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Gold is in correction Gold price facing resistance at Fibonacci golden zone (2733-39: marked with red zone) and now moving towards the support area (green zone : at Wednesday low), under PDH and under resistance trendline sell is good towards the support area where price seems to be completing H&S formation and the neckline is at 2708-10 area, if price breakdown from H&S formation a good correction is expected. On buying side we have to wait for breakout at PDH and breakout on the resistance trendline (Why Buying? because buying is still good if we go through the footprint chart ,if we watch last two days delta , the delta is negative but not strong enough to justify any deep correction as of now).
FX:XAUUSDShort
by iambalramkashyap
Japanese Yen Slightly Rebounds, Is USD/JPY Really Reversing?Are you ready for the latest hot updates on the USD/JPY pair? Let’s dive deep into the analysis with Alisa! The Japanese Yen has slightly recovered after Japanese officials intervened, pushing the USD/JPY pair below 152.00. However, the Fed’s interest rate hike prospects and political uncertainty in Japan are limiting the Yen’s upward momentum. Investors are closely watching the PMI data to assess the global economic outlook. Looking at the technical chart, the upward trend is still ongoing. Although the USD/JPY pair is currently slightly declining, it won’t be long before the uptrend resumes. With support from the ascending price channel and the 151.00 level, the pair's upward momentum will be reinforced. So, what do you think? Will the USD/JPY pair continue to decline, or will it reverse and rise? Let Alisa know!
by Alisa_Rokosz
EURUSD bounces back from year-long support ahead of EU/US PMIEURUSD records its first daily gain in four, bouncing back from the lowest level since July 3, as traders eagerly await the preliminary readings of October's PMIs for the Eurozone and the US. The Euro pair’s movement aligns with overbought RSI conditions while it turns from an upward support line established in early October 2023. Sellers remain in control Despite an oversold RSI (14) supporting EURUSD's bounce from key support, bearish MACD signals and trading below the 200-SMA keep sellers optimistic. The downside bias is further strengthened by more dovish expectations from the European Central Bank (ECB) compared to the US Federal Reserve (Fed). Key technical levels to watch The multi-month support line around 1.0765 is crucial for EURUSD. A clear break below this level could expose the pair to a decline toward February and June 2024 lows, near 1.0700 and 1.0680, respectively. However, if the RSI conditions hold, Euro bears may face challenges around 1.0680. If not, the yearly low marked in April around 1.0600 will be the last line of defense for buyers before the pair heads toward the late 2023 bottom around 1.0450. Alternatively, a rebound for EURUSD seems unlikely while trading below the 200-SMA at 1.0870. That said, the immediate upside is protected by the 50% Fibonacci level from the pair's rise between October 2023 and September 2024, located around 1.0830. Additionally, the 38.2% Fibonacci level and an 11-week-old support line near 1.0920 and 1.1000 will be tough obstacles for bulls to overcome if they break past 1.0830. Further recovery looks challenging While some technical signals indicate that sellers may be losing momentum, several technical and fundamental factors suggest buyers are not yet ready to step in. The EURUSD's corrective bounce could continue with strong EU data and weak US statistics. However, if the US Dollar sees a positive surprise, the likelihood of further downside for the pair remains high.
by MTradingGlobal
Gold Loses Momentum, Profit-Taking Ramps UpYesterday, gold took quite an unexpected turn, didn’t it everyone? Let’s join Alisa in updating today’s gold price news! Today's gold price dropped by $33.6 per ounce, settling at $2,715.8 per ounce. This decline is mainly due to the strengthening of the US dollar and the rise in US bond yields, which reduced gold’s appeal as a safe-haven asset. Additionally, profit-taking activity has also contributed to the pressure on gold prices. Looking at the 4-hour technical chart, gold is expected to undergo a price correction and shows a slight downward trend in the short term. With the key support level at $2,715, gold may gain momentum, but it will face challenges from two resistance levels at $2,738 and $2,757. These resistance levels are likely to hold back gold’s upward movement and lead to a minor decline. Although currently in a downward adjustment, gold still holds strong potential for a robust recovery. The volatile US economic landscape and the upcoming election could quickly inject fresh energy into the gold market, making it an attractive safe-haven once again. So, make sure to keep a close eye on it!
