Lambo money from EURUSD Longs?FX:EURUSD has mitigated its daily OB and made a 4H BoS to the upside, and the next major daily level & OB is 200 pips away.
Dollar
DXY Will Go UP! Buy!
Hello,Traders!
DXY is about to retest
The rising support line
From where I would be
Expecting a bullish rebound
And a local move up
Buy!
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XAUUSD Technical Analysis 4th March 2024 1h chart– Previous Weekly candle closed extremely Bullish above recent Weekly Resistances, Friday Daily candle also closed strong Bullish around 2082.900. I’ll be looking for potential Buys above 2088.500 targeting Asian session open formed back on 4th December 2023 around 2096.000 and the Pre Asian session formed on 4th December 2023 aswell around 2110.000. I’ll be looking for potential Sells below 2080.000 targeting previous Weekly Resistance formed on 4th December 2023 around 2072.000 and previous Monthly Resistance formed in January 2024 around 2063.000. As the Friday Daily candle has been extremely Bullish there is a higher probability for price to correct The breakout.
XAUUSD (Gold): In downward channelSeeing a downward channel so expecting further bearish bias from here.
Fundamentals seem to be supporting this too, with cease fire talks in middle east, and I'm expecting continued strength from the dollar this week, supported by the fundamentals news on Thursday and Friday.
We're posting HH and HL formation and expect this to continue through this week.
DXY PullbackBefore going higher in the TVC:DXY , I'm expecting it to pull back to its 4H order block.
After that I'm expecting the dollar to get stronger, as we are in a bullish trend.
If breaks below current lows, I'd expect to go down, otherwise I can see it mitigating the OB above before heading to the one below.
Crude Oil WTI - Analysis (ICT)Simple analysis on the Monthly timeframes.
There is trendline liquidity residing above, which I believe is the next draw on price.
With that in mind, I noticed price react nicely off of a 5-Month FVG and Orderblock. With that in mind, I'm anticipating price using the current Sibi that it is in to become an iFVG. I would like to see a Monthly candle close above it and then use it or a created Bisi as support to trade higher.
Life is simple, don't complicate it.
- R2F
✅AUD_USD LOCAL SHORT🔥
✅AUD_USD grew again to retest the resistance of 0.6541
But it is a strong key level
So I think that there is a high chance
We will see a bearish pullback and a move down
SHORT🔥
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GBPUSD - Analysis (ICT)This is a possible scenario for GBPUSD, annotated on the 1h timeframe.
Price just took out sellside liquidity and reversed back up rapidly during news on the 1st March 2024. There is much trendline liquidity residing above, but there is also a 3-week and monthly FVG below (off screen).
The narrative I have in mind is for price to at least either make one more high near the C.E of the NDOG or slightly piercing the trendline, then heading to the downside. Or, for a bullish scenario, price breaks convincingly above the trendline, then finds support to move higher.
Let's see what unfolds.
- R2F
Dollar Index (DXY): Trading Plan For Next Week Explained 💲
Dollar Index is coiling around a solid rising trend line.
We can see a nice consolidation on a 4H time frame.
To buy the market with a confirmation,
look for a bulilsh breakout of 104.3 resistance.
4H candle close above that will confirm a violation.
A bullish continuation will be anticipated then at least to 104.65
Alternatively, a bearish breakout of a trend line may trigger a bearish continuation.
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DXY Potential UpsidesHey Traders, in today's trading session we are monitoring DXY for a buying opportunity around 103.700 zone, DXY is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 103.700 support and resistance area.
Trade safe, Joe.
DXY trap!hello everyone, at this point you must wait for DXY to breakout, there is alot of mix up with the fundamentals causing manipulation in market... however, the overall direction of DXY is still bullish...
For bearish confirmation the price need to break below 103.4
For bullish confirmation the price need to break above 104.45
Dollar Surges as German PMI Data Triggers Reversal SignalsThe dollar index has surged strongly following today's release of the German Flash Manufacturing PMI, revealing a contraction in industry expansion with a reading of 42.3. This unexpected downturn not only affects the Euro but also casts implications on GBP pairs. The disappointing figures have sparked concerns among investors, potentially exerting downward pressure on both cross pairs against the USD and paving the way for a correction that could boost the Dollar's value.
