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USOIL ( BETWEEN TWO TURNING LEVEL ) ( 4H )USOIL HELLO TRADERS currently price between two turning level by breaking each level determine the direction , for know the price trading above turning level (2) at 74.74 , remain this level it will be attempt to reach a turning level (1) at 76.25 . Tendency, the price inside two turning level around ( 74.74 & 76.25$) . Upward Zone : in order see increase , the price need breaking turning level (1) at 76.25 , by closing 4h candle above it , easily to reach a resistance level (1) around 78.53 , remain this level indicates the price trying to reach of a resistance level (2) at 80,75 . Downward Zone: by breaking turning level (2) around 74.74 , the price dropping to reach a support level (1) at 72.82, to confirm downward , gold need breaking support level (1) by open 4h candle below it to reach a support level (2) at 71.81 . TARGET LEVEL : RESISTANCE LEVEL : 78.53 , 80.75 . SUPPORT LEVEL : 72.82 , 71.81 .
TVC:USOIL
by ArinaKarayi
Believe it or not, Bitcoin is still in the gameDespite Bitcoin showing a bear market in recent days, it remains within a range and fluctuating within a demand zone. Our point of interest is still very high, but still valid for the price to take a break before the jump. if you can look the general structure, we can see that where I marked the green circle, there is a lot of buying pressure. This is also an area of interest that I had marked as a potential rebound point. We will see what happens in the coming days. Thank you for your support. -Mike
COINBASE:BTCUSDLong
by RocketMike111
Can Gold Surpass Its Recent Highs? Expert Analysis Inside!Key Levels: Higher High (HH): Marked near the top at around 2460. Lower High (LH): Slightly lower high indicating a possible trend change. Support/Resistance Zones: Key support/resistance levels are identified on the chart. Lower Time Frame (LTF) Lower High: Indicated by a yellow line, suggesting a lower high on a smaller timeframe within the larger trend. Liquidity Zones (LQZ): Marked on the 4-hour, 1-hour, and daily timeframes indicating potential areas of liquidity. Market Structure: Shorter Time Frame Higher Low: A higher low is indicated on a smaller timeframe, suggesting potential bullish continuation. Barley Missed HH and then pushed down: Indicates a failure to achieve a higher high, followed by a downward movement. Support Rejection: The market rejects off support, suggesting a possible formation of a new higher low (HL). Observations: The market is reacting to support and resistance levels, showing signs of potential trend continuation or reversal. The presence of multiple liquidity zones suggests areas where price might seek liquidity, influencing future price movements.
OANDA:XAUUSDLong
by Adlercon333
4
PG The Procter & Gamble Company Options Ahead of EarningsIf you haven`t bought PG before the previous earnings: Now analyzing the options chain and the chart patterns of PG The Procter & Gamble Company prior to the earnings report this week, I would consider purchasing the 165usd strike price Puts with an expiration date of 2024-9-20, for a premium of approximately $2.05. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NYSE:PGShort
by TopgOptions
PM Philip Morris International Options Ahead of EarningsIf you haven`t sold PM before the previous earnings: Now analyzing the options chain and the chart patterns of PM Philip Morris International prior to the earnings report this week, I would consider purchasing the 109usd strike price Calls with an expiration date of 2024-7-26, for a premium of approximately $1.22. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NYSE:PMLong
by TopgOptions
EUR/USD Key Levels: 1.075 - 1.081 - 1.066 General Overview: The EUR/USD pair has recently lost ground in a short-term bullish recovery, testing new two-week lows near the 1.0800 level, as the movement's momentum has drained out ahead of updates on EU GDP data. The latest Federal Reserve interest rate decision is expected on Wednesday, with a new round of US Nonfarm Payrolls (NFP) scheduled for Friday. Fundamental Analysis: The US Dollar (USD) started the week on a positive note, reversing consecutive daily gains in EUR/USD and testing three-day lows near the 1.0800 region. Expectations of interest rate cuts by the Federal Reserve (Fed) and the European Central Bank (ECB) after the summer break have influenced market dynamics. In terms of monetary policy, the Fed is expected to keep rates unchanged at the July 31 meeting, while the easing cycle is anticipated to begin in September. The ECB, according to recent comments from Vice President