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AUD/USD Movement: Technical and Economic PerspectivesThe AUD/USD exhibited sustained growth throughout the previous week, aligning with our earlier forecast. It reached the 0.6580 level, where we identified a convergence of technical, seasonal, and economic indicators. Technically, both the H4 and H8 timeframes show divergence on the stochastic indicator within the 78.6% to 61.8% Fibonacci range within a bearish channel. A probable reaction is anticipated at the FVG Area, potentially leading to a retracement towards the 200 Moving Average, around 0.65200, coinciding with the Point of Control (POC) Volume. Our analysis suggests a further downward movement, considering the historical bearish sentiment typically observed during this period for this currency pair. Additionally, Warren Hogan, the chief economic adviser at Judo Bank, has speculated that the Reserve Bank of Australia (RBA) might implement three cash rate hikes throughout 2024, eventually reaching 5.1%, with the initial hike likely in August. Investors are eagerly awaiting the release of March Retail Sales data scheduled for Tuesday, as it offers crucial insights into Australia's consumer spending behavior, which significantly influences inflation and GDP trajectories.
by FOREXN1
1
🚨AUDUSD will Fall by H&S Pattern🚨🏃 AUDUSD is moving near the 🔴 Resistance zone($0.598-$0.593) 🔴 and managed to break the Support lines . 📈From the point of view of Classical Technical Analysis , it seems that AUDUSD has succeeded in forming a Head and Shoulders Pattern . 🔔I expect AUDUSD to fall at least to the 🎯 Target 🎯 I have specified on the chart. New Zealand Dollar/U.S.Dollar Analyze ( NZDUSD ), 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
3
An unimaginable short from the depths of analysisHello Traders ;] As I examined the GBP/USD pair, it appears we're in a prime position for a short trading strategy. The pair has retraced into the 0.79-0.61 zone, a classic area that often signifies a natural correction within a trend. Such retracements can offer strategic entry points for traders looking to capitalize on potential reversals. Furthermore, a glance at the volume profile over the entirety of the visible price movement indicates that we've reached the Value Area High (VAH). This point in the volume profile is particularly telling; it's where the majority of trading activity has taken place, acting as a barrier of sorts—a 'strong wall'—which the price may struggle to break through. Consequently, this serves as a strong indication that the pair may recoil from this level. In setting up this trade, placing a stop loss just above the VAH would be a prudent measure, limiting exposure should the market move contrary to our expectations. For the profit target, we look to the opposite end of the volume profile, the bottom. This analysis not only aligns with the technical indicators, but also with the principle of selling into strength within a downtrend—a strategy often favored by seasoned traders looking to join the broader market momentum. Good luck strugglers!
Short
by Vezzeris
EURAUD:🔴Bearish scenario🔴 Well, as you can see, the price purged the weekly external range liquidity, had a bearish reaction, and shifted the market structure, most likely we are on the sell side of the curve now. Recently the price took the sell side liquidity which can cause the price to move higher to collect the buy side liquidity and then drop to draw on liquidity. The price can move lower from here to 4-hour FVG and collect the first sell-side liquidity. If the price goes higher we can sell above buy-side liquidity, by lower time frame confirmation. 💡Wait for the update! 🗓️22/04/2024 🔎 DYOR 💌It is my honor to share your comments with me💌
Short
by VahidTradingCR
3
⭐️ GBP/USD : Navigating Supply and Demand Shifts (READ CAPTION)Hello Traders , Upon recent analysis of the GBP/USD chart in the 2-hour timeframe, it is observed that the price is near the supply zone of 1.25. If it can stabilize below this level, we can expect a further decline in GBPUSD! The scenario I have in mind is marked on the chart. The demand levels are, in order, within the ranges of 1.237 to 1.237, 1.2345 to 1.23690, and 1.23 to 1.23270. Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! Best Regards , Arman Shaban
