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Safehaven

Gold will be Slave or Master❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 After breaking above the $2100 resistance, XAUUSD surged by 5%. How high can Gold climb? The marked red circle represents a significant resistance and overbought zone as it marks the intersection of: 1- $2250 round number. 2- Upper red trendline from weekly. 3- Upper blue trendline from daily. 🏹 Thus, the highlighted blue circle denotes a robust area to anticipate a potential reversal. And keep in mind: the bigger the impulse, the bigger the correction. Therefore, when Gold begins to trade lower, be prepared! 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
OANDA:XAUUSD
by TheSignalyst
3
GOLD - Wait For It ⏱Hello TradingView Family / Fellow Traders, On Daily: Left Chart GOLD has been bullish trading within the flat channel in blue and it is currently hovering around the upper bound. On M30: Right Chart 📈 For the bears to take over, we need a momentum candle close below the last major low highlighted in gray. 📉 Meanwhile, XAUUSD would be bullish short-term and can still trade higher to test the $2100. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
OANDA:XAUUSD
by TheSignalyst
3
Old But Gold 🥇Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 Gold has been overall bearish, trading within the falling wedge pattern in blue. At present, XAUUSD is undergoing a correction phase and it is currently approaching the upper blue trendline acting as a non-horizontal resistance. Moreover, it is retesting a strong resistance zone marked in green. 🏹 Thus, the highlighted blue circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper red trendline. 📚 As per my trading style: As #XAUUSD approaches the blue circle zone, I will be looking for bearish reversal setups (like a top bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
OANDA:XAUUSD
by TheSignalyst
3
GOLD was hyped?Many analysis came out last year that Gold will shoot up to 2200 since its last pump to 2150 area. But was it hyped for a reason? Or is it really the so-called demand-season? For me, Gold will forever be looking for a way up due to the following reasons: - Gold is always a good investment option: physical gold (i.e. gold bars, rings, luxury items) or traded gold - Semi-con industries requires Gold: microchips, ICs and such devices - Gold is one of the 'safe-havens' of investment (google it for more details) Fundamentally, Gold usually has huge demand during year-end as investors tend to convert funds to safe-havens (USD, Gold, Silver, and other commodities). Additionally, US dollar weakens for the final quarter of 2023 (political, military and economic reasons). However, on the technical perspective, a huge rejection was evident on Dec. 4, suggesting that if a resistance retest will be successful, it might fall deep. On my personal view, since there are looming news about war, nuclear threats, economic shifting, a possibility of recession, and Gold failing to break the resistance around 2080, I would look for SELL positions targeting 1950 in the short term while waiting for a possibility of a drop down to 1800 mid term. USD is still the king of safe-havens. Should a war broke-out to multiple countries, currencies and commodities (including Gold) would drop to an unbelievable levels; probably worst than Covid and Ukraine-Russia effect.
OANDA:XAUUSDShort
by SirWiggir
XAUUSD - Following The Gold🥇Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 Gold has been overall bullish, trading within the rising broadening wedge in blue. At present, Gold is undergoing a correction phase and it is currently approaching the lower blue trendline acting as a non-horizontal support. Moreover , it is retesting a strong support zone marked in green. 🏹 Thus, the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue trendline acting as a non-horizontal support. 📚 As per my trading style: As #Gold approaches the lower purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
OANDA:XAUUSDLong
by TheSignalyst
Bitcoin(BTC/USD) Daily Chart Analysis For Week of Feb 2, 2024Technical Analysis and Outlook: During this week's trading session, Bitcoin has been experiencing a very tight trading range. Its progress has been obstructed by our Mean Res 43200, which has been causing a significant block jam. However, the market is anticipating a strong push through the Inner Coin Rally 44200, propelling the prices towards Mean Res 47000. This move is expected to be followed by a retest of the completed Outer Coin Rally 47500, which would signify a noteworthy milestone for Bitcoin's upward momentum. In case of a downside, the coin may retest a Mean Sup 42000 before continuing its upward trend.
