Sell GBP/USD Bearish ChannelThe GBP/USD pair on the H1 timeframe presents a potential selling opportunity due to a recent downward Bearish Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours.
Key Points:
Sell Entry: Consider entering a short position around the current price of 1.3062. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 1.2988
2nd Support – 1.2960
Stop-Loss: To manage risk, place a stop-loss order above 1.3090. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Today High Impact News :
GBP - GDP, Trade Balance
EUR - German CPI
USD - PPI
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you.
Best Regards, KABHI FOREX TRADING
Thank you.
USD (US Dollar)
Pullback support ahead?USD/CHF is falling towards the support level which is a pullback support that lines up with the 38.2% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 0.8607
Why we like it:
There is a pullback support level that aligns with the 38.2% Fibonacci retracement.
Stop loss: 0.8553
Why we like it:
There is an overlap support level which is slightly above the 38.2% Fibonacci retracement.
Take profit: 0.8692
Why we like it:
There is a pullback resistance level that aligns with the 61.8% Fibonacci projection.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Sell XAU/USD (Gold) Channel FormationThe XAU/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a Channel Formation pattern. This suggests a shift in momentum towards the downside in the coming Hours.
Key Points:
Sell Entry: Consider entering a short position around the current price of 2650, This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 2624
2nd Support – 2607
Stop-Loss: To manage risk, place a stop-loss order above 2668. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you.
Best Regards, KABHI FOREX TRADING
Thank you.
Potential bullish reversal?AUD/USD is falling towards the support level which is an overlap support that lines up with the 78.6% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 0.6686
Why we like it:
There is an overlap support level that aligns with the 78.6% Fibonacci retracement.
Stop loss: 0.6640
Why we like it:
There is an overlap support level.
Take profit: 0.6748
Why we like it:
There is an overlap resistance level that is slightly below the 23.6% Fibonacci retracement.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bearish drop?XAG/USD has reacted off the resistance level which is a pullback resistance that lines up with the 50% Fibonacci retracement and could drop from this level to our take profit.
Entry: 31.51
Why we like it:
There is a pullback resistance level that aligns with the 50% Fibonacci retracement.
Stop loss: 32.24
Why we like it:
There is a pullback resistance level.
Take profit: 30.35
Why we like it:
There is a pullback support level.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Gold 1H Intra-Day Chart 15.10.2024Option 1: Gold has been in a range today. Still expecting price to retrace towards the $2,630 zone, in order to grab weekly liquidity, before moving back up.
Option 2: Gold carries on moving up towards our $2,700 target without any retracement.
What option do you think is more viable?
Falling towards 61.8% Fibonacci support?The Gold (XAU/USD) is falling towards the pivot which has been identified as a pullback support and could bounce to the pullback resistance.
Pivot: 2,631.11
1st Support: 2,605.73
1st Resistance: 2,667.67
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bullish momentum to extend?USD/JPY is falling towards the pivot which has been identified as a pullback support and could rise to the 78.6% Fibonacci resistance.
Pivot: 149.32
1st Support: 147.24
1st Resistance: 152.02
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Potential bullish bounce?The Swissie (USD/CHF) is falling towards the pivot which acts as a pullback support and could bounce to the 1sst resistance level which is a pullback resistance.
Pivot: 0.8607
1st Support: 0.8540
1st Resistance: 0.8678
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Dollar Index Bullish to $109!I am looking for a 3 Sub-Wave correction into $109 for 2025.
I believe this'll be fuelled by the U.S. elections. Donald Trump will be selected as the next puppet to run the U.S. economy. His 'MAGA (Make America Great Again' phase will push liquidity into the US Dollar. This is how I think the market will reach $109.
USDCAD Sell To BuyDefined divergence relative to the markets as a whole and over extended up trend within the chart. Regardless of if this is the end of bullishness or just a correction, a correction is incoming. The buy is either a retest of the leftover high, or a continuation of current uptrend. Trade Safe, Trade Smart, Trade Drippy!
