Weeklymarketsanalysis
xauusd analysis for the week 27/52024- 31/07/2024the last week we have witnessed the biggest fall in a week in last 5 months. what will be going to happen in the coming week is much anticipated thing for traders.
our viewpoint is there will be an upward correction in the trend and the retracement zone for the market is from 2327-2333 area and the growing geopolitical tension in the middle east will also be an add on factor for this correction.
if the market goes below 2321 area of support then we can see a downfall till 2275 extended up to 2253.
bullish targets:
2343
2355
2363
2376
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Weekly Forex Forecast May 20-25th... Part 1This 2 part video covers ...
- USD Index, EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCAD, USDCHF, USDJPY
- S&P500, NASDAQ, GOLD, SILVER, CRUDE OIL
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Crude Oil Weekly Analysis- 20th to 24th May 2024
Over view
As per my previous weekly analysis, Crude oil had great ride from beginning of this year and paused from previous month. Fortunately this was necessary for having further movement. We can consider the previous month process was retracement thus by expecting further movement in upcoming weeks.
Any small bounce from this level would be great bullish indications for good week ahead.
Weekly TF
Price has exactly reacted at 0.382 Fibonacci level which is good sign of bullish continuation.
Good green candle formation after doji formation & crossed 50 EMA
Day TF
Trend: Upward range with 3 consecutive support(HL 01, HL 02, HL 03).
Now HL04 has been created and rejected at same level by creating double bottom.
Inside candle breakout has been found after creating Doji & Bullish hammer.
Price has been rejected from crucial key level
0.5 Level rejected in Fibonacci
Buy:
Entry 01:6691
Entry 02: 6962
Final Target expected: 7235
Direct Gapup/Gapdown entry should be avoided
Get confirmation from any of the leading indicators before entering trade
Kindy comment below in case of any clarification required on this particular idea.
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MCX:CRUDEOIL1!
Weekly Market Wrap With Gary Thomson: 13 - 17 MayWeekly Market Wrap With Gary Thomson: S&P500, US Dollar, Gold Price, PEP Stocks
Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.
The S&P500 Has Reached a Significant Resistance Level
US Dollar Adjusts after the Publication of Inflation Data in the US
Gold Price (XAU/USD) Is Testing an Important Resistance Zone
The Stock Price of PepsiCo (PEP) Is Retracting from its Yearly High
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XAU/USD 13-17 May 2024 Weekly AnalysisWeekly Analysis:
Analysis/Bias remains the same as last week's weekly analysis dated 05 May 2024
-> Swing: Bullish.
-> Internal: Bullish.
Price printed a bullish swing BOS followed by a bullish iBOS and continues to break all time highs.
Most likely scenario would be for price to pull back following swing and internal BOS (Break Of Structure)
First structural indication, but not confirmation that pullback has initiated would be for price to print a bearish CHoCH which is denoted by a vertical blue dashed line as internal low as CHoCH are priced at the same level.
Price is now trading within a fractal high and internal low.
Expectation is for price to pullback following swing and internal pullback. Internal low and CHoCH are positioned at the same level.
Weekly Chart:
Daily Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish swing BOS. Swing low confirmed and adjusted with swing high yet to be established.
As previously mentioned most likely scenario will be for price to pull back following swing BOS. First indication, but not confirmation, would be a bearish CHOCH denoted with a vertical dotted line which price printed.
Price is currently reacting at a daily POI.
Expectation: Price to continue bearish, react at either discount of 50% EQ or Daily POI's before targeting weak internal high.
Daily Chart:
H4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish BOS.
After bullish BOS expectation is for price to pullback.
We have nested Daily and H4 supply levels where price is expected to initiate pullback.
CHoCH is positioned at quite a distance away from current price, therefore, there is a possibility price could engineer a CHoCH closer to current price to indicate initiation of pullback.
Previous intraday expectation dated 10 May 2024 was for price to continue bullish, react at nested Daily and H4 POI levels to start pullback phase which price is indicated as printing.
