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Currencypairs

EUR/USD Chart and Future Price target analysis 1. Highest open interest (OI) for Call option with high volume indicates higher probability of price. 2. Movement in that direction in the near future. 3. CME Vol & OI data as of 12.15.2024, 5 PM. 4. 10,600 strike price has the highest Put option OI. 5. Both high Put and Call OI at the 10,600 strike price with high volume. 6. 10,600 considered a strong price level. 7. Option expiry for January 2025. Total of 3 Resistance along ( OB, OP, FIB and Bottom Strong 3rd Deviation )
Long
by rcsaints
USDCAD and CADJPY Analysis Ahead of BoC Interest Rate DecisionWith the Bank of Canada (BoC) interest rate decision approaching, we analyse USDCAD and CADJPY using the Daily and H1 timeframes to uncover potential trading opportunities. Market Outlook: CADJPY: The overall market structure appears bearish following a completed wave pattern and a corrective wave. We anticipate further downside movement, signalling potential short-selling opportunities. USDCAD: The pair remains strongly bullish, with expectations for the current uptrend to continue. However, a potential wave-structure pullback on the Daily chart could provide a favourable buying opportunity. Stay blessed and happy trading!
by Charts247TradingAcademy
Midweek Portfolio Selection: Weekly & Daily CSI AnalysisJoin me for the Midweek Portfolio Selection, where we analyse the Weekly and Daily Currency Strength Index (CSI) to identify shifts in the currency landscape. This process helps refine our trading bias to stay aligned with market dynamics. In this episode, we’ve observed notable changes, particularly in the AUD and USD. Key Highlights: Buy Pairs: AUD, CAD, JPY, CHF, USD Sell Pairs: EUR, GBP, NZD Combining these buy and sell pairs increases the probability of capturing strong directional movements in the forex market. If you find this video helpful, please give it a thumbs up and share your thoughts in the comments. Wishing you a successful trading week! Happy Trading!
by Charts247TradingAcademy
USDCAD: Thoughts and Analysis Today's focus: USDCAD Pattern – consolidation pattern break (continuation) Support – 1.3650 Resistance – 1.3780, 1.3830 Hi, traders. Thanks for tuning in for today's update. Today, we are looking at USDCAD on its daily chart. Today, we are wondering if the USDCAD is setting off on a new move higher after holding support. Price continues to test at the descending triangle pattern, which could be seen as a consolidation in the uptrend and as a continuation pattern. We have listed a few things to watch out for and the next levels of resistance. What do you think? Is this a new leg higher? Good trading.
Long
by Eightcap
Mastering the Art of Identifying Support and Resistance Levels📈 Mastering the Art of Identifying Support and Resistance Levels in Forex Trading 📈💰 ✅In the world of forex trading, support and resistance levels play a crucial role in understanding market dynamics and making informed decisions. These key levels indicate areas where the price of a currency pair is likely to encounter obstacles, either in its upward or downward movements. Being able to identify these levels accurately is a key skill that every forex trader should possess. In this article, we will delve into the intricacies of identifying support and resistance levels in forex and provide examples to enhance your understanding. Here are 2 supports that I spotted on Gold on a daily time frame. ✅ Identifying Support and Resistance Levels: Support and resistance levels in forex can be identified through various methods, including: 1. Price Action Analysis: Analyzing historical price movements to identify areas where the price has repeatedly reversed or stalled. 2. Trend Lines: Drawing trend lines to connect swing highs and swing lows to identify potential support and resistance levels. 3. Moving Averages: Using moving averages to identify dynamic support and resistance levels based on the average price over a specific period. And here is a perfect example of a key resistance on EURUSD on a daily. ✅ Examples: Example 1: Price Bounce Off Support Level In the chart of a currency pair, if the price consistently reverses or bounces off a particular price level, it indicates a strong support level. Traders can observe how the price reacts to this level and consider it in their trading decisions. Example 2: Resistance Turned Support Sometimes, a resistance level that was previously difficult for the price to break through becomes a new support level after it is breached. Identifying such levels can provide traders with valuable insights into potential reversal or continuation patterns. These are the intraday structures on GBPUSD on a 4H. Mastering the art of identifying support and resistance levels in forex trading can significantly enhance a trader’s ability to make informed decisions and improve overall trading performance. By incorporating these key levels into your analysis and decision-making processes, you can gain a deeper understanding of market movements and potential trading opportunities. Happy trading! 📊🔍
