Forextrader
NZDUSD: Important Breakout 🇳🇿🇺🇸
Today's fundamentals are very bullish for NZDUSD.
The price is currently forming a high momentum bullish candle on a daily,
violating a key horizontal resistance.
It opens a potential for a further bullish continuation next week.
Goal - 0.6058
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EURUSD: Potential Retracement 🇪🇺🇺🇸
EURUSD may retrace from a wide intraday horizontal resistance cluster.
I already see some sings of weakness of sellers: double top formation on an hourly time frame
and multiple rejections.
I think that the pair may reach 1.0705 level today.
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Gbpusd bullish more & more expected Higher read the caption Range trading continues in GBP/USD and intraday bias remains neutral. On the upside, above 1.2568 will resume the rebound from 1.2298 to 55 D EMA (now at 1.2578). Sustained break there will argue that fall from 1.2892 has completed already, and bring further rise to this resistance. Nevertheless, on the downside, break of 1.2448 minor support will indicate that rebound from 1.2298 has completed
Audusd buy range buy spike shoot coming read the caption In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which is still in progress. Overall, sideway trading could continue in range of 0.6179 /7155 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor
eurusd buying levels here is good opportunity read the caption The EURUSD has moved back to a new session low and in the process is testing the 200-hour MA at 1.0687. That MA stalled the fall on Friday (at a lower level). Moving below the 200 hour MA is now needed to increase the bearish bias, and have traders targeting the trend line and the low of a swing area down to 1.06529.
If the buyers stall the fall here (and trader could buy here given the low risk), getting back above the 100-hour MA at 1.0711 would be eyed as a level to get to and through
GOLD BUY RANGE 2450 & 2500 READ (THE CAPTION)Gold fell by 2.2% last week amid cooling Middle East tensions and fading expectations for early U.S. interest rate cuts this year. Investors are now only confident about a single cut this year, most likely in November, according to the CME’s FedWatch tool.
“Gold bulls bought into last week’s weakness, protecting an elevated long established at much lower levels,” said Ole Hansen, head of commodity strategy at Saxo Bank.
Before last week’s fall, five previous weeks of growth saw gold hitting a record high of $2,431.29 on April 12, due to strong purchases by central banks and demand from Chinese retail investors
Usdjpy dipping here show range read the caption The USD/JPY pair witnessed a dramatic intraday turnaround and tumbled over 570 pips from levels beyond the 160.00 mark, or the highest since October 1986 touched earlier this Monday. Although an official announcement has been made so far, the possibility of an intervention by Japanese authorities to support the domestic currency was cited as a key factor behind the sharp downfall. In fact, Japan’s top currency diplomat Masato Kanda refrained from making any comments
GBPUSD confirm buy CROSS GBPJPY read the caption GBP/USD rebounded after edging lower to 1.2298 last week. But upside is capped by 1.2538 support turned resistance. Initial bias remains neutral this week first. On the downside, break of 1.2421 will argue that rebound from 1.2298 has completed and bring retest of this low. However, decisive break of 1.2538 will bring stronger rally to 55 D EMA (now at 1.2581) and above
AUD/CAD Long and AUD/NZD ShortAUD/CAD Long
Minimum entry requirements:
• If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it.
AUD/NZD Short
Minimum entry requirements:
• 1H impulse down.
• If 2 touch 15 min continuation, 5 min risk entry within it.
USDJPY Selling point longest selling trendline read the caption Japan FinMin Suzuki: Will Deal With Forex Appropriately But Declines To Say Whether Forex Moves Are Excessive
USDJPY breaks higher as inflation came at 1.7% down from 2.5% expectations, and 2.6% prev reading. Thats very interesting reading. Who would think of this data considering how expensive
Nzdusd head to go resistance with high accuracy read the captionThe NZD/USD declined towards 0.5871 on Tuesday reflecting a loss of 0.46%, despite. The pair's movements are largely influenced by the market’s adjustments of their expectations and the delay of a rate cut by the Federal Reserve (Fed) by year-end. Rising Treasury yields are also applying downward pressure on the pair.
On the data front, in March, Building Permits experienced a decline of 4.3%, dropping to 1.457 million, below both projected and February's figures. Housing starts also saw a significant drop of 14.7%, falling short of expectations at 1.321 million. However, industrial production for the same month rose by 0.4%, meeting expectations
Eurusd confirm buy position ready read the caption Echoing this sentiment, the ECB's Cipollone observed a rapid decline in inflation, expressing expectations for a return to the 2% path next year and attainment of the target by mid-2025. Should data in June and July confirm growing confidence in achieving the target, consideration would be given to easing some of the restrictive measures imposed in 2023. Additionally, the impact of the Middle East conflict on energy costs remains a significant risk factor.
