Get started

Tradingideas

GOLD ROUTE MAP UPDATEHey Everyone, Another PITASTIC day on the chart with our chart idea playing out perfectly once again. After completing our Bullish target at 2631 yesterday we stated that we were now looking for ema5 cross and lock above 2631 to open the range above. We got the cross and lock above 2631 opening 2644 and if momentum allows potentially 2658. 2644 was hit perfectly completing this target!!! A candle body close or cross and lock will further confirm the potential target aswell. We are happy with 2644, as our target in this range and now observing for the rest of today. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before, each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2631 - DONE EMA5 CROSS AND LOCK ABOVE 2631 WILL OPEN THE FOLLOWING BULLISH TARGET 2644 - DONE POTENTIALLY 2658 BEARISH TARGETS 2618 - DONE EMA5 CROSS AND LOCK BELOW 2618 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2603 - 2588 EMA5 CROSS AND LOCK BELOW 2588 WILL OPEN THE SWING RANGE SWING RANGE 2575 - 2558 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
17
The Fed is testing the economy with 50 interest rate pointsThe 50bp reduce withinside the federal finances price to 5.0% surpassed Fitch`s expectancies in its September 2024 Global Economic Outlook. The length of the pass changed into difficult to justify primarily based totally on incoming financial data, with center offerings CPI inflation closing excessive at 4.9% 12 months-on-12 months in August and growing to 0.4% month-on-month. The selection appears partly to mirror a `hazard assessment` detail in reaction to latest labour marketplace dynamics, wherein the unemployment price has risen to 4.2% in August from 3.7% in December 2023. While the Fed`s brand new forecasts display unemployment closing low, Fed Chair Jerome Powell made severa references on the post-assembly press convention to the hazard that unemployment could - unexpectedly - maintain to rise. Significant enhancements in center inflation due to the fact that July 2023 have enabled the Fed to refocus at the most employment thing of its twin mandate, after having had a unique attention on inflation due to the fact that early 2022. 💎 OANDA:XAUUSD Buy 2606 - 2603💎 ✔️TP1: 2616 ✔️TP2: 2626 ✔️TP3: OPEN 🚫SL: 2593 ➖➖➖➖➖➖➖➖ 💎 OANDA:XAUUSD Sell 2634 - 2637💎 ✔️TP1: 2620 ✔️TP2: 2610 ✔️TP3: OPEN 🚫SL: 2644
OANDA:XAUUSDShort
by FalCol_TradingMaster
Market News Report - 22 September 2024It was a historic week in FX, as the Fed delivered a half-percent interest rate cut for the first time since 2020. Based partly on this news, currencies like the British pound and the Australian dollar found strength across numerous markets. In our latest news report, let's see what to expect from all the major forex markets performance-wise. Market Overview Below is a brief technical and fundamental analysis breakdown for all major currencies. US dollar (USD) Short-term outlook: bearish. Unsurprisingly, the Fed delivered a dovish move with a historic 50 basis points (bps) rate cut. So, the bearish bias firmly remains, with signals of two 25 bps cuts in the pipeline for the rest of 2024. Furthermore, unemployment was recently revised higher. The DXY chart aligns perfectly with the fundamentals, having recently reached a major support area (100.617) on the daily chart. Interestingly, a clear break has yet to occur after several weeks. So, be mindful of a potential technically driven retracement. Meanwhile, the key resistance is far away at 107.348, which will remain untouched for some time. Long-term outlook: weak bearish. Markets anticipate several full rate cuts before the year ends, with the Fed being keen to harness a soft landing. Also, any data on weakened jobs would be another bearish driver for the dollar. However, any potential strength in upcoming GDP (Gross Domestic Product) and jobs would make rate cuts less urgent, allowing for a USD retracement. Euro (EUR) Short-term outlook: weak bearish. As usual, the STIR (short-term interest markets) were predictably accurate as the European Central Bank (ECB) cut the interest rate. While 'being mum' about forward guidance, they revised core inflation projections higher. Sources report that a cut in October is unlikely, but one in December is more likely. Meanwhile, the chart tells a slightly different story. After recently breaking a major resistance, the next target is 1.12757. Meanwhile, the key support area lies far below at 1.07774. Long-term outlook: weak bearish. The ECB hasn't committed to a specific future path with the interest rate. Due to lingering concerns over services inflation, a rate cut in October is less likely, with a 76% chance of a hold (according to STIR markets). So future inflation data remains key, with improvements likely to tick the euro higher. We should note that the interest rate differential has become more positive for EUR after the latest Fed cut. British pound (GBP) Short-term outlook: bearish. The Bank of England (BoE) kept the interest rate steady in last week's meeting. Still, the language indicates they need to be "restrictive for sufficiently long." As with the ECB, the central bank's current key theme is fighting persistent inflation in the United Kingdom. So, it makes more sense to be dovish than hawkish. Expect any shocks in inflation (or other data like labour) to send the pound lower. Like the euro, the British pound has been saved by dollar weakness on the charts. However, it is more bullish. We must go onto the weekly chart to see the next resistance target at (1.34825). However, it hasn't yet properly broken the closest area at 1.32666. On the other