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USDJPY Near 148.500 as Markets Await Key NFP PrintHey Traders, in today's trading session we are monitoring USDJPY for a potential selling opportunity around the 148.500 zone. The pair recently broke its uptrend structure and is now in a correction phase, approaching this important support/resistance level. Structure: USDJPY shifted from an uptrend into a corrective move, with 148.500 acting as a retracement area of interest. Key level in focus: 148.500 — a zone where sellers could regain control if bearish momentum builds. Event risk – NFP scenarios: Below 60k: Would likely trigger immediate USD weakness, keeping pressure on USDJPY and favoring further downside. Between 80k–95k: Could produce an initial USD bounce, but the move may fade as markets recognize it’s still a soft jobs number. Above 100k: Would complicate the bearish USD narrative, as stronger data may support the greenback. Context: Overall, the bias leans toward USD weakness unless a clear upside surprise emerges from NFP. Watching how USDJPY reacts around 148.500 will be key into the weekly close. Trade safe, Joe.
Short
by JoeChampion
6
US30 Pullback Toward 44,600 Within Ongoing UptrendHey Traders, in today's trading session we are monitoring US30 for a buying opportunity around the 44,600 zone. Dow Jones (US30) is trading in an uptrend, with price currently correcting toward this key support/resistance level. Structure: The broader bias remains bullish, but price is pulling back after recent highs. Key level in focus: 44,600 — a significant area where buyers may look to step in and continue the upward trend. Fundamentals: Market sentiment remains broadly supportive for equities, with risk appetite steady as investors weigh U.S. economic data and central bank policy outlook. Trade safe, Joe.
CAPITALCOM:US30Long
by JoeChampion
6
Gold Pullback Toward 3,510 as BRICS Demand and Dollar Weakness.Hey Traders, in today's trading session we are monitoring XAUUSD for a buying opportunity around the 3,510 zone. Gold is trading in an uptrend, with price currently correcting toward this key support/resistance level. Structure: The broader bias remains bullish, but price is retracing after recent highs. Key level in focus: 3,510 — an important zone where buyers may look to step in and resume the upward trend. Fundamentals: Geopolitical alignment among Russia, China, India, and North Korea strengthens the case for continued gold purchases by BRICS central banks. At the same time, the U.S. Dollar Index (DXY) has broken below 98.400 support and could retrace further to the downside, adding to gold’s bullish backdrop through negative correlation. Trade safe, Joe.
OANDA:XAUUSDLong
by JoeChampion
19
Gold Dips to 3,440:Dollar Weakness Sets Stage for the Next SurgeHey Traders, in today's trading session we are monitoring XAUUSD for a buying opportunity around the 3,440 zone. Gold is trading in an uptrend, with price currently correcting toward this key support/resistance level. Structure: The broader bias remains bullish, but price is pulling back after recent highs. Key level in focus: 3,440 — an important area where buyers may look to step in and resume the trend. Fundamentals: The U.S. Dollar Index (DXY) is approaching 98.400 resistance while maintaining a bearish tone. A weaker dollar continues to provide support for Gold, reinforcing the bullish context. Trade safe, Joe.
OANDA:XAUUSDLong
by JoeChampion
12
USDCAD Pullback Toward 1.37900 as Dollar Weakness PersistsHey Traders, in today's trading session we are monitoring USDCAD for a selling opportunity around the 1.37900 zone. USDCAD is trading in a downtrend, with price currently correcting toward this key support/resistance level. Structure: The broader bias remains bearish, but price is retracing upward after recent lows. Key level in focus: 1.37900 — a critical area where sellers may look to re-enter and push the pair lower. Fundamentals: The U.S. Dollar Index (DXY) maintains a bearish tone as Jerome Powell’s recent dovish stance weighs on the greenback. With DXY approaching 97.800 resistance, further downside pressure on USD could reinforce USDCAD weakness. Trade safe, Joe.
