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#AN005 What Changes After USA-China, ECB and Oil Hello, I'm Andrea Russo, forex trader and creator of the SwipeUP Elite FX Method, which analyzes the market as a Hedge Found. Today I want to talk to you about the latest crucial economic news of the week that will influence the currency markets. Let's start with the important trade meeting between the United States and China that took place in London. The negotiations, mainly focused on exports and rare earth metals, showed positive signs with optimistic statements from both sides. This event immediately brought an improvement in global sentiment, strengthening trade-sensitive currencies such as the Australian dollar (AUD) and the New Zealand dollar (NZD), while the US dollar recorded a slight decline. The World Bank, on the other hand, tagged its 2025 global growth forecast from 2.8% to 2.3%. This downgrade reflects significant concerns for the United States, China and Europe, due to trade uncertainties and reduced investments. This scenario, however, could favor some emerging currencies, such as the Brazilian real (BRL) and the Mexican peso (MXN), which benefit from less restrictive monetary policies and a reduction in pressure on the US dollar. Looking at Europe, the European Central Bank (ECB) has decided to further reduce rates, bringing them to 2%, with the possibility of further decreases of up to -0.25% by the autumn. This expansionary policy is dictated by the need to support a stagnant economy and contain inflation. Inevitably, this will put pressure on the euro (EUR), which is expected to weaken against major currencies, especially the dollar. In the United States, on the other hand, all eyes are on the May CPI due on June 11. Inflation is expected to be 2.5%, and the publication of data that is above or below expectations could generate strong volatility on the dollar. A higher CPI would strengthen the dollar, reducing the likelihood of a rate cut by the Federal Reserve, while a lower reading could further weaken the greenback. Finally, oil has also rallied, with WTI up 6% and Brent up 4%. This increase has been driven by a more favorable geopolitical context and the reduction of trade tensions. The effect on currency markets is direct, favoring commodity-related currencies, such as the Canadian dollar (CAD) and the Norwegian krone (NOK), while currencies such as the euro (EUR) and the Japanese yen (JPY), of oil-importing countries, could find themselves in difficulty. In summary, the current week is proving to be crucial for Forex: declining trade tensions are supporting trade-related currencies, the ECB's accommodative monetary policy is weakening the euro, while US economic data will drive sentiment on the dollar. To stay updated on future developments, continue to follow my analyses and articles here on TradingView.
Education
by Andrea_Russo_SwipeUP
EURUSD is moving within the 1.13640 - 1.14550 range👀Possible scenario: The euro (EUR) rose 0.22% against the U.S. dollar on June 9, supported by optimism over diplomatic progress between Washington and Beijing on rare-earth minerals and advanced tech. U.S. officials called the talks fruitful, easing global economic concerns. The ECB’s recent 25-basis-point rate cut lowered borrowing costs to their lowest since November 2022, but hints that easing may end soon kept the euro steady. With a quiet macro calendar on June 10, traders will watch ECB speeches for clues on future policy. ✅Support and Resistance Levels Now, the support level is located at 1.13640 Resistance level is located at 1.14550
by MaxOnMarkets
EURO - Price will strart to grow and exit from wedge patternHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Price entered to wedge pattern and at once dropped below $1.1455 level, breaking it and then some time traded below. It continued to decline and in a short time reached $1.1220 level and broke it, after which fell to support line. Then price started to grow and soon broke $1.1220 level one more time, after which made a retest and continued to grow. Euro rose to $1.1420 points and then corrected to support level, after which turned around and rose to resistance level. Recently price reached resistance level, but then it bounced and started to decline, and now it continues to fall. I think that Euro can decline a little more and then bounce up to $1.1550, exiting from wedge. If this post is useful to you, you can support me with like/boost and advice in comments❤️ Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
Long
by WalterMoon
16
EUR/USD BEARS WILL DOMINATE THE MARKET|SHORT Hello, Friends! We are going short on the EUR/USD with the target of 1.136 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ✅LIKE AND COMMENT MY IDEAS✅
Short
by EliteTradingSignals
1