BITSTAMP:BTCUSD
by TradeSelecter
🔔🏄 Gold Goals Revised: Pending ATH @ $2300-$2700Being one of those instances were a few micro level invalidations reverberates throughout both short-term and long-term analysis, I've adjusted my Gold ( OANDA:XAUUSD ) wavemap a bit. On my last shared idea, I was under the impression that Gold would make a big stretch upwards through the middle range of the $2000s before meeting its next considerable resistance level however, re-checking the count from last year's bottom near $1620 I am led to believe differently. I have cancelled the last idea and shared this one under a new thread due to drastic differences in mid-micro wave expectations. It seemed that a XAU route to $17xx was off limits but with a likely correction soon to come, $1800 may be the minimally expected correction level, making it very possible that Gold could slip into the $178x-$179x range before finding its ground again. Some believe that a $3K ticket could come for XAUUSD in the years ahead, based on the technicals, I am doubtful of this outcome. Instead, considering the already developed internals of the pink wave structure, $2298-$2442 are very much within the expected range based on common fib levels. To also consider the length of the apparent Wave A move in yellow , if Wave C were to match this length, we could see a maximal price tag near $2696. The observed RSI divergence should continue to remain tru as commonly seen in Wave 5 (when compared to Wave 3). I suspect that the $2298-$2696 price tag could be reached between 2025 and 2026 though timing is always tricky to accurate gauge. Surf well :)
OANDA:XAUUSD
by DigitalSurfTrading
4
AUDCHF: Safe-Heaven Time After last week's joint military actions by the USA and UK against Houthi Rebels in the Red Sea, markets are exercising heightened caution amidst the potential for new conflicts to emerge. In such uncertain scenarios, safe-haven currencies like the Swiss Franc stand to benefit. Another pivotal factor supporting this notion is the recent elections in Taiwan, where the USA-backed candidate emerged victorious, indicating that the island may seek support from Washington against China's territorial claims, as hinted by President Xi in his New Year speech. Adding to the rationale is China's slower-than-expected recovery, underscored by last week's discouraging economic data on inflation. This suggests that the world's second-largest economy continues to grapple with challenges in its recovery process. From a technical analysis perspective: Entry is positioned at the previous support, now functioning as resistance. Stop Loss is set at 1 ATR (Average True Range) above the entry point. Take Profit is targeted at the next support level, maintaining a 1:2 Risk-Reward ratio. Stay tuned for more trades and analyses like this, and feel free to share your opinions in the comments below! 📈🤔
Short
by Elite_Forex
all that glitters is not gold 🥇Hello TradingView Family / Fellow Traders, 📌 Weekly: Left Chart From a long-term perspective, Gold appears to be confined within a range, currently nearing its upper boundary. As long as the 2100.0 resistance holds, the possibility of a bearish correction persists. Confirmation of a bearish reversal setup would depend on lower timeframes. 📌 H1 : Right Chart From a short-term perspective, the Gold market structure has been clean lately. Every time a low or high is broken, it signals a short-term trend reversal. If we follow the same logic, the bulls are currently in control. For the bears to take over, a break below the last low highlighted in red is needed. In this case, we anticipate a bearish movement till the 1985.0 demand zone. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
OANDA:XAUUSD
by TheSignalyst
A clear risk on event is taking placeI multiplied the less risky Dow and Spy while dividing it with a multiple of bio, the Russel and Ark. This shows a clear shooting star candle in development this month which should signal much greater future gains in higher risk stocks and an end to this pullback in the market. You can see that we had nice rallies the last two times that this has happened on this chart at March 2020 and Feb 2016. I also noticed some more supporting evidence that this is near the bottom from the dark orange wedge breakout. If you measure the bottom to the peak in 2015-16 you can get an ideal exit target for the wedge breakout. Typically, you would measure from the breakout point, which it hasn't reached at this time, but if you measure from the bottom, you can see that the target has interestingly been reached to an almost exact amount. We also have the yellow resistance and the peak at March 2020 as a pivot point for all of these lines. Not too critical of a point, I just found that interesting haha. We also have institutions like black rock capitulating on growth twitter.com Many institutions were bearish on the market at the bottom of the covid dip. Finally we have a heavily overbought RSI and stoch on the monthly that also signals a top. Now the short term future outlook looks bullish on risk to me but I was thinking on potential long term possibilities from there: I believe that the yellow trajectory is more likely to happen over the blue one at this point to be honest. The blue option just requires too much competence in all global leaders to pull off so it seems unlikely to me and would be frankly miraculous. But it could still happen. The yellow one would basically give investors an opportunity to exit growth at more reasonable prices before the market continues its tank fest again. And while I have this pivot point at Jan 2024, it could happen much steeper and faster and pivot later this year. The yellow support line and the blue breakout line are most important to watch and see what option it'll be.
AMEX:SPY
by Lynxys
3
Gold - Macro View 🌎Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📌 Monthly: Left Chart From a macro perspective, Gold has been generally bullish, trading within the rising brown channel. For the bulls to maintain control, a break above the 2075.0 level is essential. In this scenario, a continuation toward the upper boundary of the brown channel can be anticipated. 📌 Weekly: Right Chart Meanwhile, from a medium to long-term perspective, Gold appears to be confined within a range, currently nearing its upper boundary. As long as the 2075.0 resistance holds, the possibility of a bearish correction persists. Confirmation of a bearish reversal setup would depend on lower timeframes. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
OANDA:XAUUSD
by TheSignalyst
2
Trading Strategies Based on Geopolitical RisksUnderstanding the influence of geopolitical events on trading is crucial for success, especially in the volatile forex market. This article delves into the types of geopolitical events that affect financial markets and provides key insights into risk management and strategic trading during such times. Understanding Geopolitical Events Geopolitical events refer to significant occurrences that impact the relations between nations on a global scale. These events can shape economic policies, trade relations, and international alliances, thereby exerting a considerable influence on financial markets. Types of Geopolitical Events These are the most common types of geopolitical events: Political Elections and Transitions Elections, whether presidential, parliamentary, or local, are pivotal events that can induce market volatility. For instance, the US Presidential election can affect not just American markets but also international equity, forex, and commodity markets. Trade Negotiations and Agreements Trade talks can either ease or escalate tensions between countries. A case in point is the US-China trade war, which impacted a variety of asset classes, from equities to commodities like soybeans and steel. Military Conflicts and Terrorism Military confrontations or acts of terrorism have immediate and often lasting impacts on markets. The uncertainty that follows such events tends to drive investors towards safe-haven assets like gold or US Treasury bonds. Economic Sanctions and Policy Changes Sanctions or regulatory changes have a far-reaching impact. For example, the imposition of sanctions on Iran led to increased oil prices due to reduced global supply. The Role of Sentiment and Market Psychology Beyond the tangible impacts of geopolitical events, sentiment and market psychology play crucial roles in shaping market trends. Traders' perceptions and emotional responses to these events can significantly influence asset prices, often amplifying or mitigating the effects of the actual geopolitical occurrences. Preparing for Geopolitical Event Trading Here are some techniques that can help traders prepare for geopolitical events. Risk Assessment and Strategy Selection Accurately assessing the risks of geopolitical events is pivotal for traders. This involves a thorough evaluation of the event’s potential market impact and selecting a trading strategy aligned with the identified risks. Some may opt for low-risk day trading strategies to mitigate short-term volatility while still participating in market movements. Building a Geopolitical Event Trading Toolkit Keeping an eye on reliable research sources and news feeds is crucial. These sources offer insights into the geopolitical landscape, aiding traders in making calculated moves. Economic calendars serve as another invaluable tool, marking crucial dates that could influence asset prices. [Risk Management and Capital Allocation Effective risk management strategies in the stock market often involve setting precise stop-loss and take-profit levels. In forex, risk management techniques may differ slightly but generally rely on these same measures. Defining these levels helps to mitigate losses while capitalising on gains. Equally important is the concept of position sizing and leveraging, which directly influences the level of risk a trader is exposed to. Event-Driven Trading In a trading environment rife with geopolitical risk, trading strategies typically focus on three crucial timeframes: before, during, and after a significant geopolitical event. Trading Leading Up to the Event In the run-up to a known geopolitical occurrence, traders often adopt a cautious stance. Here, the emphasis is on accumulating information and adjusting trading strategy to mitigate undue risks. Asset diversification and hedging are common practices during this period. Trading the Event Itself As the event unfolds, market volatility usually spikes. Traders need to be agile, adapting their strategies to real-time information. High-risk, high-reward assets may provide substantial returns, but they