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GBPUSD SHORT TO $1.24300 (UPDATE)Once again overnight (Asia session) GU shot back up again towards our Wave 5 entry zone, rejected it again & is running 70 PIPS in profit so far. Me & my Gold Vault Academy students understand that Wave 5 being the FINAL IMPULSE WAVE, means that wave will move slowly & trap in a lot of early buyers before it reaches its target. As an Elliott Wave trader, you need to learn to be generous with your SL as we are long term traders trading the higher TF’s, not scalpers👌
Short
by BA_Investments
GOLD → A break of 2600 will make buyers panicFX:XAUUSD is returning to the sell-off phase due to the change of fundamental background. Buyers are unwinding their positions and the price is entering the sell-off zone The main reason for the fall is the ceasefire between Israel and Hezbollah. The first rumors appeared early Monday morning and the market reacted accordingly. Everyone is still waiting for the actual confirmation of the rumors. Also Trump is beginning to hint at increased tariffs on goods from Canada, Mexico and China. Active actions will start in January, after the inauguration of the new US president. But, the risks are still high due to the escalated conflict between Russia and Ukraine. Technically, gold is returning to the channel, marking a strong resistance at 2632 and 2620. (a retest of the zone is possible before a further fall). Resistance levels: 2632, 2620 Support levels: 2605 A price consolidation below 2620 or below 2605 will strengthen the sell-off phase. The fundamental background is weak, which increases the pressure of bears. In the mid-term, I expect the decline to continue after the breakdown of 2605-2600 Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
19
GOLD FURTHER SELL OFF?! (UPDATE)After a strong 1,000+ PIPS sell off yesterday, bearish momentum is still holding strong on Gold & keeping prices down. Yesterday's sell off would be considered as Wave 1 of the Bearish correction, which means any minor wave 2 correction we see, this would be your chance to get into sell positions if you haven't already. I will be looking to get into further sell positions for my Gold Fund investors if market structure offers the opportunity. I will NOT be sharing my additional entries on here for free.
OANDA:XAUUSDShort
by BA_Investments
2
GBP/USD - H1 - Broadening Wedge The GBP/USD pair on the H1 timeframe presents a potential selling opportunity due to a recent formation of well-defined Broadening Wedge pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 1.2532, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 1.2442 2nd Support – 1.2375 Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Short
by KABHI_TA_TRADING
5
GOLD → An unexpected shakeup. What's next? 2700 or 2600?FX:XAUUSD closed the session perfectly on Friday, hinting that it was preparing to move up to conquer the highs. But Monday morning's news shook up the market, eliminating buyers. What happened and what to expect? Gold's decline in the Asian session was due to news from the Middle East, with Israel tentatively approving a ceasefire agreement with Hezbollah in Lebanon. But, on the other hand - the escalation of the conflict in Eastern Europe, where the situation has become more complicated to some critical limits over the past few weeks. This is a two-edged sword. The market will react to any news coming from the two regions. No economic news is expected on Monday. Technically, the focus is on the sideways range of 2731 - 2660 and internal levels, among which the price may look for support.... Resistance levels: 2673, 2689, 2731 Support levels: 2660, 2643 If the price consolidates above 2673, then we should wait for a retest of 2689 (0.5 fibo). If the bulls continue to press the market, the gold may test 2721. But if the bears hold 0.5-0.7 fibo and retest 2660, then we should wait for a correction to the zones of interest and liquidity before a possible pullback Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
18
EURUSD 25/11/24Starting the week a little later than usual with a markup on EUR/USD. Following weeks and months of bearish price action, we continue to anticipate further downside movement. This outlook aligns with our daily bias, which indicates a bearish trend. The market opened with a significant gap to the upside across most brokers, increasing the likelihood of the gap being closed. Additionally, there is an untapped supply area above the current price level. Two liquidity highs are situated above this area, suggesting a potential pullback to liquidate these levels. If this occurs, we will look for continued sell-side movement. However, pullbacks are not guaranteed during trending conditions. If the price continues to expand downward without retracing, our first target will be the gap left open at the market's opening. Beyond that, we will focus on the major low marked at the base of the current move. Please be mindful of key fundamental events this week, as they may cause a midweek shift in our bias. For now, our outlook remains bearish, and we are focused on identifying sell opportunities. Refer to the points on our charts for guidance on potential downside movement. If the supply area and liquidity highs are reached but fail to trigger a bearish shift, it may signal a deeper pullback on higher timeframes. Stick to your plan, manage your risk, and trade safely. Wishing you an amazing trading week!
