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XAG USD ( Silver / US Dollar)

Strifor || EURUSD-Mid-term viewPreferred direction: BUY Comment: The main currency pair is most likely now the most interesting to buy, since it has the most formed buy-setup. A significant part of the buyers have already been liquidated, and growth according to scenario №1 is now most likely. Scenario №2 is considered as plan B, where buy-positions are expected at the level of 1.06500 . This level is located near the support trend line. The target for this medium-term long trade is not considered above the level of 1.07500 . Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Short
by Strifor
1
Strifor || NZDUSD-Mid-term viewPreferred direction: BUY Comment: Once again, we are considering the New Zealand dollar together with the Australian dollar , well, this is not surprising given their high correlation. Here, too, a recovery is expected in the medium term, but not everything is so simple, and still, before growth, there will most likely be updates to local lows. A more optimistic scenario is exactly what it looks like and can be found on the chart within scenario №1. Scenario №2 is more aggressive on the part of the seller, and here it would be best to look for long-positions at the support level of 0.59018 . Above the level of 0.60713 the target is not considered. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Long
by Strifor
3
Strifor || AUDUSD-Mid-term viewPreferred direction: BUY Comment: We consider the Australian dollar in favor of a buyer within the medium term. It should be noted here that AUDUSD and NZDUSD will most likely update at least local minimums before growing. However, current prices are also great for "step by step" accumulating a buy-position. This trade is not designed for a big move higher, as the Pacific currencies do not look so positive in the longer term. Therefore, the target for a corrective upward movement is not considered above the level of 0.66000. We have two scenarios for this medium-term long, where scenario №1 is more likely. As there is a medium-term deal, the two scenarios are considered in combination. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Long
by Strifor
5
Strifor || USDCAD-12/04/2024Preferred direction: SELL Comment: The US dollar continues to strengthen before the weekend, but there is a high probability of a downward correction beginning, and this concerns all major currency pairs. The Canadian dollar has one of the most interesting buying setups against the US dollar . The price is trading slightly above trend resistance, and it is unlikely that we will see continued growth. Although this probability remains, in this case we have scenario №2 , where growth may still be towards the level of 1.37500 . But it should also be noted in favor of scenario №1 that most of the sellers have already been liquidated, and the instrument is more ready to fall towards the designated target at the level of 1.36500 . Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Short
by Strifor
1
SILVER Seeks Support at $22.00 Amidst Rate Cut ExpectationsOn Monday, silver experienced a sharp downturn, revisiting the $22.00 mark, reflecting a more than 2.5% decrease from its previous close. Market participants swiftly adjusted their expectations of early rate cuts by the Federal Reserve (Fed), leading to a substantial sell-off in the white metal. Technical Analysis: From a technical standpoint, the current price is positioned in a crucial support area around $22.00. This zone is fortified by a dynamic trendline, historically supportive of price rebounds. Additionally, the 78.6% Fibonacci level acts as a potential discount area, offering a foundation for the price to find support. The Stochastic indicator remains in oversold conditions, signaling the potential for a rebound. Anticipating a recovery, our outlook targets a return to $24.50 and $26.00 in extension. Economic Landscape: Turning to economic news, the CME Fedwatch tool suggests that investors are now eyeing a potential interest rate cut in May. This shift in sentiment is attributed to persistent price pressures driven by robust household spending and favorable labor market conditions. The upcoming focus of the week will be on the release of United States Q4 Gross Domestic Product (GDP) data scheduled for Thursday. A positive GDP reading would reinforce the narrative of 'higher interest rates,' aligning with the Fed's cautious approach towards premature rate cuts. Outlook: As silver grapples with the $22.00 support, the interplay of technical factors and market sentiment becomes crucial. The dynamic trendline and Fibonacci support offer a potential springboard for a price rebound. However, the economic landscape, particularly the GDP data release, will significantly influence the metal's trajectory. Traders are advised to closely monitor developments to navigate potential price fluctuations in the coming days. Conclusion: The silver market finds itself at a critical juncture, seeking support at $22.00 amid shifting expectations of Fed rate cuts. Technical indicators suggest the potential for a rebound, yet the economic data release later in the week will undoubtedly play a pivotal role in determining silver's path. Traders should exercise caution, staying adaptable to evolving market dynamics as they unfold throughout the week. Our preference Long positions Above Support Area $20 with targets at 24.50 & 26 in extension.
