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EUR/USD Short Opportunity: Riding Downside MomentumThe EUR/USD pair is poised for a potential downside move as key technical and fundamental factors align. Here's my analysis: Target Projection: With a clear break of 1.06, the EUR/USD could aim to take out the previous year's low, currently at 1.0450, and head straight for the level of 1.0377. This breakdown suggests that sellers are gaining control and may drive the pair lower. This downside target aligns with the bearish momentum and could be achieved by the end of May or leading into June. Due to possible Eurozone interest rate cuts. Short Positions: I've initiated short positions at 1.0802 and 1.0720 , anticipating the downward move. These positions provide an opportunity to capitalize on the expected decline in the EUR/USD pair. Rising US Bond Yields: The forecasted rapid increase in US bond yields adds further pressure on the EUR/USD pair. Higher yields attract capital flows into the US dollar, strengthening it against other currencies, including the euro. Potential Interest Rate Hikes: Concerns over rising inflation data could prompt the Federal Reserve to consider interest rate hikes later in the year. Such actions would likely support the US dollar and weigh on the EUR/USD exchange rate. Entry: Consider adding to short positions on any retracements towards resistance levels, but maintain a focus on the downside bias. Stop Loss: Set a stop loss above the recent swing high, 1.0813, or a key resistance level to manage risk effectively. Take Profit: Target the projected downside level of 1.0377, but consider adjusting the target based on evolving market conditions and price action.
Short
by mackmackeyy
EURUSD - 1H SellThe EURUSD chart indicates a potential bearish movement. The recent price action suggests that the pair is experiencing a weakening of the bullish momentum. After reaching a recent peak, the price is showing signs of a downward trend, indicating a possible decline towards the highlighted support zone around 1.08400. The price action around this level is crucial; if the support zone fails to hold, we could see a continuation of the downtrend. This setup aligns with the current market sentiment, pointing towards further selling pressure. Traders should watch for confirmations around the support zone to determine the next move.
Short
by Sober_Trading
DXY H4Let's break down the analysis of the DXY (US Dollar Index) 4-hour chart step by step. ### Key Levels and Trends: 1. **Support and Resistance Levels**: - **Resistance Levels**: - 106.170: This is a significant resistance level marked by the uppermost black line. - 105.383: Another resistance level, indicated by the middle black line. - **Support Levels**: - 103.633: This is a crucial support level, highlighted by the lower red line. - 102.717: Another key support level, indicated by the lower black line. - 101.476: A major support level represented by the lowest red line. 2. **Current Price**: - The current price is 104.558, which is marked slightly above the middle of the chart. 3. **Potential Scenarios**: - **Bullish Scenario**: - If the price breaks above the 104.772 resistance level, it could move upwards towards 105.383. - A sustained break above 105.383 could push the price further up to 106.170. - **Bearish Scenario**: - If the price breaks below the 103.633 support level, it could decline towards 102.717. - A break below 102.717 would be significant and could lead to a further drop towards 101.476. 4. **Price Channels**: - The price has been moving within a descending channel, which is marked by the two diagonal lines. - The upper diagonal line acts as dynamic resistance, while the lower diagonal line acts as dynamic support. 5. **Price Action Analysis**: - The price has been consolidating within the range of 103.633 and 104.772, indicating a potential accumulation phase before a breakout. - There have been previous instances where the price tested these levels, showing their importance. 6. **Arrows and Possible Movements**: - The upward arrows indicate potential bullish movements if the resistance levels are broken. - The downward arrows show potential bearish movements if the support levels are broken. ### Summary: - **Bullish Potential**: A break and close above 104.772 could trigger a move towards 105.383 and possibly 106.170 if the bullish momentum continues. - **Bearish Potential**: A break and close below 103.633 could open the door to 102.717, with further downside potential towards 101.476 if bearish momentum persists. ### Conclusion: Traders should closely monitor the key levels of 104.772 and 103.633 for potential breakouts. A move above 104.772 could signal bullish momentum, while a move below 103.633 could indicate bearish pressure. The price channels and the current consolidation phase suggest that a significant move might be on the horizon once these levels are decisively broken.