hand, the nearest key support is far away at 1.26156. Long-term outlook: bearish. Sequential rate cuts by the BoE may soon be a reality. Also, expect any weak CPI, labour, and GDP data to back up the bearish bias. Another interesting point is the latest CFTC (Commodity Futures Trading Commission) report, showing that GBP longs have been stretched to the upside. So, bullishness should be limited. Japanese yen (JPY) Short-term outlook: bullish. The primary bullish catalyst is the Bank of Japan's (BoJ) recent decision to hike the interest rate. STIR markets expect a hold (99% probability) at the next meeting but a hike at the start of next year. ​​Governor Ueda of the BoJ noted that despite domestic economic recovery, recent exchange rate movements have reduced the upside risk of inflation. All of this backs up the potential for a rate hold or hike. USD/JPY has long been bearish, recently surpassing (but not breaking with confidence) the major resistance at 140.252. Meanwhile, the major resistance (at 161.950) is too far for traders to worry about. Long-term outlook: weak bullish. Lower US Treasury yields are one bullish catalyst for the yen. Inflation pressures and wage growth would also provide upward momentum. We should also consider that the dovish tendencies of other major central banks are JPY-positive. Australian dollar (AUD) Short-term outlook: weak bullish. The Reserve Bank of Australia (RBA) unsurprisingly kept the interest rate unchanged not long ago to keep the fight against persistent inflation rate. (Diarise the upcoming rate statement on Tuesday for AUD.) Governor Bullock also stressed that the latter's results need to improve before a cut is envisioned. The Aussie remains sensitive to China's recent economic woes, especially with declining iron ore prices from the country's steelmakers. The Aussie market has risen noticeably of late, having exceeded the recent resistance level (at 0.68239). While the next nearby target is 0.68711, we need to see how it behaves near the latter. Meanwhile, the major support level is down at 0.63484. Long-term outlook: weak bullish. The RBA remains hawkish as per their last meeting, focusing on core inflation. Overall, it's crucial to be data-dependent with the Aussie, with recent labour data keeping the bullish script alive. However, the Australian dollar is pro-cyclical, so it is exposed to slow economic growth in other countries. New Zealand dollar (NZD) Short-term outlook: weak bearish. New Zealand's central bank recently dropped the Kiwi's interest rate from 5.50% to 5.25%. Lower-revised cash rate projections also hint at the potential for further cuts in the near future. The Kiwi has recently breached a major resistance at 0.62220. While the next target is at 0.63696, the latter area is still worth considering. Conversely, the major support is at 0.58498, an area which it is unlikely to test soon. Long-term outlook: weak bearish. In its latest meeting, the central bank's dovish stance (where it cut the interest rate) puts the Kiwi in a 'bearish bracket.' However, as a risk-sensitive currency like the Aussie, any growth data in China could trigger bullishness for NZD. As with its counterpart, traders should be data-dependent. Canadian dollar (CAD) Short-term outlook: bearish. The Bank of Canada (BoC) dropped the interest rate to 4.25%, as anticipated by the markets for some time. Further cuts in the next few meetings are on the cards, with the long-term target being 3%. Rising unemployment and weak economic growth are the key drivers for this dovishness. The ongoing mortgage stress remains another bearish catalyst. The CAD continues to strengthen mildly due to USD weakness. It now looks to test the next major support target at 1.33586, while the major resistance is far ahead at 1.39468. Long-term outlook: weak bearish. Expectations of a rate cut remain the focal point. Governor Macklem himself stated some time ago that it's reasonable to expect more cuts in the future. Moreover, STIR markets have priced in an additional cut sometime this year. The mortgage stress remains a major factor in this interest rate policy, and the BoC will have to cut rates to alleviate it. Still, this narrative is getting tired. Expect encouraging oil prices, along with general economic data improvement, to save the Canadian dollar's blushes. Swiss franc (CHF) Short-term outlook: bearish. STIR markets forecast a 25bps rate cut this week (a 43% chance, up from 36% in the last week) and a 50bps cut in December this year. Secondly, SNB expects a moderate improvement in inflation, GDP (Gross Domestic Product), and unemployment to rise slightly in the near term. Still, the Swiss franc can strengthen during geopolitical tensions, such as a worsening Middle East crisis. We are seeing a clear range on USD/CHF in a strong bear move. So, let's see which side the market is going to incline more towards going forward. The major support level is closer at (0.83326), while the major resistance level is far higher at 0.92244. Long-term outlook: weak bearish. The expected rate cut in the next SNB meetings for 2024 is the main bearish driver. However, the SNB's chairperson, Thomas Jordan, expressed that "appreciation of the Swiss Franc has an impact on monetary policy." This means that potential intervention by the central bank can go either way. Conclusion This week should be milder than the previous one filled with interest rate decisions. The main high-impact economic release to watch out for is the RBA rate statement on Tuesday. As always, hope for the best and prepare for the worst, but this report should help you determine your bias toward each currency.
