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USD/CAD Toward 1.39 after US Data?The USD/CAD pair has attracted buying interest, maintaining modest gains just below the 1.3700 level. Declining crude oil prices and the strengthening of the US dollar contribute to this dynamic. From a technical perspective, the 50-day Simple Moving Average (SMA) support has been defended, but the lack of sustained support requires caution. A break below the support could lead to deeper losses. Conversely, sustained strength beyond 1.3710 could trigger a short-covering move, but further upward movements may be seen as selling opportunities. The key level of 1.3800 will be crucial; surpassing it will shift the short-term bias in favor of bulls, with the goal of reaching 1.3900, the highest level since May 2020. In fact, on a daily basis, the price is moving in a resistance zone at the 1.37 level, supported by an uptrend channel. My current bias is long since the price is bouncing off the intersection of two daily trendlines. However, before entering, I will wait for US data before the opening of the American market. Subsequently, if my view is supported by the data, I will evaluate and look for a long entry with a target of around 1.39-1.40. Comment and leave a like, greetings from Nicola, the CEO of Forex48 Trading Academy.
Long
by Forex48_TradingAcademy
18
Should I do a FOMC strangle/ straddle play? Read here.So, what's the best way to play FOMC? Probably a strangle. According to last FOMC on 9/20 your NASDAQ:QQQ calls would have printed around +50% or more. Assuming you sold and held your puts, your puts would have given you an extra 200% to 300%. You can do this on any stock obviously. Don't get greedy. Best decision might be to stay out of course. Choosing a definite direction (i.e. holding calls/ puts only without a hedge) is pure gambling. Good luck. Welcome to follow for trade ideas. FOMC chart 9/20:
NASDAQ:QQQ
by kingdips
Can The Dollar Push Higher? Hey traders, welcome back. The dollar is increasing heavily to the upside as I make this video. Now we don't know how price will close but it is important to watch how she closes today. If price continues this could affect the major currency pair market in a mighty way. All Base dollar pairs could continue to increase while Quote dollar pairs could continue to decrease. It's a patience game right now, but may be one to play if you have the right hand.
TVC:DXYLong
by ShaquanLopez
2
Gold Long to 2000Monthly resistance for gold is around 2050. I think in time, hopefully by month end gold will be back up at this area. Following on from the news, Biden has sent $100m to Palistine as aid. This will effect the dollar price, and theoretically push gold further up. We have seen strong bullish movement with gold, Powells speech yesterday has caused a nice rise too. Currently im basing most of my trades and strategy soley from news. I use OBs and FVG, but co ordinating this with fundementals, we can clearly suggest gold will not come down anytime soon. Especially as the war in Israel is current.
TVC:GOLDLong
by xEthan
1
gold on the 1940$ The recent conflict in Palestine/Gaza appears to be tapering off, even though Israel's TA35 stock index is teetering on the edge of a potential downturn. This shift in the market has brought gold to the forefront as a reliable safe haven for investors, with its value consistently holding strong. This indicates that gold has become a preferred choice for many major investors, seeking stability in uncertain times. In addition to this, Israel's military force hasn't been able to fulfill their earlier commitments to enter Gaza via land routes. This has created a sense of uncertainty in the region. Interestingly, the performance of gold is signaling potential upcoming fluctuations in its value. We'll continue to provide updates on this evolving situation.
OANDA:XAUUSDShort
by JORDAN-WALLSTREET
Gold Analysis of War impact.Upon research, here is the fundemental reasoning for my gold entries. I have placed an order at 1853.5 I think gold has not given up with with the push down as of yet. And I feel asif theres further to go. As far as the Israel and Palistine war is going: USA seem to already putting there nose in, sending warships over etc. This is only fustrating Hamas. Theres no doubt Hamas will not win this, Israel has the backup of many countries including an ally of NATO although not officaly apart. Weve seen the spike of gold from massive reserves being sold off. Golds hovering around the 50-60 area. Whats interesting to me from reading, is that what Saudi have to say. We know Saudi are a very powerful, oil rich country with massive gold reserves too (323 ton they hold). If they get involved we may see alot of market movement. For the good or bad i can not comment. Watch gold closely, probably better to look at trades before news is announced. But as this is war, and news is news, we cant predict. Just to put in perspective, Saudi have more gold than Bolivia, Finland, Cambodia, Belarus, UAE and Argentina together. But are still only at 16 in the world for holdings. If we look at Saudis oil reserves, they are No2 in the world. They’ve got 65.4 years of oil reserves stored, And produce a whopping 10.85 million barrels per day. That’s est. 1,725,150,000L per day. Crazy figures. Ill update this post with daily and weekly thoughts. In summary, I feel the war unfortunatley has further to go. This is only the start. Could this pump or dump gold? ... Time will tell Ethan
OANDA:XAUUSDShort
by xEthan
Market Update - September 29 2023 Bipartisan Group in Congress urges spot Bitcoin ETF approval as SEC punts: Bitcoin saw a mid-week bump as a bipartisan group of Congressmembers urged SEC chair Gensler to immediately approve a Bitcoin ETF. The SEC delayed a number of spot ETF application decisions as a US government shutdown looms. By the end of the week, bitcoin was trending higher, sitting above FWB:27K USD. MicroStrategy adds to its bitcoin coffers with purchases totalling ~$150 million: MicroStrategy, one of the largest bitcoin holders, bought 5,445 bitcoins for ~$147.3 million USD, at an average price around $27,053 USD. The purchases were made between August 1 and September 24. The company said it was considering buying even more. Leading NFT brand Pudgy Penguins to sell toys at Walmart: Pudgy Toys collection will be available in 2,000 Walmart stores across America. Each toy comes with a QR code, which once scanned gives the user access to the online virtual Pudgy World. Curve had a solid week as its founder closed out debt positions on Aave: Curve (CRV) rallied this week, trading up 17%, after Curve founder Michael Egorov paid off his entire debt position on the DeFi lending protocol Aave. ➡️ Read more here
GEMINI:BTCUSD
by Gemini
Gold Next Move ( High or Low ? )TVC:GOLD fell to near 7-month lows Thursday as traders pushed the yellow toward mid $1,800 levels in a decisive break from the $1,900-an-ounce support decimated in the prior session. Gold’s collapse below the $1,900 level has opened the door for technical selling towards the $1,870 region,” added Moya. :”If global bond yields are heading higher despite expectations that inflation will come down, current market positioning could allow a gold plunge towards the $1,800 region. So my opinion about short term , the yellow metal OANDA:XAUUSD will retest to 1887 zone then we will see if he breaks the resistance line or reject it .
TVC:GOLDLong
by ZumixFX
4