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AUDUSD SELL | CPI, RBA Gov Lowe speaks | 31st May 2023Fundamental Backdrop RBA Gov Lowe spoke today He mentioned "Very Much in Data-Dependent Mode on Interest Rates", " "Monetary Policy in Restrictive Territory" This means that the RBA is closely monitoring economic data and could potentially continue increasing interest rates CPI y/y also increased from 6.3% to 6.8%, this shows inflation is still on a strong rise which can lead to the increase in interest rates. Technical Confluences Near-term resistance level at 0.65100 Near-term support level at 0.64150 Idea Today's speech by RBA Gov Lowe indicates towards raising more interest rates in the future. Based on previous data whenever the RBA raises interest rates, the AUD rises a few days before it drops. We could see the AUD head towards the next support level at 0.64150 if interest rates are raised on 6th June. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Short
by OlympusLab
Cotton Cash Contract - Rectangle PatternCommodity: Cotton Cash Contract Introduction: Hello everyone! Today, we'll be analyzing the Cotton Cash Contract on the daily scale traded on Pepperstone. After a clear downward trend, the contract seems to have entered a consolidation phase, possibly forming a rectangle pattern. Analysis: The rectangle pattern we're observing has been forming for around 196 days. The upper boundary of this pattern is approximately at $90, which has been tested three times so far. Meanwhile, the lower boundary is at around $77.50, with two touch points to date. Currently, the price hasn't managed to cross above the 200 EMA. However, if we observe a breakout above the upper boundary, it would place the price above the 200 EMA, potentially paving the way for a long entry. Upon a valid breakout, our projected price target would be $100.660, translating into a potential price rise of approximately 13%. Conclusion: The Cotton Cash Contract's technical analysis suggests a consolidation phase marked by a potential rectangle pattern. A breakout above the upper boundary might signal a shift to a bullish trend and could provide an opportunity for a long position. As always, be sure to conduct your own research and risk management before investing. Thank you for tuning into this analysis. Please like, share, and follow for more insights into the market. Happy trading! Best regards, Karim Subhieh
PEPPERSTONE:COTTON
by KarimSubhieh
Bitcoin Cash 💶 Analysis #12/50Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. BCH has been stuck inside a big range between the 100.0 support and 150.0 resistance. Now BCH is approaching the lower bound / support zone so we will be looking for buy setups on lower timeframes Moreover, the red trendline is acting as a non-horizontal support. 🏹 So the highlighted blue arrow is a strong area to look for buy setups as it is the intersection of the blue 100 support and red trendline. As per my trading style: As BCH approaches the lower blue arrow, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
2
BCH Looking Really Weak! Long Term Dead Cat Bounce!The BCH chart is looking really weak. Failed to even get to its prior high while much of the altcoin market has either reached or exceeded their prior all time high and are now forming supports for their next leg up. BCH has been a real laggard in this run and I feel like support is dropping and hodlers are selling by the looks of the chart. Don't wait for this coin to hit 1 dollar, just dump it and move on to the real thing or other better options. Good luck.
KRAKEN:BCHUSDShort
by Bitgolder
28
$DXY - It has been my best friend for while...$DXY - It has been my best friend for while... We have a saying in trading: The trend is your friend until it breaks! We reaching key areas, my longer term target if we break above 110 areas next 120 IF we get there. I do really like to keep an open mind to either direction. However, we had a large pull back this morning which makes sense to have. Keep an eye on the key areas we at break above or below shorter term and longer term the big question is - Is this a pattern brewing of a rising wedge to have a pull back medium term? Things to keep in mind are the key fundamental data we had FOMC yesterday dovish and 75 hike it was expected the slimmer chance weeks went by of 100 and that did sound like a joke imo. However, we pulling back FX Majors check HT as it really key and we entering near end of month as well. Remember: Follow your own trade plan, it will make you very successful. TJ
ICEUS:DX1!
