AUDNZD Is Going Down! Short!
Please, check our technical outlook for AUDNZD.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 1.099.
The above observations make me that the market will inevitably achieve 1.096 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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M-forex
GOLD Will Grow! Buy!
Here is our detailed technical review for GOLD.
Time Frame: 3h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 3,348.90.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 3,370.56 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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USDCHF Will Go Higher From Support! Long!
Take a look at our analysis for USDCHF.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 0.806.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 0.811 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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EURGBP Will Go Up From Support! Buy!
Please, check our technical outlook for EURGBP.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 0.862.
The above observations make me that the market will inevitably achieve 0.872 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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GBPAUD Will Go Lower! Sell!
Here is our detailed technical review for GBPAUD.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 2.079.
Taking into consideration the structure & trend analysis, I believe that the market will reach 2.059 level soon.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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Gold price forecast difficult to break outThis week, analysts said that gold prices will still find it difficult to break out in the short term when the market lacks momentum to increase points. Factors that have supported gold prices to increase strongly in recent times, such as US tariff policies and geopolitical tensions in some regions, are all easing.
Mr. Daniel Pavilonis, senior commodities broker at RJO Futures, commented that although inflation data has edged up and interest rates have increased slightly, gold prices are still moving sideways within a narrow range. This development shows that gold is becoming less attractive in the eyes of investors and could fall below $3,000/ounce this year.
"If the US starts cutting interest rates and inflation rises higher, that could be a positive signal for gold. However, gold prices have been moving sideways for the past 4 months and the momentum for price increases in the short term is not high."
EURNZD Bearish Shark Follow-UpFrom my previous post regarding potential Bearish Shark forming on the EURNZD (see Related Publications ->) a shooting star pattern might be forming right around the 1.97500 level. I usually don't trade candlestick patterns, but will look for a handful of certain ones around areas of fib confluence, S/R, S/D, and divergence. The Kiwi is weak relative to all other currencies, but I think the Euro is exhausted. Nevertheless, I would not be surprised if bulls make another exhausted push up towards 1.98500.
Currently short at 1.9755
GBP/USD Continues Bullish Momentum ? Hello everyone, it's great to see you again.
Today, FX:GBPUSD has shown strong growth above the 1.3550 level and remains on an upward trend in positive territory. The recent weakening of the US Dollar (USD) after the latest data has allowed this pair to continue gaining momentum.
From a technical perspective, GBP/USD has broken the descending trendline and could potentially form a head-and-shoulders pattern. Before the pattern completes, a minor correction is expected. The subsequent bullish move will likely target the 1.374 level.
Let’s wait and see what happens. If you agree with this outlook, don’t forget to leave a like on the post.
Good luck!
Market Analysis: EUR/GBP Attempts to Find SupportMarket Analysis: EUR/GBP Attempts to Find Support
EUR/GBP declined and is now consolidating losses above 0.8600.
Important Takeaways for EUR/GBP Analysis Today
- The British Pound is attempting a fresh increase above 1.3500.
- There is a key bullish trend line forming with support near 1.3550 on the hourly chart of GBP/USD.
EUR/GBP Technical Analysis
On the hourly chart of EUR/GBP, the pair started a steady decline from well above 0.8700. The Euro traded below 0.8650 against the British Pound.
The EUR/GBP chart shows that the pair even declined below 0.8620 and the 50-hour simple moving average. A low was formed at 0.8596 and the pair is now consolidating losses. There was a move above 0.8620 and the 23.6% Fib retracement level of the downward move from the 0.8743 swing high to the 0.8596 low.
The pair is now facing resistance near a connecting bearish trend line at 0.8635. The next major barrier for the bulls could be the 50% Fib retracement at 0.8670.
A close above 0.8670 might accelerate gains. In the stated case, the bulls may perhaps aim for a test of 0.8685. Any more gains might send the pair toward the 0.8740 pivot.
Immediate support sits near 0.8620. The first key zone sits at 0.8595. A downside break below 0.8595 might call for more downsides. In the stated case, the pair could drop toward 0.8550.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Market Analysis: GBP/USD Pushes HigherMarket Analysis: GBP/USD Pushes Higher
GBP/USD is showing strength above 1.3450 and 1.3500.
Important Takeaways for GBP/USD Analysis Today
- The British Pound is attempting a fresh increase above 1.3500.
- There is a key bullish trend line forming with support near 1.3550 on the hourly chart of GBP/USD.
GBP/USD Technical Analysis
On the hourly chart of GBP/USD, the pair remained well-bid above 1.3400. The British Pound started a decent increase above 1.3475 against the US Dollar.
The bulls were able to push the pair above the 50-hour simple moving average and 1.3500. The pair even climbed above 1.3550 and traded as high as 1.3594. Recently, there was a pullback below 1.3575 and the 23.6% Fib retracement level of the upward move from the 1.3399 swing low to the 1.3594 high.
However, the bulls were active near the 1.3520 support. The pair is again rising above 1.3540. There is also a key bullish trend line forming with support near 1.3550.
