AUDUSD as shown on the 30-minute chart has crossed over the mean VWAP anchored back 5
days. From here I expect a move toward the upper first and second VWAP lines and so will
take a long trade targeting 0.6535 initially ( aVWAP+1) and 0.655 for the higher target ( aVWAP
+2) The stop loss will be under the mean VWAP at 0.6515.
USDJPY has been in a narrow range consolidation since a one week trend up from March 14-20.
The dual time RSI indicator shows the faster green RSI line under the stable slower RSI line
showing some bearish divergence. The predictive also's blue line forecasts a slow downturn.
I am taking a short forex trade on USDJPY expecting price to fall into the support of...
Why has gold broken above the $2,000 level? And why is it likely to stay this way for a long time?
This is because the USD has been weakening since October, and we can observe an inverse relationship between them during this period, as well as in previous periods.
Micro Gold Futures & Its Minimum Fluctuation
0.10 per troy ounce = $1.00
Code: MGC
Disclaimer:
• ...
Traders,
The dollar continues its journey down. So, is my H&S pattern still intact? Well, on the weekly it is. Does that count? I think so.
It's not like the dollar has turned the corner here and growing stronger. We are still very much in a downtrend. Even that right shoulder is still valid. And, like I said, on a weekly chart that neckline still holds. Once...
The Chinese yuan, also known as RMB, is the official currency of China. It is used both onshore in mainland China and offshore in international markets.
The offshore yuan, also known as the CNH (Chinese yuan - Hong Kong), is the version of the yuan that is traded outside of mainland China. It is traded in offshore financial centers, such as Hong Kong, Singapore,...
When the mighty dollar weakens, what is to follow for the markets? hmm, hmm, hmm.
Daily Chart clearly shows a rally into the supply zone . I'd say 1-2 more daily candlesticks before a retracement happens but first it may attempt to reach another high before getting rejected below the supply zone . I wont doubt that supply zone will break the next attempt at it...
OANDA:XAUUSD
The chart shows a reversal in SPOT GOLD since July 13th and the latest round
of CPI/PPI data showing the continued onslaught of inflation.
Gold is rising while the dollar strength is dropping as per the DXY index.
This all makes sense at least to your average person who is not
an economist. That said, XAUUSD has a bullish bias as a hedge
against...
Watching EurUsd in the London session for a drop into the levels marked on the chart. If we do, I will go in looking for a long to target BSL and maybe leave something on for the level above marked in Grey ;).
Hello Traders!
I expect Mr.Powell to be dovish in this meeting this is why I favour NZD long against the USD.
Take Profit levels are labelled.
Have a great week!
Vitez
Looking to see dollar weakness caused by CPI news event at 8:30 am est on 6-10-21. Predicting this event will show continued dollar inflation. FED balance sheet has shown growth in the supply of USD over the past few weeks. This has caused raw materials, and retailers to raise prices across the board. This event has a history of causing a stop hunt.
Is it good time to sell the ninja now. USDJPY is welcoming 110.00. After has gone so far towards the upper world, now the ninja felt unmotivated to get more higher.
The sign was there.
This will be the last time for the ninja greeting the 110.00 back before the price going to the upper side. The uptrend is now and this will be the turning point for USDJPY.
Tips...
$EURUSD is setting up for a massive rally in wave 3. Wave 3 should exceed the high of wave 1 and might advance 1x or 1.618x wave 1.
Price is sitting at a critical confluence level comprising of 61.8% Fibonacci retracement of the advance, and wave (c) equal 0.618 x Wave (a).
I took a loss on last week because I was initially labeled the correction as a regular flat...
USDCHF seems to be making a double zigzag Elliot Wave corrective chart pattern.
The wave X of the double zigzag is currently retesting the upper trend channel that lined up with key psychological number 1.0000.
The price of USDCHF has the potential to turn lower as other negative correlated pairs like EURUSD, GOLD are heading higher.
What's your thought about...
Everyone involved in FX trading has their eyes peeled on price charts and fundamental data that comes out every first Friday of each month, when Non-Farm Payrolls data is made public for the month before. This creates volatility during the day, and also a very significant price level where the market reacts, either being attracted to or rejected from the...