by CityTradersImperium_CTI
GOLD ROUTE MAP UPDATEHey Everyone, Great start to the week with both our Bearish target 2618 and Bullish target 2631 hit, just like we said. No cross and lock below 2618 gave the rejection bounce twice into 2631. We will now look for ema5 cross and lock above 2631 to open the range above. Failure to lock above 2631, will follow with a rejection back to 2618 We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2631 - DONE EMA5 CROSS AND LOCK ABOVE 2631 WILL OPEN THE FOLLOWING BULLISH TARGET 2644 POTENTIALLY 2658 BEARISH TARGETS 2618 - DONE EMA5 CROSS AND LOCK BELOW 2618 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2603 - 2588 EMA5 CROSS AND LOCK BELOW 2588 WILL OPEN THE SWING RANGE SWING RANGE 2575 - 2558 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
37
Gold hits all-time high every day?Gold touched a file excessive in advance of US facts that`s predicted to offer clues on whether or not the Federal Reserve`s 50-basis-factor fee discount ultimate week could be the primary in a chain of competitive cuts. Bullion rose as a lot as 0.2% to hit $2,625.89 an ounce, beating the preceding all-time excessive published Friday. Traders are weighing the outlook for charges in advance of a batch of essential financial facts — which include the United States private intake prices gauge and jobless claims — due later withinside the week. Fed Governor Christopher Waller stated on Friday he`d possibly returned quarter-factor cuts at every of the following critical financial institution coverage conferences in November and December, need to the financial system evolve as he expects. Still, he stated any other half-percentage-factor reduce may want to eventuate if the process marketplace weakens. Gold investors have been additionally tracking escalating tensions withinside the Middle East, on worries combating among Hezbollah and Israel may want to expand into a much wider nearby conflict. That could possibly bolster the metal`s haven status. 💎 OANDA:XAUUSD Buy 2559 - 2561💎 ✔️TP1: 2570 ✔️TP2: 2590 ✔️TP3: OPEN 🚫SL: 2550 ➖➖➖➖➖➖➖➖ 💎 OANDA:XAUUSD Sell 2630 - 2632💎 ✔️TP1: 2620 ✔️TP2: 2610 ✔️TP3: OPEN 🚫SL: 2640
OANDA:XAUUSD
by FalCol_TradingMaster
GOLD 1H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are in a new rage but just like last time we were able to generate accurate levels to use for the coming week. We are seeing price between two weighted levels. We have 2631 Goldturn resistance and 2618, as Goldturn support. We currently have a gap above on market open at 2631 and below at 2618 and will need ema5 cross and lock on either weighted level to determine the next range. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2631 EMA5 CROSS AND LOCK ABOVE 2631 WILL OPEN THE FOLLOWING BULLISH TARGET 2644 POTENTIALLY 2658 BEARISH TARGETS 2618 EMA5 CROSS AND LOCK BELOW 2618 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2603 - 2588 EMA5 CROSS AND LOCK BELOW 2558 WILL OPEN THE SWING RANGE SWING RANGE 2575 - 2558 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
24
DAILY CHART MID/LONG TERM CHART UPDATEHey Everyone, Please see update on our daily chart structure that we have been tracking and trading successfully for a while now. Previously the candle body close above 2521 opened 2566, which was hit perfectly. We then hade a candle body close above 2566 leaving a long term gap to 2608 and we also stated that if we get a ema5 lock then this will further strengthen the gap. Usually the higher timeframes may not have room for ema5 lock so a candle body close is also suffice. On this occasion last week we got both the body close and ema5 lock and then our target was complete perfectly allowing us plenty of time to get in for the action after confirmation. We now have a candle body close above 2608 leaving a longer range/term target open at 2650 and, as usual ema5 cross and lock will further confirm this. We have to also keep in mind that we have a support range between 2566 - 2521 for longer range support areas to buy strategic dips, should the corrections take place before completing gaps above. We will use smaller timeframe analysis and trading plans to navigate the range in true level to level fashion. Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our levels and setups. Buying dips allows us to safely manage any swings rather then chasing the bull from the top. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
4
