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XAUUSD: Nonfarm Payrolls holds the key!XAU/USD is experiencing a second consecutive day of decline, although it has managed to rebound from its recent low and is currently trading around 1,190. On the daily chart, technical analysis indicates that the 20 Simple Moving Average (SMA) is showing a bearish trend below the 100 SMA, acting as a resistance level at 1,930.70. The 200 SMA, on the other hand, is losing its bullish momentum well below the current level. Additionally, the technical indicators are displaying neutral to bearish slopes within negative levels, suggesting that the downside risk remains. Looking at the 4-hour chart, bears are currently dominating the XAU/USD pair. It is trading below all of its moving averages, with the 20 SMA gaining strength in its bearish trend below the longer ones. Moreover, the technical indicators are trending downwards and approaching oversold levels. Support levels: 1,903.00 1,892.95 1,877.10 Resistance levels:1,922.50 1,930.70 1,945.20
OANDA:XAUUSDLong
by Sphyn-Trader
11
Time to go long on AUDUSDThis pair has been retracing for a few days now. I believe that after Wednesday's close, price is very close to reversing. The presentation of an indecision candle on top of a major support and between the 23.6% and 38.2% fib, signifies that momentum is slowing down for bears. I would wait for more bearish activity during following hours, and potentially for buyers to come in while there's volatility. Reversal candlesticks on top of this support are valid buy opportunities for at minimum 80pips. Look to buy after a false breakout to the downside or after the final low.
Long
by DesharedPierreJr.
NZD/JPY Short, USD/JPY Short and AUD/USDNZD/JPY Short • If price impulses down, it does so in a convincing manner and a subsequent tight flag forms, then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. USD/JPY Short • If price pushes up above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. AUD/USD Short • If price impulses down below our area of value, it does so in a convincing manner and a subsequent tight flag forms, then I'll be looking to get short with a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. AUD/USD Short • If price impulses down below our area of value, it does so in a convincing manner and a subsequent tight flag forms, then I'll be looking to get short with a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
Short
by StewySongs
5