Short
by ArmanShabanTrading
4
EURUSD will Attack to Support zone⚔️===>>(➡️RR=2.92)🏃‍♂️ EURUSD is moving in the 🟢 Support zone($1.0695-$1.0626) 🟢, but I expect it to be broken based on the explanation below 👇. 🌊According to the theory of Elliot waves , EURUSD seems to have completed the Double Three Correction(WXY ) in the 🟢 Support zone($1.0695-$1.0626) 🟢. 📈Regarding Classic Technical Analysis , EURUSD has successfully formed an Ascending Broadening Wedge Pattern Reversal Pattern . 💡Also, we can see Regular Divergence(RD-) between two Consecutive Peaks. 🔔I expect EURUSD to go DOWN at least to the lower line of the Ascending Broadening Wedge Pattern , and EURUSD will probably break the 🟢 Support zone($1.0695-$1.0626) 🟢. -------------------------------------------------------------------------- EURUSD 🔴Position: Short ✅Entry Point: 1.06975 USD (Limit Order) ⛔️Stop Loss: 1.07420 USD 💰Take Profit: 💰Take Profit: 🎯1.06303 USD👉Risk-To-Reward: 1.51 🎯1.05674 USD👉Risk-To-Reward: 2.92 ⚠️Please don't forget to follow capital management. ⚠️Please pay attention to the style of opening the position. -------------------------------------------------------------------------- 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
5
⭐️ XAU/USD : Gold’s Crucial Levels Navigating the $2352 to $2385By checking the gold chart in the 1-hour time frame, we can see that the price started falling from the range of $2332 last day and corrected to $2312! (+200 Pips) After that, it faced buying pressure again and grew to $2352! There are a series of very important supply levels in front of the price that I want to specify for you! First of all, the range of $2352 to $2361 and then the levels of $2366, $2375 and $2385! Monitor the price reaction to these very important levels, we can expect a negative reaction from the price almost upon reaching any level! Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! Best Regards , Arman Shaban
OANDA:XAUUSDShort
by ArmanShabanTrading
3
AUD/USD Resilient Amid Mixed Economic SignalsThe AUD/USD pair continues its upward trajectory, marking its second consecutive day of gains after finding support at the 0.6400 level on Wednesday. Despite facing a mixed bag of economic data, the Aussie dollar remains steadfast, exhibiting resilience in the face of uncertainty. On the economic front, the Australian dollar experienced contrasting news. While there was a negative economic release regarding Employment Change, the Unemployment Rate showed positive feedback. Surprisingly, the market response was muted, with no significant movement in either direction. Currently, the price appears to be pausing at the 0.6450 level, reflecting a temporary equilibrium. From a technical standpoint, the daily timeframe reveals a divergence pattern, suggesting a potential shift in momentum. Our forecast indicates a possible uptick in value, with the price expected to gravitate towards the Point of Control (POC) level between the 50% and 78.6% Fibonacci range. This projection aligns with the presence of the last strong selling order block, reinforcing the bullish sentiment. Furthermore, insights from a Westpac report shed light on the Reserve Bank of Australia's (RBA) stance on monetary policy. While the central bank has signaled reluctance to raise interest rates further, it emphasizes the need for greater confidence in the inflation outlook before considering the possibility of rate cuts. This cautious approach underscores the delicate balance policymakers must strike between supporting economic recovery and managing inflationary pressures. As investors await the release of key data from the United States, including weekly Initial Jobless Claims and Existing Home Sales, anticipation mounts regarding their potential impact on the direction of the US Dollar and its correlation with the AUD. These indicators will offer valuable insights into the state of the US economy and could sway market sentiment, influencing currency movements in the near term.