WEEKLY CHART MID/LONG TERM CHART UPDATEHey Everyone, Please see update on our weekly chart idea and analysis that we have been tracking and trading for several months and now finally complete. After completing all the previous targets and highlighted correctional areas from detachments, last week we stated that we now have a candle body close above 2557 leaving a long term Axis gap target to 2603, which we had shared on this chart number of weeks back. We also stated that the new weekly candle will have a detachment below for a correction, which will show up when market opens. - This played out perfectly, we got the drop into the correctional area highlighted with the circle on the chart and then the bounce giving our target at 2603 axis a Perfect finish - BOOOOM!!! This weekly chart idea is now complete after tracking and trading this for several months. We will now update a new weekly chart plan and idea next week for the months ahead. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
3
GOLD MONTHLY CHART LONG TERM/RANGE ROUTE MAPHey Everyone, After completing our last monthly chart long term/range chart idea, we never had a chance to update a new long term plan and so here you go!!! 2499 candle body close left a gap open last month to 2589. This gap was hit perfectly this month at 2589. We are now seeing play above 2589 but will need the month candle to close above this level to open 2702 AXIS target. Failure to close above this level this month will see a rejection into the channel top for a bounce and a further close below the channel top or 2499 will see a further drop into the channel half line for the next correctional test and bounce. Each of the lower Goldturn levels below are likely to give re-actional bounces using our shorter time frame idea. 2825 is our final long range/term target on this chart idea and we will look to continue to buy dips using our smaller timeframe ideas rather then chasing the bull form the top. As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
FOREXCOM:XAUUSD
by Goldviewfx
11
GOLD ROUTE MAP UPDATEHey Everyone, And another PIPTASTIC finish to the week, completing all our Bullish targets!! After completing the first round of targets yesterday, we stated that we will now look for ema5 cross and lock above 2591 to open 2603 and 2615. We got the lock above 2591 and then followed with the perfect hit on 2603 and 2615 completing the targets to perfection. BULLISH TARGET 2581 - DONE EMA5 CROSS AND LOCK ABOVE 2581 WILL OPEN THE FOLLOWING BULLISH TARGET 2591 - DONE EMA5 CROSS AND LOCK ABOVE 2591 WILL OPEN THE FOLLOWING BULLISH TARGET 2603 - DONE POTENTIALLY 2615 - DONE BEARISH TARGETS 2567 - DONE EMA5 CROSS AND LOCK BELOW 2567 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2554 (DONE) - 2538 We will now come back Sunday with our updated Multi time-frame analysis, Gold route map and trading plans for the week ahead. Have a smashing weekend!! And once again, thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
18
USDJPY - at most expensive supporting area, holds or not??#USDJPY.. well guys market just dropped and reached near to his one of the most important supporting area of the year. that is 141.10 keep close that supporting area because that is only hope for buyers. any kind of weakness below that will be very expensive for buyers and for Japan as well. one thing is keep in mind that below 141.00 cut n reverse will be a good option on confirmation. don't be lazy here. good luck trade wisely
by AdilHussain731333
S&P 500 forecast: Outsized rate cut music to bulls’ ears. S&P 500 forecast: The US stock market has shown impressive resilience following the recent volatility. Investors, thrilled by the Federal Reserve’s outsized rate cut, have pushed index futures higher. However, there are mixed opinions about what lies ahead. For now, it looks the S&P 500 will finish the week at a fresh record high. Fed’s Rate Cut and Its Impact on Markets The Federal Reserve’s decision to deliver a 50-basis point rate cut was largely welcomed by investors. The move was seen as a bold but necessary step to ease economic concerns without sending panic signals reminiscent of the 2008 financial crisis. Fed Chair Jerome Powell emphasised that the cuts are not part of a long-term strategy but rather a proactive measure aimed at stabilising growth, now that inflation appears to be on the path of returning to its target. Markets initially sold off but quickly rebounded, with S&P 500 futures suggesting a potential new record high is on the horizon at the cash open today. The Dot Plot projection also boosted investor confidence, showing a possible 50 basis points of cuts this year and 100 next year, with the terminal rate expected to hit 3.0% by 2026. But what now? Can the S&P 500 Rally Continue? With the S&P 500 up nearly 19% year-to-date, investors are wondering if the rally can be sustained. On the surface, it appears that market sentiment is bullish, bolstered by the Fed’s actions and a series of robust earnings reports. Yet, looming risks, such as global economic slowdown in the Eurozone and China, may challenge this optimism. Moreover, seasonal trends indicate that September is typically a tough month for equities, adding a potential headwind to the current rally – although so far this hasn’t held investors back. With the US presidential election