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DJ FXCM Index

NZDUSD: Short term buy opportunityNZDUSD has turned bearish on its 1D technical outlook (RSI = 42.582, MACD = -0.004, ADX = 53.918) as up until two days ago it was on the 2nd Bearish Wave of the 2024 Channel Down. This wave appears to have ended as the price hit and rebounded on the S1 level, posting so far two very strong green 1D candles. The pair may make one more Lower Low as on February 5th but shouldn't be much lower than the S1 level. We are aiming at a similar +2.48% rise to the LH (TP = 0.60850). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
2
USDJPY: Your Trading Plan Ahead of FED 🇺🇸🇯🇵 USDJPY is currently accumulating within a narrow horizontal range on a daily. It looks like the market participants are waiting for some important fundamental data to decide where to push the prices. I see 2 potential scenarios. Bullish 151.70 - 152.00 is a key horizontal resistance. Its bullish breakout - a daily candle close above, will be a strong bullish signal. A bullish continuation will be anticipated at least to 153.0 level then. Bearish 151.0 - 151.3 is the support of a daily range. Its bearish breakout - a daily candle close below, will be a perfect signal to short. The first goal for the sellers will be 150.3 support. Wait for a breakout, it will give you a strong confirmation. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
1
Yen Strengthens Following Bank of Japan InterventionThe yen has appreciated recently after the Bank of Japan intervened in the currency market. This is a significant development with potential implications for the foreign exchange market. Considering Going Long on JPY? A stronger yen could be an attractive opportunity for traders looking to go long on the currency. However, it's important to conduct thorough research and consider factors like: • Market Volatility: Currency markets can be volatile, and the yen's rise may not be sustained. • Overall Investment Strategy: This move should align with your broader investment goals and risk tolerance. • Conduct Your Own Research Before making any investment decisions, research the yen's future outlook and analyze potential risks and rewards. We're Here to Help If you have any questions or would like to discuss this development further, please don't hesitate to contact us via the comments.
Short
by bryandowningqln
EURUSD formed the 1st 1D Death Cross since September!The EURUSD pair quickly hit our 1.07250 Target, which we set on our most recent sell signal (March 27, see chart below): Moving out to the 1D time-frame we can see that this is the Bearish Leg of the long-term Channel Down pattern that started at the beginning of the year and we are only halfway through it. Also the pair just completed the first Death Cross on the 1D time-frame since September 29 2023. That is a strong enough sell signal on its own. As long as the price keeps closing 1D candles below the 1D MA50 (blue trend-line), we will remain bearish, expecting a new Lower Low on this 3-month Channel Down. The previous was formed on a -4.00% decline, so a repeat of that targets 1.05500. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
USDCHF in 2023 with a rather erratic downtrendIn Q1, two central banks that have previously used negative interest rates made surprising decisions. The Bank of Japan exited negative rates, while the Swiss National Bank (SNB) unexpectedly cut their benchmark interest rate. The SNB may continue to ease further due to low inflation forecasts and weak growth. In contrast, the Fed wants more confidence in consistent inflation towards the 2% target before taking action. CONTRASTING FUNDAMENTALS PRESENT AN OPPORTUNITY FOR OANDA:USDCHF IN Q2 The SNB's rate cut may prompt other central banks to do the same. While the Swiss Franc may face currency depreciation, Switzerland's low inflation justifies the decision to cut rates. The strong franc makes Swiss exports less competitive than goods from countries with a weaker exchange rate. Switzerland can handle any imported inflation resulting from the rate cut due to low inflation levels, but it is unlikely to be significant given the small 25 basis point cut. CENTRAL BANK POLICY COULD EXTEND BULLISH OANDA:USDCHF SETUPS IN Q2 Market expectations foresee a strong chance (78%) of another 25-bps rate cut from the SNB in June and if the likelihood of that second cut gains momentum, perhaps on softer inflation or weaker GDP, the franc may depreciate further as markets price in such an outcome. The Fed maintained their projection of three rate cuts for 2024. The Fed's dot plot, based on the median value of 19 estimates, suggests hesitation in easing financial conditions due to strong US data. If the data remains strong, the dollar may be supported in Q2. THE TRADE: LONG OANDA:USDCHF UPON IMPROVED ENTRY POINT USD/CHF spent most of 2023 trending lower in a rather choppy fashion, but at the turn of the new year fortunes reversed. The pair traded higher and eventually broke above trendline resistance on the back of the surprise cut by the SNB. The guidance to this trade suggests looking to enter the developing uptrend at a better level due to the sharp ascent at the end of Q1. Another sign to wait for a better entry level appears via the rejection of higher prices at the 38.2% Fibonacci retracement of the 2023 decline. A move back down to 0.8829 would reveal a retest of trendline support (prior resistance), whereafter, a bullish continuation may provide a higher probability trade. A level to consider includes 0.9085 which serves as a tripwire for continued bullish price action. Thereafter, upside targets comprise of 0.9245 and 0.9473. A retest of the late 2023 low would invalidate the bullish setup.
