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EURUSD , mid week analysis Hi traders, I am very much excited to share my analysis of the EURUSD pair on the first week of November, I made this analysis after the FOMC meeting on 03 rd November 2022, EURO against the Dollar pair touches the 5 Weeks high on 27 th October at the closest price level of 1.1000, The bearish outlook continues right from the month’s end and it continues in the first week of November the first week is studded with heavy news releases around the globe, We did not see any change in the downward momentum even after FOMC releases, The dollar gains strength again with a 75 bps rate increase during the FOMC minutes, and Weekend also waiting for ISM Non-manufacturing PMI and NFP news release on Friday evening. Expected to see a further low and the price could travel down toward the 0.97000 zone, Technical analysis suggests that the coming days could be the good one for EURUSD, If the bulls take control on 0.97000, a Triple bottom pattern may form in EURUSD, which could push the price upwards, This analysis is only tentative not a confirmed one The last 45 days' movement clearly shows this pair respecting an upward channel and If we have a pattern confirmation too, then Bull may rage in this pair. Thank you traders for watching this The analysis only for Education purposes
by Akfx369
XAUUSD : Another Sell ??Update : +45 Pips so far The price has again reached the important supply range from $1657 to $1667! We have to see how the price will react to this level when the New York session starts, today is a very important day, so be careful with your trades , because today we will see an increase in the interest rate by the Federal Reserve! Follow me for more analysis & Feel free to ask any questions you have, I'm here to help. ⚠️ This Analysis will be updated ... 👤 Arman Shaban : @ArmanShabanTrading 📅 11.02.2022 ⚠️(DYOR) ❤️ If you apperciate my work , Please like and comment , It Keeps me motivated to do better ❤️
OANDA:XAUUSDShort
by ArmanShabanTrading
14
The week ahead - DXY (31 October 2022)Towards the end of last week, the DXY showed some recovery as it bounced from the 109.50 price area to retest the 111.00 price level. However, the DXY retraced to 110.66 to end the trading week. This will be a big week for the DXY, with the release of the decision of the FOMC regarding the Funds Rate, Statement, and the accompanying press conference due on Thursday. Rather than the interest rate decision, focus more on the forward guidance regarding the path of future rate decisions and the FOMC's view of economic performance. If the DXY fails to trade above the 111 price level early in the week, the DXY is likely to continue to slide and retest the support area of 110 and 109.30. Recent weakness in the US economic data had provided some doubt as to whether the FOMC will persist with its current aggressive path of rate hikes, hence the slide in the DXY. The FOMC is forecasted to increase by 75bps, taking interest rates to 4.00% at the upcoming meeting. This decision is likely to have been priced in already. At the last meeting, the DXY traded higher from the 111 price level, which started the climb toward the high of 114.77. This time, look for the DXY to bounce from the support area possibly toward the 112 resistance level Following the rates decision, on Friday, we'll have the release of key employment data for the US, the Non-Farm (NFP) employment change. The forecast is for a 200k change, from the previous 263k, with the unemployment rate expected to increase slightly to 3.6%. Depending on the reaction from the FOMC news, the NFP news event is likely to have little impact unless there is a significant surprise in the data release. (Stay tuned for further updates throughout the week)
TVC:DXYLong
by JinDao_Tai
2
8300 Minimum Pips reward for SWING TradersUS Dollar index has been in an overall BULLISH since double bottom chart formation formed at price level 90.00 and it will likely continue in same direction over the next couple of months painting a picture of a repeat of 01 Feb 1985 historical price action, leading the price to 164.50 target Consequently, that will play out if price will be able to Break the minor resistance yellow line at 120.50 giving a take away of about 8300 Pips over the next few months. Swing traders will pose for hopping on the pull backs as the trend continues higher
TVC:DXYLong
by Ejike_Odeh
USDJPYUJ Stacked in a Supply zone fore days. The zone holds in a solid way and everything will be clarified tomorrow during NFP. With a trendline break, I see a sell opportunity at the retest of Trendline and Supply zone. It is very possible to go for a stophunt at approximate levels of 145.9-146.2. So, in order to be safe I will lower my lots and at the same time I will increase the stop loss, with a profit targe at the demand zone and the previous trend line, In case this scenario takes place, it is good to take partials after the 142.5. Do not trade blindly and always follow Risk management. Good luck to everyone and I am waiting your feedback.
Short
by The_Forex_Path
The Bears tried but the Bulls PrevailedXAUUSD Weekly. On NFP day the bulls managed to push the price down by 345 pips which was roughly half of the total bullish move last week. However the bulls managed to break and close above the high of week 19 September. The bulls managed to take control of last week. We mentioned on Friday that the bears would be in better position if they closed below 1687.98 during the closing bell. Unfortunately, they only managed to have a close of 1695.
