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G20summit

EURCHF - **Trade idea for next week**One of the best performance when it comes to momentum. I've been trading this pair since the break out of the wedge formation we've had and the support/resistance lines are so clean. It's within a range at this moment of time. This weekend we have G20 meeting. I wouldn't enter this trade as it's Friday. Friday is a day where i'd enter quick scalps, go through my trade journal and seek out opportunities for next week. As it's within consolidation, we need a clear break out to either direction. If we have the bears in control, of course i'd look to target trend-line areas. However, if we carry on the bullish momentum i'd be targeting a 261.8 - The best opportunities is 161.8 or 261.8, the risk/reward is high usually with depending on where you'd entered. The fibs of 261.8 = nice resistance area as well. Great trade for next week opportunities - keep an eye out for G20 meeting this week. Be a hawk...! Remember: Just a trade idea, not a recommendation. Give us a LIKE & COMMENT on any other pairs you'd like us to analyse. Happy weekend to you all.
by Trade_Journal
Results of the week, dollar, gold, ruble and oilLet’s summarize the previous week. It began with the G20 summit outcome announcement, namely, Trump and discussed possible resolutions to the trade war that's dragged on between the world's two largest economies. The OPEC extends production cuts for 9 months, The non-farm payroll (NFP) released surprisingly positive figures in its report. But to say that, clarity reigns in the financial markets we cannot. The US and China negotiations do not guarantee anything, Trump still institutes a dollar devaluation policy. Actually, watching the gold dynamics last week, it is easy to understand that the markets are not sure about anything. Daily spikes in gold price ( 30-40 dollars ) is a testament to that. Well, the maximum daily maximum increase over the past three years shows that nothing has been decided yet. As a result, many analysts continue to “bet” on the gold growth in the future. Considering the strongest uncertainty, we still adhere to neutrality in matters of gold trading. Today we tend to buy gold on the intraday basis - its current price seems too attractive. The OPEC influence is mitigated, but oil production in the United States continues to set new records, changing the layouts on the oil market and forming a new market reality. Our position on oil - look for points for its sales, we set positions with fairly rigid stops. We were pleasantly surprised by the United States Non-Farm Payrolls + 244K. beating market expectations of 160 thousand. The markets still believe in a rate cut, but after Friday, a few people bet on 0.5% rate cut, right away. Weak figures would be the final verdict to the dollar. Against the background of such statistics, the Central Bank has many options. So, We look forward to hearing the Jerome Paella. We are waiting for another major event Bank of Canada meeting results. In general, the markets do not expect any surprises, but comments with instructions on changing the vector of monetary policy are possible. So in pair with the Canadian dollar might be volatile on Wednesday Russia's Central Bank head Elvira Nabiullina said that Bank of Russia will reduce the rate by 0.5% The ruble naturally experienced weakness and declined in the foreign exchange market. We recommend its sales. We will continue to look for points for dollar sales. Gold price falling on Friday, we will use it as an opportunity for its purchases. We sell USDJPY. Medium-term pounds purchases look attractive. we will begin to build up a long-term position with EURUSD. In addition, we will sell the Russian ruble, as well as oil.
Long
by Trade24Fx
Overall view of NAS100 and US markets - Update of July 1stPrices were subjected to a bear pressure after settling on the all-time high resistance zone . Without any follow-through, the US markets quietly recovered and reached the @7800.00 target for the second time. In fact, after the G20 meeting this weekend and the set of agreement resulting from it, the odds that NAS100 keeps a bullish momentum are high. Possible targets: @7900.00 (+1300pips or 130points which is around the all-time high) and @8000.00 (+2400pips or 240points). Advice: Stay bullish and buy at any low point while we don't break the 7600.00 bottom level.
