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GBP/USD: Bullish Continuation or Reversal?Today, GBP/USD continues its upward trend and is trading around 1.312 by the end of the session. Overall, the pair is approaching a key support level, and the EMA 34 and EMA 89 lines have not yet reversed, indicating that bullish momentum may still be in play. The recent price pullback seems more like a test rather than a confirmed reversal. However, we must not rule out the possibility of breaking support, especially if the Head and Shoulders pattern completes as projected. The 1.3261 resistance level is currently being actively defended by sellers. Should a break occur, GBP/USD will present a profitable opportunity for short sellers, with the price potentially heading towards the lower boundary of the ascending channel once again. This is a critical moment to closely monitor the market. Whether it's a continuation of the uptrend or a support break, make sure you're ready for both scenarios. Good luck with your trading!
Short
by Bentradegold
USDJPY: Back to Uptrend?Hello everyone, Currently, USDJPY continues its strong upward momentum, trading steadily around the high level of 146.70, up 0.19% on the day. From a technical analysis perspective, USDJPY is forming an Elliott Wave 5 pattern, with the first three waves already completed (currently in wave 4). Ben expects the support level around 145.77, aligning with the 0.618 Fibonacci retracement of the previous upward move, to hold, with the next target being the psychological level of 149.22. What about you? Where do you think USDJPY will gain strength next? Share your thoughts!
Long
by Bentradegold
1
XAUUSD: Positive Technical OutlookHello everyone! Currently, gold is hovering around the $2,658 mark in early trading, showing a slight recovery after its price correction from $2,640 late yesterday. On the technical chart, gold continues to maintain a strong uptrend within a parallel wedge pattern, with the convergence of the 34 and 89 EMAs signaling further upward potential. A solid support level is also clearly established, reinforcing this recovery trend. Given these factors, we can confidently expect gold to break out of its current sideways phase, likely surpassing the upper boundary of the wedge and pushing higher in the near future. Therefore, the preferred strategy right now is to *buy* – seize this opportunity, my friends!
OANDA:XAUUSDLong
by Bentradegold
EURUSD: Continuously searching for new bottoms!Dear Investors, Today, let's dive into the EURUSD pair analysis with Conan! In recent days, EURUSD has not had many big fluctuations, but still maintains the trend of finding new bottoms through red candles. Technically, the double top pattern has been confirmed and the price has broken the 1.1100 level, opening the possibility of a deeper decline. However, to break the strong support at 1.1000, the sellers need confirmation from the new resistance zone at 1.1085 - a level that matches the 0.618 Fibonacci level in our forecast. Potential profit-taking levels that investors can consider are 1.1000 and 1.0900 respectively. What do you think about this analysis? Share your views!
Short
by ConanTradingFX
Trading strategy !Hello, dear traders! In my view, the recent rally in gold is mainly due to expectations of lower US interest rates and the growing demand for safe havens amid geopolitical uncertainty. Currently, gold is trading around $2,660, down -0.14% on the day. However, I believe that the overall bullish trend remains intact. Looking at the 4-hour chart, I can see that XAUUSD is holding above the rising trendline and the 34.89 EMA. This reinforces the idea that gold prices could continue to rise. If gold breaks above the all-time high of $2,685, this could signal further upside momentum, targeting round numbers like $2,700 and even the psychological level of $2,750. What do you think about the trend of XAUUSD? Do you see more room for it to break higher? Let's discuss!
OANDA:XAUUSDLong
by Bentradegold
1
Gold price today is still supported to increase !Hello everyone! What do you expect from the gold price today, let's discuss today's strategy? Yesterday XAUUSD did not change much compared to yesterday's trading session, fluctuating around $2656, down 0.1% due to lack of new bullish momentum. Although it is under some short-term pressure due to the strength of the USD, the situation in the Middle East is gradually strengthening, promoting the demand for safe-haven gold. Besides, there is still positive potential for further appreciation of XAUUSD, as it is still in an unbroken upward channel. A break of $2660 will not see significant resistance until $2670. What do you think?
