Pivot Points
Gold is in the Bearish Direction after Formation ManipulationHello Traders
In This Chart GOLD HOURLY Forex Forecast By FOREX PLANET
today Gold analysis 👆
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🟢What is The Next Opportunity on GOLD Market
🟢how to Enter to the Valid Entry With Assurance Profit
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EURUSD Multi Timeframe Analysis 18.10.202415m Swing, Internal and Fractal Bearish and we are now testing fractal supply. We might get a bearish momentum to kick in from here or price could target deeper levels to mitigate premium supply zone
For shorts it makes sense to follow Bearish order flow.
For longs ideal to wait 4H Internal ( or 15m Swing ) to shift bullish
I have already mentioned couple of times that we could get fake breaks as we are in unmitigated daily demand range now and we already had fake bullish 4H ChoCHs. This could be to target unmitigated supply zones. Wait for strong bullish momentum to play longs.
Decline in EURUSD
Yesterday, as expected, the ECB lowered the interest rate, and EURUSD tested the next support level.
For now, it’s holding above 1,0800 with no potential for new trades.
When you don't have a reason to make a trade, don’t force one—look at other instruments instead.
For buying EUR, consider EURJPY.
For selling EUR, consider EURAUD.
EUR/AUD Testing Support Below 1-Year PivotHello,
FX:EURAUD remains bullish in the long term; however, the price is currently below the 1-year pivot point (PP) and is testing support levels, though the extent of this decline is still somewhat uncertain. At present, the price is expected to drop to around 1.605445 or 1.600245. The initial 1-year support at 1.603541 has, so far, been sufficient to push the price upward temporarily.
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EUR/CHF Eyes Bullish Reversal at 1M PivotHello,
OANDA:EURCHF continues to encourage buyers to maintain long positions. The 1-month pivot point (1M PP) has served as resistance, and additional support tests are likely unless the price breaks and holds above the 1M PP. If that happens, we could see a reversal into bullish territory.
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WTI Rebounds but Bearish Outlook PersistsHello,
BLACKBULL:WTI has gained some upward momentum after rebounding off the 1M pivot point (PP), but the overall outlook remains bearish. It's important to take calculated risks. Currently, the 1M and 1D pivot points have acted as support, and if the 1M PP continues to hold, we could see further upside potential.
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Brent Finds Support, Caution Amid Bearish TrendHello,
BLACKBULL:BRENT appears to have found support at the 1M pivot point and is now heading toward the 1W pivot point. However, caution is warranted as the overall trend for Brent remains bearish. Currently, the price is at a neutral level from a long-term perspective.
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USD/CHF looks set to leap out the gatesUSD/CHF has performed well since its latest rebound from 0.84, a level some analysts suspect prompts the SNB to intervene when prices cross beneath it. but unlike USD/JPY, its rally hasn't stalled near a big round number such as 150 or look overextended.
The daily RSI (14) is confirming the rally and not in the overbought zone. The USD-CHF 2-year spread has accelerated higher ahead of prices to suggest upside pressure could be building for USD/CHF.
And a solid bullish trend is apparent on the 1-hour chart, prices are consolidating above the weekly R1 pivot point and trades around the 20-hour EMA. on balance volume (OBV) is also confirming the bullish trend on the 1-hour chart.
Bulls could seek dips towards the weekly R1 pivot or enter around current levels in anticipation of an upside break of its consolidation. The weekly R1 makes a viable upside target, a break above which brings the R3 into focus around 0.8690.
AUD/JPY looks on the verge of a breakoutAnother strong employment report for Australia helped the Aussie dollar gain traction on Thursday. And with Wall Street stocks remaining supported amid a weak-yen environment, AUD/JPY could be nearing a bullish breakout.
AUD/JPY found support at the 200-day SMA on Wednesday and formed a bullish engulfing candle on Thursday. The 2-year AU-JP yield differential also appears set for another leg higher, which could help AUD/JPY break out of a potential bull flag.
The 102 handle sits near the monthly R1 pivot, making it an interim target. A break above which brings the June low and 103 handle into focus.
- Bulls could seek dips to the 100 handle and target the 102 and 103 handles
- A downside risk for this pair is if we enter a period of risk off
- A break beneath Wednesday's low invalidates the bullish bias
MS
WTI crude hints at cheeky bounce to $72WTI has fallen over 11% in seven days, and the loss of momentum around $70 could appeal to bullish swing traders. We're not looking for anything heroic here given the mixed signals on futures positioning, but it might be able to deliver a cheeky bounce higher over the near term.
MS.
GER30 Eyes New Highs with Key Support TestsHello,
FX:GER30 continues to impress, reaching new highs with a solid upward trend. We now expect support tests around the 1M PP level. So far, we've seen support at the 1D PP, but it remains to be seen if that will shift moving forward. If the price crosses and holds above 19,643.5565, the next upside target is 19,764.4548. Should it break and hold above 19,764.4548, we could see a move towards 20,127.1495.
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