Luis de Guindos, may also cut rates in September. This policy divergence between the Fed and the ECB could lead to further weakening of the European currency in the medium term. Key Macroeconomic Data: Market participants will closely follow the release of preliminary Q2 GDP data from both Germany and the Eurozone, as well as advanced inflation data from Germany, scheduled for July 30. The preliminary Eurozone CPI report will be released on Wednesday, followed by the outcome of the FOMC monetary policy meeting. Finally, key US macroeconomic data, including the Nonfarm Payrolls (NFP) report scheduled for Friday, will be crucial in determining the next moves for the EUR/USD pair. Technical Outlook: From a technical perspective, spot prices showed resilience below the 50% Fibonacci retracement level of the June-July rally on Monday, although the lack of significant buying suggests caution for bulls. Oscillators on the daily chart are starting to gain negative traction, suggesting that the path of least resistance for EUR/USD is to the downside. Spot prices could weaken further below the 61.8% Fibonacci level near the 1.0775 region and test the next relevant support near the 1.0745 horizontal zone. This is closely followed by the 78.6% Fibonacci level near the 1.0730 area, below which EUR/USD could challenge the June monthly low, around the 1.0660 region, with some intermediate support near the psychological 1.0700 mark. Conversely, any subsequent move up is likely to confront resistance near the 1.0840-1.0845 region or the 38.2% Fibonacci level. Sustained strength beyond this could lift the EUR/USD pair above the 1.0865 horizontal barrier towards the 1.0885-1.0890 region. Continued buying beyond the 1.0900 level should allow bulls to aim back towards retesting the multi-month peak, around the mid-1.0900s.
Short
by Forex48_TradingAcademy
1
USDJPY - Top Down AnalysisStarting with the weekly timeframe, there's some quite noticable bearish Divergence with price action and RSI leading me to believe prices may continue further south. Let's take a look at the daily timeframe. On the daily timeframe, I have 2 bearish targets but first I need to see a bit of a pullback towards the descending level of resistance. Reason I'm looking for a bullish pullback is because RSI is currently in the oversold territory. We also have a BOJ interest rate decision this evening at 11:00pm EST. Let's take a closer look at the 4 hour timeframe On the 4 hr timeframe I'm waiting for a breakout of the current consolidating range. I'm hoping for a bullish breakout which will lead into my AOI (area of interest) to look for a shorting opportunity. Lastly let's take a look at the 1 hour. On the 1 hour timeframe, it's easier to see how much room to the upside I'm waiting for. If we reach the descending level of resistance, I'll monitor the bullish momentum to ensure I'm not entering a short when bulls are strong. For that reason I have an alert set in place and now all I need to do is wait! That's it - That's all Trade Safe
Short
by Michael_Harding
Bitcoin Showing Strength, Daily Volumetric bull candlesticks !Bitcoin is following the path according to the pullbacks we have been predicting since it fell to the demand zone. Please check each bullish candle that Bitcoin forms after each pullback, it shows strength every time Following the smart money concepts and with the movement it is making based on the structure, I am expecting Bitcoin to reach my point of interest very soon. However, before reaching my point of interest, I believe we have to consider that we will see 1 to 2 small pullbacks. Thank you for following my analysis.
COINBASE:BTCUSDLong
by RocketMike111
400 Pips in a Week! Discover the Secret Behind Trading Strategy!Technical Breakdown Ascending Channel Formation: The price has been moving within an ascending channel, indicating a bullish trend. The upper and lower boundaries of the channel have provided resistance and support, respectively. Support/Resistance Level: A key horizontal level around 2,430 has acted as both support and resistance. This level was tested multiple times, showing its significance in the price action. Bear Flags: Two bear flags are identified, one on the 15-minute chart and another on the 30-minute chart. Bear flags typically indicate continuation patterns in a downtrend, suggesting further bearish movement. Higher High (HH) and Lower High (LH): The chart shows a higher high (HH) followed by a lower high (LH), indicating a potential shift from a bullish to a bearish trend. Price Target (TP): The TP is marked at 2,348, suggesting a potential downside target based on the current technical setup.