OANDA:XAUUSDLong
by Bentradegold
1
USDJPY: Strong recovery from 143.00Ben, hello everyone! Let's dive into today's USDJPY analysis with Ben! USDJPY is in an uptrend today, currently trading at 143.95, up 0.29% on the day. With USDJPY continuing to trade steadily at this positive level, the resistance level of 144.50 will be set as a short-term target, before potentially reacting and testing the price level of 143.00, forming a trend line and using it as strong support for further increases in the medium and long term. The current expected price levels are at the round level of 145.00 and 146.00 respectively and even the upper trend channel limit at 147.00. Wishing you all profitable trading!
Long
by Bentradegold
1
XAUUSD: 500 pip trading strategy!Dear friends, XAUUSD continues to gain some recovery momentum as it has reclaimed 2625, but the main trend and the long-term trend are still moving in a bearish direction from the head and shoulders perspective. In the short term, the price is approaching 2650 and XAUUSD is approaching the neckline limit. And the bearish pattern is expected to continue to strengthen in the near term, as shown by the unchanged 34.89 EMA, the target is the support levels of 2605 - 2600. And you, how do you think XAUUSD will move in today's trading day!
OANDA:XAUUSDShort
by Bentradegold
EURUSD 1.11305 -0.02% SHORT MULTI TIME-FRAME ANALYSIS + DXYHELLO TRADERS Hope everyone is doing great 📌 A look at The EURUSD At the close of ASIA GOING INTO THE LONDON, TO NY PM SESSION * With a bullish run into Monday CLOSE (PO3) today will be looking for some retracement. * looking at the daily last week Friday failed to take high which is a sign of weakness on EU. * Looking at the IFVG below as targets as well. * even though the -OB is violated looking for a retracement. * on the 4H looking for a bullish open to take ASIA high LQ. * PO3 * Push higher before going for lower structures. * looking for an aggressive move above out of the range to sweep. * and aggressive in. * this where I would look for entries short. * Looking for the take of that ERL. * with two possible OTE ( ASIA HIGHS, AND LONG TERM HIGH) , EXECUTION IS BASED ON RR & RISK MANAGEMENT. * DXY 4H - Will wait for the DXY to take ASIA lows and trade back in the range as a confirmation as well... * BASED on the price action served next session... * We will see what does the market dish. 🤷‍♂️😉🐻📉🐮📈 HOPE YOU ENJOYED THIS OUT LOOK, SHARE YOUR PLAN BELOW,🚀 & LETS TAKE SOME WINS THIS WEEK. SEE YOU ON THE CHARTS. IF THIS IDEA ASSISTS IN ANY WAY OR IF YOU ENJOYED THIS ONE SMASH THAT 🚀 & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - I TAKE MY TRADES ON A INTRA DAY SESSIONS BASIS THIS IS NOT FINACIAL ADVICE TO EXCECUTE ❤ LOVELY TRADING WEEK TO YOU!
Short
by PULEMokhothu
10
AUDUSD M15, Intraday TradeI just shorted AUDCAD, Bearish 5-0 Pattern on the 1-hourly chart, and now AUDUSD on this Bearish Gartley Pattern. It seems like the Australian dollar may have a bearish movement for the next couple of hours. If you have been following, you should know I don't usually trade on the M15 chart, but this one has an upsize trade component. What is an upsize trade? An upsize trade is a trading setup that allows me to stretch my final target to the next pattern completion. It's a Trade Management skill that I've used for years. Before using it, You must be very familiar with the product and strategy.
Short
by RaynLim
[INTRADAY] #BANKNIFTY PE & CE Levels(26/08/2024)🔔 Bank Nifty Update for Today: 📈 Gap-Up Opening Expected: Key Level: 51050 Primary Upside Target: 51450+ Extended Upside Target: 51950+ Bank Nifty is anticipated to open with a gap up today. If the index sustains above the 51050 level after the opening, we can expect an upside rally reaching up to 51450 or higher. Should Bank Nifty break through the 51550 level, this rally could extend by another 400-500 points, potentially reaching 51950 or beyond. 📉 Watch for Downside Risks: Critical Support Level: 50950 Major Downside Risk: Only expected if the index falls below 50950 🔄 Potential Resistance: Resistance at 51450: There is a possibility that Bank Nifty might face resistance around the 51450 level during its upside rally.
