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EURUSD DAILY ANALYSIS // Jan 17, 2024In today's forex market analysis for EUR/USD, the dollar reached a one-month high against a basket of currencies, with the dollar index (DXY) hitting 103.58, its highest since December 13. This surge was fueled by soft Chinese data and global rate setters cautioning against immediate cuts. The Federal Reserve's Christopher Waller's comments on not rushing towards rate cuts until lower inflation is sustained contributed to the dollar's strength. Market expectations of a rate cut in March have eased to a 60% chance, and U.S. yields rose accordingly. Additionally, China's economic growth of 5.2% in 2023, slightly above the official target, raised concerns about a shaky recovery, impacting Asian and European shares. The euro remained flat at $1.10870 after a drop on Waller's remarks, as European Central Bank policymakers also resisted imminent rate cuts. The pound, however, climbed against the dollar, driven by higher British inflation data, reinforcing expectations that the Bank of England will be slower to cut rates than other central banks. This data is crucial for understanding the current market dynamics and making informed trading decisions. D | 4H | 15M |
by neotradingclub
2
USDJPY SELL | Setup Trading AnalysisHello Traders, here is the full analysis. Short after the BULL RUN. GOOD LUCK! Great SELL opportunity USDJPY 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💰
Short
by TheGrove
3
EURUSD → A 4h timeframe perpectivehello guys... let's review what happened in eurusd pair! 1- the price made a descending channel and engulfed the last high! 2- the price broke the top line of the channel! 3- the price did a correction until the 50% of the last leg! 4- the price touched the QML level! Now what is going to happen?! there are two trendlines in further and one important area (the orange area) the price is going to touch the trendline then if the price breaks down the orange area the price will touch the lower levels as well- such as 1.07336 and 1.06163. but if the price makes a reverse pattern in the trendline we can expect another upward wave in this pair! encountering in the QML illustrates the next main move will be bearish, but let's see what the price gonna do with the orange area! ______________________ always do your research. If you have any questions, you can write them in the comments below, and I will answer them. And please don't forget to support this idea with your likes and comment
by melikatrader94
8
EURUSDHello traders ,what do you think about EURUSD? This week, the spotlight is on the upcoming release of the Eurozone's Consumer Price Index data for December, scheduled for Wednesday, January 17. Market analysts anticipate an annual inflation increase to 2.9%, surpassing the previous figure of 2.4%. This uptick could lead the European Central Bank (ECB) to delay shifting towards a more lenient monetary policy. Should these projections hold true, the Euro is likely to gain further strength.In light of these developments, the EUR/USD currency pair shows potential for an upward trajectory towards a defined level. Currently, the price lingers below a key resistance zone and is close to a crucial trend line. It is poised for an upward movement following a correction that touches this trend line's boundary. If this post was useful to you, do not forget to like and comment.❤️
Long
by HAMED_AZ
21
Sell ​​strategy, after retesting resistance will increase againGold prices rose at the start of the week, the metal's appeal fueled by safe-haven demand due to tensions in the Middle East, while markets bet the US Federal Reserve (Fed) will cut interest rates soon. than expected. The war between Israel and Hamas has passed the 100-day mark as Israel continues its fierce offensive, while the Houthi militia's threat to respond to US airstrikes in Yemen raises risks. Gold tends to perform well during times of economic uncertainty, with its reliability able to help offset the risks of more volatile assets in conditions such as geopolitical instability. “Spot gold is also rising as the market clings to hopes that the Fed will cut key interest rates as early as March,” said Han Tan, chief market analyst at Exinity Group. Gold's chances of reaching a new record high will remain open as long as the Fed can act in line with market expectations
OANDA:XAUUSDLong
by NicoTradingMaster
Gold will have a decline and then increase againWorld gold prices increased slightly with spot gold increasing by 6.6 USD to 2,055.3 USD/ounce. Gold futures last traded at 2,059 USD/ounce, up 7.4 USD compared to yesterday morning. The world's yellow metal posted modest gains in the first trading session of the week as it continued to be boosted by safe-haven demand due to concerns about tensions in the Middle East and renewed expectations for the Federal Reserve to The US (Fed) will cut interest rates sooner than expected. The report released late last week showed that US producer prices fell unexpectedly in December. The data has traders betting that the Fed will cut 166 basis points this year instead previously priced 150 basis points. Although gold prices are rising, some analysts say the precious metal needs a new catalyst or at least clearer clues about the Fed's monetary policy direction to break out of its current range. in. According to Trade Nation senior market analyst David Morrison, although gold continues to hold its position, more effort is needed to attract new investors to the market.
OANDA:XAUUSDLong
by FalCol_TradingMaster
CADJPY SELL | Day Trading AnalysisHello Traders, here is the full analysis. Watch strong action at the current levels for SELL . GOOD LUCK! Great SELL opportunity CADJPY 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💰
Short
by TheGrove
1
EURJPY SELL I Potential Downside from Resistance|AnalysisHello Traders, here is the full analysis. Watch strong action at the current levels for SELL . GOOD LUCK! Great SELL opportunity EURJPY 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💰
Short
by TheGrove
3
USDJPY can go UP from 🟢Support zone🟢➡️RR=2.45🏃‍♂️ USDJPY is moving near the 🟢 Support zone(143.40 JPY-142.82 JPY) 🟢. 🌊According to Elliott's wave theory , USDJPY has successfully completed wave A in the 🔴 Resistance zone(146.26 JPY-144.94 JPY) 🔴. 🌊The structure of corrective waves is Zigzag(ABC/5-3-5) . 🔔I expect wave B to end at the 🟢 Support zone(143.40 JPY-142.82 JPY) 🟢, and USDJPY will trend higher again and at least GO UP to the 🔴 Resistance zone(146.26 JPY-144.94 JPY) 🔴again. 👑 Position : USDJPY Position : Long Entry Point : 143.429 JPY (Limit Order) Stop Loss : 142.440 JPY Take Profits : 4145.852 JPY// 144.414 JPY(RR=1.00) Risk-To-Reward : 2.45 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
13
Stand still and wait for news, CPI news trading strategy todayWorld gold prices were relatively stable with spot gold down 5.3 USD to 2,023.5 USD/ounce. Gold futures last traded at 2,029.3 USD/ounce, down 3.7 USD compared to yesterday morning. World gold decreased slightly in the mid-week trading session as investors were waiting for US inflation data to gain more clarity on the US Federal Reserve's (Fed) interest rate roadmap this year. RJO Futures senior market strategist Bob Haberkorn said lower-than-expected inflation data would give the Fed more reason to cut interest rates this year, which would push gold prices higher. US consumer price index data will be released on Thursday. According to a Reuters poll, economists predicted annual inflation would come in at 3.2% in December, but said core inflation could fall to 3.8%, the lowest since December. mid-2021. A report from the New York Fed revealed that consumers expect inflation to decline, while Fed Governor Michelle Bowman said on Monday that the US Central Bank's monetary policy appeared to be "adequate". limit".
OANDA:XAUUSDLong
by FalCol_TradingMaster