ProTradeSignals

ProTradeSignals

Resistance Breakdown: The gold market has shown signs of weakness, failing to breach the critical resistance level at $2040.10, suggesting a potential reversal in the upward trend. Technical Indicators: Key indicators such as the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) signal overbought conditions, supporting the...

ProTradeSignals

USD/JPY pair is showing a mixed sentiment with a focus on key support and resistance levels that could dictate its short-term direction - SELL.

ProTradeSignals

AUDCHF may be approaching a resistance level, with potential for a short opportunity as the pair seems locally overbought and could expect a price decline upon reaching a horizontal resistance​.

ProTradeSignals Updated 

Natural gas futures are declining due to warm weather forecasts indicating less demand for heating, leading to an oversupply. Prices fell as forecasts did not support a cold weather demand spike, with the March Nymex contract price dropping. Analysts suggest the market is trying to discourage production because of the low demand. The expectation for colder weather...

ProTradeSignals Updated 

GOLD exhibited a notable approach towards multiple crucial indicators, including the support level, channel border, and dynamic support, signifying a convergence of significant factors. This confluence suggests a potentially pivotal moment in the market's movement. Previous instances have seen the price testing this support level and subsequently experiencing a...

ProTradeSignals

The upcoming week in the USA is expected to be colder due to shifts in atmospheric patterns, which can bring colder air from the polar regions. This change follows a warmer period, driven by variations in the jet stream and atmospheric pressure systems. The colder weather will likely lead to an increase in natural gas consumption as households and businesses turn...

ProTradeSignals

During the early European session on Thursday, the price of gold (XAU/USD) relinquished its limited intraday recovery and slid toward the lower boundary of its daily trading range, hovering around the $1,820 level. Although the precious metal experienced a slight uptick following a minor dip in the US Dollar (USD) earlier in the day, it failed to sustain upward...

ProTradeSignals

Amidst the recent turbulence in the gold market, astute traders are on the lookout for signs of a potential trend reversal that could present a lucrative long trading opportunity. Gold, after hitting a 7-month low, may be poised for a turnaround. Here's a strategy to consider if you believe that a bullish reversal is on the horizon. Support Levels: Identify...

ProTradeSignals

Anticipating a bullish reversal in the gold market, consider a long trading opportunity with an entry point at $1825.97. Set your take profit (TP) level at $1876.32 to capitalize on potential gains, while managing risk with a stop loss (SL) at $1813.29. This strategy aims to benefit from an expected upswing in gold prices.

ProTradeSignals

I observe a potential false decline in Light Crude Oil (CL). It may be prudent to consider entering a long position around the $90 area, anticipating a reversal. A possible exit strategy to lock in profits could be implemented in the vicinity of the $100 area." Make sure to conduct your own research and adapt your strategy to the current market conditions and...

ProTradeSignals

Bearish EMA setup: The 50-period EMA is below the 100-period and 200-period EMAs, signaling a potential downtrend. Trade Plan: Entry: Consider entering a short position if CAD/JPY falls below the 50-period EMA at 110.272. Stop-Loss: Place a stop-loss above the 100-period EMA (110.162) or recent swing high. Take Profit: Target a support area near 109.800 for...

ProTradeSignals Updated 

Our recommendation is to take a long position on gold, as the current trend is highly bullish and approaching the previous high of around 2065. However, it's important to consider the past data and predict the market behavior before making a trade. The resistance line at the price level of 2000 to 2010 is quite strong and may cause a break of the bullish channel,...

ProTradeSignals

Based on the analysis and forecast of natural gas , the trend line has experienced an upward break. As a result, there is an anticipation of a continuation of the bullish trend , which may lead to the price reaching the 3.000 level. As per the forecasters, the massive spring storm from the western US is likely to generate severe weather conditions across a...

ProTradeSignals Updated 

GOLD trade idea BUY! Name Value Action Relative Strength Index (14) 34.30 Neutral Stochastic %K (14, 3, 3) 6.31 Neutral Commodity Channel Index (20) −102.27 Buy Average Directional Index (14) 33.67 Neutral Awesome Oscillator −53.95 Neutral Momentum (10)

ProTradeSignals

GBPJPY has been gaining ground, but recently experienced a pullback after reaching its rejection region of 166.00. Momentum indicators suggest bullish forces are still in control, and a clear close above the 200-day SMA could revive hopes for further upside moves, including a possible second bullish breakout from consolidation.

ProTradeSignals

Based on the analysis of an upward moving channel in GBP/JPY, and the expectation that it will touch the support line at 163 and then move up to 166, a potential long position recommendation could be considered. If the price action of GBP/JPY confirms the upward channel, traders and investors may look for a buying opportunity at or near the 163 support level,...

ProTradeSignals

the actual GDP growth rate QoQ in Australia is lower than the forecasted rate, the AUDUSD exchange rate could potentially be bearish. This is because the lower-than-expected growth rate may lead to a decrease in investor confidence in the Australian economy and its currency, causing traders and investors to sell AUD and move towards other currencies, including the...

ProTradeSignals

With the looming threat of a military clash between Israel and Iran, the global oil market could be on the verge of a major disruption, leading to an unprecedented spike in fuel prices. As the tension between the two nations continues to escalate, experts warn that an attack by Israel on Iran's nuclear facilities could have dire consequences, pushing the price of...