Market Overview Part 13Me Going Over My Full Strategy In Deep Detail On The Live Markets And Even Placing Trades In This Video
Forextrading
XAUUSD : Does gold have the ability to recover strongly?XAU/USD is increasing slightly and hovering around 2,337 USD/ounce. According to American Bank Wells Fargo, this precious metal may continue to consolidate throughout the summer as the market accepts the Fed's tightening policy.
In an interview with Kitco News, John LaForge, Director of Real Asset Strategy at the bank, said: "Central banks will continue to buy wine, while also seeing solid upside potential in gold." quarterly through 2025. According to Wells Fargo's mid-year updated price forecast, gold prices are expected to trade between 2,300-2,400 USD/ounce."
EUR/AUD Long and AUD/CHF ShortEUR/AUD Long
Minimum entry requirements:
• 1H impulse up above area of interest.
• If 3 touch 5 min continuation or 2 touch 5 min continuation with 3 touch structural approach, reduced risk entry on the break of it.
• If 3 touch 15 min continuation or 2 touch 15 min continuation with 3 touch structural approach, risk entry within it or reduced risk entry on the break of it.
AUD/CHF Short
Minimum entry requirements:
• Tap into area of value.
• 1H impulse down below area of interest.
• If 3 touch 15 min continuation or 2 touch 15 min continuation with 3 touch structural approach, 5 min risk entry within it, or reduced risk entry on the break of it.
EUR/USD Faces Pressure, Eyes Potential Bullish RetracementFollowing Wednesday's surge, EUR/USD reversed course and experienced significant losses on Thursday. The pair remains under pressure on Friday, trading at its lowest level since early May, just below 1.0700. This downturn reflects the broader market sentiment and the evolving economic landscape.
The shift in risk sentiment helped the US Dollar (USD) gain strength during the American trading hours on Thursday. Additionally, the negative impact of soft inflation data on the USD began to dissipate as investors reassessed the Federal Reserve's policy outlook in light of the hawkish revisions to the Summary of Economic Projections. The Fed's commitment to its current monetary policy stance has provided a boost to the USD, further pressuring the EUR/USD pair.
From a technical perspective, the price has reached a strong support area. Here, we observe a double divergence on both the RSI and Stochastic indicators, signaling potential bullish momentum. Furthermore, the price has touched the 78.6% retracement level from the previous swing low, adding to the likelihood of a reversal. These technical indicators suggest that the EUR/USD may be poised for a bullish retracement.
Despite the current downward pressure, the EUR/USD pair is showing signs of resilience. The technical indicators provide a hopeful outlook for traders looking for a recovery. The double divergence on the RSI and Stochastic indicators, coupled with the critical 78.6% Fibonacci retracement level, points towards a potential rebound. Traders will be closely monitoring these indicators for confirmation of a bullish trend reversal in the coming sessions.
AUDUSD 4H ForecastWe're in a bullish sequence as a double correction( W-X-Y ) pattern currently forming a wave Y as a potential Zig-Zag pattern.
A Zig-Zag is always a 5-3-5 sub-division so we can expect a minor pullback before a last push up to potential reach the 78,6 Fibonacci retracement level.
Central bank purchases of gold affect goldWorld gold charges reversed to growth barely whilst the trendy record confirmed that US retail income had been weaker than expected.
Specifically, in line with the Statistics Department of americaA Department of Commerce, the country`s retail income extended via way of means of 0.1% in May. Previously, economists had forecast an growth of 0.3%.
Disappointing monetary statistics has bolstered hopes that americaA Federal Reserve (FED) will lessen hobby prices this year, placing strain at the greenback and US Treasury yields.
According to the CME FedWatch tool, buyers are presently pricing in approximately a 67% risk that the Fed will reduce hobby prices in September. Lower hobby prices will gain gold as it reduces the possibility fee of retaining Precious metals do now no longer deliver this hobby.
GOLD Ready to go downExpected movement for now
I'm already entered and sell limit still not activated.
SL use at according to your margin
if anything will update
*My personal trading details. use at your own risk
XAUUSD : Gold will bounce back stronglyXAU/USD is moving sideways and trading around 2,322 USD/ounce.
According to senior market analyst Jim Wyckoff of Kitco Metals, gold prices fluctuate when influenced by external factors due to a lack of important new fundamental news. In this context, Wyckoff predicts, prices will likely move sideways
about 2,300 - 2,400 USD/ounce for the next important catalyst and he believes that these catalysts will not appear until July.
