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Forex Price analysis - GU, AU, UC, UJ and CJWelcome to this week's Forex Price Analysis for the week starting June 30, 2024. We're analysing GBPUSD, AUDUSD, USDCAD, USDJPY, and CADJPY. GBPUSD: The bullish wave structure is broken. High probability sell at 1.2654 targeting 1.2612. AUDUSD: A bearish wave suggests a buy at the low. A strong rally on Friday. Prefer buying after a correction to the 0.6640 buy zone. USDCAD: A bearish move on Friday indicates a revisit to 1.3734. Expect lower prices to 1.3627 before buying. USDJPY: Strong uptrend last week. Bullish wave failed; trend change pattern with a corrective wave in Fibonacci sell-zone. Trade below 160.70 suggests further decline. A break above 160.96 negates selling. CADJPY: Similar to USDJPY. Potential downside after Thursday's high. A strong break of the high on Friday suggests an uptrend continuation. A break below 117.43 indicates a selling opportunity after a pullback.
by Charts247TradingAcademy
THE KOG REPORT THE KOG REPORT In last week’s KOG Report we highlighted the significance of that 2320 level and said that it needed to be broken forcefully, otherwise if supported, we would be looking to long back up into the higher levels as well as Excalibur targets and price will attempt to take liquidity from that 2370-75 region. During the first half of the week, we continued to long into those higher resistance levels giving us a fantastic trade(s), tapping into that 2370-75 region where we got a RIP from our level and the short trade presented itself not only completing KOG’s bullish bias levels but also the first target region for the bearish target. A phenomenal week in Camelot, not only on Gold and Silver, but all the other pairs we trade as well. So, what can we expect in the week ahead? After the move on Friday, we would say caution on shorting the market down here, instead, we’ll look for bounces in the early part of the week to take the price up to correct at least some of this move. Unless we have gaps on opening due to the geopolitical news over the weekend, it’s very possible we will establish a small range here again. For that reason, we will be looking for confirmation at the below levels 2310-12, which if held during the early session could represent an opportunity to long the market back up to the 2325-27 region which for us is the level to watch, with extension of the move into the 2335-40 region. These levels are of importance as that’s where we again will want to be looking for the swing short into the lower support regions, in attempt to break below that 2300 level! We’ll stick with the bias level bearish below for now and look for lower pricing unless broken above, in which case its likely we will again, target the top of the range and correct the whole move. On the flip, a push up straight off market open, we’ll look at those 2325-7 and 2330-35 regions to attempt the short, as long as we have a clean set up. KOG’s bias for the week: Bearish below 2335 with targets below 2310 and below that 2295 Bullish on break of 2335 with target above 2370!! It’s a frustrating sideways chop for traders, so please be careful, every time they look to take it down, they swing up and every time they look like they’re going to break up, they swing it down. Traders need to make sure their risk models are up to scratch and they’re playing the range the way it should be. There is a post on trading the range, please check it out. Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
10
EURUSD is Ready to Fall===>>RR=2.20EURUSD is moving in the Resistance zone($1.092-$1.087) . According to the theory of Elliott waves , EURUSD seems to have succeeded in completing the main wave 5 with the Expanding Ending Diagonal . I expect EURUSD to at least fall to the Support zone($1.0806-$1.0781) . Euro/U.S.Dollar Analyze ( EURUSD), 1-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 gladly 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
11
NZDCAD: Bearish scenarios...! (Details on caption) By checking the hourly NZDCAD chart we can figure out that the bearish scenario is high probability. the price cleared the liquidity above the daily candle and then shifted the market structure and also had a bearish reaction to the bearish order block. Now, we can see the sell side liquidity which formed as equal lows, trend line liquidity, and daily FVG which can be our last target. For seeing this bearish move I can expect two scenarios that you can see on the chart. First, the price can move down from here. second, because of the clean buy-side liquidity we can expect the price to sweep the liquidity first and then move down. (I prefer to follow this scenario) As always we need LTF confirmation for entry. 💌It is my honor to share your comments with me💌 🔎 DYOR 🗓️07/06/2024 💡Wait for the update!
Short
by VahidTradingCR
1
EurUsd - Lower, 1.000 pips lowerHello Traders and Investors, today I will take a look at EurUsd . -------- Explanation of my video analysis: EurUsd has been trading in a descending channel formation for a very long period of time. At the moment EurUsd is once again retesting the upper resistance in confluence with a horizontal structure so there is simply a higher chance that we will see a continuation lower from here. This means that as stock traders - especially from Europe - we can continue to trade our U.S. stock position without worries. -------- Keep your long term vision, Philip (BasicTrading)
Short
by basictradingtv
5
USD/JPY Market Analysis: Downside CorrectionThe USD/JPY has been a tricky customer in the past few weeks. We have attempted a few shorts which did not work out, the price persisted to the upside eventually breaking key structures that hold the downside. The Bullish breaks confirm the Longer-term trend (Bullish) has resumed, however, the current rally is losing steam and we can capture a strong reversal to reset the trend. Overview and breakdown Current Trend: UP-Trend Next Expectation: Downside Correction (Secondary Trend) to discount the rally for a reset of the Up-trend and to offer a lower price discount. Area of target: Target 1: 156.28 & Target 2: 155.23 These areas represent the key structural points. The second target is the most technical point that represents the last untested structure. This point is the safety point for the buyers that enter the bullish trend at a later date. In most cases, the price correction (Secondary trend) will get here. Another important thing to note with the 2nd Target is that; it corresponds nicely with the Fibonacci Buy-Zone measured from the Low of the entire rise to the High. Risk and Stop Loss: Price 157.25; Technical Stop above the Momentum High.
Short
by Charts247TradingAcademy
USDJPY can go UP by Symmetrical Triangle➡️RR=3.68🏃‍♂️ USDJPY is moving in an Ascending Channel (in the Daily time frame ). 📈Regarding Classical Technical Analysis , USDJPY has succeeded in breaking the upper line of the Symmetrical Triangle Pattern . 🔔I expect USDJPY to continue its uptrend due to the breakout of the Symmetrical Triangle Pattern . 👑 Position : USDJPY Position: Long Entry Point: 156.340 JPY (Stop Limit Order) Stop Loss: 155.620 JPY Take Profits: 158.987 JPY// 157.871JPY(RR=2.13) Risk-To-Reward: 3.68 Please don't forget to follow capital management ⚠️ Please pay attention to the style of opening the position.⚠️ U.S.Dollar/Japanese Yen Analyze ( USDJPY ), 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 gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
1
GBPUSD IDEATrend Overview: GBPUSD is currently in a bullish uptrend on the 4-hour time frame. The trend began at 1.23000 and has seen subsequent price movements. Key Price Levels: First High: Reached at 1.26331. Pullback Correction: Occurred at 1.24477, forming the first lower high. Support Zone: Price was rejected from a strong support area between 1.24900 and 1.24600. Recent High: Last Friday, GBPUSD made a new high at 1.27000, representing a potential resistance level. Forecast: Considering the rejection from the recent high, it’s likely that price will pull back toward the previous support level. The target for this pullback is approximately 1.25742.
by joestar95