Around the Fed, at an event hosted at The Wilson Center in Washington on Tuesday, Chair Powell stated that recent data have not instilled increased confidence in them
Usdchf selling range and drop level read the caption In the bigger picture, price actions from 0.8332 medium term bottom as tentatively seen as developing into a corrective pattern to the down trend from 1.0146 (2022 high). Further rise would be seen as long as 0.8727 support holds. But upside should be limited by 0.9241 resistance, at least on first attempt. However, decisive break of 0.9242 will argue that the trend has already reversed and turn medium term outlook bullish
BTC head to higher level because of halving read the caption Bitcoin halving is here, an event expected to raise the curtain on the next market cycle. There has been a lot of turbulence in the market of late. Events such as flows from exchange-traded funds (ETFs) and tensions in the Middle East between Iran and Israel have sent traders into their shells. However, there could be some relief in the market after Iranian officials indicated there are no plans to retaliate against an Israeli strike on Friday
EURUSD TOWARDS TO RESISTANCE CONFIRM ANALYSIS READ THE CAPTION
In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Current fall from 1.1138 is seen as the third leg. While deeper decline is would be seen to 1.0447 and possibly below, Strong support should emerge from 61.8% retracement of 0.9534 to 1.1274 at 1.0199 to complete th
Gold dipped and it wiy continue to hit bottom read the caption XAU/USD trades near $2,371 and the daily chart shows that the slide may continue. Technical indicators retreat from extreme overbought levels, suggesting the decline may continue. Still, a steeper slide remains out of the picture, as XAU/USD refuses to give up developing its moving averages above all Simple Moving Average (SMA) maintains its firmly bullish slope at around $2,280 and roughly $300 above an also bullish 100 SMA
GBPJPY & GBPUSD BOTH ARE IN RACE WILL REACH BUY TARGETThe GBP/JPY pushed into fresh multi-year highs on Thursday as the pair grinds towards the 195.00 handle. The Japanese Yen (JPY) continues to weaken across the broader FX market, prompting increasing rhetoric from the Bank of Japan (BoJ) regarding direct intervention in currency markets to shore up the beleaguered JPY. The BoJ is expected to discuss intervention on the Yen’s behalf at their latest policy meeting
Audusd down will meet support read the caption Regarding the Greenback, sellers appeared back in the market after US Q1 GDP figures came in short of expectations and quarterly inflation prints ticked higher, reigniting speculation that the Federal Reserve (Fed) might keep its restrictive stance for longer.
Meanwhile, the daily advance in the Australian dollar was accompanied by further improvement in the risk complex as well as by the positive performance
SasanSeifi 💁♂ EUR/USD (4-Hour Timeframe)Based on the 4-hour short-term chart of the FX:EURUSD currency pair, the price has been trending upwards from the 1.060 support zone. The price is currently trading above the EMA 60 and moving towards a supply zone.
🔹The current outlook is positive, with a potential for further upside movement towards the target zone of 1.077/1.080.
⏭An alternative scenario involves the price pulling back from the supply zone after a minor correction and then resuming its upward trajectory toward the target zones within the liquidity gap area.
Key Support and Resistance Levels:
Support: 1.070/1.068
Resistance: 1.077/1.080
🚨It is important to note that today is a significant news day, which could lead to increased volatility in the market.
This is not financial advice. Always do your research before making any investment decisions.
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GOLD done the buy now only bearish read the caption Gold has been hitting all-time highs almost daily for the past two weeks, reaching $2364 in the spot market on Tuesday before the start of US trading. The ability to rise above $2071 per ounce, which gold found in late February, has signalled a break of resistance that has kept gold above since August 2021
Gold is now rising more actively than it did in the previous long-term bull cycle. In 2011, years of gains were followed by a two-year consolidation, which was replaced by a three-year bear market
Gbpusd bull & big Bull read the caption In the bigger picture, price actions from 1.3141 medium term top are seen as a corrective pattern to up trend from 1.0351 (2022 low). Fall from 1.2892 is seen as the third leg. Deeper decline would be seen to 1.2036 support and possibly below. But strong support should emerge from 61.8% retracement of 1.0351 to 1.2452 at 1.1416 to complete the correction