OANDA:XAUUSD
by Alisa_Rokosz
Gold : Finally taking a breakAs discussed in yesterday's gold update that gold was due for a correction , accordingly we have seen a good correction in yesterday's trading session. Last day price close with a bearish Engulfing candle from a key level (Weekly R1) and now the major support as per volume (2738-40) is going to act as resistance area, also if we draw Fibonacci levels for last day candle we have now to major resistance in higher side for gold, one is at 2733 and another is 2739, so for intraday under these levels we can look for sell opportunities and we can look 2700 or low as our target .CPR is also descending today , any breach from PDL can result in continuation into lower side.
OANDA:XAUUSDShort
by iambalramkashyap
Economic Recession Weighs on EUR/USDHello everyone, Alisa is back! Today, let’s analyze the EUR/USD currency pair. EUR/USD has fallen below 1.0800 due to concerns over an economic recession in the Eurozone and the ECB's continued rate cuts. Inflation decreasing faster than expected has driven these decisions, reducing the Euro’s appeal. On the 4-hour chart, EUR/USD is showing a clear downtrend. The 1.080 resistance level has become a significant barrier, repeatedly pushing the price back. Even with recovery attempts, the pair is quickly pulled down by the previous support level, which has now turned into a new resistance. Investors should exercise caution with the EUR/USD pair during this period. The ECB's rate cuts and the gloomy economic outlook for the Eurozone may trigger unexpected volatility in the market.
by Alisa_Rokosz
Gold Surges Strongly, Conquering Unprecedented HeightsHello everyone. How is gold performing today? Let's discuss! Geopolitical tensions, especially the upcoming U.S. Presidential election, are driving the demand for safe-haven assets like gold higher. The global gold price has reached a new record and may continue to rise if the situation in the Middle East remains tense. Additionally, global monetary easing policies are also supporting gold prices. Gold is currently stable around $2,752, with the EMA 34 and EMA 89 acting as reliable support levels. After being supported at the critical $2,720 level, gold gained momentum but paused to accumulate at the resistance zone of $2,739. However, with its strong uptrend, gold is expected to surpass this resistance and aim for the next target of $2,770. With the current strong supporting factors, gold has a very bright outlook. However, investors should closely monitor market developments and be ready to adjust their portfolios to cope with potential risks.
OANDA:XAUUSD
by Alisa_Rokosz
USDJPY crosses 200-SMA to refresh 12-week high, focus on 152.00USDJPY has reached its highest point since July 31, rising for the third straight day after breaking the 200-day Simple Moving Average (SMA) early Wednesday. However, a seven-month-old resistance zone around 151.85-152.00 limits further gains of the Yen pair. Bulls need a strong push The US Dollar’s strength and bullish MACD signals keep buyers hopeful. Yet, overbought RSI conditions and tough resistance mean a significant boost is necessary for further upward movement. Without this, the pair could quickly drop below the 200-SMA, leading to short-term selling. Key technical levels to watch In addition to the 200-SMA support at 151.35 and the resistance zone around 151.85-152.00, several important technical levels are crucial for USDJPY traders. The 50% Fibonacci level near 150.80 will attract sellers if the price drops below the 200-SMA, along with the key threshold at 150.00. A drop to around 149.40 is possible if sellers gain control, and if the price falls past this level, September’s high of 147.20 and the 23.6% Fibonacci level at 144.85 will come into focus. On the upside, a close above 152.00 could encourage buyers to target the 61.8% Fibonacci level, or Golden Ratio, near 153.40. If momentum continues, potential targets may include June’s low of 154.55 and the 78.6% level at 157.20. Decisive move ahead… While buyers seem in control, the struggle to surpass key resistance amid overbought conditions and upcoming PMI data could lead to a necessary pullback. Traders should proceed with caution as the next moves in USDJPY will be crucial.
by MTradingGlobal
Gold Intraday PlanGold prices extended gains in yesterday trading session for the fifth day out of the last six and reached an all-time high at 2,748, just below of the psychological 2,750 mark. Geopolitical tensions and expectations that the Federal Reserve would continue to lower borrowing costs are helping gold bulls right now. As per price action gold price Invalidated the Gravestone doji pattern that was formed in Monday trading session and sustaining the price over to major support area 2738-40 (As visible on Volume profile).Today price opened with small gap down which is indication that the current over extended bull run is somewhat exhausting and need a break/ pause ,so selling with calculated risk is seems to be favourable at current elevated levels and if price breakdown this support area on volume profile then we can expect a good correction towards 2700 or low.