should be approached cautiously, especially in forex markets where volatility is already high. Here, strong risk management when trading forex becomes crucial, as the market can move rapidly and unexpectedly. Post-Event Trading Strategies After the event concludes, markets often go through a period of correction or consolidation. It's essential for traders to reevaluate their positions and strategies in light of the new geopolitical landscape. This post-event period is an opportune time to reassess asset allocation and risk parameters. Trading Strategies for Geopolitical Events In the tumultuous landscape created by geopolitical events, traders often resort to specific strategies to mitigate risks and capitalise on market movements. The particular assets that appreciate or depreciate can be context-dependent, but there are general trends to watch for. To observe how these markets move during geopolitical events, head over to FXOpen’s free TickTrader platform. There, you’ll find 1,200+ trading tools ready to help you navigate the markets with confidence. Safe-Haven Assets Traditionally, assets like gold and US Treasury bonds have served as safe havens during times of geopolitical unrest. For example, significant military conflicts that have a global impact often drive up gold prices as investors seek stability. Safe-Haven Currencies In the forex risk management, the US dollar, Swiss franc, and Japanese yen are commonly considered safe-haven currencies. These currencies typically appreciate when uncertainty rises as investors look for less risky assets. Diversification Maintaining a diversified portfolio can help traders lessen their exposure to any single asset that might be adversely affected by geopolitical factors. For instance, sanctions on oil-producing countries could potentially lead to higher oil prices. Traders might consider investing in oil futures or related equities in anticipation of such an event. The Bottom Line Navigating the markets during geopolitical events requires keen awareness, thorough preparation, and strategic execution. This article aims to equip traders with the insights and tools needed for such endeavours. For those looking to apply these principles in a real-world trading environment, consider opening an FXOpen account to trade the safe-haven assets and currencies discussed here. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XAUUSDEducation
by FXOpen
1
🌍 31K: The Pivotal Level for the New Era Safe Haven 📱☎️Hey Bitcoin Traders! 🤟 BTC is at a crucial point, and it's time to make some moves. 📈 🔥 Pivotal Level: We're hovering around 31K. This is the resistance cluster to watch. If we break it, 45K could be next. 🌈 📉 Support Zones: Keep an eye on 29,000 and just below 30,000. These are our safety nets. 🛡️ 📈 Why Bitcoin?: Forget Gold, the old-school landline phone. Bitcoin is the smartphone of assets—versatile, future-proof, and the new era safe haven. 📱☎️ 🌍 Global Outlook: With tensions in the Middle East and market volatility, Bitcoin is the asset I'd want to hold if things go sideways. 🌐 🔮 What's Next?: Today's market movements are crucial. Will we break the resistance or bounce back? Stay tuned. 📺 That's the lowdown, folks! Keep your eyes on the charts and your fingers on the triggers. 🎯 One Love, The FXPROFESSOR 💙
Long
by FX_Professor
2
🏆 Gold at a Crossroads: The Old Guard vs. Bitcoin, the New Era Hey Gold Traders! 🌟 Gold is at a pivotal point, but let's not forget there's a new kid on the block—Bitcoin. 🗺️ 📈 Chart Analysis: Gold is hovering around a resistance level of 2001. It's decision time, folks. ⚖️ 📉 Short Targets: If Gold can't break 2001, I'm eyeing short positions with targets at 1938 and 1881. 🎯 📈 Long Scenario: Should it soar past 2001, I'll flip the script and go long, targeting 2052 and maybe 2134. 🚀 🤔 Gold vs. Bitcoin: Think of Gold as the landline phone—reliable but limited. Bitcoin is the smartphone—versatile and the future. 📱☎️ 🔮 Outlook: Gold has its merits, but let's be real, Bitcoin is the new era safe haven. If things go south, I know which asset I'd rather hold. 🛡️ That's the scoop! Stay golden or maybe, go crypto? 🤔 One Love, The FXPROFESSOR 💙
COMEX:GC1!Short
by FX_Professor
Gold - was, is and will always be our Safe Haven!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. on Daily: Left Chart After rejecting the 1800.0 support, Gold has been bullish especially after breaking above 1900.0. Currently, XAUUSD is sitting around a strong resistance in green. For the bulls to remain in control, we need a break above 1960.0. 📈 In this case, a movement till the 2000.0 round number would be expected. on H1: Right Chart Meanwhile, the bears can still kick in. To be confirmed if the last low in gray at 1934.0 is broken downward around. 📉 In this case, we will be expecting a correction till the 1900.0 support. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
OANDA:XAUUSD
by TheSignalyst