OANDA:XAUUSD
by Adlercon333
2
Oil Prices Plunge Amid Global UncertaintyCurrent Price Movement: West Texas Intermediate (WTI) futures on the NYMEX have extended their downside, trading below $78.00. This decline is primarily driven by concerns over China's economic outlook and political uncertainty in the United States. Factors Influencing the Oil Price: China’s Economic Concerns: The People's Bank of China (PBoC) unexpectedly reduced its Loan Prime Rate by 10 basis points to 3.35% (one-year) and 3.85% (five-year). This rate cut follows weaker-than-expected Q2 GDP growth of 0.7%, below estimates of 1.1% and previous figures of 1.5%. As the world's largest oil importer, China’s economic slowdown raises concerns about future oil demand, exerting downward pressure on prices. Supply Outlook: Morgan Stanley forecasts an increase in oil supply by 2.5 million barrels per day by 2025 from OPEC and non-OPEC producers. The anticipated supply growth exceeds demand growth projections, contributing to the easing of tight market fears and further weakening oil prices. US Political Uncertainty: The potential nomination of Kamala Harris as the Democratic leader and speculation about Donald Trump’s potential victory in the upcoming presidential election have created political uncertainty. Trump’s promise to increase US oil production if elected could lead to a future increase in supply, adding downward pressure on oil prices. The US Dollar Index (DXY) has edged lower amidst this political uncertainty, affecting oil prices inversely. Global Economic Indicators: Preliminary S&P Global Manufacturing PMI data from various nations are expected to provide insights into the global demand outlook, which will further influence oil prices. Canadian Dollar (CAD) Dynamics: The USD/CAD pair has risen to near 1.3750, influenced by the sharp correction in oil prices. Canada, being a leading oil supplier to the US, sees its currency affected by oil price movements. The weakening CAD amidst declining oil prices reflects this relationship. Expectations of the Bank of Canada (BoC) cutting interest rates by 25 basis points to 4.5% due to easing price pressures and a cooling labor market also impact the CAD. US Economic Data: The trajectory of the US Dollar will be influenced by upcoming US economic data, providing clues about the Federal Reserve's interest rate decisions. Political developments, such as the withdrawal of Joe Biden's re-election bid, have added to the uncertainty, impacting the DXY and, consequently, oil prices.
TVC:USOILShort
by Forex48_TradingAcademy
1
EUR/USD: will it reach the level of 1.11?EUR/USD stays below 1.0900: The pair has defended gains in a context of a weak US Dollar (USD), despite risk aversion, which has supported the EUR/USD exchange rate. Focus on Political and Macroeconomic Data: Attention remains on US political updates and mid-tier economic data from both the EU and the US for fresh trading impetus. Key Technical Levels Resistances: First resistance at 1.0950. Followed by the March high at 1.0980. Psychological level at 1.1000. Supports: June low at 1.0668. May low at 1.0650. 2024 annual low at 1.0600. Fundamental Factors Factors Affecting the US Dollar: The USD regained momentum on Thursday, pushing the USD Index (DXY) above the 104.00 level, thanks to a rebound in US yields. Prospects of Fed rate cuts, with the CME Group's FedWatch Tool indicating a nearly 98% probability of lower rates at the September 18 meeting and another cut expected in December. Factors Affecting the Euro: The ECB maintained a dovish stance at Thursday's meeting, with a slight uptick in German 10-year Bund yields. Christine Lagarde highlighted expectations of a recovery supported by consumption, with a resilient labor market and high domestic inflation. The ECB projects that the Harmonized Index of Consumer Prices (HICP) will reach the target in the second half of 2025. Monetary Policy Outlook: Ongoing debate about how many times the Fed will cut rates this year, despite the current projection of a single cut. Prospects of Fed rate cuts occasionally support EUR/USD, reducing the gap between the Fed's and the ECB's monetary policies. Outlook and Prospects Short-Term Prospects: The trading dynamics for the EUR/USD pair will likely be influenced by upcoming Fed speeches and economic updates from both the US and the Eurozone. The loss of bullish momentum indicated by the 4-hour chart suggests caution, but defending key levels like the 200-SMA and the indicated supports could provide further bullish impetus. Medium-Long Term Prospects: If the EUR/USD convincingly surpasses the 200-SMA, further gains may be on the horizon. However, failure to do so could lead to a test of lower support levels.
