XAUUSD - 4hr | Rising WedgeSimple Trading: Rising Wedge Pattern
GOLD has been trailing up for the past week. The Price of gold has currently broken below the rising wedge pattern, which means a huge sell-off may occur. At the moment, we are waiting for the retest of previous support to confirm new resistance. Once the New resistance is confirmed, we will see price reject the 2680-90 area and push toward the new bearish target of 2615. Pay close attention to the smelling time frames. Look for FVG's to take sell positions
USD (US Dollar)
NZDUSD to find sellers at market price?NZDUSD - 24h expiry
There is no clear indication that the downward move is coming to an end.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 0.5540 will confirm the bearish momentum.
The measured move target is 0.5475.
We look to Sell at 0.5585 (stop at 0.5625)
Our profit targets will be 0.5485 and 0.5470
Resistance: 0.5550 / 0.5580 / 0.5600
Support: 0.5525 / 0.5500 / 0.5475
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
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Heading into pullback resistance?The Fiber (EUR/USD) is rising towards the pivot and could drop to the 1st support.
Pivot: 1.0251
1st Support: 1.0194
1st Resistance: 1.0289
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.
GBPUSD Potential DownsidesHey Traders, in today's trading session we are monitoring GBPUSD for a selling opportunity around 1.22000 zone, GBPUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.22000 support and resistance area.
Trade safe, Joe.
Bearish drop?XAU/USD has reacted off the support level which is a pullback support and could drop from this level to our take profit.
Entry: 2,665.13
Why we like it:
There is a pullback support level.
Stop loss: 2,680.68
Why we like it:
There is a pullback resistance level.
Take profit: 2,636.56
Why we like it:
There is an overlap support level that lines up with the 78.6% Fibonacci retracement.
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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.
Potential bullish rise?AUD/USD has reacted off the support level which aligns with the 127.2% Fibonacci extension and could rise from this level to our take profit.
Entry: 0.6141
Why we like it:
There is a support level at the 127.2% Fibonacci extension.
Stop loss: 0.6102
Why we like it:
There is a support level at the 1612.8% Fibonacci extension.
Take profit: 0.6198
Why we like it:
There is a pullback resistance level that aligns with the 38.2% 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.
Falling towards overlap support?USD/CAD is falling towards the support level that lines up with the 50% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 1.4369
Why we like it:
There is an overlap support level that aligns with the 50% Fibonacci retracement.
Stop loss: 1.4340
Why we like it:
There is an overlap support level.
Take profit: 1.4443
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.
EURUSD Channel Down bottoming on oversold 4H RSI.The EURUSD pair has been trading within a Channel Down pattern since the December 06 2024 High. The 4H RSI is oversold (<30.00) and every time it has been so on this pattern, it was a buy opportunity.
The target of those buy signals has been the 4H MA50 (blue trend-line). We expect the price to be at least 1.02850 when it hits it.
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Falling towards 50% Fibonacci support?Ethereum (ETH/USD) is falling towards the pivot which is an overlap support and could bounce to the 1st resistance.
Pivot: 3,085.31
1st Support: 2,805.94
1st Resistance: 3,540.71
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.
Bearish drop off pullback resistance?The Swissie (USD/CHF) is rising towards the pivot and could reverse to the 1st support which has been identified as an overlap support.
Pivot: 0.9197
1st Support: 0.9039
1st Resistance: 0.9366
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 bounce off overlap support?The Silver (XAG/USD) is falling towards the pivot which is an overlap support and could bounce to the 1st resistance which acts as a pullback resistance.
Pivot: 29.97
1st Support: 28.81
1st Resistance: 32.08
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.
Euro Back to Parity?The possibility of EUR/USD reaching parity remains a realistic scenario under current macroeconomic and geopolitical conditions.
1. Diverging Monetary Policies
In light of Tump 2.0 and the potential impact of increasing inflation due to the introduction of tariffs, the Federal Reserve is seen to be backing down on its path to keep cutting rates.
On the current plans for only 2 rate cuts in 2025, elevated U.S. interest rates could continue to bolster the U.S. dollar, as higher yields attract foreign investment, increasing demand for USD.
On the other hand, the European Central Bank (ECB) faces mounting pressure to ease its policy stance.
The Eurozone economy has shown signs of stagnation, with Germany, the region's economic engine, teetering on the brink of recession.
