Get started

Forextrading

Audusd confirm dip move as you see trendline read the caption The most recent leg down, which started on April 10, was driven by a sudden strengthening in the US Dollar (USD).  A run of strong macroeconomic data from the US, a solid labor market and persistently high inflation means the US Federal Reserve (Fed) cannot go ahead and cut interest rates as soon as it had been planning.  The expectation of interest rates remaining higher for longer in the US in order to continue cooling down the economic
Short
by Mrsam36
NZDJPY: Channel Up bottom buy.NZDJPY is neutral on its 1D technical outlook (RSI = 54.679, MACD = 0.060, ADX = 31.385) as it trades between the 1D MA50 and the 1D MA100. Despite the neutrality, the price sits at the bottom of the Channel Up pattern, having made its 2nd contact this month. The 1D MACD has been squeezed and is past a Bullish Cross, which has been a buy signal inside this pattern 2 out of 2 times it was formed. Consequently we turn bullish on the medium term aiming at +6.00% profit (TP = 95.500). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
2
AUDJPY: Thoughts and Analysis Today's focus: AUDJPY Pattern – Continuation Support – 98.90 & 98.35 Resistance – 100.20 & 100.60 Hi, traders; thanks for tuning in for today's update. Today, we are looking at the AUDJPY on the daily. We could have a new continuation forming as buyers have beaten yesterday's high backing in a second positive session. Australian employment data came in mixed with a decrease in unemployment. This, with a weaker Yen, looks to be supporting buyers at this stage today. If we see a move below today's low or back below 98.90, this could be a warning, as it will cancel out continuation ideas in the short term. What do you think? Do you think this is a continuation pattern? Good trading.
Long
by Eightcap
CADJPY: Follow the breakout or rejection. Low risk trades.CADJPY is just above the bullish barrier on its 1D technical outlook (RSI = 58.297, MACD = 0.230, ADX = 26.548) despite the fact that it is near the HH trendline of the Ascending Triangle and supported at the same time by the 1D MA50. Technically this calls for a decline and the minimum inside this pattern is the 1D MA200 (TP = 109.350). If it crosses over the HH trendline and closes a 1D candle over it, we will go long, aiming at the top of the Channel Up that will prevail (TP = 115.500). 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. ##
by InvestingScope
EUR/NZD: Preparing for Bullish Continuation Amid Fundamental DriThe EUR/NZD pair remains ensconced within a bullish trajectory, exhibiting resilience even amidst the ebb and flow of market dynamics. As traders observe the pair's current consolidation phase, characterized by a potential pullback to the 38.2% Fibonacci level, anticipation builds around pivotal events that could catalyze its next bullish impulse. The EUR/NZD pair's bullish trend persists, with recent price action indicating a temporary pause in momentum as the pair consolidates near key levels. A potential pullback to the 38.2% Fibonacci retracement from the last swing low presents an opportunity for the pair to gather momentum for its next leg upwards. This technical setup suggests a continuation of the prevailing bullish trend, pending confirmation from fundamental drivers. Fundamental Outlook: Two critical events loom large on the horizon, each poised to exert significant influence on the EUR/NZD pair's trajectory. Firstly, the Reserve Bank of New Zealand (RBNZ) monetary policy meeting on Wednesday is anticipated to maintain cash rates at 5.5%, underscoring the necessity for continued restraint to combat inflation. The RBNZ's steadfast commitment to restrictive policies, coupled with concerns surrounding record immigration, could shape market sentiments and impact the NZD's performance. Secondly, all eyes will be on the release of the United States Consumer Price Index (CPI) data for March, scheduled for the same day. Traders should brace themselves for potential market volatility following the CPI data release, as it could offer insights into inflationary pressures and prompt shifts in investor sentiment. The EUR/NZD pair's negative correlation with the EUR/USD suggests that any significant movement in the latter could reverberate across the forex market, influencing the pair's direction. Trading Strategy: In anticipation of a potential continuation of the bullish trend, traders may position themselves accordingly, with a focus on long opportunities. Monitoring price action around the 38.2% Fibonacci level and key support zones can offer valuable entry points for bullish positions. However, it's imperative to remain vigilant and adapt to evolving market conditions, particularly in response to the RBNZ meeting and US CPI data release. Furthermore, implementing robust risk management strategies, such as setting stop-loss orders and adhering to position sizing principles, can help mitigate downside risks and protect capital in the event of adverse price movements. In conclusion, the EUR/NZD pair's bullish outlook remains intact, underpinned by both technical and fundamental factors. By staying attuned to key events and adopting a disciplined trading approach, traders can position themselves to capitalize on potential bullish continuation opportunities while navigating the inherent uncertainties of the forex market. As always, prudence and adaptability are essential virtues for success in trading.
