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EUR USD IdeaAs our grand Bullback and Continuation Theory from yesterday could still be in play, there is a critical observation to consider: our daily candle wick 1.10089 closed only over the previous range high. From years of trading experience, this is not a bullish move warranting full risk on the bullback. To think like a professional trader, if the market maker didn’t push these highs, what's the reasoning behind it? Did they just grab liquidity and go short, or are we still on the path to continuation? The answer is elusive. Therefore, my swing trade idea here will be scaled down in terms of risk. Here’s my warning if you have a similar trading plan: Be patient. Market makers are extremely tricky, and there's no need to let them hit our stops. Wait for a 4-hour shift before making a trade. We will keep our ideas posted, so stay tuned and let's navigate the market smartly!
Long
by themarketknight
USDJPY H4 27 March 2024 USD/JPY, H4 27 March 2024 The USD/JPY pair touched its weakest level against the U.S. dollar for the third time, nearing the 152.00 level, following Japan's first rate hike since 2007. The Japanese Yen has approached intervention levels last seen in 2022, prompting speculation of potential currency intervention by Japanese authorities. The Japanese Finance Minister indicated openness to considering measures to address the weakening yen, further contributing to market speculation regarding potential intervention. The USD/JPY pair has formed a triple-top price pattern, if a break from current level suggests a solid bullish signal; a drop from current level would suggest a bearish signal. However, there is a divergence as the pair continue to surge Resistance level: 151.85, 153.35📉 Support level: 149.50, 147.65📈
by top_fx
AUDUSD H4 25 March 2024AUD/USD, H4 25 March 2024 The AUD/USD pair has seen a rebound from its recent lows, buoyed by interventions from the Chinese government aimed at strengthening the Chinese Yuan in a bid to stabilise it amid recent weakening. Consequently, the Australian dollar, often viewed as a proxy for the Chinese economy, benefited from the stronger Yuan, experiencing an uptick in value. Traders are now shifting their focus towards the upcoming release of Australia's Retail Sales data on Wednesday, which is anticipated to provide further insights into the strength of the Australian dollar. The AUD/USD pair has rebounded but remains trading with a bearish trajectory. Suggesting the bearish momentum is overwhelming. Resistance level: 0.6590, 0.6640📉 Support level: 0.6484, 0.6410📈
Short
by top_fx
EURUSD H4 25 March 2024 EUR/USD, H4 25 March 2024 The EUR/USD pair is currently facing significant downward pressure, trading close to its key psychological support level at around 1.0800. This pressure comes amid signs of easing inflation within the Eurozone, prompting market speculation about a potential rate cut from the European Central Bank (ECB) in 2024, despite its current hawkish monetary policy stance. Concurrently, persistent inflation in the U.S. is leading the Federal Reserve to adopt a more cautious approach towards rate cuts. This divergence in monetary policy between the two central banks is expected to exert additional downward pressure on the pair. EUR/USD recorded a technical rebound at above 1.0800 after a significant dive. Suggesting that the pair remains trading with bearish momentum. Resistance level: 1.0866, 1.0955📉 Support level: 1.0780, 1.0700📈
Short
by top_fx
GBPUSD H4 25 March 2024GBP/USD, H4 25 March 2024 The GBP/USD currency pair is exhibiting sustained bullish momentum, currently hovering near the 1.2600 level as the market anticipates further developments. Revisions in market expectations regarding a potential Federal Reserve rate cut in 2024 have emerged due to ongoing inflationary pressures in the U.S., contributing to the strengthening of the dollar. Additionally, traders are closely monitoring the upcoming release of the UK's GDP data on Thursday, which is expected to provide insights into the economic health of the UK and its potential impact on the strength of the Sterling. GBP/USD continues to trade with strong bearish momentum despite recording a slight rebound at near 1.2600 levels. Suggesting that the bearish momentum remains strong. Resistance level: 1.2630, 1.2710📉 Support level: 1.2530, 1.2440📈
Short
by top_fx
XAUUSD H4 22 March 2024🔖XAU/USD, H4🔖 22 March 2024 Gold prices dipped from record highs as the US Dollar and US Treasury yields rebounded sharply on the back of positive economic data releases and the Federal Reserve's optimistic forecast. Despite the Federal Reserve's upward revisions for the Gross Domestic Product (GDP) and the Core Personal Consumption Expenditure Price Index (PCE) for 2024, which supported the US Dollar, gold's decline was tempered by ongoing geopolitical tensions and safe-haven demand. Gold prices are trading lower following the prior retracement from the resistance level. Suggesting the commodity might extend. Resistance level: 2185.00, 2240.00📉 Support level: 2150.00, 2117.00📈
FX:XAUUSDShort
by top_fx
USDJPY H4 20 March 2024USD/JPY, H4 20 March 2024 The Japanese yen faced significant downward pressure, tumbling to a four-month low, even as the Bank of Japan announced the end of its negative interest rate policy and quantitative easing measures. Market participants, having already factored in the policy change, engaged in profit-taking, leading to a sharp decline of over 1% in the yen's value. However, the possibility of further monetary policy tightening by the BOJ in response to persistent high inflation could offer support to the yen in the future, warranting continued vigilance among investors for trading cues. USD/JPY is trading higher following the prior breakout above the previous resistance level. Suggesting the pair might enter overbought territory. Resistance level: 151.95, 153.10📉 Support level: 150.80, 149.35📈
Long
by top_fx
USDJPY H4 18 March 2024 USD/JPY, H4 18 March 2024 The Japanese yen experienced significant selling pressure as investors offloaded positions ahead of high volatility events. Despite the sell-off, bullish prospects remain for the Japanese yen, driven by speculation of potential monetary shifts from the Bank of Japan. Tuesday's BOJ meeting is poised to be consequential, with officials deliberating on ending eight years of negative interest rates in a landmark shift away from its stimulus program. USD/JPY is trading higher while currently testing the resistance level. Suggesting the pair might enter overbought territory. Resistance level: 148.35, 150.80📉 Support level: 149.15, 150.80📈
Long
by top_fx
AUDUSD H4 15 March 2024AUDUSD H4 15 March 2024 The AUD/USD pair experienced losses, breaking below crucial support levels as a sharp resurgence in demand for the US Dollar prevailed. Firm inflation data and positive labor market figures contributed to the Dollar's recovery, alongside ongoing speculation regarding the Fed's expected rate adjustments. Further catalysts for the Australian dollar are expected to hinge on China's economic outlook. AUD/USD is trading lower while currently testing the support level. Suggesting the pair might extend its losses after breakout. Resistance level: 0.6625, 0.6685📉 Support level: 0.6560, 0.6485📈
Short
by top_fx
NAS100 Daily Outlook | July 28Hi All, After FOMC news drive yesterday, WHAT ELSE? Here are my thoughts; 1. There is a lot of noise to the left hand side so am capping my profit target for buys from 12565 to 12667 zones. 2. Buying mostly today is also confirmed by my WICK FILL play (join my live session to access my 90% winrate playbook) but traders must not expect price to move aggressively to 12900 rather focus on the closest resistance level 3. There are chances that price can drop up until 12303/12174 levels in near term and this is because; a. We have a strong support level around 12303 b. Previous day's bar does not have a bottom wick hence has the tendency to draw price back to itself. Let me know what you think about my analysis in the comment session. To learn more about my favorite setups and how to perfectly harness pips using them, join my live streaming today. Daily Live Trading session at 8:45AM EST/ 4:45PM GST Pairs: EURUSD / NAS100 / GER30 -Kings.
FX:NAS100
by Kingsley_lotanna
4
EURUSD looking for new support .EURUSD broke that ascending channel and create a new downtrend and it still continue by broking support (1.21700). Now I think it can test our second support (1.20500) and bounce back towards up. If our support(1.20500) denial then it move towards second strong support (1.19600) which previous act as a strong resistance and consolidate there before making new high. If there is any change happen or it move differently then I update you. If you agree then like idea and support me. What you thought mention in comments :)
Short
by only123456
What is going on in GBPCHF ?Trading suggestion: At the first, I suggest that you consider the areas I have identified! There is a possibility of a powerful retracement. that two bearish trends are so strong and I will show you in zoom out in the comment below why I said those are so powerful! If so, traders can set short orders based on Price Action and expect to reach short-term targets. Technical analysis: In a long term, GBPCHF is in a downtrend, and the continuation of the downtrend is expected. The RSI is at 87.60 on daily and 72 on weekly so I think even if GBPCHF wants to break the bearish trend first has to keep calm and fall a little and then keep going for rising ... Notice: in the other hand we have two news for GBP what the second one is Monetary Policy Report Hearings Your Support is very much 🙏 appreciated!❤️ *******Please show your support back, *******Hit the 👍 LIKE button, *******Drop some feedback below in the comment! Trade well, ❤️
Short
by navid97