OANDA:XAUUSD
by TheTradingPulse
Sell NFP Setup 10/7/22 Decent WeekPatient with the news on the jobs numbers. Immediate drop on the news but it was positive. Being that it was, I decided to wait because there was an opportunity that it could have been a liquidity grab below 3720's equal low and a run for the buy side liquidity. Sold on news break and on times & sales response. Saw the order flow aim at the ask price and the follow through came in afterwards. Once near target 1, watched the buying come in near the low and looked for a new group of orders to come through on the ask and we saw it. Took off the entire trade at target 2 after an attempted partial closure, a mistake but, that for the moment sucks but oh well! The remaining targets are from the HTF, the 4H+FVG, so I made it to the FVG(H). Second pending order within the 5m-FVG at 3706.12 missed. Looked for a final tap on the low of the FVG(L) and didn't get it after the ask was hit again just below it. Good week, not a lot of trading, but finished up pretty well. Most of the moves happened after hours this week or just at a time that I wasn't in front of the screen. NFP data was positive but, this is implication that the Feds don't have to change their behavior and can extend their stance on monetary polices by a continued interest rate increase. We'll definitely need to focus on the CPI numbers next week when we get that data.
BLACKBULL:SPX500Short
by Cory4rex
GBPJPY - FUNDAMENTALS WITH SECHNICAL BIAS#GBPJPY - According to the GBPJPY analysis we gave the previous day, the GBPJPY UP SIDE WAVE went very well. The reason for that was, FUNDAMENTALLY JPY WRAK, GBP STRONG. And because the MARKET SENTIMENT is STRONG. XXXJPY has been BUYing very fast since last week. - JPY has become somewhat WEAK because VIX is slightly DOWN. Due to this, STOCKS and XXXJPY CURRENCY were slightly BUY. GBPJPY also became BUY because of that. But now there is a RISK OFF BIAS. So GJ can still be BUY. - Currently, GBPJPY LONG TERM can move up to the LEVEL of 186.85. Also, if GBPJPY STRUCTURE BRAKE, it can move up to 149.09 LEVEL. Therefore, attention should be paid to MARKET UPDATES and MARKET SENTIMENT.
by benny_marshall
1
DXY | GOLD | Stocks | Crypto ⚠️ Upcoming Risk Event NFP 40 min⏰🔖 Our Forecast 🔎 If US NFP today prints Nonfarm Payrolls bellow 127K Unemployment above 3.8% Average hourly earnings below 4.9% Then Expert 👇🏼 Gold 📈 DXY 📉 S&P500 📈 NZDUSD 📈 (hawkish RBNZ ) 🔎 If NFP prints Nonfarm Payrolls above 375K Unemployment below 3.5% Average hourly earnings above 5.3% Then Expert 👇🏼 Gold 📉 DXY 📈 S&P500 📉 AUDUSD 📉 ( dovish RBA ) ⚠️ Please Follow Money Management
TVC:DXY
by Currency_Analyst
XAUUSD - KOG REPORT - NFP!KOG Report – NFP This is our view for NFP today, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile and can cause aggressive swings in price. For today’s NFP Report we’re going to keep it simple. We will be taking aspects of the KOG Report which was published on Sunday and looking for the move we ideally wanted to complete. We will use the extreme key levels to look for reactions in price including the order regions. We have support at 1701-3 and resistance at 1715-18 which is just outside the immediate range. Remember, the move always comes after the event, let them move it to where they want to long or short it, wait for strong support/resistance and then test the level with your trade into your identified target. Scenario 1: If they push the price up into the higher resistance levels we will look for a reaction and possibly test the short trade into the lower levels of 1690 and below that 1680-70. This lower level is where we feel they could terminate the move and we may see a reaction and bounce. Scenario 2: If they push the price down, we will wait for that lower level of 1660-75 where we want to see it find support. Based on support here the long trade is a preferable hold to take up above 1730+. Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
12
USD/JPY closes above 145 - NFP now in focusUSD/JPY finally closed above 145 for the first time in 24 years. Given we saw the MOF (Ministry of Finance) intervene around 145.9 then the potential for the BOJ or MOF to jawbone (if not intervene) may be high. However, traders remain aware that it will take a coordinated intervention to turn this trend around, which is why prices simply drifted back to the highs when the MOF intervened in September. And until we see any sort of intervention, price action remains king. Take note that the MOF last intervened around 145.90, so maret may become twitchy the closer we get to that level. An inverted head and shoulders pattern has formed on the USD/JPY 1-hour chart, which projects a target around 146.2. With the dollar looking strong ahead of today's NFP report, perhaps we'll see another leg higher ahead of the key Nonfarm report. The trend remains bullish and we would consider bullish setups above the broken neckline, with the initial target being the highs around 145.35 and the daily R1 pivot.
