EURNZD - Monster 900pip Move Coming!EURNZD is currently in an ABC correction. We've completed wave B and now we're in wave C. The completion of wave B can be used as a strict invalidation level for our short play.
We can use a channel to gauge the target for wave C, which happens to be the -27 fibonacci extension of wave A.
Trade Idea:
- Watch for a correction to appear
- Enter on break of correction with stops either above correction or above invalidation
- Targets: 1.745 (600pips), 1.71 (900pips)
If this setup gets enough traction, we'll make sure to send updates and let you guys know when its active!
Goodluck and as always, trade safe!
EUR
Heading into pullback resistance?Price is rising towards a resistance level which is a pullback resistance and could potentially reverse from this level to our take profit.
Entry: 0.98393
Why we like it:
There is a pullback resistance level.
Stop loss: 0.98723
Why we like it:
There is a resistance at the 127.2% Fibonacci extension.
Take profit: 0.97762
Why we like it:
There is a pullback support which lines up with the 50% Fibonacci retracement.
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EURUSD - A Top-down Analysis (BEARISH BIAS)I'm going to start from the yearly timeframe and work my way down to the monthly, weekly, and lastly the daily timeframe.
Here on the yearly timeframe we have price coming into a yearly SIBI a couple of times before displacing down into a yearly Sibi. After which, we have a close above equilibrium, and the subsequent year came up into a yearly Breaker (Body) before what looks now like a move lower to take out at the very least the previous year's low.
12-MONTH
On the 6-month timeframe we see a nested Sibi support my bearish bias/narrative. At this point I do not see any discount PD Arrays, but I will be mindful of consequent encroachment of large wick of the swing low's candle.
6-MONTH
On a closer review of the 1-month timeframe, we see a monthly BISI seemingly about to close below it. If that is the case, I would like to see a return into that to be treated as an iFVG. My current draw on liquidity is the relative equal lows (Body).
1-MONTH
On the weekly timeframe we have an even clearer picture. The recent displacement is more prominent, and we can see that a weekly SIBI was created into the monthly potential iFVG (BPR). High up at my second POI is a weekly Bearish Orderblock that may still be a viable possibility for price to reach towards. Inside of that is a daily Unicorn model, which can be seen on the current daily chart. Much of my narrative is based on red folder news coinciding with how I am anticipating the weekly candles to close, mostly anticipating it closing below the SIBIs/iFVGs. The closer price gets to one of the major red folder news events such as CPI/PPI/FOMC, the more extreme of a displacement I am expecting. It is also key that I see some sort of manipulation to take place to shake out the retail crowd.
1-WEEK
So, let's see what unfolds in the coming weeks.
Trade safe!
- R2F
EURUSD: two scenarios
Daily Chart Analysis:
A long-term bearish channel is evident.
Additionally, a mid-term bullish channel is clearly visible.
1-Hour Chart Analysis:
A short-term bullish channel has formed.
Trading Strategy:
Await a breakout above the zone to consider long positions.
Alternatively, short trades could be initiated after a break below the weekly pivot at 1.07605 and the short-term bullish channel.
EURGBP Excellent short-term sell signalThe EURGBP pair easily hit our 0.5 Fibonacci Target following the symmetrical Double Bottom rebound, as mentioned on our last call (March 20, see chart below):
We now switch to the lower 4H time-frame as a strong sell signal emerged. The 4H RSI got rejected inside its 1-month Sell Zone and the pair that is trading within a Bullish Megaphone already reached (and is so far holding) its 4H MA50 (blue trend-line).
The last similar Bearish Leg reached at least the 0.618 Fibonacci retracement level before rebounding. As a result we have now a rough sell Target at 0.85635 (Fibonacci 0.618) but we will close earlier if the RSI hits the Buy Zone before the price hits the Target.
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Could price bounce off 618% Fibonacci support?Price has just bounced off the a support level which is an overlap support that aligns with the 61.8% Fibonacci retracement and could potentially rise to our take profit.
Entry: 0.8582
Stop loss: 0.8559
Take profit: 0.8618
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Potential bearish drop?The Fiber (EUR/USD) has just reacted off the pivot and could potentially drop to the 1st support.
Pivot: 1.0798
1st Support: 1.0727
1st Resistance: 1.0852
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Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EURNZD to break to the upside?EURNZD - 24h expiry
Daily signals are mildly bullish.
Dips continue to attract buyers.
1.7966 has been pivotal. A break of the recent high at 1.7966 should result in a further move higher. We are trading at overbought extremes.