NSE:BANKNIFTY
by TradZoo
BANK NIFTY INTRADAY LEVELS 21/08/2024BUY ABOVE - 50740 SL - 50600 TARGETS - 50890,51070,51300 SELL BELOW - 50600 SL - 50740 TARGETS - 50420,50250,50100 NO TRADE ZONE - 50600 to 50740 Previous Day High - 51020 Previous Day Low - 50420 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:BANKNIFTY
by Jagadheesh_JP
Ascending Triangle Pattern Breakout in ICICIGIICICI Lombard General Insurance (ICICIGI) Analysis – 30-Minute Timeframe On the 30-minute timeframe, ICICI Lombard General Insurance (ICICIGI) has displayed a bullish breakout from an Ascending Triangle pattern, which is typically considered a bullish pattern indicating potential upward momentum. The breakout suggests a strong buying interest, with expectations of an upside rally in the stock. Key Levels: Entry Point: An entry opportunity is identified above the 1995 level, which acts as a confirmation of the breakout. Stop Loss: To manage risk, a stop loss is recommended just below the 1960 level. This level serves as a crucial support, and breaking below it may invalidate the bullish setup. Target Levels: Intermediate Target: The first target for this trade is set at 2030, where partial profits could be booked. Final Target: The final target is anticipated at 2065 or above, aligning with the expected continuation of the bullish trend post-breakout.
NSE:ICICIGILong
by TradZoo
4R intraday trade setup on GoldOne of the new strategies I am testing to give away for free in cleo platform just generated a BUY signal on Gold. It expects retracement into the overlaying M15, M5 and M1 FVGs and targets local high at 2407. Entry: 2397 Final TP: 2407 (4.2R) SL: 2394.6 Will update if we get triggered. Trade is invalidated if price moves too far in the trade's direction (around 2402 is the first resistance area, so if the price reaches there and rejects, that is not a good signal).
OANDA:XAUUSDLong
by CleoFinance
2
NF- XAUUSD - Market Expectations of a New ATH in 2024Hello dear traders! In general, after yesterday's consolidation above the $2430 level, the price has rebounded, amid a stronger US dollar. Gold rebounded after data showed very narrow manufacturing activity, while US employment data highlighted a weak labor market ... Accordingly, initial jobless claims increased by 14,000 seasonally adjusted to 249,000 in the week ending July 27. The number of jobless claims rose to the highest level since August 2023. Therefore, the gold market has not been operating at full capacity as central bank buying and physical demand in Asia remain weak, it is expected that the gold market will continue to be interesting in the coming period and head towards a new ATH this year. The focus is on new ATH today after the NF news was released. I expect the market to continue searching for new ATH this year. Short-term levels to watch: Resistance: 2470 - 2484 Support: 2443 - 2430 In the short-term, I expect the price to continue to correct from 2470 to consolidate before growing further. Gold is currently bullish (trend, sentiment and interest), so the nearest strong support level according to the Fibonacci tool 1.618 (2443) USD price could become a reversal zone for further strengthening. Potential target is 2483 - 2500 USD.