OANDA:NAS100USDLong
by Theperfectionist
2
US record, OPEC decision, Australian dollar under threatOn Monday, the markets continued to try to incorporate with the prices the G20 summit results. What Trump declared to be the victory in a trade war but is actually not. So, yesterday we observed the appearance of inefficiencies in financial markets that could be used to make money. In particular, we are talking about the gold falls into the bottoms of 1380-s, which can and should be used for asset purchases and earnings, as well as the growth of the Australian dollar above 0.70, which should be used to sell AUDUSD. About the Australian dollar. Today, the Reserve Bank of Australia cut the rate for the second time in a row (this time from 1.25% to 1%). We believe that this is quite a serious signal to sell AUDUSD. Ideal prices for opening short sales are in the area of 0.7000-0.7020. In this case, stops can be placed above 0.7040, and profits - in the area of 0.6870. Yesterday could be decisive for the dynamics of oil over the next few months. But the outcome of the OPEC meeting was too obvious. The cartel decided to extend the OPEC + No. 2 contract for 9 months until March 2020. Current progress in a trade war is a positive sign for oil. Well, all points are in favor of asset purchases. However, there might be a trap. Given the current consensus, oil growth will need something more than just an extension. For example, an increase in the volume of reductions or some additional conditions that narrow the supply on the oil market. But these conditions remained unchanged. In addition, a potential uncertainty factor is a participation in deal countries outside the cartel. Today, Russia and other countries must agree on their decision and position. At best, they will agree with the OPEC deal, which is already taken into account in the price, at worst they can announce their particular position, which can be an unpleasant surprise for buyers. Total, while oil is below $ 60 (WTI brand), we recommend selling it. We put small stops in this case (above $ 60.40), but profits can be set fairly solid, up to the bottom $ 50. Meanwhile, the United States recorded a new record: 121 months of continuous economic growth. This is a record in the entire history since 1854. Given the potential easing of monetary policy by the Fed, the United States has good chances to extend this series, as evidenced by yesterday's data on US business activity. The ISM index in the non-production sector in June was 51.7 points (forecast: 51.0), which testifies in favor of the growth of economic activity in the country. What cannot be said about the Eurozone, where the PMI index in the manufacturing sector in June was significantly lower than 50 (47.6, with the forecast of 47.8) and was the lowest since 2013. Unpleasantly surprised China, whose PMI in the manufacturing sector was also below 50 (49.4). Our trading preferences for today are as follows: we will continue to look for convenient sales opportunities for the dollar and the Russian ruble. In addition, we will continue to sell AUDUSD. We are selling oil today, but we are closely following the outcome of the OPEC meeting. As for gold, we will continue to work without obvious preferences, selling from overbought and buying from oversold.
FX:USOILShort
by Trade24Fx
Overall view of NAS100 or US markets - Update of June 24thAfter a retest of the resistance zone that carries the high of the year and the all-times high as well, US markets are subjected to selling pressure. Volatility is to be expected at the end of the week with US major news like the initial jobless claim, the GDP annualized or the G20 meeting. NAS100 and its correlated pairs are likely to move to the support zone unless they are brought to @7720.0. Possible targets: @7500.0 (+1200pips or 120.0 per unit) Advice: Stay bearish and sell at any high points while we don't break up the @7720.0 level.
OANDA:NAS100USDShort
by Theperfectionist
Current scenario on ES-MINI S&P 500 by ThinkingAntsOkMain Items we can see on the 4HS chart: a)Using Elliott Wave Theory we can conclude that if we had ABC ( Bearish Movement) / ABC (Current Bullish Movement). Now we can expect a 12345 bearish movement following the idea of a Flat Correction b)On every timeframe starting on the Weekly Chart we can see Divergences on MACD, (this kind of Signal is possibly showing the weakness of the bullish movement) c)We have a Triple Top pattern, which is a major reversal zone that was tested on 2 Historical Maximums, and in this last bullish movement, the price was also rejected from there. d)Currently, we have a Corrective Structure in which the breakout will give us valuable information about the direction the price may take MULTI TIMEFRAME VISION: -Weekly: -Daily:
CME_MINI:ES1!Short
by ThinkingAntsOk
USOIL MARKET BREAKDOWNPrice Action (Technical Analysis): (4H Time Frame) Following up our Mark Up phase completing at a key level of resistance, price is consolidating, as price is not breaking higher highs after 3 Impulsive Waves. We tend to anticipate a Seller momentum breakout as price is accumulating right above our Golden Fibonacci Level giving us more reason to anticipate a bearish breakout. (Daily Time Frame): We are in a Bullish Market which overrules our lower time frame analysis, daily support is our bullish 61.8% retracement, Price breaking below that level of support would've indicated a break in trend but because price respected it, bullish momentum increased massively. I'd like to see price either break and close above 66.07 or price retest 58.75 one more time to continue Long (Price is above 200 Day EMA, Bullish confirmation). If price breaks below support level, i'll expect a retest before going Short. Following our RSI indication we are close to an oversold market. Fundamental Analysis: Reason why price is consolidating at a very key level, giving us reason to go either way is because we are in a very intense week with G20 Nations, bringing uncertainty to the market. The US-CHN deal is also spoken about throughout key investors, Investors/Traders tend to Sell in uncertainty. To soon to call which way USOIL will go, be cautious of any headlines being released. We have high volatility where price is rallied, we can expect the breakout of either or to be big, until then I anticipate USOIL to progress very slowly.