Long
by Forex48_TradingAcademy
1
WTI Oil Price Analysis: Market Dynamics and Global ChallengesCurrent Situation: The price of West Texas Intermediate (WTI) has experienced a slight decline due to the strengthening of the US dollar (USD), supported by rising yields. Currently, the price of WTI is around $81.20 per barrel during European hours on Thursday, after gaining ground in the Asian session due to a larger-than-expected drop in US crude oil inventories. Supply and Demand: The reduction in US crude oil inventories has been significant. The Energy Information Administration (EIA) reported a decrease of 4.87 million barrels for the week ending July 12, a figure much higher than the expected drop of 0.80 million barrels and the previous decrease of 3.443 million barrels. This decline in inventories may suggest robust domestic demand, which can have a positive effect on oil prices. Impact of Monetary Policies: Expectations that the Federal Reserve (Fed) will reduce interest rates in September could improve economic conditions in the United States. With lower borrowing costs, economic activity could increase, which in turn could support oil demand. Statements by Fed Governor Christopher Waller and Richmond Fed President Thomas Barkin indicate a possible rate cut, which could further incentivize oil demand. Market Pressures: Despite some positive signs, the overall decline in commodity demand expectations continues to threaten the energy complex. According to Daniel Ghali, senior commodity strategist at TDS, the absence of an increase in supply risk premia could continue to exert downward pressure on prices. However, Commodity Trading Advisors (CTAs) still have substantial resources to deploy in the market, which could limit price declines in the short term, barring a significant downturn. Global Challenges: Another challenge for WTI oil prices is the economic slowdown in China in the second quarter, which reduces demand from the world's largest oil-importing country. Increasing trade tensions, with new tariffs on Chinese electric vehicles imposed by the United States and the European Union, contribute to an uncertain global economic outlook, negatively impacting oil demand.
TVC:USOILShort
by Forex48_TradingAcademy
1
Gold's Next Big Move: Is This the Reversal Point?4-Hour Chart Analysis Trend Identification: Higher Highs (HH): The chart shows a consistent formation of higher highs (HH) which indicates an overall uptrend. Higher Lows (HL): The chart also demonstrates higher lows (HL), further confirming the uptrend. Key Levels: Resistance Levels: Around 2,480 and above are marked by HH. Support Levels: 2,429.42 (1HR LQZ / Reversal Point) 2,391.39 (4HR LQZ / TP 1) 2,349.05 (TP 2) 2,288.09 (TP 3) 2,265.37 (TP 4) Price Action: Triangle Pattern: A triangle pattern formed in June indicating consolidation before a breakout. Current Movement: The price has moved up to a higher high but is currently in a retracement phase, testing the 1HR LQZ / Reversal Point around 2,429.42. Projection: Potential Reversal: If the price holds above the 1HR LQZ / Reversal Point, it may indicate a reversal back towards the higher levels around 2,480. Support Tests: Failure to hold may lead to testing lower support levels at 2,391.39 (4HR LQZ / TP 1) and potentially further down to TP 2, TP 3, and TP 4. 1-Hour Chart Analysis Detailed View: Provides a closer look at the recent price movements. Confirms the higher highs observed in the 4-hour chart. Key Observations: Recent High: The price recently reached a new high around 2,480 before retracing. Immediate Support: The price is testing the 1HR LQZ / Reversal Point around 2,429.42, aligning with the 4-hour chart observations. Trading Opportunities: Long Position: If the price shows strong bullish signals and holds above the 1HR LQZ / Reversal Point. Short Position: If the price breaks below the 1HR LQZ / Reversal Point, with targets at lower support levels identified in the 4-hour chart. Summary The charts indicate an overall uptrend with recent higher highs and higher lows. Current price action is in a retracement phase, testing key support levels. Monitoring the 1HR LQZ / Reversal Point will be crucial for determining the next move, whether it will resume the uptrend or test further support levels. If you need further analysis or specific trade recommendations, feel free to ask!
