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EURGBP still showing downside - with warningM Formation on a large scale has formed. We had the price break below and then retest the pattern once again. Thing is we haven't had the price break above the downtrend as of yet. This means, the bias does remain bearish but anything can change if the selling doesn't continue. 200>21>7 (bearish) RSI<50 (Lower highs) Target -0.8200 SMC (Buy Side Liquidity is where Smart Money comes in and sells into the Order Block. However, with the price still flirting at the support means, the selling is not as a strong as anticipated. I'm bearish but cautiously bullish if the price does break above the downtrend.
Short
by Timonrosso
GoldViewFX - MARKET UPDATEHey Everyone, Our chart idea has played out perfectly hitting the bullish targets we shared and in order. We got the retracement followed with the push up to the bullish targets, working perfectly inline with our plans to buy dips. Yesterday we shared the two open targets to 1930 and 1934 within this structure. Both the targets were hit perfectly today. - BOOOOM! We now also have a ema5 cross above the weighted structure opening the range above. However, 1938 is acting as resistance. A further cross and lock above 1938 will provide extra confirmation for this new range to be tested. We will continue to trade from dips and manage any open positions within the range by buying dips. We will continue with our plans to buy dips and track the movement level to level using ema5 cross and lock on our updated Goldturn levels. Our long term projection still remains Bullish. BULLISH TARGETS 1925 - DONE 1930 - DONE 1934 - DONE EMA5 CROSS AND LOCK ABOVE 1934 WILL OPEN THE FOLLOWING BULLISH TARGETS 1938 1944 1950 BEARISH TARGETS 1920 - DONE 1913 - DONE EMA5 CROSS AND LOCK BELOW 1913 WILL OPEN THE SWING RANGE SWING RANGE 1895 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
14
EURGBP downside due to a large M FormationM Formation has been in the making since 19 August 2022. The price then broke below the neckline, restested and is now showing a ton of downside to come. We have other indicators showing bearishness. 200>21>7 (bearish) RSI<50 (Lower highs) Target -0.8200 SMC (Buy Side Liquidity Order Block is clearly shown (green box) Smart Money sells into positions (and sweeps liquidity) from traders who are short (get stopped) and for long traders who buy and enter into their trades.
Short
by Timonrosso
1
⚠️CADCHF crash by Head and Shoulders Pattern⚠️CADCHF managed to form a Head and Shoulders pattern after breaking the uptrend line. Also, CADCHF managed to break the neckline and 🟢 support zone(0.673CHF-0.672CHF) 🟢 in the past hours. 🔔I expect CADCHF to decline at least until the next 🟢 support zone(0.664CHF-0.661CHF) 🟢. 🔅Canadian Dollar/Swiss Franc Analyze ( CADCHF) 4-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
25
BluetonaFX - EURUSD Cup & Handle Pattern OpportunityHi Traders! There is a potential cup and handle pattern here on the EURUSD 1D chart. After the down wave and then up wave, the market has now reached the psychological level of 1.10000. The market has not been around this level for more than a month, so we expect some resistance here, therefore we have drawn the potential cup handle on the chart. The potential cup handle consists of a possible consolidation period near a key resistance level before another attempt to close and break above the level. 1.10000 is the key level; the market must break and close above this level for a continuation upwards. There is a long-term price rejection resistance level at 1.10956; there are also multiple price resistance candles near this level, which we have highlighted on the chart. If this potential pattern fails and there is no bullish momentum to break and close above 1.10000, the chart pattern will change to a bearish pattern, and we will look for opportunities to short. Please do not forget to like, comment and follow. Thank you for your support. BluetonaFX
by BluetonaFX
6
GoldViewFX - MARKET UPDATEHey Everyone, Great start to the week with our chart idea already [laying out to perfection. We got the drop into the highlighted retracement area, which gave the perfect reset bounce back into the range hitting the route map targets highlighted by our arrows. We captured a clean 50 pip signal inline with our plans to buy dips. Price is sitting between the support and resistance structure with immediate targets above at 1930 and 1934. We will need to see the 1934 weighted structure break and lock to open the range above or a break and lock below the retracement range to open the swing range. Failure to lock below the retracement range will follow with a continuation above. We will continue with our plans to buy dips and track the movement level to level using ema5 cross and lock on our updated Goldturn levels. Our long term projection still remains Bullish. BULLISH TARGETS 1925 - DONE 1930 1934 EMA5 CROSS AND LOCK ABOVE 1934 WILL OPEN THE FOLLOWING BULLISH TARGETS 1938 1944 1950 BEARISH TARGETS 1920 - DONE 1913 - DONE EMA5 CROSS AND LOCK BELOW 1913 WILL OPEN THE SWING RANGE SWING RANGE 1895 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
8