Intraday expectation: Price to continue bearish, react at discount of 50% EQ or H4 POI, both of which are closely positioned before targeting weak internal high.
H4 Chart:
Weekly Trade Planning SessionThis week's analysis from the daily indexes :
DXY: +VE
EXY: -VE
AXY: -VE
SXY: +VE
JXY: -VE
BXY: -VE
CXY: -VE
ZXY: -VE
The last week's portfolio selection remains unchanged and we maintain the same outlook regarding the indexes.
The pairs going through their correction phase are coming to the end of that phase, and we should expect a trend continuation in those pairs very soon.
GBPUSD:
The downtrend has resumed below 1.2466 in the cable, but you must wait before you sell the GBP/USD. We want to sell the above 1.2564.
EURUSD:
The USD is the driver of the major pairs and the Euro is not excluded. The Daily Chart is a downtrend, using the 4-bar rule, Buy Point: 1.0847 Sell Point: 1.07604
Weekly Market Wrap With Gary Thomson: 6 - 10 MayWeekly Market Wrap With Gary Thomson: UK100, Hang Seng Index, AUD/JPY, GBP/USD, USD/CAD
Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.
UK100 Analysis: Stock Market Optimistic Ahead Of Bank Of England News
The Hang Seng Index Has Risen By Over 13% In 2 Weeks
AUD/JPY Analysis: Aussie Weakens After RBA Decision
GBP/USD Bulls Struggle While USD/CAD Regains Strength
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GBP (GBPUSD, 6B1!) From Bullish to BEARISHPrice is currently in a W/D1 -FVG. Therefore, I am Bearish.
Look at the position of price in the trading range. Reached into Premium last week, then back into Discount a bit. We Open this week with price heading up, in the near term.
Looking for the signature for sells.
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Weekly Market Wrap With Gary Thomson: 29 April - 3 MayWeekly Market Wrap With Gary Thomson: FTSE 100, US Dollar, USD/JPY, BTC/USD
Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.
London Calling! FTSE 100 Stocks Flying High Once Again;
The Dollar Is Declining: The Outcome Of The Fed Meeting Disappointed Investors;
USD/JPY Analysis: US Dollar Weakens After Statements From The Federal Reserve Chair;
April Became The Worst Month For BTC/USD Since November 2022.
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S&P500 (ES1!, SPX500, SP500) From Bullish to BEARISH1.
Price swept a lot of low resistance
lows with this bearish impulse, and
created a new Swing Low. This is the
External move.
2.
Price retraced to the -FVG, a
premium PD Array. This is an
Internal Range Liquidity move.
Expecting price to wick up past
the PDH, but close inside the
-FVG, and potentially end the
retracement. Bearish PA should
follow.
Price is in premium prices now, as it
crossed the Equilibrium of the trading
range. Buys are not recommended
until the price action shows a significant
+BOS with a strong bullish close.
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EUR (6E1!, EURUSD) Taking a BEARISH TurnLooking for an Internal to External move this week.
From the Weekly -FVG to the low at 1.06285.
The early part of the week may see price head up to sweep LQ before turning over and dropping.
* Should the 4H show a bearish break of structure with a strong close, it may provide an early signal that the retracement has ended and sells should be sought.
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Forex Weekly Planning Session 28 Apr, 2024Plan your trades and trade your plan. The weekly planning session is one of the most important things you can do as a trader.
In this session, I analysed the Currency Index basket of the USD, EUR, GBP, CAD, CHF, AUD, NZD, and JPY.
The strength lies with the USD, the rest are still in a confirmed downtrend.
USD INDEX (DXY) ... BULLISH OUTLOOKBias is Bullish.
Price has rebalanced the +FVG,
and now looks ready to target
the buyside LQ, providing the
FVG holds firm.
Expecting an Internal->External
move.
We are just shy of the 2nd
standard deviation.
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ES (S&P500)... Expecting a short term BULLISH Move!Bearish, but expecting
a short term bullish move.
Price has reached the
4th standard deviation,
swept the LRLR, then
mitigated the +OB. The
expectation now is an
External -> Internal LQ
move.
