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💡 GBPUSD: Continuing strong growth momentumING stated that the focus in the UK would be on the November CPI data released on Wednesday. Service inflation is anticipated to be 6.6%, suggesting a limited progression in inflation. This development is expected to prompt the market to reduce some of its speculations about a potential UK interest rate cut. Although services inflation in the UK is projected to decelerate to approximately 4% next summer, providing leeway for the Bank of England to initiate interest rate cuts, there remains an opportunity for the Pound to benefit from certain policy repricing in the short term. Observing the H4 chart, GBP/USD appears to retreat from the overbought territory, with the MACD double line and histogram bar diminishing upward near the zero axis. The ongoing decline from the peak of 1.2795 is likely to lead to a corrective downturn in the short term; however, it is anticipated that the price will find support in the 1.2600 region. You can set BUY LIMIT, stop loss is necessary.
Long
by Stone_Haven
2
💡 XAUUSD: Signs of price reversal Gold experienced a decline on Friday, bouncing back from the resistance level after showing weakness during the preceding Thursday's upward movement. This indicates the continued influence of a dominant force from above. The daily (D1) chart for gold depicts a sideways structure with an overall inclination towards price appreciation. Following an accumulation around the resistance zone, the hourly (H1) gold chart witnessed a breakdown, pushing the price downward and reaching the lower boundary. This development hints at the potential formation of a bearish price structure and a robust downward momentum. Today's primary strategy is to anticipate a rebound in H1 gold for selling opportunities at higher levels. If the price is once again propelled above the aforementioned resistance, it signals a resurgence of strength, providing a foundation to consider buying H1 gold.
OANDA:XAUUSDShort
by Stone_Haven
💡 XAUUSD: Still increasing despite good news for USDIn the face of favorable economic and employment indicators, the US dollar continued its decline for the second consecutive session. Notably, the Dollar-Index, which gauges the USD's strength against a basket of six major currencies, experienced a significant drop of 0.88%, reaching 101,960 points at 6:34 a.m. this morning (Hanoi time). The diminishing value of the USD has spurred investors to persist in acquiring gold. Their rationale lies in the belief that central banks, such as the Federal Reserve (Fed) and the European Central Bank (ECB), are unlikely to further raise interest rates for two robust currencies, the USD and EUR. There is speculation that these central banks may even consider reducing interest rates in the upcoming two quarters. This anticipation has fostered investor confidence in the continued growth of the gold market. Despite the weakened USD, experts note a significant reduction in the costs associated with speculating on and transacting in gold. However, investors are advised to exercise caution. While a weakened USD and the prospect of lower interest rates may bolster economic growth, there is a possibility that gold's role as a safe haven for cash flow could diminish. Currently, the substantial SPDR fund, having engaged in net buying on December 13, opted to take a modest profit during the session on December 14. The influx of profits from precious metals is expected to exert downward pressure on gold prices. Consequently, investors are advised to capitalize on profits when gold is yielding positive returns.
OANDA:XAUUSDLong
by Stone_Haven
💡 XAUUSD: Strong increase after FOMCGold prices rebounded extremely strongly from the 1975 support level in the last session, creating a huge Marubozu candlestick on the daily frame and along with it, bullish engulfing patterns. The psychological barrier of 2000 has been regained and the price is now retesting the previously broken down channel. You should not consider this as a normal retest to watch for selling because the buying force is very strong and needs more time to observe. -> You can watch and sell at the resistance zone
OANDA:XAUUSDShort
by Stone_Haven
#CADJPY Elliott wave analysishello dear traders and colleagues. Lets have a look at a very long term chart of CADJPY. If we want to interpret the chart using Elliott wave principle we can see from the bottom that we have completed a 5 wave impulsive bullish move (corrective wave 4 is running flat formation) and then we can see a 5 wave bearish impulsive (which also labeled as wave A). Now that the price reached the top unless we are witnessing a running flat we can expect that the bullish move as wave B is also reached its destination and from now we can wait for the wave C to be completed. Initial target would be the previous low if we assume that this large corrective formation is regular flat. For opening a position in case you want to use candle stick patterns you can wait for the weekly close and see if price formed evening star which seems possible. Other than that you can always wait for price to penetrate the previous low or perhaps triggers can be found in lower time frame and following the lower time structure. Also it should be noted that in case price close above last week high or close above resistance level this wave analysis is invalid. Please let me know if you like this kind of long term analysis.
