AUD/NZD:ABCD PATTERN BULLISH | PRICE IS GROWING | LONG 🔔Hello Everyone, I hope you'll Appreciate our Price action Analysis !
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GBP/CAD:DOWNTREND|NEW SWING SHORT SETUP|SHORT ⚡️Hello Everyone, I hope you'll Appreciate our Price action Analysis !
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GBP/NZD:REVERSAL SETUP | PRICE WILL DROP | SHORT 🔔Hello Everyone, I hope you'll Appreciate our Price action Analysis !
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GBP/USD: DOWNTREND | $1.2200 NEXT TARGET | SHORT 🔔GBP/USD: A drop to 1.2200 remains on the cards – UOB
In opinion of FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang, cable still risks a deeper pullback to the 1.2200 neighbourhood.
Key Quotes
24-hour view: “Yesterday, we highlighted that ‘the weakness in GBP appears to have stabilized somewhat’ and ‘GBP is unlikely to weaken much further’. We expected GBP to ‘trade between 1.2270 and 1.2370’. GBP subsequently traded within a wider range than expected (1.2262//1.2405) before closing little changed at 1.2330 (-0.07%). The movement is likely part of a consolidation and we expect GBP to trade between 1.2280 and 1.2410 for today.”
Next 1-3 weeks: “We highlighted last Friday (06 May, spot at 1.2370) that GBP could weaken further and support is at 1.2250. GBP dropped to a low of 1.2262 yesterday (09 May) before rebounding. We continue to see risk for a lower GBP even though shorter-term downward momentum has waned somewhat. Overall, GBP has to break clearly below 1.2250 before a move to 1.2200 is likely. On the upside, a breach of 1.2450 (no change in ‘strong resistance’ level from yesterday) would indicate that GBP is not ready to break 1.2250.”
Trading Idea - #CyxteraMy trading idea on Cyxtera Technologies - Buy/Long
Target: 15.00 USD (+23%)
Stop: 10.51 USD
Cyxtera Technologies runs about 60 data centers around the world and provides services to more than 2,300 companies.
Approximately 90% of the company's shares are held by institutional investors. Institutional investors have continued to show interest in the company over the past 3 months. Further purchases have been made.
The profitable company has basically only one disadvantage. The buildings in which the data centers are located are mostly only rented. In some cases, rent extensions are pending with an uncertain ending.
My buy decision is based on chart technical analysis, where we are in an upward channel. The long-lasting support diagonal is currently being tested once again. An ideal entry from my point of view.
Trading Idea - #FreenetMy trading idea for Freenet AG - Buy/Long via Limit Order
Entry: 20.00 EUR
Target: 26.00 EUR (30%)
Stop: 18.50 EUR
Freenet is considered a dividend jewel and has also demonstrated itself to be a stagflation-proof stock in recent months. Since the beginning of the pandemic, it went steadily upwards, with some occasional sharp pullbacks.
Most recently, the share price collapsed again. It was to be expected that there would be a stronger correction due to the announced dividend cut (1.57 EUR per share). At the end of the trading day, it was much more than a corecture. The share plunged 17% after a critical outlook from the Swiss bank UBS. The bank issued a sell recommendation, as it no longer considers the mobile reseller business profitable in the long term. The reasons for this are rising reseller fees, increasing data consumption by end customers and that network operators are strengthening their own marketing channels. Last but not least, there is also the threat of regulatory problems with the Federal Network Agency. However, the time has not yet come and a further recovery in the share price seems probable. I am aiming for a new high for the year.
Bitcoin Trade Plan: Strongly suggest move to $30,000 in mid termHey guys, here is the Daily timefr ame update on Bitcoin chart. If you like this chart, please use Like button 💙💛
I really like to see bullish outcome for Bitcoin, and to get it as higher as possible this year. But take a look at positions of the Moving averages on the chart: I am using combo of Daily moving averages 500 and 620, this is rarely used MAs, but they works nice on Bitcoin, and shows crucial support bound near $36,000. If we going to see breakout from $36,000 *DMA620 — price will likely to move down to $30,000.
In case breakout from $30,000 it will cause domino effect and price will fall at least down to $22,000 to Weekly Moving Average 200 (WMA200). This is strong support line for Bitcoin all-time history.
In case Bulls can fight for $46,000 + region, we going to see move upwards to Supply zone of $50,000-56,000 where another (3rd) large sell-off can occur. But anyway, this is Plan B for Bitcoin durin Q2 of 2022.
Thanks for your attention.
