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Eurusd trading analysis for this weak For this week, the EUR/USD pair is showing mixed signals. The pair experienced upward momentum due to recent data indicating stronger-than-expected economic performance in the Eurozone. However, the Federal Reserve's concerns about potential interest rate hikes are putting downward pressure on the pair. Traders should watch for key economic announcements, such as GDP and employment reports, which could influence the pair's movement. Support is around 1.1000, while resistance is near 1.1150. Monitoring market sentiment and global events that could impact the currency pair is crucial.
Short
by AllBeginner
XAU/USD attracts some buyers near $2,400 as US PCE data Gold price (XAU/USD) edges higher to $2,395 during the early Asian trading hours on Monday. The yellow metal gains ground on the hope of an interest rate cut by the Federal Reserve (Fed) in September after cooling US inflation data. Investors will closely watch the Fed Interest Rate Decision on Wednesday, with no change in rate expected. The recent evidence of progress on inflation has triggered expectations that the Fed would start easing monetary policy in September, which boosts the price of precious metals as lower interest rates generally reduce the opportunity cost of holding non-yielding bullion. Market analyst at forex.com, Fawad Razaqzada, said that the mixed-to-weaker US data on Friday indicated inflationary pressures and economic activity are waning, paving the way for the Fed to cut rates twice this year. The Personal Consumption Expenditures (PCE) Price Index increased 0.1% MoM and was up 2.5% YoY in June, in line with the market consensus, according to the Commerce Department. The year-over-year gain in May was 2.6%, while the monthly figure was unchanged. Meanwhile, core PCE inflation, which excludes food and energy, rose to 0.2% MoM from 0.1% in May. The annual core PCE rose to 2.6% in the same period, compared to 2.5% in May. Both figures matched expectations. Investors are now pricing in nearly 90% odds of a Fed rate cut in September, followed by another cut in November and December, according to the CME FedWatch Tool.
OANDA:XAUUSD
by FalCol_TradingMaster
AUDUSD: Bearish Outlook For Next Week 🇦🇺🇺🇸 AUDUSD broke and closed below a key daily structure support. After its violation, the pair started to recover steadily within a rising wedge pattern. Retesting the broken structure, the price formed a double top pattern. After that, the market violated both the neckline of a double top and a trend line of a rising wedge, giving us a strong bearish confirmation. We can expect a bearish movement on Monday. Goals: 0.6537 / 0.652 ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
2
XRP Road MAPPrice Levels and Resistance Lines: The chart shows several horizontal resistance lines at different price levels such as $0.6025, $0.6135, $0.7915, $1.0260, $1.3437, $1.9716, and $4.1853. These lines are likely previous support and resistance levels where the price had significant interactions. Trend Lines:There are yellow downward and upward-sloping trend lines indicating bearish and bullish trends, respectively. The price has broken out of these trend lines multiple times, indicating shifts in the market sentiment. Pattern Formation: The chart shows a large triangle pattern with converging trend lines, suggesting a potential breakout. Smaller triangular patterns within the larger trend indicate periods of consolidation before the breakout. Measured Moves: Two measured moves are highlighted with blue rectangles, both showing a substantial 932.15% increase. These moves are indicative of significant upward momentum. The first move shows a price increase from approximately $0.19 to $1.97. The second projected move indicates a potential price increase from around $0.60 to the $4.18 target. Volume: The volume bar at the bottom indicates trading activity. Higher volume during breakouts and significant moves suggest stronger momentum. Current Price Action: The current price is around $0.6026, and it recently broke out of a consolidation pattern. The breakout suggests a bullish trend with potential targets at higher resistance levels. Key Observations: Support Levels: Around $0.59, $0.53, and $0.43. Resistance Levels: $0.6135, $0.7915, $1.0260, $1.3437, $1.9716, and $4.1853. Trend: The recent breakout suggests a bullish trend, with potential significant upward movement if momentum continues. Conclusion: The XRP/USDT pair appears to be in a bullish phase, with potential targets at higher resistance levels. Traders should watch for confirmation of the breakout and volume to gauge the strength of the move. Monitoring support and resistance levels will be crucial for making informed trading decisions.
Long
by alemicihan
3
GBPJPY ( BELOW FVG ) (4H)GBPJPY HELLO TRADERS Tendency , the price inside two turning level around 199.493 & 197.879 . TURNING LEVEL (1) : the price of this level at 199.493 , so if the price breaking this level reach a resistance level (1) . TURNING LEVEL (2) : the price of this level at 197.879 , so if the price breaking this level reach a support level (1) . RESISTANCE LEVEL (1) : this level around 201.419 , for reach this resistance level the price need breaking a turning level (1) . RESISTANCE LEVEL (2) : around 203.814 , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1) SUPPORT LEVEL (1) : this level around 195.223 , for reach this support level the price need breaking a turning level (2) . SUPPORT LEVEL (2) : support level at 191.917 , for reach this level will be breaking by open 4h candle below support level (1) . CORRECTIVE LEVEL : currently price 1.286 , have two scenario , first corrective turning level (1), before dropping to touch a turning level (2) , then breaking this level reach a support level (1), second corrective turning level (2) , to reach a turning level (1) , then breaking this level reach a resistance level (1). TARGET LEVEL : RESISTANCE LEVEL : 201.419 , 203.814 . SUPPORT LEVEL : 195.223, 191.917.
