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XAUUSDHello Traders! 👋 What are your thoughts on GOLD? Gold continues its strong uptrend, printing new highs, but price action now shows signs of overbought conditions. It appears that the bullish rally may pause for a short-term correction before resuming its upward momentum. In this zone, we expect gold to form a new short-term high near the upper boundary of the ascending channel, followed by a pullback toward the highlighted support areas. The overall long-term trend remains bullish — it’s better to avoid selling and instead look for buying opportunities during corrective moves. What do you think — will gold continue its rally after this correction? Don’t forget to like and share your thoughts in the comments! ❤️
FOREXCOM:XAUUSD
by HAMED_AZ
49
GBPUSD Short Trade Plan – PRZ in Sight!Today I want to review a short setup on the GBPUSD ( FX:GBPUSD ) pair . GBPUSD is currently near the Resistance zone($1.360-$1.351) and Support lines . The question is, can GBPUSD break the Support lines!? GBPUSD started to decline with a lot of momentum over the past week and this is a good sign for a break of the support lines . According to Elliott Wave theory , GBPUSD appears to be completing microwave 4 , and given the bearish momentum , we can expect microwave 5 to break the support lines . I expect GBPUSD to fall at least to the Potential Reversal Zone(PRZ) . Stop Loss(SL): 1.3600 USD Please respect each other's ideas and express them politely if you agree or disagree. British Pound / U.S Dollar Analysis (GBPUSD), 4-hour time frame. Be sure to follow the updated ideas. Do not forget to put a Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
11
Short Setup on AUDUSD | Key Level at $0.667 TestedToday I want to share with you a Short position on the AUDUSD ( OANDA:AUDUSD ) pair. In the previous idea on AUDUSD, I managed to find the first part of this uptrend rally . AUDUSD is currently trading in the Resistance zone($0.6714-$0.6622) and Potential Reversal Zone(PRZ) and near the Resistance lines . Also, one of the reasons why I took this Short position on the AUDUSD pair is that the AUDUSD is approaching $0.667 , which is an important number in previous rallies (in terms of trading volume ) on the daily and weekly time frames. I expect AUDUSD NOT to break the $0.667 level without a correction (at least), so a drop to $0.6614(First Target) is at least possible . Second Target: $0.6580 Stop Loss(SL): $0.6723 Please respect each other's ideas and express them politely if you agree or disagree. Australian Dollar/U.S.Dollar Analyze (AUDUSD), 4-hour time frame. Be sure to follow the updated ideas. Do not forget to put a Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
20
NZDUSD Hits Strong Resistances – Bearish Reversal Ahead?NZDUSD ( OANDA:NZDUSD ) is currently trading near the Resistance zone($0.6000-$0.5958) , Potential Reversal Zone(PRZ) , and Resistance lines . From a classical technical analysis perspective, NZDUSD seems to be completing the Ascending Broadening Wedge Pattern . From an Elliott wave theory perspective, NZDUSD seems to have completed the microwave C of the microwave Y of the main wave B . So we should wait for the next bearish waves . Also, we can see the Regular Divergence(RD-) between Consecutive Peaks . I expect NZDUSD to drop to at least $0.5890(First Target) . Second Target: $0.5865 Third Target: $0.5828 Stop Loss(SL): $0.5983 Note: Today's US data release could cause a shock to NZDUSD, but ultimately, NZDUSD will continue its downward trend (at least to the first target). Please respect each other's ideas and express them politely if you agree or disagree. New Zealand Dollar/ U.S. Dollar Analyze (NZDUSD), 1-hour time frame. Be sure to follow the updated ideas. Do not forget to put a Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
17
Fundamental & Technical Analysis: EUR Weakness vs Strong JPY!Today, I want to review the EURJPY ( OANDA:EURJPY ) short position from a fundamental and technical perspective and see if we can profit from this analysis. Fundamental Analysis: 1. Economic Weakness in the Eurozone Recent economic data indicate weakness in the Eurozone economy. For instance, retail sales in the Eurozone increased by only 2.2% in July, falling short of expectations. Additionally, inflation rates in the Eurozone are declining, suggesting weak demand in the economy. Mitrade 2. European Central Bank's Monetary Policies The European Central Bank is considering interest rate cuts to support the economy. Such policies could lead to a depreciation of the euro, presenting opportunities for short positions. 3. Economic Strength in Japan In contrast, Japan's economy is showing signs of improvement. Positive economic data, including increased industrial production and exports, indicate economic growth in Japan. This could lead to a strengthening of the Japanese yen and a decline in the EURJPY pair. 4. Bank of Japan's Monetary Policies The Bank of Japan continues its accommodative monetary policies, including negative interest rates and extensive asset purchase programs. These measures help mitigate downward pressure on the yen, supporting its strength. Conclusion Considering the economic weakness in the Eurozone and the economic strength in Japan, the EURJPY pair is likely to experience a downward trend in the short term. This fundamental analysis supports a short position on EUR/JPY. ---------------------------------------------------------------------- Now, let's examine the EURJPY chart on the 4-hour time frame with technical analysis tools . EURJPY is currently moving in the Resistance zone(173.420 JPY-172.660 JPY) and near the Monthly Resistance(1) . From the Elliott wave theory perspective , it seems that EURJPY has managed to complete the microwave C of the main wave y of the Double Three Correction(WXY) . I expect EURJPY to continue its downward trend in the coming hours and at least decline to the Support lines(First Target) . Second Target: 171.760 JPY Third Target: Lower lines of the Ascending Channel Stop Loss(SL): 173.640 JPY Please respect each other's ideas and express them politely if you agree or disagree. Euro/Japanese Yen Analysis (EURJPY), 4-hour Time Frame. Be sure to follow the updated ideas. Do not forget to put a Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
18
XAUUSD At Critical PRZ: Will Gold Reverse or Break to New Highs?Hello Traders And Investors XAUUSD At Critical PRZ: Will Gold Reverse or Break to New Highs? 🔥” The recent price action on Gold (XAUUSD) has reached a very critical level near $3,586 – $3,600, which aligns with a strong resistance zone. This area is marked as a Potential Reversal Zone (PRZ), where sellers may step back into the market. 🔍 Market Structure Breakdown: Previous Liquidity Sweep Price collected liquidity below the July lows before forming a Higher Low at the start of August. This move gave the market strength to push higher, creating a clean bullish structure. Strong Impulsive Rally From mid-August onwards, gold showed a strong bullish impulse, breaking through minor resistance levels without much pullback. However, such parabolic moves often lack sustainability, making them vulnerable to a healthy correction. Resistance & PRZ Reaction The current resistance zone has historically acted as a strong rejection level. Price tapping into this zone suggests exhaustion in bullish momentum, increasing the probability of a short-term pullback. 🎯 Target Zones for Downside Move: 1st Target: $3,480 – $3,500 This area coincides with a previous demand block and will act as the first reaction point. Final Target: $3,330 – $3,320 (Key Support) If bearish momentum sustains, price could revisit this major support, completing the correction phase before potentially resuming the broader uptrend.
OANDA:XAUUSDShort
by Mentor_Michael03
1