What Is a Morning Star Pattern & How Can You Use It in Trading?What Is a Morning Star Pattern, and How Can You Use It in Trading? The morning star candlestick is a popular price action pattern that technical analysts and traders use to identify potential trading opportunities. It indicates a reversal from a bearish to a bullish trend and is a valuable addition to any trader's toolkit. In this article, we will cover all the technical aspects of the morning star candlestick pattern. What Is the Morning Star Candlestick Pattern? The morning star in technical analysis is a reversal formation that appears at the end of a downtrend and signals a trend reversal. It consists of three candles. To identify it on the chart, you should look for the following: 1. Downtrend: The market should be in a downtrend, and the first candle should be long and bearish. 2. Indecision: The second candle is usually expected to have a gap down, but gaps are uncommon in forex. Therefore, a small-bodied candle is considered sufficient. It's worth noting it can be either bullish or bearish, but if it’s bullish, the signal is stronger. 3. Significant increase: The third candle should be strong and bullish and close above the midpoint of the first bearish one. If it forms with a gap up, the buy signal is considered stronger. When Morning Star Candlestick Patterns Occur Traders can identify the morning star candlestick pattern in stocks, forex pairs, commodities, and cryptocurrencies*. It may also be observed across various timeframes, from minutes to weeks. Generally speaking, a morning star pattern can be considered more reliable when it appears on a higher timeframe. For instance, a morning star candlestick pattern has more significance when it occurs over three days vs three minutes, given the increased amount of price action and market participation reflected over longer periods. Psychology Behind the Pattern The morning star reversal pattern reflects a shift in market sentiment from bearish to bullish. Initially, a strong bearish candle indicates prevailing selling pressure. The second candle, with its small body, suggests indecision as the market stabilises and neither bulls nor bears dominate. This pause indicates that sellers are losing momentum. The third morning star candle, a strong bullish one, confirms the shift as buyers take control, driving prices higher. This pattern signals that the downtrend is likely exhausted, and a potential reversal is underway due to increasing buyer confidence. Trading with the Morning Star Traders can use the following steps to trade this setup: 1. Identify the setup: Look for a setup on the chart formed after a solid downtrend. 2. Confirmation: After identifying the formation, traders should confirm it before entering a long position. 3. Enter a long position: Consider entering a long position once the formation is confirmed. 4. Determine a take-profit target: Although candlesticks don’t provide specific entry and exit points, traders may consider the closest resistance level to take potential profit. 5. Monitor the trade: Continuously monitor the trade and adjust the stop-loss and take-profit levels as needed based on market conditions. What Is the Morning Star Candlestick Strategy? The morning star trading strategy leverages the formation's ability to signal a bullish reversal after a downtrend. The formation's reliability increases when it occurs at a support level and is confirmed by a momentum indicator like the RSI or MACD. Entry: - Traders look for the full morning star to form at a support level. - They then look for a confirmatory bullish signal from a momentum indicator, such as RSI showing oversold conditions, a bullish MACD crossover, or a bullish divergence in either. - Traders may wait for additional confirmation, like RSI moving back above 30, or enter on the close of the third candle in the pattern. Stop Loss: - A stop loss might be set below the swing low of the setup. - Alternatively, traders may place the stop loss beyond the lower boundary of the established support level. Take Profit: - Profits might be taken at a predetermined risk-reward ratio, like 2:1 or 3:1. - Traders also often aim for an opposing resistance level where a further reversal might occur. Morning Star and Other Formations Traders should not confuse the morning star candle formation with other formations, such as the evening star, which is the complete opposite. Doji Morning Star In a traditional morning star reversal pattern, the candle that appears in the middle of the formation has a small real body, meaning there is a clear difference between the opening and closing prices. In a morning doji star formation, the second candlestick has characteristics of a doji, where the opening and closing prices are very close to each other, resulting in a very small real body. This reflects the indecision as neither bulls nor bears can take control of the market. The doji setup is less common than the traditional formation, but it still signals a potential upward movement after a prolonged downtrend. Evening Star In contrast to a morning setup, an evening star is a bearish setup occurring after an uptrend. It also consists of three candles – a long bullish one, a small-body one (it can also be a doji), and a long bearish one that closes below the midpoint of the first bullish candle. This suggests that the market is about to turn down. Benefits and Limitations of the Morning Star Candle The morning star is a useful tool for traders seeking to identify potential market reversals, but it does come with some benefits and limitations. Benefits - Strong Reversal Signal: Indicates a bullish reversal after a downtrend, helping traders anticipate upward moves. - Broad Applicability: Effective across various financial instruments such as