Long
by FOREXN1
1
XAUUSD : Gold will increase due to middle east politicsGold's upward momentum is still maintained but the price has not yet been able to return to the $2,400 threshold Gold prices are currently maintaining their upward momentum and are trading around $2,380 despite the strength of the greenback. Gold prices increased slightly at the end of the US session yesterday after a hawkish speech by Fed Chairman Jerome Powell. Along with that, the fact that US retail sales are also remaining at a high level has caused the USD to continue to increase in price and somewhat limited the rise of precious metals. XAU/USD is currently trading around $2,380, with closest support located at the April 12 bottom around $2,343, below the psychological threshold of $2,300.
OANDA:XAUUSD
by SantaTradeGold
XAUUSD : Gold is likely to fluctuate strongly to 2500 ?"Precious metals" regained what they lost during the US session on Monday During the Asian session on April 16, gold prices recovered and are currently trading around $2,386.80. On April 15, world gold prices adjusted slightly downward after US retail sales were higher than market expectations, however the upward momentum of XAU/USD returned early this morning and Currently the precious metal is trading around $2,386.80. If bearish momentum increases in the near term, support at $2,268 will come into view, with $2,233 lower. The focus of the market today will be the speech of Fed Chairman Jerome Powell. The anxiety underpinned gold's rally even as expectations for when the Fed would cut interest rates were pushed back. Instead, gold prices have been supported by other factors including strong buying by central banks, rising demand from Chinese consumers and rising geopolitical risks. There is growing evidence that the inverse relationship between bullion and US real interest rates is faltering. This phenomenon happened on Monday, when gold prices increased along with US government bond yields. Citigroup raised its 2024 gold price estimate to 2,350 USD/ounce and adjusted its 2025 gold price forecast to 2,875 USD. This happened after Goldman Sachs Group said that gold prices will increase continuously in the future, raising its year-end prediction to $2,700.
OANDA:XAUUSD
by SantaTradeGold
gold buy confirm signal Gold price consolidates the rebound below $2,400 amid risk-aversion. Dollar gains on strong US Retail Sales data despite easing Middle East tensions. Will Gold reclaim $2,400 ahead of Powell speech? As observed on the four-hour chart, Gold price is holding comfortably above the 21-Simple Moving Average (SMA) at $2,363, having reclaimed that barrier in Monday’s North American trading. The Relative Strength Index (RSI) is pointing north while above the 50 level, currently near 61.0, justifying the latest move higher. If buying momentum gains traction, immediate resistance is seen at the $2,400 round figure, above which the record high of $2,432 will be retested. Gold has been considered a highly valuable commodity for millennia and the gold price is widely followed in financial markets around the world. Mostly quoted in US Dollars (XAU/USD), gold price tends to increase as stocks and bonds decline. The metal holds its value well, making it a reliable safe-haven. It's traded constantly based on the intra-day spot rate. Improve your technical analysis of live gold prices with the real-time XAU/USD chart, and read our latest gold news, expert analysis and gold price forecast.\ gold now 2371 tp1 2375 tp2 2379 tp3 2383 tp4 2400
OANDA:XAUUSDShort
by Mark804
1
Gold bullish more and more others country in whole in warGold has been hitting all-time highs almost daily for the past two weeks, reaching $2364 in the spot market on Tuesday before the start of US trading. The ability to rise above $2071 per ounce, which gold found in late February, has signalled a break of resistance that has kept gold above since August 2021 Gold is now rising more actively than it did in the previous long-term bull cycle. In 2011, years of gains were followed by a two-year consolidation
OANDA:XAUUSDLong
by Mrsam36
AUDCAD: Channel Up bottom buy opportunity.AUDCAD is neutral on its 1D technical outlook (RSI = 45.713, MACD = 0.002, ADX = 36.219) as it is testing the 1D MA50 and 1D MA200 periods at the bottom of February's Channel Up. This is a technical buy opportunity on the lowest possible risk, since as long as the Channel Up holds, we can target a Higher High at +2.30% (TP = 0.90500) like the one before. If the Channel Up breaks the loss will be minimal and we'll be able to short and target the S1 level (TP = 0.87300). 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 break range above the high level read the caption The fact we saw an intraday break above $2400 quickly reverse suggests traders are keen to book profits, which in turn suggests we may be about to experience some sort of shakeout at these highs.” Gold price (XAU/USD) oscillates in a narrow trading band heading into the European session on Tuesday and remains well within the striking distance of the all-time peak touched last week. The US Dollar (USD) climbs to its highest level since early November inflation. The hawkish outlook remains supportive of elevated US Treasury bond yields and keeps a lid on any meaningful appreciating move for the non-yielding yellow metal.
OANDA:XAUUSDLong
by Mrsam36