Wait/watch for signs of
reversal from the current
poi.
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GBP (6B1!, GBPUSD) ... BEARISH!Bearish.
Price has raided an old swing
low, and then mitigated a +OB.
Expecting a bullish reaction in
the near term, up to the local
lows. The market will resume
the bearish trend afterwards.
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CL1! (CRUDE OIL) ... BULLISHBullish.
After forming a new peak high,
price retraced to the +FVG.
Friday's "news wick" tapped the
-FVG above and quick returned
the +FVG. Should the +FVG hold,
expecting price to move toward
the highs, as price moves from
Internal -> External liquidity.
The LRLR to the lower left is a
draw on LQ that bears watching.
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GC1! (GOLD)... Tentatively BULLISH!Bias is tentatively Bullish.
Continues to make HLs, but
no HHs, in a tight range. Price
is close to filling in the big
wick the prev. week.
Looking to see if the PWH
is raided early in the week.
If so, I expect price to go
from External ->Internal, down
the the W FVG/+OB area from
there.
But price may need to rebalance
the +FVG before moving higher.
Waiting and watching for
definitive price action.
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EURO (6E1!, EURUSD) ... BEARISH!Bearish.
Price has moved up into
the -FVG after a BOS.
Expecting a move down
from here, as Internal
moves to External LQ.
SSL is the target, at the
lows to the left.
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XAU/USD 22-26 April 2024 Weekly AnalysisWeekly Analysis:
Analysis/Bias remains the same as last week's weekly analysis dated 14 April 2024
-> Swing: Bullish.
-> Internal: Bullish.
Price printed a bullish swing BOS followed by a bullish iBOS and continues to break all time highs.
Most likely scenario would be for price to pull back following swing and internal BOS (Break Of Structure)
First structural indication, but not confirmation that pullback has initiated would be for price to print a bearish CHoCH which is denoted by a vertical blue dashed line as internal low as CHoCH are priced at the same level.
Price is now trading within a fractal high and internal low.
Expectation is for price to pullback following swing and internal pullback. Internal low and CHoCH are positioned at the same level.
Weekly Chart:
Daily analysis:
Price has continued to print all time highs.
CHoCH has once again been repositioned closer to most recent price action. This is advantageous due to the fact that price will now not need to retrace much deeper to initiate pullback.
Remainder of analysis/bias remains unchanged since last daily analysis dated 14 April 2024.
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a swing BOS. Swing low confirmed and adjusted with swing high yet to be established.
Most likely scenario will be for price to pull back following swing BOS. First indication, but not confirmation, would be a bearish CHOCH denoted with a vertical dotted line.
As mentioned on 31 March 2024, price could potentially continue to trade bullish to seek further liquidity before pullback, however, it is looking increasingly likely a pullback will be imminent.
Daily Chart:
H4 Analysis:
Bias/Analysis remains unchanged since yesterday's analysis dated 19 April 2024.
-> Swing: Bullish.
-> Internal: Bullish.
Price remains contained within an internal range where we saw a reaction from H4 supply with price unable to close below strong internal low.
Price reacted at H4 supply and subsequently reacted at H4 demand.
Price is currently between H4 supply and demand where we are seeing a battle between the bulls and bears with price printing an internal bearish CHoCH.
The prevailing trend, which is bullish, would be a factor, therefore, current intraday expectation is for price to react at H4 demand level to target weak internal high, however, because price has printed a bearish CHoCH an alternative scenario could be for the price breach and close below internal low as all HTF's require a pullback.
H4 Chart:
Weekly Market Wrap With Gary Thomson: 15 - 19 AprilWeekly Market Wrap With Gary Thomson: UK100, USD, GOLD, OIL
Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.
UK100 Share Index Rises as UK Inflation Slows
The Dollar is Corrected after the Comments of the Head of the Federal Reserve
XAU/USD Gold Price Reaches an Important Resistance Zone
Since the Beginning of the Week, the Price of Brent Oil Has Fallen by More than 4%
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Weekly Market Wrap With Gary Thomson: 8 - 12 AprilWeekly Market Wrap With Gary Thomson: FTSE, NZD/USD, USD, USD/JPY
Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.
