Get started

Community ideas

HSI Bearish Outlook with Potential Bounce at Key Support LevelHSI currently looks bearish, likely heading toward the significant support at 18,300 HKD—a level from which we historically saw a strong rally up to 30,400 HKD, aligning with the triangle pattern target. Upon reaching 18,300, there’s about a 90% chance of a bounce. A bearish divergence also signals potential short-term downside pressure before a possible reversal. Disclaimer: I'm not a financial advisor; please do your own research before making any investment decisions.
HSI:HSI
by MarketPax
GBPUSD - UK is on the verge of an important economic decisioThe GBPUSD currency pair is located between EMA200 and EMA50 in the 4H timeframe and is moving in its medium-term bullish channel. In case of correction due to the release of today's economic data, we can see demand zone and buy within zone with appropriate risk reward. If the upward trend continues, this currency pair can be sold within the specified supply zones The UK budget is set to be announced today, Wednesday, October 30, 2024. Analysts at Commerzbank predict that if the budget combines austerity measures with long-term investment optimism, it could positively impact the pound and bolster the UK’s long-term growth potential. The government faces the challenge of stimulating investment to address years of underfunding in the public sector. The difficulty lies in the fact that the UK has been spending beyond its income in recent years, which has complicated its financial situation. Meanwhile, prices in UK stores have fallen at their fastest rate in over three years. However, the budget announcement by Finance Minister Rachel Reeves could help inflation rebound. The annual store price index has decreased to 0.8%, marking the weakest level since August 2021. Food prices have risen by 1.9%, and clothing prices have also increased for the first time since January. Data shows that consumer inflation fell to 1.9% in September. On the other hand, in the U.S., Professor Jeremy Siegel from the Wharton School believes the Federal Reserve may choose to hold rates steady next week if the October non-farm payroll (NFP) report proves very strong. Siegel notes that if the labor market report is robust, many FOMC members may conclude that it’s time to pause. He also predicts that the rate-cutting cycle will include three to four rate reductions, but long-term rates are likely to remain high. In August, Siegel advocated for an emergency 75 basis-point rate cut by the Fed.
Long
by Ali_PSND
EUR/USD 📈 EUR/USD 4-Hours Chart Analysis 📈 Technical Analysis: Trend Patterns: The overall trend is downward as indicated by the price consistently staying below EMA 200 and EMA 50. Support Levels: Around 1.0780 USD (recent lows). Resistance Levels: Around 1.0860 USD (recent highs). Momentum: The Squeeze Momentum Indicator shows a shift from red to green bars, indicating a potential change in momentum from bearish to bullish. Fundamental Analysis: US Dollar Strength: The US Dollar has been advancing due to caution ahead of first-tier releases and the upcoming US presidential election. US Economic Data: Recent data includes an unexpected Goods Trade Balance deficit of $108.2 billion in September and a rise in the Consumer Confidence Index to 99.5 in October. US Employment Data: Disappointing JOLTS Job Openings data has helped EUR/USD find support. Trade Plan: Entry Zone: Consider entering a long position if the price breaks above the resistance level of 1.0860 USD with strong momentum. Stop-Loss (SL): 1.0780 Take Profit (TP): 1.0930 Disclaimer: This trade plan is for informational purposes only.
Long
by azizy73
The USD/JPY exchange rate has increased, but not significantly.Hello everyone, today I’ll be updating you on the USD/JPY exchange rate as of October 30, 2024. The USD/JPY rate today is approximately 153.2 JPY to 1 USD. This rate reflects a slight increase compared to recent days and has fluctuated within the range of 151.6 to 153.8 JPY per USD over the past week. The current increase in the USD/JPY rate is mainly driven by several key factors related to monetary policy and macroeconomic conditions in both the United States and Japan. The Bank of Japan (BoJ) has continued its ultra-low interest rate policy, contrasting with other major central banks that have raised rates to curb inflation. This divergence has weakened the yen against the U.S. dollar, especially as the U.S. Federal Reserve (Fed) maintains high interest rates. Recently, the USD/JPY exchange rate has been relatively stable but could fluctuate in the short term, with a possible downward trend depending on the economic conditions in both countries, particularly interest rate decisions by the Bank of Japan and the U.S. Federal Reserve.
