Fundamental Analysis
The Japanese Yen is doing great lately, thanks to a mix of factors. This makes the USD/JPY pair go down for the third day in a row. The official Chinese PMI numbers for May were not so good, which makes people worry about the global economy and look for safer options. The JPY is one of them, especially because the Japanese authorities might...
Hey Traders, in today's trading session we are monitoring NZDUSD for a selling opportunity around 0.60300 zone, NZDUSD is trading in a downtrend and currently seems to be in a correction phase in which it is approaching the major trend at 0.60300 support and resistance zone.
Trade safe, Joe.
Hey Traders! 👋
For Day 21/100 of our challenge, we will look at USDJPY upside potential this week.
Technicals:
- Currently on pivot area (expecting support to form)
- But price is still creating LLs-LHs
- Better to go long above 139.600
- Target previous high 140.800
Fundamentals:
- Market to price in higher probability of rate hikes as positive data continues...
Yesterday we saw a new low in the EURUSD as the daily candle once again remained tailed.
There are still no buying grounds on H1 and we expect a breakout of previous highs for confirmation.
Before then, we may see another decline and another pushback.
NFP data is due tomorrow, where we expect more volatility and possibly entry grounds.
Here is my view for USDJPY on H1. The price could go bearish, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
– Previous Daily candle closed Bullish at 1962.800 respecting Daily Support formed on Tuesday this week.
– Buys on close above 1967.000 targeting 30min Resistance at 1973.000, Leaving Runners to the 4h Resistance at 1979.800.
– Sells on close below 1960.600 targeting 4h Support at 1954.900, Leaving Runners to the 1h previous Resistance formed on 29th May 2023 at...
EURUSD fulfilled our bearish trend projection and is now near the bottom of the annual Channel Up.
That is a long term buy opportunity regardless other indicators. A cross above the MA50 (4h) validates the trend change to bullish.
Trading Plan:
1. Buy on the next Falling Support Low.
Targets:
1. 1.07400 (Fibonacci 0.618) and 1.0850 (Fibonacci 0.5) inside...
NZDUSD - 24h expiry
Previous support located at 0.6000.
Previous resistance located at 0.6025.
There is no clear indication that the downward move is coming to an end.
A higher correction is expected.
Risk/Reward would be poor to call a sell from current levels.
We look to Sell at 0.6045 (stop at 0.6070)
Our profit targets will be 0.5985 and 0.5970...
USD keeps moving higher, possibly on speculation that House vote on U.S. debt ceiling today will pass today. However, stocks are down, which can have something to do with China, where the PMI index declined once again, and also faster than expected. Technically speaking, USD is in uptrend, but yields found some resistance recently so I am wondering if USD is...
Hey Traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.35800 zone, USDCAD is trading in an uptrend and currently seems to be in a correction phase in which it is approaching the major trend at 1.35800 support and resistance zone.
Trade safe, Joe.
SILVER - Where to next?
An important few weeks ahead: FOMC minutes Wednesday, PMI's and on Nov 30th - Fed Chair Jay Powell is set to speak on the economic outlook and the U.S. labor market at Brookings.
With all of this we are at key support areas of DXY - I see a lot of individuals very bullish precious metals, I am too. Although, keep in mind trade what you...
We are still short on Gold for just a little bit longer. However, we can see that Gold is struggling with its bearish momentum. Wouldn't surprise me to see a liquidity grab to the upside. But overall, we are still BEARISH.
On 14th June, we have the Federal Reserve announcing the next interest rate decision. They are expected to hike rates again by 25BPS which is...
Hey Traders, in today's trading session we are monitoring GBPUSD for a selling opportunity around 1.24450 zone, GBPUSD is trading in a downtrend and currently seems to be in a correction phase in which it is approaching the major trend at 1.24450 support and resistance zone.
Trade safe, Joe.
Hey Traders, in today's trading session we are monitoring USDJPY for a buying opportunity around 139.300 zone, USDJPY is trading in an uptrend and currently seems to be in a correction phase in which it is approaching the major trend at 139.300 support and resistance zone.
Trade safe, Joe.
Hey Traders. in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.65 zone, in above chart we have a breakout of AUDUSD bear flag pattern, currently we are waiting for a correction to see a potential retrace of the flag towards more lows.
Trade safe, Joe.
