Gold - Wave 5, plus CCI and RSI confirmationAt the trough we had the RSI close to oversold, and we can say that CCI showed an oversold condition.
The CCI that measures the deviaton its smoothed with an 14-ma and adding the RSI above we have the market confirmation.
The candles formed three white soldiers that seems very strong.
We are in the beginning of wave 5 with the objective to go to a new high above wave 3.
USD
Bearish drop off pullback resistance?The Swissie (USD/CHF) has reacted off the pivot which has been identified as a pullback resistance and could drop to the 1st support which acts as a pullback support.
Pivot: 0.8865
1st Support: 0.8804
1st Resistance: 0.8910
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?The Fiber (EUR/USD) is rising towards the pivot which lines up with the 38.2% Fibonacci retracement and could drop to the 1st support.
Pivot: 1.0548
1st Support: 1.0496
1st Resistance: 1.0602
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 off overlap support?USD/JPY is falling towards the support level which is an overlap support that aligns with the 50% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 154.69
Why we like it:
There is an overlap support level that aligns with the 50% Fibonacci retracement.
Stop loss: 153.62
Why we like it:
There is an overlap support level.
Take profit: 156.56
Why we like it:
There is a pullback resistance level.
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How I identify the best forex pairs to trade:Here is how I identify the best forex pairs to trade:
In the top left panel, the indicator 'Compare Forex' displays the PERFORMANCE of each major currency.
The USD (red line) has been the strongest currency for the past 2 months on H6 charts.
By identifying the strongest currency, all that remains is to trade the USD against all the other currencies since they are weaker.
= Smooth stress-free charts.
I look at my trades 2-3 times a day to see if they are still blue or red. Takes a few minutes.
Falling towards 50% Fibonacci support?USD/CHF is falling towards the support level which is a pullback support that aligns with the 50% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 0.8773
Why we like it:
There is a pullback support level that aligns with the 50% Fibonacci retraecment.
Stop loss: 0.8699
Why we like it:
There is an overlap support level that is slightly above he 78.6% Fibonacci retracement.
Take profit: 0.8901
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?EUR/USD is rising towards the resistance level which is a pullback resistance that aligns with the 38.2% Fibonacci retracement and could drop from this level to our take profit.
Entry: 1.0550
Why we like it:
There is a pullback resistance level that aligns with the 38.2% Fibonacci retracement.
Stop loss: 1.0598
Why we like it:
There is an overlap resistance level.
Take profit: 1.0496
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.
EURUSD: Long term bottom formation. Target 1.09250.EURUSD is almost oversold on its 1D technical outlook (RSI = 32.566, MACD = -0.011, ADX = 28.963) as despite the consolidation since last Thursday, it hasn't yet started to recover. This is however a common price action during bottom formation proccesses (like September and March 2023) and since the 1D RSI is on a bullish divergence (HL), we expect a rally to start soon. In the past rebounds that stopped initially on the HH trendline but for slightly lower risk we are targeting the November 5th High (TP = 1.09250), which started the recent selling.
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GOLD FURTHER SELL OFF?! (UPDATE)As you saw on yesterday's update we've been expecting a slowdown in bullish momentum around current market price & that is exactly what's happening so far. Despite any short term pushes up, expecting price to drop back down again.
Still waiting to see some form of flat correction to take place within minor Wave 1 schematics of major Wave B. Time to be patient & let Gold do its thing!
US DollarLooking at historical events, Specially heading into 2025 as a year where we could see sharp declines in the stock market as rebalancing commences early in 2025. The US dollar has enjoyed a lot of support over the last couple of months. and could still enjoy more, but as a long term investor and position trader im not interested in buying USD at these levels as COT index is showing imminent signs of reversals coming. Coupled with Seasonality it could happen in December. ill await clearer shifts on lower time frames for an entry. retail traders also are 80% long EURUSD, the moment they start selling i will buy and hold.
EURUSD Breakout And Potential RetraceHey Traders, in today's trading session we are monitoring EURUSD for a selling opportunity around 1.06200 zone, EURUSD was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 1.06200 support and resistance zone.
Trade safe, Joe.
Bullish bounce off 61.8% Fibonacci support?The Loonie (USD/CAD is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance which acts as an overlap resistance.
Pivot: 1.3938
1st Support: 1.3898
1st Resistance: 1.4032
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 has reacted off the pivot which has been identified as an overlap support and could potentially rise to the 1st resistance level which acts as a pullback resistance.
Pivot: 17.9840
1st Support: 17.8118
1st Resistance: 18.3280
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 reversal off pullback support?USD/CAD is falling towards the support level which is a pullback support that is slightly above the 61.8% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 1.3952
Why we like it:
There is a pullback support level that is slightly above the 61.8% Fibonacci retracement.
Stop loss: 1.3900
Why we like it:
There is an overlap support level that lines up with the 78.6% Fibonacci retracement.
Take profit: 1.4003
Why we like it:
There is a pullback resistance level that is slightly below 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.
GBP/USD Breakout to 1.2777 or rejection to 1.2666?This chart displays the GBP/USD pair on the 1-hour timeframe currently leaning bullish, as the price has shown strength approaching the resistance.
The price is currently testing a key resistance zone around the 1.2689-1.2700 level, with potential bullish momentum indicated by the recent rally.
If the price breaks above the resistance zone and closes beyond 1.2700, it could indicate a continuation toward the next resistance level at 1.2777
EURUSD strong buy signal if the 4hour MA50 breaks.EURUSD has started trading inside a Channel Up pattern, approaching the 4hour MA50 with its 4hour RSI on the rise.
This is identical to the pattern of late October both on price and RSI terms.
When that pattern finally closed a candle over the 4hour MA50, the price was catapulted to the 1.618 Fibonacci extension (but remained under the 4hour MA200).
As a result, go long if the 4hour MA50 gets crossed and target 1.07550 (Fib 1.618).
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GOLD FURTHER SELL OFF?! (UPDATE)For those of you who watched yesterday‘s video update, well done as you know we were expecting further upside towards Wave B, which is close complete now, so you could have caught some short term buy’s🫡
Also, as I said on yesterday‘s video, we’re now expecting some form of flat correction to take place within minor Wave 1 schematics of major Wave B. Let’s see how this plays!
GBPUSD forming a bottom?GBPUSD - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
We are trading at oversold extremes.
Bullish divergence is expected to support prices.
Preferred trade is to buy on dips.
Bespoke support is located at 1.2630.
We look to Buy at 1.2630 (stop at 1.2590)
Our profit targets will be 1.2730 and 1.2760
Resistance: 1.2700 / 1.2750 / 1.2800
Support: 1.2630 / 1.2600 / 1.2570
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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.
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EurUsd Nov 24' .. Elections Catalyst?Hey traders, welcome back to another analysis. It's been 2 years and Eurusdmay finnally break out of the range to the downside. I know you are just as excited as I am for a potential squeeze down to 1.03.. However, we must wait for confirmation and maybe a liquidity wick before anything else. Safe trading!
Please leave any feedback below or even a boost to help the channel. Ty, cheers.
-ShrewdCatFx