Lingrid | GBPAUD pullback Towards BEARISH ContinuationThe price perfectly fulfilled my previous idea. It hit the target zone. FX:GBPAUD is currently making lower lows, which indicates a prevailing bearish momentum. The recent price action shows that it broke and closed below the consolidation zone, further reinforcing the bearish outlook. Additionally, the price tested the resistance zone twice before breaking through, highlighting the significance of that level. Therefore, I expect the market to pull back toward the resistance zone before continuing its bearish movement. This pullback could provide a good opportunity for sellers to re-enter positions, anticipating further downward pressure. My goal is support zone around 1.94295
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Signals
USDJPY rises sharply, supported by rising channel !USDJPY is showing significant upside momentum today, trading firmly within a well-defined bullish channel on the 4-hour chart and currently trading at 153.89. This bullish move reflects a stronger USD influence, fueled by recent events surrounding former President Donald Trump.
Despite the steady push from technical factors, USDJPY may face resistance near 154.00. This area may act as a short-term hurdle, as the pair’s upside momentum may slow down once it reaches this level. A minor pullback within the channel is expected, which would help confirm the ongoing trend. This pullback could take USDJPY down to the support zone around 153.000, testing both the 34 and 89 EMAs for further strength.
If the pullback is successful, USDJPY is expected to continue its upward trajectory, heading towards the upper boundary of the channel. The next important resistance zone lies above 156,000, which aligns with the top of the channel, representing a crucial level to watch for further gains.
EURJPY BUY | Idea Trading AnalysisEURJPY is moving in an UP trend channel.
The chart broke through the dynamic Resistance line..
We expect a decline in the channel after testing the current level which suggests that the price will continue to rise
Hello Traders, here is the full analysis.
I think we can soon see more fall from this range! GOOD LUCK! Great BUY opportunity EURJPY
I still did my best and this is the most likely count for me at the moment.
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Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad
NZDUSD: Bearish Movement From Resistance 🇳🇿🇺🇸
This morning, I shorted NZDUSD.
I was waiting for a bearish signal after a test of an intraday/daily horizontal resistance.
A double top pattern and a breakout of its neckline gave a strong signal to sell.
We can expect a bearish movement now.
Goals: 0.5982 / 0.5962
❤️Please, support my work with like, thank you!❤️
Lingrid | TONUSDT remains in a SIDEWAYS TrendThe price perfectly fulfilled my last idea. It has reached the target level. OKX:TONUSDT is currently making lower highs, indicating a potential bearish trend, and is also making equal lows, indicating that there is still buying pressure. Given this price action, it is possible that the market could move lower to break the recent equal lows before attempting to move higher. I expect the market could take liquidity below the support level, which would support a bullish move and a retest of the descending trendline that has been in place since August. My target is the resistance zone around 5.775
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
World gold price recovers despite high USDWorld gold prices recover despite the high USD. Recorded at 9:50 a.m. on November 8, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 104.430 points (up 0.19%).
According to Kitco, central banks cutting interest rates, a wave of buying, and recently released US economic data... are supporting the recovery of gold prices.
On Thursday, the US Federal Reserve (FED) continued to cut interest rates. This was a move that many people had predicted and long expected. The Federal Open Market Committee (FOMC) lowered the federal funds rate by 25 basis points, in line with expectations. Interest rates are currently trading in a range of 4.5% to 4.75%.
The FED did not provide much guidance on the future path of monetary policy. They noted that the economy continued to grow at a solid pace.
Not only the FED, the Bank of England (BoE) has also just decided to cut interest rates further. In a long-awaited move, the BoE cut the bank rate to 4.75% on Thursday.
In addition, gold prices rebounded sharply after the release of US labor market data. Mr. Ernest Hoffman - market analyst at Kitco News - said that the US Department of Labor announced on Thursday that initial jobless claims increased to 221,000 in the week ended November 2. This figure was completely in line with expectations, as the general estimate forecast the number of claims was 221,000.
🔥 GOLD BUY 2683 - 2681🔥
✅TP1: 2690
✅TP2: 2700
✅TP3: OPEN
🚫SL: 2675
Gold price today, November 8: Reversing to go upGold prices jumped today as the US Federal Reserve (FED) cut interest rates by 0.25% as the market had predicted. Accordingly, the US base interest rate fell to 4.5-4.75%. This is the second time in 2024 that the FED has cut interest rates to reduce inflation to the 2% target and boost economic growth.