OANDA:XAUUSDEducation
by AnabelSignals
1
EURUSD|The probability of breaking the support zoneHello friends, I hope you are doing well, let's go to the popular currency pair EURUSD. In EURUSD, the selling pressure seems to be more, we can understand this from the powerful candles, broken trends. For this reason, short positions have a higher winning percentage. By reaching the supply area (1.1015), we can enter a sell position with confirmation until the price (1.90). In the future, if it can break the demand area, we expect the price of 1.080 to continue falling
Short
by Golden_Star1994
1
Navigating Waves: USDJPY Analysis - Seizing the Double BottomRapid Downslide Following FED News : Downslide suggests that there may have been a negative reaction in the USDJPY pair due to news related to the Federal Reserve (FED). Events and statements from central banks, especially the FED, can significantly impact currency pairs. Formation of Double Bottom Pattern around 141.500 Range : A double bottom pattern is a bullish reversal pattern that forms after a downtrend. If there is a slowdown and a potential double bottom pattern around the 141.500 range, it could indicate a potential reversal in the downward trend. Expectation of Short Impulse Towards 143.787 : The analysis suggests an anticipated short-term upward movement toward the 143.787 level. Traders may view this as a potential scalp opportunity, indicating a short-term trading strategy. Continuation of Bearish Momentum: Despite the short-term upward movement, there is an expectation of the continuation of bearish momentum. This indicates that the overall trend remains bearish, and the upward movement may be considered a temporary retracement rather than a trend reversal. It's important to note that trading in the foreign exchange market involves inherent risks, and market conditions can change rapidly. Additionally, the success of any forecast depends on various factors, including economic indicators, geopolitical events, and market sentiment. For the most accurate and up-to-date information, traders should refer to live market data, technical analysis tools, and financial news sources. Additionally, considering the dynamic nature of the forex market, it's recommended to use risk management strategies and consult with financial experts before making trading decisions.
Long
by wikitrades
2
How To Read Currency PairsHere's a quick and comprehensive guide on how you can read currency pairs as a forex trader! As usual my objective is to simplify all aspects of trading, so that even someone who has never seen a chart before, can make sense of the topic at hand. Let's get into it - Currency pairs are a combination of 2 different currencies and we can trade them based on how they are compared to each other in terms of price (weighted against each other). How can we use this to make money? 1. Understand the Exchange Rate Let's assume that the current exchange rate for EURUSD is 1.10, that means of €1 is valued at $1.10. 2. Buy Euros If you start with $1000 and you believe the exchange rate may increase in the future, it would be a good idea to convert your Dollars into Euros at the current rate. $1000 / 1.10 (exchange rate) = €909.09 3. Wait for Appreciation Now, let's assume the exchange rate increases to 1.15. This means that €1 is now worth $1.15. 4. Exchange Back to Dollars With your 909.09 Euros, you can convert them back into Dollars at the new exchange rate. €909.09 x 1.15 (new exchange rate) = $1045.45 So, in this example, you've potentially made a profit of $45.45 by anticipating and benefiting from a favorable change in the exchange rate. Major Currency pairs CAPITALCOM:EURUSD CAPITALCOM:GBPUSD FX:USDJPY OANDA:USDCHF OANDA:AUDUSD OANDA:NZDUSD FX:USDCAD Minor Currency Pairs FX:EURGBP OANDA:EURAUD FOREXCOM:GBPJPY OANDA:AUDJPY OANDA:NZDJPY FX:EURJPY OANDA:GBPAUD FX:AUDNZD OANDA:EURCAD FX:GBPCAD That's a mouthful to take in so I'll leave you there. Hope this post helps and as usual... Happy Hunting Predators 🦁🐯🦈
Education
by Apexfx_Alpha
A Volatile Bearish Trend: AI-Assisted 4-Hour Analysis of EUR-USDDear Esteemed TradingView Members, I n the world of financial trading, precision and insight are invaluable assets. In today's dynamic market environment, it's imperative to embrace the right tools that provide clarity amid the ever-shifting tides of economic forces. I n this piece, I delve into the intricate currency trading, focusing on the EUR-USD market. To capture the essence of this dynamic market, I've chosen to examine it through the lens of 4-hour candles. The rationale behind this choice is rooted in the recent uptick in EUR volatility. While lower timeframes may drown you in noise, the 4-hour candles offer an equilibrium, making it easier to discern patterns and identify emerging trends. W hy 4-hour candles, you ask? Well, because they're versatile. Whether you're a swing trader, day trader, or even planning longer-term positions, these candles are a reliable tool in your arsenal. They filter