approaching, market volatility could spike, leaving investors hesitant to dive into new rallies without a clear trend. S&P 500 forecast: Technical Analysis and Key Levels to Watch Despite some volatility after the Fed’s rate cut, the S&P 500’s bullish trend remains intact. Traders should keep an eye on the support range between 5613 and 5670, with the upper end of this range marking the high from July. As long as the index holds above this support area, the short-term path of least resistance will remain upwards, potentially keeping the market on course to head towards 5800 or even the 127.2% Fibonacci extension level of 5827, derived from the drop in July. However, a dip below 5613 would signal a shift towards bearish sentiment, potentially pushing the index down to its next support and short-term trendline around the 5480-5500 area. Bearish Risks and Market Sentiment While the bulls are currently in control, bearish traders are watching for signs of a reversal. A drop below recent lows, as suggested above, could signal the end of the short-term bullish bias, reminiscent of the July sell-off when overbought conditions led to a sharp decline. Then, the signal came in the form of a bearish engulfing candle on 17 July. Bearish traders need to wait for a similar confirmation before making any significant moves, given the overall bullish structure of this market. Risk Management in a Volatile Market Regardless of whether you're bullish or bearish, managing risk is critical in today's market. With heightened uncertainty surrounding the economy and upcoming elections, volatility is expected to remain high. Traders should stay nimble and be prepared for sudden shifts in the market’s direction. In conclusion, while the S&P 500 forecast remains cautiously optimistic, several factors could derail the current rally. Staying informed and agile will be essential for navigating the coming weeks. We will, of course, highlight any major shifts in the trends, if observed. Stay tuned. -- Written by Fawad Razaqzada, Market Analyst
WHSELFINVEST:USSP500CFDLong
by WHSelfInvest
GOLD ROUTE MAP UPDATEHey Everyone, What can I say.....Another PIPTASTIC day on the charts today!! We got the break below 2567 opening the retracement range, which gave the perfect bounce into the upper Goldturns 2581 and then 2591, completing our open Bullish target that we highlighted earlier this week. - BOOOOOM!! We will now look for ema5 cross and lock above 2591 to open the range above or failure to lock will follow with a rejection into the lower Goldturns for support and bounce on the weighted levels. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2581 - DONE EMA5 CROSS AND LOCK ABOVE 2581 WILL OPEN THE FOLLOWING BULLISH TARGET 2591 - DONE EMA5 CROSS AND LOCK ABOVE 2591 WILL OPEN THE FOLLOWING BULLISH TARGET 2603 POTENTIALLY 2615 BEARISH TARGETS 2567 - DONE EMA5 CROSS AND LOCK BELOW 2567 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2554 (DONE) - 2538 EMA5 CROSS AND LOCK BELOW 2538 WILL OPEN THE SWING RANGE SWING RANGE 2516 - 2506 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
20
GOLD ROUTE MAP UPDATEHey Everyone, Another great day on the charts today with our chart idea playing out, as analysed. Yesterday after hitting the bearish target 2567, we stated that we need ema5 to cross and lock below 2567 to open the retracement range for a test and failure to lock below 2567 and we will see the Goldlturns above being re-tested. - No cross below 2567 confirmed the bounce and gave multiple bounces off this level of over 30 to 40 pips, just like we analysed and now left 2581 open for a re-test, which fell short by just a few pips. We will see price range between 2567 and 2581, until we see a cross and lock on either level to confirm breakout to the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We are taking extra caution with our buys in this new range, as bigger corrections are likely. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2581 - DONE EMA5 CROSS AND LOCK ABOVE 2581 WILL OPEN THE FOLLOWING BULLISH TARGET 2591 EMA5 CROSS AND LOCK ABOVE 2591 WILL OPEN THE FOLLOWING BULLISH TARGET 2603 POTENTIALLY 2615 BEARISH TARGETS 2567 - DONE EMA5 CROSS AND LOCK BELOW 2567 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2554 - 2538 EMA5 CROSS AND LOCK BELOW 2538 WILL OPEN THE SWING RANGE SWING RANGE 2516 - 2506 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
8