by Raanana
GBPUSD: Confirmed Bullish ReversalThe GBPUSD appears to be showing a bullish trend on both daily and intraday charts. The daily chart shows a breakout of a resistance line in a wide horizontal channel, as well as a reversal in the trend. On the 4-hour chart, there is a retest of a previously broken resistance line in the channel, followed by a strong bullish movement and a change in character.(CHoCH) I anticipate the market will continue to rise, with the next resistance level at 1.3048.
Long
by linofx1
Anant Raj - Long Setup (Swing Trade)Anant Raj is approaching a critical zone for a potential long trade setup. Here’s the plan: Entry Zone: 686.30 Entry Price: Once a 15-minute candle breaks above 686.30 , the high of that candle will confirm the entry. Target: 788.7 Stop Loss: 635.10 (Triggered if a daily candle closes below this level) The price is testing the entry zone around 686.30 , and a confirmed breakout could lead to a potential move towards the target of 788.7 . The stop loss is well-defined at 635.10 , providing a good risk-reward ratio for this trade. Disclaimer: This post is for educational purposes only and is not financial advice. Always manage your risk and trade responsibly.
NSE:ANANTRAJLong
by gupshupblog
Topside wicks, sagging momentum suggests AUD/JPY break may stickAUD/JPY looks primed for downside. The price has broken the uptrend it's been sitting in since late September. RSI (14) is trending lower with the bearish signal confirmed by MACD. And one look at the topside wicks above 101.00 suggests sellers are lurking and unwilling to budge. If the price manages to close beneath the uptrend, you could sell with a stop above for protection. To make the trade stack up from a risk-reward perspective, the 50-day moving average or 98.04 are potential targets. Good luck! DS
Short
by FOREXcom
Nifty is stuck in a RangeAlthough BN showing Bullishness yesterday, Nifty is still stuck in a range. While people might think that some kind of triple bottom is formed, I will look to play it on a weekly basis. For this week's expiry, my view is that Nifty is stuck in the range between 24,000 on the downside and 24,800 on the upside. I took straddle position yesterday afternoon and will look to carry it forward till expiry looking to pocket some premiums. Sold 07th Nov 23800 PE & 07th Nov 24850 CE Other than this, if I see the scope of any intraday action, then I might take that as well. PS - Not a recommendation. It is advisable to do due diligence before taking trades.
NSE:NIFTY
by Sky_Tracer
PLRT Technical analysis for Oct. 30, 2024Price Action and Support/Resistance Levels Support Levels: $44.04: This level has been tested multiple times recently, showing strength as a near-term support. $42.06: Major support, which has been previously tested, could serve as a strong base if prices drop below the upper levels. Resistance Levels: $45.22 to $45.50: This zone seems to be a significant resistance area where price has recently consolidated and tested several times. $45.75: An immediate resistance level with potential for a breakout. Entry/Exit Points Scalping: Long Entry: A breakout above $45.50 with confirmation (high volume and candle close above resistance) could provide a quick scalping opportunity. Target levels would be $45.75 and $46.00. Short Entry: A rejection near $45.22-$45.50 with decreasing volume could signal a short opportunity. Exit points could be $44.50 and $44.04. Swing Trading: Long Entry: If price holds above $44.04 and breaks out above $45.50, a swing trade to the $46.50-$47.00 zone could be considered. Short Entry: If price breaks below $44.04 with momentum, a swing short targeting $43.00 or even $42.06 is a possibility. Expected Direction Given the consolidation near the upper resistance levels, PLTR may attempt to push higher if it clears $45.50. However, failure to break out could lead to a retracement toward support levels, especially if broader market sentiment is negative. Disclaimer This analysis is for informational purposes only and not financial advice. Trading stocks carries risk, and past performance is not indicative of future results. Always conduct thorough research and consult a financial advisor before trading.
NYSE:PLTR
by BullBear-Insights