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Parallel Channel

EURUSD Bulls Eyeing FOMC–Will Powell’s Dovish Tone Fuel a Rally?As we approach the much-anticipated FOMC rate decision and Powell’s press conference , market sentiment is shifting, and EURUSD ( FX:EURUSD ) traders are closely watching for clues on the Federal Reserve’s next move . With recent economic data pointing to signs of slowing growth and cooling inflation, the Fed might adopt a more dovish tone , fueling further upside for EURUSD . Key Factors Driving the Bullish Outlook : Inflation & Economic Data : CPI and PPI data indicate a gradual cooling of inflation, which strengthens the case for a potential rate cut later this year. If Powell acknowledges this shift, it could weigh on the dollar. Market Pricing of Rate Cuts : Investors are already pricing in multiple Fed rate cuts for 2024. A dovish Powell could accelerate these expectations, weakening USD and pushing the EURUSD higher. ------------------------------------------------------------------ Now let's take a look at the EURUSD chart on the 2-hour time frame . EURUSD is moving near the Resistance zone($1.0983-$1.0916) and Yearly Resistance(1) . Regarding Elliott Wave theory , it seems that EURUSD has managed to complete the main wave 4 . The structure of the main wave 4 is the Double Three Correction(WXY) . The main wave 5 is likely to complete near the upper line of the ascending channel(possible) and Monthly Resistance(4) . I expect EURUSD to rise in the coming hours to the targets I have indicated on the chart, although the Federal Reserve Conference could create long shadows , but I think the supply and demand zones will still work but still pay more attention to money management today . Note: If EURUSD can break below the Potential Reversal Zone(PRZ) , there is a possibility of further decline in EURUSD. Please respect each other's ideas and express them politely if you agree or disagree. Euro/U.S. Dollar Analyze (EURUSD), 2-hour time frame. Be sure to follow the updated ideas. Do not forget to put a Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
3
EURO - Price can decline to support level and then bounce upHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some time ago price started to grow inside a rising channel, where it at once bounced down from $1.0415 level. Then it turned around and rose to the resistance line of the channel in a short time, but soon fell back, making a gap also. Euro rose to $1.0415 level and broke it, after which some time traded near it and then made an upward impulse. Price exited from a rising channel and reached $1.0825 level, broke it, and started to grow inside another channel. In this channel, price reached resistance line, after which it corrected to support level and then continued to grow. So, in my opinion, Euro can decline to support level and then it bounce up to $1.1050 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
11
MarketBreakdown | GOLD, GBPUSD, DOLLAR INDEX, EURAUD Here are the updates & outlook for multiple instruments in my watch list. 1️⃣ #GOLD XAUUSD 1H time frame 🥇 Earlier on Sunday, I shared a completed head & shoulders pattern on Gold. Its neckline was respected and the price bounced from that, setting a new historic high. That same neckline is now a perfect base for a new head & shoulders pattern. The plan remains the same, if the price violates and closes below that a correctional movement will be expected. 2️⃣ #GBPUSD daily time frame 🇬🇧🇺🇸 GBPUSD looks weak and shows a clear signs of a strong overbought state. We see a breakout attempt of a rising parallel channel at the moment. Daily candle close below that will trigger a correctional movement with a high probability. 3️⃣ DOLLAR INDEX #DXY daily time frame 💵 Dollar Index shows clear strength after 2 recent US fundamental releases. The last obstacle for the bulls is the underlined blue resistance, its breakout and a daily candle close above will trigger more growth. 4️⃣ #EURAUD daily time frame 🇪🇺🇦🇺 It feels like the pair is returning to a global bullish trend. The price has recently retraced and perfectly respected the underlined support. With a high probability, we will see a test of a current high soon. Do you agree with my market breakdown? ❤️Please, support my work with like, thank you!❤️ ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDShort
by VasilyTrader
1
EUR/NZD Breaks Channel Support, Extending Downtrend The EUR/NZD pair has confirmed a bearish breakout, breaking below the key ascending channel support, signaling further downside momentum. This breakdown indicates that selling pressure is increasing, with potential downside targets aligning with key support zones. 🔹 Technical Breakdown: ✔️ Channel Breakout: The pair has decisively broken below the lower boundary of its rising channel. ✔️ Bearish Confirmation: A retest of the broken support as resistance would further validate the downward trend. ✔️ Next Key Levels: Traders are watching for support around as potential downside targets. 🔻 Potential Scenarios: TP1: 1.87000 TP2: 1.86500 If bearish momentum continues, the pair may test lower support zones. A failed breakdown and reclaim of the channel could signal a reversal.