From a technical standpoint, the USD appears to be rebounding, finding support at the dynamic trendline of the uptrend. This coincides with the convergence of the 200 Moving Average and the 50% Fibonacci retracement level from the previous swing low, suggesting a significant level of support for the currency. Additionally, the Relative Strength Index (RSI) has dipped into oversold territory, indicating a potential reversal in price direction. Traders are closely watching for signs of a correction and subsequent increase in the Dollar's strength.
In light of these technical indicators, attention is turning to the possibility of employing a cross Moving RSI average strategy with a 70-30 trigger as confirmation.
This strategy, which is detailed in an educational post linked below, could provide further insight into market movements and assist traders in navigating the current landscape of uncertainty.
As market participants analyze the implications of the German PMI data and monitor technical signals, the trajectory of the Dollar index remains uncertain. However, with the potential for a correction in the cross pairs against the USD and the technical indicators suggesting a rebound, traders are advised to stay vigilant and adapt their strategies accordingly to capitalize on emerging opportunities in the forex market.
XAUUSD Technical Analysis 1st March 2024 1h chart– Thursday Daily candle closed extremely Bullish around 2044.500 breaking above recent Daily Resistance. I’ll be looking for potential Buys above 2050.800 targeting 4h Resistance around 2056.900 and Weekly Resistance around 2062.900. I’ll be looking for potential Sells below 2041.500 targeting 4h Support around 2034.500 and 30min Support around 2028.200. High Impact News ahead of the New York session for the US Dollar which may create volatility in the market.
XAUUSD Technical Analysis 29th February 2024 1h chart– Wednesday Daily candle closed Bullish within recent Daily Range as price continue to consolidate. I’ll be looking for potential Buys above 2038.100 targeting previous Weekly Support formed on 8th January 2024 around 2045.400 and 1h previous Support formed on 2nd February 2024 around 2052.500. I’ll be looking for potential Sells below 2030.300 targeting Daily Support formed around 2024.300 and 4h Support around 2017.000. The High Impact News ahead of the New York session for Thursday might be the token for price to break out of the current Daily / 4h range.
DXY Potential UpsidesHey Traders, in today's trading session we are monitoring DXY for a buying opportunity around 103.900 zone, DXY is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 103.900 support and resistance area.
Trade safe, Joe.
DXY Head and Shoulder Pattern 4HDXY Head and Shoulder Pattern 4H
Possible formation of a head and shoulders pattern on the 4H timeframe.
Pattern is a reversal pattern, could possibly break the 4H trendline to continue the daily timeframe downtrend. Would be looking for shorts from the 50% to 61.8% Fib levels.
Further confluence is the RSI showing now entering overbought levels on the 4H timeframe.
If price breaks past the previous lower high on the 4H timeframe, trade will become invalid.
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EURUSD: Looking to resume downtrendThis current bullish move looks to be running its course, resembling a bull flag.
Will be waiting for a confirmation on LTF's to get in short, hopefully before the big news on Friday, which I expect to confirm interest rates staying as they are for longer, and a hawkish fed.
GBPUSD: Expecting a drop from hereEven though sterling has found recent resilience, we are in a long-term down trend.
I believe the recent rally must end, fundamentally the pound is much weaker than the dollar, the UK is in recession and the US looks likely to avoid one.
The FED will start cutting rates, but I believe the BoE will act sooner (or at the same time) because it doesn't have the grace of a strong economy.
On the LTF's we're at the top of this current dynamic rising range, but I think we may see a break of the lower boundary, and if we do this will be the resumption of the downtrend.
AUD/USD to test monthly supportWith US inflation and jobs data showing signs of strength, I think interest rates won't be cut as soon as once thought. Therefore, this is an opportunity for the dollar to rally. I think the Aussie could test monthly support at around .6330.
The U.S. Dollar Maintains DominanceAsian markets approached Wednesday cautiously in anticipation of a forthcoming U.S. inflation report, which holds potential to influence the Federal Reserve's timeline for implementing monetary easing. Concurrently, the New Zealand dollar experienced a significant decline following the central bank's softened stance on interest rates.