TVC:USOIL
by RiosTrades
TRADERSAI - A.I. Powered Model Trades for THU 06/27Directionless Trading to Continue into the G-20 Summit Weekend With the interest rate cut hopes drying up, a trade war resolution is the next best thing to boost the markets. Until then, it would likely be a directionless, choppy trading in a tight range. The chart shows the trading plans indicated for today by our models (for further details, please check our site - not able to post links here) #ES #SP500 #SPX #SPY #Fed #Record #Yields
SP:SPX
by TradersAIDotCom
G-20 meeting, OPEC meeting & rubleThe last week was not that calm. The Fed on Wednesday it clear that they are ready to reduce the interest rate. Some of the analysts are predicting the dollar falls in the near future by 5 - 10 %. So, we are looking for dollar selling points this week. On Friday the ruble buyers experienced an unpleasant moment when the ruble literary has collapsed and lost 1 % of its value. The reason is that US lawmakers are proposing to impose sanctions against the public debt of the Russian Federation in response to Russia's intervention in the elections. Recall, we recommend to sell the ruble and the current price looks extremely attractive. As for the new sanctions, for now, this is just talking, but the reaction the ruble reaction shows that it is vulnerable even to simple rumors. Boris Johnson and Jeremy Hunt are confirmed as the final two. Boris Johnson has led the voting so far, achieving more votes each time. A winner will be picked up in a month's time. And in the meantime, the candidates are In the process of rolling out their campaigns. The upcoming week is unlikely to be an easy one. The important macroeconomic statistics will be published (US GDP data also), two important events for financial markets will take place this week. This is the OPEC meeting, where the fate of OPEC + №2 should be decided. Accordingly, the oil market could get a boost for several months. And, of course, the G-20 meeting. First of all, we are expecting a signal about the end of the trade war. By the way, if such a signal appears, we strongly recommend paying attention to gold, which gets very high and is clearly ready to fall down. Our trading preferences for the week have changed: we will continue to look for points for selling the US dollar against the Japanese yen, the euro and the pound. But with gold purchases in the week, we slow down, at least, aggressive ones. We expect a correction in gold and prepare for its sale. The oil trade is paused, for the time being - until OPEC meeting result announcement. The ruble sales not only did not lose its relevance but also became the most attractive.