by PipSurfingSociety
Is GBP/USD Set for a Further Rally? Let's have a look.The GBP/USD pair made a robust recovery at the beginning of the week, showcasing strength against its major competitors. This bounce-back comes after a notable decline on Friday, triggered by disappointing economic data. Specifically, the UK Retail Sales contracted at a faster-than-anticipated rate in October, and the flash S&P Global/CIPS Composite Purchasing Managers’ Index (PMI) for November fell below the critical 50.0 mark for the first time since October 2023. The primary factor contributing to the Pound Sterling's resurgence appears to be strong market sentiment regarding the Bank of England's (BoE) potential for a more measured approach to policy easing compared to other Western central banks. Notably, the currency is trading within a demand zone, suggesting the potential for upward movement. Additionally, the Commitment of Traders (COT) report indicates that retail sentiment is leaning bearish; however, similar to the EUR/USD, the opening gap might be filled, which could lead to a further decline in prices. A decline towards the 1.2400 level could present an attractive buying opportunity for those looking to acquire the Pound at a discount. Historical seasonality trends also indicate a likelihood for the GBP to appreciate in the near term. Nevertheless, I recommend waiting until Wednesday, following the release of the USD unemployment data, before making any trading decisions. Currently, my outlook remains bearish on the GBP/USD. GBP/USD GAP ✅ Please share your thoughts about GBP/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
by FOREXN1
1
EUR/USD Outlook: Strong Demand and Uncertain Economic SignalsThe EUR/USD pair has experienced a notable rebound, aligning with our previous outlook as it approached a robust weekly demand zone at the onset of the new weekly candle, marked by a bullish gap. Recent data from Germany indicates a decline in the IFO Current Assessment Index, dropping to 84.3 in November from 85.7. Meanwhile, the Expectations Index decreased slightly from 87.3 to 87.2. Despite these figures, the euro appears resilient, seemingly brushing off the negative data. On the other hand, downward pressure on the US dollar remains limited, fueled by recent economic indicators that suggest the Federal Reserve might be inclined to scale back the pace of interest rate cuts. This week’s unemployment claims data, set to be released on Wednesday, has the potential to move the markets significantly, especially if the figures come in more favorable than the forecast, which anticipates an uptick in unemployment. Interestingly, there is the possibility of an upward thrust in the weekly DXY chart, although it has yet to be confirmed by trading volumes. Given the current market dynamics, it may be prudent to hold off on making any moves until Wednesday. This will allow traders to assess potential retracement opportunities as the market may look to recover the gap created during the Asian session. EUR/USD Gap ✅ Please share your thoughts about EUR/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
by FOREXN1
1
XAUUSD - The rise of gold is over!?Gold is above EMA200 and EMA50 in the 4H timeframe. In case of a corrective movement with low momentum, we can witness the continued rise and see supply zones and sell within that range with a suitable risk reward. After enduring two weeks of sharp declines following Donald Trump's election victory, the gold market bounced back with a strong bounce last week. The price of this precious metal grew in all trading sessions of the week and by Friday afternoon, with an increase of nearly 150 dollars, it once again attracted the attention of investors. Commerzbank commodity analyst Carsten Fritsch notes that the Swiss Federal Customs Service released data on gold exports in October this week. "These data showed very different trends. Deliveries to China were significantly weaker at just 5 tonnes. Almost no gold was exported to Hong Kong. On the other hand, exports to India have increased. However, the export level in October was still relatively low at 11.7 tons. A little more gold than the previous month has been delivered to America. However, inflows of 30 tonnes into US-listed gold ETFs, reported by the World Gold Council (WGC), in October were higher than the 9.4 tonnes reported. The sharp increase in Swiss gold exports to the UK to 31.9 tonnes is surprising, although gold ETFs listed there recorded outflows in October, according to the World Gold Council. Darin Newsom, chief market analyst at Barchart.com, stated in his analysis of the future trend of gold: "The path of movement of gold is still upward. But due to the speed and intensity of the recent upward trend, there is a possibility of a sudden correction in the market. This risk increases due to the Thanksgiving holiday in the United States and the end of the month." He also emphasized: "Despite this, geopolitical factors continue to play a decisive role in the market. The current chaos has overwhelmed technical analysis and Russian President Putin has not backed down from his nuclear threats. These conditions will most likely lead investors to buy gold until the end of 2024." Next week, the US economic calendar will be shorter than usual due to the Thanksgiving holiday, but several key reports will continue to be in the focus of traders. On Tuesday, the Conference Board's consumer confidence index for November and new home sales for October will be released in early market hours. Next, the minutes of the last meeting of the Federal Reserve Open Market Committee (FOMC) are published. On Wednesday, key data releases will be limited to the early hours of the day due to the Thanksgiving holiday. The market will watch the release of the Personal Consumption Expenditure (PCE) core inflation index for October, which is one of the key indicators considered by the Federal Reserve to assess inflation. At the same time, the statistics of durable goods orders and the weekly report of unemployment claimants will also be published. Then, pending home sales figures for October will be released, which will provide a clear picture of housing market trends.
FOREXCOM:XAUUSDShort
by Ali_PSND
Could the price bounce from here?US Dollar Index (DXY) is falling towards the pivot which is an overlap support and could bounce to the 1st resistance which acts as an overlap resistance. Pivot: 106.35 1st Support: 105.22 1st Resistance: 108.55 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
TVC:DXYLong
by ICmarkets
Gold continues rally from 2650?Dear traders, Tom here! Spot gold hit a near two-week high in the Asian session as the worsening Russia-Ukraine conflict benefited traditional safe-haven assets. The weekly uptrend appears to be unaffected by bets for a less aggressive Fed easing, continued USD buying and the prevailing risk-on environment. At the time of writing, gold is hovering around $2,683 and up 0.51% on the day. Technically, gold confirms bullishness, we are watching the resistance zone ahead after a false break of 2,686, a break would be bullish while a hold would be bearish. But in any case, the preference remains on the buyers, as interest in the metal as a hedge has returned. Medium-term target could be 2,710-2,750
OANDA:XAUUSDLong
by TomtradeFX