Lower interest rates have put pressure on the value of the USD and bond yields to fall, after rising sharply on November 7 - the time Donald Trump was elected US President. Since then, gold prices have become attractive to investors.
Bloomberg news agency reported that central banks around the world are concerned that Mr. Trump's policies could lead to slower global economic growth and higher inflation.
Analysts say that in the long term, the world gold price will continue to heat up because President Donald Trump intends to impose high import taxes. At that time, the price of goods in the US will increase, affecting inflation, causing the USD to depreciate, pushing the price of gold up.
🔥 XAUUSD BUY 2683 - 2681🔥
✅TP1: 2690
✅TP2: 2700
✅TP3: OPEN
🚫SL: 2675
Gold ReboundsAfter Donald Trump's victory in the U.S. presidential election, gold prices dropped by more than $80 per ounce on November 5th in both Asian and U.S. markets. However, mixed economic data from the U.S., Germany, and China, combined with the Federal Reserve's decision to cut interest rates, helped gold prices rebound to $2,700 per ounce.
Looking at the technical chart at 4:00 PM, with support at $2,650, gold prices have started to rise again and are testing the resistance level at $2,707. If gold breaks through this resistance, it is expected to regain momentum and continue to rise towards a new target. However, if gold fails to break through the resistance, it could fall back to the support level of $2,683.
During this time, make sure to closely monitor the market to respond promptly to any unexpected developments!
"BTCUSDT Aiming for 82,000 USDT ResistanceCurrently, BTCUSDT is trading within a very solid long-term price channel. With the current price fluctuating around 75,672 USDT and showing minimal change compared to yesterday, the bullish momentum remains strong.
It is anticipated that BTCUSDT could soon progress toward the potential resistance level of around 82,000 USDT at the upper boundary of the price channel.
Is Gold's correction over?In my recent analyses, I warned that a significant correction in Gold prices was inevitable.
True to this prediction, the election of Donald Trump triggered a sharp 1,000-pip drop in Gold's value.
However, yesterday, the market rebounded strongly, recovering 700 pips from that initial decline.
The big question now is whether this correction has run its course.
In my view, we may have reached a bottom, and Gold could be poised to resume its overall uptrend.
I’m currently looking for buying opportunities on dips.
FOMC and Powell support GOLD, bearish outlook still prevailsOANDA:XAUUSD Spot trading rose nearly 2% yesterday when the Federal Reserve cut interest rates by 25 basis points as market predicted, causing the US Dollar to plunge and giving gold a boost.
The Federal Reserve cut its benchmark interest rate by 25 basis points on Thursday, while policymakers noted a "broad deterioration" in the job market. Officials voted unanimously to lower the federal funds rate to a range of 4.5%-4.75%. Federal Reserve Chairman Jerome Powell said Trump's presidential election victory will not directly affect monetary policy.
Federal Reserve interest rate cuts have put pressure on the US dollar and bond yields, while boosting the investment appeal of non-yielding gold.
FOMC content
In their monetary policy statement, officials acknowledged the economy is growing steadily despite slowing labor market conditions. They admitted inflation was close to the Fed's 2% target but still remained slightly high.
Fed policymakers also noted that the risks to achieving their dual mandates were “roughly balanced” but acknowledged uncertainty about the economic outlook.
The Federal Open Market Committee (FOMC) statement said: "The Committee believes that the risks to achieving its employment and inflation goals are balanced and that there is uncertainty about the economic outlook. The Committee concerned about the risk of achieving his dual mandate."
While policymakers noted “progress” in achieving the inflation target, they neglected to mention “becoming more confident that inflation can move steadily toward 2 percent.” sustainable”.
“Labour market conditions have generally eased since the beginning of this year, with the unemployment rate rising but remaining low,” the Fed statement said.
Powell said the election results would not affect decision-making in the short term and that there was flexibility in future policy direction.
At his post-FOMC press conference, Fed Chairman Jerome Powell avoided giving specific guidance on the future direction of interest rates, leaving room for flexibility at the December meeting and beyond. He emphasized that because the economy is strong, the Fed can take its time lowering interest rates. He acknowledged that even after Thursday's rate cut, policy remains restrained as officials aim to return interest rates to neutral levels.
Regarding the pace of interest rate cuts, Powell said if the labor market weakens or slows as it approaches neutrality, the Fed could accelerate the pace of interest rate cuts. However, he clarified that no final decision has been made yet.