OANDA:XAUUSDLong
by UnknownUnicorn80249399
4
EURUSD: SELLHello everyone. Let's discuss and strategize today! On the EURUSD impact factor: EUR/USD remains firm above 1.0800, breaking a two-day losing streak in the European session on Wednesday. However, further upside momentum seems elusive, as traders prefer to wait for Eurozone inflation data and the Fed's policy decision before placing fresh bets. On the EUR/USD fresh outlook: Looking at the 1D chart, although the EUR/USD pair remains well supported as it is in a medium-term rising channel, it is currently showing signs of a downside correction. Against this backdrop, the 34 EMA and 89 EMA are converging, suggesting that the trend may shift from bullish to bearish. Accordingly, the recent candles showed a rejection at the resistance zone around 1.08718, which could lead to a short-term downtrend. Resistance Level: Resistance (SL) : 1.08718 Support (TP ): 1.07125
Short
by UnknownUnicorn80249399
3
GBP/USD holds near 1.2850, barrier holds at channel boundaryHello dear traders! GBP/USD retraced recent losses, trading around 1.2832 during Asian hours on Wednesday. Daily chart analysis shows the pair is in the narrow part of the descending channel, suggesting a consolidation phase or a possible reversal. Technically, GBP/USD remains slightly below the downtrend line, currently at 1.2860, and the Relative Strength Index (RSI) indicator on the 4-hour chart remains slightly below 50, reflecting a lack of buying interest. On the downside, 1.2830 (50% Fibonacci retracement of the latest uptrend) acts as interim support ahead of 1.2800-1.2790 (psychological level, 200-period SMA) and 1.2750 (static level).
Short
by UnknownUnicorn80249399
The trend of strong increase and bright prospects_ XAU/USDHello everyone, today we will together analyze in detail the situation of the gold market today based on the monthly chart. This chart gives us a lot of important information about price trends and important technical signs to note. Let's explore with me! It is known that on the monthly chart of gold (XAU/USD), we can see that the current gold price is trading at $ 2,434. Accordingly, the chart shows that a parallel channel increases gradually (indicated by two blue lines), lasting from 1180 to the present, showing a stable and strong growth trend. Meanwhile, gold has undergone the accumulation period from 2011 to 2024, in which the price passes and creates important support and resistance levels. In March 2024, the gold price made a strong breakthrough with a big price candle on the monthly chart, marking a major change in the trend. Technically, EMA 34 (blue) at $ 2,012.954 and EMA 89 (purple) at $ 1.756.728 are acting as important support levels. Gold prices are currently trading on both EMA lines, showing that the increase trend is still being maintained strongly. In addition, the clear display chart of parallel channels increases gradually with high probability that the price will reach the top of this channel in the near future. This is a sign that the long -term growth trend of gold is still very strong. According to the theory of Elliott wave, gold is starting to conquer the pulse wave (wave 3), usually the strongest wave and the potential to increase the price huge. This sign strengthens the prediction of the strong growth of gold price in the near future. Therefore, we have seen the return of big investors for gold in 2024, this will promote higher prices. With large liquidity, big investors will continue to buy gold in a strategic way, pushing prices to a higher level. Based on the technical analysis and signals from the monthly chart, we can predict that gold price will continue to grow strongly in the coming years. Potential growth can reach 300% within 3 years, bringing gold price to the peak of the parallel channel gradually increasing. If you are wondering between investing in gold or Bitcoin, gold may be a safer and more potential choice at this time. The stability and growth potential of gold will bring significant profits to investors in the near future. Let me know your thoughts on this analysis in the comment section and do not forget to "watch" to update more interesting investment ideas. Trading is not difficult if you have a good coach! Thank you and wish you a successful transaction.
OANDA:XAUUSDLong
by UnknownUnicorn80249399
Gold increased higher than 2430 after the news yesterdayHello dear traders! The price of gold consolidating the strong momentum of the previous day to the highest level in two weeks in the context that the Fed will cut interest rates as soon as possible in September. Moreover, geopolitical risks and concerns aboutness Global economic downturn will continue to benefit from safe shelter from Xau/USD. Accordingly, the technical trend continues to show that the buyer continues to be supported after the news yesterday, with the two peaks formed on the breakthrough channel the previous downtrend. In addition, the hat dynamic line (EMA) is nearly 2430 USD, continuing to provide support for gold price speculators. This has contributed to making the market hotter than ever. It is expected that this price increase will reach 2468 USD, if this level is surpassed, nothing is short of gold increasing higher than reaching 2483 USD. At this time, the implementation phase will form. Karina is waiting for the trend change confirmation to strengthen the purpose. What is your thoughts on this issue? Do you agree with me?
OANDA:XAUUSDLong
by UnknownUnicorn80249399
6