COMEX:HG1!Short
by Adlercon333
US Banks Set a Bullish Tone at the Start of Earnings SeasonUS Banks Set a Bullish Tone at the Start of Earnings Season Company earnings reports for the second quarter will be a crucial driver of stock market movements in the coming weeks. Traditionally, the largest banks kick off the earnings season, and their performance indicators today are setting a bullish tone. For example: Bank of America (BAC), report published on 16th July: → Earnings per share: actual = $0.83, expected = $0.797; → Gross income: actual = $25.37 billion, expected = $25.22 billion; Goldman Sachs (GS), report published on 15th July: → Earnings per share: actual = $8.62, expected = $8.35; → Gross income: actual = $12.73 billion, expected = $12.35 billion. Other major banks, including JPMorgan Chase (JPM), Citigroup (C), and Wells Fargo (WFC), have also surpassed analysts' expectations. Although following different trajectories, the stock prices of all the listed banks have generally been rising after the publication of their earnings reports. Notably, the formation on the XLF chart is interesting – this is the Financial Select Sector SPDR Fund ETF, which is focused on the financial sector and includes the shares of the largest US banks. You can trade this ETF with FXOpen, taking advantage of CFD instruments. Technical analysis of the XLF chart shows that: → In 2022-2023, the price was in a broad trading range of 30.70-36.6; → In 2023-2024, the price formed an upward channel (shown in blue); → The median line of this channel acts as support; → Rising lows A and B resemble a bullish Cup and Handle pattern. In the wake of the successful bank reports: → the XLF price broke through the 42.20 level, which had been acting as resistance since the end of March; → the RSI indicator entered the overbought zone. It is possible that amid positive earnings reports from other companies in the financial sector: → the XLF price could reach the upper boundary of the blue channel; → the RSI indicator could form a divergence; → subsequently, a correction may form on the chart as investors may wish to lock in profits from the rapid growth. 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.
AMEX:XLF
by FXOpen
1
High-Impact News Trading StrategiesHigh-Impact News Trading Strategies Trading in the dynamic world of foreign exchange demands a constant adaptation to the ever-evolving factors influencing currency markets. Among these factors, high-impact forex news stands out as a catalyst capable of reshaping market action. In this article, we explore some of the nuances of high-impact news trading, aiming to offer insights that may help manage high volatility and harness its power. Trading High-Impact News Understanding which news releases wield significant influence over the forex market and what market reaction can be expected is paramount for any trader. Forex News with High Impact High-impact news includes events like interest rate decisions, inflation rates, retail sales, consumer spending, labour market data, and nonfarm payroll reports. The impact of these events can be profound, affecting market sentiment and, thus, currency values. Traders keen on mastering this domain must comprehend the dynamics that drive market reactions to such news and position themselves accordingly. It's important to note that these news events can cause extreme volatility in either direction, creating both challenges and opportunities. Forex News Impact Analysis Traders analyse the potential impact of events on currency pairs, employing a combination of technical and fundamental analysis. Fundamental Impact of Economic Data Fundamental analysis involves evaluating the economic factors that underpin a currency's value based on the country's economic health. Traders delve into the consensus forecast, scrutinise historical data, and gauge the prevailing economic climate to gain insights into how these fundamental elements might shape market reactions. Technical Analysis Simultaneously, technical analysis plays a vital role in deciphering the market sentiment and potential price movements. Utilising technical analysis tools such as indicators, support and resistance levels, and trendlines, traders can identify key entry and exit points. By integrating technical analysis, traders gain a more comprehensive view of the market, potentially enhancing their ability to make informed decisions. Forex News Trading Strategies Considering the expected impact of economic data and utilising