Short
by mohemati
5
#AUDCAD potential bullish continuationAs you can see in the 4-hour timeframe chart, there are several different bullish confluences that we are currently observing. Firstly, the price is retesting a bullish trendline that has supported this recent bullish move since October 16th. Secondly, the price is also finding support from the 200EMA , and the price formed a nice rejection off this overlay indicator. Thirdly, we have bullish divergence between price and the stochastic oscillator, suggesting that momentum has shifted to the upside. Also, from a market structural point, the price is forming higher highs and higher lows and is currently testing the previous resistance, which has now turned into support. After observing all these bullish confluences, the price then formed a bullish engulfing candle, suggesting that bulls are active in the market. To participate in this market, there are two things that we can do. Either we can engage in this market by executing a buy order at the current price or place a buy limit order at 50% of the bullish engulfing candle, of which I prefer to use the second method.
Long
by mohemati
2
💡 EURUSD: Waiting for FOMCThe buying force returned in the last session, and although it once surpassed the old peak around 1,081, it could not maintain above this price level, the selling force returned and created long candle shadows above, the behavior This price shows that there is still a significant struggle around this resistance level. You continue to observe to see if the price will break the upper or lower boundary of the range before taking action. We can setup Buy limit . Stop loss is necessary
Short
by Stone_Haven
💡 XAUUSD: Continued pressure from sellersGold D1 experienced its third straight day of decline. Yesterday's D1 bar formed a bearish pin bar, indicating significant selling pressure. The emergence of an inside bar pattern suggests a buildup of price compression. Despite these developments, the overall structure of the D1 gold chart still appears inclined towards an upward trend. On the H1 timeframe, gold is currently trading within a range indicative of an accumulation phase, reflecting a period of sideways movement. Given the observed short-term weakness, the strategy for H1 gold today revolves around a wait-and-see approach for potential selling opportunities. This includes considering selling near upper resistance levels or entering a short position in the event of a breakdown at the lower end, followed by a retest.
OANDA:XAUUSDShort
by Stone_Haven
GBPCAD: GET READY TO SHORT!We got a confirmed bearish trend change for GC (2 LL and 2 LH is what I look for to ensure I do not fall for the trap of a fake trend change!) Now looking for trend continuation to take a short trade. Waiting for at least a 50% retracement and price coming into the fair value gap (this is a must for my system!)- then we look for a bearish trend change on 15min and ATTACK! The 50% retracement and 8Hr FVG are in line with previous support turned resistance- thus adding another confluence on this trade. This is looking like a very yummy short! Follow and Stay tuned my friends ;)
Short
by RomanaTrades
💡 GOLD: Momentum dropped sharplyThis week holds significant importance for the Gold market as the FED's hawkish policy may exert downward pressure, given the recent drop in gold prices. Last week, gold reached a historic high of approximately $2,150 but subsequently tested the critical support level at $2,000 following the release of non-farm data. The Gold market's volatility has surpassed $140, marking the highest volatility since mid-August 2020. Observing the aftermath of the US non-farm data release, gold experienced a notable decline and dipped below the 48-hour moving average. The MACD histogram's double line and bar are expanding below the 0 axis. Analyzing the H4 chart for gold, the technical recovery trend of the price appears relatively weak. -> A useful strategy is to set a Sell Limit, stop loss is mandatory.
TVC:GOLDShort
by Stone_Haven
2
💡 GOLD: Strong pressureAttempting to recover in the first half of the session, buyers were unable to push the price above the important psychological resistance level of 2000. Selling pressure returned strongly around this resistance level and created a new bearish signal. This price behavior shows that sellers are still in control of the situation, the price will likely continue to go down, those with short positions can continue to hold, the next targets are around 1930 and 1900 respectively.
TVC:GOLDShort
by Stone_Haven
US30: Thoughts and Analysis Pre-FOMCToday's focus: US30 Pattern – N/A Support – 36,280 Resistance – 36,900 Hi, and thanks for checking out today's update. Today, we are looking at US30 on the daily chart. Today's video asks if US30 will continue to track higher despite being well off its moving average. This can be a warning if you believe in mean revision. The other point we are looking at in today's report is whether we will see a stall at resistance and previous highs if the price continues to increase. A key driver could be tomorrow's FOMC; traders will be looking to see if rates remain on hold as expected and what we will hear from the FED in the statement and projections. Ideas are that we could see an end to aggressive rate policy, and what could be coming next? If it's dovish, we will look for stocks to rally; if it's hawkish, we will look for stocks to decline. Expectations are already in for May rate cuts to be priced in. Will we hear anything from the Fed to substantiate this? The FOMC will be held at 6:00 am AEDT, and the FOMC press conference will be held at 6:30 am Thursday. Good trading.
EIGHTCAP:US30Long
by Eightcap