Short
by mdms102
Silver on the Brink: Will Buyers Step In?Silver is retracing alongside gold and other assets, but is this a buying opportunity? Key support levels to watch: $32.14, aligning with silver’s sensitivity to gold, and $31.50, the lower range of the current channel. Fundamentals remain strong, with trade wars and geopolitical tensions supporting long-term bullish momentum. Where do you see silver heading next? Share your thoughts below! This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information
THINKMARKETS:XAGUSD
by ThinkMarkets
GOLD → Fading out before the news. Possible long-squeezeFX:XAUUSD continues its bullish trend, but locally, the movement is in a very narrow channel (wedge). To form a potential for further movement, the price may form a long-squeeze before or at the time of news... Fundamentally, gold remains a bullish asset due to the Fed's rate cut forecasts and economic risks associated with Trump's tariff policy. Gold hit a new high on Wednesday after the Fed reiterated plans to cut rates twice this year, raised its inflation forecast and worsened growth and employment estimates.The price is further supported by escalating geopolitical tensions in the Middle East, with Israel announcing the resumption of ground operations in Gaza. Gold is forming a bull market. Before further growth (before the news) the price may enter the liquidity zone (fvg, 3028, 3024), after which it will continue to grow. Dollar enters local correction before the news, which creates pressure on gold Resistance levels: 3046, 3051, 3056 Support levels: 3038, 3030, 3024 Price is forming a retest of the wedge support, which increases the chances of a breakdown. If the support fails to hold, the price may go down to the above support before rising further. But! If gold bounces from 3038 and consolidates above 3044, the growth will continue without a deep pullback Regards R. Linda!
FX:XAUUSDLong
by RLinda
23
Charting the Path Forward: Key Levels to WatchPrevious Analysis: Successful Bullish Breakout In our previous analysis, we identified a Falling Wedge pattern accompanied by bullish divergence, forecasting a breakout above 147.807. The price hit our target, confirming the bullish momentum and reaching key Fibonacci levels. What’s Next: Upon analyzing the chart, we observe that price has found support at 147.535 after a pullback during the American session. We anticipate the price to reach our first target, and after consolidation and a possible pullback, we expect to hit our second target near the upper line of the channel. However, if the price declines from the first target and breaches support at 147.535, the next key support level is at 146.306. Remember to follow your risk management strategies to protect your capital.
Long
by SpicyPips
GOLD → Consolidation ahead of Fed rate meeting...FX:XAUUSD goes into consolidation 3038 - 3024 before the news - Fed rate meeting. The situation is generally predictable, but gold is reacting to rising geopolitical risks. Gold is stabilizing before the Fed decision , markets are waiting for the data. The regulator is expected to keep rates, but Powell's forecasts will determine further dynamics. “Hawkish” tone of the Fed may lead to the strengthening of the dollar and gold correction. “Dovish” signals about economic risks will support the growth of metal prices. Geopolitical tensions and Trump's tariffs continue to have an impact.The market is preparing for high volatility on the background of the Fed's decision and events in the world Resistance levels: 2038, 2045 Support levels: 3024, 3015, 3004.9 Several scenarios can be considered for trading: Breakdown of resistance 3038 - 3045, consolidation of the price above the level with subsequent growth to 3050 - 3060. Or wait for the reaction to the news and with a possible breakdown of support to look for strong levels to trade a false breakdown, for example 3024, 3015, 3005. Regards R. Linda!
