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GOLD:New BULLISH Setup FIBO 100% Extension as Target LONG !GOLD has turned sideways around $1,844.00 ( as predicted by us ) in the early European session after surpassing the $1,840.00 hurdle. The precious metal continues its struggle for breaking above the crucial resistance of $1,850.00. The gold price is expected to display a decisive move after the release of United States ISM Manufacturing PMI data. According to the estimates, the ISM Manufacturing PMI is expected to deepen further to 48.5 from November’s release of 49.0. Shrinking manufacturing activities in the United States are expected to deliver signals of further downside in the inflation projections, which could compel the Federal Reserve (Fed) to slow down the policy tightening measures. However, investors will get more clarity on the monetary policy outlook through Federal Open Market Committee (FOMC) minutes, which will release on Thursday. We Are looking for a new Bullish setup with the extension of 100% Fibonacci level from the last impulse as a target.
OANDA:XAUUSDLong
by FOREXN1
6
EUR/USD:BUY From Support Area For A LONG Continuation!EUR/USD inside a Bullish channel is making Higher-highs and Higher-lows with re-tests on the previous Support areas. Yesterday we shared our Idea about a new Bullish impulse meanwhile most traders were scared about the drop made by the re-open of the USA session market after a holiday pause. Today the US ISM Manufacturing PMI is seen dropping further to 48.5 The US manufacturing sector seems to be a contraction that is set to deepen further at the beginning of 2023, having shrunk for the first time in November after May 2020 when the economy began to recover from the Covid lockdown-induced downturn. In December, the headline ISM Manufacturing PMI is seen lower at 48.5 while the New Orders Index is expected to improve to 48.1 alongside the Employment Index at 49.1. The US ISM Prices Paid component is likely to continue its downtrend, foreseen at 42.5 in December when compared to the previous reading of 43.0. Despite expectations of a softer headline figure, an improvement in new orders could provide the much-needed respite to the US Dollar buyers at a time when the European demand for orders is seen dwindling, with the full impact of winter and the Russia-Ukraine war coming through. Even domestic demand and exports are expected to be badly hit due to the stubbornly-high inflation in the US economy. Our forecast is about a new Bullish impulse For EUR/USD.
Long
by FOREXN1
2
USD/JPY:SELL From Resistance Area - USD ISM Manufacturing SHORTUSD/JPY inside a Strong bearish channel is making Lower-highs and Lower-lows with re-tests on the previous Support areas. Today the US ISM Manufacturing PMI is seen dropping further to 48.5 The US manufacturing sector seems to be a contraction that is set to deepen further at the beginning of 2023, having shrunk for the first time in November after May 2020 when the economy began to recover from the Covid lockdown-induced downturn. In December, the headline ISM Manufacturing PMI is seen lower at 48.5 while the New Orders Index is expected to improve to 48.1 alongside the Employment Index at 49.1. The US ISM Prices Paid component is likely to continue its downtrend, foreseen at 42.5 in December when compared to the previous reading of 43.0. Despite expectations of a softer headline figure, an improvement in new orders could provide the much-needed respite to the US Dollar buyers at a time when the European demand for orders is seen dwindling, with the full impact of winter and the Russia-Ukraine war coming through. Even domestic demand and exports are expected to be badly hit due to the stubbornly-high inflation in the US economy. Our forecast is about a new Bearish impulse today.
Short
by FOREXN1
3
EUR/USD:SELL From Resistance Area For A SHORT SetupEUR/USD has lost its bullish momentum and retreated to the 1.0650 area after registering modest gains on Thursday. In the absence of high-impact macroeconomic data releases, investors are unlikely to commit to large positions on the last trading day of the year. Hence, EUR/USD should continue to fluctuate in its weekly range. The positive shift witnessed in the risk mood on Thursday made it difficult for the US Dollar to find demand and helped EUR/USD push higher. Bargain shopping ahead of the New Year holiday may have triggered the rally in Wall Street's main indexes as there were no apparent fundamental drivers that could have impacted the sentiment significantly. The price is still inside a bullish channel where a Divergence on the stochastic, in confluence with a resistance area can give the bearish impulse that we are looking for.
Short
by FOREXN1
6
SILVER:SELL From Resistance Level For A SHORT SetupSilver in the lower timeframe makes a Double Top where the price today can have a retest of 23.800 before a new bearish impulse. In the Higher timeframe, the price is struggling in the dynamic trendline where the price in the past had a rejection and pullback in the direction of the main trend, the downtrend. In our analysis, the price is approaching the overbought area on the stochastic indicator and our forecast is about a new bearish impulse.
OANDA:XAGUSDShort
by FOREXN1
6
GOLD:SELL Price In Divergence After $1,835 Spike SHORT SetupGOLD After the last bullish impulse the price is trying to mitigate again the value. The precious metal has been trading lower on Tuesday, giving away gains after a spike high to $1,835 seen on Tuesday. The moderately positive market mood, triggered by news that China is scrapping quarantine for inbound travelers has lifted the market mood in an otherwise quiet post-Christmas market. In the chart, we can see a Divergence and the price may have a new Bearish impulse.
OANDA:XAUUSDShort
by FOREXN1
15
GBP/USD:SELL From Resistance Trendline Bearish Channel SHORTGBP/USD inside a Bearish channel today can have a reversal from the upper side of the dynamic trendline of the channel resistance for a new reversal in the direction of the main trend. The Stochastic indicator is in the overbought area with divergence and we are looking for a new reversal on the lower side of the chart. Today there is the US Unemployment Claims that measure The number of individuals who filed for unemployment insurance for the first time during the past week, Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country's monetary policy. If this data will show a lower number of claims, this will give a boost for the USD to grow and for the GBP to fall.
Short
by FOREXN1
14
EUR/USD:SELL From Resistance Area For A New SHORT SetupEUR/USD inside a Sideways area today can have a reversal from the upper-side resistance area where the price in the last sessions had already rebounded several times. Today there is the US Unemployment Claims that measure The number of individuals who filed for unemployment insurance for the first time during the past week, Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country's monetary policy. The Stochastic indicator is in the overbought area and we are looking for a new reversal on the lower side of the chart.
Short
by FOREXN1
14
NZD/USD:SELL From FIBO Resistance Levels For A New SHORT Setup⚡️NZD/USD Inside a Bearish channel in the last hours price is trying to recover value but as you can see the price is making Lower-highs and Lower-lows. Now the Price is approaching a Resistance Area with the presence of the FIBO Levels where in this spot the price may have a new Reversal in the direction of the main trend. Important will be today the Key events: USA – Core Durable Goods Orders (MoM) (Nov) USA – Core PCE Price Index (MoM) (Nov) Canada – GDP (MoM) (Oct) USA – New Home Sales (Nov) We are Looking for a new SHORT setup here.
Short
by FOREXN1
5