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DXY 16 hour chart XABCD TP bulls 106.60🔸Hello traders, let's review the 16 hour chart for DXY the US dollar index today. Speculative XABCD in progress, with PRZ/D set at 106.60, so expecting more gains/ upside in September. Bullish outlook for DXY / Bearish outlook for EURUSD. 🔸XABCD structure is defined by point X at 105.60, point A at 101.10, point B at 104.30, point C at 100.00, point D/PRZ at 106.60, currently all points validated, point D/PRZ pending in early October 20233 🔸Recommended strategy for DXY/EURUSD traders: DXY accumulate on dips expecting more gains, final TP bulls is 106.60. EURUSD traders, short sell rips/rallies final TP bears EURUSD is set at 1.0650 (bid now is 0800) . good luck traders! 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
TVC:DXYLong
by ProjectSyndicate
34
BoE Rate Decision Sparks Divergence between BTC/GBP and GBP/USD I bring exciting news that presents a unique opportunity to leverage the recent Bank of England (BoE) rate decision in your trading strategies. The resulting divergence between BTC/GBP and GBP/USD has created a temporary relationship with immense potential for predicting appropriate moves. Let me shed light on this exciting prospect and inspire you to act. As you are aware, the BoE recently announced its decision to maintain interest rates, but more importantly, it provided forward guidance indicating a potential shift towards a more hawkish stance shortly. This development has had a profound impact on the currency market, leading to a divergence between the British Pound (GBP) and Bitcoin (BTC) against both the US Dollar (USD) and each other. The GBP/USD pair has experienced increased volatility as the hawkish sentiment from the BoE has strengthened the Pound against the Dollar. Simultaneously, BTC/GBP has witnessed a contrasting movement as the cryptocurrency market reacts differently to the BoE's decision. This discrepancy between the two pairs presents a remarkable opportunity for astute traders like yourselves. Now, you might wonder how to capitalize on this temporary relationship. Well, let me offer you some suggestions: 1. Observe the correlation: Monitor the movements of BTC/GBP and GBP/USD closely. Look for patterns and correlations that emerge due to the BoE rate decision. Identifying these relationships can provide valuable insights into potential trading opportunities. 2. Utilize technical analysis: Apply your skills to BTC/GBP and GBP/USD charts. Identify critical support and resistance levels, trend lines, and indicators to gauge potential entry and exit points. This approach can help you make informed decisions based on the temporary divergence. 3. Stay updated with the news: Keep a keen eye on the BoE, GBP, and BTC news. Any new developments or statements from central bank officials can significantly impact the temporary relationship. Knowing these factors will allow you to adapt your trading strategy accordingly. 4. Leverage risk management: As with any trading opportunity, it is crucial to manage your risk effectively. Set stop-loss orders, define your risk-reward ratio, and diversify your portfolio to mitigate potential losses. By employing prudent risk management practices, you can safeguard your capital while aiming for profitable trades. Remember, this temporary divergence between BTC/GBP and GBP/USD is an opportunity that may not last forever. By acting now and capitalizing on this unique relationship, you can make well-informed trading decisions that align with the prevailing market sentiment. So, fellow traders, let us embrace this exciting prospect with optimism and determination. Stay vigilant, adapt your strategies, and make the most of this divergence to predict
by bryandowningqln
WHY I THINK WE ARE IN FOR A EASY SELLThere are several reasons why one might believe that GBP/USD will fall after reaching a supply zone: 1. Technical analysis: A supply zone is an area on a price chart where there is a concentration of sellers, leading to an imbalance between supply and demand. When the price reaches this zone, sellers may overcome buyers, leading to a potential reversal and downward movement in the GBP/USD pair. 2. Market sentiment: If the supply zone coincides with negative market sentiment towards the GBP, such as concerns about the UK economy or political uncertainties, it may reinforce the likelihood of a downward movement in the pair. Traders and investors may take advantage of the supply zone to sell GBP/USD, putting additional downward pressure on the pair. 3. Fundamental factors: If there are fundamental factors such as weak economic data or dovish monetary policy signals from the Bank of England, it could increase the probability of a downward movement in GBP/USD after reaching a supply zone. 4. Profit-taking: Traders who have previously bought GBP/USD at lower levels might decide to take profit once the price reaches the supply zone. This selling pressure from profit-taking can contribute to a downward movement in the pair.
Short
by ForexHitmann
2
GBPUSD 4 hour S/R tradeBetween April 3rd & 4th GU pushed through a strong 4H resistance level at 1.24. - GU is currently trending higher and holding well above the 4H 200 EMA and - retracing back towards 1.24 resistance level now turned support. - 1.24 price level near the 4H 50 SMA level - a pull back to 1.24 is a 50 retracement on the current swing up. I am expecting a retest of 1.24 and the 50 SMA before GU continues back to the upside with a target of 1.26. Idea is to enter with a 1H rejection off the 1.24 area. Possible the trade may not trigger due to fresh demand zone located near the 1.23 area, if so this trade becomes my back up trade. Also due to the demand zone created on April 3rd price may not achieve the intended target. A possible way to manage this trade is to trail the stop and cut risk in 1/2 at 1:1 and BE at 2:1. In addition take 15% off at 1:1, then again at 2:1. See if the remaining 70% will make it to the target.
Long
by SparknTrader
2
USD/JPY is relatively optimisticUSD/JPY At present, USD/JPY is relatively maintained at its high level since this year, and the US dollar has recently gained support in Powell's hawkish speech, and the bullish sentiment of the US dollar is rising, limiting the room for USD/JPY to fall. Judging from the 4-hour chart, the current market has received certain buying support at the 136 mark, and the market has been able to rebound, but there is still a lack of strength.So I think it will be digested in the form of shocks from the technical point of view alone. Waiting for the policy decision of the Bank of Japan on Friday and the monthly non-farm payrolls report of the United States should provide a new thrust for USD/JPY. In addition, structurally speaking, before the end of the USD/JPY market, it is expected to form a head and shoulder pattern, but the right shoulder pattern has not yet been constructed, so USD/JPY should have a period of rebound from the technical structure before turning into a downward pattern; in addition, the 136 mark is likely to attract some bulls, thereby limiting the market's decline, and the 135 position is the strong support at the previous top-bottom conversion position, only after USD/JPY breaks below the 135 position can it be regarded as a short trend.Before that, USD/JPY was relatively optimistic. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
Long
by Blessed_V
2