BluetonaFX - AUDUSD Trendline Break OpportunityHi Traders! There is a trendline break opportunity on the AUDUSD 2H chart. After the huge bullish momentum push from the Nonfarm Payroll announcement this past Friday, AUDUSD has now pulled back aggressively near the resistance level at 0.67056, which indicates that there is bearish momentum at this current time. For an entry signal, we are looking for a momentum break and a close below the trendline to target the support level at 0.65953, which is also June 2023's low. If we do not get a momentum break and close below the trendline, we can look for buying opportunities just above the trendline for another potential resistance test at 0.67056. Please do not forget to like, comment, and follow. Thank you for your support. BluetonaFX
by BluetonaFX
GoldViewFX - 1H CHART UPDATED LEVELS AND TARGETSHey Everyone, Please see our 1H chart updated Goldturn levels and targets. Price is sitting between the support and resistance structure with immediate targets above at 1930 and 1934 and a retracement reset range at 1913. We will need to see the 1934 weighted structure break and lock to open the range above or a break and lock below the retracement range to open the swing range. Failure to lock below the retracement range will follow with a continuation above. We will continue with our plans to buy dips and track the movement level to level using ema5 cross and lock on our updated Goldturn levels. Our long term projection still remains Bullish. BULLISH TARGETS 1930 1934 EMA5 CROSS AND LOCK ABOVE 1934 WILL OPEN THE FOLLOWING BULLISH TARGETS 1938 1944 1950 BEARISH TARGETS 1920 1913 EMA5 CROSS AND LOCK BELOW 1913 WILL OPEN THE SWING RANGE SWING RANGE 1895 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
13
GoldViewFX - 4H CHART UPDATED LEVELS AND TARGETSHey Everyone, Please see our 4H chart updated Goldturn levels, targets and our updated Goldturn channel. Price finished off last week testing the channel top, just under the 1936 Goldturn, which is due a test. 1936 is a weighted level and will need a cross and lock above this level to open the range above. Failure to break above this level will see price test the channel half-line also inline with the retracement range for a re-test. We will need to see the 1936 weighted structure break and lock to open the range above or a break and lock below the retracement range to open the swing range. Failure to lock below the retracement range will follow with a continuation above. We will continue with our plans to buy dips and track the movement level to level using ema5 cross and lock on our updated Goldturn levels. Our long term projection still remains Bullish. BULLISH TARGETS 1936 EMA5 CROSS AND LOCK ABOVE 1936 WILL OPEN THE FOLLOWING BULLISH TARGETS 1948 1963 BEARISH TARGETS 1917 1899 EMA5 CROSS AND LOCK BELOW 1899 WILL OPEN THE SWING RANGE SWING RANGE 1882 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
1
GoldViewFX - Weekly Chart Gold Projection.Hey Everyone, Please see our weekly chart update which is already playing out as projected. The last update last week is still valid and therefore please review the details below to get upto date. So far we have hit the first part of the analysis highlighted last week, which was the ema5 detachment above that was hit perfectly. LAST UPDATE Hey Everyone, Please see our new updated weekly chart levels and targets. We have also updated our Goldturn ascending channel, which is being respected and highlights a clear long term bullish trend. However, we are seeing price now cross below the channel half-line leaving room for a test to the channel bottom. 1894 Goldturn is providing support, with a clear rejection. Although there's still room for that full test to complete the channel bottom, we also have a EMA5 detachment above, highlighted with the blue circle that will magnetise the new weekly candle this week, also very close to the 1954 AXIS target level. Chart look bearish short term with a long term bullish outlook, as the short term target areas have potential for a nice bounce up. As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
5
BluetonaFX - Forex Weekly RecapHi Traders! Forex Weekly Recap for 03–07 July, 2023: Fundamentals European Central Bank (ECB) member Nagel said that inflation is not reducing as quickly as they would like it to, but he is confident that a hard landing can be avoided. He also mentioned that they still have a long way to go with policy tightening and that the euro system's balance sheet should be significantly reduced in the coming years. The Reserve Bank of Australia (RBA) left the cash rate unchanged at 4.10%, as expected. They mentioned that higher rates are working to establish a more sustainable balance between supply and demand in the economy and will continue to do so. They decided to hold interest rates to assess the impact of rate hikes to date and the economic data. They also mentioned that some further tightening of monetary policy may be required and that the central bank is still determined to return inflation to target and will do what is necessary to achieve it. The Federal Open Market Committee (FOMC) Minutes showed that some participants favoured a 25 basis point interest rate hike, noting the tight labour market and stronger economic momentum in the US. They noted that a mild recession in the US is likely later this year. Almost all participants stated that upside risks to inflation might become unanchored. Bank of Japan (BoJ) Deputy Governor Uchida said that they will maintain Yield Curve Control to help continue easy monetary conditions, as the risk of missing the chance to hit 2% inflation with an earlier