A dovish ECB weakens the euro relative to the dollar, contributing to downside pressure on EUR/USD.
2. Weakening Eurozone Economy
The U.S. economy has remained relatively resilient, supported by robust labor markets and consumer spending.
Conversely, the Eurozone has struggled with sluggish growth and energy dependence, leaving it more vulnerable to external shocks.
3. Geopolitical Risks
The ongoing effects of the Russia-Ukraine war continue to strain Europe’s energy sector.
While the region has reduced its reliance on Russian natural gas, high energy prices remain a structural challenge, eroding business competitiveness and consumer purchasing power.
Heightened geopolitical tensions globally have fueled risk-off sentiment, benefiting the safe-haven U.S. dollar.
4. Technical Analysis
EUR/USD has been trading in a downward trend since October 2024, after reaching a peak of 1.12.
Should the pair break below the round number level of 1.02 (and 61.8% Fibonacci retracement level from the longer term) the path to parity becomes increasingly plausible, with 1.00 serving as the next major psychological support.
The 50-day moving average remains below the 200-day moving average, forming a " death cross " pattern, which indicates bearish momentum. Additionally, the TSRI MACD crossover indicates continued selling pressure but room for further downside.
Conclusion
The conditions are aligned for EUR/USD to reach parity.
While short-term volatility and market sentiment may delay this move, the structural drivers of dollar strength and euro weakness remain firmly in place.
Could the Fiber reverse from here?The price is falling towards the pivot and could bounce to the 1st resistance which is a pullback resistance.
Pivot: 1.0185
1st Support: 1.0092
1st Resistance: 1.0340
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 reversal?The Cable (GBP/USD) is falling towards the pivot and could bounce to the 1st resistance.
Pivot: 1.2067
1st Support: 1.1867
1st Resistance: 1.2321
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.
NAS100/USTEC - 4hr| Descending TriangleSimple Trading: Descending Triangle
Nas100 has been trailing down for the past week. if the price breaks below 20,700, then the bullish momentum may be loss. Expect Nas100 to continue to bounce from one end of the triangle to the other end. Once the Triangle is broken, we can reveal the exact target area. Keep in mind that the last 4hr candle has closed below the previous candle low. Price could be preparing for a pullback before continuing to make a lower low. This will either be a break and retest with continued bearish pressure or a complete fakeout.
XAUUSD 12/1/24XAUUSD remains our second pair as usual. Orion is clear as always, giving us a bullish bias to target the highs. Similar to EU, we only have one high to aim for, so the options are the same as mentioned in that write-up. We could pull back from the current position, creating a new low in the process, which would lead us into the lows and present a long entry opportunity in line with the bias. Alternatively, we might take the high first and then drop down into the lows, which would also provide a potential long entry.
Overall, we are anticipating a higher shift and need to monitor the lows for this to materialize. Follow Orion, stick to your plan, and manage your risk properly.
EURUSD 12/1/24Starting the week with our clear bias and understanding of what we aim to trade on EUR/USD. This bias and understanding are, as always, brought to us by Orion, providing precise bias, points of interest, and entry areas.
This week, we observe institutions once again driving the market downward, and we plan to follow this flow. Based on the current market conditions, we are presented with a target low and a major collection of highs, creating a strong area to watch for bearish momentum to return. The game plan is simple: look for a new low to form, giving us targets to aim for. If this happens, watch for the highs to be taken out, which will align us with our short bias. Alternatively, if our current target is reached first, we’ll shift our focus to the highs, providing opportunities to target new lows as the market retraces back to these areas, keeping us in line with the short bias.
Follow what price action shows you and, as always, trust Orion.
Stick to your plan, follow your rules.
NZDUSD Is Approaching The DowntrendHey traders, in tomorrow's trading session we are monitoring NZDUSD for a selling opportunity around 0.55800 zone, NZDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.55800 support and resistance area.
Trade safe, Joe.
Bearish drop off overlap resistance?XAG/USD has reacted off the resistance level which is an overlap resistance and could drop from this level to our take profit.
Entry: 30.69
Why we like it:
There is an overlap resistance level.
Stop loss: 31.40
Why we like it:
There is a pullback resistance level that is slightly below the 78.6% Fibonacci retracement.
Take profit: 29.88
Why we like it:
There is an overlap support level that aligns with the 38.2% 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.