OANDA:XAUUSDShort
by iambalramkashyap
EUR/USD Weakens: The U.S. Dollar Rises, ECB CautiousHello everyone, Alisa here! What’s the trend for the EUR/USD pair? Let’s discuss together! EUR/USD continues to slide, reaching its lowest level in 11 weeks, trading around the support level of 1.0828. The selling pressure has increased due to expectations that the European Central Bank (ECB) will further ease monetary policy, potentially cutting interest rates once again in December. Meanwhile, the strengthening U.S. dollar is also putting pressure on the pair. Looking at the technical chart, a bearish trend is currently unfolding for EUR/USD. Despite the 1.081 support level providing some momentum, with the current factors, any upward movement is unlikely to be sustained, and the pair is expected to face resistance at the key 1.085 level and then continue to decline. Traders should be cautious with long positions and consider opening short positions when there is confirmation of a break below the 1.081 support level. Profit targets could be set around the 1.075 - 1.070 zone. That’s my take. What do you think?
by Alisa_Rokosz
Gold Rises Despite the Increasing USD and Bond YieldsToday, Alisa brings you more updates on gold prices. Let’s discuss together! Gold prices continue to be supported by a series of geopolitical instabilities in the Middle East, especially the escalating tensions in areas such as Israel and Palestine. In addition, expectations of monetary easing policies from the U.S. Federal Reserve (Fed) at the early November meeting are also a significant driving factor. Despite the rising USD and bond yields, the price of the precious metal has risen sharply. According to the technical chart at 1:00 AM, gold is fluctuating at 2,738, up by 0.6%. With solid support at 2,716 USD and decreasing selling pressure around the 2,737 USD resistance zone, the precious metal is showing positive signs. If gold successfully breaks through the current resistance level, there is a high possibility of forming a new upward trend and establishing a new peak. With the current complex developments in the gold market, what are your thoughts on the outlook for this precious metal? Feel free to share your opinions!
OANDA:XAUUSD
by Alisa_Rokosz
GBPUSD: Bears face limited downside ahead of BoE's Bailey speechOn Tuesday morning, GBPUSD is testing the 100-bar Exponential Moving Average (EMA) support, pulling back from last week's bounce. Traders are on alert as they await comments from Bank of England Governor Andrew Bailey. Sellers keep the reins but have limited downside room available While GBPUSD’s failure to stay above the 100-EMA and bearish MACD signals encourage sellers, a declining RSI (14) and a six-month-old ascending support line suggest only limited room for further decline. Key technical levels to watch The GBPUSD pair is currently supported by the 100-EMA around 1.2985 and an upward trend line near 1.2950, limiting immediate downside potential. If these levels break, the 50% Fibonacci retracement from April to September at 1.2865 could attract sellers, followed by the 61.8% retracement and August low at 1.2730 and 1.2665. On the upside, the 50-EMA and the 23.6% Fibonacci level around 1.3085 and 1.3165 will be crucial barriers. However, the key focus will be the horizontal resistance zone near 1.3230-40. If GBPUSD can hold above 1.3040, the next target could be around 1.3315-20, with the previous monthly high at 1.3435 acting as a potential stopping point. Bears approach key support zone GBPUSD is nearing important support levels as traders wait for comments from BoE’s Bailey, along with this week’s UK and US PMIs and Durable Goods Orders. With a more hawkish stance from the Fed compared to the BoE and concerns about the UK’s economic strength relative to the US, the pair is likely to maintain its downward trend, even if the downside potential seems limited.
by MTradingGlobal
Gold : Due for correctionGold prices hit another record high during US session, yet it paused its advance amid elevated US Treasury bond yields and a strong US Dollar (But gold ignored the DXY move completely in last week). On daily close as per price action we can see a gravestone doji which can open door for correction. So for today the plan is to sell under last day high , we can sell near CPR area(2722-2727) or wait for pullback to daily R1(2735) for possible sell opportunities, On lower side as you can see that price is currently in over elevated region and price did not tested the weekly pivot(2694) , so first we can expect a test at weekly pivot for this correction and then we have to watch how price going to react there .