On the upside, the GBP/USD chart indicates that the pair is facing resistance near 1.3575. The next hurdle for the bulls could be 1.3595. A close above 1.3595 could open the doors for a move toward 1.3640.
Any more gains might send GBP/USD toward 1.3720. On the downside, the bulls might remain active near the same trend line at 1.3550. If there is a downside break below 1.3550, the pair could accelerate lower.
The first major support is at 1.3520, below which the pair could test the 50% Fib retracement at 1.3495. The next key area for the bulls could be 1.3475, below which the pair could test 1.3445. Any more losses could lead it toward 1.3400.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Gold can make correction and then continue to move upHello traders, I want share with you my opinion about Gold. The price market is currently in a state of equilibrium, consolidating within a large symmetrical triangle after a significant upward rebound from the recent lows near the 3310 buyer zone. This reversal invalidated the prior downward trend and has since forced the price into a period of balance, characterized by contracting volatility between a descending resistance line and an ascending support line. The price has been methodically rotating within this structure, with the seller zone around the 3390 resistance level consistently rejecting bullish attempts. At present, the asset is undergoing another downward correction, approaching the critical ascending support line of the triangle for a key test. The primary working hypothesis is a long scenario, based on the expectation that buyers will once again defend this dynamic support and maintain the integrity of the consolidation pattern. A confirmed and strong bounce from this support line would signal the start of another major upward rotation within the triangle. Therefore, the tp for this long idea is strategically placed at the 3390 level. Please share this idea with your friends and click Boost 🚀
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NZDUSD H4 | Bearish reversal off 61.8% Fibonacci resistanceThe Kiwi (NZD/USD) is rising towards the sell entry, which acts as a pullback resistance that lines up with the 61.8% Fibonacci retracement and could drop from this level to the downside.
Sell entry is at 0.5962, which is a pullback resistance that lines up with hte 61.8% Fibonacci retracement.
Stop loss is at 0.6000, which is a pullback resistance.
Take profit is at 0.5886, whichis a swing low support that is sluightly above the 138.2% Fibonacci extension.
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$EURUSD 15m MarkUpAug 18
Analysis Notes:
We’ve tapped into a demand zone and also swept the Asian low on the 15-minute timeframe.
At the moment, I expect a move toward the Asian high, where you can look for entry confirmation on the 1-minute timeframe.
The 15-minute swing high is our final target.
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GBPCHF: Strong Bearish Pattern 🇬🇧🇨🇭
GBPCHF may retrace more from the underlined blue daily resistance.
A breakout of a neckline of a head and shoulders pattern that
occurred on Friday provides a strong bearish confirmation.
Closest support - 1.09
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Gold Price ForecastThe weekly gold survey by an international financial information platform shows mixed views among experts and investors. Of the 10 analysts who responded, only 10% said that gold prices would rise again, 10% said that gold prices would fall, but up to 80% predicted that gold prices would remain stable. The lack of a clear trend in gold prices shows the unpredictability of precious metals.
Meanwhile, investors were more optimistic. Of the 183 investors who responded to the survey, 63% said that gold prices would rise again, 18% said that gold prices would fall, and 19% expected gold prices to remain stable.
Mr. Adrian Day - Chairman of Adrian Day Asset Management said that gold prices will continue to fluctuate within a narrow range with a steady upward trend. The US Federal Reserve's (FED) expected interest rate cut in September has been reflected in the market, so gold prices need more monetary easing to break out more strongly.
Could the price bounce from here?The Swissie (USD/CHF) is reacting to the pivot and could bounce to the 1st resistance.
Pivot: 0.8040
1st Support: 0.7879
1st Resistance: 0.8171
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bullish continuation for the Bitcoin?The price is falling towards the pivot which acts as an overlap support and could bounce to the 127.2% Fibonacci resistance.
Pivot: 111,783.38
1st Support: 98,421.14
1st Resistance: 126,406.21
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bullish bounce off 61.8% Fibonacci support?USD/JPY is falling towards the pivot that aligns with the 61.8% Fibonacci retracement and could bounce to the 1st resistance, which acts as a multi-swing high resistance.
Pivot: 145.96
1st Support: 142.37
1st Resistance: 150.98
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish reversal off pullback resistance?The Cable (GBP/USD) is rising towards the pivot, which has been identified as a pullback resistance and could reverse to the 1st support.
Pivot: 1.3613
1st Support: 1.3366
1st Resistance: 1.3789
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish reversal off Fibonacci confluence?The Fiber (EUR/USD) is rising towards the pivot and could reverse to the 1st support.
Pivot: 1.1850
1st Support: 1.1578
1st Resistance: 1.2127
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish drop?US Dollar Index (DXY) is reacting off the pivot, which acts as an overlap resistance and could drop to the 1st support.
Pivot: 98.27
1st Support: 94.66
1st Support: 94.66Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EURGBP: Up Move From Support Confirmed 🇪🇺🇬🇧
Odds are high that EURGBP will continue rising
after a test of a major daily support cluster.
The price violated a resistance line of an expanding wedge pattern
on an hourly time frame, indicating a strong intraday bullish sentiment.
Goal - 0.865
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