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London Session Forex Market Analysis: USD Strength Leads the wayHi Traders, Here’s a quick market analysis for the London session. We’ve observed some notable movements in the currency pairs under review. As a quick recap from our weekly trade planning session (Portfolio Selection): Strong currencies: USD remains the leader, followed by JPY, CAD, CHF, and AUD. Weak currencies: EUR, NZD, and GBP. The USD's bullish momentum is clearly dominating across the board, providing opportunities to target selling the weaker currencies against the USD. Remember to approach the markets with a clear plan and stick to your trading plan. Happy Trading!
by Charts247TradingAcademy
AUD/USD 1H AnalysisThe price is approaching a key resistance zone (red), where we could see sellers step in and push the price lower. However, we need confirmation before considering a short trade. ✅ What I’m looking for: Clear rejection signals at the resistance (e.g., bearish candlesticks, high selling volume). Strong confirmation that sellers are back in control. 🚨 Plan: Patience is key. Wait for confirmation before entering a short position to avoid unnecessary risk. What’s your view on AUD/USD? Let me know!
Short
by WaveRiders2
XAUUSDHello Traders! 👋 What are your thoughts on GOLD? After a bullish move and the break of the ascending trendline, gold has entered a corrective phase. Currently, the price is below a key resistance level, which coincides with the 78.6% Fibonacci retracement level. This area acts as a strong resistance and could hinder further upward movement. It is expected that the price will react to this resistance level and enter a downward movement. If the mentioned resistance is decisively broken, the bearish scenario will lose its validity, and the likelihood of continued upward movement will increase. Don’t forget to like and share your thoughts in the comments! ❤️
FOREXCOM:XAUUSDShort
by HAMED_AZ
20
EURUSDHello Traders! 👋 What are your thoughts on EURUSD? The EUR/USD pair broke below a key support level last week, with the weekly candle closing firmly beneath this zone. This breakout signals potential further downside movement in the pair. A corrective bullish retracement or pullback to retest the broken support level is anticipated in the short term. However, the overall bearish sentiment remains intact, and the price is expected to resume its decline towards the next targeted support level. Don’t forget to like and share your thoughts in the comments! ❤️
Short
by HAMED_AZ
20
AUDUSD: Time to turn bullish again.AUDUSD is bearish on its 1D technical outlook (RSI = 41.008, MACD = -0.006, ADX = 21.063) as it has been declining since the September 30th High. Technically though it is time to turn bullish again as not only has the 1D MACD formed a Bullish Cross, but the double bottom on the 1D RSI is identical to the February 13th 2024 Low. The resulting rebound reached the 0.5 Fibonacci level before a rejection. Consequently, we are turning bullish here, aiming for the current 0.5 Fib (TP = 0.66900). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
GBPAUD Potential channel breakout to the downsideGBPAUD is exhibiting bearish momentum, characterized by lower lows and lower closes. The pair is currently testing the previous daily low; a close below this level could lead to a decline toward the channel's lower boundary. The previous day's candle featured a long tail, indicating potential for a retest of the round number at 1.9300. If bearish momentum persists, the price may break through the channel and move lower. The target is the support level at 1.9310
Short
by RTED_Investing
AUDCAD Potential Drop after Rejection from ResistanceAUDCAD is currently experiencing a pullback toward the resistance zone and the upward trendline area. On the 4-hour timeframe, the market has been forming lower lows and lower closes, indicating a bearish trend. After a significant decline, the price is now approaching the 50% retracement level of that move. This area may act as resistance, potentially leading to a continuation of the downward movement. The target is the support zone around 0.9070
Short
by RTED_Investing
USDCHF: Potential rejection on the 1W MA100.USDCHF is bullish on its 1D technical outlook (RSI = 64.705, MACD = 0.007, ADX = 41.714) but only just came out of neutrality on 1W (RSI = 58.054) despite the fact that it reached the 1W MA100 last week. Since February 2023, the 1W MA100 has been the first level of Resistance, so taking a short now is completely justified technically. The final Resistance thus short entry for us is the 1W MA200, which hasn't closed a candle over it in 2 years. Now that happens to be at the top of the Rectangle (body candles closings only). Either way, we are targeting the Rectangle's bottom (TP = 0.84100). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