We look to Buy a break of 1.7971 (stop at 1.7931)
Our profit targets will be 1.8071 and 1.8091
Resistance: 1.7947 / 1.7966 / 1.8000
Support: 1.7925 / 1.7880 / 1.7842
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
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EURNZD Breakout and Potential retraceHey Traders, in today's trading session we are monitoring EURNZD for a selling opportunity around 1.79900 zone, EURNZD was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 1.79900 support and resistance area.
Trade safe, Joe.
EURGBP is approaching the uptrendHey Traders, in today's trading session we are monitoring EURGBP for a buying opportunity around 0.85900 zone, EURGBP is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.85900 support and resistance area.
Trade safe, Joe.
EURO - Price can rise a little and then bounce down to $1.0725Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊
A not long time ago price declined to resistance area, and then bounced up, after which made downward impulse.
Price declined lower $1.0790 and $1.0650 levels, thereby breaking them, after which it started to rise in channel.
Soon, price broke $1.0650 level, which coincided with support level, made retest, and continued to move up.
But soon, price turned around and corrected to support level, after which bounced up to resistance level.
Euro tried to break this level, but failed and declined a little, after which in a short time backed up and finally broke it.
Now, I think Euro can reach resistance line of channel and then bounce down to $1.0725, breaking support level.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
EURUSD 1st 4H GoldenCross since February! Breakout or rejection?The EURUSD pair completed on Friday its first Golden Cross on the 4H time-frame since February 29. Technically that is a bullish pattern but we are only willing to treat it as a buy opportunity if the pair closes a 4H candle above the Lower Highs trend-line).
If it does, we will most likely have a bullish break-out like March 06 towards the 0.618 Fibonacci retracement level or the top of the Channel Down. This is at least what the symmetrical Bullish Leg of the Channel Down did following the Feb 29 4H Golden Cross and topped on March 08. In that case our Target will be 1.08350 (Fib 0.618).
Until that 4H candle closing, we will be selling the Lower Highs rejection, targeting 1.06550 (just above Support 1), which is what happened on March 22. Notice that the 4H RSI pattern is more similar currently to March 13.
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EURHUF Sell the bounce.The EURHUF pair gave us a strong sell signal last time we made a call on it (October 13 2023, see chart below) as it made the bearish break-out below the Triangle and breached through Support 2:
The price is now approaching the 1D MA200 (orange trend-line), which has been supporting since January 17. The short-term pattern is a Channel Down, a Bearish Leg similar to October - November 2023.
As a result, we are waiting for a potential bounce and sell on the next 1D MA50 (blue trend-line) contact. Our Target will be the bottom (Higher Lows trend-line) of the Triangle at 384.000.
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R2F Weekly Analysis - 13th May 2024 (ICT Concepts)Welcome to another R2F Weekly Market Analysis using ICT Concepts along with my own discoveries. Without any prior preparations on the chart, I'm going to go through various pairs, and giving a real-time view of how I perform my analysis on the weekends before the new week. I'll give my take on what has been happening, and what i'm expecting in either the coming days, weeks, or months. Without further ado, let's get into it!
If you are lazy to watch the video, which is your loss, the TLDR is that I am still bullish Dollar and waiting for the manipulation and reversal back to the upside, potentially this week with CPI/PPI/FOMC red folder news occurring. All my analysis of other pairs revolve around this.
I did not go to the sub 4H timeframe in this video, but how I do my analysis on the higher timeframes is the same as how I would look for entries on the lower timeframes. The only difference is that I would consider the ICT Killzones and weekday tendencies along my usual techniques.
Hit me up if you want to learn more or are struggling to find your footing and need help.
- R2F
Potential bearish drop?Price has reacted off the resistance level which is a pullback resistance and could potentially drop from this level to out take profit.
Entry: 1.07879
Why we like it:
There is a pullback resistance level.
Stop loss: 1.08123
Why we like it:
There is a pullback resistance level.
Take profit: 1.07289
Why we like it:
There is an overlap support level which aligns with the61.8% Fibonacci projection.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
EURUSD 12/5/24Starting off this week with euro to the USD I'm looking at a similar scenario from last week where we had a bullish range which held up and followed through into the last session of last week so starting this week I'm expecting the bullishness to continue and for this range to hold. We have a bullish internal range which I am looking for price to run lower. before going bullish or break lower bringing us into the sub 50% of our higher timeframe range, ultimately bringing us higher into the daily order block on euro to then push lower back into the overall trend the price is in.
