ASIA: USDCHF B&R/REVERSAL/HARMONIC - DEPLETIONOn this last Asian setup price action points to a potential short term opportunity using a variety of confluences, lets see what happens
US
DXY Potential Forecast | 1st March 2023Fundamental Backdrop
1. US economy has proven very resilient in the market.
2. Recent bearish movements stemmed from the drop in consumer confidence and the durable goods printing negative m/m due to Boeing.
3. However, market sentiments revolving around the USD remains bullish amid the stronger than expected economy.
Technical Confluences
1. Price has tapped onto the daily resistance level and has rejected from it.
2. This could be seen as a retracement from the strong bullish movement on the DXY to continue heading higher.
3. Price looks to be able to test the H4 support level at 104.6 before bullish movement continues.
4. Price is resting well above the ichimoku cloud, signifying strong bullish momentum on the DXY.
Idea
I will be looking for price to continue its bullish trend on the DXY and for a new high to be created.
NZDUSD Potential Forecast | 1st March 2023Fundamental Backdrop
1. RBNZ raised the official cash rate (OCR) by 50 bps to 4.75%.
Technical Confluences
1. Price is on a bearish trend on the daily timeframe, forming lower lows and highs.
2. Price has broken the daily support level and is currently retracing back to the support turned resistance.
3. On the daily timeframe, it seems that price is retracing back to the neckline of the double top formation.
4. Anticipating double top formation to be completed and for price to continue heading bearish.
Idea
I will be looking for price to continue its bearish trend and looking for short entries onto NZDUSD.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
AUDUSD Potential Forecast | 1st March 2023Fundamental Backdrop
1. USD more hawkish than AUD, with a potentially higher terminal rate.
2. US economy continues to be very resilient, taking the USD by strength.
Technical Confluences
1. The overall bias for AUDUSD on the H4 chart is bearish.
2. Price is on a bearish trend, forming lower lows and lower highs.
3. Price could potentially retrace to the H4 resistance level at 0.678.
4. Anticipating price to retest the weekly support level at 0.662.
5. Price has already broken multiple structures to the downside.
6. Price is resting below the ichimoku cloud, signifying bearish intent.
Idea
I will be looking for price to continue its bearish trend and for price to tap into the weekly support level at 0.662 before price could potentially head bullish.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
GBPUSD Potential Forecast | 1st March 2023Fundamental Backdrop
1. Inflation for the GBP continues to be very high.
2. Pessimistic outlook on the economy for GBP as upcoming GDP m/m is widely forecasted to be printed negative, showing the recessionary phase the economy is in.
Technical Confluences
1. The overall bias for GBPUSD is bearish and price can retest the daily support level at 1.186.
2. Price has been on a bearish trend for GBPUSD and is forming lower lows and lower highs as seen by the red highlights signifying the highs and lows.
3. Price rejected off the H4 resistance level at 1.213 and has seen continued bearish.
Idea
I will be looking for price to possibly retest the support at 1.186.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
EURUSD Potential Forecast | 1st March 2023Fundamental Backdrop
1. FX market has been very data driven.
2. Consumer confidence declined again in February, printing 102.9 compared to a forecast 108.5.
3. Along with the durable goods order printing -4.5% m/m compared to forecast, this resulted in heavy bullish momentum coming in on the EURUSD.
4. However, due to the strong economic resilience of the US, with retail sales previously printing very positively, and inflation remaining heightened, USD has further upside potential and EURUSD can continue heading down.
Technical Confluences
1. The overall bias for EURUSD is strong bearish and price can potentially create a new higher timeframe beyond 1.05327.
2. Price is on a retracement and have since partially corrected half of the bullish movement from Monday to Tuesday.
3. Price is still on a bearish trend, forming lower lows and lower highs.
4. Price has tested the resistance level at 1.0633 and bearish continuations ensued.
Idea
I will be looking for price to possibly retest the resistance at 1.0595 before bearish movement continues and for price to potentially form a new low at 1.05327.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
USOIL Potential Forecast | 1st March 2023Fundamental Backdrop
1. Optimistic reports of manufacturing expansion in China, which is recognized as the largest crude oil importer globally causing a better outlook for the demand.
2. Data showing China's factory activity rose for the first time in seven months in February
3. Output is still down more than 700,000 bpd from September with a high demand still in place
Technical Confluences
1. The overall bias for USOIL on the H4 chart is bullish.
2. To add confluence to our bias, price is above the Ichimoku cloud and looks to be breaking the descending trend-line.
2. Expecting price to possibly head towards the resistance at the 79.00 level.
Idea
I will be looking for price to break above the resistance at 77.8 and the descending trend line before continuing bullish towards the resistance at the 79.00 level.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
ASIA: USDCHF 618/B&R - DEPLETIONUSDCHF has met all requirements for both, the '618' and 'B&R' playbook setup using price action depletion to set our buy stop for our entry criteria. Lets see how it goes
Who takes the power, the buyer or the seller?We are in a place where decision-making power is difficult, but due to the failure of the trend line and strong return to the trend line, the price must undergo its correction and then decide to grow and reach the goal.
⚠️ This Analysis will be updated ...
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easyMarkets AUDUSD Daily - Quick Technical OverviewAUDUSD seems to be forming a possible falling wedge pattern, which, according to all the TA rules, tends to break to the upside. However, a confirmation break through the upper side of it is still needed, in order to get comfortable with a move towards higher areas. Until then, if the pair stays inside the pattern, it may continue sliding.
