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GBPUSD Week 9 Swing Zone/LevelsLast week saw a few pinched pips and also few losses. This highlights the benefit of having a good risk to reward ratio. Weekly zone and levels are mapped based on previous week daily high-low relationship (ie Monday HL in relation to Tuesday in relation to Wednesday HL, etc). This generates a fairly accurate levels with actual price action determining trades. SL, stoploss is usually btw 10-15pips TP, Takeprofit is 5-10x that, with sl moving to BE, breakeven once trade pinches +20pips.
Short
by PinchPips
GBPJPY D1We're currently within a broad consolidation range, with price action indicating a potential liquidity grab towards lower levels. A daily (D1) support zone has been breached, and we're observing a bearish correction channel. I'll be monitoring the next D1 support zone or the 'key liquidity area' for reversal patterns, signaling potential long opportunities. A break below this key liquidity area would shift the overall structure to bearish. Note that JPY strength, driven by BOJ policies, warrants close attention next week. Best regards.
Long
by velasforex2009
EURO - Price can bounce up from triangle to $1.0600 pointsHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Price started to decline in the falling channel, where it bounced from the resistance line and broke $1.0465. Then it continued to fall and reached $1.0265 support level, which coincided with support area and tried to grow then. After this, price turned around and dropped to support line of channel and then made upward impulse. Euro exited from channel and later started to trades inside a triangle, which continues to trades to this day. In a triangle, price made a strong gap and then rose to resistance level, even broke it, but now trades below. So, I think that Euro can break this level and even exit from a triangle, after which continue to grow to $1.0600 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
2
GBPNOK at Key Demand Zone: Rebound Toward 14.0198?FOREXCOM:GBPNOK reached a significant demand zone, marked by prior strong price reactions and buying pressure. This level has historically acted as a support zone, indicating the potential for a bullish reversal if buyers regain control. The current market structure suggests that if the price confirms a rejection from this demand zone, we could see a move upward toward the 14.0198 level, which aligns with a logical retracement. Traders should watch for bullish confirmation signals, such as bullish engulfing candles or higher lows, before entering long positions.
Long
by DanieIM
AUDCAD 2HAUDCAD 2H Fundamentals: •The RBA has made its first rate cut, initiating its rate-cutting process. However, this is more of a symbolic cut rather than a genuine attempt to stimulate the economy. It was essentially a “hawkish cut” from the RBA. •We could see a shift in risk sentiment, with the S&P500 currently in an uptrend but recently rejecting a daily resistance. In my opinion, this rejection is just a minor correction. •Oil is also in a downtrend, which should negatively impact the Canadian dollar. •Furthermore, market expectations for interest rates suggest a hold for both central banks, but with an 80% probability for the RBA compared to 60% for the BoC. •Additionally, since the US dollar is undergoing a short to medium-term correction, this could also weigh on the Canadian dollar due to the positive correlation between the two currencies. Technical Analysis: •On the daily timeframe, we can see a descending triangle that has just broken to the upside. •On the 8H timeframe, there is a clear double bottom on the Bullish TrendLine, which acted as strong support. Price is also returning to the trendline, but more importantly, to Fibonacci levels aligning with a major resistance-turned-support. •Retail traders are predominantly short (91%), confirming a potential buying opportunity. •I am placing a buy limit at the 50% Fibonacci level at 0.90060. •Wide stop-loss as we might see portfolio rebalancing from major institutions due to the end of the month, which could bring volatility. •Take profit at 0.92700. •Risk-to-reward ratio: 3.3. •Half-risk position due to Australian CPI on Wednesday and Canadian GDP data on Friday.
Short
by Marco-kh
EURJPY 2H SHORTEURJPY 2H Fundamentals: •Eurozone 10Y Bonds broke a key ascending trendline to the downside and have now retested it before continuing lower. This suggests that the EUR is overvalued and that investors are losing confidence in the Eurozone. •Conversely, Japanese 10Y Bonds have been in a strong uptrend for a while now. •The Non-Weighted Currency Index also shows that the Yen is strong, as it recently broke a descending trendline, retested it, and then surged higher. •Meanwhile, the Non-Weighted Currency Index of the Euro shows the opposite pattern. A bearish flag is forming on the daily timeframe, which could indicate a potential decline. •Lastly, we have the monetary policy divergence between the ECB and the BoJ. The BoJ is expected to hold rates, while the ECB is expected to cut. •The only concern is risk sentiment, which could weigh negatively on the Yen. Technical Analysis •On the daily timeframe, there is a strong uptrend, but a bearish triangle has formed. •On the 8H timeframe, we can see a 61% Fibonacci rejection, forming a clear double top, signaling strong selling pressure, followed by a break of a key support level. •On the H4 timeframe, another double top confirms the sellers’ strength, further validated by the break of the 50-SMA, which had previously acted as a dynamic support. •I am expecting a rejection at 50% Fibonacci at 156.180, which will be my entry price. •Stop-loss at 159.400, slightly above the previous support-turned-resistance. •Target: 149.000, a psychological level and a round number. •Retail traders are mostly long (80%), confirming that a short position would be a valid opportunity.
Short
by Marco-kh
EURUSDTrend = Bearish I know a lot of Traders wont agree with my bearish bias but hear me out,....The market broke structure the the downside and closed comfortable below and Pulled back to the Extreme P.O.I and reject successfully to start going down but this is interesting with EURUSD because as much as all the above Paragraph is True The market is currently on a Bullish inside structure that could take it back to Extreme P.O.I because right now the market failed to close below this big support/Demand and Change The Character on lower TF now it's pulling back to hopeful continue trending up after a visible lower TF Rejection......
by CoolSlavesFx