Short
by JoeChampion
12
USDJPY Rebound Faces 148.300 Resistance, Eyes on 146.900 Target!Hey Traders, In today's trading session we are monitoring USDJPY for a selling opportunity around 148.300 zone. USDJPY has been moving lower overall, with price currently correcting toward the 148.300 area. Structure: The broader bias has been bearish, but recent price action is showing a short-term pullback. Key level in focus: 148.300 — previously acted as support/resistance. Next move: Rejecting this zone could resume the bearish move, with 146.900 as a potential target since it aligns with the partial trend and a key support area. A break above 148.300, however, would question the downside bias. Monitoring how price reacts around 148.300 to see whether sellers regain control or if the correction deepens. Trade safe, Joe.
Short
by JoeChampion
27
Gold Watching 3,360 Support as Powell Dovish Tone Weighs on USDHey Traders, in tomorrow's trading session we are monitoring Gold for a buying opportunity around 3,360 zone, Gold (XAUUSD) recently broke above the 3,360 resistance, turning it into an important support level to watch on any pullback. A retracement into this zone could help determine whether the breakout has strength to extend toward higher levels. On the fundamental side, Fed Chair Powell struck a dovish tone, signaling support for a potential September rate cut, citing lower inflation pressures and risks in the labor market. This backdrop keeps USD under pressure and maintains a bullish bias for Gold in the near term. Monitoring price action around 3,360 to assess whether buyers defend this level or if deeper consolidation unfolds. Trade safe, Joe.
OANDA:XAUUSDLong
by JoeChampion
27
LINKUSDT – Possible Reversal After 5 Waves UpLINK has just completed a clear 5-wave impulsive move to the upside. With Wave V looking complete, there’s now a high probability of a corrective phase. I’m watching for a potential drop towards the 17.5 USDT zone, which would be a significant percentage move from current levels. 📊 Potential Trade Levels: Entry zone: 24.5 – 23.2 USDT Stop Loss: 27.030 USDT Target: 17.171 USDT This scenario could unfold as an ABC correction. ⚠️ Disclaimer: This is just a personal trading idea based on Elliott Wave analysis, not financial advice. Please manage risk and do your own research before trading.
by TheWaveHunter
APEUSDT – 1D AnalysisHey traders! 👋 Looking at APEUSDT on the daily chart, we can see that the market has completed a clear 5-wave impulse to the downside. After that strong bearish move, the resistance line was broken, which gave us the first signs of a potential reversal. From there, we formed a smaller 5-wave impulse upwards, which could very well be wave A of an ABC zig-zag correction. Following that, wave B unfolded in what looks like an irregular correction. 👉 Now, I’m watching closely for wave C to unfold, which should take the form of another 5-wave impulse. According to Elliott Wave guidelines, wave C often equals the length of wave A. However, in this case, wave A was already quite extended, so I wouldn’t be overly optimistic with projections. The minimum correction target has already been reached, but structurally we’re still missing wave C – so I expect it to play out, potentially in the form of a rising wedge. The good news is that the structure will become clearer as it develops, and we can adjust targets dynamically once price action confirms the pattern. For now, I’m eyeing the green zone as a possible target area for wave C. 📊 Potential Trade Levels: Entry zone: 0.60 – 0.65 USDT Stop Loss: 0.51 USDT Target: 0.99 USDT ⚠️ Important reminder: This is not financial advice – just sharing my Elliott Wave perspective and how I’m viewing the structure right now. The market may develop differently, so please manage your own risk and adjust accordingly. Trade safe, friends! 🙌
Long
by TheWaveHunter
XAUUSD – Watching 3,310 as Price Pulls BackHey Traders, in today's trading session we are monitoring XAUUSD for a buying opportunity around 3,310 zone, Gold (XAUUSD) has been moving lower after its recent swing high, with price now correcting toward the 3,310 area. Structure: The broader bias has been bullish overall, but recent price action shows a corrective move. Key level in focus: 3,310 — previously acted as support/resistance. Next move: Holding above this zone could maintain the medium-term bullish bias, while a clear break below may open the way for deeper retracement. Monitoring how price behaves around 3,310 to understand whether buyers will step in or if weakness continues. Trade safe, Joe.
