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Eu Price action analysis coming into the London session Good Morning traders! Hope you are well. Todays forecast will be done on the 1hr timeframe to give more information. We are still in a over uptrend/buying range, with liquidity built above current PA. Over the past week price has retraced down and is now within the discount of the buy range, this offers great opportunity to go long. As always we look left for a range to mitigate. We can see one very obvious range this is marked in green-and its best seen on the 5minute TF. I will be looking for a sweep of the Asian lows and a trend change on the lower TF before entering long but price is shaping up nicely. One thing to note is that NFP is coming up so I will be more cautious getting closer to that time.
Long
by EnvisionEJ
EURUSD before NFP! What to expect?Today we are waiting for one of the most important economic news to come out. This is NFP for July. It is published together with other employment news and it has a big effect on the market. That's why we expect more volatility in the moment of publishing. Technically we're looking at possible rise in price during the news. That doesn't mean you should be buying now. Before and during the news we could actually see a drop in price. However if there is a reversal after the news, then we will be looking for entry. Another confirmation for an upside move will be market breaking above 1,1860. The final target is 1,1940. Do not buy before there is a reversal signal! On a downside impulse and price going below 1,1770 the buying opportunity isn't valid anymore! Follow how this setup will develop in our daily analysis here! Support us by follow, like and leave a comment down below!
Long
by ForexTrendline
26
Non- Farm Payroll Front RunAAII Bullish sentiment Indicator @ All Time Highs. ROC irrational optimism abounds - while sentiment remains extremely negative @ 38%. Housing Prices remain in an extraordinary Bubble with the 10yr approaching 1% from YCC. The ES SPY SPX Trend SLOPE is increasing. USDX appears to be supportive ~ 92. A weak US DX will shove assets higher within the Negative DX Trend. A clear structure of the resumption of Down Trend as the Long DX Trade which Specs chased is failing. FX Pairs have clear bias to Higher DX, outsized, but not extreme. Technical Structures across FX remain DX Bearish. Yields are telling us Equities would move higher and yet the expectations for the move higher was not met. _________________________________________________________________ *** Divergences continue to expand to Negative Extremes. NFP will be front run, Claims have been declining. August 6th may provide the Catalyst for Bulls, then again Delta is beginning to show large gains in New Cases among the Vaccinated. The Market remains extreme, Caution warranted. We remain Neutral into NFP.
FRED:NPPTTL
by HK_L61
1
Gold bulls' revenge will be sweet (Update 4)Hello traders and welcome to the August NFP-week. It promises to be a volatile one. In a word, the Oxford English Dictionary defines "august" as "impressive": as has historically been the month of August for Gold. Last Saturday the Chinese PMI fell below 50.5, the lowest reading since the COVID-outbreak of February 2020. They say China is the factory of the world, and the reading is not a contraction but clearly the 2nd biggest world economy is slowing down. Next to this the US PMI released yesterday missed forecasts and came in at 59.5. The US10Y yields made a fresh move lower this week and closed the day below 1.18 yesterday. These are all worrying signs for gold bears. Currently gold is being twisted and turned, pushed and pulled between two main fundamentals. First of all, the skyrocketing inflation and the slowing down of the economy. On the other hand the risk-on mood in equities is making gold unattractive for investors and traders to enter the goldmarket and some Hawkish FOMC members are spilling the beans for gold by their comments in the media. Everytime gold makes a nice bullish move, some FOMC member comes and spoils the bullish party, which makes investors wary of holding positions. The volumes are declining, positions are being closed (COT-report showed longs & shorts closed last week). Last week we had an impulse breakout move from 1790-1833 thanks to Uncle Powell, but gold lost most of its gains on the last day of the month. This was triggered by end of month outflows and remarks by other FOMC members that tapering should start asap this year. Nevertheless, gold remains supported by 1805 and we closed the week&month above all main H4 moving averages. Bulls entered the ring again from the golden fibo (0.382) on Monday and closed the day above the daily 21 EMA. Also we have a full house golden cross on H1, H4, Daily, Weekly & Monthly timeframe now. All these timeframes are operating in a golden cross formation currently, which strengthens my bullish view. The double top on 1833 is worrying from a technical point of view, and this needs to be taken out by the gold bulls for bigger bulls entering the market. As I mentioned in my previous weekly view, the NFP should be the bullish trigger for gold, until that time we remain rangebound with a bullish undertone and I expect gold to reach 1845 (and if we are lucky 1860) by end of this week. As long as the bull channel holds (which the lower band is around 1799 now) I remain bullish on gold and I will be buying dips. Love and hugs, Cesaro
OANDA:XAUUSDLong
by CesaroPelucci
1