out the commotion and provide a steady view of the market's ebbs and flows. I looked at recent developments, and I saw a bearish trend that persisted until November 1, 2023. However, it's essential to note that the trend didn't seamlessly transition to a bullish one; instead, it appears to be exploring potential support levels. What's intriguing is the gradual deceleration of the decline, as evidenced by the volume indicator. V olume plays a pivotal role in assessing market health, and traders frequently employ indicators like On-Balance-Volume (OBV) to confirm their analyses. Our chart showcases a possible demand zone, spanning from $1.044 to $1.052, accentuated by a prominent blue rectangle. This range is more than just a potential support zone; it's an indicator of market sentiment and a battleground of supply and demand. O BV, the blue indicator at the bottom of the chart, corroborates the significance of this zone. It started a noticeable ascent on October 3, 2023, coinciding with the EUR price's descent into this area. This rise indicates a considerable demand that might be a precursor to multiple bullish surges, emerging from this very platform. Yet, each of these attempted upswings met the resolute barrier of the ascending resistance line, denoted by the striking purple trendline, nudging the price back toward the aforementioned demand zone. T his oscillation serves to intensify the latent buying potential within the zone. However, it also reveals that the demand isn't robust enough yet to trigger a full-scale shift from a bearish to a bullish trend. The latest encounter with the resistance line on November 6, 2023, adds another layer to the analysis. A t this juncture, our Random Forests machine-learning technique enters the fray. It paints a picture of a potential retreat in price towards the historical support zone. Remarkably, OBV barely budged in response to this rejection, suggesting that there's a substantial interest sandwiched between the resistance and support levels. This interest might lead to the execution of limit orders, propelling the EUR price downwards to the demand zone. T o further enrich our analysis, the Gradient Boosting Machines (GBMs) algorithm highlights a crucial point. It indicates that the EUR price has begun to veer away from Exponential Moving Average (EMA) graphs in a manner that typically hints at weakness in the local bullish trend. This divergence could signify a probable return to the overarching bearish trend or, at the very least, a period of consolidation—a characteristic often observed on-demand platforms. I n the ever-evolving landscape of financial markets, precision is the compass and insight of the North Star. As the EUR-USD market continues to unveil its secrets, your mission is to decode them with sophistication, warmth, and genuine expertise. S tay tuned for more insights, and remember, in the world of trading, adaptability is the key to success. It is not a financial advice. You are responsible for your funds. Take care of retaining volume more than fast gains. Do your research. The idea proposes only possibilities, and the market might act in a different way. Historic results don't guarantee future results. AI isn't omniscient. Warm Regards, Ely
Short
by Elysian_Mind
USDDKK: Peak formed. Excellent sell opportunity.USDDKK is forming a Channel Down pattern after getting rejected on the HH trendline of the top of the long term Megaphone. This was enough to turn the 1D timeframe neutral (RSI = 51.567, MACD = 0.023, ADX = 24.458). This High is consistent with the two peak formations prior to that and the common characteristic is that all (including the current) have formed LH trendlines on their 1D RSI. The 1D MA50 is the first line of support, but we target much lower (TP = 6.8000) as the decline range on those two bearish legs has been -4.90% to 5.60%. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
USDHKD: Rejection on the 1D MA50 and LH trendline. Sell.USDHKD is on a neutral 1D technical outlook (RSI = 47.421, MACD = -0.002, ADX = 19.830) as it is approaching the end of a Descending Triangle pattern. Yesterday it got a double rejection on the 1D MA50 and the LH trendline. A harmonic Descending Triangle broke down to the S1 level after after its third contact with the LH trendline. Consequently we trrat this as a sell opportunity (TP = 7.7940). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
DXY with a brief consolidation. What is next?We witnessed DXY tap the weekly Volume Gap it had towards the downside. and immediately spring up with an internal market structure shift. is it enough? Price is consolidating here in this area and tho it might seem that further downside is in play we must tread carefully since there are looming wars and conflicts around the world. what does this mean for DXY? The US Dollar being the current International currency in times of turmoil, most flock towards its perceived safety. Do not be surprised if out of nowhere Dollar springs up. Just keep a close eye since this will affect currency pairs and equities alike.