by Trade_Journal
Will Bitcoin Cash see $25.00?BCH has always followed in the foot steps of Bitcoin rightfully so consider BCH is a soft fork of Bitcoin itself, hence the name Bitcoin Cash. Over this past cycle Bitcoin Cash has managed to perform above average in my opinion. I am one of those people whom believes that BCH will follow the price of Bitcoin itself and will one day be worth over $20K although that depends heavily upon financial regulations that could unfortunately put an end to BCH, an highly unlikely scenario, but none the less could happen. Now the purpose of this chart is to show the major downward angles and how BCH is building them into support. It appears as if we have made it out of a strong resistance barrier. Although we are hovering around $101.20 as of the time of writing this. I am not to optimistic about the price of #BCH at this moment I am eye balling the low at around $25 to $75 We can see on the chart that BCH seems to be stuck below the $103.00 resistance level and is looking to take a leg lower. I am going to go out on a limb here and say that Bitcoin Cash will be dropping some time before Wednesday. I normally don't throw a day out like this, but I feel confident saying that considering all the charts and news that I have reviewed recently. I also have a nice buy order set up below $25 In my opinion if Bitcoin takes this next leg down as I have been expecting than we will see Bitcoin Cash do the same as well. When this happens Bitcoin Cash should bottom out as well. When Bitcoin itself was around this point age wise on a lot of exchanges the price dropped to .01 cents for a moment. I would of liked to have bought #Bitcoin at that price, but I didn't get a chance to.
by Cryptocrash1
More downside before upside.BTC at around $28,700 area right below what used to be a strong support level at $29,000. BTC has tried 3 times to go over $30k but it has failed to break substantially above it forming a wedge pattern. The 200ema is above the 50ema and below that the 20ema, signaling bearish momentum. The most likely scenario is that we go back down to that $27k area before we get another pump up to the $30k resisatance level and test once more. Why is BTC down? FED moniteray policy (intrest hikes) Inflation Terra (Luna) crash and UST depegging I dont think we are going to test $25k for the moment because BTC was over sold when it hit that area due to multiple factors (mentioned above), more likely $27k is the first stop down, but if after hitting $27k we go up and get rejected at $30k again $25k becomes more likely. Buying opportunity? Yes. Extreme Fear rules the crypto space but if you have a little cash around it is a good time to get some BTC, I wouldnt spend all my money on t just incase there is more downside but anything under 30k right now is a good buy. Save some cash! Cash is King right now, its not only BTC that is down, all markets are down so be smart and invest wisely and keep some cash reserves.
BITSTAMP:BTCUSDShort
by Tradingday22
2
The BEST position of 2022? The answer may surprise you...What has been the best investment/position of 2022? The best trade was of course to be "short stocks" or "short crypto" but where could we have put capital to have achieved the best return. Believe it or not, despite all the FUD narratives about inflation and the US Dollar's weakness, one of the best performing assets of 2022 was in fact... US Dollars. That's right, "cash is a position" and relative to other world currencies the US Dollar has been RISING. Your cash buys more stock, more crypto, more foreign currency.
TVC:DXY
by norok
30
Bulls are again attempting to push through $360-levelBitcoin Cash coin approaching the crucial supply zone after drawing the triple bottom formation over the daily price chart. Bitcoin Cash reclaimed 8% market capitalization, which is now at $6,74 Billion. The daily bitcoin cash price EMA ribbon as seen above the red ribbon of the indicator supports a bullish trend but the digital asset price is still below the 200-EMA (yellow). Moreover, Stoch RSI is looking flat in the overbought area concerning the regular price graph. Nevertheless, the Average Directional Index shows a slightly bullish trend for the Bitcoin Cash coin. It looks like Bitcoin Cash holders don't want to miss out on a buying opportunity and may be able to jump the crypto price above the supply zone. On the other hand, if they fail to go up, they may again face a pullback. Support level - $300 and $280 Resistance level - $360 and $470
Long
by TheCoinRepublic
MCDOWELL_N BUY @ 844 & TARGET @ 855Dear Traders, MCDOWELL_N BUY @ 844 & TARGET @ 855 Many people made huge profits last week and as per my predictions , the market was running same direction and entry and exit strategies where bang on target. Dear traders kindly follow our signals for maximum profits, our signals are based on analytics, algorithms, mathematical derivatives. Always be a responsible trader, kindly trade only when you have maximum opportunity in the market with minimum risk and with keynotes like data,analysis and proper strategies. Kindly message us for strategies and analysis.
NSE:UNITDSPRLong
by Tallastrading