Gold crash the bear & continue the bull read the caption (XAU/USD) is already up half a percent to trade in the $2,730s on Monday during the European session after rising over 1.0% on Friday. The precious metal is gaining on a mixture of increased safe-haven demand due to the intensifying conflict in the Middle East and moves by the People’s Bank of China (PBoC) to further ease credit conditions by cutting interest rates.
Forexsignals
Xauusd sell Gold price scales higher for the fifth straight day – also marking the seventh day of a positive move in the previous eight – and touches a fresh record high, around the $2,732-2,733 region on the first day of a new week.
From a technical perspective, last week's sustained strength and close above the $2,700 mark could be seen as a fresh trigger for bullish traders. That said, the Relative Strength Index (RSI) on the daily chart has moved beyond the 70 mark, flashing slightly overbought conditions. This, in turn, makes it prudent to wait for some near-term consolidation or a modest pullback before positioning for an extension of the recent well-established uptrend.
Gold now sell 2733
Support 2723
Support 2718
EURUSD expected to rebound on an oversold 1D RSI.The EURUSD pair made a straight hit on our 1.08350 Target (September 23 idea, see chart below) following the 1.12000 Double Top rejection:
Right now the price sits below the 1D MA200 (orange trend-line), having failed to recover it in the past 2 days. This is however the 0.618 Fibonacci retracement level from the last Low, which is where the February 14 2024 correction reversed.
At the same time, the 1D RSI turned oversold last Thursday, which is an even bigger bullish indication. For the past 2 years (since September 27 2022), every time the RSI got oversold (below 30.00), it was a very strong buy signal as the price reversed.
On the February 14 Low it reversed to the 0.618 Fib (blue), so currently our minimum target on this buy opportunity is 1.10550.
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GBPCAD Sell signal at the top of the Channel Up.The GBPCAD pair has been trading within a Channel Up for more than 1 year (since September 28 2023) and since September 30 2024 has been on Lower Highs. The last time we saw such a trend-line as on the April 16 2024 Lower High, after which a strong short-term rejection took place.
We expect a similar selling sequence to take place that should be contained however above the 1D MA200 (orange trend-line). Our Target is 1.77000 (Support 1).
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USD/THB Bullish Pennant Breakout in Daily Time FrameIn the daily time frame, USD/THB has formed a bullish pennant pattern, and we are currently seeing a breakout. If we measure the target from the bottom of the pattern, it aligns with the pink resistance zone. This area could be a good place to consider reducing positions or potentially entering a short, depending on how the price reacts at this key level.
Gold prices increased about 2.4% during the weekGold costs surpassed $2,seven-hundred an oz for the primary time as worries approximately escalating warfare withinside the Middle East and a traumatic US election race precipitated traders to hurry to safety.
Bullion rose as a lot as 1% to $2,720.17 an oz, surpassing an all-time excessive set withinside the preceding session. The bullish sentiment unfold to the wider treasured metals complex, with silver growing as a lot as 5.5% to its maximum considering 2012. BlackRock Inc.`s iShares Silver Trust, the most important exchange-traded product monitoring The metal, has visible a massive growth in name alternatives as traders guess on better costs.
The marketplace specializes in an increasing number of traumatic geopolitical traits after Israel introduced it had killed Hamas chief Yahya Sinwar, the person in the back of the Palestinian group's assault on southern Israel, inflicting a extended war. 12 months lengthy in Gaza.
💎 XAUUSD Buy limit 2715 - 2713💎
✔️TP1: 2731
✔️TP2: 2651
✔️TP3: OPEN
🚫SL: 2705
➖➖➖➖➖➖➖➖
💎XAUUSD Sell limit 2751 - 2749💎
✔️TP1: 2730
✔️TP2: 2620
✔️TP3: OPEN
🚫SL: 2758
NZD/JPY Triangle Pattern in Daily Time Frame: Breakout and Long On the daily time frame, I’m monitoring a triangle pattern on NZD/JPY. Once a confirmed breakout occurs, I plan to enter a long position. My first target will be the pink resistance zone. This key level could provide the next significant resistance point, and I’m waiting for price confirmation before taking action.