CAPITALCOM:DXY
by JP_Tru
GBPUSD: Buy opportunity on extremely oversold levels.GBPUSD hit the bottom of the prolonged Channel Down pattern, reaching extreme oversold technical levels on the 1D timeframe (RSI = 21.119, MACD = -0.012, ADX = 59.945). The 4H MACD is approaching the formation of a Bullish Cross, and prior price action shows that when formed this low, it always rebounds and hits at least the 1D MA50. We are on an early long trade, targeting the course of the 4H MA50 (TP = 1.2275), even though a Channel Down top extension can even reach as high as 1.2425. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
9
NZDJPY: Bottom forming, buy confirmed above the 1D MA50.NZDJPY is trading inside a Channel Down with the price rising after a bottom check in the past 20 days. The 1D technical outlook is neutral (RSI = 53.482, MACD = -0.002, ADX = 31.647) meaning that if this is a bullish reversal inside the Channel, there is still time to enter. The trigger signal will be a cross over the 1D MA50, that will be our entry and our exit an RSI reading of 65.00 and over. We estimate the target to be roughly under the 0.618 Fibonacci level so until the RSI hits 65.00 we will set the target accordingly near the top of the Channel Down (TP = 0.61850). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
AUDUSD: Next pump will be a sell entry.AUDUSD is trading inside a Channel Down pattern since the start of the year with the price consolidating at the moment on its bottom. Naturally, the 1D technical outlook is bearish (RSI = 41.632, MACD = -0.003, ADX = 25.040), under both the 1D MA50 and 1D MA200. The LL was made marginally over Fibonacci 2.0 extension, so there is a strong symmetry with the prior bearish wave. If it continues, we should be expecting a new rejection a little over the 1D MA50 to a new LL. Our sell target will be on S1 (TP = 0.62730). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
8
USDCHF: The top isn't in most likely. 1D MA200 ahead.USDCHF has been rising non-stp since the July 18th bottom on 0.85555 (S1). The 1D outlook is on straight bullish technicals (RSI = 61.656, MACD = 0.005, ADX = 40.729) and as the 1D MA50 has been turned into Support, we expect the rally to peak within the 1D MA200 and the inside LH trendline. That would be as close to the top of the twelve month Channel Down as possible. We will wait until a LH trendline is formed on the 1D RSI, which preceded every sharp selling and was the ideal short signal. Target S1 (TP = 0.85555). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
2
EURUSD: Oversold RSI at the bottom of the Channel Down.EURUSD reached the bottom of the six week Channel Down, completed a -2.70% decline such as the previous one and turned the 1H RSI extremly oversold (RSI = 17.487, MACD = -0.002, ADX = 31.778). This is a low risk chance to take a short term buy to the top of the Channel Down. Our target is, as with the previous rebound, the 0.618 Fibonacci level (TP = 1.08250). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
2
GBPUSD: Channel Up broken downwards. Bearish mode right now. GBPUSD crossed under its four month Channel Up pattern, as well as closing under the 1D MA50, thus turning the 1D timeframe bearish (RSI = 43.717, MACD = -0.001, ADX = 34.501). Currently this is a sell signal, targeting the 1D MA100 (TP = 1.2625). Every Support (S) broken, will be a sell signal for the next one. We are buying only if the price crosses over the 0.618 Fibonacci level or the 1D MACD completes a Bullish Cross. In both events, our target will be the 1.382 Fibonacci extension (TP = 1.3335). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
7
USDJPY: Rebound on the 1D MA50. Buy signal.USDJPY is on the third straight green 1D candle after a rebound on the 1D MA50 that has turned the 1D time-frame into healthy bullish levels (RSI = 60.603, MACD = 0.480, ADX = 30.898). This is technically a bullish continuation signal, with the 1D MACD after a Bullish Cross, resembling the bullish sequence of April. We are long, targeting the R3 level (TP = 146.800). If the price crosses under S1, we will short and target the S2 level (TP = 133.515). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
1