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EUR/USD Eyeing Key Resistance Zones for BreakoutEUR/USD has been on a steady upward trajectory, supported by a clear trendline that has provided consistent buying interest. The current structure indicates a potential bullish continuation after a brief consolidation or pullback. The pair is now targeting key resistance levels at 1.09012 and 1.09365. The first challenge for the bulls is breaking through 1.09012, a strong resistance that has been tested previously. A successful breach of this level could lead to a rapid move towards the major resistance at 1.09365. The chart suggests that any retracement towards the trendline or the dashed horizontal support will likely attract more buyers, offering a high-probability setup for further upside. Should this retracement occur, buyers might seek opportunities near 1.08552 before attempting another push higher. If the price breaks above 1.09365, we could see a continuation of the broader bullish trend, potentially heading towards 1.1000 or higher. However, failure to maintain the upward momentum around these key resistance levels could lead to a deeper correction. We should watch for price action around 1.09012 for confirmation of a breakout, while keeping an eye on the trendline as a guide for support.
Long
by TopGBanks
BRICS Summit 2024: Big Promises, Little Impact?Russia will host the BRICS summit in Kazan from October 22-24, where President Vladimir Putin will push for a new SWIFT-like payment system to challenge US dollar dominance. The group, comprising Brazil, Russia, India, China, and South Africa, has expanded to include Egypt, Ethiopia, Iran, and the UAE, with further expansion on the table as nations like Thailand and Myanmar express interest in joining. As we lead into the BRICS summit, the Dollar Index (DXY), may be “overstretched” according to DBS’ FX analyst Philip Wee, after appreciating more than 3% this month. However, Jim O’Neill, the former UK treasury minister who coined the term "BRICS" back in 2001 remains skeptical about BRICS. He argues that while the summits generate media attention, they rarely produce meaningful outcomes. O’Neill also points to ongoing tensions between key members China and India that get in the way of the block’s aspirations.
TVC:DXY
by BlackBull_Markets
EURUSD 20/10/24Following the bias we had on the Euro last week, the same outlook remains in place. Our high time frame bias on the daily chart is clearly bearish, supported by a strong downward movement. All the indicators are aligning with further price declines, and as you can see, the institutional trajectory is also pointing lower. We are looking for a potential pullback to the supply area, where we would consider selling to target lower prices. This area is marked on our chart. If price breaks through the supply zone, we would then expect a rise towards some of the liquidity positioned above. However, if price does not break through and continues to drop, the next level we anticipate price stalling at is 1.08000, a key level that could serve as liquidity for the last low placed on the daily timeframe. As always, our markup is kept simple to help you stay on the right side of the market without overcomplicating things. Remember, a straightforward system can still provide a consistent directional bias. You don't need a complex strategy to achieve this. Trade safely, follow your plan, and stick to your risk management.
by PipSurfingSociety
Usdjpy still seems upside but having zig zag moveHello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Price actions still whips in a wedge, but general direction still up unless the structure fails. Let's watch this coming week for clearer picture! Do check out my recorded video (in trading ideas) for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. *********************************************************************
by Shadowing_The_Big_Boys
Usd potential turning downHello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Watching for a potential toppish reversal on USD.But if it still holds and dont play out. next test level will be $104. Do check out my recorded video (in trading ideas) for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. *********************************************************************
TVC:DXY
by Shadowing_The_Big_Boys
USDCHF to continue in the upward move?USDCHF - Intraday Our short term bias remains positive. The sequence for trading is higher highs and lows. Previous resistance at 0.8635 now becomes support. We look to buy dips. Risk/Reward would be poor to call a buy from current levels. 20 1hour EMA is at 0.8641. We look to Buy at 0.8642 (stop at 0.8614) Our profit targets will be 0.8712 and 0.8727 Resistance: 0.8669 / 0.8680 / 0.8700 Support: 0.8635 / 0.8615 / 0.8600 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. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
Potential bullish rise for Silver?The price has reacted off the support level which is an overlap support that aligns with the 50% Fibonacci retracement and could rise from this level to our take profit. Entry: 31.51 Why we like it: There is an overlap support level that aligns with the 50% Fibonacci retracement. Stop loss: 30.97 Why we like it: There is a pullback support level that aligns with the 61.8% Fibonacci retracement. Take profit: 32.26 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.
VANTAGE:XAGUSDLong
by VantageMarkets
Pullback resistance ahead for the Cable?The price is rising towards the resistance level which is a pullback resistance and could reverse from this level to our take profit. Entry: 1.3033 Why we like it: There is a pullback resistance level. Stop loss: 1.3080 Why we like it: There is an overlap resistance level that lines up with th23.6% 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.
Short
by VantageMarkets
Bullish momentum to extend?USD/CHF has reacted off the support level which is a pullback support and could rise from this level to our take profit. Entry: 0.8634 Why we like it: There is a pullback support level. Stop loss: 0.8606 Why we like it: There is an overlap support level that aligns with the 38.2% Fibonacci retracement. Take profit: 0.8713 Why we like it: There is a pullback resistance level that is slightly below the 78.6% Fibonacci projection. 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.
Long
by VantageMarkets
1
Potential bullish rise?USD/CAD has reacted off the support level which is an overlap support that lines up with the 23.6% Fibonacci retracement and could rise from this level to our take profit. Entry: 1.3787 Why we like it: There is an overlap support level that lines up with the 23.6% Fibonacci retracement. Stop loss: 1.3774 Why we like it: There is an overlap support level that aligns with the 50% Fibonacci retracement. Take profit: 1.3825 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.
Long
by VantageMarkets