GOLD ROUTE MAP UPDATEHey Everyone, Slow start to the week with ranging movement following on from the breakout last week into this ATH range. However, as analysed we got the first Bullish target hit today at 2581 during Tokyo session. We now have a ema5 lock above 2581 opening upto 2591, which gave just over 40 pips and remains open. We need to also keep in mind the Bearish gap below at 2567. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We are taking extra caution with our buys in this new range, as bigger corrections are likely. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2581 - DONE EMA5 CROSS AND LOCK ABOVE 2581 WILL OPEN THE FOLLOWING BULLISH TARGET 2591 EMA5 CROSS AND LOCK ABOVE 2591 WILL OPEN THE FOLLOWING BULLISH TARGET 2603 POTENTIALLY 2615 BEARISH TARGETS 2567 EMA5 CROSS AND LOCK BELOW 2567 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2554 - 2538 EMA5 CROSS AND LOCK BELOW 2538 WILL OPEN THE SWING RANGE SWING RANGE 2516 - 2506 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
16
Market News Report - 15 September 2024This past week, the Japanese yen was the strongest currency against all the major forex markets. Meanwhile, its counterparts performed mildly. How long will the yen be dominant? What about the other currencies? This week consists of several high-impact, interest rate-related events that will surely be a spectacle. Let's discuss each major forex currency's short and long-term outlooks in our latest report. Market Overview Below is a brief technical and fundamental analysis breakdown for all major currencies. US dollar (USD) Short-term outlook: bearish. STIR (short-term interest rate) markets expect at least four full rate cuts before the end of this year. They also suggest a 50% chance (up from 36% last week) of a 50 bps (basis points) cut at this week's meeting. So, diarise this high-impact news event. However, any sense of the Fed holding back on a cut would send the dollar sharply higher. The DXY chart aligns perfectly with the fundamentals. It recently reached a major support area (100.617) on the daily chart and is still near this level. Meanwhile, the key resistance is far away at 107.348 and will likely remain untouched for some time. Long-term outlook: bearish. Markets anticipate several full rate cuts before the year ends. However, the meeting on Thursday may strengthen the USD if the Fed doesn't proceed with a 50 bps cut. Still, data on weakened jobs is another bearish driver for the dollar. Only geopolitical risks, bond market selling, and interest rate differentials can affect this sentiment. Euro (EUR) Short-term outlook: weak bearish. The European Central Bank (ECB) lowered the interest rate as we've predicted for several weeks. However, STIR markets have shifted towards a hawkish direction for future ECB meetings. We should also note that the central bank remains 'data-dependent' and not committed to the potential for cuts going forward. We've seen some bearishness on the euro chart. It is some distance from the major resistance at 1.127575, and it's hard to tell where it may attempt to reach this area soon. Meanwhile, the key support area lies far below at 1.07774. Long-term outlook: weak bearish. The ECB hasn't committed to a specific future path with the interest rate. Furthermore, the central bank is overly concerned about services inflation, reducing the chance of a rate cut next month. Also, STIR markets anticipate a 67% chance of a hold during this meeting. British pound (GBP) Short-term outlook: bearish. The Bank of England (BoE) cut the interest rate by 25 basis points at the beginning of last month. However, the BoE remains data-dependent and has no set future path. STIR markets are currently pricing two additional cuts for the remainder of 2024. The central bank's current key theme is fighting persistent inflation in the United Kingdom. Any future failures here would likely weaken the GBP. Watch out for the new interest rate (or 'Official Bank Rate') this Thursday. As with the euro, the British pound has been saved by dollar weakness on the charts. It recently breached the major resistance at 1.31424. So, the next area of interest is near by at 1.32666. On the other hand, the nearest key support is far below at 1.26156. Long-term outlook: weak bearish. While the interest rate is the chief bearish driver for the pound, the BoE has yet to signal a future path in this regard. STIR markets predict a rate hold next for the Thursday meeting (79% chance vs. 74% chance last week). Furthermore, two-way risks remain based on upcoming economic data, particularly inflation. Japanese yen (JPY) Short-term outlook: bullish. The primary bullish catalyst is the Bank of Japan’s (BoJ) recent decision in July to hike the interest rate (15 bps hike vs the 10 bps expected). STIR markets expect a hold (99% probability) at the next meeting this Friday but a hike at the start of next year. So, the bullish bias is intact, more so with the rate-cutting mood of other major centrals like the Fed, ECB, and BoE. The USD/JPY market perfectly reflects the fundamental outlook of the dollar and yen. Very few would have predicted the current picture of this chart. This pair is very close to touching the major support area at 140.252. Meanwhile, the major resistance (at 161.950) is too far for traders to worry about. Long-term outlook: weak