forex, stocks, commodities, and cryptocurrencies*. - Timeframe Flexibility: It can be observed on different timeframes, from intraday to weekly charts. Limitations - False Signals: Like all patterns, it can produce false signals, especially in volatile markets. - Confirmation Needed: A morning star pattern entry requires confirmation from additional indicators or formations to improve accuracy. - Experience Required: Identifying the formation correctly and interpreting its signals requires experience and a good understanding of price action. Final Thoughts While candlestick formations such as the morning star can be useful for traders to identify potential trading opportunities, it is crucial to remember that they are not foolproof and should not be the sole choice of market participants when making their trading decisions. Traders should also incorporate technical indicators and develop risk management techniques to potentially minimise losses. FAQ What Is a Morning Star in Trading? The meaning of a morning star in trading refers to a bullish reversal formation consisting of three candles. It appears at the end of a downtrend, indicating a potential shift to an uptrend. The setup includes a long bearish candle, a small-bodied candle, and a long bullish candle. Is the Morning Star Bullish or Bearish? It is a bullish candlestick pattern that indicates a potential reversal from a downtrend to an uptrend in the market. It suggests that the selling pressure is subsiding, and buying pressure is beginning to take over. What Does the Morning Star Pattern Indicate? It is a three-candle price action, often indicating a bullish reversal in the market. It suggests that selling pressure has been exhausted, and buyers are starting to gain control of the market. How Do You Read the Morning Star Pattern? To read the morning star formation, traders should look for the following characteristics: a long bearish candle formed in a solid downtrend and followed by a bullish or bearish candle with a small real body, which in turn is followed by a long bullish candle closing above the midpoint of the first one. What Is the Opposite of Morning Star? The opposite of a morning star is the evening star, a bearish reversal pattern. It appears at the end of an uptrend, signalling a potential shift to a downtrend. The morning and evening stars are similar, except the latter mirrors the former, consisting of a long bullish candle, a small-bodied candle, and a long bearish candle. *Important: At FXOpen UK, Cryptocurrency trading via CFDs is only available to our Professional clients. They are not available for trading by Retail clients. To find out more information about how this may affect you, please get in touch with our team. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Education
by FXOpen
1
MarketBreakdown | EURUSD, AUDUSD, USDCHF, EURCAD Here are the updates & outlook for multiple instruments in my watch list. 1️⃣ #EURUSD daily time frame 🇪🇺🇺🇸 Though the pair remains quite weak for the last few days, I strongly believe that bulls have unrealized potential. The pair may continue rising and reach the underlined yellow resistance soon. 2️⃣ #AUDUSD daily time frame 🇦🇺🇺🇸 The price is testing a significant horizontal resistance. Its bullish breakout will provide a strong bullish signal. The pair will go way higher then. 3️⃣ #USDCHF daily time frame 🇺🇸🇨🇭 The price is stuck within a narrow consolidation range. I think that a sideways movement is going to continue and the price will drop to the support of the range soon. 4️⃣ #EURCAD daily time frame 🇪🇺🇨🇦 The price action is contracting within a symmetrical triangle pattern. Such a pattern signifies a deep indecision. A breakout of one of its boundaries will indicate the side of the next market move. Do you agree with my market breakdown? ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by VasilyTrader
1
EURUSD Asia Trade Executed June 10EURUSD Trade Executed June 10 Parent range Premium Previous session Premium Suspected Sell off Asia/London Asia Framework *Price took equal lows liquidity in NY AM session *Retraced in NY PM to a session premium *Consolidated to close NY in a premium Idea for June 10 *Asia opens to take minor buy side into a FVG- recognizing Asia hunts for minor liquidity before its expansion and with bias identified I am gaining confidence to be patient like today to wait for Price to align to my ideas *Price bodies tap the CE of the FVG-tippings its hand it will roll over *Because I was impatient yesterday I waited for 20:00 delivery to play out before reacting *20:45 small consolidation/minor retracement *21:05 swing high to CE of 20:35 candle and first presented FVG *21:06 entry *Targets speculated that Price was in a session premium with the anticipation to come down to the 50 level-1.14125 level and the FVG targets noted *21:50 Exit trade second target hit-I actually set the target and got stopped out! *Employed the Standard Deviation tool that aligned with the 1.14000 price I exited on-pretty cool! Greed kept me closing the trade and being very happy even though my sentiment was price could reach for equal lows which it did. For reference I use DXY to frame this trade speculating DXY would run to its buy stops and it did! Great delivery. Great analysis. So happy with this Asia trade.