Long
by Trade24Fx
All eyes on G10 currencies – NZDUSD is leadingTrade set up Tactically buyers of NZDUSD can position to enter a buy trade either after a closing break of resistance 0.6883 (16 November high), or after a retracement and retest of the top of the bullish flag pattern around 0.6790. A break out of the flag pattern has given us the confidence to trade this from the long side. We are targeting 0.7100 in weeks, increasing confidence here should price break the 16 November high Why we like it Jerome Powell hit the market with comments sending the US Dollar lower, although we didn’t actually see the comments as that dovish. We've seen a bearish outside day reversal candle in the US Dollar Index, and we want to see a break of the rising channel in the USD Index on the weekly before we firmly believe in continued USD weakness. Reduced expectations of the future Fed rate hikes in 2019 have manifested into NZD and EM strength and the market is gunning for a pause in the Feds hiking cycle. This should limit the downside in NZDUSD, although let’s see how this weekends G20 meeting plays into this. Disclaimer. Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation
Long
by Pepperstone
1
BTC one more correction - end of November. TA/FA. FED, CME, G20FA: - G20 summit (markets been pumped prior to that event - dump on event) - CME futures expire - FED reduction - 26-28.11 been Consensus Invest conference (BTC been pumped during that time - dump after event) TA: - notice very strong trend channel of entire correction since 6300$ - two gann fans supporting possible outcomes - RSI bearish divergences - RSI bearish historical resistance - Stoch turning down - EMA100 (2H) on the top of channel - 4180$ - EMA10 (1D) on higher line of the top of the trend channel - 4410$ - EMA10 crossing down EMA100 on 1W - already 2x 4D 10h intervals before falling Conclusion: - BTC and other markets been artificially pumped pre event this week, and my expectation is that they will dump right before. - One exception here is Consensus event that was known to pump crypto during entire conference of Consensus conference editions. - BTC could break higher of course eg. as Gann fan indicating 5.1k till Friday, though I am not really TA enthusiast after all I wrote. Was looking to support my FA and price action bias, to be precise.
BITMEX:BTCUSD.PShort
by sdzd1234
BTC - If crossed 7200$ we go down if 9200$ crossed we go up Hi Folks. It is pretty nervous these days isn't it? So we will try to show you where we are and why it is not that bad as it looks. Many of you complain about current situation but remember that patience and persistance are as much valued in this game as analysis and reflex. First of all we decided to draw long-term support line. Look at the mid September 2017. The price was around 3000$. Right now around 8000$. Decent return isn’t it? This line shows more organic growth rather than hype. We are nearly there, so only really bad news from the market or some big whale can make the price even lower. Look and the roughest dip lately – 6000$. When it happened, the price returned very quickly to the level of 12000$ (which is very strong resistance). It means 6000$ is very cheap for the market, even though makro surrounding is unstable. Regarding last G20 Summit here is the link with the summary and down below we are listing positive examples of countries (legalizing crypto or going to):https://cointelegraph.com/news/g20-and-cryptocurrencies-baby-steps-towards-regulatory-recommendations Australia Australia is one of the few countries that has actively started building its own cryptocurrency regulations that suit it, without much outward glancing for hints or presidents. For example, the government recently addressed exchange regulations with a mandatory law. Brazil Brazil and its government have seen a lot of potential in Blockchain and to that end have started upping their efforts into research and development of the new technology. Canada Canada is another country that is in a similar boat to that of Australia as they have started the arduous journey of regulating, but in a positive and friendly manner. The Canadian government has given the go ahead to its first ever Blockchain-based Exchange Traded Fund. France As one of the nations looking to open up the dialog on cryptocurrency, France’s stance is clearly geared towards building a regulatory framework that can work globally for a currency that is used globally. Germany Germany are also keen on opening up this dialog, having stated before the G20 suggestion was made, that the only way to control cryptocurrencies would be for international cooperation. Japan Japan made headlines a few years back when it announced that Bitcoin was a legal currency, however, its loose approach to regulation has recently been curtailed as more and more issues have forced regulators to step in. Mexico Mexico will soon be joining the likes of Canada and Australia as countries with active cryptocurrency regulations. The central American nation is just one signature away from regulating cryptocurrency after a law setting out its position passed the lower house. The USA “Do no harm” was unquestionably the right approach to development of the Internet. Similarly, I believe that “do no harm” is the right overarching approach for distributed ledger technology,” J. Christopher Giancarlo, chairman and witness of the CFTC, expressed in front of the Senate this year. Let’s look at the chart and technical analysis: According to Elliot Wave Pattern we may touch level of around 6800$. That level would be identical with the level of organic growth line. We should bounce from this level up up up. If we cross 9000$ it would be strong trend reversal sign. Next very strong resistance at 12 000. It will be difficult to cross it but once we do it we can stay happy and wait for another levels such as 17 000$ and 20 000$. MACD convergence which is very good sign - strong buy signal (light green lines). THIS IS VERY IMPORTANT. Stoch RSI - oversold zone - buy signal SMA 50 & SMA 200 almost at the same level - healthy level achieved. STAY TUNED! DO SHARE YOUR VIEWS WITH US.