bullish. In addition to the recent rate hike (and the potential for a hold at the next meeting), lower US Treasury yields are other bullish catalysts for the yen. Also, the Bank of Japan is actively intervening in the forex markets, contributing to the JPY's upside for many weeks. Australian dollar (AUD) Short-term outlook: weak bullish. The Reserve Bank of Australia (RBA) unsurprisingly kept the interest rate unchanged not long ago to keep the fight against persistent inflation. Moreover, Governor Bullock expressed last week that the central bank must see 'results' on the latter before lowering rates. Inflation is also a problem for the RBA, indicating that rate cuts would be premature. Like many currencies, the Aussie remains data-sensitive, whether we consider economic growth, labour, or inflation going forward. As a pro-cyclical currency, China's economic woes have been negative for the Aussie (something else to keep in mind). The Aussie market has risen noticeably of late, having reached a recent resistance level (0.67986). While dipping last week, the next target at 0.68711 isn't so far away. Meanwhile, the major support level is down at 0.63484. Long-term outlook: weak bullish. The RBA remains hawkish as per the recent meeting, focusing on core inflation. Overall, it's crucial to be data-dependent with the Aussie, with recent labour data keeping the bullish script alive. However, the Australian dollar is pro-cyclical. So, it is exposed to slow economic growth in other countries. New Zealand dollar (NZD) Short-term outlook: weak bearish. New Zealand's central bank dropped the Kiwi's interest rate from 5.50% to 5.25% last month. Lower-revised cash rate projections and a variety of core inflation measures also hint at the potential for further cuts in the near future. However, it is the usual data-dependency for NZD that could drive the currency either direction. The Kiwi has recently breached a major resistance at 0.62220 - the next target is 0.63696. Conversely, the major support is at 0.58498, an area that it is unlikely to test soon. Long-term outlook: weak bearish. In its latest meeting, the central bank's dovish stance (where it cut the interest rate) puts the Kiwi in a 'bearish bracket.' However, as a risk-sensitive currency like the Aussie, any growth data in China could trigger bullishness for the NZD. As with other currencies, traders should be data-dependent, especially around inflation and wages. Canadian dollar (CAD) Short-term outlook: bearish. The Canadian dollar is fresh off an interest rate cut (from 4.50% to 4.25%). Furthermore, STIR markets indicate a 91% chance of another cut next month and two full rate cuts before the end of 2024. Rising unemployment and weak economic growth are key drivers of the Bank of Canada's dovish stance. Let's not forget the ongoing mortgage stress, a long-running bearish theme for CAD. Among other factors, Canada's ongoing mortgage stress has forced its central bank to be dovish. Despite the above, the CAD continues to strengthen mildly due to USD weakness. It now looks to test the next major support target at 1.33586, while the major resistance is far ahead at 1.39468. Long-term outlook: weak bearish. Expectations of a rate cut remain the focal point, with the BoC governor Macklem himself saying it's reasonable to expect more cuts in the future. In the recent meeting, they also wished for economic growth. The mortgage stress remains a major factor in this interest rate policy, and the BoC will have to cut rates to alleviate it. However, expect encouraging oil prices, along with general economic data improvement, to save the Canadian dollar's blushes. Swiss franc (CHF) Short-term outlook: bearish. STIR markets forecast a 25 bps rate cut later this month and in December this year. Also, despite the positive trend of falling inflation, the Swiss National Bank is pressured to weaken the Swiss franc to facilitate more exports. However, the CHF can strengthen during geopolitical tensions like the Middle East crisis. USD/CHF has trended down nicely for several weeks, now looking to test the support area at 0.83326. Meanwhile, the major resistance level is far higher at 0.92244. Long-term outlook: weak bearish. The expected rate cut in the next SNB meetings for 2024 is the main bearish driver. However, the SNB's chairperson, Thomas Jordan, expressed that "appreciation of the Swiss Franc has an impact on monetary policy." This means that potential intervention by the central bank can go either way. Conclusion The fundamental outlooks of each currency have remained unchanged from our previous report. Getting three interest rate decision events a day after another in a week happens once in a blue moon. Thus, we should expect higher-than-average volatility. Otherwise, keep our fundamental outlooks in mind as you tackle this - hope for the best and prepare for the worst!