advanced technical analysis tools based on past forex rates performance, traders can design viable trading strategies at times of major news releases. Retracement Trading: Unveiling Potential Reversals Retracement trading is a strategic approach that capitalises on market pullbacks following significant movements triggered by high-impact news. Look at the example of trading on the US CPI announcement in November 2023: - Fibonacci Retracement: Helps identify key support and resistance areas where price corrections may occur. - Moving Averages: The 9- and 20-period MAs can be applied as a trend confirmation. Entry Traders identify significant Fibonacci retracement levels, typically 38.2%, 50%, 61.8%, or 78.6%, and look for alignment with a bullish/bearish MA crossover to confirm entry points for a long/short position. Stop Loss Stop loss may be placed just below (for long positions) or above (for short positions) the identified Fibonacci retracement level to safeguard against unexpected market reversals. Take Profit A potential signal for a take-profit point could be an MA crossover in the opposite direction of a trade following a failed attempt of the price to break a resistance/support level that coincides with a Fibonacci extension level. Do you already have a strategy for the upcoming high-impact forex news today? Visit FXOpen and trade on the free TickTrader forex trading platform. Trend-Change Trading Strategy Trading during major news releases demands a nimble and precise approach to capitalise on medium-term price fluctuations. This strategy incorporates three technical indicators simultaneously to evaluate the strength of the price movement and determine potential entry and exit points. In this approach, we utilise: - Relative Strength Index (RSI): Identifying overbought or oversold conditions. - Stochastic Oscillator: Gauging the strength of a price trend. - Average True Range (ATR): Measuring market volatility, helping to settle appropriate stop-loss levels. Entry Following a major price move on the news event, traders could identify weakness in an uptrend/downtrend by observing the divergence of both RSI and Stochastic indicators with the price movement. A potential entry for a long/short position involves aligning bullish/bearish signals from RSI and Stochastic, such as crossing above/below oversold/overbought areas. Stop Loss Stop loss could be placed just below recent lows or above recent highs for long and short trades, respectively, factoring in the ATR to account for potential market volatility. Take Profit Traders may determine possible take-profit points by considering bearish/bullish signals from RSI and Stochastics. Exploiting Increased Volatility Trading during high-impact news events requires a specialised strategy that accounts for increased market volatility. A sound volatility-based approach implements specific indicators so traders may be able to capitalise on rapid forex rate deviations. The chart shows trading on Japan’s industrial production data release at the end of October 2023, and we use: - Bollinger Bands: These help identify potential surges in volatility through band expansion. - ATR (Average True Range): This can be used for trailing stop-loss levels - MACD (Moving Average Convergence Divergence): A surge in buying or selling pressure can be reflected in MACD crossovers. Entry Traders would monitor Bollinger Bands for an expansion preceding news events. Price cross above/below the middle Bollinger Band after the release may signal an entry point for long/short positions. This should align with a bullish/bearish MACD crossover. Stop Loss Traders may place stop-loss orders just beyond recent price extremes to account for potential market reversals and limit possible losses and use the ATR indicator to calculate trailing stop-loss levels. Take Profit A possible take-profit level for long/short trades can be derived from a bearish/bullish reversal of the MACD indicator, or it can be set based on the expected price range derived from the ATR. Concluding Thoughts Trading high-impact forex news requires a mix of market analysis, risk management, and strategic execution. By understanding the dynamics of high-impact events and implementing robust trading strategies, traders may navigate the volatility inherent in these situations. Ready to trade on major economic news? You can open an FXOpen account and try out your strategies. 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.
Education
by FXOpen
5