🙏Pray for Ukraine 💙💛
Trading Idea - #DeliveryHeroMy trading idea on Delivery Hero : Buy/Long
Target: 95.00 EUR (+215 %)
Stop: 9.00 EUR
Delivery Hero has been disappointing all along the board since the beginning of the year! The share price breaks through every support line and clearly lags behind the DAX.
New hope for a share price recovery comes from both a chart and a fundamental perspective. The share price is currently at the strongest support level around EUR 30.00. For a short time, the price dipped to the all-time low (EUR 25.50), which was also the IPO trading price from 2017.
Fundamentally, Delivery Hero increased its revenue by approx. 50% compared to the previous year and made another step towards profitability. Management's goal continues to be the global expansion of the business.
Company Profile: Delivery Hero is the world's leading local delivery platform, offering its service in about 50 countries in Asia, Europe, Latin America, the Middle East and North Africa. The company started in 2011 as a food delivery service and now operates its own logistics on four continents.
GBP/NZD: UPDATE | PRICE READY FOR REVERSAL | SHORT !Hello Everyone, I hope you'll Appreciate our Price action Analysis !
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DAX40: DOWNTREND | NEW BEARISH IMPULSE | SHORT SETUP 📈Hello Everyone, INDEX INSIDERS here!
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ESP35:IBEX DOWNTREND | NEW SHORT TRADE TRIGGER | SHORT 📉Industrial production fell 1.8% in March on month, the sharpest fall since May 2021, data from the country's statistics office INE showed Friday. In February, output increased by 0.9%.
On an annual basis, industrial production rose by a marginal 0.1% in March, the data showed.
The Spanish economy, the eurozone's fourth largest, expanded 0.3% in the first quarter over the preceding quarter, as the spread of the Covid-19 Omicron variant in early 2022 weighed on the services sector.
However, the economy is expected to pick up pace in the second quarter as a rebound in services activity will likely offset a subdued performance of the factory sector, Pantheon Macroeconomics' senior Europe economist Melanie Debono said in a research note.
AUD/NZD:ABCD PATTERN REVERSAL | SHORT SETUP ⚡️Hello Everyone, I hope you'll Appreciate our Price action Analysis !
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GBP/USD:DOWNTREND| FUNDAMENTAL + TECHNICAL | SHORT CONTINUATIONGBP/USD traders getting set for NFP, the straw to break the camel's back
GBP/USD down looking into the abyss on strong USD.
US NFP is now the key event that could be the icing on the cake.
At 1.2365, the pound is flat vs. the US dollar but remains in highly bearish territory having collapsed below vital daily support on Thursday. GBP/USD fell from a high of 1.2634 to a low of 1.2325 on a combination of stark warnings from the Bank of England, poor global economic data and the prospects of an aggressive Federal Reserve.
The Bank of England hiked rates by 25bps, but ''shockingly, the BoE is now forecasting inflation at 10.25% YoY in Q4 this year, up from its earlier estimate of 5.75%, on utility costs,'' analysts at ANZ Bank explained.
''In a particularly pointed example of what is a common global theme, inflation is causing a “real income shock” – with average earnings growth not keeping pace with inflation, real personal consumption will inevitably slow sharply.''
''In fact, the BoE forecast all components of domestic demand to decelerate throughout this year and into next.''
Against a backdrop of worsening PMIs out of China and Germany’s factory orders fell a colossal 4.7% in March vs. -1.1% expected, the US dollar thrived in anticipation of inflows to the US economy that has fared better by comparison to elsewhere.
Eyes on NFP
This leaves the Nonfarm Payrolls as a critical event. For instance, ANZ Bank explained, ''whilst the Fed is not currently considering a 75bps rate increase, that guidance is based on expectations that the trend increase in monthly Nonfarm payrolls will slow and core inflation is stabilising.
But there are no guarantees at all that that will be the case. Demand for labour in the US remains very strong and core services inflation is rising steadily. The April Nonfarm payroll and employment reports tomorrow night, therefore, carry a lot of significance.''
GBP/USD:Losing 2% after BoE with next big stop as low as 1.2000 GBPUSD collapsed by 1.9% or more than 230 pips to 1.2380 from the start of the day on Thursday, with pressure intensifying after the Bank of England’s bank rate decision announcement.
As analysts had expected, the Bank of England raised the rate by 25 points to 1.0%. Three of the nine monetary policy committee members called for a 50-point increase at once, and there were hints in the comments that a 50-point increase could be an option at subsequent meetings.
At the same time, the Bank of England has worsened its economic outlook for 2023, expecting the economy to contract in response to tight financial conditions and the effects of high energy prices. The currency market sees the recession as a notable negative factor, putting pressure on medium and long-term interest rates.
