Forexsignal
Could the Cable reverse from here?The price is reacting off the support level which is an overlap support that aligns with the61.8% Fibonacci retracement and could rise from this level to our take profit.
Entry: 1.2617
Why we like it:
There is an overlap support level that aligns with the 61.8% Fibonacci retracement.
Stop loss: 1.2523
Why we like it:
There is a pullback support level.
Take profit: 1.2731
Why we like it:
There is an overlap resistance level.
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World gold prices decrease when the USD increasesWorld gold prices fell more than 1% on Thursday as investors rushed to take profits after prices hit a 5-week high.
"Gold still has an upward trend. However, last night's decline may have occurred because investors sold to take profits ahead of next week's meeting of the US Federal Reserve (FED)" - Zain Vawda - analyst market analysis at MarketPulse commented.
This expert believes that the market is shifting its focus to next year's interest rate plan from the FED. This will determine the sustainability of the current uptrend. According to the CME FedWatch interest rate tracking tool, investors currently forecast a 98% probability of the FED cutting interest rates in December.
In its "2025 Outlook" report released on Thursday, the World Gold Council (WGC) said the gold market will face two distinct scenarios next year as uncertainty dominates investor sentiment. . However, their base case predicts gold prices will move relatively neutrally if current market conditions continue.
“The market consensus is that macroeconomic variables such as GDP, yields and inflation, if viewed in simple terms, suggest that gold will have positive but modest growth in 2025.
🔥 XAUUSD SELL 2698 - 2700🔥
💵 TP1: 2680
💵 TP2: 2670
💵 TP3: OPEN
🚫 SL: 2710
Xauusd shot XAU/USD fell towards $2,680 and remains under pressure as investors diggest US figures and the European Central Bank monetary policy announcement. Inflation in the US at wholesale levels rose by more than anticipated in November, according to the latest Producer Price Index release.
Gold now sell 2685
Support 2670
Support 2660
Resistance 2689
Resistance 2710
EUR/USD 15-Minute Analysis: Breakout Opportunityn the 15-minute time frame, EUR/USD is approaching a purple resistance zone. Here's my idea:
Entry Plan: If the price breaks out above the purple resistance with confirmation, it could provide a long entry opportunity.
First Target: The next resistance level in the pink zone.
Key Caution: Be mindful of the black line, where the Point of Control (POC) is located. This could act as a key level of reaction.
Monitor price action carefully as we approach these levels to confirm the breakout and validate the move.
Let me know your thoughts! 👍
XAUUSD Gold Spot Wave Analysis Elliott neoWaveThe gold chart is nearing the end of wave D and we should expect a price correction to complete wave E towards $2530 soon, but there may be a smaller upward wave remaining.
First entry: 2700
Possible second entry: 2740-2750
Stop loss: 2775
Take profit: 2530
This offer has a risk/reward ratio of around 3
Make sure to involve less than 2-3% of your total capital and stick to money management principles
This is just a suggestion for consideration
Xauusd sell signal Gold price sticks to its positive bias through the first half of the European session, though it remains below the $2,650-2,655 supply zone and remains confined in a familiar range held over the past two weeks or so. The USNFP report released on Friday reaffirmed bets that the Fed will lower borrowing costs in December.
Gold now sell 2657
Support 2645
Support 2635
Xauusd weekly chart Gold opened in a calm manner on Monday and spent the rest of the week fluctuating in a narrow channel at around $2,650. Trade Balance data from China and November inflation figures from the United States could help XAU/USD break out of its trading range next week.
Gold resistance 2666/2690
On the flip side, the Asian session low, around the $2,614-2,613 region, now seems to act as immediate strong support ahead of the $2,605-2,600 area. This is followed by the 100-day SMA, currently around the $2,583 zone, below which
Gold support 2604/2591
Bitcoin market analysis Key Indicators for a Possible Bitcoin Drop:
1. Descending Resistance (Trendlines):
• The red trendlines on both charts indicate a series of lower highs, suggesting sellers are becoming increasingly dominant.
• This descending resistance reflects bearish sentiment, as buyers fail to push prices above prior peaks.
2. Support Levels in Danger:
• The 1-hour chart highlights a critical green support zone between $90,000 and $89,000.
• Repeated testing of support levels without a significant bounce often signals weakening demand, increasing the likelihood of a breakdown.
3. Rejection at Key Levels:
• Both charts show price rejections near resistance levels. Repeated failures at these points indicate strong selling pressure and a lack of bullish momentum.
4. Divergences in Momentum Indicators:
• The bottom indicators in the charts, likely oscillators like RSI or MACD, appear to show bearish divergences. This suggests that while prices attempted rallies, underlying momentum weakened.