CAPITALCOM:DXY
by Sibonginkosi_Sithole-Job3
XAUUSD ANALYSIS OF THE WEEKLast week market has seen major volatile movements and this week the market will be more volatile due to abundant economic events that are about to happen. last week we have seen fall to major support area of 2322 and again market trying to breach the support and go to area of 2310 and from there a down fall to even 2281. The major moving averages both smoothed and exponential are in areas of 2344 to 2347 area. Breach above the area will meet major resistance of 2355 2367 2374 2383 2397. BULLISH AND BEARISH TARGET : BULLISH: 2335 2343 2347 2355 2367 2376 2398 BEARISH; 2321 2312 2298 2287 2282
OANDA:XAUUSD
by realmillionairefx
1
xauusd ADP NONFARM EMPLOYMENT REPORTADP is performs payroll services for its clients. The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients. The release, two days ahead of government data, is used as a predictor of the government's Labour Market Report. A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD. FORECAST 173K PREVIOUS 192K ACTUAL 152K the data released is less than forecast and also less than previous report, which is too much bearish for dollar. its impact may show up after the us market is opened
OANDA:XAUUSD
by realmillionairefx
XAUUSD H4 - Long SignalXAUUSD H4 Here is the outlook for XAUUSD as it stands, we are firm believers in trading what you see. We can see the DXY took a slight bounce from that 104.000 mark and therefore the DXY is still in bullish demand. That being said, $2330/oz has been our previous area of support for a while now, and we hold our ground until it breaks. Upon a potential break, we can simply change our bias and start trading in line with the new breakout trend (should it sustain). A simple motto we go by, trade what you see and don't fix it unless it's broken. This is the staple of a zone trading strategy. Learn to love your losses when they can occur, because these losses often lead the a monster of a reversal trade.
FX:XAUUSDLong
by Trade_Simple_FX
dollar Index to fall towards 101, 100Dollar index has been weak on recent weeks and this move is likely to continue. I expect XETR:DAX to continue falling towards it's previous support and resistance levels at around 102, 101 then 100 If this move happens then it is good news for pairs like FX:EURUSD and FX:GBPUSD as they are all set to drift north. Fundamentally news have been against the dollar recently. On monday 3rd we had US ISM Manufacturing figures which came lower than expected. Today 4thmay24 their is JOLTS Job opening report which is also expected to be lower and this will be a negative driver for $dax. Always do your own research before pulling and shots . Use a hard stop loss and good luck. Check my socials and follow for updates
TVC:DXYShort
by alonso780
The Dollar Remains On TrackThe dollar is right on its projected path as expected. Inflation has prevented the Fed from lowering rates at least once. Can we expect a rate drop before the end of the year? My guess is that even with a bit of inflation showing the Fed will drop rates at least once. There are several reasons for my conclusion here not least of which are weakening economic indications which are too numerous to list for the purposes of this post but some of which are the collapsing car market, cc default rates exploding, commercial real estate vacancies still increasing, and many other factors and lead indicators. There is also the fact that the Fed was initially expected to drop rates 3 times in 2024. Failing to drop at least once before the end of the year would have psychological ramifications on the market that potentially could be disastrous. And finally, there is the fun fact that historically the Fed has always adjusted rates in an election year. There is only one exception to this rule …2012. Based upon this statistic alone we can see that the probability of a rate adjustment this year is high. And we know that if there is an adjustment, it will almost certainly be to the downside as that is what has been expected all along. Any anomaly to expectations would cause chaos and catastrophe in the markets. All this being said we can then continue to expect the dollar to travel its expected pathway …down. 103.5 is the next support. Below that is that pink ascending trendline around 102 and rising.
TVC:DXYShort
by stewdamus
Trade Like A Sniper - Episode 14 - US10Y - (3rd June 2024)This video is part of a video series where I backtest a specific asset using the TradingView Replay function, and perform a top-down analysis using ICT's Concepts in order to frame ONE high-probability setup. I choose a random point of time to replay, and begin to work my way down the timeframes. Trading like a sniper is not about entries with no drawdown. It is about careful planning, discipline, and taking your shot at the right time in the best of conditions. A couple of things to note: - I cannot see news events. - I cannot change timeframes without affecting my bias due to higher-timeframe candles revealing its entire range. - I cannot go to a very low timeframe due to the limit in amount of replayed candlesticks In this session I will be analyzing US10Y, starting from the 3-Month chart. - R2F
TVC:US10YEducation
by Road_2_Funded