FTSE 100's Holy Grail of 8,000 Continues to Be a Pipe Dream
NZD/USD Rate Increases after the Decision of the Reserve Bank of New Zealand
Inflation Data Sharply Strengthens the US Dollar
USD/JPY Rises to Highest Since 1990
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CFDs are complex instruments and come with a high risk of losing your money.
The TradingView Digest - April 8thHey everyone! Welcome back to the TradingView Weekly Digest. In today’s edition, we’re highlighting the top ideas from our community, which includes a write-up on Tesla, an informative post about Keltner channels and Bollinger bands, a hot script on trailing stop management, and all the latest headlines, earnings, and economic events.
We hope you find this week's edition exciting and engaging. Let's dive in! 😀
💡 Tesla Stock Down 30% This Year. What Happened to the EV King? - by TradingView
The electric-car maker is in dire need of charging after losing more than $260 billion this year and turning Elon Musk into the biggest loser among the world’s wealthiest. Tesla stepped into 2024 as the world’s largest EV seller with a valuation of more than $780 billion. None of that is true today.
💡 Keltner Channels vs Bollinger Bands - by FXOpen
If you're a trader, you likely know that indicators are valuable tools for identifying trends and determining entry and exit points. Two popular indicators are Keltner Channels and Bollinger Bands. Both help measure volatility, but which one is better? In this article, we'll delve into the differences between the two, explain their components, and discuss which one is best.
🔝 Top Stories
📰 U.S. March Nonfarm Payrolls +303K; Unemployment Rate 3.8%
📰 Johnson & Johnson to Buy Shockwave Medical in $13.1 Billion Deal
📰 Gold Shines Above $2,300, Ends Another Week At Record High
📰 Solar Eclipse On April 8 Could Give Whopping $1.5 Billion Boost To Businesses
📰 New users flock to Ethereum while long-term holders are less active than ever
💵 Earnings highlights from the previous week:
💲 Levi Strauss (LEVI) Q1 Earnings and Revenues Surpass Estimates
💲 BlackBerry reports surprise profit on demand for cybersecurity services
💲 Conagra (CAG) Q3 Earnings Beat, Organic Sales Decline Y/Y
💲 Lamb Weston (LW) Q3 Earnings Lag Estimates, Guidance Lowered
💲 Greenbrier 2Q Revenue Declines But Beats Wall Street's Forecast
💡 Nvidia - Entering a Bear Phase! - by basictradingtv
For more than 6 years, Nvidia stock has been trading in a long-term rising channel formation. The last retest of support occurred in 2021, followed by a +650% rally to the upside. As of now, Nvidia stock is retesting the upper resistance of the channel, and we might see a short-term correction towards the downside to retest the previous all-time high.
💡 Don't Get Duped by the RSI - by ParabolicP
The Relative Strength Index (RSI) is a common technical analysis tool used by traders to gauge whether an asset is overbought (priced too high) or oversold (priced too low). It analyzes price movements over a specific period (often 14 days) and displays a score between 0 and 100. Generally, an RSI above 70 suggests an overbought condition, while an RSI below 30 suggests an oversold condition.
📆 Economic Calendar
⚡️ April 10th (United States) — Core Inflation Rate YoY
⚡️ April 10th (United States) — Inflation Rate YoY
⚡️ April 10th (United States) — FOMC Minutes
⚡️ April 12th (United States) — Michigan Consumer Sentiment Prel
⚡️ April 16th (China) — GDP Growth Rate YoY
🔥 What's New?
✅ New chart type — Volume candles
🌟 Script of the Week
📜 Trailing Management - by Zeiierman
This tool provides an automated and visual approach to trailing stop management, aiding in systematic decision-making for trade entries and exits based on risk-reward metrics.
💭 Our Weekly Thought:
“The trend is your friend.”
We hope you found this helpful. Please share your feedback, remarks, or suggestions with us in the comments below.
💖 TradingView Team
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