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XAUUSD Potential Forecast | 8th May 2023Fundamental Backdrop With the volatility in place from last week's FOMC and NFP prints, the market has yet to stabilise and we could see volatility carried over from last week to the market. Technical Confluences 1. On the daily timeframe on XAUUSD, price has tapped onto the key resistance level at 2050 before rejecting. 2. An area of support at 1959 is crucial to look at amidst the high levels of liquidity existing above this support. Idea With plenty of liquidity near the support, price could potentially tap area at 1959 before heading up. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
OANDA:XAUUSDShort
by OlympusLab
DXY Potential Short Forecast | 8th May 2023Fundamental Backdrop We had the FOMC and NFP news release last week. The FOMC increased its rate hike by 25 basis points as expected to 5.25%. The DXY dropped to a low of 101 after FED Chair Jerome Powell acknowledged the central bank's efforts to tame inflation is seeing some progress, also giving indication that it is nearing the end of its hiking cycle soon. Although the NFP results were better than expected, increasing by 253,000 jobs last month, exceeding economists’ expectations, and the unemployment rate dropping to a 53-year low of 3.4%. The results were overshadowed by traders watching for the Fed’s possible interest rate cut or pause which caused the DXY to weaken further after the NFP news release. Technical Confluences 1. Near-term support at 101 2. Next key support at 100 Idea The 1st support is at the 101 round number. We are looking for price to continue bearish towards that area. A break below 100.800 could potentially bring price towards the next strong key support of 100. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
TVC:DXYShort
by OlympusLab
1
woo usdt perpetual Hello fellow traders Greetings from team Trading The Tides lets talk about Woo which we been trading for the last 3 days and made around 30% in profits . today as the FOMC is really close and there many crucial Data down the line . First of all specifically today I don't see much buying in WOO , secondly Woo is creating more and more resistance to the upside , which make me think not to trade woo until it goes back to support and on atleast 15 min time frame creates a wick which in other sense gives idea about institution getting in to take the prices higher , so I will wait till then . My second opinion about woo is to break the lows of the symmetrical triangle on 4h , 1h and then we can plan a short trade again on the basis of breakdown structure with proper risk n reward . I don't take more than 2% SL so if the trade goes opposite , I will accept the SL and look out for other opportunities . Note : I am just a technical , fundamental analyst and day trader . Any info given is not a financial advice , i am only posting what i think is right , feel free to guide if u think i am wrong plz . Thanks .
by TradingTheTides
My today idea of Gold's possible moves 05052023Gold prices continued their upward push within the expected bullish technical path mentioned in the previous analysis, in which we relied on the confirmation of gold prices breaching the resistance of the symmetrical triangle, as we explained yesterday, heading to touch the official target of the previous analysis 2045, recording its highest level at $2067 per ounce. Technically, and by looking at the 4-hour chart, the price is stable intraday above the 2010 resistance level, accompanied by the continuation of obtaining a positive motive from the simple moving averages that continue to hold the price from below, in addition to the stability of the relative strength index above the mid-line 50. The bullish trend is the most preferred during today’s session’s trading. Still, with careful consideration, we find the stochastic indicator around the overbought areas. We may witness some fluctuation until the official trend is obtained, pushing gold to provide some bearish tendency to re-test 2010 before resuming the rise again, knowing that the trend is bullish. Its goals are 2070. Its break will lead gold to continue its strong rise towards 2098. Closing an hourly candle below 2010 may lead the price towards 1980. Note: The level of risk may be high today, and all scenarios are likely to occur, and careful consideration is required, noting that the current trading levels may not match the risk rate compared to the expected returns. Note: Today, we are awaiting high-impact data FOMC, Unemployment Rate, Average Hourly Earnings m/m
PEPPERSTONE:XAUUSD
by nasirdxb
Key Levels and US Market Review for the Asian session open 5/05US indexes again came under pressure after European Indexes went lower for the session. Concerns over US regional banks and contagion into the banking sector weighed heavily on the US open. The ECB raised rates by 25 basis points as expected to follow in the footsteps of the US Fed Reserve and the RBA. Traders may be more contained today ahead of the key US employment data just prior to the US open. Expecting a weaker open for Asian markets with the ASX200 to open down 25/30 points, the Hang Seng to open relatively flat while the Nikkei will still have to wait to play catchup as the underlying index is closed until Monday. With Global banks still raising interest rates and economies potentially slowing down, I expect bulls will have life more difficult in the near term. Focus will be on economic data to see how the US economy is fairing. Some KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch. Markets covered :- DOW Nasdaq DAX FTSE ASX200 Hang Seng USD Index Gold Oil Copper
NYMEX:CL1!