BITFINEX:BTCUSDLong
by WBM_Team
2
BTC - G20 SUMMIT SUMMARYTension is in the air. Anticipation is through the roof and Bitcoin is free falling! Well it was, before my idea got taken down. Lucky for me, now I can rewrite my idea knowing that we've just broke above the black resistance line! However we shouldn't get too excited just yet. We have the strong dark red dashed resistance line to get through first and then I will be long on Bitcoin! Before that though we have the upcoming G20 summit so who knows what could happen next! I think now is a great time to step back and watch this blockbuster from the comfort of our computer screens. While we wait for the show to start, we should pay attention to market sentiment, find the key areas of importance and plan for each event so no matter what happens, we will crush it! Let's do this! Market Sentiment Considering we have had a strong break above this wedge pattern, all we need a catalyst to really get this bad boy going. At this summit tomorrow there will be discussion of everything BLOCKCHAIN and CRYPTO. Blockchain is a part of crypto, not the other way round, so they will be separated in these discussions and there are a number of countries that are pro-blockchain and anti-crypto. I expect there to be positive and negative news for crypto and something that is inevitable is regulation. It will probably hurt in the short term but will make crypto stronger later on. Even if the overall reception is 'not bad', I think the crypto community will take it as a plus! We are an optimistic space! However, nobody knows what exactly will happen. I’m going to be listening closely and tweeting as much information as possible. Key Areas of Importance Since the bull trap just above the dark red dashed resistance line, we have formed a descending wedge pattern. While retracing towards the support zone, we managed to break upwards from the pattern! The dark red dashed resistance line is the next important level to break. Once we have broke this, there is a high probability we will be going up from here. A Plan For Each Event Now the bulls have got their act together and ended wave - e once and for all, we could be forming the perfect bullish scenario. If we break the dark red dashed resistance line and hold prices above here, we could enter a long trade knowing there is a high probability we will succeed. We would be trading the reversal on the right side of the market because of the support zone on the chart (remember: long-term, this has always been a bull market) and if news from the G20 summit supports the bulls then we could see explosive action upwards from here. Also, we have the divergence on the RSI for three lows! I will try to catch the break of the dark red dashed resistance line, if it’s too late then I will wait for a pull back. If the market doesn’t break the next resistance and goes sideways then I will wait for support and resistance to form before taking action as we may be entering a less volatile phase. If we don't break the resistance and we fall back towards the support zone then I will be monitoring how the market acts at these levels as a strong break down could keep us in a bearish market for a good amount of time longer. In such case I would be short, short, short! Thank you for taking you time to read this! Please feel free to comment or ask questions. If you feel like this added value to you then please give it a like/give me a follow! You can follow me through this link -> www.tradingview.com
by JoshThomas04
37
It all makes sense now, Bitcoin to 10kA wedge breakout, a descending trend line, Elliot waves theory, It all lines up. Bitcoin is going to 10k. Bitcoin has formed a descending trend line and has been kissing it about once a month. With it being 15 days since Bitcoin has toughed the trend line it is likely for Bitcoin to pump back up to 10k to touch the trend line. In January we saw bitcoin go through an inverse head and shoulders pattern. Many bulls thought that this would end the correction and cause bitcoin to break this trend line. Unfortunately Bitcoin bounced off of the trend line. During March Bitcoin formed a descending wedge. Two days ago bitcoin broke above the wedge and is now rallying toward the top of the trend line. Another indicator that Bitcoin is headed upward is the Elliot Waves Theory. Elliot waves theory has been accurately followed since January. We just got out of the reversal waves and are waiting for our four bullish waves. On top of the technical analysis, there is also a catalyst that is driving bitcoin higher. At the G20 summit meting a few days ago they ruled that there would be no regulatory action toward crypto currencies. The fear of regulation was a main cause of FUD in the market. Now since there is a smaller chance regulation will come in, bitcoin will feel like a safer investment. The trend line, the wedge breakout, Elliot waves theory, and the G20 summit meeting are all reasons bitcoin has upside potential. Thanks for listening, CryptoColm
BITFINEX:BTCUSDLong
by CryptoColm
2