Powell also said that in the short term, the presidential election results will not directly affect monetary policy.
General assessment
The Fed's 25 basis point cut boosted gold prices, on the other hand, Powell made very clear statements about the possibility and prospect of cutting interest rates and this is not beneficial for the US Dollar.
A very basic knowledge is that the US Dollar is controlled by the Fed and not under the power of the US President. Therefore, even in the event that Trump is elected and boosts the US Dollar, it will still be restrained by the policy of cutting interest rates. Only if Trump can completely eliminate the Fed will the US Dollar have nothing to show for it. prevent. Of course, this is without precedent, nor has any President been able to do this.
Analysis of technical prospects for OANDA:XAUUSD
Although gold has recovered strongly from the 0.618% Fibonacci level confluence with the lower edge of the channel, it is still in a downtrend with the price channel as the short-term trend.
On the other hand, gold's upward momentum has also been limited by the EMA21 level, and it still has enough bearish conditions when the Relative Strength Index is also showing signs of folding down from the 50 level area.
If gold falls below the 0.382% Fibonacci retracement level, it will have the potential to fall a bit further with a short-term target of around 2,684 USD rather than 2,668 USD.
However, in case gold moves above the EMA21 level it will tend to increase further to test the 0.236% Fibonacci level. Therefore, for open selling positions should be protected above EMA21 quite "strictly."
During the day, gold still has a bearish technical outlook with notable points listed as follows.
Support: 2,684 – 2,668USD
Resistance: 2,700 – 2,710USD
SELL XAUUSD PRICE 2736 - 2734⚡️
↠↠ Stoploss 2740
→Take Profit 1 2729
↨
→Take Profit 2 2724
BUY XAUUSD PRICE 2676 - 2678⚡️
↠↠ Stoploss 2672
→Take Profit 1 2683
↨
→Take Profit 2 2688
Ethusdt broke the channel, towards the new peak?Currently, Ethusdt is having a spectacular breaking out of a long decrease channel, signaling the potential to reverse the trend of increasing. After Breakout from the upper border of the channel, the price of ETH has increased sharply and is currently fluctuating around 2,908 USDT.
With the current motivation, Ethusdt can target higher levels around US $ 3,100 in the short term. This is a potential goal if ETH continues to maintain a strong increase.
XAUUSD: Buyers Dominate!Dear traders!
Today, gold prices have made an impressive recovery, rising more than $48.4 to $2,708.8/ounce, marking a strong move with an increase of more than 1%. This recovery is reinforced by the weakness of the US dollar, along with the news that the Federal Reserve is expected to cut interest rates by 0.25% this Thursday. Although future interest rate cuts may face challenges if former President Trump returns, this trend opens up many positive opportunities for gold in the short term.
As seen from the 1-hour chart, the uptrend is forming and is being consolidated after the correction. In addition, the current gold price is reacting at the support zone of the two EMAs (34 and 89), creating a notable area. Therefore, Victor personally appreciates that based on the current momentum, if the price breaks the short-term resistance level near $2,710, the possibility of gold prices continuing to increase to higher levels in the coming time is high.
At the time of writing, the realization phase is forming, Victor is waiting for confirmation with the aim of strengthening further.
GOLD established a falling structure after a sharp declineOANDA:XAUUSD Spot delivery is basically stable after yesterday's plunge. The current gold price is about 2,660 USD/ounce. Previously on Wednesday (November 6), after Trump was elected President of the United States, investors rushed to buy US Dollar, OANDA:XAUUSD plummeted to its lowest level in 3 weeks.
As sent to readers in many articles about the election of Trump, a shock decline in gold is inevitable because Trump's "steering wheel" will support the Dollar from general economic policies.
Trump's victory will boost the dollar as he is expected to propose new tariffs that could cause a spike in inflation and cause the Federal Reserve to pause its easing cycle.
Fed decision upcoming
After cutting interest rates by 50 basis points in September, the market expects the Fed to cut interest rates by 25 basis points this time.
The US economic calendar today (Thursday) will focus on the Federal Reserve's monetary policy decision. The Fed is expected to reduce borrowing costs by 25 basis points to a range of 4.50%-4.75%.
Trump and the Fed
Trump's economic policy proposes imposing taxes, increasing the fiscal deficit, and reducing taxes. His economic advice conflicts with the Fed's anti-inflation policy. Therefore, the Fed will be forced to take a very cautious approach when loosening monetary policy.