policy shift is more crucial than being late in tightening monetary policy. Bank of England (BoE) Governor Bailey mentioned that there is evidence that some retailers are overcharging customers and that the moves by regulators on retail prices will help to lower inflation. He also mentioned that it was not possible for him to confirm a date for when UK interest rates would start to come down. ECB President Lagarde mentioned that the central bank still has work to do to bring inflation back down to their target and that their main priority is to maintain price stability. She also mentioned that inflation has started to decline, but it is still higher than their 2% target. Key Data US ISM Manufacturing PMI came in worse at 46.0 vs. 47.0 expected and 46.9 prior. US June ADP employment came in better at 497K vs. 228K expected and 278K prior. This was the largest increase since February 2022. US Initial Jobless Claims came in worse at 248K, an increase vs. 245K expected. The US ISM Services PMI came in better at 53.9 vs. 51.0 expected and 50.3 prior. US Job Openings in May came in worse at 9.824 million vs. 9.935 million expected. The US Nonfarm Payroll (NFP) came in worse at 209K vs. 225K expected and 339K prior. The unemployment rate came in at the expected 3.6%, and 3.7% prior. Technicals  Due to the weak NFP and Intial Jobless Claims data out from the US this week, the US dollar's counterparts have strengthened as the US economy showed some fragility. AUDUSD 1W Chart There is a bullish bias on the AUDUSD weekly chart; there is an ascending triangle forming on the chart, and if the bullish momentum continues, there is a resistance target at 0.68999. USDJPY 1W Chart USDJPY has pulled back from the 145 level and, due to current weakness in the US economy, may be heading to the 140 level. Below 140, there is also support around the 138 area, which is the area where we had the triangle break. EURUSD 1W Chart EURUSD is heading back towards the 1.10000 level for a retest of the original pullback at that level last month. If 1.10000 gets broken, then there is another key resistance level at 1.10956. GBPUSD 1W Chart GBPUSD is currently near June 2023's high at 1.28486. A break above this level, and there is a likely target of the psychological level at 1.30000. We will be back with another Forex Weekly Recap report next week. Best of luck for the trading week ahead. Trade safely and responsibly. BluetonaFX
by BluetonaFX
GoldViewFX -END OF DAY/WEEK UPDATEHey Everyone, PIPTASTIC finish to the week with another great trading day. Yesterday we stated that if price breaks the channel half line we will see another test to the channel top - This played out perfectly with the channel half line cross and lock opening the channel top for a re-test, which was hit perfectly. Our plan to buy from dips once again was executed to perfection catching another ride up from the bottom to the top. We will now come back Sunday with our multi timeframe analysis and trading plans for the coming week. Please don't forget to like, comment and follow to support us, we really appreciate it. Have a great weekend everyone! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
13
BluetonaFX - EURUSD USDJPY NFP Multi-chart AnalysisHi Traders! The Nonfarm Payroll (NFP) announcement came in at 205K, which was weaker than the expected number of 225K, and the markets have reacted quite strongly to the news. This could be a possible reversal of the bullish trend we have seen for the US dollar, and it will be very interesting to see what the Federal Reserve and other finance officials say about this. On both charts below, we can see the stark contrast in price action between EURUSD and USDJPY. Both products on the 1H chart had a trendline break with huge momentum; we have highlighted this on the volume indicator. EURUSD is now extremely bullish and is targeting the psychological level of 1.10000. USDJPY is now bearish, and we are now looking at a possible break below the 142 level and even 140. This all depends on what the Federal Reserve says in reaction to the weak data and if they hike interest rates at their next interest rate decision announcement. Please do not forget to like, comment and follow. Thank you for your support. BluetonaFX
by BluetonaFX
GoldViewFX - Market UPDATEHey Everyone, Another great trading day for us with our levels being respected and playing out as analysed. We finished off yesterday highlighting the rejection on the channel top and then possible support on the channel half line. This played out as expected with the half line providing the support for a nice bounce that allowed us to capture a clean 50 pips. We then saw price break below the half-line after the news release into the retracement range, which also provided a nice bounce back into challenging the channel half line again. Price is tracking within the Goldturn channel and levels are being respected. If price breaks above the channel half line again, we should see another test to the channel top. Failure to cross the half-line and we will see another test to the retracement range. A break below the retracement range will open the swing range. NFP tomorrow so we are expecting swings and need to manage risk accordingly when tracking the moves level to level. Our levels are very much active and still in play and therefore can expect price reaction to each level test. As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
6