EURUSD Bearish trend intact.The sell signal after the Double Top (September 23, see chart below) and the RSI Lower Highs rejection turned out to be a very accurate one and the price has already covered 75% of the distance to hitting our 1.08350 Target:
Given that there shouldn't be much divergence until then, we want to focus today on the 1W time-frame. As you can see, based on the ranged (Rectangle) pattern of the past 2 years, the price is at the top of the neutral zone, not even having broken the 1W MA50 (blue trend-line).
The 1.08350 is located on the 1W MA100 (green trend-line) and that is the minimum downside we expect, as the 1W MA100 provided the Lows of June 24 and April 15 2024. The long-term Support Zone is located considerably lower than that (1.04500 - 1.05250) and that is technically the downside potential of the pair.
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DXY Rebounding on the 1M MA50. But for how long?The U.S. Dollar index (DXY) is on a strong green 1M candle, already halfway through the month of October, as it is rebounding after making an exact test of the 1M MA50 (blue trend-line), the long-term Support.
On this chart we can see the DXY's multi-year price action. Even though it was on a heavy downtrend since the February 1985 High, it managed to break above it in January 2015 and sustain a strong Channel Up, coming off the March 2008 bottom of the disastrous Housing Crisis.
Within this strong Channel Up, we see a repeated pattern as long as Bullish and Bearish Legs are concerned. As you can see, the bottoms have been formed significantly below the 1M MA50, so this indicates that it is not time to buy yet.
If anything, a controlled short is justified and as we get closer to the bottom of the Channel Up, start buying on a multi-year basis (as long as the 1M MA200 (orang trend-line) holds). Based on the 1M RSI, where the similarities with the previous Leg are more obvious, we should be around levels similar to October 2017, so starting next month or December, we should start resuming the downtrend and a 'modest' level to target is 97.000.
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Pullback resistance ahead?NZD/USD is rising towards the resistance level which is a pullback resistance that aligns with the 23.6% Fibonacci retracement and could drop from this level to our take profit.
Entry: 0.6127
Why we like it:
There is a pullback resistance level that aligns with the 23.6% Fibonacci retracement.
Stop loss: 0.6172
Why we like it:
There is a pullback resistance level that lines up with the 38.2% Fibonacci retracement.
Take profit: 0.6053
Why we like it:
There is a pullback support level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Could the price bounce from here?The price is falling towards the support level which is a pullback support that aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 2,631.79
Why we like it:
There is a pullback support that aligns with the 50% Fibonacci retracement.
Stop loss: 2,604.25
Why we like it:
There is a pullback support level.
Take profit: 2,671.33
Why we like it:
There is a pullback resistance level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bearish drop for the Aussie?The price has reacted off the resistance level which is a pullback resistance and could drop from this level to our take profit.
Entry: 0.6747
Why we like it:
There is a pullback resistance.
Stop loss: 0.6791
Why we like it:
There is an overlap resistance that aligns with the 38.2% Fibonacci retracement.
Take profit: 0.6688
Why we like it:
There is an overlap support level that lines up with the 78.6% Fibonacci retracement.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bullish reversal?GBP/USD is falling towards the support level which is an overlap support and a breakout from this level could lead the price to drop to our take profit.
Entry: 1.3019
Why we like it:
There is an overlap support.
Stop loss: 1.3113
Why we like it:
There is a pullback resistance that aligns with the 23.6% Fibonacci retracement.
Take profit: 1.2940
Why we like it:
There is a pullback support level that is slightly below the 61.8% Fibonacci retracement.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bearish drop?Ethereum (ETH/USD) is rising towards the pivot and could reverse to the 1st support.
Pivot: 2,493.86
1st Support: 2,396.64
1st Resistance: 2,566.10
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Potential bullish rise?USD/ZAR is falling towards the pivot which has been identified as a pullback support and could rise to the 1st resistance which acts as an overlap resistance.
Pivot: 17.3355
1st Support: 17.1641
1st Resistance: 17.59060
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.