OANDA:XAUUSDLong
by JoeChampion
31
EURUSD Testing 1.16650 in Descending Channel as DXY Holds 98.100Hey Traders, in today's trading session we are monitoring EURUSD for a selling opportunity around 1.16650 zone, EURUSD continues to trade inside a descending channel, with price correcting upward toward 1.16650, a key resistance zone aligned with channel structure. At the same time, the U.S. Dollar Index (DXY) remains in an uptrend and is approaching 98.100 support. With recent inflation readings running high, markets may expect a more hawkish Federal Reserve, which could support further USD strength. Monitoring how EURUSD reacts near 1.16650 in relation to DXY’s price behavior to gauge whether bearish momentum will resume or consolidation will continue. Trade safe, Joe.
Short
by JoeChampion
11
AUDUSD Tests 0.64400 as DXY Strengthens on Fed BetsHey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.64400 zone, AUDUSD is correcting higher within its broader downtrend, with price approaching the 0.64400 resistance area. This zone aligns with prior supply and could be pivotal in determining whether bearish momentum resumes or a deeper retracement unfolds. The U.S. Dollar Index (DXY) recently broke above the 98.700 key resistance, reinforcing its bullish bias. With U.S. inflation still elevated, markets are focused on potential hawkish commentary from the Federal Reserve at the Jackson Hole symposium — a factor that could further strengthen the dollar and weigh on AUDUSD. Price action around 0.64400 will be critical in assessing whether sellers reassert control or the correction continues.
Short
by JoeChampion
8
GBPUSD at 1.35250 Resistance as DXY Eyes 98.100 SupportHey Traders, in today's trading session we are monitoring GBPUSD for a selling opportunity around 1.35250 zone, GBPUSD is moving within a descending channel, with price correcting higher toward the 1.35250 resistance zone — an area that previously acted as support. Meanwhile, the U.S. Dollar Index (DXY) remains in an uptrend and is approaching the 98.100 support area, which may influence GBPUSD direction if buyers step in. Watching how GBPUSD reacts at 1.35250 in relation to DXY’s behavior could provide insight into whether the current correction ends or extends further. Trade safe, Joe.
Short
by JoeChampion
5
AUDUSD: Gold Breakout & DXY Resistance Could Fuel Bulls!!Hey Traders, In tomorrow’s session, we’re eyeing a buying opportunity on AUDUSD around the 0.65100 zone. The pair remains in an uptrend and is currently in a correction phase, approaching a key support level at 0.65100. We’re also keeping a bullish bias on Gold, which is attempting to break and hold above 3,400. Given the positive correlation between Gold and AUDUSD, this could lend additional upside momentum to the pair. Meanwhile, the DXY is approaching the 98.300 resistance. A rejection from this level could serve as a strong catalyst for AUDUSD bulls. Trade safe, Joe.
Long
by JoeChampion
23
USOIL: Eyes on 64.10 as Geopolitics Take Center Stage!!In today’s session, we’re watching USOIL for a potential short setup around the 64.10 zone. Price action remains in a broader downtrend, with the current move looking like a corrective retracement into a key support turned resistance area. From a fundamental perspective, all eyes are on the scheduled August 15 meeting between Donald Trump and Vladimir Putin. A ceasefire agreement could fuel bearish momentum, potentially accelerating the sell-off. On the other hand, if talks collapse, renewed geopolitical tension could keep oil prices bid in the short term. Technically, 64.10 is the battleground a decisive rejection here could offer an attractive risk reward for sellers aligned with the dominant trend.
TVC:USOILShort
by JoeChampion
4