World gold prices weakened in the context of some US Federal Reserve (Fed) officials predicting interest rate cuts in December this year. This causes US government bond interest rates to increase to nearly 4.3%, causing disadvantages for gold - a non-yielding asset.
GBP/CHF Short, AUD/CHF Short and EUR/USD LongGBP/CHF Short
Minimum entry requirements:
• If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it.
AUD/CHF Short
Minimum entry requirements:
• If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it.
EUR/USD Long
Minimum entry requirements:
• 1H impulse up above AOI.
• 3 touch 15 min continuation or 2 touch 15 min continuation with 3 touch structural approach, 5 min risk entry within it, or reduced risk entry on the break of it.
GBP/USD Nears Monthly Low as Fed Maintain Interest Rate FirmnessThe Pound Sterling (GBP) continued its decline against the US Dollar (USD) for the third consecutive trading day on Monday. The GBP/USD pair is currently hovering near its monthly low, around 1.2660, as the Federal Reserve’s (Fed) hawkish stance on interest rates maintains the US Dollar's strength.
Fundamental Analysis
Federal Reserve's Interest Rate Outlook
The Fed's current position is to reduce interest rates only once this year. However, financial markets are speculating that the Fed might implement two rate cuts and begin unwinding its restrictive policy framework starting from the September meeting, with potential subsequent cuts in November or December. This speculation is driven by the soft US Consumer Price Index (CPI) and Producer Price Index (PPI) reports for May, which have increased expectations for early rate cuts.
Impact on GBP/USD
The Fed’s firm stance on maintaining higher interest rates supports the US Dollar's appeal, exerting downward pressure on the GBP/USD pair. Despite the market's expectations for rate cuts, the immediate outlook for the USD remains strong, making it difficult for the GBP to gain ground.
Technical Analysis
Divergence and Support Levels
Despite the bearish trend, technical analysis reveals that the GBP/USD pair is showing a divergence on the H4 timeframe. Divergence occurs when the price movement contradicts the signal from technical indicators, often suggesting a potential reversal or slowdown in the current trend.
The current price action is also situated in a demand area of support, which aligns with the 50% and 61.8% Fibonacci retracement levels. These Fibonacci levels are commonly used to identify potential support and resistance zones where price reversals might occur.
Trading Strategy
Given the technical setup, we have identified a range area where the price is currently trading. Although the pair has seen a significant drop, the divergence and support confluence suggest a potential for a reversal or at least a temporary stabilization.
To manage risk effectively, a stop loss is placed just below the 50% and 61.8% Fibonacci support levels. This ensures that if the price breaks through these key support areas, it signals a clear change in the main trend, and the trade can be exited with minimal losses.
The Fed repeatedly delayed interest rate cutsWorld gold expenses reduced withinside the context that the USD maintained its electricity and bond hobby charges persevered to growth.
Recently, americaA Federal Reserve`s (Fed) consecutive adjustments in financial coverage have placed robust stress at the gold market, pushing expenses an awful lot decrease than all-time report levels.
However, despite the fact that gold is present process a consolidation process, many professionals say that gold has many superb elements to growth its price. In particular, Saxo Bank commodity strategist Ole Hansen stated that the contemporary call for for treasured metals remains robust sufficient to maintain expenses from plummeting, or maybe growth.
Other professionals say that buyers nonetheless assume the primary hobby charge reduce in September, that's an vital riding pressure to guide gold expenses.
USDCAD: Thoughts and Analysis Today's focus: USDCAD
Pattern – Continuation
Support – 1.3715
Resistance – 1.3780
Hi, traders. Thanks for tuning in for today's update. Today, we are looking at USDCAD on its daily chart.
Looking back at price, we have evidence that a continuation is trying to form. After the first break higher, which broke out of the move lower, we saw consolidation, which has now also broken higher.
Will we see today's bar post a strong close, showing buyers are set to push through the rejection that we have seen in the last several sessions?
We want to see a firm close and a hold above support; otherwise, sellers could be setting up for a new test lower.
Good trading.
World gold prices decreased in the context of the USD still mainWorld gold prices decreased in the context that the USD maintained its strength and bond interest rates continued to increase.
Recently, the US Federal Reserve's (Fed) consecutive changes in monetary policy have put strong pressure on the gold market, pushing prices much lower than all-time record levels.
However, even though gold is undergoing a consolidation process, many experts say that gold has many positive factors to increase its price. In particular, Saxo Bank commodity strategist Ole Hansen said that the current demand for precious metals is still strong enough to keep prices from plummeting, or even increase.