5. Short-Term Breakdown:
• The 5-minute chart depicts a sharp drop and subsequent consolidation below a key price level ($102,500). This consolidation might represent a bear flag, a continuation pattern signaling further downside.
6. Market Context (Macroeconomic Events):
• Upcoming economic data releases (referenced from Forex Factory) can introduce volatility. If the data is bearish for risk assets (e.g., hawkish Fed policies, poor global growth indicators), Bitcoin could face further downward pressure.
Outlook:
• A break below the green support levels (~$90,000) could trigger a cascading sell-off, with $85,000 or lower as the next potential target.
• However, sustained consolidation or a sudden bullish catalyst above $102,500 would invalidate this bearish thesis.
Gold Analysis December 6Fundamental Analysis
Gold prices continued to struggle for a firm near-term direction amid mixed fundamental signals and remained confined within a familiar range in the first half of the European session on Thursday. Persistent geopolitical risks stemming from the worsening Russia-Ukraine conflict, trade war fears, and political unrest in France and South Korea served as drivers of the safe-haven precious metal. Additionally, a weaker US dollar (USD) was seen as another factor providing some support to the commodity.
That said, expectations of a less dovish Federal Reserve (Fed) should trigger a modest rebound in US Treasury yields and limit the upside in non-yielding gold. In fact, comments from several FOMC members on Wednesday, including Fed Chairman Jerome Powell, suggested that the US central bank will adopt a cautious stance on rate cuts.
Technical Analysis
After this morning's unexpected technical decline, it seems that gold will want to fall into Nonfarm today. With prices pushing up near the 2637 area, it marks a recovery in the European session before gold is pushed back down in the US session. There are 2 breakout zones to watch at 2637 and 2643
Several indicators suggest that the NASDAQ 100 (NAS100) may faceSeveral indicators suggest that the NASDAQ 100 (NAS100) may face a downturn in the near future:
Technical Indicators:
• Rising Wedge Pattern: The NAS100 has formed a rising wedge pattern, typically considered a bearish signal indicating a potential price decline.
• Overbought Conditions: The Relative Strength Index (RSI) shows overbought levels, suggesting that the index may be due for a correction.
Economic Data:
• Manufacturing Sector Contraction: The ISM Manufacturing PMI rose to 48.4 in November but remains below the 50 threshold, indicating ongoing contraction in the manufacturing sector.
• Slowing GDP Growth: The U.S. economy grew at an annual rate of 2.8% in the third quarter, down from previous quarters, reflecting a slowdown that could impact corporate earnings.
Federal Reserve Policies:
• Interest Rate Outlook: Federal Reserve officials have signaled caution regarding future interest rate cuts, which may affect investor sentiment and equity valuations.
Market Sentiment:
• Tech Stock Volatility: Recent declines in major tech stocks, including Nvidia and Microsoft, have led to broader market pullbacks, indicating potential vulnerability in the NASDAQ 100.
• Strengthening U.S. Dollar: A stronger dollar can negatively impact multinational companies’ earnings, many of which are components of the NASDAQ 100.
Considering these factors, there is a potential for the NASDAQ 100 to experience a decline in the near term. However, market conditions can change rapidly, and it’s advisable to monitor real-time data and news updates for the most accurate information.
Several factors suggest a potential downturn for the Dow Jones ISeveral factors suggest a potential downturn for the Dow Jones Industrial Average (US30) in the near term:
Technical Indicators:
• Overbought Conditions: The Relative Strength Index (RSI) indicates that US30 is approaching overbought levels, which often precedes a price correction.
• Bearish Divergence: A rising wedge pattern coupled with bearish divergence signals a possible downward movement.
Economic Data:
• Manufacturing Slowdown: The ISM Manufacturing PMI rose to 48.4 in November but remains below the 50 threshold, indicating contraction in the manufacturing sector.
• GDP Growth Concerns: Recent data shows the U.S. economy grew at its slowest pace in two years, with a 1.6% increase in GDP for the first quarter of 2024, missing forecasts.
Federal Reserve Policies:
• Cautious Approach to Rate Cuts: Federal Reserve officials have signaled a cautious approach to future interest rate cuts amid strong economic performance and cooling inflation, which may impact investor sentiment.
Market Sentiment:
• Strengthening U.S. Dollar: A rising U.S. dollar could pose challenges for stock-market bulls, potentially hindering further equity-market gains.
• Technical Caution: Analysts warn of potential market corrections, with models indicating possible downturns during the holiday week.
