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USDJPY Bullish Ahead of US GDP AnnouncementHi Traders! USDJPY is in an ascending channel, and there is a bullish outlook on the market. Here are the details: After the pullback from the weekly high, the market seems to have found support near the channel support line. We are now looking for a break and close above the 20 EMA for a confirmation signal to target an exit near the weekly high. Preferred Direction: Buy Entry Level: 143.250 Stop Level: 142.271 Target Level: 145.209 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX
2
Navigating Waves: USDJPY Analysis - Seizing the Double BottomRapid Downslide Following FED News : Downslide suggests that there may have been a negative reaction in the USDJPY pair due to news related to the Federal Reserve (FED). Events and statements from central banks, especially the FED, can significantly impact currency pairs. Formation of Double Bottom Pattern around 141.500 Range : A double bottom pattern is a bullish reversal pattern that forms after a downtrend. If there is a slowdown and a potential double bottom pattern around the 141.500 range, it could indicate a potential reversal in the downward trend. Expectation of Short Impulse Towards 143.787 : The analysis suggests an anticipated short-term upward movement toward the 143.787 level. Traders may view this as a potential scalp opportunity, indicating a short-term trading strategy. Continuation of Bearish Momentum: Despite the short-term upward movement, there is an expectation of the continuation of bearish momentum. This indicates that the overall trend remains bearish, and the upward movement may be considered a temporary retracement rather than a trend reversal. It's important to note that trading in the foreign exchange market involves inherent risks, and market conditions can change rapidly. Additionally, the success of any forecast depends on various factors, including economic indicators, geopolitical events, and market sentiment. For the most accurate and up-to-date information, traders should refer to live market data, technical analysis tools, and financial news sources. Additionally, considering the dynamic nature of the forex market, it's recommended to use risk management strategies and consult with financial experts before making trading decisions.
Long
by wikitrades
2
USDCAD Approaching The 3-Month NecklineHi Traders! USDCAD has formed a head-and-shoulders pattern and is approaching the neckline. Here are the details: There is a current lack of buyers in the market, and the market is trending down with swings of lower highs and lower lows. Our plan is to sell rallies looking for a break below the neckline and target the 3-month low at the 1.33802 level. Preferred Direction: Sell Entry Level: 1.35738 Stop Level: 1.36663 Target Level: 1.33802 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
4
USDJPY Trendline Break Re-TestHi Traders! USDJPY is on a pullback and re-testing the trendline break, which opens up opportunities for short entries on the market's pullbacks. Here are the details: The market recently broke both the support trendline and the descending channel. Our plan is to sell rallies by looking for an entry near the 20 EMA and a target exit near the monthly low. Preferred Direction: Sell Entry Level: 146.750 Stop Level: 148.598 Target Level: 142.862 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
2
USDCHF is ready to Jump by Rounding Bottom Pattern🚀🏃‍♂️ USDCHF has been moving in the Descending channel for a long time, but USDCHF started to increase by hitting the 🟡 Price Reversal Zone(PRZ) 🟡and managed to form a Rounding Bottom Pattern . 🔔I expect USDCHF to move at least to the upper line of the descending channel and possibly break the descending channel as well. U.S.Dollar/Swiss Franc ( USDCHF ) 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.
Long
by pejman_zwin
3
$EURUSD Bulls are Back once AGAIN? - LONGEURUSD Financial Review: Navigating Current Conditions and Projecting Trends" Introduction: The FX:EURUSD currency pair is currently poised for significant developments, with a projected bullish trend following a rapid correction. This analysis incorporates both trend and technical indicators, providing insights into the potential future movements of the pair. Technical Analysis: Our technical analysis, conducted on the 2-hour timeframe using the w.aritas.io indicator, reveals a convergence of probability bands, specifically the On-Balance Volume (OBV) and Relative Strength Index (RSI), as well as Money Flow with Moving Average Convergence Divergence (MACD). This convergence signals a stabilized market with reduced asset volatility, indicative of an equilibrium state. Minor fluctuations may trigger a bullish momentum, attracting further MoneyFlow into the asset. Anticipated Bullish Boost: We anticipate a bullish boost to commence as the pair approaches the critical zone around 1.08275 . Upon testing this zone, a light retracement is expected, followed by a resurgence of bullish momentum. This trend initially formed on October 16, 2023 , coinciding with positive movements in stocks and Treasury yields. Our projection suggests a continuation of this bullish trend towards our target profit zone, TP #2, around the 1.126 mark. USD Strength and Economic Resilience: In contrast to the EUR's projected bullish trend, we maintain the view that the USD is poised for broad strengthening into early 2024. This expectation is grounded in the economic resiliency of the United States and the Federal Reserve's cautious approach, with no imminent easing anticipated until the middle of the following year. These factors collectively position the Greenback favorably for the coming quarters. JPY Weakness and Intervention Concerns: Turning attention to the JPY, notable insights from Bloomberg.com highlight the potential for the yen to weaken by more than 10% due to the Bank of Japan's commitment to ultra-easy monetary policy. This contrasts with the Federal Reserve's tightening stance aimed at curbing inflation. The yen's potential decline, as suggested by Sakakibara, could reach levels near 160, prompting concerns of intervention by the Bank of Japan to mitigate its slide. Additional Context: For further context on the FX:USDJPY situation, readers are encouraged to explore the comprehensive analysis available at www.fxstreet.com This source provides valuable insights into the dynamics shaping the FX:USDJPY currency pair, offering a more detailed understanding of the factors influencing its movements. Conclusion: In summary, the FX:EURUSD pair is poised for a bullish trajectory , with technical indicators signaling a stabilized market. Concurrently, the USD is expected to strengthen, while the JPY faces potential weakness and intervention challenges. Traders and investors should remain vigilant, considering the nuanced interplay of global economic factors influencing currency markets.
