Hello Traders, In today's trading session, we are closely monitoring the DXY for a potential selling opportunity around the 105.700 zone. The DXY had been trading in an uptrend but recently managed to break out of this trend. Currently, it is in a correction phase, approaching the key retrace area at the 105.700 support and resistance zone. This level is crucial...
Hey Traders, in today's trading session, we are monitoring XAUUSD for a buying opportunity around the 2315 zone. Gold is trading in an uptrend and is currently in a correction phase, approaching the trendline at the 2315 support and resistance area. Fundamentally, today's CPI data was soft, coming in below expectations with both core and headline inflation at 3.3%...
Bitcoin cleared nearest liquidity pool under ~66155 and closed above that level which might be a swing failure - bullish pattern. But too early to confirm that. Target for that bounce is May VAH zone + year VWAP VAH around 69.2k (for the wicks). These are conservative targets that assume rejection and pull back to 67600 at least with further...
13th June DXY: Could retrace, needs to stay above 104.60. If price breaks above 105, could retest resistance at 105.45 NZDUSD: Sell 0.6150 SL 20 TP 50 AUDUSD: Sell 0.6635 SL 20 TP 55 USDJPY: Look for reaction at 158 resistance Buy 158.20 SL 30 TP 115 or Sell 157.80 SL 30 TP 125 GBPUSD: Retrace and reject resistance Sell 1.2810 SL 20 TP 55 EURUSD: Sell...
The DXY spiked higher from the 104.20 price level to 104.60 during the release of the FOMC interest rate decision and the press conference. The move higher has continued through the Asia session with the DXY now approaching the 105-round number level (around the 50% Fibonacci retracement level from the move yesterday) This bullish move in the DXY is likely due...
Gold managed to rose for a second day after Friday's strong NFP selloff, but bulls clearly lack conviction looking at the small bullish candles on the daily chart. This has allowed a retracement channel to form on the 1-hour chart, which suggests momentum could eventually turn lower. With US CPI potentially coming in hot and the Fed pushing back on cuts, it could...
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The whipsaws for the US dollar around US CPI and the FOMC meeting made its mark on USD/JPY, which closed the day with a large hanging man candle beneath the May high. Markets are still deciding whether to pay closer attention to softer inflation data or the Fed's relatively hawkish meeting, and that likely means confusing price action on USD pairs. The 1-hour...
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 ETH has been overall bullish, trading above the rising trendline marked in blue. After rejecting the $4,000 - $4,100 resistance zone, ETH is undergoing a correction phase and it is currently hovering around the $3,500 round number. If the $3,500 is broken downward, a...
THE KOG REPORT – CPI/FOMC This is our view for CPI/FOMC, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile, and these events can cause aggressive...
Highlighting the inverse relationship between the DXY (yellow line) and the BTCUSD. Potential weakness on the DXY tonight could see the BTCUSD continue its bounce from the support level of 66,000 (also formed by the 38.2% Fibonacci retracement level from the longer term) up toward the previous high of 72,000. If the price breaks above the resistance level,...
Considering the scenario that the CPI data is released higher and/or the FOMC presents a hawkish tone, this would mean that the US interest rates could stay high for longer. This would bring significant strength to the DXY which could see massive downside for the GBPUSD. However, the GBPUSD has developed a strong support along the 1.27 price level, formed by...
The EURUSD has found support along the 1.0720 price level (with the 61.8% Fibonacci retracement level and the bullish trendline forming a confluence) If the DXY does weaken with the news tonight, the EURUSD could bounce strongly from the support level to trade higher toward the resistance level of 1.09 (moving similarly to the price action on the 9th of May) A...
USDCAD has been trading within the range of 1.3590 and 1.3780 since the start of May 2024. With the price action indicating a potential rejection of the resistance level, weakness in the DXY could see the USDCAD continue to reverse lower. A consideration as a trigger for the reversal is if the price breaks through the 23.60% Fibonacci retracement level and the...
Massive day for BTC, crypto and the broader markets as CPI and FOMC take place in a time where BTC has taken a dive back towards the range MIDPOINT. Both CPI & FOMC are forecast to be non movers, with 3.4% and 5.5% respectively. Last month CPI was the catalyst for the move from 0.25 to range high, however some of that hard work has been undone in recent days. I...
12th June (FOMC Decision Pending) DXY: Could test and reject 105.60 resistance before trading lower (dovish FOMC) down to 105 support. NZDUSD: Buy 0.6170 SL 25 TP 45 (DXY weakness) AUDUSD: Sell 0.6560 SL 20 TP 65 (DXY strength) USDJPY: Look for reaction at 158 resistance Buy 158.20 SL 40 TP 115 or Sell 157.70 SL 40 TP 115 GBPUSD: Sell 1.2750 SL 25 TP 60 (DXY...
A high number of European Central Bank (ECB) officials are making public speeches in the 24 before the Fed rate decision this week Wednesday that could help or hinder the EUR/USD. Also, thrown in the mix now is French President Emmanuel Macron’s decision to call for a snap local election after the results of the EU Parliament elections, adding to market...
The U.S. Federal Reserve is anticipated to maintain the federal funds target range at 5.25%-5.5% when officials conclude their two-day meeting on Wednesday. Investors will be scrutinizing the statement to learn when the central bank might eventually reduce its rate and the potential frequency of such cuts this year. Market expectations suggest a possible rate...