by TradeTheStructure
2
🔥 Bitcoin To $100k This Year? Rising From The Ashes Of BanksIn this analysis I want to talk about the possibility of Bitcoin going to 100k this year. This is a speculative analysis, but still based on real-world macro. Take it with a grain of salt. Bitcoin going to 100k in the middle of a banking and inflation crisis, with a FED that's increasing the interest rates? I would've said it's impossible. Not only that, but it's in stark contrast with the usual 4-year halving cycles. However, something has changed over the last months. In March, during the Silicon Valley Bank's crisis, we saw a massive bullish move. This had to do with the fact that people lost confidence in (regional) banks, and decided to get self-custody over their own money and buy Bitcoin (and gold). Since then, BTC has been trading bullish alongside Gold, hedging against the risk of further banking failures. More banks have gone under over the last few days. Signature Bank and First Republic bank went down and had to be sold and/or saved. 3/4 of the biggest banks that ever went under, went under in 2023. While the stock markets sold off over the last few days, BTC gained strength. Most notable was the reaction after the interest rate hike yesterday. The SP500 fell from a cliff, whilst Bitcoin saw a huge move upwards. Check out the analysis below where I go more into detail on why this seemingly inverse relationship exists: Albeit a small probability, I think that the idea of BTC going to 100k this year is not even that far-fetched. In my eyes, the banking sector is far from safe, especially now that the FED has increased the interest rates yet again and is very unlikely to reduce the rates in the coming months. More banks failing means more risk to your money, means more people buying BTC and gaining self-custody over their own money. And yes, more banks are failing as we speak. PacWest Bancorp has seen a 75% drop since the first of May. Smaller, regional banks falling are bullish, but won't get BTC to 100k. There is a possibility of the largest banks failing, think JPMorgan or Bank of America. And if they do, we can experience a massive influx of buying that we've never seen before, purely based on fear. In normal circumstances, the FED will aggressively cut the interest rates and start printing money to safe the banks. They can't really do that anymore because it will cause inflation. However, they most likely will because saving one of the largest US banks is going to be more important than inflation, at least in the short-term. In case you enjoyed this analysis, please give it a like. Feel free to share your thoughts below 🙏.
COINBASE:BTCUSDLong
by FieryTrading
31
GOLD → A bullish breakdown of the channel. Upcoming news Gold broke through the 2000 resistance zone on yesterday's news and was a bit unpredictable, strengthening for 2015, as on the older timeframe the prerequisites were only for a decline. There is a lot of news today that will throw the market into turmoil. Non-farm employment expectations from ADP are hard to predict as the reaction will depend on the actual figure, which we do not yet know. The PMI is expected to be more positive than in the previous period. FOMC Expectations: -BlackRock and former U.S. Treasury Secretary expect that the problem with banks and the government debt ceiling will not prevent the Fed from raising rates today. -Consensus: The Fed will raise rates by 0.25% at today's meeting and then take a pause. -Fedwatch: markets are laying down a 91% chance of a 0.25% Fed rate hike in May. All this suggests that a slight strengthening of the dollar is likely to follow, but, again, the situation is complicated, we'll keep an eye on the press releases. Strong resistance: 2019, 2025 and 2032. Strong support: 2010, 2000, the boundary of the downward channel. Gold is showing us a positive trend. If fundamentals show bullish potential for the dollar, gold will return to the correction rate format. But technically gold has accumulated a lot of potential, and a break-down of the resistance shows us the direction in which the futures are going to realize this potential. Regards, R. Linda!
OANDA:XAUUSDLong
by RLinda
29
May FOMC announcment 🫨Do we have enough steam to take us to 1.11500? Anticipating that rates stay the same and that the May Decision is Bullish. Planning since Staurday this past weekend that we may be onto something here. My Belief is that May Decision is viewed as an Optimistic data point. Preparing for a fall to 1.086 if not the case. Safe Trading. I'll be looking for opportunities about 1hr after the announcment once we have momentum and determined the direction with lowerd lot size and FOLLOW you TRADING PLAN. Okay good luck and safe trading.
