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GBPUSD will decrease when it hits resistanceGBPUSD is a bit clearer as we can see a clear pattern of higher highs and higher lows this week. The question will be whether bulls have one more push to the upside and push Cable toward the 1.2600 handle. If we do break below the 50-day MA we have support at the 1.2400 mark and lower at the 1.2360 mark. A selloff ahead of the weekend may also be on the cards as this would be down to profit taking as buyers who got in during the early part of the week may want to close out before the weekend. A lot will depend on the return of liquidity tomorrow and how much risk market participants are willing to take before the weekend.
Short
by TinaTradingGold
EURUSD has an uptrendThe dollar index DXY, which measures the U.S. currency with six peers, eased 0.029% to 103.73, staying close to the two-and-a-half month low of 103.17 it touched earlier this week. The index is down 2.8% for the month, on course for its weakest monthly performance in a year on rising expectations that the Federal Reserve is done raising interest rates and could start cutting rates next year. Markets have dialled back expectations of Fed rate cuts in 2024, with futures now showing a 26% chance that the Fed cuts its target rate at the March 2024 policy meeting, according to CME Group's FedWatch tool. That compares with a 33% chance last week. The euro stood at $1.0904, having risen 0.16% overnight after a series of preliminary surveys showed recession in Germany may be shallower than expected, which offset a downbeat reading of French business activity.
Long
by TinaTradingGold
Gold trading ideas todayWorld gold spot price is around 1,991.9 USD/ounce, down 0.92 USD/ounce compared to overnight. Gold futures price for February 2024 on the Comex New York floor is at 2,013.3 USD/ounce. However, experts commented that the decline in gold prices was stopped by expectations that the US Federal Reserve (Fed) had ended the cycle of raising interest rates. Lower interest rates typically boost gold prices because they reduce the opportunity cost of holding non-yielding assets. UBS analyst Giovanni Staunovo said that falling prices are a good buying opportunity because at some point the Fed will cut interest rates. This expert predicts that the gold price will increase to 2,150 USD/ounce by the end of 2024. OANDA:XAUUSD BUY 1990 - 1988 TP1: 1995 TP2: 2000 SL : 1983
OANDA:XAUUSDLong
by TinaTradingGold
EURUSD's uptrend returnsThe EUR/USD currency pair remains steady around 1.0900 as markets anticipate the release of Eurozone Purchasing Managers' Index (PMI) figures, with investors looking for signs of economic recovery in area. Upcoming data, expected to show manufacturing PMI at 43.4, services PMI at 48.1 and composite PMI at 46.8, could provide insight into the economic health of the US. Eurozone amid challenging global conditions. In recent statements, Bundesbank President Joachim Nagel indicated that interest rates in the Eurozone may be approaching a peak, suggesting a cautious approach to further increases. ECB Vice President Luis de Guindos reinforced this view by backing a data-driven approach and downplaying discussions of possible interest rate cuts in the near future. Investors and analysts will be closely watching the PMI figures for signs of the Eurozone's economic trajectory, which could influence the European Central Bank's monetary policy decisions. Europe in the coming months. A better-than-expected PMI result could bolster confidence in the euro, while weaker figures could raise concerns about lingering economic headwinds in the region.
Long
by TinaTradingGold
AUDUSD BUY - High probability tradeHi Everyone, it's been a while but I'll slowly get back at posting my trading ideas here. Today's setup is on AUDUSD. AUD has had a good rally with the US Dollar weakness, which is currently retracing and reaching a key level. My Setup takes into account the 50% Fibonacci retracement as well as 0.65200 area of previous resistance that could be tested as a support to continue to move price up! I'm placing my stop loss below the Order Block that broke recent structure - in case the market does not respect that level, this setup will no longer be valid and we should look for another opportunity. However, I think this is a great trading idea with added confluences! Let me know your thoughts! Good luck! Cheers, Gaspar_Trader
Long
by Gaspar_Trader
XAUUSD : TODAY'S GOLD TRADING STRATEGY The movement in the precious metal comes amid global economic sentiment hit by a weakening US dollar and speculation about a more dovish policy stance by the Federal Reserve. The Comex gold market has been fueled by these expectations. According to forecasts from CME's Fedwatch tool, there is about a one-third chance that the Federal Reserve will begin cutting interest rates as early as March of next year, with the balance expected by the end of 2023. Further affecting market dynamics is lower-than-expected US bond yields, which are currently lower than Fed interest rates. What's different is that this has brought up discussions about the possibility of demonetization in the near future. Adding to the global economic story are China's pledges to argue for fiscal measures to strengthen the economic recovery. These solutions are spearheaded by the initiatives of Finance Minister Lan Fo'an. However, the cautionary tone was also struck by Richmond Fed President Thomas Barkin, who warned against a slow assessment of the timing of the cake that could require prolonged high interest rates.