FX:XAUUSDLong
by RLinda
19
USDJPY → Resistance retest (wedge) before the Fed meetingFX:USDJPY is forming a correction to trend resistance as part of the dollar index consolidation. An interesting situation is forming which could be a continuation of the downtrend. Fundamentally, today is an important day. The FED interest rate meeting is ahead. Traders are waiting, the dollar is consolidating at this time. Most likely the rate will remain unchanged, but in this key everyone is interested in Powell's comments on monetary policy and their future actions. USDJPY at this time is forming a correction to the bearish trend resistance, before the news the currency pair may test the resistance conglomerate: a wedge, 0.79 fibo, or an orderblock located outside the channel Resistance levels: 150.16, 150.95 Support levels: 148.92 False breakout of the resistance zone can provoke a fall, as well as breakdown of the support of the “wedge” with the subsequent consolidation of the price in the selling zone. The price may test the zone of interest at 147.6, 146.54. Regards R. Linda!
Short
by RLinda
4
USD/JPY 4H – Short Setup at Upper Trend Channel Projection.USD/JPY 4H – Short Setup at Upper Trend Channel Projection USD/JPY is currently trading within a well-defined descending channel. Price is approaching the upper trend channel projection, a key area derived from parallel structure analysis. While this level has not been tested multiple times, it aligns with the broader bearish trend, making it a potential rejection zone. If price fails to close above this projection on the 4H timeframe, a short position will be executed with a stop-loss above the recent highs. The initial target is the previous lows at 146.60, while the extended target is the lower trend channel trendline. Watching for confirmation before entry.
Short
by Norsefx
2
What is Gold Waiting For? Is This the ATH 3045? In our group, we secured profits in two rounds when gold hit an all-time high of $3045. Currently, we are still focusing on selling at $3040-$3045, as this is the liquidity grab zone for sellers. I believe we can still trade within the sideway range, and be cautious of the two liquidity sweep zones as I have marked in the image. Sell Liquidity 3040-3045: We can place Sell Limit orders in this area. Buy Liquidity 3020-3025: We can place Buy Limit orders in this area. The reason for this sideway phase of gold is that the market is awaiting the Fed meeting at 1:30 AM tomorrow, March 20th. After that, a strong trend will emerge. My plan is still leaning towards the Buy side, as the market is currently concerned about a potential economic recession in the US. Therefore, we can focus on making small profits during this sideway period and wait for the next upward wave. Thank you for your review, and I hope you'll stay longer by pressing Follow.
OANDA:XAUUSD
by RioNguyenCFD
Best GOLD XAUUSD Consolidation Trading Strategy Explained In article , you will learn how to identify and trade consolidation on Gold easily. I will share with you my consolidation trading strategy and a lot of useful XAUUSD trading tips. 1. How to Identify Consolidation In order to trade consolidation, you should learn to recognize that. The best and reliable way to spot consolidation is to analyse a price action. Consolidation is the state of the market when it STOPS updating higher highs & higher lows in a bullish trend OR lower lows & lower highs in a bearish trend. In other words, it is the situation when the market IS NOT trending. Most of the time, during such a period, the price forms a horizontal channel. Above is a perfect example of a consolidation on Gold chart on a daily. We see a horizontal parallel channel with multiple equal or almost equal highs and lows inside. For a correct trading of a consolidation, you should correctly underline its boundaries. Following the chart above, the upper boundary - the resistance, is based on the highest high and the highest candle close. The lowest candle close and the lowest low compose the lower boundary - the support. 2. What Consolidation Means Spotting the consolidating market, it is important to understand its meaning and the processes that happen inside. Consolidation signifies that the market found a fair value. Growth and bullish impulses occur because of the excess of demand on the market, while bearish moves happen because of the excess of supply. When supply and demand find a balance, sideways movements start . Look at the price movements on Gold above. First, the market was rising because of a strong buying pressure. Finally, the excess of buying interest was curbed by the sellers. The market started to trade with a sideways range and found the equilibrium At some moment, demand started to exceed the supply again and the consolidation was violated . The price updated the high and continued growth. Usually, the violation of the consolidation happens because of some fundamental event that makes the market participants reassess the value of the asset. At the same time, the institutional traders, the smart money accumulate their trading positions within the consolidation ranges. As the accumulation completes, they push the prices higher/lower, violating the consolidation. 