Considering these factors, there is a potential for US30 to experience a decline in the near future. However, market conditions can change rapidly, and it’s advisable to monitor real-time data and news updates for the most accurate information.
Gold (XAU/USD) Market Analysis: Indicators Point to Potential DoGold (XAU/USD) Market Analysis: Indicators Point to Potential Downtrend
Several factors suggest that gold prices may experience a decline in the near term:
1. Technical Indicators:
• Moving Averages: Current analyses indicate a ‘Sell’ signal based on moving averages, reflecting bearish momentum.
• Oscillators: Indicators such as the Relative Strength Index (RSI) are neutral, while others like the Stochastic Oscillator point towards a ‘Sell’ signal, suggesting downward pressure.
2. Economic Data:
• U.S. Economic Growth: The U.S. economy grew at a 2.8% annual rate in the third quarter, driven by strong consumer spending and increased exports. This robust growth reduces the appeal of gold as a safe-haven asset.
• Manufacturing Orders: In October, U.S. factory orders rose by 0.2%, the first increase after two months of decline, indicating a potential stabilization in the manufacturing sector.
3. Federal Reserve Policies:
• Interest Rate Outlook: The Federal Reserve’s regional survey reflects slight economic growth, with stable employment levels and modest price increases. This may influence the Fed to maintain or adjust interest rates, impacting gold prices.
4. Market Sentiment:
• U.S. Dollar Strength: A stronger U.S. dollar makes gold more expensive for holders of other currencies, potentially leading to a decrease in gold demand and prices.
• Geopolitical Factors: Recent geopolitical developments, such as cease-fires in conflict regions, can reduce demand for gold as a safe-haven asset, exerting downward pressure on prices.
Considering these factors, there is a potential for gold prices to decline in the near term. However, market conditions can change rapidly, and unforeseen events may alter this outlook. It’s advisable to monitor real-time data and news updates for the most accurate information.
GBPCAD Faces Key Resistance on Daily ChartThe GBPCAD currency pair has been in a strong uptrend in recent months, primarily due to the British pound appreciating against the Canadian dollar. This trend has propelled the price to around 1.8070, the highest level since 2020, where it encountered significant resistance.
After hitting this peak, the price reversed and broke a long-term uptrend line, subsequently retesting this area, which is now acting as resistance. Currently, the price is showing signs of potential rejection at the 50% Fibonacci retracement level (1.7812), indicating selling pressure.
It's important to note that the recent bearish movement (from October 30 to November 22) was notably stronger than the preceding bullish movement (from October 3 to October 30), suggesting that sellers have gained momentum after reaching the resistance level on the daily chart.
Potential Sell Trigger
If the price drops below the 1.7740 mark, it could activate a sell signal, indicating a new bearish phase. The technical setup supports this possibility because:
A drop below 1.7740 would negate the previous bullish candle on the daily chart.
The 50% Fibonacci level has already shown resistance, signaling price rejection.
Sell Opportunity:
Entry: If the price manages to close below the 1.7740 in the daily chart. A good entry point could be considered between 1.7740 and 1.7715, a range of 25 pips, maximum.
Stop Loss: Above the high of the previous candle, at around 1.7860.
Primary Target: Support area around 1.7475.
Secondary Target: Extension to 1.7313, which aligns with a historical support zone.
Alternative Bullish Scenario
Conversely, if the price breaks above the 61.8% Fibonacci retracement at 1.7891, it could suggest that buyers are regaining control, potentially allowing the pair to reclaim recent highs at 1.8070 and move higher.
Bullish Signals:
If the daily manages to close above 1.7891.
Sustained movement above dynamic resistance.
A Stop Loss could be placed at 1.7750.
Primary target would be around 1.8070, the daily chart resistance.
Summary
The GBPCAD is at a pivotal point; a break below 1.7740 could lead to a sharp decline, while a breakout above 1.7891 could resume the upward trend. The next direction will hinge on the strength of market participants and confirmation of these critical levels.
Disclaimer
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USDJPY Bearish ContinuationWe are currently looking for bearish continuations to keep selling and following the higher timeframe trend.
Following the 4H timeframe down to the 1H, we have 2 potential areas of interest we can have a minimal risk high reward trade.
AS price continues to accumilate into our areas I will keep updating for possible trade entries.
gbpcad buying opportunity.OANDA:GBPCAD
buying opportunity for gbpcad. i always post after i get triggered on the retracement but usually price does not tap twice on the entry point thats why i have posted ahead of the time as i am gonna have entry on the retracment. the way i will enter is i am gonna be entering below the 50% of fibonacci retracement.