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EURUSD: Dead cat bounce to 1.10500 expected.EURUSD is highly bearish on its 1D technical outlook (RSI = 38.133, MACD = -0.002, ADX = 30.825) which given the fact that the price is approaching the LL trendline, it allows for some room to recover some losses. We expect this to be a dead cat bounce but a short term buy opportunity nonetheless. Target the 4H MA200 and the 0.5 Fibonacci level (TP = 1.10500). 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
XAUUSD (Gold) Price Analysis: Potential Downside Breakout📉 XAUUSD (Gold) Price Analysis: Rectangle Formation on D1 Timeframe, Potential Downside Breakout Gold (XAUUSD) is trading within a rectangle formation on the D1 timeframe , which typically signals consolidation before a significant price move. While the price remains range-bound, there’s a high probability of a downside breakout , with critical targets at $2,580 and $2,490 . Here's a detailed analysis of the setup: 🔲 What is a Rectangle Formation? A rectangle formation occurs when the price moves between two horizontal levels, creating a box-like pattern 📊. This shows a period of indecision in the market, where neither buyers nor sellers are in control. A breakout typically happens when the price moves decisively above or below the rectangle. 🔻 Downside Breakout Targets Gold breaking below the rectangle's lower boundary could signal a bearish trend continuation. Here are the critical downside targets to watch: 1. First Target – $2,580 : A downside breakout would likely drop the price to $2,580 , the first central support zone and a logical profit-taking area for short-sellers. 2. Second Target – $2,490 : Should bearish momentum persist, the next target would be $2,490 , a deeper support level where further selling pressure could ease. ⛔ Stop Loss – $2,702 A stop loss at $2,702 is recommended for those considering a short position. This level is just above the upper boundary of the rectangle and would invalidate the downside scenario if breached. 🚀 Upside Breakout Target If gold breaks out above the rectangle, bullish momentum could push prices toward $2,841 . This would signal a strong reversal, and traders should consider this level the next significant resistance zone. 🔍 Factors to Watch Several factors could influence the direction of the breakout: Inflation Data : Higher inflation tends to support gold prices as a hedge, increasing the likelihood of an upside breakout. US Dollar Strength : A stronger dollar could weigh on gold, favoring a downside breakout. Geopolitical Events : Uncertainty in global markets can boost safe-haven demand for gold, potentially triggering an upside move. 🛠 Trading Strategy For traders looking to capitalize on the potential breakout, consider the following: Downside Setup : If gold breaks below the rectangle, short positions with targets at $2,580 and $2,490 may offer solid risk/reward opportunities, with a stop loss at $2,702 . Upside Setup : In the case of an upside breakout, targeting $2,841 could provide a good opportunity but ensure that risk is managed carefully. 💡 Conclusion Gold’s rectangular formation in the D1 timeframe suggests a significant price move is on the horizon. While the likelihood of a downside breakout seems stronger, with targets at $2,580 and $2,490, traders should remain alert to the possibility of an upside breakout towards $2,841. Proper risk management, including a stop loss of $2,702, will be crucial in navigating this market opportunity. 🔔 Stay updated with real-time price action to make the most of this technical setup. Share your opinion in the comments.....
OANDA:XAUUSDShort
by amzadlak
GBPUSD Analysis: Slightly Bullish Bias on 08/10/2024.In today's analysis of the GBPUSD pair, we anticipate a slightly bullish bias driven by a combination of fundamental and technical factors. As we move through the trading session on 08/10/2024, traders are closely monitoring key economic releases and geopolitical developments that are expected to influence market sentiment. Let’s explore the primary drivers behind this expected bullish movement. Key Fundamental Drivers 1. Hawkish Sentiment from the Bank of England (BoE) The recent comments from the Bank of England (BoE) officials have been hawkish, signaling that further rate hikes could be on the horizon to combat inflation. With UK inflation remaining above target levels, the BoE's focus on tightening monetary policy to bring it down is a key factor supporting the British Pound (GBP). The market is pricing in the possibility of at least one more rate hike in the near future, which adds upward pressure on GBPUSD. 2. US Dollar Weakness Amid Softening Data The US Dollar (USD) has been showing signs of weakness as recent economic data from the US indicates a slowdown in key sectors, particularly the labor market and consumer spending. The Non-Farm Payrolls report released last week missed expectations, leading to speculation that the Federal Reserve may pause rate hikes sooner than anticipated. This dovish sentiment surrounding the Fed provides a tailwind for GBPUSD, as a weaker USD makes the pair more attractive for buyers. 