Long
by CityIndex
The US dollar index (DXY) hints at a swing low ahead of NFPThe US dollar was the strongest major currency on Wednesday, supported by rising US yields and softer import/export data (which points to a softer global economy). And whilst the prices paid component of the ISM services PMI softened to a 20-month low of 68.8, it remains historically high relative to its long-term average of 59.8 - which suggests the aggressive Fed tightening is yet to make an impact on the inflationary forces of the robust services sector. The main economic event for the dollar this week is tomorrow's NFP report. There was some excitement that it may come in soft due to the notable fall in job openings (-9.8%), but ADP employment came in slight above expectations at 208k yesterday. As for the US dollar index (DXY) it is showing the potential for a swing low to form. As noted earlier this week, the bias was for a deeper pullback on the US dollar and to then look for evidence of a swing low. Given the RSI (2) moved below 10 (overbought) ahead of a bullish inside bar occurring above the 2002 highs, I suspect we are at or near a swing low for the dollar. This is also backed up by the fact US yields are also seemingly trying to print a swing low. And a strong NFP report tomorrow could help solidify this near-term bullish bias. The bias remains bullish above 109.27 (below the small consolidation prior to its breakout) and for a move towards 114.0.
TVC:DXYLong
by CityIndex
EUR/USD Resumes Decline And Slips Below 0.9800The EUR/USD pair retreated on Thursday as the U.S. dollar gained momentum on the back of risk aversion and higher U.S. bond yields. The European Central Bank's Monetary Policy Meeting Accounts revealed some "dovish" insights, which also weighed on the euro. At the time of writing, the EUR/USD pair is trading at the 0.9800 area, 0.8% below its opening price, having retreated from a daily high of 0.9926 and hit a low of 0.9788. The U.S. labor market showed some evidence of deterioration ahead of the government's nonfarm payrolls report. The Jobless Claims for the week that ended on September 30 increased to 219,000, above the market's expectations of 200,000. The nonfarm payrolls figures will give a better outlook on the current situation of the labor market. Economists expect a slowdown in U.S. job growth from August's 315,000 to 250,000 in September. If that's the case, the Fed may start to consider decelerating the pace of rate hikes. Across the pond, the ECB published the Monetary Policy Meeting Accounts, which showed some officials leaned towards a smaller hike of 50 bps in their last meeting. Additionally, the report remarked that the depreciating euro would increase inflationary pressures. Many officials called for the bank to act decisively now to prevent the need to hike at a more aggressive pace later. From a technical standpoint and according to the daily chart, the EUR/USD pair holds a short-term bearish perspective. The EUR/USD trades below its main moving averages, while its indicators fell into negative territory. The RSI has crossed its midline and points south, while the MACD printed a lower green bar, signaling bulls are losing momentum. The immediate support level for the EUR/USD is seen at the 0.9750 area, followed by the 0.9635 level, and then the cycle low at 0.9535. On the upside, the pair must regain the 20-day SMA, which stands at 0.9875. A break above the latter could pave the way to the 0.9900 zone and potentially parity.
by Alex_Boltyan_FXAnalyst
GBP/USD slides after Fitch's downgradeGBP/USD is down sharply today. In the North American session, GBP/USD is trading at 1.1150 down a massive 1.58%. The pound continues to exhibit sharp volatility, with swings of over 1% every day this week. The fallout surrounding Chancellor Kwarteng's ill-fated mini-budget just won't go away. After immense pressure, Kwarteng abolished the tax breaks for the top 1% earners in a humiliating U-turn that has badly damaged the credibility of the new government. The fiasco sent the pound to a record low and forced the Bank of England to step in after the bond market was close to crashing. On Wednesday, the Fitch ratings agency lowered its outlook for UK debt from "stable" to "negative", following a similar move by Standard & Poor's after the mini-budget. Fitch did maintain the UK's credit rating of AA-, but the lower outlook will not help Prime Minister Truss' beleaguered government. The pound was pummelled in September, losing 3.9%. The outlook for the pound does not look good, with soaring inflation and the new government's serious missteps after only a few weeks in office. Manufacturing PMI remained below 50, which indicates contraction. Today's Construction PMI rose to 52.3, up from 49.2, but much of the improvement was due to an easing in supply shortages, and new orders fell to their lowest level since May 2020. In the US, the spotlight will be on Friday's nonfarm payroll report. The reading is an important bellwether of the health of the US economy and can provide insights into the Federal Reserve's future rate policy. On Wednesday, the ADP employment report showed a slight improvement at 208,000, up from 185,000 (200,000 est.) The ADP release is not a reliable forecaster of the official NFP release, but ADP is now using a new methodology, which hopefully will improve its reliability. Non-farm payrolls are expected to decline to 250,000 in September, down from 315,000 in August. A reading that is well off the estimate could trigger volatility from the US dollar - a strong reading will raise expectations that the Fed will stay very aggressive, while a soft release could mean the Fed has to pivot earlier than it expected. GBP/USD is testing support at 1.1206. The next support line is at 1.1085 There is resistance at 1.1350 and 1.1486
by OANDA