OANDA:XAGUSDLong
by FOREXN1
1
Strifor || EURUSD-10/04/2024Preferred direction: Neutral Comment: According to the settings that we outlined at the beginning of the week, we continue to hold the euro long, but note that most of the profit has already been recorded, and the trade has been moved to breakeven. This also applies to other majors that we considered as part of the medium-term weakening of the US dollar . Today is one of the most significant events of the week, namely the US CPI . The euro is expected to strengthen against the US dollar during the release of inflation data. However, more global prospects are more in favor of the seller and the likelihood of a reversal downward from the level of 1.09000 is high. In this case, we can expect a fall to at least 1.08000. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
by Strifor
1
Strifor || GOLD-10/04/2024Preferred direction: SELL Comment: The trading idea for gold , which was given at the beginning of the week, is still relevant in the middle of the week, when the market is looking forward to the publication of US inflation data . For gold , we are considering a medium-term outlook, which is highly likely to work out in favor of the seller. The most likely scenario №1 involves an entry near the level of 2380 . However, it should be noted that taking a short position from current levels is also relevant, but only within the framework of a conservative entry. The target for a fall is at level 2280 . There is potential for a fall even lower. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
OANDA:XAUUSDShort
by Strifor
1
Strifor || GOLD-Week StartingPreferred direction: BUY Comment: Metals continue to be in the top news amid a new all-time high for gold . This metal remains a strong buy-priority at the beginning of this week, and a new high is expected before the long-awaited correction. It should be noted that in the longer term, one can continue to accumulate a short position, following all the rules of risk and money management. Regarding the shorter term and especially the coming week, we will most likely see another strengthening of gold towards the level of 2400 . At the same time, towards the end of the week, after the publication of key data, we can expect the start of a correction. We have targets for the fall at the level of 2280 , but the level may change during the week. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
OANDA:XAUUSDShort
by Strifor
1
Strifor || SILVER-Mid-term viewPreferred direction: SELL Comment: We continue to consider metals as part of medium-term sales, but there is no good reason to enter yet. Of course, one can gain a position with a small volume using a "step by step" system. In the short term, silver and gold are likely to strengthen again. Thus, silver will update the local maximum, and gold will update the historical maximum. The most likely scenario at the moment for silver is a movement towards the level of 28.50 , where we can expect the formation of a short entry point ( scenario №1 ). A more aggressive scenario from the point of view of the current buyer is scenario №2 , where price strengthening can be expected towards the level of 29.00. The target for a fall in medium-term sales as part of a corrective movement is located at the level of 27.00. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
OANDA:XAGUSDShort
by Strifor
1
Strifor || GBPUSD-Week StartingPreferred direction: BUY Comment: Visually, the technical situations for the euro and pound look as similar as possible to each other. Here, too, the buy-priority remains, and the nearest target for this week is located at the level of 1.27000 . The growth potential is even higher, but setting a target above the level of 1.28000 would be a rather aggressive setting. We have indicated the most likely price movement within scenario №1 on the chart. A less likely scenario №2 involves a preliminary re-testing of the support area at the level of 1.26000 . Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Long
by Strifor
1
The third wave! Or five waves and waiting for correction?Dear analysts and traders, I hope you are doing well and are motivated for the week ahead. I wish you all the success in your business endeavors. Remember that success in trading lies in consistently defining and sticking to your rules. As someone interested in the Elliott Wave Principle, I find it to be an invaluable tool for market analysis. I have developed my approach by combining this principle with my personal experience and by considering different scenarios that are likely to occur in the market. It should be noted that I do not like to be surprised in the market, and that's why I have different market prospects. I follow them to be sure and recognize the structure that is forming so that I can 100% recognize it. I will share my analysis with you, but please note that I am not providing any buy or sell signals. My perspective on idea analysis is completely unbiased, so if the idea analysis meets your standards, you can use it as a guide to make an informed decision. I have attached my previous analysis of the same market so that you can compare and see the differences. All the details of my analysis are clearly labeled, making it easy for you to understand. However, having a basic familiarity with the Elliott Wave Principle theory will help you understand the analytical idea more easily. I have been studying the Elliott Wave Principle for almost three years now, and over time, my understanding of this knowledge and experience has grown. What I have achieved so far is the legacy of a genius called Ralph Nelson Eliot, and I am really happy with my progress. May peace be upon him. Thank you for your support so far. I will always remember your kindness. Please share your comments and criticisms with me. I hope my analysis will be useful to you in your business journey, and I wish you all the best. Sincerely, Mr. Nobody
EIGHTCAP:XAGUSDLong
by mehdi47abbasi79
gold market 2050 USD expect 15% correction/pullback 🔸Hello traders, let's review 2days/candle gold price chart today. Strong gains recently after breakout of the ATH, currently trading near ATH at 2337 usd. Having said that, based on the price action structure, I expect an interim market-top at neat 2370/2390 usd and a subsequent correction/pullback. 🔸Price structure contained within bullish channel since 2020, defined by a strong sequence of higher lows and higher highs, currently we are closing in on the cycle high, which should be printed near 2370/2390 usd. Projected pullback into golden pocket from 2370/90 until 2050 usd. 🔸Recommended strategy for position traders: wait for confirmation of the interim market top near 2370/2390 and scale into short position, expecting decent correction after we max out near 2370/90. TP bears / position traders is backtest of the golden pocket area at 2050 USD. swing trade setup, patience required. good luck! 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
OANDA:XAUUSDShort
by ProjectSyndicate