EURUSD: Long term bottom formation. Target 1.09250.EURUSD is almost oversold on its 1D technical outlook (RSI = 32.566, MACD = -0.011, ADX = 28.963) as despite the consolidation since last Thursday, it hasn't yet started to recover. This is however a common price action during bottom formation proccesses (like September and March 2023) and since the 1D RSI is on a bullish divergence (HL), we expect a rally to start soon. In the past rebounds that stopped initially on the HH trendline but for slightly lower risk we are targeting the November 5th High (TP = 1.09250), which started the recent selling. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
AUDJPY Correction to the Down side after channel breakoutAUDJPY has recently broken and closed above a descending channel, indicating a potential shift in momentum. However, the overall market trend remains sideways, suggesting consolidation. The price is approaching a resistance level near 101.00, where previous sell-offs occurred, indicating that bears may be active in this zone. If the price rejects this resistance and the upward trendline, a decline toward the support zone around 100.75 is possible. Given the current sideways movement, the market may bounce off the top of the range and subsequently move toward the channel border. Monitoring price action around the 101.00 resistance level will be crucial to confirm a potential reversal
Short
by RTED_Investing
Midweek Portfolio Selection: Weekly & Daily CSI AnalysisJoin me for the Midweek Portfolio Selection, where we analyse the Weekly and Daily Currency Strength Index (CSI) to identify shifts in the currency landscape. This process helps refine our trading bias to stay aligned with market dynamics. In this episode, we’ve observed notable changes, particularly in the AUD and USD. Key Highlights: Buy Pairs: AUD, CAD, JPY, CHF, USD Sell Pairs: EUR, GBP, NZD Combining these buy and sell pairs increases the probability of capturing strong directional movements in the forex market. If you find this video helpful, please give it a thumbs up and share your thoughts in the comments. Wishing you a successful trading week! Happy Trading!
by Charts247TradingAcademy
The Evolution of Forex Trading Platforms and the MarketThe Evolution of Forex Trading Platforms and the Market Forex trading has come a long way since its early days. From manual cash exchange and institutional trading to simple, user-friendly online platforms available for everyone. This FXOpen article explores how technology has transformed forex trading and how AI-based algorithms are used to analyse market data today. Early Days of Forex Trading The history of forex trading in the world is long, dating back to ancient times when people traded goods and services across borders. However, the modern forex market as we know it today began in the 1970s after the collapse of the Bretton Woods system. Since then, currencies have been allowed to float freely against each other. In the early days, forex trading was performed manually, and the role of financial institutions was significant. However, manual methods had their challenges and limitations, such as the lack of real-time data and the need for human intervention. Rise of Electronic Trading Platforms The next step in forex market history was the development of electronic trading platforms. The foreign exchange market has experienced a profound transformation with the advent and proliferation of electronic platforms. These platforms have revolutionised the way currencies are traded, leading to increased accessibility, efficiency, and transparency in the world's largest financial market. The forex market has benefited immensely from advancements in technology. High-speed internet connections, powerful computers, and sophisticated software have enabled traders to execute orders swiftly and efficiently, regardless of their location. The emergence of electronic communication networks (ECNs) in the 1990s-2000s and the introduction of electronic trading platforms transformed the industry. ECN accounts connect leading brokers and individual traders with each other so that they can trade directly, bypassing the exchange mechanisms of intermediaries. ECN globalised the market, as it allowed transactions to be conducted outside the working hours of a particular location. The advantages of such electronic systems are the possibility of daily and round-the-clock trading, the expansion of the number of bidders offering their quotes, and the prompt supply of participants with all necessary information. If you are interested in ECN trading, you can open an FXOpen account. Mobile Apps A positive change in the history of forex trading was the shift from calling brokers to direct trading opportunities via electronic platforms. But this required access to