As it stands I believe price will push lower to start the week and then we will see during the red folder news if we are going to break out of this internal range or if we are going to continue to play bullish within this either way we'll be tracking price action for longs within this range or shorts if we break out and go lower.
Trade safe and read price action!
EURUSD 13-17 May 2024 W20 - Weekly Analysis - EU & US CPI Week!This is my Weekly analysis on EURUSD for 13-17 May 2024 W20 based on Smart Money Concept (SMC) which includes the following:
Market Sentiment
Weekly Chart Analysis
Daily Chart Analysis
4H Chart Analysis
Economic Events for the Week
Market Sentiment
The narrative surrounding the monetary policy divergence between the Fed and the rest of its G10 peers continues to dominate the macro scenario in the market. On this, the FedWatch Tool tracked by CME Group sees the probability of a Fed’s rate reduction in September nearly 70%.
With the inflation reports expected this week (CPI), If inflation stays high but doesn't speed up much more, the Federal Reserve might keep interest rates higher for a longer time. This is because the market is worried about inflation staying high, and if there's a surprise where inflation doesn't increase as much as feared, the reaction will likely be smaller. Powell, said they would only raise rates if they had convincing proof that their current policies are too tight.
Right now, the market expects interest rates to be cut twice by the end of the year. However, if we see another report showing high inflation, those expectations might change. A weaker report might lead to just one rate cut being expected instead of two, but not much more than that. The Federal Reserve might wait until their meeting in September at the earliest to make any major decisions, unless there's a sudden worsening in the job market.
Weekly Chart Analysis
1.
Swing Bearish
Internal Bearish
Reached Swing EQ
Swing Continuation Phase (Pro Swing + Pro Internal)
2.
After the Bearish iBOS we confirmed that the Swing Pullback is over and we will target the Weak INT Low and the Weak Swing Low.
3.
Price had reached the Bearish INT Structure extreme and initiated the Bearish Internal Structure Continuation.
Expectation is to continue bearish and target he Weak INT Low.
4.
Price tapped into a Weekly demand zone that is currently providing Pullback for the continuation down to the Weak INT Low.
Daily Chart Analysis
1.
Swing Bearish
INT Bearish
Swing Continuation Phase (Pro Swing + Pro Internal)
2.
Internal Structure continuing bearish following the Bearish Swing.
3.
After the Bearish iBOS we expect a Pullback.
Price in a clear corrective move to the upside after tapping the Weekly Demand Zone which initiated the Bearish iBOS Pullback Phase.
As expected last week with the probability of a deep pullback, price reached the Daily Supply. With that deep Pullback, there is a HP that we can continue the Bearish INT Structure with expectation to target the Weak INT Low and possibly the Weak Swing Low.
More development required on LTF to show signs of Bearish Structure to validate the expectations.
4.
Daily and Weekly demand zones for reactions to fulfill the INT Pullback Phase.
4H Chart Analysis
1.
Swing Bearish
Internal Bullish
Reached Swing EQ
INT Structure Pullback Phase
2.
Swing continuing bearish following the HTF Bearish Trend. Expectations is set for the Swing to stay bearish to fulfill the HTF targets.
3.
With the 4H INT is Bullish, it's for me not much aligning with the Daily TF which makes the view unclear from a trend prospective.
Are we going to hold Bullish Internal to maybe have a more deeper PB on Daily, or we are going to turn bearish on the 4H Internal to continue the Daily Swing/INT Structure trend.
With the current week inflationary reports coming out from EU and US, most probably we will have more price development that can facilitate a HP setups.
Economic Events for the Week
SELL EUR/USDEURUSD is in a downtrend channel on the daily and weekly timeframe.
Double top pattern was broken and retested at its neckline which also is a strong resistance supply zone at area 1.10.
The next target is a possible retest of the upper down channel at area 1.09 before a drop to the next supply support zone at area 0.85 which will be confirmed after break and closure below of area 1.05.
EUR USD signal EUR/USD is the forex ticker that tells traders how many US Dollars are needed to buy a Euro. The Euro-Dollar pair is popular with traders because its constituents represent the two largest and most influential economies in the world. Follow real-time EUR/USD rates and improve your technical analysis with the interactive chart. Discover the factors that can influence the EUR/USD forecast and stay up to date with the latest EUR/USD news and analysis articles. Confirm signal
BOJ Intervention Again⁉️Hello TradingView Family / Fellow Traders,
EUJPY is currently approaching a massive supply zone marked in red.
For the bears to take over again and start the next bearish impulse movement, a break below the last major low in gray is needed.
Meanwhile, EURJPY would be bullish short-term and can still trade higher.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr