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GBP/USD Reversal Signals: Analyzing Potential Bearish MomentumAmidst early week volatility, GBP/USD initially tested 1.2650 before reversing course and closing positively on Monday. However, recent movement has brought the pair into a supply area, hinting at a possible reversal and continuation of its bearish trajectory. In the upcoming economic calendar, focus shifts to the release of Durable Goods Orders for February in the US. Forecasts predict a 1.3% rise following January's 6.2% contraction. Should the data disappoint, it may weaken the USD in the immediate aftermath. Conversely, a stronger-than-expected increase could bolster the currency. Nonetheless, the impact of this data is likely to be short-lived. Traders are closely monitoring these developments, with anticipation building for a potential bearish setup post the Durable Goods news.
Short
by FOREXN1
1
EUR/USD Rebounds Amidst US Exceptionalism: What Lies Ahead?The EUR/USD pair experienced a significant decline towards the end of last week, driven by the release of Eurozone and US flash PMI data. These figures underscored the perceived strength of the US economy, leading to speculation that the Federal Reserve (Fed) may reconsider its aggressive stance on interest rate cuts. The data painted a picture of US exceptionalism, suggesting that the American economy continues to perform relatively well compared to its European counterpart. This sentiment has raised doubts about the Fed's projected timeline for interest rate cuts, potentially prompting a more cautious approach from the central bank. A slower pace of rate cuts by the Fed could bolster the US Dollar, as higher interest rates typically attract greater foreign capital inflows. As a result, the EUR/USD pair may face continued pressure, with potential resistance levels seen around the 1.08600 to 1.08900 area before resuming its downtrend. Traders are advised to monitor these resistance levels closely and consider implementing limit selling positions in anticipation of a potential reversal. Additionally, today's release of US New Home Sales and the Chicago Fed National Activity Index may provide further insights into the health of the American economy, influencing market sentiment towards the EUR/USD pair.
by FOREXN1
1
Gold increased to the highest level of all timeThe international gold charge has simply set a brand new anciental top whilst it hit 2,260 USD efforts to increase the prevailing streak to 5 consecutive periods on Friday. However, marketplace liquidity is presently low because of the Good Friday vacation mentality of many traders. Gold will become greater appealing to traders as marketplace sentiment leans toward the situation of main relevant banks beginning an hobby charge slicing cycle this year. Investors are giving greater prefer to gold as they agree with that the Fed will reduce hobby fees 3 instances withinside the coming months. There may be 3 hobby charge cuts predicted. However, greater dependable proof that inflation will recede is wanted earlier than the Fed takes any action. The truth that accomplishing the ECB`s 2% inflation goal is possible additionally warns of ability dangers if the ECB does now no longer reduce hobby fees. In Europe, the SNB's marvel hobby charge reduce at its March assembly sparked hypothesis that different main relevant banks ought to take comparable actions. Meanwhile, in Asia, even though the BoJ has ended its bad hobby charge coverage, it'll retain to display and flexibly alter its economic coverage to healthy the financial scenario withinside the future. close to future.
TVC:GOLDShort
by TrategySherpa
GBP/JPY Holds Steady Amid Easter Break, Eyes Bearish ContinuatioAs the financial markets took a pause for the Easter holiday, the GBP/JPY pair maintained stability around the 191.00 level on Friday, showing minimal movement. Meanwhile, Federal Reserve Chair Jerome Powell made statements emphasizing the adaptability of monetary policy to various economic scenarios. Technically, the price experienced a reversal near 193.500, as anticipated in our previous analysis, leading to a decline of nearly 200 points. Currently, the pair is consolidating within a range, forming a triangle pattern that appeals to enthusiasts of technical analysis. Our analysis indicates a bearish continuation for the GBP/JPY pair, considering its correlation with the GBP/USD, which is currently in a bearish trend on the H4 and lower timeframes. For further details, you can refer to our previous analysis of GBP/JPY by following the provided link.
Short
by FOREXN1
1
NZDCAD:🟢Buy Opportunity🟢 As you can see, the price swept the liquidity below the previous day's low and shifted the market structure. Now we can expect that the price move lower to collect the inducement and then move higher. We can define buy-side liquidity as the first target and the previous day's high as our final target. Please pay attention: We need LTF confirmation in this scenario. 💡Wait for the update! 🗓️27/03/2024 🔎 DYOR 💌It is my honor to share your comments with me💌
Long
by VahidTradingCR
5
AUDCAD→ Day Analysis | BUY SetupHello Traders, here is the full analysis. Price reversal going up, levels for BUY . AUDCAD long ! Great BUY opportunity AUDCAD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
3
Gold continues to move unexpectedly, entry sell todayWorld gold prices inched up slightly with spot gold increasing by 5.7 USD to 2,176.5 USD/ounce. Gold futures last traded at 2,177.6 USD/ounce, up 4.6 USD compared to yesterday morning. The world gold market fluctuated slightly as investors were still waiting for US inflation data later this week to know more about when the US Federal Reserve (Fed) will begin to loosen monetary policy. bad this year. RJO Futures senior market strategist Bob Haberkorn predicts gold will rise in the near term on interest rate expectations, unless the Fed changes its stance or makes some announcement that it will eliminate interest rate cuts. capacity. Gold could fall again if personal consumption spending data is stronger than expected, Haberkorn said. However, this precious metal will quickly regain its upward momentum. Last week, gold hit a record high of $2,222.39 an ounce after Fed policymakers said they still expected to cut interest rates by three-quarters of a percentage point in 2024 despite persistent inflation. still far from the target level of 2%. Currently, traders are currently forecasting a 71% chance that the first rate cut will take place in June.
OANDA:XAUUSDShort
by FalCol_TradingMaster