Hellena | GOLD (4H): Long to 2712 (Where is the end of wave 3? )Friends, I am wary of giving any long-term forecasts, because an interesting situation has developed at the moment.
I believe that the big wave “3” is coming to an end. But it is difficult to say exactly where. Now the price continues its upward movement and I will trade in small intervals.
At the moment I think that the price will rise a little more to the area of 2712. After that I will expect a correction and then we will think where and how we will see wave “5”.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Hellena | BITCOIN (4H): Long to 61.8% - 100% lvl 67,912.Dear colleagues, after last week's good forecast, I realized that the upward movement is not over yet.
The price is probably moving in wave “3” of higher order and wave “3” of lower order.
Therefore, I believe that the price will correct a bit and continue the upward movement to the 67.912 area. These are the levels of 61.8% - 100% Fibonacci extension.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Xauusd Technical Analysis | October 21, 2024Gold fees hold the bullish motion and print new document highs that's expected. The fee will hold the bullish motion and investors will await a bearish correction. Whenever the fee begins offevolved a bearish correction, investors should wait close to the guide degree to feature greater lengthy positions. As lengthy because the fee maintains printing new better highs and better lows, the fashion will hold bullish.
Today’s critical levels to watch:
Support: $2,685, $2,600
Resistance: $2,750, $2,800, $2,841
💎 XAUUSD Buy limit 2714 - 2712💎
✔️TP1: 2730
✔️TP2: 2650
✔️TP3: OPEN
🚫SL: 2705
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💎XAUUSD Sell limit 2750 - 2748💎
✔️TP1: 2730
✔️TP2: 2620
✔️TP3: OPEN
🚫SL: 2758
USD/JPY Bearish Pennant Breakout: Short Opportunity at ResistancWe’ve seen a strong breakout from the bearish pennant on USD/JPY. My idea is that when the price pulls back to the pink resistance zone, sellers could return to push the price lower. This would present a potential shorting opportunity from this zone, as the bears may step back in and reject the price at this level. Keep an eye on this zone for a possible short setup.
EURUSD Analysis Week 43🌐Fundamental Analysis
The European Central Bank (ECB) cut its key interest rate by 25 basis points (bps) as expected after its October policy meeting. In its policy statement, the ECB noted that it will continue to pursue a data-dependent and meeting-by-meeting approach to determine the appropriate level and duration of policy accommodation.
In her post-meeting press conference, ECB President Christine Lagarde acknowledged that economic activity in the Eurozone has been weaker than expected. On the inflation outlook, Lagarde said low confidence, geopolitical tensions and low investment pose downside risks to inflation. Lagarde's dovish tone kept the euro under pressure in the second half of Thursday.
The economic calendar will not feature any high-impact data on Friday. Meanwhile, US stock index futures traded in positive territory during the European session.
🕯Technical Analysis
EURUSD has recovered at the end of the week after consecutive bearish pullbacks. The downtrend is still showing no signs of stopping as the bullish waves are still relatively weak. At least the pair must recover and close above the 1.095 area to be considered a broken downtrend. Watch the resistance zone when the price recovers around 1.095 and 1.103 for SELL signals. The extended pullback of the pair may extend to 1.072 before the bulls can jump in to prevent the pair from continuing to slide.
📈📉Trading Signals
BUY EURUSD 1.07200-1.07000 Stoploss 1.06800
SELL EURUSD 1.09500-1.09700 Stoploss 1.09900
US30 Market Analysis (Sell Bias):US30 Market Analysis (Sell Bias):
We are selling US30 due to key technical indicators pointing towards a potential downside move. The price is currently at strong resistance levels, where past price action has shown difficulty in breaking higher. In addition, the trend lines indicate a downward trajectory, and pivot points are aligning with this resistance, reinforcing the sell signal.