3. How to Trade Consolidation Once you identified a consolidation on Gold, there are 2 strategies to trade it. The resistance of the consolidation provides a perfect zone to sell the market from. You simply put your stop loss above the resistance and your take profit should be the upper boundary of the support. That is the example of a long trade from support of the consolidation on Gold. The support of the sideways movement will be a safe zone to buy Gold from. Stop loss will lie below the support zone, take profit will be the lower boundary of the resistance. AS the price reached a take profit level and tested a resistance, that is a short trade from that. You can follow such a strategy till the price violates the consolidation and establishes a trend. The market may stay a very extended period of time in sideways, providing a lot of profitable trading opportunities. What I like about Gold consolidation trading is that the strategy is very straightforward and completely appropriate for beginners. It works on any time frame and can be used for intraday, swing trading and scalping ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDEducation
by VasilyTrader
4
Gold (XAU/USD) Breakout & Retest Trade Setup - Bullish Move!Gold (XAU/USD) has successfully broken out of the consolidation zone after a strong rally. The price action recently tested the previous resistance level, which is now acting as new support. Trade Setup: Entry: Price has retested the breakout zone and is showing signs of bullish momentum. Support: The previous resistance area (now turned support) is holding well. Stop Loss: Placed just below the support at $3,034.562 to manage risk. Target: A potential upside move towards the $3,055 zone, which aligns with the next key resistance level. This setup follows a breakout-retest continuation pattern, a classic technical strategy where price revisits a breakout level before resuming the trend. If bullish momentum continues, we can expect a move towards the projected target. 📌 Key Levels to Watch: Support: $3,034.562 Resistance/Target: $3,055 Current Price: $3,039.925 💡 Risk-to-Reward Ratio: Favorable, as the stop loss is placed strategically below support. ⚠️ Disclaimer : This is not financial advice. Always manage your risk and use proper risk management techniques. What are your thoughts on this setup? Will Gold push higher or face rejection? Let me know in the comments! 🚀💬
OANDA:XAUUSDLong
by ForexOptimizer
US100 Downtrend Analysis & Key LevelsAfter analysing the US100 chart, the index has been trading within a downtrend channel since Friday, February 21, 2025. After dropping to 19,131, it attempted a recovery but faced strong resistance at 19,957, leading to a decline. As the saying goes, “ Follow the trend—the trend is your friend. ” Given the ongoing downtrend, US100 may continue to decline toward the next strong support level at 18,489. Ensure you adhere to proper risk management for long-term success. Happy Trading
OANDA:NAS100USDShort
by SpicyPips
GBPAUD Wave Analysis – 18 March 2025- GBPAUD reversed from the support zone - Likely to rise to resistance level 2.060 GBPAUD currency pair recently reversed from the support area between the support level 2.0290 (former multi-month resistance from December) and the 38.2% Fibonacci correction of the upward impulse from February. The upward reversal from this support zone stopped the previous short-term ABC correction 4. Given the strong multi-month uptrend, GBPAUD currency pair can be expected to rise to the next resistance level 2.060 (which reversed the previous upward impulse wave 3).
Long
by FxProGlobal
GBPUSD Wave Analysis – 18 March 2025 - GBPUSD reversed from support zone - Likely to rise to resistance level 1.3050 GBPUSD currency pair recently reversed from the support zone between the support level 1.2900 and the upper trendline of the daily up channel from January. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing - which continued the active impulse wave (C). Given the strongly bullish sterling sentiment, GBPUSD currency pair can be expected to rise to the next resistance level 1.3050 (the former monthly high from November).
Long
by FxProGlobal
Euro will rebound from support area and continue to move upHello traders, I want share with you my opinion about Euro. This chart illustrates how the price entered an upward channel and immediately broke below the 1.0500 support level. After trading for some time within the buyer zone, it dropped to the support line. Following this move, the Euro reversed and started climbing, eventually reaching the 1.0500 level again, breaking above it, and making a retest. The price then continued to rise and later reached the current support level, which coincided with the support area and the channel's trend line, where it traded for a while. Soon after, the Euro broke through the 1.0805 level and remained within the support area for an extended period before climbing to 1.0945. At that point, it reversed and started declining. The Euro quickly dropped to the support line of the channel and then bounced back up. However, it recently fell again to the support line of the channel, where it has been gradually moving higher since. Given this setup, I expect the Euro to decline to the support area before rebounding and continuing its upward movement within the channel. Based on this, my TP is set at 1.1150. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
9