Other experts say that investors still expect the first interest rate cut in September, which is an important driving force to support gold prices.
AUD/CAD Short, GBP/CHF Short, AUD/CHF Short and USD/SGD ShortAUD/CAD Short
Minimum entry requirements:
• If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it.
GBP/CHF Short
Minimum entry requirements:
• If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it.
AUD/CHF Short
Minimum entry requirements:
• If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it.
USD/SGD Short
Minimum entry requirements:
• 1H impulse down.
• 3 touch 15 min continuation or 2 touch 15 min continuation with 3 touch structural approach, 5 min risk entry within it, or reduced risk entry on the break of it.
XAUUSD : Gold will turn up again this weekXAU/USD is trading around 2,322 USD/ounce, down 11.6 USD/ounce compared to last week's result.
Adrian Day, of Adrian Day Asset Management, said gold prices are recovering after last week's sell-off amid dovish US economic news, weak inflation figures and higher unemployment claims, both support cuts
interest rate.
Colin Cieszynski, market strategist at SIA Wealth Management, said gold prices are poised for a technical bounce from support levels. Darin Newsom, senior market analyst at Barchart, said gold's next target is $2,370/ounce, followed by resistance at $2,391/ounce.
Gold is less volatile and tends to decrease slightly principal message is that inflation stays excessive and a tightening coverage stance wishes to be maintained for some time longer. This approach that the USD remains at a excessive level, lowering pleasure withinside the gold marketplace.
Markets will shift their cognizance to Europe this week because the Swiss National Bank and the Bank of England will each announce their economic coverage selections on Thursday morning.
The marketplace can even get the Empire State production index on Monday and retail income for May on Tuesday. Then Thursday brings housing begins offevolved and constructing lets in for May, in addition to weekly jobless claims and the Philly Fed production index. The week's records ended with present domestic income Friday morning.
GBP/CHF Short and WHEAT/USD ShortGBP/CHF Short
Minimum entry requirements:
• Tap into area of value.
• 1H impulse down below area of value.
• If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it.
WHEAT/USD Short
Minimum entry requirements:
• Tap into area of value.
• 1H impulse down below area of value.
• If 2 touch 5 min continuation, reduced risk entry on the break of it.
• If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it.
XAUUSD: Gold will grow strongly in the last 6 months of the yearWorld gold price moved sideways around 2,306 USD/ounce after falling sharply yesterday session. The gold market is under pressure as recent US economic data shows that the Fed will only have one interest rate cut this year. However, some economists note that the possibility of two interest rate cuts is still possible.
According to data from the US Department of Labor, in May, the US core CPI index increased by 3.3% over the same period last year and increased by 0.2% over the previous month, both figures are lower than the previous month. compared to forecasts and decreased slightly compared to April. This shows that inflation in the US cooled faster than expected, and at the same time put pressure on the US dollar. After the report, the USD plummeted with the Dollar Index falling from 105.08 points to 104.2 points. Silver and platinum prices also skyrocketed afterward.
GBP/CHF Short and WHEAT/USD ShortGBP/CHF Short
Minimum entry requirements:
• Tap into area of value.
• 1H impulse down below area of value.
• If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it.
WHEAT/USD Short
Minimum entry requirements:
• 1H impulse down below most recent low.
• If 2 touch 5 min continuation, reduced risk entry on the break of it.
• If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it.
Trade idea - GBPUSD Long1H
Corrective approach towards entry zone.
Market moving in descending channel towards entry zone. Bears getting tired.
-68 Fibonacci completion aligning with entry zone.
= Buy limit.
1% risk.
XAUUSD: Gold will likely recover strongly at the end of the weekXAU/USD decreased slightly, currently trading around 2,314 USD/ounce. Yesterday, XAU/USD turned down after the Federal Reserve (Fed) signaled that there would only be one interest rate cut this year in the context of inflation still far from the target level.
The Fed kept interest rates steady on Wednesday, while policymakers forecast just one rate cut in 2024.
Jeffrey Christian, Managing Partner at American Government Group, commented: “The Fed neither lowered nor raised interest rates, so investors turned to less risky assets, including gold, thus the price of gold. increased very high and profit taking took place."
Fed Chairman Jerome Powell said the inflation outlook issued by the Fed is a “rather conservative forecast,” that may not be confirmed by upcoming data and could be adjusted.
Mr. Powell added that the better-than-expected CPI inflation data was something officials welcomed.
