There is a good probability that Eurusd will create a double bottom structure at 1.07597 on the Daily Timeframe. Here on the 1Hr we can observe a Low formed at the bottom of structure and is bouncing hard. I am anticipating a sort of double bottom structure here on EU. EU is flat after PMI data was released. Data was expected to be generally good and it turned out...
The Weekly Candle closed bearish last week. This created the second weekly bearish close in a row denoting bearish momentum. 1.0866 Weekly S/R Zone is no longer relevant. Our Relevant weekly level's now stand as -Weekly Resistance Level : 1.1024 -Weekly Support Level : 1.06647 Our Daily Level's stand as - Daily Support Level : 1.07597 - Daily Resistance Level...
USDCHF - 24h expiry - We look to Buy at 0.8963 (stop at 0.8938) Short-term bias has turned positive. Trend line support is located at 0.8960. Intraday dips continue to attract buyers and there is no clear indication that this trading sequence is ending. We are trading at oversold extremes. We look to buy dips. Our profit targets will be 0.9023 and 0.9033...
On XAUUSD, we have a primarily bullish setup that is currently retracing in the 1960 area and attempting to move back above 2000. My trade is based on the Forex48 2.0 strategy, which is a well-defined graphical configuration. Let me know what you think. Happy trading to everyone.
VMware - 30d expiry - We look to Sell a break of 120.88 (stop at 124.72) Trading has been mixed and volatile. The medium term bias is neutral. A break of the recent low at 121.19 should result in a further move lower. Bearish divergence is expected to cap gains. Short term MACD has turned negative. Our profit targets will be 112.12 and 110.12 Resistance:...
Ethereum - 24h expiry - We look to Buy a break of 1846 (stop at 1796) Daily signals are mildly bullish. A break of the recent high at 1844 should result in a further move higher. 1844 has been pivotal. Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. The primary trend remains bullish. Our profit targets...
On GBPAUD, we have a bearish setup around 1.869. As the price has been descending, it has formed a validated supply zone with two spikes around 1.8780. Following the Forex48 strategy, I have highlighted the entry zone defined as the Point of Interest (POI). The target for the short trade is expected at 1.8620. Let me know what you think. Happy trading to everyone.
1 Potential divergence spotted while price is near a weekly level of resistance. Price broke May 1st high. However, I believe that there could be a potential pullback of at least 30% of the Fibonacci price level. $408 seems like a reasonable target.
On GBPCAD, we have a primarily bearish setup with a price that attempted to change its structure on Friday without success. This morning, the price created a short setup with the entry point highlighted in yellow. All of this follows the Forex48 strategy. Let me know what you think. Happy trading to everyone. Forex48 Trading Academy
Hello,Traders! GOLD is making a nice Rebound from the support Below at 1956 just as I predicted before but A broken rising support Which is now a resistance Is ahead so after the retest I think there is a high chance To see the price go down again Sell! Like, comment and subscribe to help us grow! Check out other forecasts below too!
Hello traders, we want to check the USDCHF chart in the 1-hour time frame. The price is moving in an ascending channel and after breaking the key level between 0.89900 and 0.90000, it has pulled back to this level. We expect this. The level should act as a support level for us and maintain the upward trend and cause the price to grow up to the specified targets....
Eurusd is going down. Will it continue to go down is the question? We are at the Extreme Daily Level 1.08392 of our larger Range. The Daily Candle just printed almost exactly at our Level. Not above nor Below. Bear Market Structure still Maintains itself So long as a 1Hr candle doesn't print above 1.0872 on the 1Hr Timeframe. Unemployment Claims Data is...
The Weekly Candle is now plunging down into a Free Fall. Unemployment Claims Data was poised to improve with 10K less people filing for Unemployment. The data was better than expected as more than 20K less people filed for unemployment in comparison to the previous period. In previous posts I talked about how this may provide a continuation for further downside...
USDCHF - 24h expiry The previous resistance level of 0.9000 was broken. We expect a reversal in this move. A lower correction is expected. We look to buy dips. 20 4-hour EMA is at 0.9005. Our outlook is bullish. We look to Buy at 0.8995 (stop at 0.8970) Our profit targets will be 0.9055 and 0.9065 Resistance: 0.9050 / 0.9062 / 0.9080 Support: 0.9042 /...
Ethereum - 24h expiry - We look to Sell at 1829 (stop at 1879) We look to trade the current range. Bespoke resistance is located at 1830. 1830 continues to hold back the bulls. The preferred trade is to sell into rallies. Our short-term bias remains negative. Our profit targets will be 1709 and 1689 Resistance: 1810 / 1830 / 1850 Support: 1790 / 1770 /...
On AUDUSD, we have a bullish setup this morning with a trade that started after defining a point of interest (POI) overnight, which is a bullish setup. The objective is to wait for a bounce around 0.6620 or enter around 0.664 if a bullish setup forms. The target is in the 0.76 zone. Let me know what you think. Happy trading to everyone. Forex48 Trading Academy
✅EUR_GBP is trading in a Downtrend and the pair Has formed a bearish triangle Pattern so IF we see a breakout The pair wil go further down SHORT🔥 ✅Like and subscribe to never miss a new idea!✅
✅GOLD is about to retest a key structure level of 1944$ Which implies a high likelihood of a move up As some market participants will be taking profit from short positions While others will find this price level to be good for buying So as usual we will have a chance to ride the wave of a bullish correction LONG🚀 ✅Like and subscribe to never miss a new idea!✅