by FOREXN1
1
EUR/USD: Potential Reversal Signals Amidst Economic Data In the dynamic world of forex trading, every fluctuation in currency pairs tells a story. The EUR/USD pair, a perennial favorite among traders, often serves as a barometer for global economic sentiment. In recent sessions, its movements have captured attention, offering insights into market expectations and reactions to key events. Yesterday, during the American session, the EUR/USD pair witnessed an uptick, largely attributed to disappointing housing data from the United States, which exerted downward pressure on the US Dollar. This movement drew attention to specific technical indicators that signal potential shifts in market sentiment. One notable observation was the formation of a Gartley pattern, a harmonic trading pattern that signifies potential trend reversals. Additionally, Fibonacci retracement levels indicated significant support and resistance zones, further corroborating the potential for a reversal. Moreover, divergence on the stochastic indicator on the daily timeframe added another layer of confirmation to this narrative. However, amidst these technical signals, the market received a dose of hawkish commentary from Federal Reserve Chairman Jerome Powell. His remarks bolstered US Treasury bond yields, thereby providing support to the US Dollar. This development added complexity to the analysis, highlighting the interplay between technical indicators and fundamental factors. As the London session commenced, all eyes turned to the EUR/USD pair, which appeared poised to continue its potential reversal and gain momentum. The absence of high-tier data releases from the US economic docket on Wednesday provided traders with an opportunity to focus on other catalysts influencing market dynamics. In particular, scheduled speeches from European Central Bank (ECB) policymakers, including President Christine Lagarde, and Federal Reserve officials promised to offer insights into monetary policy outlooks and potential market-moving statements. Traders anticipated these remarks with keen interest, recognizing their potential to influence the trajectory of the EUR/USD pair. Against this backdrop, traders were cautiously optimistic, looking for signs of a bullish impulse and a confirmed reversal. The convergence of technical signals and fundamental developments underscored the complexity of navigating the forex market. Successful trading strategies required a nuanced understanding of both technical analysis and macroeconomic factors.
Long
by FOREXN1
2
EUR/USD Update: Assessing Bullish Momentum and Risk FactorsAs the new trading week kicks off, the EUR/USD pair finds itself in a sideways movement, hovering around the 1.0660 mark. Last week, market participants witnessed a potential bullish momentum, sparked by several technical signals indicating a shift in sentiment. One notable signal was the recognition of a bullish impulse originating from the 78.6% Fibonacci retracement levels, coupled with oversold conditions observed in stochastic indicators. This convergence of technical indicators often suggests a potential reversal or continuation of a trend. Adding to the bullish case, a Gartley formation and divergence patterns were also identified, further bolstering the optimism among traders. However, amidst these technical signals, the absence of significant economic data releases leaves the pair vulnerable to fluctuations in risk sentiment. The valuation of the US Dollar (USD) could be influenced by market perception of risk, particularly as traders await key economic indicators scheduled for release later in the week. Tomorrow's agenda includes crucial economic data from the United States, notably the Flash Manufacturing PMI, Flash Services PMI, New Home Sales, and the Richmond Manufacturing Index. These releases have the potential to sway market sentiment and dictate the direction of the USD. Furthermore, the performance of US stock index futures provides insights into market sentiment. Futures indicate a positive opening for Wall Street, with gains ranging between 0.3% and 0.5%. A continuation of this positive momentum on Wall Street could exert downward pressure on the USD, consequently supporting further upside potential for the EUR/USD pair. Beyond economic data releases, market participants will also keep an eye on developments in Europe. The European Commission is set to release preliminary Consumer Confidence data for April, offering insights into the sentiment among European consumers. Additionally, European Central Bank (ECB) President Christine Lagarde is scheduled to deliver a speech during American trading hours, potentially providing clues about the ECB's monetary policy stance and its impact on the Euro. In conclusion, the EUR/USD pair navigates a consolidation phase near 1.0660, buoyed by technical signals indicating a possible bullish reversal. However, the pair remains sensitive to shifts in risk sentiment and awaits crucial economic data releases to determine its next directional move. With eyes on both sides of the Atlantic, traders brace themselves for a week filled with potential market-moving events.