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LONDON: USDCHF B&R - DEPLETIONWe have identified one of our playbook setups on USDCHF in a classic break and retest. Price in overall uptrend after breaking multiple downtrend lines
US-Oil/WTI 19th FEB What's up guys!
Another breakdown here, this time for US oil market.
As you can see from this breakdown, we have a clear area of demand that price is rejecting away from.
Based on this and where we stand in overall structure, I am expecting bullish movements to take us into the area of supply highlighted above. From that point, I am going to watch to see if the price is either going to hold there or breakthrough to continue higher.
Overall, I will be looking for longs into the supply in shorts away from the supply, but of course, we do not know fully if this area of demand below will hold. So I'll be looking for a short-term entry to go long. If we break the supply above and continue higher, I'll be targeting the triple top highlighted in green.
Worst case, we don't break through the area of supply and we continue going short, in that case, I'll start aiming for the low which is highlighted in red.
Another pretty simple breakdown. Overall, I'm looking forward to trading this pair this week as it shows lots of potential.
Remember guys, if you like this idea, hit that boost button. Drop us a comment down below. Let us know what you think.
As always guys trade safe, stick to your trading plan.
I hope you all have an amazing trading week.
US30 Short-Term Bullish AnalysisClick on Boost (like) to support these free analyses
This expectation is a framework to look for a potential trading setup; I recommend you to not just execute based on these levels. I always wait for confirmations on lower timeframes
This Analysis was done using my complete Strategy which includes:
- Smart Money Concepts
- Multi Timeframe Liquidity and Market Structure
- Supply And Demand
- Auction Theory
- Volume Analysis
- Footprint
- Market Profile
- Volume Profile
- Wyckoff
- Etc.
usoil long 4h When trading crude oil using technical analysis, it is important to consider the following key factors:
Chart patterns: Understanding common chart patterns, such as head and shoulders, triangles, and trend lines, can help traders identify potential buying or selling opportunities in the market.
Technical indicators: Technical indicators, such as moving averages, Bollinger Bands, and the Relative Strength Index (RSI), can provide valuable information about market trends and help traders determine the strength of a trend.
Supply and demand: Traders should also consider supply and demand dynamics, such as changes in production levels, global economic conditions, and geopolitical events, which can greatly impact the price of crude oil.
Volatility: The crude oil market is known for its high volatility, and traders should be prepared for significant price movements. It is important to have a risk management strategy in place to limit potential losses.
Diversification: As with any investment, it is important to diversify one's portfolio to minimize risk. Crude oil should be just one component of a well-diversified investment portfolio.
Keep updated: Staying informed about market news and developments, such as changes in production levels, geopolitical events, and economic indicators, can help traders make informed investment decisions.
Patience and discipline: Successful trading in the crude oil market requires patience and discipline. Traders should not make hasty decisions based on emotions, and instead follow a well-thought-out trading plan.
In conclusion, technical analysis can provide valuable insights into the crude oil market, but it should be used in conjunction with other forms of analysis and a well-diversified investment portfolio. As with any investment, there are risks involved and traders should always approach the market with caution.
US OIL Break DownWhat's your current take on US Oil. This market seems to have really peaked my interest and I believe most of my profits this year will come from oil.
Just a quick breakdown of what I see potentially happening for oil.
USOIL buy short term Hi All,
as we gear up for the week, We are looking at buying the USOIL from current price, price is currently printing HLs which means the possibility of the break out of the downward channel is on the card, we do not expect a full blow bullish movement, however few pips won't hurt.
Entry, TP and SL marked.
Please follow, Share, comment and like.
Many thanks
US Inflation YoYI've been looking at this chart for a few minutes, really charts don't lie. What's the probable big move of Powell???
US30 Buy Short term Hi All,
A nice opportunity has presented itself on the US30. An Inverse H&S pattern. Looking at price action we can see price printing a HL which also shows a possibility of price moving a bit higher in the short term.
entry, Sl and To marked.
Follow, comment, Share and like
Many thanks
USOIL Potential for Bearish Drop towards supportLooking at the H4 chart, my overall bias for USOIL is bearish due to the current price crossing below the Ichimoku cloud , indicating a bearish market.
Looking for a pullback sell entry at 80.22, where the 38.2% Fibonacci line is. Stop loss will be at 82.44, where the recent high is. Take profit will be at 77.90, where the 50% Fibonacci line and support is.
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USOIL Potential for Bearish Drop | 30th January 2023Looking at the H4 chart, my overall bias for USOIL is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market.
Looking for a pullback sell entry at 80.22, where the 38.2% Fibonacci line is. Stop loss will be at 82.44, where the recent high is. Take profit will be at 77.90, where the 50% Fibonacci line and support is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
GBPUSD: will fed slow the pace by 25 bps next meeting?Hey traders, a 25 bps next meeting should trigger more dollar bears, hence in this week we will be monitoring GBPUSD for a buying opportunity around 1.232 zone, once we will receive any bullish confirmation the trade will be executed.
Trade safe, Joe.
Dollar gain strength again SA randUSDZAR gained momentum in pushing to the upside since South africa had a negative impact on the economy due to the poper supply issue. We our first price target from last week was that price would hit 17.50 but now that it has made multiple breakout on certain levels we looking forward for the price to head around 17.70.
We see a very clear price has reached the RS ZONE on 1H TM and 4H TM.
We take longs just after few countable minutes from market open.
Most preferable time will be 01h15 am +2 GTM Johannesburg time zone.