The risk of rising inflation after Trump introduced new taxes could slow the pace of interest rate cuts by the Federal Reserve. This is very important because Trump and the Fed are becoming opposing, it is likely that Trump will destroy all previous efforts of the Fed to curb inflation.
For more than 70 years, the Federal Reserve has operated as an independent government agency in the United States, but this tradition may soon be overturned. After declaring victory on Wednesday (November 6), Donald Trump is preparing to talk about "interest rates" after taking office in January 2025, insisting his intuition is better than the Chairman of the Reserve Federal Powell.
For more than 70 years, the US central bank has operated as an independent government agency. When officials meet to decide interest rates, they will not need to consult with the president and other elected officials. That's because, as the former Fed chairman famously said, “The job of the central bank is to get rid of the drinking bowl just as the party is getting started.”
In other words, they have to make unpopular decisions that ultimately seek to bring long-term benefits to the economy. However, once President-elect Trump returns to the White House, the independence the Fed has maintained for many years could be compromised.
Trump's statement was posted on CNN: “I think the president should at least have a say. I feel very strongly,” Trump said about the Fed's interest rate decision at a press conference in August.
Trump added: “I make a lot of money, I'm very successful and I think in many situations I have better abilities than the people at the Fed or the president.”
Analysis of technical prospects for OANDA:XAUUSD
After yesterday's strong price drop, gold has all the technical conditions to decrease in price through the price channel. The fact that gold was sold below the price channel and the 21-day moving average (EMA21) caused the bullish price structure to be completely broken.
Currently, gold is recovering slightly after receiving support from the 0.618% Fibonacci retracement level, and once this level is further broken below, gold tends to continue to decline with a subsequent target level of around 2,600 USD around the 0.786% Fibonacci retracement area.
On the other hand, the Relative Strength Index continues to point downward after breaking the 50 level, which should be considered a negative signal for gold as the RSI's next target is 25. Showing that the downward momentum remains quite wide in the front.
In the near future, technically, gold has the potential to decrease in price with the price channel being the short-term trend.
As long as gold remains in the price channel and below the EMA21 level, the bearish outlook will still be prioritized, and the notable points will be listed as follows.
Support: 2,640 – 2,645USD
Resistance: 2,668 – 2,684 – 2,697USD
SELL XAUUSD PRICE 2708 - 2706⚡️
↠↠ Stoploss 2711
→Take Profit 1 2701
↨
→Take Profit 2 2696
BUY XAUUSD PRICE 2637 - 2639⚡️
↠↠ Stoploss 2633
→Take Profit 1 2644
↨
→Take Profit 2 2649
ETHUSDT: Promising Growth Potential!ETHUSDT is currently maintaining a strong uptrend, hovering around 2840 USDT, up more than 4.44% on the day! Notably, the Flag in Uptrend pattern is forming on the chart, signaling a great growth opportunity.
Upcoming Targets: The first target will be the resistance zone of 3400 USDT, and if the bullish momentum holds, ETH may reach 4500 USDT!
Do you think ETH will conquer these heights? Leave your comments below! Happy trading!
BITCOIN Will Keep Growing! Buy!
Hello,Traders!
BITCOIN keeps growing
And we are seeing a
Strong bullish breakout
Of the key level around 74k$
Which reinforces our bullish
Bias and we will be expecting
A further move up
Buy!
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Check out other forecasts below too!
Calling All Pro Traders!This is the action you’ve been waiting for as it dances around critical levels!
XAUUSD Outlook:Currently in a tight range between 2692 and 2700 – a major battle unfolding here! Will it break out soon?
Keep those eyes peeled! Downside Alert:If XAUUSD slips below this key range, it could trigger a swift move lower! Targets on the radar: 2680 and 2667.
Be ready to act! Upside Potential: On the flip side, if we see a breakout above this zone, it could set the stage for an explosive rally! Next targets in sight: 2704 and 2708.
Is the bulls' momentum building? Let’s Chat! What’s your take? Will we see a breakout or a reversal? Drop your thoughts below! Together, we’re navigating one of the most exciting moments in the market! Stay sharp, stay strategic – let’s go for the win!
EURUSD: Market Is Looking Down! Sell!
Welcome to our daily EURUSD prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 1.07391
Wish you good luck in trading to you all!