Long
by ShrewdCatfx
2
USDJPY turned around from its high levelUSD/JPY first tried to fall back yesterday after the U.S. economic data was released. The data suppressed the US dollar, while some safe-haven funds entered the Japanese yen. The USDJPY turned around from its high level on March 8 and closed down for the first time in four days. It continued to fall in the Asia trading session. Potential, pay attention to the current consolidation near the 136 mark. During the day, it will focus on the Fed’s decision to see the hike rate journey. Suppose Fed’s hike rate continuously, the USDJPY would return to the 137 level and try to test the 138 mark. Technically, the USDJPY breaks the 135.03 support and may test 134.20 support.
by ATFX_Global
Analyzing the Impact of FOMC Meetings on Stock PricesAs a stock trader, it's important to pay attention to major events that can impact the market, such as the Federal Open Market Committee (FOMC) meetings. These meetings can have a significant impact on stock prices, and understanding their historical trends can help you make informed trading decisions. In preparation for the upcoming FOMC meeting on May 3, 2023, we've analyzed the highs from each FOMC meeting since 2021. We've compiled this data into a timeline that shows the market's reaction to these meetings, with vertical lines indicating market open and close. As you can see from the image below, the majority of market movers occur in the after-hours trading following the FOMC meeting. This can be attributed to the fact that traders are reacting to the decisions made by the committee and adjusting their positions accordingly. We've also calculated the percentage change from the original opening line to the high point for each meeting, with the highest mover being 6.14% and the lowest being 4.25%. These results were found at market close on Thursday following the FOMC meeting. It's worth noting that past performance is not necessarily indicative of future results, and the market can be unpredictable. However, analyzing historical trends can be a useful tool for stock traders who want to be prepared for potential market movements. In conclusion, the FOMC meeting on May 3, 2023, is likely to have an impact on the stock market. By understanding historical trends and analyzing market data, traders can be better equipped to make informed trading decisions. We hope that this analysis has provided some useful insights and helps you navigate the market with confidence. I hope that this analysis of previous FOMC meetings and their impact on the stock market will be helpful to anyone who is curious or considering trading tomorrow. However, we want to emphasize the importance of doing your own due diligence and research before making any trading decisions. The FOMC meetings can be highly unpredictable, and it's essential to trade smart and cautiously. As our analysis shows, the majority of market movement following the FOMC meetings tends to occur in the after-hours trading, making it even more crucial to be cautious. Therefore, it's crucial to stay informed, keep an eye on market trends, and use historical trends as a guide while making informed trading decisions. In conclusion, I hope this analysis provides helpful insights for traders and investors, but remember to exer cise caution and always be mindful of the risks involved in trading. Happy trading!
NASDAQ:QQQ
by jacobwilson007
XAUUSD Technical Analysis 03.05.2023 1h chart– Previous Daily candle closed strong Bullish at 2016.600 breaking above the Consolidation Zone on the Daily timeframe, Forming new Daily Support at 1982.500. – Buys on close above 2020.000 targeting 15min Resistance formed on 14th April 2023 at 2027.100, Leaving Runners to the 30min previous Support formed on 14th April 2023 at 2032.200. – Sells on close below 2012.000 targeting 15min Support at 2008.200, Leaving Runners to the Daily previous Strong Resistance formed on 21st April 2023 at 2004.500. – High Impact News day ahead for the US Dollar starting with ADP Non-Farm Employment Change and ISM Services PMI at the New York session open, later on the Day we have the Federal Funds Rate review forecasting an increase in rates to 5.25% from 5.00% followed by FOMC Press Conference, High Volatility expected during the news.
OANDA:XAUUSD
by SalimFX20
SOL Brace for VolitilitySol is approaching a year long trend line with possible momentum to brake it. Currently we are bullishly consolidating just below and today at the very bottom of a bullish flag formation reaching its end. If support for sol is real at this price level, the chart will show it by holding this flag leading to a brake to the upside for what could be a 50% price move. Case for bullish move is the daily 200 moving average has finally been pulled down the current trading range, possible reverse head and shoulders pattern, bullish flag consolidation. Looking at the wave trend and stochastic oscillators we can also see some roation to the upside from the bottom of their range. Either way a significant move the upside or down side is likely as we approach the end of the flag and the 200 moving average. If Sol cannot hold its current range a hard sell off is likely.
COINBASE:SOLUSDLong
by Degen-Dynasty