Long
by Xayah_trading
AUDUSD: Wait to buy this dip.AUDUSD is marginally bearish on its 1D technical outlook (RSI = 40.176, MACD = -0.001, ADX = 34.265) as it entered a Channel Down similar to those of August - October 2023 and April - May 2023. That is why we are expecting a bullish reveral the closer we get to the 1.236 Fibonacci extension. As long as the 1D RSI doesn't break into the oversold zone (<30.000), we will buy that dip and target the LH trendline (TP = 0.6700). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
Gold | Ready for a big surge or a big drop? 📈📉Gold is currently moving in a descending triangle. Key support: 2144 - 2149 Key resistance: 2158 - 2163 Gold is waiting for interest rates to come in and provide a 200-400 pip fluctuation! 💰 Fundamental analysis: Numbers above the expected limit of inflation in the United States last week confirmed that price pressures persist and the final stage of reaching the Federal Reserve's 2% inflation target remains a challenging process. This led to a 25 basis point increase in the yield of U.S. two-year Treasury notes during the week and the 10-year Treasury yield crossing the 4.30% threshold. However, U.S. key indicators, with some arguments suggesting that the previous adjustment to reduce the central bank's interest rate hike delay until June 2024 would be sufficient, managed to stay on their short-term consolidation path. But on Friday, the tables turned and the S&P500 dropped from an all-time high, as equity bulls preferred to take a cautious stance ahead of this week's Federal Reserve meeting in anticipation of possible hawkish tones from the Fed. The upcoming week will be a capybara week for central banks, with the Federal Reserve garnering more attention than others. The central banks of Japan, Australia, Switzerland, and the Bank of England are among the central banks that will make their latest decisions on interest rate changes this week. Additionally, in the UK, February inflation data will be in focus ahead of the central bank's meeting as significantly different results from expectations could have a considerable impact on the Bank of England's decision on Thursday. Today, industrial production, retail sales, and unemployment rate data for China in February and January were released. Despite continued weakness in China's real estate sector adding increasing pressure on the economy and confidence in the country's economic outlook, China's industrial production and retail sales surpassed expectations from January to February, marking a strong start for 2024 and providing relief for policymakers. Today's data results, following better-than-expected recent exports and consumer inflation indicators, reinforce Beijing's hopes of achieving what analysts describe as the ambitious goal of 5% gross domestic product growth in the current year. 📈🌏 What is the most likely scenario for the Federal Reserve meeting? 🤔 The Federal Reserve, in its January meeting, kept the interest rate unchanged at 5.25% - 5.50% for the fourth consecutive session. The bank's statement indicated that while the option of lowering interest rates is still on the table, the Federal Reserve is not in a rush to implement this option and wants to ensure more certainty that inflation is moving steadily towards 2%. It is expected that in Thursday's meeting, the Federal Reserve will maintain the interest rate unchanged at 5.25% to 5.50% and release a similar statement to the January one, reiterating its previous positions. Therefore, such a procedure will draw attention to the updated dot plot chart, which will be the focal point of the March monetary policy meeting of the Federal Reserve. If only two participants adjust their forecasts, the midpoint indicates that the Federal Reserve expects to have only two interest rate cuts, much less than the seven cuts the market had predicted in the second week of January for 2024. The occurrence of such a scenario will support the dollar. 💵 The S&P Global PMIs and Jerome Powell's speech, market drivers post-Thursday On Friday, the initial estimates of the S&P Global PMIs will attract investors' attention. Forecasts suggest a contraction in both manufacturing and services sectors in March. If the results exceed expectations, it could provide some support for the dollar index. Jerome Powell, the Federal Reserve Chair, will be scrutinized on Friday, with not much time gap from Thursday's meeting. There is a slight possibility that Powell's positions on Friday may differ significantly from the Fed's stance on Thursday. However, if Powell's positions align with the updated dot plot and the Fed's stance, it will deepen the created volatility; otherwise, it will adjust the fluctuations arising from Thursday's results. 📈🔍🗣️
OANDA:XAUUSD
by uPaSKaL
64
Buy GBPUSD H4 Chart - ChannelGBPUSD Buyers Eyeing Opportunity : The GBP/USD pair on the H4 timeframe presents a potentially bullish opportunity due to a price nearing a breakout from a well-defined channel pattern. This suggests a possible shift in momentum and a higher likelihood of an uptrend in the coming days. Key Points: Buy Entry: Consider entering a long position (buying) around the 1.2600 - 1.2570 zone. This zone represents an attractive entry point near the potential breakout level. Target: The initial bullish target lies at 1.2820. Stop-Loss: To manage risk, place a stop-loss order below the lower support line of the channel, ideally around 1.2550. This helps limit potential losses if the price breaks down from the channel pattern and the downtrend resumes. Thank you.
Long
by KABHI_TA_TRADING
23