3. Political Stability in the UK Political stability in the UK, especially in comparison to the uncertainties in the US, has helped maintain investor confidence in the British Pound. The UK government’s recent fiscal policy announcements have been well-received by markets, with investors expecting that these measures will support economic growth, adding strength to GBP in the short term. 4. UK Economic Data Today’s release of the UK’s GDP data will be crucial in setting the tone for GBPUSD. Positive GDP growth figures are expected to fuel further optimism around the British economy, reinforcing the bullish momentum for the Pound. Additionally, the services sector PMI data coming in stronger than forecasted last week suggests that the UK economy is performing better than many of its European counterparts. Technical Outlook From a technical perspective, GBPUSD is trading above its 50-day moving average, which is a bullish signal. The pair is also hovering near a key support level of 1.2150, and as long as this level holds, we could see further upside potential. RSI indicators also suggest that the pair is not yet overbought, leaving room for additional gains throughout the trading day. Key Levels to Watch: - Support Level: 1.2150 - Resistance Level: 1.2275 A break above the 1.2275 resistance level could signal further upward momentum, pushing GBPUSD towards 1.2300 in the near term. Conclusion: Slightly Bullish Bias for GBPUSD In conclusion, based on today’s fundamental factors and market conditions, we anticipate a slightly bullish bias for GBPUSD. With hawkish sentiment from the BoE, weakening USD, and positive economic data from the UK, traders can expect the pair to inch higher as the day progresses. Keeping an eye on key levels and economic releases will be crucial for capturing potential trading opportunities. Keywords: GBPUSD, GBPUSD analysis, GBPUSD trading, GBPUSD forecast, Bank of England, GBPUSD bullish, UK inflation, US Dollar weakness, forex trading, GBPUSD technical analysis, GBPUSD support levels, GBPUSD resistance levels, GBPUSD 08/10/2024, GBPUSD outlook, forex trading ideas, forex strategy, forex market analysis, forex trader
Long
by PERFECT_MFG
EUR/JPY Short, GBP/NZD Short and USD/CHF ShortEUR/JPY Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of interest. • If tight 5 min continuation follows, reduced risk entry on the break of it. • If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it. GBP/NZD Short Minimum entry requirements: • 4H risk entry. or • 1H impulse down below area of value. • If tight 5 min continuation follows, reduced risk entry on the break of it. • If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it. USD/CHF Short Minimum entry requirements: • 1H impulse down. • If tight 15 min continuation follows, 5 min risk entry within it, or reduced risk entry on the break of it.
Short
by StewySongs
1
XAU/USD Demand Break Analysis and Strategic Sell ZonesWe perform a thorough study of the XAU/USD pair in this trade idea, concentrating on significant demand break levels. We will search for a sell opportunity with a target of 2622 if the market breaks below the demand level at 2638 and closes below it. This strategy enables us to efficiently manage risk and profit from negative momentum. On the other hand, we see a low-risk selling opportunity in the 2660–65 zone if the market continues higher. This tactical method is appropriate for both novice and seasoned traders since it blends technical research with obvious entry and exit locations. Important Points: Level of Demand: 2638 Sell Point: 2621 Resistance Range for Possible Sale: 2660–65 Risk management: Prioritizing opportunities with minimal risk
ICMARKETS:XAUUSDShort
by HouseofProfit
Btc fall badly high volatility read the caption After finding a bottom at $60,700, BTC's performance has left traders somewhat in limbo as they eye $53,000 and $66,000 as two main options for the near future, and as we may see, the bulls are leading the charge as they have managed to take the tug to their side by over 3% so far. Is another attempt at a new all-time high in play? Based on the recent price action, yes is the more likely answer. However, it is still a long way to go as bulls would first have to defend the weekly close above $60,700, get to $66,001 per BTC and then perhaps hold there for another week
BITSTAMP:BTCUSDShort
by Mrsam36
Gold prices fell sharply below 2,640Gold prices were volatile last week. After the US employment data was released at 7:30 p.m. on Friday, gold prices fell sharply below $2,640/oz, but then at 10:00 p.m. the same day, gold prices rebounded, reaching $2,670/oz but immediately fell back to $2,642/oz at 11:30 p.m. Currently, gold prices are little changed around $2,650/oz. The decline in the precious metal was limited by increased safe-haven demand due to concerns about escalating tensions in the Middle East. There are several important data releases this week. The biggest risk for gold is the US consumer price index for September. According to Economists, the market will be eager to see whether inflationary pressures continue to ease, which will support the US Central Bank's easing cycle. Markets will also get the minutes of the Fed's most recent monetary policy meeting.