Short
by ArinaKarayi
GOLD ( INSIDE TWO TURNING LEVEL )XAUUSD HELLO TRADERS Tendency , the price is under bearish pressure , after breakout channel . TURNING LEVEL (1) : the price of this level at 2,391$, so if the price breaking this level reach a resistance level (1) . TURNING LEVEL (2) : yesterday this level worked a support level , as mentioned breakout 2,391$ reach this level ,the price of this level at 2,365$ , so if the price breaking this level reach a support level (1) . RESISTANCE LEVEL (1) : this level around 2,420$ , for reach this resistance level the price need breaking a turning level (1) . RESISTANCE LEVEL (2) : around 2,440$ , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1) SUPPORT LEVEL (1) : this level around 2,340$, for reach this support level the price need breaking a turning level (2) . SUPPORT LEVEL (2) : support level at 2,320$ , for reach this level will be breaking by open 4h candle below support level (1) . CORRECTIVE LEVEL : currently price 2,374$ , have two scenario , first corrective 2,391 before dropping to touch a 2,365$ , then 2,340$ , second corrective 2,365$ to reach a 2,391$ , then breaking this level reach a resistance level (1). TARGET LEVEL : RESISTANCE LEVEL : 2,420$ , 2,440$ . SUPPORT LEVEL : 2,340$ , 2,320$ .
OANDA:XAUUSDShort
by ArinaKarayi
Gold price analysis July 24Fundamental analysis: Gold prices attracted some buying activity on Wednesday and recovered further from a more than one-week low touched on Monday. The momentum lifted the precious metal to fresh weekly highs around the $2,418 region during the Asian session and was backed by a combination of supportive factors. Growing acceptance that the Federal Reserve (Fed) will begin its rate-cutting cycle in September, along with US political developments, prompted some intraday selling around USD and acts as a driving force for Gold prices. However, traders may refrain from positive bets and prefer to wait for further signals on the Fed's policy path. As a result, the focus remains on US Q2 GDP data and the US Personal Consumption Price Index (PCE), expected on Thursday and Friday. Meanwhile, global PMIs will be looked at for short-term momentum. Technical analysis: From a technical perspective, this week's recovery from the $2,385 resistance level signals the end of the downtrend of recent days as wave 5 has ended and the abc wave of the elliot wave pattern has also ended. around 2411. The aforementioned 2385 area will now act as an important pivotal point, which if broken decisively will pave the way for deeper losses. Gold prices could then slide to the 61.8% Fibo level, around the $2,366-$2,365 area. On the other hand, any further upside move is likely to face some resistance near the $2,420-2,422 zone above which a fresh short squeeze could lift Gold prices to the $2,430-2,432 zone. Momentum could extend again to retest all-time highs, around the $2,482 region. Resistance: 2420 - 2431 - 2436 - 2450 Support: 2385 - 2375 - 2368 - 2360 SELL 2422 - 2420 stoploss 2425 SELL 2431 - 2433 stoploss 2437 BUY 2386 - 2384 stoploss 2380 BUY 2373 - 2375 stoploss 2369
OANDA:XAUUSD
by TVS-Trader
3
$TNSR looks like a strong long opportunity!🚨 $TNSR is forming a Symmetrical Triangle Pattern on the 4H chart, which is typically a continuation pattern. 📈 Entry Point: CMP and Accumulating up to $0.45 🎯 Targets: Midterm Goal: $0.664 Long Term Goal: $1.088 Trading Options: NASDAQ:INSR is available for trading in both spot and futures markets. You can purchase it on the spot market, or if you prefer to go long on futures, consider setting a stop-loss at $0.425. 📊 About $TNSR: INSR is a promising project in the crypto space, aiming to revolutionize transactions with its innovative technology. Their mission is to provide seamless and secure transactions across different networks. 📢 DYOR, NFA #Crypto
Long
by CRYPTOMOJO_TA
Gold analysis July 23Fundamental analysis US President Joe Biden's withdrawal from the 2024 Presidential election has increased the chances of Donald Trump becoming the next US President, raising hopes of a looser regulatory environment. Additionally, the People's Bank of China's (PBoC) surprise interest rate cut on Monday still supported the market's optimistic sentiment and became the main factor acting as a drag on precious metals This safe haven. However, dovish expectations from the Federal Reserve (Fed) will help limit losses for non-yielding Gold prices. In fact, market participants seem confident that the US central bank will begin lowering borrowing costs in September and have priced in the possibility of two more rate cuts by the end of the year. This triggered a fresh decline in US Treasury yields, putting US Dollar (USD) bulls on the defensive and supporting the yellow metal. Therefore, it would be wise to wait for some follow-through selling first with a buying strategy to extend the all-time high that has just been established. Technical analysis Gold was about to test the support level of 2386 but the selling force was no longer enough to reach the support zone yesterday. Gold price recovered to above 2400 in the third European trading session. Gold is breaking the trendline structure of the h1 frame to form an uptrend. If you can close the candle above the 2402 area, gold will be ready to conquer higher levels during the day. The first level of strong resistance could be around 2420 and next at 2431 which will help restrain the rise in gold prices. And the SELL signals are established there. On the contrary, after failing to find 2384 again, the deeper support areas at 2366 and 2350 become more difficult to reach today. The RSI index in the h4 frame is still below the average level of 50. However, the RSI has just crossed the MA 9 line, also showing that buyers have begun to jump in to push the price up. Trading signals SELL scalp zone 2422 - 2420 stoploss 2425 SELL zone 2431 - 2433 stoploss 2437 BUY scalp zone 2386 - 2384 stoploss 2380 BUY zone 2373 - 2375 stoploss 2369
OANDA:XAUUSD
by TVS-Trader