AUDUSD made today the first strong green (1d) candle in a long time as it touched and rebounded at the bottom of the Channel Down.
This is the new bullish leg that should aim to fill the new Lower High.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 0.67000 (3.70% rise from the bottom as the previous bullish leg).
Tips:
1. The RSI (1d) crossed...
EURUSD is having a highly aggressive bullish break out as not only did it cross over the 3 week Channel Down pattern but also the 4H MA50 which has been unbroken since May 8th. The 4H technicals are healthy bullish (RSI = 58.132, MACD = -0.001, ADX = 39.347) and if the current 4H candle closes over the R1, we will extend our buying and target the R2 and 1D MA100...
Position for dollar weakness. While some top Fed officials have recently sounded more hawkish and data has been relatively strong, we believe the Fed is still closer to pausing rate hikes than other central banks, including the European Central Bank, which looks set to continue tightening. We expect the US dollar to weaken further this year as the US interest...
The recent drop in inflation rates in Germany, France, and Spain have triggered speculation about a softer eurozone flash CPI figure, suggests Chris Turner, Global Head of Markets and Regional Head of Research for UK & CEE at ING Bank.
This comes as the market consensus expects the headline to fall to 6.3% year-on-year from 7.0%, with the core slipping to 5.5%...
Hey Traders,
Check this late XAUUSD trade out.
Looking pretty promising at the lower band of the ascending channel. making a divergence along the way.
Wait for the break and retest of the trendline and then anticipate for a nice entry.
Watch out.
In my opinion I can see BTC going one of two ways:
---> We continue to rally having bounced off our Rally - base - rally support zone. With further support by the green rectangle pushing towards the next Supply zone.
---> OR... We lose the rectangle diagonal support, drops down towards the lower side of the rally, base, rally demand zone. Then confirm this key...
Hey traders, In today's trading session we are monitoring USDCHF for a buying opportunity around 0.90500 zone, USDCHF is trading in an uptrend and currently seems to be in a correction phase in which it is approaching the major trend at 0.90500 support and resistance zone.
Trade safe, Joe.
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...