Long
by FOREXN1
3
GBP/USD: Recovery Momentum Amidst Technical and Fund. FactorsThe GBP/USD pair has shown signs of gaining traction during the early European session on Wednesday, surpassing the 1.2460 mark after experiencing a rebound around the 50% Fibonacci level. Despite previous forecasts suggesting a potential deeper reversal around the 61.8% and 78.6% Fibonacci levels, recent price action, in line with EUR/USD movements, indicates a potential bullish impulse. However, it's essential to note that our analysis serves as an idea rather than a call for immediate entry into trades. Looking at the near-term technical outlook, there's a discernible buildup of recovery momentum. Nonetheless, the pair could encounter significant resistance around the 1.2625 level, where the Local Point of Control (POC) of volume from the previous range consolidation area resides. Our perspective revolves around the possibility of a retracement near the POC line followed by a subsequent push downward. Turning to economic news, the UK's Office for National Statistics (ONS) recently released data indicating that inflation, as measured by the Consumer Price Index (CPI), dipped to 3.2% in March from the previous month's 3.4%, surpassing market expectations of 3.1%. Moreover, the core CPI, which excludes volatile food and energy prices, rose by 4.2% during the same period, slightly above analysts' estimates of 4.1%. These readings prompted a strengthening of the Pound Sterling against its counterparts. Meanwhile, the US Dollar continues to grapple with tepid demand, contributing to the upward momentum of GBP/USD as market sentiment improves midweek. This dynamic underscores the interplay between technical and fundamental factors shaping currency movements. In conclusion, the GBP/USD pair exhibits signs of recovery momentum amidst a backdrop of technical indicators and fundamental data. While recent price action suggests a potential bullish impulse, resistance levels loom overhead, warranting caution for traders. The release of economic data, particularly inflation figures, has influenced market sentiment, driving movements in the Pound Sterling. Against the backdrop of a subdued US Dollar, GBP/USD dynamics remain dynamic, requiring traders to remain vigilant and adaptable to evolving market conditions.
by FOREXN1
2
World gold prices are high and seem quite stable 2300World gold spot rate is round 2,318.eight USD/ounce, down 1.2 USD/ounce in comparison to overnight. Gold futures rate in June 2024 at the Comex New York ground is at 2,330.2 USD/ounce. At 8:00 p.m. on April 24 (Vietnam time), today's spot gold price on the world market is at 2,320 USD/ounce. Gold for delivery in June 2024 on the Comex New York floor is at 2,334 USD/ounce. The world gold price on the night of April 24 is about 12.5% ​​higher (257 USD/ounce) compared to the end of 2023. World gold price converted by USD bank price is at seventy-two million VND/tael, including Taxes and fees are about 12.5 million VND/tael lower than the domestic gold price at the end of the afternoon session on April 24. The world gold price hangs high and appears to be quite stable above the threshold of 2.3 hundred USD. World gold prices are kept at a high level because investors are still concerned about the situation in the Middle East as well as in Ukraine. Previously, pressure from the people to create investment pressure hit the possibility that the Israeli government would have to be careful in deciding how to reduce tensions in the Middle East. Both sides also lowered their voices a bit. However, on April 24, Iranian President Ebrahim Raisi warned that if Israel attacked Iran again, it would wipe out Israel. Specifically, the President of Iran said when "it is unknown whether this country will stay or not".
OANDA:XAUUSDLong
by MrTrongVo
⭐️ XAU/USD - Gold will fall ? (READ THE CAPTION)By checking the gold chart in the 1-hour time frame, we can see that yesterday the price corrected to about $2312 and then it came back with the demand and was able to grow up to the next supply range, i.e. $2332 to $2343, and then again It was accompanied by a heavy drop to $2305! As you can see, the price has entered the desired supply range for the fourth time and we have to see if it will be rejected from this level or not! The range of the next supply is $2351 to $2363 respectively! The demand levels are $2320, $2303 and $2284 respectively! Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! Best Regards , Arman Shaban
OANDA:XAUUSDShort
by ArmanShabanTrading
13