Gold bulls' revenge will be sweet (Update 3)Hi guys, After a well-deserved holiday, a week of acclimatising at home and adapting to current market dynamics, it's time to make some serious bucks from the market. First things first, I want to thank all my followers for following my trading adventure for over a year now. Now onto the meat and potatoes. What is happening in the market? It seems the market is losing it and all correlations that have been in place for months (if not years) are thrown out of the window. Silver up/gold down and vice versa, dollar up/gold up, US10Y down/dollar up. Totally irrational behaviour and when this happens, you know shit is about to hit the fan. This should not surprise anyone, because everything looks like a big bubble that is about to burst. The housing market, commodity prices, equities and other asset classes are trading at extremely high levels which have not seen before. Many respected analysts such as Jeremy Grantham (who has a proven trackrecord on bubble recognition) have voiced their deepest concerns about current market conditions and dynamics. With annualized monthly inflation running as high as 11%, real growth and the jobmarket not looking to improve, the stagflation ghost of the 1970-1980's is just around the corner. Stagflation is the magic word that will make gold propel to higher grounds and it is only since a week or two that analysts dare to pronounce the word in the respected media outlets. But before we see strong bullish PA on gold, we still have some time to kill. FOMC is planned on Wednesday and this is a key risk event for the market and gold in particular. After the big sell-off of June, where gold tumled more than $150, Powell turned dovish in front of the Senate and reiterated that it is too soon to raise interest rates and start tapering. I do not expect Powell to turn away from the script or give a timeline next Wednesday on tapering, but I do expect we will see a $20-$30 sell-off towards $1780-$1785, providing gold bulls with a fresh new entry for $1900+. August will be a hot summer month for precious metals in the lead-up to the Jackson Hole Symposium that is planned in the last week of August, and I am expecting NFP being the trigger for the bull rally. It is yet to be seen what will happen in Q4, but I am expecting some profit taking towards the yearly Christmas rally in December where I expect gold to make new all time highs in Q1 2022. I can not repeat enough that current market conditions and dynamics are extremely bullish for gold and buying on dips is the way to go, don't get noised out by the small bearish candles you see. You do not want to be on the wrong side when gold starts another $200 bull rally. COT-report is bullish and large speculators are losing their shorts and adding buys for 4 weeks in a row. Good luck and may the blue pips be on your side. Love and hugs, Cesaro
OANDA:XAUUSDLong
by CesaroPelucci
4
Market inflection PointM2 Money supply / DJI Nearing an area of support a fall through of the support line and we could see selling exhaustion that would cause the DJI to melt up. Where a boost in buying would see the DJI melt down. What could cause M2 to either be peddle to the medal or taking the foot off the gas.? Inflation, lets see how the fed can handle inflation. We have already had statements from non voting fed member one even saying " America can not afford another housing boom bust cycle." Well big boy you got the printer fire that thing up. New dollars hit the market rates go lower and boom, they got the housing market pumping all time highs. Conversely we could see the markets correct by the fed either pull back on the money printing and pausing we could see the M2/DJI rise.
FRED:WM2NSLong
by RobinhoodFX
XAUUSD (GOLD), Potential Big Drop from NFPMoments away from NFP. Economists expect the data to show that the economy added more than 575,000 jobs in March as the country continued to open. This will be a better figure than the 465,000 jobs that were created in February On the technical side of things, we can see that price is approaching a key resistance near 1790$ and is looking to be losing its bull momentum. We may see a strong wick towards the resistance and psychological level at 1800$ and then a slide towards next major support at 1730$ Should price form a break above 1800, then the selling setup is no longer valid
OANDA:XAUUSDShort
by IAmDavidX
6
Solana - New TA Update!🎢Here we have Solana. Two price forecasts have been identified with the green arrows on the chart. 20 USD represents a strong support level with long wicks to the downside. Let's see where price heads! Solana is a crypto startup that builds and develops crypto apps for decentralized apps and marketplaces. The startup was founded in 2018 and is based in San Francisco, California. In other news, we have NFP release today. Be careful trading the Forex market.
Long
by Jal121
NFP Analytical Forecast : NFP Analytical Forecast : * NON-FARM PAYROLLS Forecast: 675K Previous: 559K * UNEMPLOYMENT RATE Forecast: 5.7% Previous: 5.8% * AVERAGE HOURLY EARNINGS Forecast: 0.3% Previous: 0.5% It is also important to pay attention to these three indicators with the NFP release. That is, NON-FARM PAYROLLS, AVERAGE HOURLY EARNINGS, and UNEMPLOYMENT RATE The indicators were lower than previously thought. There are various reasons for this (like covid119, ...). But this time it was completely different. Here all three indicators must be taken into account: NON-FARM PAYROLLS, AVERAGE HOURLY EARNINGS, and UNEMPLOYMENT RATE As soon as the data comes out, the predictions should be compared with the actual numbers. If the actual figures of non-farm payrolls and average hourly earnings are higher than the expectations, and the unemployment rate lower, the USD Is will strengthened . If it goes against that, the US dollar will weaken. Should be considered. The above Prediction is how I think. This can be right or wrong. I do not mention following my predictions. Therefore, I am not responsible for it.
by DhammikaP
EURJPY analysis | Entry before the NFPWe are expecting the publishing of Non Farm Payrolls today. This is a very important news which will cause some big moves. Be careful with any positions that you open prior to that! We found an opportunity on EURJPY. This pair won't be affected by the USD, but the EURUSD and USDJPY instead. No matter if we see a negative or positive news later on today we are expecting higher values on EURJPY! Currently we have an uptrend on M30 which is also confirmed by the higher timeframes and that's why we expect market reaching 132,75. Once price gets there we will have another look at the setup. Follow us for more specific opportunities!
Long
by ForexTrendline
7