentum. After reaching a recent peak, the price is showing signs of a downward trend, indicating a possible decline towards the highlighted support zone around 1.08400. The price action around this level is crucial; if the support zone fails to hold, we could see a continuation of the downtrend. This setup aligns with the current market sentiment, pointing towards further selling pressure. Traders should watch for confirmations around the support zone to determine the next move.
Short
by Sober_Trading
DXY H4Let's break down the analysis of the DXY (US Dollar Index) 4-hour chart step by step. ### Key Levels and Trends: 1. **Support and Resistance Levels**: - **Resistance Levels**: - 106.170: This is a significant resistance level marked by the uppermost black line. - 105.383: Another resistance level, indicated by the middle black line. - **Support Levels**: - 103.633: This is a crucial support level, highlighted by the lower red line. - 102.717: Another key support level, indicated by the lower black line. - 101.476: A major support level represented by the lowest red line. 2. **Current Price**: - The current price is 104.558, which is marked slightly above the middle of the chart. 3. **Potential Scenarios**: - **Bullish Scenario**: - If the price breaks above the 104.772 resistance level, it could move upwards towards 105.383. - A sustained break above 105.383 could push the price further up to 106.170. - **Bearish Scenario**: - If the price breaks below the 103.633 support level, it could decline towards 102.717. - A break below 102.717 would be significant and could lead to a further drop towards 101.476. 4. **Price Channels**: - The price has been moving within a descending channel, which is marked by the two diagonal lines. - The upper diagonal line acts as dynamic resistance, while the lower diagonal line acts as dynamic support. 5. **Price Action Analysis**: - The price has been consolidating within the range of 103.633 and 104.772, indicating a potential accumulation phase before a breakout. - There have been previous instances where the price tested these levels, showing their importance. 6. **Arrows and Possible Movements**: - The upward arrows indicate potential bullish movements if the resistance levels are broken. - The downward arrows show potential bearish movements if the support levels are broken. ### Summary: - **Bullish Potential**: A break and close above 104.772 could trigger a move towards 105.383 and possibly 106.170 if the bullish momentum continues. - **Bearish Potential**: A break and close below 103.633 could open the door to 102.717, with further downside potential towards 101.476 if bearish momentum persists. ### Conclusion: Traders should closely monitor the key levels of 104.772 and 103.633 for potential breakouts. A move above 104.772 could signal bullish momentum, while a move below 103.633 could indicate bearish pressure. The price channels and the current consolidation phase suggest that a significant move might be on the horizon once these levels are decisively broken.
CAPITALCOM:DXY
by Sibonginkosi_Sithole-Job3
XAUUSD ANALYSIS OF THE WEEKLast week market has seen major volatile movements and this week the market will be more volatile due to abundant economic events that are about to happen. last week we have seen fall to major support area of 2322 and again market trying to breach the support and go to area of 2310 and from there a down fall to even 2281. The major moving averages both smoothed and exponential are in areas of 2344 to 2347 area. Breach above the area will meet major resistance of 2355 2367 2374 2383 2397. BULLISH AND BEARISH TARGET : BULLISH: 2335 2343 2347 2355 2367 2376 2398 BEARISH; 2321 2312 2298 2287 2282
OANDA:XAUUSD
by realmillionairefx
1
xauusd ADP NONFARM EMPLOYMENT REPORTADP is performs payroll services for its clients. The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients. The release, two days ahead of government data, is used as a predictor of the government's Labour Market Report. A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD. FORECAST 173K PREVIOUS 192K ACTUAL 152K the data released is less than forecast and also less than previous report, which is too much bearish for dollar. its impact may show up after the us market is opened
OANDA:XAUUSD
by realmillionairefx
XAUUSD H4 - Long SignalXAUUSD H4 Here is the outlook for XAUUSD as it stands, we are firm believers in trading what you see. We can see the DXY took a slight bounce from that 104.000 mark and therefore the DXY is still in bullish demand. That being said, $2330/oz has been our previous area of support for a while now, and we hold our ground until it breaks. Upon a potential break, we can simply change our bias and start trading in line with the new breakout trend (should it sustain). A simple motto we go by, trade what you see and don't fix it unless it's broken. This is the staple of a zone trading strategy. Learn to love your losses when they can occur, because these losses often lead the a monster of a reversal trade.
FX:XAUUSDLong
by Trade_Simple_FX