In this video, we delve into the recent movements of the Pound Sterling against the US Dollar as the GBP/USD pair hits a temporary pause near the key resistance level of 1.2700. Investors are closely watching the upcoming release of the United Kingdom's Consumer Price Index (CPI) data for April, which is expected to provide crucial insights into the interest rate...
In this educational video, we delve into the recent surge in gold prices. There has been a notable uptick in gold prices, with XAU/USD recently surpassing the $2,400 mark, for the first time in almost a month. This surge in gold prices has piqued the interest of traders and investors, prompting speculation about the underlying factors driving this upward...
The USD/JPY is one of the sell pairs we have from the portfolio selection we did yesterday. The Major pull for us thinking of shorting this pair is the wave structure (3) Momentum Low; this price point has over 70% probability that at some time in the future, the price will come back there after a retracement. On Friday,15-minute timeframe, we saw a breakdown...
Join us as we delve into the latest developments shaping the GBPUSD landscape. The Pound Sterling rebounded in the second half of the week driven by robust Q1 GDP figures from the UK's Office for National Statistics, indicating a resilient economy. With a growth rate of 0.6%, surpassing expectations, the UK appears to be steering clear of recessionary woes. This...
In this week's XAUUD analysis video, we delve into the recent surge in Gold prices amidst economic uncertainties in the United States. The previous week witnessed a notable uptick in Gold prices amidst the struggle of the US treasury to gain traction. Additionally, the University of Michigan survey revealed a pessimistic sentiment among Americans, with Consumer...
NZDUSD is in a downward trend channel. This suggests that the New Zealand dollar is weaker than the US dollar. Price has recently showed some rejection at the top of the channel therefore we are looking to sell. The Take Profits target should be 0.58807 .We will set our Stop Loss at 0.60400 to manage risk in case the price reverses. It is important to closely...
Hey Traders, This is my take on the CADJPY Looking at the 1HR and the 15 Mins timeframes. Momentum precedes prices! When there's an ongoing primary trend and a completed wave structure, wait for the price to be discounted/pullback. This discounting in price gives us a piece of important information, we can deduce whether the price will continue the primary trend...
Amidst the uncertainty characterized by global events, last week witnessed the GBP/USD pair caught in the crosscurrents of rising geopolitical tensions and pivotal central bank pronouncements. Bank of England's Deputy Governor, Dave Ramsden, took centre stage with remarks on inflation risks, yet failed to provide the anticipated support for Sterling as it plunged...
In the latest global events, Gold has soared to new heights, hitting a five-day peak above $2,400 fueled by escalating tensions between Israel and Iran. Investors sought refuge in the non-interest-yielding asset as uncertainty loomed, driving prices to a weekly high of $2,417 per ounce. However, the rally proved fleeting as Iran quashed fears of immediate...
If price move above 1.0690, I'll be looking for sell setups. Taking my profits around 1.0601.
- Market Sentiment: Bullish Bias - Weekly Chart Analysis: Violation of Recent Resistance Indicates Strength - Trade Plan: Buying Opportunities Favored over Shorting Analysis: - Market Sentiment: Maintains Bullish Bias on US Dollar, despite market volatility - Weekly Chart Analysis: Notable violation of recent resistance level on the USDJPY Weekly...
Trade Strategy: Trend Continuation - Key Level (1-hourly chart): Retest at 1.2419 - Additional Setup (4-hourly chart): Bullish Shark Pattern at 1.2141 Analysis: - Approach: Identifies potential opportunities for trend continuation trading - Key Level: Looks for a retest at 1.2419 on the 1-hourly chart as an entry point - Additional Setup: Considers...
4h is creating a pennant indicating strong possibility of continuation. All time highs currently so only possible resistance levels to go off of is the Fib levels. -23.6=TP1 -50=TP2 -61.8=TP3 Price is rejecting the 50% 4h fib level.
This week, I'm maintaining my bullish sentiment on USDJPY, and here's my trade plan: 1. Support Retest at 148.53: I'm looking for a buying opportunity if the market retests the support level at 148.53. This level has shown previous support and could act as a launching pad for further upward movement. 2. Bullish Trendline Retest: Alternatively, I'll keep an eye...
This week, I'm feeling bullish on GBPUSD, and here's why: 1. Weaker Bullish Trend on Daily Chart: Although the bullish trend on the daily chart is weaker, the recent violation of previous resistance suggests potential upward momentum. 2. RSI Divergence on 1-hourly Chart: The presence of RSI Divergence on the 1-hourly chart indicates a possible reversal or...
The Pound Sterling (GBP) gains strength as market sentiment improves, driven by a growing appetite for risk-sensitive assets. This sentiment is reinforced by soft wage growth and a sharp rise in the Unemployment Rate reported by the United States Bureau of Labor Statistics (BLS) for February. The outlook for the GBP/USD pair remains positive, with widespread...
This week, while many counter-trend traders might be eyeing a short on NZDUSD due to a potential setup on the 4-hourly chart, I'm taking a different approach. Why I'm Bullish: 1. The market retested the previous resistance without creating an RSI Divergence, which raises concerns for a strong bearish move. 2. I'm looking for a buying opportunity at...
1. Bullish Bias: - I have a more bullish outlook on GBPJPY compared to GBPUSD. - Clear violation of the Daily Chart on both GBPUSD and GBPJPY. 2. Trading Setup: - A Type2 Bullish Gartley Pattern on GBPJPY is the key trading setup. - Aiming to go long on GBPJPY. Share your insights and trade plans for the week. What's catching your eye? Let's discuss and...