a desktop computer. When mobile phones went mainstream, following the market became much easier. The development of mobile applications has made forex trading more convenient and accessible. It has made it possible for traders to access the markets from anywhere, at any time. Traders can now execute trades and monitor their positions on the go. Mobile apps offer convenience and accessibility, making modern forex trading more efficient and user-friendly. Social and Copy Trading Social trading networks have become increasingly popular in recent years. These networks allow traders to follow and replicate the strategies of other traders. Copy trading, in particular, has gained popularity. This method allows newcomers to take advantage of the expertise of more experienced traders. One advantage this provides is the opportunity to automate strategies and reduce the need for human intervention. However, both social and copy trading come with a set of risks, such as the potential for losses due to the replication of flawed strategies. Algorithmic and High-Frequency Trading (HFT) One promising innovation in the field of trading is the introduction of algorithms. This has the potential to change forex trading because now traders can automate their strategies using computer programs. Robots carry out trades according to predetermined rules and algorithms, and traders only need to observe the course of trading and intervene if necessary. As a subset of algorithmic trading, high-frequency trading (HFT) is also developing. HFT strategies help traders execute trades at lightning speed. Additionally, artificial intelligence and machine learning are playing an increasingly important role in algorithmic trading. AI-based tools collect, sort, analyse and classify market data and make asset selection recommendations. Cryptocurrency* and Forex Integration Recently, the market saw a sharp rise in the popularity of cryptocurrencies* as traded assets and their integration with forex. The evolution of the forex market is that platforms now allow traders to trade cryptocurrencies* alongside traditional forex pairs on the same platform. The impact of blockchain technology on forex markets is yet to be fully realised. But right now, it can be said that it may enable more secure and transparent transactions. The decentralised nature of blockchain enables innovations, such as decentralised exchanges and peer-to-peer trading. Final Thoughts While there are risks associated with forex trading, the integration of technology has made it more accessible to retail traders, and modern algorithms may make it simpler and more transparent. As the evolution of foreign exchange markets continues, traders try to stay informed and adapt to new technologies. You can explore our blog to learn more about highly effective trading strategies and top currency pairs and use the TickTrader platform to access advanced charts and trade various assets on a single account. Join the trading community with FXOpen! *At FXOpen UK, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules. They are not available for trading by Retail clients. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Education
by FXOpen
1
Market Analysis: CADJPY H1 Bearish Wave Structure AnalysisThis evening, my focus is on the CADJPY H1 timeframe. We have identified a completed bearish wave structure on the H1 timeframe. Earlier this afternoon, during the New York session, a trend reset was observed, breaking above the last Structure 4. From this point, based on wave structure anatomy, we anticipate selling interest to initiate a new bearish wave structure downward. The key level to watch is 110.48. Happy trading!
Short
by Charts247TradingAcademy
2
Gold wants to hit resistance read the caption Gold’s negative correlation with the USD seems to be in full swing over the past week, as gold’s price practically retreat until Friday, while as the current week started gold’s price seems to have regained its confidence to climb higher. On the flip side USD bulls dominated the greenback’s direction over the past week, while they took a break as the week begun allowing for gold’s price to rise. Overall we see the case for the negative correlation
OANDA:XAUUSDLong
by Mrsam36
Gold nonstop buy get out from sell read the caption However, the resurgence of the geopolitical factor, precisely from the Russia-Ukraine war, seems to be mostly behind the wake-up call in the metal, particularly after Biden’s administration “authorised” Ukraine to use US-made weapons to strike Russian territory. Moving forward, it should be a week dominated by data releases surrounding the real economy worldwide, where the publication of preliminary PMIs is expected to take centre stage. In addition, opinions from central bank officials are also seen keeping investors
OANDA:XAUUSDLong
by Mrsam36