OANDA:XAUUSDShort
by TinaTradingGold
EURUSD trading strategyThe euro to USD exchange rate increased 0.06% at 1.0946. The dollar fell to its lowest level in more than two months, falling deeper than last week as investors largely believed that the Federal Reserve The state has completed its rate hike cycle and is looking ahead to when it might begin cutting interest rates. According to CME's FedWatch, the market is currently trying to determine when the Fed might begin cutting interest rates and is currently pricing in a more than 50% chance of a cut of at least 25 basis points in May. Joseph Trevisani, senior analyst at FXStreet.com said that credit, equity and currency markets are convinced that the Fed has completed raising interest rates, but the Fed is not yet ready to say so. Therefore, the greenback is gradually weakening, simply because the Fed is trying its best to decide to raise interest rates.
Short
by TinaTradingGold
EURUSD | COULD HAVE A PULLBACK? SELLHey Traders! Okay this trade is against the overall market trend which is typically bad news, however we are sitting a important monthly pivot line 1.09434 in combination with the overbought RSI + the recent bearish harami candlestick formation. I believe should have a pullback towards the 20 MA which is around 60 pips, if that breaks then surely it will drop further down. 📈✅ Since its a reversal trade, I would lower lot size, because the risk is always higher when trading pullbacks.
Short
by FX-TradingLions
Bitcoin pullback setup for short entryNothing all too technica l besides the overextension that we have seen. Mostly a short-hunt in my opinion. I am mostly founding this short on the recent performance BINANCE:YFIUSDT had. For those who are new, YFI is a genius-shitcoin that once was deemed to be the next btc I guess? AFAIK there were no recent developments / implementations made but I stand to be corrected. 50% gain in this short period seems just too much eh? Perhaps it is a bit more overextended compared to BITSTAMP:BTCUSD but in a more distilled way. Shitcoins like this paint a perfect picture of the human greed and we can sometimes use them as refrences. TP's really arbitrary, yet I am following a close line around the ascending diagonal line cause it might act as a support.
Short
by dicetrade
5
Bitxer's SOL/USDT Analysis - Spot On🌟 Bitxer's SOL/USDT Analysis - Spot On! 💥📊 🎯 Analysis Validation: SOL/USDT's recent movement aligns perfectly with Bitxer's analysis. As anticipated, SOL/USDT hit the projected mark at 66.52. 🔍 Accuracy at Its Finest: Bitxer's insights continue to deliver 100% accurate predictions. 🚀 Stay Connected for More: Keep following Bitxer for dependable and precise market signals. 💡 Insights for Success: Bitxer aims to provide you with the best trading guidance for success. Stay tuned for further insights and accurate signals from Bitxer! 🌟📈🚀
by Bitxer_PK
GMT/USDT Long: Seizing the Bullish Momentum! 🚀💹Certainly, here's a message for TradingView with emojis and the name "bitxer": 🚀 Bitxer's Trade Alert 🚀 Symbol: GMT/USDT Position: Long 🎯 Targets: 1. 0.2063 2. 0.2246 (Best Entry Point 🚀) 3. 0.2349 🛡️ Stoploss: 0.1967 📈 Analysis: GMT is currently in its demand supply zone and appears poised for a bullish run. The best entry point is at 0.2246. However, please exercise caution and consider your risk management strategy and account wallet size. You may choose to allocate 30% to 40% of your capital for this trade. Remember, only invest what you can afford to lose, and keep a close eye on the market for any developments. Happy trading, Bitxer! 📊💰👍
Long
by Bitxer_PK
2
BTC Breakpoint Alert! ⚠️ Watch for the Dip and Rise. Time to Tra🚀 **Crypto Update! 🌙📈** $LUNA2/USDT is on the rise, offering potential for scalping gains. Meanwhile, keep an eye on BTC! If it breaks below 35,000, a dip might be in the cards, possibly followed by an upward trend between 1:45 AM to 3:45 AM Pakistan time. Exercise caution, manage your risk, and trade with care. Embrace the Bitxer analysis experience and enjoy the journey! 📊💹 #CryptoInsights #TradeSmart
by Bitxer_PK