3
Gold Poised to Shine - 18% Upside Projected by Completing Wave 5Gold is currently trading around 494.92 RMB per gram in China as of July 25, 2023. Based on the technical analysis on XAUCNY showing we are currently in wave 5, subwave 4 of an upward trend, the prediction is that by January 2025, the price for 1 ounce of gold will reach 16575 RMB. Given that 1 ounce equals 28.3495 grams, a price of 16575 RMB per ounce implies that the price per gram of gold is expected to reach around 584 RMB by January 2025. This represents an increase of approximately 18% from the current price of 494.92 RMB per gram. Going from subwave 4 to subwave 5 typically signals the final leg of an advancing trend before it completes the larger degree wave 5. If the analysis is correct, we can expect the 18% price increase to occur over the next 1.5 years as gold enters the terminal subwave 5. The ongoing expansionary monetary policies by central banks globally serves as a key driver supporting higher gold prices. High inflation levels in many economies incentivizes investors to allocate more funds to gold as an inflation hedge. Geopolitical tensions, such as the Russia-Ukraine conflict also increase safe-haven demand for gold. While risks remain, such as potential interest rate hikes that strengthen the dollar, the overall backdrop still seems conducive for higher gold prices. From a technical perspective, the upside projection toward 584 RMB per gram over the next 1.5 years aligns with the view that subwave 5 will see accelerating upside momentum toward completing wave 5. In summary, based on current technical analysis, the prediction is that gold will reach 584 RMB per gram by January 2025, an 18% increase from today's levels, as it completes the final wave 5 uptrend over the coming months. The macroeconomic and geopolitical environment also seem supportive of this view.
SAXO:XAUCNHLong
by teconlab
Gold - Real gold is not afraid of the melting pot 🪔Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last picture and video analysis (attached on the chart), we have been looking for buy setups around the lower bound of the channel. This week, XAUUSD rejected the lower blue trendline and round number 1800, and traded higher. However, it is currently approaching the upper bound of the channel. Moreover, the zone 1900.0 is a previous major low and round number. 🏹 So the highlighted blue circle is a strong area to look for trend-following sell setups as it is the intersection of the orange previous major low and upper blue trendline acting as a non-horizontal resistance. As per my trading style: As XAUUSD approaches the lower blue circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
OANDA:XAUUSD
by TheSignalyst
12
Gold Prices Gain on Safe Haven Bid: What does it mean?TVC:GOLD Gold prices rose on Tuesday as investors sought safe-haven assets due to the escalating conflict between Israel and Hamas. Gold is often considered a safe haven during times of market uncertainty and volatility. There are several reasons why gold is considered a safe haven. First, gold is a physical asset with no correlation to other financial markets. This means that gold tends to hold its value even when other markets experience volatility. Second, gold is a limited resource and difficult to produce. This gives gold intrinsic value and makes it less susceptible to inflation. A rise in the price of gold could have a number of implications for forex and stocks. Higher gold prices could put downward pressure on the US dollar, as investors tend to sell the US dollar to buy gold in times of uncertainty. Rising gold prices could also lead to higher inflation, which could put pressure on stock markets. Foreign exchange meaning Higher gold prices could put downward pressure on the US dollar. Indeed, investors tend to sell off the US dollar to buy gold in times of uncertainty. Gold is often considered a safe haven, while the US dollar is considered a riskier asset. Meaning of stock market Rising gold prices could lead to higher inflation. Indeed, gold is often considered a hedge against inflation. As a result, rising gold prices can signal rising inflation. Higher inflation could weigh on the stock market as it could lead to higher interest rates and slower economic growth. Conclusion A rise in the price of gold could have a number of implications for forex and stocks. Higher gold prices could put downward pressure on the US dollar, while rising gold prices could lead to higher inflation and weigh on stock markets. I hope this post is helpful. If you agree with the idea, please follow and share this with others too. This analysis is based on the information at the date it is posted. This analysis does not represent professional and/or financial advice. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information. Any feedback is encouraged and appreciated. Thank you and have a nice day!