TVC:DXY
by CityTradersImperium_CTI
GOLD 1H CHART ROUTE MAP & TRADING PLAN FOR THE WEEK Hey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are in a new rage but just like last time we were able to generate accurate levels to use for the coming week. We are seeing price between two weighted levels. We have 2581 Goldturn resistance and 2567, as Goldturn support. We currently have a gap above on market open at 2581 and below at 2567 and will need ema5 cross and lock on either weighted level to determine the next range. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2581 EMA5 CROSS AND LOCK ABOVE 2581 WILL OPEN THE FOLLOWING BULLISH TARGET 2591 EMA5 CROSS AND LOCK ABOVE 2591 WILL OPEN THE FOLLOWING BULLISH TARGET 2603 POTENTIALLY 2615 BEARISH TARGETS 2567 EMA5 CROSS AND LOCK BELOW 2567 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2554 - 2538 EMA5 CROSS AND LOCK BELOW 2538 WILL OPEN THE SWING RANGE SWING RANGE 2516 - 2506 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
14
GOLD 4H CHART ROUTE MAP & TRADING PLAN FOR THE WEEK Hey Everyone, Please see our updated 4h chart levels and targets for the coming week. We are seeing price between two weighted levels. We have 2590 Goldturn resistance and we have 2564, as Goldturn support. We currently have a gap open above at 2590 and below at 2564 and will need ema5 cross and lock on either weighted level to determine the next range. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 2590 EMA5 CROSS AND LOCK ABOVE 2590 WILL OPEN THE FOLLOWING BULLISH TARGET 2608 POTENTIALLY 2626 BEARISH TARGETS 2564 EMA5 CROSS AND LOCK BELOW 2564 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 2545 - 2517 EMA5 CROSS AND LOCK BELOW 2517 WILL OPEN THE SWING RANGE SWING RANGE 2493 - 2468 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
3
DAILY CHART MID/LONG TERM CHART UPDATEHey Everyone, Please see update on our daily chart structure that we have been tracking and trading successfully for a while now. Last week we stated we stated that we still have the candle body close above 2521 for the gap to 2566 and we would need Ema5 lock to further confirm and strengthen this gap. Currently ema5 is playing just under it and we will continue to observe and update this. - This has played out perfectly with 2566 now hit completing this target. We now have a candle body close above 2566 leaving a long term gap to 2608 and if we get a ema5 lock then this will further strengthen the gap. We have to also keep in mind that we have a support range between 2566 - 2521 for longer range support areas to buy strategic dips, should the corrections take place before completing gaps above. We will use smaller timeframe analysis and trading plans to navigate the range in true level to level fashion. Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our levels and setups. Buying dips allows us to safely manage any swings rather then chasing the bull from the top. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
3
WEEKLY CHART MID/LONG TERM CHART UPDATEHey Everyone, Please see update on our weekly chart idea and analysis that we have been tracking and trading for several months. Previously we stated that we had the candle body close above 2505 leaving a gap to 2557. We also stated that we need to keep in mind that we have a ema5 detachment below highlighted on the chart with a circle for a possible correction area. We then got the detachment touch below two weeks ago, followed with the bounce like we analysed. Last week the bounce completed the full range and hit our target at 2557 perfectly. Just amazing to see our analysis play out in true level to level fashion. We also stated that all channels that break usually require the channel top to become support outside the channel for further continuations before new channels form and once again this played out like we analysed. We now have a candle body close above 2557 leaving a long term Axis gap target to 2603, which we shared on this chart number of weeks back. The new weekly candle will have a detachment below for correction range which will show up when market opens. Please note any corrections below that fail to provide support outside of the channel, means price breaks back into the channel, in which case the channel re-activates for trading and tracking level to level once again Therefore, if we see a rejection before the gap and a break back into the channel then we will use the levels within the channel to provide the bounces, inline with our plans to buy dips in true level to level fashion, using our smaller time-frames keeping in mind the long range gap for the future.. Buying dips allows us to safely manage any swings, instead of chasing the bull from the top. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
7