by LeanLena
EURUSD SHORT FORECAST Q2 W24 D10 Y25EURUSD SHORT FORECAST Q2 W24 D10 Y25 Professional Risk Managers👋 Welcome back to another FRGNT chart update📈 Diving into some Forex setups using predominantly higher time frame order blocks alongside confirmation breaks of structure. Let’s see what price action is telling us today! 💡Here are some trade confluences📝 ✅Weekly order block ✅15' order block ✅4 hour order block ✅Tokyo ranges to be filled 🔑 Remember, to participate in trading comes always with a degree of risk, therefore as professional risk managers it remains vital that we stick to our risk management plan as well as our trading strategies. 📈The rest, we leave to the balance of probabilities. 💡Fail to plan. Plan to fail. 🏆It has always been that simple. ❤️Good luck with your trading journey, I shall see you at the very top. 🎯Trade consistent, FRGNT X
Short
by JCFRGNT
EURUSD INTRADAY Bullish continuation pattern developing Trend Overview: EUR/USD continues to exhibit a bullish price structure, supported by a rising trendline and higher lows. Recent intraday action reflects a corrective pullback, suggesting a temporary pause within the broader uptrend. Key Technical Levels: Support: 1.1300 (primary), followed by 1.1235 and 1.1180 Resistance: 1.1430 (initial), then 1.1470 and 1.1500 Technical Outlook: A pullback toward 1.1300, which coincides with the previous consolidation zone, may present a bullish continuation setup. A confirmed bounce from this level could open the path toward 1.1430, with 1.1470 and 1.1500 as potential longer-term targets. However, a daily close below 1.1300 would indicate a breakdown of near-term bullish momentum. This scenario would increase the likelihood of a deeper correction toward 1.1235, and possibly 1.1180. Conclusion: The outlook for EUR/USD remains constructively bullish, contingent on the 1.1300 support holding. A bounce from this level would reinforce the uptrend. Conversely, a decisive break below 1.1300 would shift the short-term bias to bearish, suggesting further downside toward the 1.1200 area. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
The Day Ahead Market Watch – Tuesday, June 10 (Technical Focus) Key Data Releases (Potential Volatility Triggers): US NFIB Small Business Optimism (May) – Watch for shifts in sentiment that could influence the USD and S&P 500 direction. 3-Year Note Auction – Yields could impact Treasury curve dynamics; monitor for demand strength or weakness. UK Average Weekly Earnings (Apr) Unemployment Rate (Apr) Jobless Claims Change (May) These labor data points are pivotal for GBP crosses. Stronger wage data may support GBP/USD, especially near key resistance around 1.2800. Japan M2 & M3 Money Supply (May) Machine Tool Orders (May) Typically low volatility, but may offer insights for JPY if surprise deviation occurs. Italy Industrial Production (Apr) – Weakness could pressure FTSE MIB if it breaks below short-term support near 34,000. Sweden GDP Indicator (Apr) – May impact SEK, especially against EUR if growth deviates significantly. Norway & Denmark CPI (May) – Inflation data could move NOK and DKK, especially if it challenges central bank guidance. Central Bank Speakers (Volatility Risk): ECB: Villeroy, Holzmann, Rehn Hawkish or dovish signals may drive short-term EUR/USD moves; key resistance to watch: 1.0900. Watch German bund yields for confirmation. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
EURUSDPrice has recently retraced to a key support zone and is showing bullish structure on the lower timeframes. A long position is anticipated based on the confluence of the Fibonacci retracement and recent bullish momentum. Entry: Buy EUR/USD at current market price or upon confirmation of bullish candlestick pattern near the 50%-61.8% Fibonacci retracement zone. Partial Take Profit: Secure partial profits at the 50% Fibonacci retracement level of the previous swing move. Final Take Profit: Trail remaining position toward the 100% extension or next significant resistance. Stop Loss: Below the 61.8% retracement or just under recent swing low for risk management. Rationale: Bullish order flow combined with Fibonacci confluence suggests a potential continuation move to the upside. Taking partial profits at the 50% level ensures capital protection while allowing room for extended gains.
Long
by mwananukachabota