TVC:GOLD
by NicoTradingMaster
XAUUSDHello Traders! What are your thoughts on GOLD ? Gold is currently oscillating between two key support and resistance zones Resistance Zone: A significant resistance level is identified around the $2,680 mark. The price has tested this level multiple times and bounced back. If this level is broken and the price stabilizes above it, we could see a further upward movement. You can consider entering a buy position after confirming the breakout. Support Zone: The key support level is around $2,630. If this support zone is broken and the price stabilizes below it, a drop toward the $2,576 level is likely. In this case, you might look for sell opportunities. As long as the price is fluctuating between these two zones, it's better to avoid entering trades and wait for a breakout. A break above the resistance signals a buy, while a break below the support signals a sell. If you found this analysis helpful, don’t forget to like and share your thoughts in the comments! ❤️
FOREXCOM:XAUUSD
by HAMED_AZ
3
USD/CHF Recovers Inside Demand Zone, Fed Rate Cuts LoomIn the early European session on Monday, USD/CHF was trading at 0.8429, with the price sitting inside a key demand area. The pair is showing signs of recovery after a two-day losing streak, but its upside potential could be capped due to increasing market expectations for further aggressive rate cuts by the US Federal Reserve (Fed). Investors will closely watch comments from Fed Chair Jerome Powell and Governor Michelle Bowman later today for additional insights into the Fed’s next moves. From a technical perspective, the USD/CHF pair remains in a demand zone, which could provide support for a possible bullish move. The Commitment of Traders (COT) report reveals that retail traders are still largely bearish on the pair, while institutional investors—often referred to as "smart money"—have switched to long positions over the past week. This shift suggests a potential bullish impulse may unfold in the short term. On the fundamental side, the slowing Personal Consumption Expenditures (PCE) Price Index inflation data for August has fueled expectations that the Fed will maintain a rapid pace of rate cuts as inflationary pressures ease closer to its 2% target. This dovish stance could weaken the US Dollar (USD) in the near future, making USD/CHF's upside limited. The CME FedWatch Tool indicates a nearly 54% probability of a half-point rate cut in November, with a 46% chance of a smaller quarter-point reduction. Given these factors, traders should remain cautious but open to the possibility of a short-term bullish move for USD/CHF. The combination of technical demand zone support and shifting smart money positions suggests the potential for a recovery, though macroeconomic events and rate cut expectations may temper this momentum. ✅ Please share your thoughts about USD/CHF in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
12
GBPUSD Potential up trend continuation after the correction and The GBPUSD is currently in a consolidation zone after reaching a resistance area. While the market remains in a bullish trend on the daily timeframe, indicating ongoing demand pushing prices higher, the recent break of the upward trendline suggests a temporary pause in bullish momentum. This break hints at a possible slowdown as the market consolidates, preparing for its next move. Given the current range, it's likely the market will remain within this zone for a while before resuming the bullish trend. The target is the resistance zone at 1.33960
Long
by RTED_Investing
EURUSD Channel breakout and further potential drop after a correEURUSD has sharply declined following news of escalating tensions in the Middle East, which triggered a surge in the DXY, pushing down other currency pairs. The market formed a double top at the resistance level and failed to close above it. Currently, it is heading toward the bottom of the range. Zooming out, you'll notice the price action has been oscillating between 1.10200 and 1.12000. A pullback may occur before the market continues its downward movement. The target is the support level at 1.10300
Short
by RTED_Investing
Gold stands firm amid Middle East conflict outbreakThe world gold price increased quite strongly after Iran's airstrike on Israel, but also cooled down, then increased rapidly again. The gold price on the international market is holding high, showing its "durability" amid escalating tensions in the Middle East, after Iran massively fired hundreds of missiles at Israel. Israel's Iron Dome air defense system is said to have failed to stop many missiles. In the context of the chaotic world political situation, especially in the Middle East, calling Bitcoin (digital gold) a safe haven has caused disagreement among many precious metal supporters.
TVC:GOLD
by NicoTradingMaster
XAUUSD H1 - Short SignalXAUUSD H1 We broke our area of resistance here on XAUUSD over the eastern session. We have now made a slight adjustment to our trading zone, $2,660/oz has now been moved to circa $2,670/oz. Which now incorporates the next level of resistance, and stops now cover the next areas of previous high price. We have that whole number confluence, area of H1 and H4 supply, obviously areas of resistance... Lets see what this zone offers, but again, treading carefully around the data cluster we have later today.
OANDA:XAUUSDShort
by Trade_Simple_FX
GBPJPY: Bull Flag to start a great rally.GBPJPY is neutral on its 1D technical outlook (RSI = 54.480, MACD = 0.880, ADX = 34.811) as it's been basically consolidating since last Friday with the price ranging around the 1D MA50 and 1D MA200. This consolidation is being done while the 1D RSI shows a Bullish Divergence in a Channel Up. Last time this happened was in March 2023, a Bullish Flag that pushed the price later aggressively to the top of the 2 year Channel Up. We turn heavily bullish on GBPJPY (TP = 220.000). 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