Long
by wikitrades
3
🚨CADNZD is Ready to Fall ➖5%🚨✅ CADNZD has managed to break the 🟢Support zone(1.213 NZD-1.202 NZD )🟢, SMA(200) , Yearly Pivot Point(1.202 NZD) , and the Support line . 💡We can consider the movement that CADNZD started about a year ago as a corrective movement in the direction of its previous main movement, which was downward and with high momentum. 🔔I expect CADNZD to continue its downward trend in the coming weeks and drop to at least 1.152 NZD. Canadian Dollar/New Zealand Dollar Analysis (CADNZD), Daily 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
1
GBPCAD can go 🚀UP🚀 to next 🔴Resistance zone🔴🏃‍♂️ GBPCAD has been moving in the Ascending Channel for more than two months and it seems that it can maintain this trend in the ascending channel in the coming weeks. 🏃‍♂️ GBPCAD is currently moving near the 🟢 Support zone(1.712 CAD-1.700 CAD) 🟢 and the lower line of the ascending channel. 🌊In terms of Elliott wave theory , GBPCAD seems to have succeeded in completing the main wave 4 near the lower line of the ascending channel. 🔔I expect GBPCAD to go up to at least the 🔴Resistance zone(1.738 CAD-1.728 CAD)🔴 to complete the main wave 5 . British Pound/Canadian Dollar ( GBPCAD ) 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
3
BluetonaFX - AUDUSD Double Bottom OpportunityHi Traders! AUDUSD looks bullish. There is a double bottom forming on the chart, and there are opportunities for long entires. Here are the details: The market is currently holding above the price rejection support level of 0.65710. Preferred Direction: Buy Entry Level: 0.65737 Stop Level: 0.65494 Target Level: 0.66302 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX
EURUSD TRADE IDEA 30/11/2023In this video, I the possibility for a continuation upwards on eurusd. I also talked about the things I will like to see the market do before I will be looking for entry positions for a long trade. I also talked about the possibility for the price to continue downwards since it's coming off a weekly 61.8 fib level. I talked about what I will expect the market to do before I conclude that the direction of the price has change from an uptrend to a downtrend. I'm sure you will enjoy this video so please give me a boost and also follow me.
by Francisbluepipsfx
📈 AUDJPY: Analyzing Upward Momentum and Potential BreakoutHello fellow traders! Today, let's delve into the FX:AUDJPY currency pair. Here's the breakdown: 🕰️ Timeframe Analysis : The pair is predominantly exhibiting upward momentum on the 4-hour chart, showcasing a bullish trend. ⚖️ 1-Hour Chart Dynamics : However, a closer look at the 1-hour chart reveals an attempt to break the support trend line. A potential breakout is in the cards. ❌ Caution on Breakout : Despite the attempt, there's a likelihood of a fakeout, suggesting a failed breakout. Keep a watchful eye on this development. 📈 Opportunities for Upside : Notably, there are opportunities for an upward move, with support levels evident. I've marked anticipated future upward movements with yellow candles. ⚠️ Risk Disclaimer : This analysis is not a guaranteed trading signal. It's crucial to conduct your research and analysis before making any trading decisions. 🤔 Your Analysis : How are you interpreting the AUDJPY movement? Share your insights and strategies with the community. 👋 Until Next Time : Remember, always trade responsibly. Thank you. See you in the next post! Best regards, Alpha Trading Station
Long
by AlphaTradingStation