After consolidating over the last few days and attempting a rebound yesterday after the FOMC, GBPUSD has moved sharply back down and updated to lows from June 2020, a strong bearish signal.
The pair runs the risk of slipping to 1.2000, an area proven to be the Pound’s last line of defence more than once in previous years, without much of a hurdle. The significant support of the previous six years and the 161.8% Fibonacci target from the last declining momentum since late April are concentrated here
AUD/USD:DOWNTREND | BEARISH CHANNEL | PRICE IS FALLING Hello Everyone, I hope you'll Appreciate our Price action Analysis !
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EUR/USD:UPDATE : PRICE IS GROWING FAST | LONG SETUP Hello Everyone, I hope you'll Appreciate our Price action Analysis !
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GBP/USD:DOWNTREND | PRICE READY TO FALL | NEW TARGETSHello Everyone, I hope you'll Appreciate our Price action Analysis !
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EUR/USD:FUNDAMENTAL NEWS+TECHNICAL ANALYSIS | LONG SETUP 🔔EUR/USD Forecast: Corrective advance could continue in the near-term
EUR/USD Current Price: 1.0566
A better market mood and caution ahead of the Federal Reserve decision weigh the dollar.
The EU Producer Price index soared to 36.8% YoY in March, signaling persistent price pressures.
EUR/USD trades near the upper end of its latest consolidative range, still at risk of reaching lower lows.
The EUR/USD pair is up on Tuesday, currently trading at around 1.0565, as a better market mood constrained demand for the American currency, which anyway holds on to substantial yearly gains against most major rivals. Investors are becoming cautious ahead of the US Federal Reserve monetary policy decision, to be out on Wednesday.
The improved sentiment, however, is likely to be short-lived. Spiraling inflation, tensions in Europe amid the Russian war on Ukraine and a rising number of coronavirus contagions not only in China anticipate a long road ahead towards economic stability. At the same time, central banks are draining markets from easy money meant to provide support in the early stages of the pandemic.
Asian and European indexes trade in the green, reflecting a better perception of risk, while government bond yields give up some of their Monday’s gains. The yield on the 10-year US Treasury note peaked at 3%, now hovering around 2.95%, while the German note yielded over 1% for the first time since 2015.
Data wise, the EU released the March Producer Price Index, which jumped to 36.8% YoY from 31.5% in the previous month, indicating that price pressures are far from over. The American session has nothing relevant to offer, as the US will release March Factory Orders and JOLTS Job Openings for the same month. European Central Bank President Christine Lagarde will be on the wires.
GOLD:RSI+STOCH DIVERGENCE | PRICE MAY FGROW AFTER FED'S RATE Gold Price Forecast: XAU/USD sees a reversal to near $1,860 amid anxiety over Fed’s rate hike
Gold prices have displayed exhaustion in the downtrend as the RSI (14) showed a bullish divergence.
The anxiety over the interest rate decision by the Fed has paused the Fx domain.
The US labor market sees 400k additions in April.
Gold Price (XAU/USD) is hovering around $1,865.00 and is likely to remain on tenterhooks as uncertainty over the announcement of the monetary policy by the Federal Reserve (Fed) has paused the whole Fx domain. The precious metal has displayed a subdued performance in the early Tokyo session and is likely to perform lackluster till the announcement of the interest rate decision.
Gold prices are going to witness a lack of attention from investors for a prolonged period as the determination of the Fed to return to neutral rates will keep pushing itself to raise interest rates sooner rather than later. An interest rate hike by 50 basis points (bps) is on the cards but taking into consideration the multi-decade high inflation and consistency in full employment levels and wage-price hikes, one more jumbo rate hike by the Fed looks imminent.
Meanwhile, the US dollar index (DXY) is attempting to overstep 103.50 in this session. Apart from the Fed’s policy, the DXY is also focusing on the release of the US Nonfarm Payrolls (NFP), which is due on Friday. The job additions by the US administration in April are expected to land at 400k against the prior print of 431k. Also, the Unemployment Rate looks to decline to 3.5% from the previous figure of 3.6%.
Gold technical analysis
The formation of bullish divergence on an hourly scale is signaling a reversal in the downtrend. The asset made a lower low while the momentum oscillator Relative Strength Index (RSI) (14) didn’t register a fresh low, which showed exhaustion in the downside momentum. The 50- and 200- Exponential Moving Averages (EMAs) at $1,871.63 and $1,890.96 respectively, still favor the downside. The RSI (14) is likely to find a cushion at around 40.00, which will result in a fresh bullish impulsive wave ahead.
EUR/NZD:NEW BULLISH IMPULSE | SWING TRADING | LONG ⚡️Hello Everyone, I hope you'll Appreciate our Price action Analysis !
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