New Zealand's central bank maintained the cash rate at 5.5%, emphasizing that prior rate hikes had mitigated inflationary pressures, albeit acknowledging reduced prospects for further rate increases. Consequently, the kiwi weakened to $0.61235, marking a 0.75% decline for the day.
Charu Chanana, Saxo's head of currency strategy, noted surprise among investors regarding the Reserve Bank of New Zealand's reluctance to pursue additional rate hikes, though she emphasized the New Zealand dollar still presents a favorable carry amidst low volatility.
Meanwhile, the Japanese yen held steadfast around the psychologically significant level of 150 per dollar, with the Nikkei experiencing a 0.2% decline for the day after reaching new record highs earlier in the week.
In broader Asian markets, MSCI's index of Asia-Pacific shares outside Japan retreated slightly by 0.11%, hovering near a seven-month peak. Chinese stocks demonstrated mixed performance, with Hong Kong's Hang Seng index declining by 0.31% while China's CSI300 blue-chip index advanced by 0.46%.
Investors are closely monitoring the upcoming release of the personal consumption expenditures price index (PCE) for January, the Fed's preferred inflation gauge. Expectations suggest a 0.3% monthly increase in January, slightly higher than December's 0.2% uptick.
Recent robust economic indicators coupled with persistent inflationary pressures have led traders to significantly revise down their expectations for aggressive early interest rate cuts by the Fed. The easing cycle is now anticipated to commence in June, compared to initial expectations for March, with markets now pricing in 77 basis points of cuts for the year, down from 150 bps projected earlier.
Yuting Shao, macro strategist at State Street Global Markets, highlighted the significance of individual data releases for influencing the Fed's data-dependent approach and impacting investor sentiment.
In addition to the PCE index, other key data releases this week include the second estimate of gross domestic product, jobless claims, and manufacturing activity, all of which will contribute to shaping expectations regarding Fed policy.
Federal Reserve officials have recently cautioned against premature rate cuts, with Governor Michelle Bowman emphasizing potential upside risks to inflation that could impede progress or even lead to a resurgence of inflationary pressures.
Elsewhere, the Australian dollar experienced minor fluctuations following data indicating consumer price inflation remained at a two-year low in January, reinforcing expectations that interest rates are unlikely to rise further. The dollar index, which measures the U.S. dollar against six major currencies, recorded a marginal 0.01% increase.
In commodities markets, U.S. crude declined by 0.41% to $78.55 per barrel, and Brent crude stood at $83.31, down 0.41% for the day, as the possibility of a delayed U.S. rate-cutting cycle offset the positive impact of discussions regarding potential extensions to production cuts by OPEC+.
Spot gold edged up by 0.1% to $2,030.83 an ounce.
XAUUSD Technical Analysis 28th February 2024 1h chart– Tuesday Daily candle close weak Bearish rejecting the upside and respecting recent Daily Resistance. I’ll be looking for potential Buys above 2038.100 targeting previous Weekly Support formed on 8th January 2024 around 2045.400 and 1h previous Support formed on 2nd February 2024 around 2052.500. I’ll be looking for potential Sells below 2027.500 targeting 1h previous Support formed on 21st February 2024 around 2020.700 and 4h Support formed around 2015.700. As price ranged within the 4h timeframe during this week.
Dollar Index (DXY): Detailed Multiple Time Frame Analysis 💵
Multiple time frame analysis for Dollar Index.
Daily/4h time frames analysis.
Price action.
Key levels.
Potential scenarios.
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XAUUSD Technical Analysis 27th February 2024 1h chart– Monday Daily candle closed Bearish forming Daily Resistance at 2035.300. I’ll be looking for potential Buys above 2035.200 targeting 1h Resistance at 2041.000 and Weekly Resistance formed around 2049.200. I’ll be looking for potential Sells below 2026.800 targeting 1h previous Support formed at 2020.700 and 4h Support around 2015.700. High Impact News ahead of the New York session for the US Dollar.