The stochastic oscillator is also showing overbought conditions, suggesting the index is overextended and due for a pullback. With these factors in play, a sell position aligns well with the current technical setup.
Could the Cable rise from here?The price has reacted off the resistance level which is a pullback resistance and could potentially rise from this level to our take profit.
Entry: 1.3033
Why we like it:
There is a pullback resistance level.
Stop loss: 1.2981
Why we like it:
There is a pullback support level.
Take profit: 1.3146
Why we like it:
There is an overlap resistance level that aligns with the 38.2% Fibonacci retracement.
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Heading into 61.8% Fibonacci resistance?EUR/CAD is rising towards the resistance level which is a pullback resistance that is slightly above the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 1.50030
Why we like it:
There is a pullback resistance that is slightly above the 61.8% Fibonacci retracement.
Stop loss: 1.50776
Why we like it:
There is a pullback resistance level.
Take profit: 1.49549
Why we like it:
There is a pullback support level.
Enjoying your TradingView experience? Review us!
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.
Overlap resistance ahead?The Aussie (AUD/USD) is rising towards the pivot which has been identified as an overlap resistance and could reverse to the 1st support level.
Pivot: 0.6744
1st Support: 0.6674
1st Resistance: 0.6792
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
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.
Bearish reversal?The Fiber (EUR/USD) is rising towards the pivot point which is a pullback resistance and could reverse to the 1st support level which acts as an overlap support.
Pivot: 1.0896
1st Support: 1.0834
1st Resistance: 1.0955
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
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.
Could the Cable rise from here?The price is reacting off the pivot and could rise to the 61.8% Fibonacci resistance which acts as a pullback resistance.
Pivot: 1.3034
1st Support: 1.2977
1st Resistance: 1.3103
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
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.
Silver Shines Brighter: A Bullish Run to $39.62 After Rate Cut?Hey Realistic Traders, let’s dive into the analysis of OANDA:XAGUSD
On the daily timeframe, silver has consistently traded above the EMA100, signaling a strong bullish trend. Additionally, it has broken through the upper trendline of a wide descending broadening wedge pattern . This breakout, confirmed by a bullish Marubozu candlestick, indicates strong buyer momentum. The MACD’s bullish crossover further supports the expectation of continued upward movement.
With these technical indicators in alignment, we anticipate silver advancing toward Target Area 1 at 36.76 and potentially reaching Target Area 2 at 39.62. However, the support level at 27.59 remains critical; a break below this level could invite bearish pressure.
In the broader macroeconomic landscape, central banks across multiple countries are enacting rate cuts to stimulate growth amid slowing economic conditions. Combined with declining manufacturing PMIs, geopolitical tensions, and the US-China economic slowdown, these factors heighten uncertainty. As a result, safe-haven assets like silver and gold are expected to benefit, as investors seek protection against market volatility. This influx of demand may provide further upward momentum for silver prices.
Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Silver.
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GBP/USD: Potential Short Opportunity at ResistanceOn the 4-hour time frame, GBP/USD has recently experienced a strong breakout through a key support level, which has now turned into resistance. I expect that when the price returns to this resistance zone, sellers could re-enter the market, causing a potential rejection. This could present an ideal shorting opportunity if the price gets rejected at the resistance level. Keep a close eye on this area for a possible short setup.
US30 (H1)The Dow Jones index was able to close the week with great positivity.
Therefore, we are looking forward to buying from levels 42905 in case we get confirmation of price action from this level with a stop loss of an hourly candle below 42736 with a first target at levels 43308, 43500 and 43688.
Second scenario: If the Dow Jones index corrects deeply without price action signals that support the rise, we look forward to buying the second, which is the strongest, at levels 42594 and stopping at levels 42368 and holding below it for an hourly candle.
With targets at levels 43174, 43306 and 43500