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Trump’s Tariff Threat: USD/CAD Hits Three-Week HighTrump’s Tariff Threat: USD/CAD Hits Three-Week High As we reported on 3 February, Trump’s tariffs pushed USD/CAD to a 22-year high. However, a one-month tariff delay led to a sharp drop, sending USD/CAD to its 2025 low near 1.41550. As the end of the delay approaches, the pair has been climbing again since mid-February (as shown by the arrow). Yesterday, President Trump confirmed that his proposed 25% tariffs on Mexican and Canadian goods will take effect on 4 March. This dashed hopes for another delay and triggered a breakout above the 1.43600 resistance level. Technical Analysis of USD/CAD Above current levels, key resistance lies at 1.44600, which has held firm since mid-December. However, drastic measures from Trump’s administration could drive further price movement within the blue-marked channel. Expect volatility spikes ahead of Canada’s GDP release, scheduled for today at 16:30 GMT+3. Trade on TradingView with FXOpen. Consider opening an account and access over 700 markets with tight spreads from 0.0 pips and low commissions from $1.50 per lot. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
2
GOLD is under great pressure by the US DollarThe US Dollar Index soared again, which put pressure on OANDA:XAUUSD adding momentum to the adjustment momentum taking place in recent days. Bloomberg said that after US President Donald Trump confirmed he would impose 25% tariffs on Canada and Mexico next week, currency traders bought the US Dollar, while currencies other than the USD were negatively affected, with the Canadian Dollar and Mexican Peso being hit the hardest. The soaring US Dollar is also detrimental to precious metals, commodities and digital currencies. Trump said 25% tariffs on Canada and Mexico would take effect on March 4. He stated on his "Truth Social" account: "Drugs are still flowing into our country from Mexico and Canada in unacceptable quantities. We cannot let this scourge continue to hurt the United States, so until it stops or is tightly controlled, tariffs are proposed." with Canada and Mexico) scheduled to take effect on March 4 will actually take effect as planned." Trump also said he would impose "reciprocity" tariffs of 25% on cars and other European goods. OANDA:XAUUSD In recent times, it has still been going fast and strong, although fundamentally there are still many existing support risks, mainly due to profit-taking activities after a long period of price increases and the strong increase in the price of the US Dollar. Thanks to the influx of money into safe havens, gold prices hit an all-time high of $2,956.15 an ounce on Monday after a rapid downward correction. Gold prices are clearly fluctuating, short-term fluctuations and some profit-taking are just a normal part of the cycle Since the presidential election on November 5 of last year, the Dollar Spot Index has gained 6.62%. Analysis of technical prospects for OANDA:XAUUSD The medium-term uptrend of gold price is threatened when the sell-off momentum brings gold price below the price channel and EMA21, these are negative signals with the next support level being noticed at the price point of 2,835USD, more likely is the 0.382% Fibonacci retracement level. Currently, the $2,880 level is the previous support turned resistance with the 0.236% Fibonacci retracement becoming the nearest resistance. On the other hand, the RSI tests the 50 mark. Once the RSI passes the 50 mark, this will be a warning of continued price decline because there is still room to fall with the RSI quite far from the oversold level. As noted to readers in previous publications and short comments during the day, the downward correction will not stop easily before the original price point of 2,900 USD, so you must always be ready for stronger corrections when gold has had a very long period of technical increase. Although gold has not yet formed a clear downtrend in the medium term, there is still room to fall ahead and notable positions will be listed as follows. Support: 2,850 – 2,835 – 2,814USD Resistance: 2,868 – 2,880 – 2,900USD SELL XAUUSD PRICE 2911 - 2909⚡️ ↠↠ Stoploss 2915 →Take Profit 1 2903 ↨ →Take Profit 2 2897 BUY XAUUSD PRICE 2849 - 2851⚡️ ↠↠ Stoploss 2845 →Take Profit 1 2857 ↨ →Take Profit 2 2863
OANDA:XAUUSDShort
by Xayah_trading
NZDJPY - Shifting Trends Soon!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📉NZDJPY has been overall bearish , trading within the falling channel marked in red. However, it is currently retesting the lower bound of the channel which lines up perfectly with the support zone marked in blue. 📈As per my trading style , as long as the support zone holds, I will be looking for buy setups on lower timeframes. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by TheSignalyst
EURCAD - Follow The Trend!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈EURCAD has been in a correction phase and it is currently approaching the lower bound of the blue channel. Moreover, the green zone is a strong support zone. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of support and lower blue trendline acting as a non-horizontal support. 📚 As per my trading style: As #EURCAD approaches the blue circle, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by TheSignalyst
19
CHFJPY - Bearish Again!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈CHFJPY has been overall bearish trading within the falling wedge marked in red and it is currently in a correction phase approaching the upper bound. Moreover, the green zone is a strong structure. 🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the structure and upper red trendline acting as a non-horizontal resistance. 📚 As per my trading style: As #CHFJPY approaches the red circle, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Short
by TheSignalyst
16
EURUSD - Bullish No More!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 EURUSD has been overall bullish, trading within the rising channel, however it is currently retesting the upper bound of the channel. Moreover, the red zone is the upper bound of its weekly range. 🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the structure and upper red trendline acting as a non-horizontal resistance. 📚 As per my trading style: As #EURUSD approaches the red circle, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Short
by TheSignalyst
6
XAUUSD strong down again 1. Potential for Reversal The analysis assumes a clear bearish move toward the support area. However, price action may react differently to the resistance zone. If buyers step in, we could see a reversal rather than a continuation downward. A false breakdown could trap sellers and push the price back up to retest resistance instead. 2. Market Structure Weakness The chart suggests a Break of Structure (BOS) confirming a downtrend, but the momentum could weaken if volume decreases. The weak low labeled on the chart could act as a temporary liquidity grab rather than a strong bearish continuation. 3. Economic and Fundamental Factors Gold is sensitive to economic news, interest rate decisions, and geopolitical events. If a news event favors gold, this technical setup could be invalidated. USD strength or weakness could shift demand for gold, affecting this price projection. 4. Liquidity Considerations Support and resistance zones are often areas where liquidity is hunted. Market makers may manipulate price to take out stops before the actual move occurs
FOREXCOM:XAUUSDLong
by Fx_Oliviaa
3
Hellena | Oil (4H): SHORT to the area of 67,037 (Wave C).The price is still in a downtrend and I believe that before the price starts an upward movement it needs to complete a big “ABC” correction and a small five-wave formation. I think the price will reach the level of 67,037. This level is quite important, because in its area we need to look carefully for reversal patterns. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
PEPPERSTONE:SPOTCRUDEShort
by Hellena_Trade
9
Hellena | SPX500 (4H): LONG to resistance area of 6140.Dear Colleagues, price has gone lower than I thought it would and now we need to redraw the waves. Apparently, the price has updated the minimum of wave “2”. Therefore, I believe that the price will soon continue the upward movement in wave “3” anyway. The “ABC” correction seems to be completed and the 5915 area served as support for the second time. I expect the price to touch this area once again and then continue to the resistance area of 6140. Or it will immediately start moving towards this area. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
OANDA:SPX500USDLong
by Hellena_Trade
11
USD/JPY Extends Its Bearish JourneyHello, traders! What are your thoughts on USD/JPY? The pair continues its prolonged bearish trajectory, currently hovering around 149.411. The weakness and instability of the US dollar have failed to provide support, making USD/JPY even more lackluster compared to its currency counterparts. From a technical perspective, the bearish momentum has intensified as the previous ascending channel was broken by sellers. A deeper decline is expected, with key downside targets outlined in my analysis. What about you? Are you anticipating further declines in USD/JPY? Let me know your thoughts!
Short
by Bullback_FX
The downtrend dominates, the focus needs attentionGeneral crude oil market and WTI crude oil technical chart TVC:USOIL Still in a downward trend. Trump revoked Chevron's license to operate in Venezuela, which has fueled supply-side market concerns and supported a recovery in oil prices, but they are still on a downtrend and trade policy uncertainty has limited a recovery in demand expectations. The focus of the crude oil market will still need to pay attention to changes in the geopolitical situation, the US Dollar index, and the Trump administration's trade policy. Notable technical levels are as follows. Support: 68.52USD Resistance: 70 - 71.43USD
TVC:USOILShort
by Xayah_trading
Latest EURUSD update todayHello everyone, great to see you again in today’s discussion on EUR/USD. Currently, EUR/USD has extended its decline, trading below 1.0400, under pressure from recent market developments. The US dollar has regained strength following hawkish statements from the Federal Reserve, reinforcing expectations that interest rates will remain high. Additionally, concerns about Europe’s economic stability and weaker-than-expected economic data have put further pressure on the euro. Looking at the technical setup, the pair has broken below the ascending trendline, confirming a bearish breakout. The bears are gaining control, as there are no signs of a bottom forming yet. If a retracement occurs, EUR/USD is expected to retest resistance around the 0.5 - 0.618 Fibonacci zone, which aligns with the confluence of EMA 34, 89, and a key resistance area, increasing the likelihood of further downside pressure. 📉 The preferred strategy in this scenario remains selling, at least in the short term. 🎯 Target levels: 1.033 and 1.028, with a further target at 1.023. What do you think about EUR/USD? Note: This is just a trade idea, so make sure to set Take Profit (TP) and Stop Loss (SL) properly when trading. Happy trading, everyone! Wishing you all great profits!
Short
by Bullback_FX
XAUUSD Short-Term Downtrend in FocusHello traders, let’s analyze today’s gold price action and strategize for this precious metal! Currently, gold is trading around the $2,880 level in the early hours of the final session of the week, marking its lowest point in over two weeks. The metal remains under pressure due to the recovery of the US dollar, with the USD Index (DXY) rising by 0.7%, making gold more expensive for investors holding other currencies. From a technical perspective, gold is likely to extend its short-term downtrend, as long as the parallel descending channel remains intact and defended by the bears. Additionally, the reversal signals from the EMA 34 and 89 are influencing short-term traders’ sentiment, encouraging continued selling pressure. 🔎 Long-Term Outlook: The market's focus is now on the US Personal Consumption Expenditures (PCE) Index, set to be released later today. If the USD maintains its strength, gold may require more consolidation before regaining momentum. The key support level to watch remains the lower boundary of the price channel. What are your thoughts on gold’s next move? Let’s discuss!
OANDA:XAUUSDShort
by Bullback_FX
1
How Can You Use a Spinning Top Candlestick Pattern in Trading?How Can You Use a Spinning Top Candlestick Pattern in Trading? The spinning top candle is a key tool in technical analysis, highlighting moments of market indecision. This article explores what spinning tops represent, how they differ from similar patterns, and how traders can interpret them to refine their strategies across various market conditions. What Does a Spinning Top Candlestick Mean? A spinning top is a candlestick pattern frequently used in technical analysis. It consists of one candle with a small body and long upper and lower shadows of approximately equal length. The candle’s body symbolises the discrepancy between the opening and closing prices during a specified time period, while the shadows indicate that volatility was high and neither bulls nor bears could take control of the market. This pattern signifies market indecision, where neither buyers nor sellers have gained dominance. It suggests a state of equilibrium between supply and demand, with the price oscillating within a narrow range. The spinning top may indicate continued sideways movement, particularly if it appears within an established range. However, if it forms after a bullish or bearish trend, it could signal a potential price reversal. Traders always look for additional signals from confirming patterns or indicators to determine the possible market direction. It’s important to note that the spinning top candle is neutral and can be either bullish or bearish depending on its context within the price chart. The colour of the candle is not important. Spinning Top vs Doji Doji and spinning top candlesticks can be confused as they have similar characteristics. However, the latter has a small body and upper and lower shadows of approximately equal lengths. It indicates market indecision, suggesting a balance between buyers and sellers without a clear dominant force. Traders interpret it as a potential reversal signal, reflecting a possible change in the prevailing trend. The doji candlestick, on the other hand, has a small body, where the opening and closing prices are very close or equal, resulting in a cross-like shape. If it’s a long-legged doji, it may also have long upper and lower shadows. A doji candle also represents market indecision but with a focus on the relationship between the opening and closing prices. Doji patterns indicate that buyers and sellers are in equilibrium, and a potential trend reversal or continuation may occur. How Do Traders Use the Spinning Top Pattern? Traders often incorporate the spinning top candle pattern into their analysis as a way to interpret moments of market indecision. Whether the pattern appears during a trend or at key turning points, its context plays a significant role in shaping trading decisions. In the Middle of a Trend When a spinning top forms in the middle of an ongoing trend, traders often view it as a signal of potential market hesitation. This indecision can indicate a pause in momentum, suggesting either a continuation of the trend or the possibility of a reversal. Entry In such cases, traders typically wait for confirmation of the next price move. A break above the high of the spinning top may signal the trend will continue upward, while a break below the low could suggest the trend may move down. Observing how subsequent candles interact with the spinning top can help a trader gauge the market’s intentions. Take Profit Profit targets might be aligned with key price levels visible on the chart, such as recent highs or lows. For traders expecting trend continuation, these targets might extend further, while those anticipating a reversal might aim for closer levels. Stop Loss Stop-loss orders might be set in accordance with the risk-reward ratio. This placement helps account for the pattern's characteristic volatility while potentially protecting against unexpected movements. At the Top or Bottom of a Trend When a spinning top forms at a significant peak or trough, it often draws attention as a potential reversal signal. This appearance may reflect market uncertainty after a prolonged uptrend or downtrend. Entry Confirmation from subsequent price action is critical. Traders typically observe if the price breaks above the candle (bullish spinning top) or below the candle (bearish spinning top) to determine the likelihood of a reversal. Take Profit Targets could be set at major support or resistance zones. A trader expecting a reversal may look for levels reached during the previous trend. Stop Loss Stops could be placed in accordance with the risk-reward ratio, allowing for the volatility often present at trend-turning points while potentially mitigating losses. Remember, trading decisions should not solely rely on this formation. It's crucial to consider additional technical indicators, market trends, and risk management principles when executing trades. Live Example In the EURUSD chart above, the red spinning top candle appears at the bottom of a downtrend. A trader went long on the closing of the bullish candle that followed the spinning top. A take-profit target was placed at the closest resistance level, and a stop-loss was placed below the low of the spinning top candlestick. There is another bearish spinning top candlestick pattern on the right. It formed in a solid downtrend; therefore, a trader could use it as a signal of a trend continuation and open a sell position after the next candle closed below the lower shadow of the spinning top candle. A Spinning Top Candle: Benefits and Drawbacks The spinning top candlestick pattern offers valuable insights into market indecision, but like any tool in technical analysis, it has its strengths and limitations. Understanding these might help traders use it more effectively. Benefits - Identifies Market Indecision: Highlights moments where neither buyers nor sellers dominate, providing a clue about potential price reversals or continuations. - Versatile Across Trends and Markets: Can signal price consolidation, continuation, or reversal depending on its context. It’s also possible to use the spinning top across stocks, currencies, and commodities. - Quick Visual Insight: The distinctive shape makes it easy to spot on charts without extensive analysis. Drawbacks - Requires Confirmation: On its own, the pattern lacks particular signals, needing additional indicators or price action for confirmation. - Context-Dependent: Its reliability depends heavily on where it forms in the trend, making it less useful in isolation. - Prone to False Signals: Market noise can produce spinning tops that do not lead to meaningful movements, increasing the risk of misinterpretation. Takeaway The spinning top candlestick reflects market indecision and suggests a potential reversal or consolidation. Traders use this pattern as a tool to identify areas of uncertainty in the market. Therefore, it's important to consider the spinning top pattern within the broader context and get confirmation from other analysis tools. If you want to test your spinning top candlestick trading strategy or apply it to a live chart, open an FXOpen account and start trading with tight spreads from 0.0 pips and low commissions from $1.50. Good luck! FAQ What Is a Black Spinning Top? A black (red) spinning top is a variation of the spinning top candlestick pattern with a small body and equal-length shadows. This is different from the white (green) spinning top, as its body indicates a lower closing price. Traders analyse its context, technical factors, and confirmation from other indicators to interpret its significance. What Is a Spinning Top Candlestick? A spinning top candle meaning refers to a pattern characterised by a small body and long upper and lower shadows of roughly equal length. It reflects market indecision, where neither buyers nor sellers hold a clear advantage, and is often used in technical analysis to assess potential trend reversals or consolidations. Is the Spinning Top Bullish or Bearish? The spinning top candlestick pattern is neutral by nature. Its significance depends on the context within the price chart. When it appears at the end of an uptrend, it may signal a bearish sentiment, while at the end of a downtrend, it can indicate a potential bullish reversal. What Does a Spinning Top Candle Indicate? This pattern indicates a period of indecision and balance between buying and selling pressure. Depending on its position within a trend, it can signal consolidation, continuation, or a reversal in price direction. What Is the Spinning Top Rule? There is no fixed "rule" for spinning top trading. Traders typically look for confirmation from subsequent price movements or other technical indicators to decide on a course of action. Is Spinning Top a Doji? Although similar, spinning tops and doji candles differ. A spinning top has a small body with visible discrepancies between opening and closing prices, whereas a doji’s body is almost non-existent. Trade on TradingView with FXOpen. Consider opening an account and access over 700 markets with tight spreads from 0.0 pips and low commissions from $1.50 per lot. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Education
by FXOpen
2
USDX, DXYUSDX price is approaching the support zone of 106.45-105.36. If the price fails to break through the main support zone of 105.36, it is expected that there is a chance that the price will rebound. On the contrary, if the price can break through the level of 105.36, it will have a negative impact on the dollar. 🔥Trading futures, forex, CFDs and stocks carries a risk of loss. Please consider carefully whether such trading is suitable for you. >>GooD Luck 😊 ❤️ Like and subscribe to never miss a new idea!
EIGHTCAP:USDXLong
by Serana2324
3