Major downtrend that holds good supportCan we break this downtrend or will we see a continuation on it. Lets wait and see, be patient. I think that the dollar is quite weak at this point and that we can see it fall further down, but first i think it can come to test the major downwards trendline before it weakens. At this point we have a good support at the fib level 0.618
Sellusd
Gold Has Broken and Is Staying Above US$2,000Why has gold broken above the $2,000 level? And why is it likely to stay this way for a long time?
This is because the USD has been weakening since October, and we can observe an inverse relationship between them during this period, as well as in previous periods.
Micro Gold Futures & Its Minimum Fluctuation
0.10 per troy ounce = $1.00
Code: MGC
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USD/CAD short emerging from Rev Inv C&H with target 1.2900There are many different variations of patterns showing.
And they are all leading to downside.
We have small Rounding Tops, small Inverse Cup and Handles.
We have a break in the most recent uptrend line..
But I am focusing more on the bigger picture.
There is a solid Reverse Inv Cup and Handle forming since 10 August 2023.
The price has almost completed the final Inverse Cup and is approaching the brim level.
We have other indicators confirming with 21>7 - Bearish in the short term.
We also have the price coming down to test and mighty 200MA.
Break below, and it'll give us more confirmation of downside to come.
RSI is falling below 50 like a knife, showing downside momentum.
All in all, my first target will be at 1.2900
PS: This also goes in line with the overall DOllar weakness that has helped boost the stock markets world wide and the indication of a slow down in interest rate hikes.
Great for stocks not great for the US dollar.
GOLD 11/05: Scalp ahead of tonight's PPI newsTVC:GOLD Gold prices increased their bid to refresh the intraday high near 2,035$ early Thursday, reversing the previous day's retracement from a one-month-old horizontal resistance. Precious metals benefit from broad US Dollar weakness.
The XAU/USD pair maintains a neutral to bullish view in the daily chart. The pair is growing above all of its moving averages, although the 20 Simple Moving Average (SMA) has lost its positive momentum, currently hovering around 2,010$.
The 4-hour chart shows that XAU/USD holds above the bearish 20 SMA, while the longer moving averages are not below it. Technical indicators head south but remain neutral, not enough to confirm another drop. Gold could extend its decline, but buyers are likely to reappear around 2,026$ as the US Dollar's current strength may be temporary.
BUY GOLD 2026 - 2030
Stoploss: 2022
Take profit 1: 2033
Take profit 2: 2037
Take profit 3: 2043
SELL GOLD 2045 ́2048
Stoploss: 2052
Take profit 1: 2040
Take profit 2: 2035
Take profit 3: 2025
BUY EURUSDMore confirmation on why this is bullish. Previous resistance has created a strong support at this level. Bears are unable to break below. Long targets 0.9960 stops are below 0.9800 This should be a strong trend changer trade of the week. This will inform us if the trend has shifted. Use proper money management.
SELL USDCAD I will reenter this short again, with OPEC Cutting oil production by 1 million barrels/day CAD is set up for massive strength as oil will shoot. This is a great place to short. Use proper money management. Any manipulation to the upside will not exceed level 1.40000. All the best fellow traders.
sell USDCADShort OANDA:USDCHF , price is about to make a false breakout to the upside by breaking the resistance formed on ower timeframes. This move is for grabbing liquidity. I am expecting to have my pending orders snatched from there. I have a few early entries on this pair. I advice you use proper money management. Good luck
EURUSD AnalysisOn Friday we saw disappointing numbers on the unemployment rate news in USA.
That affected the USD immediately. This week we have news from the ECB.
However, before that we expect that the effect from the Friday news will last and we will see higher values.
The resistance above current price level is at 1,2246.
This scenario is possible as long as we don't see price falling down below 1,2100!
Hello, EU bulls!!is it time? time for what u may ask... TIME TO LONG EU!!!! In 2021, usd has fell to multiyear lows against aud, cad, gbp, & nzd.
Euro, along with ch& jpy, has been lagging TREMENDOUSLY .. & now with the dollar pairs at support across the board and euro showing signs of life in other pairs i truly believe we can see 1.23 again and THE JOURNEY BEGINGS HERE
ENTRY 1.1845
TP1 - 1.188
TP2 - 1.199
ULTIMATE GOAL 1.23 & once we touch 1.199 thats all i need to see for another run to the 1.20's price again
lol i accept coins and cashapp $bakedbenji :)
NZD/USD - LONGTrade update from a previous video I posted on buying NZD/USD.
The fundamentals point towards a move to $0.75 on the exchange rate that offers a move of up to 5% appreciation in the KIWI.
Fundamentals driving the trend.
1.) Lower interest rates in the U.S no longer makes the U.S Dollar an attractive high yielding currency.
2.) $2 Trillion Fiscal stimulus package in 2021 will put further downside weakness on the U.S dollar.
3.) High growth in China is supporting Asian currencies.
USD/RUB - Sell Update In this video update to a previous video I posted on selling USD/RUB, we look the Dollar getting weaken against the Ruble and a perfect time to enter a short sell-set up.
The Ruble has a number of factors supporting it's strength agaisnt the Dollar.
1.) Higher interest rates mean selling the currency pair gives you a positive overnight carry trade opportunity.
2.) Higher Oil prices will support the Russian Ruble as Oil makes up 55.92% of Russia's exports.
3.) A weaker U.S Dollar and negative current account balance should further depreciate the dollar.
The one risk to a downside sell is U.S Sanctions on Russia should the Joe Biden take a tough stance with Russia.
We look at Entry price, stop loss and take profit targets for this trade idea.
EUR/USD & DXY Trade Update Here is a video update for the trade set up's I recently posted for EUR/USD and DXY index.
U.S Dollar weakness is strong across the FX market as low-interest rates in the U.S, a negative current account balance, alongside a big fiscal spending package from the Biden's administration from January, is the consensus view across the markets to cause a structural bear market trend for the U.S dollar in 2021.
The U.S Dollar Index is continuing to weaken as a result offering a short sell set up (DXY).
SELL U.S Dollar Index (DXY) We take a closer look at the US Dollar Index and the makeup of currencies within the basket.
If you don't want to trade the Individual US Dollar currency pairs we can sell the Index as the Dollar continues to weaken across the currency pairs that make up the Index.
We look at entry price strategies below a key technical support level 92.00