CAPITALCOM:GOLDLong
by YExplore
Gold - We Want our Safe Haven Back ❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. XAUUSD has been overall bearish trading inside the falling channel in blue, and it is currently approaching the lower bound of the channel. Moreover, the zone 1800.0 is a strong support, demand and round number. 🏹 So the highlighted blue circle is a strong area to look for trend-following buy setups as it is the intersection of the green support and lower red trendline acting as a non-horizontal support. As per my trading style: As XAUUSD approaches the lower blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
OANDA:XAUUSDLong
by TheSignalyst
2
AUD/JPY: A CURRENCY PAIR IN THE SPOTLIGHTKey fundamental factors to watch for in the AUD/JPY currency pair: Australian economic data: The AUD is sensitive to data releases such as GDP growth, unemployment rate, and retail sales. Positive economic data releases tend to boost the AUD, while negative data releases tend to weigh on the currency. Japanese economic data: The JPY is sensitive to data releases such as GDP growth, industrial production, and inflation. Positive economic data releases tend to weigh on the JPY, while negative data releases tend to boost the currency. Risk sentiment: The AUD/JPY currency pair is sensitive to risk sentiment in the global market. When risk sentiment is strong, the AUD tends to rise against the JPY. When risk sentiment is weak, the JPY tends to rise against the AUD. Interest rate expectations: The AUD/JPY currency pair is sensitive to shifts in interest rate expectations between Australia and Japan. If interest rates are expected to rise in Australia relative to Japan, the AUD tends to rise against the JPY. Technical Analysis 30-Minute Chart The AUD/JPY currency pair is currently trading in a bullish trend on the 30-minute chart. The price is above the 50 and 200-period moving averages, and the MACD indicator is above the signal line. The RSI indicator is also above 50, which indicates that the pair is not overbought. According to the Elliot Wave Theory, on the 30min chart, we are now forming a Wave C on the downside. If the analysis is valid, the marked levels (or around them) will be touched and then the downtrend will continue for a short-medium term, before the market resumes its uptrend, forming a next impulsive wave on the upside. Key technical levels to watch on the 30-minute chart: Support: 95.059, 95.132, 95.173 Resistance: 95.246, 95.278, 95.351 4-Hour Chart The AUD/JPY currency pair is also trading in a bullish trend on the 4-hour chart. The price is above the 50 and 200-period moving averages, and the MACD indicator is above the signal line. The RSI indicator is also above 50, which indicates that the pair is not overbought. Key technical levels to watch on the 4-hour chart: Support: 95.059, 95.132, 95.173 Resistance: 95.246, 95.278, 95.351 Daily Chart The AUD/JPY currency pair is trading in a neutral trend on the daily chart. The price is between the 50 and 200-period moving averages, and the MACD indicator is crossing above the signal line. The RSI indicator is also at 50, which indicates that the pair is neither overbought nor oversold. Key technical levels to watch on the daily chart: Support: 95.059, 94.958, 94.857 Resistance: 95.246, 95.351, 95.456 Overall Outlook The AUD/JPY currency pair is currently trading in a bullish trend on the 30-minute and 4-hour charts. However, the pair is trading in a neutral trend on the daily chart. Bullish traders will be looking for a break above the 95.246 resistance level on the 30-minute and 4-hour charts. A break above this level could lead to a further rally towards the 95.351 resistance level. Bearish traders will be looking for a break below the 95.059 support level on the 30-minute and 4-hour charts. A break below this level could lead to a further decline towards the 94.958 support level. **Traders should also pay attention to the overall risk sentiment in the global market. I hope this post is helpful. This analysis represents the information at the date it is posted. This analysis does not represent professional and/or financial advice. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information. Any feedback is encouraged and appreciated. Thank you and have a nice day
Short
by YExplore