FaithdrivenTrades

FaithdrivenTrades

Step into the Forex ballroom, dancers! 🕺💃 Today, we're putting on our dancing shoes to match the rhythm of the GBP/JPY pair, as it swings and sways through the market like a seasoned Cha-Cha champion. Step One-Two: The Technical Twist Our chart is like a dance floor, and each candlestick is a step. Watch the GBP/JPY as it takes two steps forward, one step back,...

FaithdrivenTrades

🐂 Bulls took the lead in the latest market dance-off, but 🐻 bears might be prepping for a counter-swing! 💃🕺 Current Trend: "After a bullish 💪 breakout, the USD/JPY pair could be saying 'Sayōnara' to lows and 'Konnichiwa' to new heights! 🚀 Indicators & Patterns: "Our trusty Stochastic Momentum Index is waving a red flag 🚩, hinting that the party might be...

FaithdrivenTrades

Main Analysis: Trend Identification: "Following a period of consolidation, USD/CHF has broken above a critical resistance level, suggesting a strong uptrend initiation." Technical Indicators: "The Stochastic Momentum Index has exited the oversold territory, supporting the bullish momentum. Furthermore, the pair has surpassed the MA50 and MA200, reinforcing the...

FaithdrivenTrades Updated 

Because all messages are short on this one i go lon

FaithdrivenTrades

🌐 We are here to share insights, pinpointing the critical junctures for market entry and exit with the goal of enlightening, not just profiting. 🔗 Key Technical / Direction (Long) Type: Short to Mid Term Swing —————————— ☑️ Bullish Reversal 0.65700 Area Reasons ⚡️- Historical Support Zone ⚡️- Oversold on Stochastic Momentum Index ⚡️- Price Action Suggesting...

FaithdrivenTrades

🌐 In the spirit of collaboration, we aim to demystify the critical points of market entry and exit, fostering a shared understanding over mere financial gain. 🔗 Key Technical / Direction (Short) Type: Short Term Swing —————————— ☑️ Bullish Reversal $33,946 Area Reasons ⚡️- Reaching Major Support Zone ⚡️- Oversold on Stochastic Momentum Index ⚡️- Convergence on...

FaithdrivenTrades

🌐 We're dedicated to spreading knowledge to underscore the crucial entry and exit points, fostering a deeper understanding rather than merely chasing profits. 🔗 Key Technical / Direction (Long) Type: Short Term Swing —————————— ☑️ Bullish Reversal 0.87250 Area Reasons ⚡️- Bouncing off the Support Zone ⚡️- Oversold Territory on Stochastic Index ⚡️- Confluence...

FaithdrivenTrades

☑️ Technical Aspects: The price action is consolidating within a key support zone, which may act as a launchpad for bullish momentum. Stochastic readings are indicating an oversold condition, hinting at a potential upward reversal. The moving average convergence could signal a bullish shift if the shorter-term moving average crosses above the longer-term...

FaithdrivenTrades

☑️ Technical Aspects: A clear support zone is highlighted, offering a potential springboard for price action to ascend. The stochastic oscillator suggests an oversold condition, signaling a potential reversal to the upside. Moving averages may provide dynamic support, with the possibility of a bullish crossover if the short-term average climbs over the long-term...

FaithdrivenTrades

Delving into USD/CAD dynamics with a blend of technical foresight and fundamental awareness. 🔗 Key Technical / Direction: Short to Mid-Term Bullish Type: Short-Term Positioning ☑️ Technical Aspects: The price is hovering above a significant support zone, potentially establishing a base for an upward move. Stochastic indicators suggest a temporary oversold...

FaithdrivenTrades Updated 

🎯 Buy Limit: Placing at the robust support zone marked by the convergence of the MA200 and previous consolidation area. 💹 Rationale: The Stochastic indicates an oversold condition, hinting at a potential bounce. The price action nestles above a critical support line, making the current dip a tempting buy opportunity for a swift recovery. 🚦 Outlook: Aiming for a...

FaithdrivenTrades

🌐 Spreading knowledge and clarifying key points of entry and exit with a foundation of understanding. We prioritize insight over income. 🔗 Key Technical / Direction: Short Type: Short-Term Scalp ☑️ Bearish Retest 1980.00 Area Reasons: ⚡️ - Overbought RSI signal on 15min Chart ⚡️ - Resistance at previous high ⚡️ - Fibonacci retracement level from recent...

FaithdrivenTrades Updated 

USDJPY - is touching 200ma, and on previous it did bounce off going uptrend I believe that once agian it will do the same.

FaithdrivenTrades Updated 

🌐 Spreading knowledge among us and clarifying key points of entry, exit, and informed decision making. Our aim is to foster understanding, not just to make money. 🔗 Key Technical / Direction: Short Type: Short-Term Scalp ☑️ Bearish Retest 0.7500 Area Reasons: ⚡️ - Major Resistance Level ⚡️ - Overbought RSI Signal ⚡️ - EMA Crossover (Bearish) ⚡️ - Fibonacci...

FaithdrivenTrades Updated 

📊 Current Landscape: GBP/USD has seen a whirlwind of activity, recently soaring then slipping back as UK inflation data came into the spotlight. The UK CPI cooled more than expected to 4.6% YoY, leading to speculation that the Bank of England may pause its rate hi​​ce. This fundamental change has provided a bearish tilt to the pair as it fell away from the 1.25...

FaithdrivenTrades Updated 

🌏 Fundamental Forces at Play: 📈 Positive Traction: The AUD has gained momentum above the 0.6500 mark, influenced by a risk-on market mood. Upcoming data such as Australia’s Wage Price Index, expected to rise by 1.3% QoQ, will be pivotal in shaping the currency's direc​​rce. 🌐 Global Economic Docket: A slew of international economic data, including China activity...

FaithdrivenTrades Updated 

🚀 Latest Rally: Gold prices have seen a notable surge, with XAU/USD edging higher, influenced by the softening U.S. dollar and a decline in bond yields. This movement aligns with new data pointing to a slowdown in U.S. inflation, which has been a tailwind for gold's asce​​e. 📉 Short-Term Caution: Despite the bullish trend, Bernard Dahdah, a precious metals...

FaithdrivenTrades Updated 

🔍 Fundamental Outlook: 🏦 Fed’s Hawkish Stance: The Federal Reserve's commitment to curb inflation through tighter monetary policy continues to shadow the gold market. Jerome Powell's firm stance suggests a challenging environment for gold as dovish hopes dimi​​rce. 🌎 Global Economic Sentiment: Moody's negative outlook on U.S. debt has provided a temporary...