OANDA:XAUUSDShort
by iambalramkashyap
USD/JPY is about to break through the 150.00 levelHello everyone, today let's update the USD/JPY pair with Alisa! USD/JPY is on the path to breaking through the 150 psychological level. Uncertainty surrounding the BoJ's policy and overall market optimism are supporting the USD. Although there have been comments about intervention by the Japanese government, geopolitical tensions and upcoming events may limit the JPY's downside. From a technical perspective, this pair is trading in a positive zone. However, if it fails to break through the resistance level of 149.58, USD/JPY may potentially decline towards the support level of 149.19. Conversely, if 149.19 can act as a springboard and help the pair break the resistance at 149.75, it could pave the way for the pair to target 150 and beyond. Investors should closely monitor BoJ policy news and geopolitical events to make informed investment decisions.
by Alisa_Rokosz
Gold Conquers New HeightsHello everyone! How is the gold price doing at the moment? Let's analyze it with Alisa! Global gold prices continue their impressive upward trend, with spot gold recording a gain of $2.3 compared to last weekend, reaching $2,723 per ounce. Last week witnessed one of the strongest and most sustained price increases for gold this year. Gold is showing an extremely positive technical outlook. With the moving average pointing upward and technical indicators supporting the bullish trend, gold is ready to conquer new heights. The $2,607 support level acts as a solid cushion, allowing gold to easily break through the $2,730 resistance and move toward the $2,800 target. So, what do you all think about today’s gold price? Will the upward momentum continue?
OANDA:XAUUSD
by Alisa_Rokosz
Bitcoin: BTCUSD bulls struggle amid overbought RSI, $70,100 eyedOn Monday morning, Bitcoin (BTCUSD) experienced slight losses after reaching a three-month high. This movement highlights overbought RSI conditions, indicating weak upside momentum beneath the horizontal resistance area established since early June. Buyers remain hopeful Despite overbought RSI conditions and facing key resistance, Bitcoin (BTCUSD) buyers remain optimistic. The pair is holding above last week’s breakout from a descending resistance line, which is now acting as support around $67,700. Additionally, bullish MACD signals suggest strong buyer momentum. Key technical levels to watch The horizontal resistance around $70,100 is a key barrier for Bitcoin bulls. They should also monitor the $70,000 threshold and recent highs near $72,000 as additional hurdles. If BTCUSD breaks through, the yearly peak near $73,800 and the $75,000 mark will attract buyers' attention. If Bitcoin (BTCUSD) breaks below the former support at around $67,700, it could trigger a short-term decline. Key levels to watch include the previous monthly high near $66,500 and the 200-SMA support around $63,300. If prices fall below $63,300, the next significant support is at $62,500. A move past that could lead to a drop towards the psychological level of $60,000 and potentially a monthly low of around $58,870. Upside potential remains intact Overall, Bitcoin (BTCUSD) buyers are likely to remain in control despite the challenges at key resistance. However, a price pullback is possible if the US Dollar strengthens from this week’s PMIs and Durable Goods Orders data.
BITSTAMP:BTCUSD
by MTradingGlobal
Advanced Rsi Divergence TradingRSI Divergence occurs when the Relative Strength Index indicator starts reversing before price does. A bearish divergence consists of an overbought RSI reading, followed by lower high on RSI. At the same time, price must make a higher high on the second peak, where the RSI is lower. If used correctly, RSI divergence can be profitable, providing early signals of trend reversals. However, it also carries risks, and traders should use it alongside other indicators and proper risk management strategies.
NSE:BANKNIFTYEducation
by SkyTradingZone
MACD TRADING / Technical AnalysisMoving average convergence/divergence (MACD) is a technical indicator to help investors identify entry points for buying or selling. The MACD line is calculated by subtracting the 26-period exponential moving average (EMA) from the 12-period EMA. The MACD indicator (or oscillator) is a very popular indicator among traders around the world for identifying trends and reversals. It was invented around 1977 by Gerald Appel, who was looking for a quality indicator that could immediately be interpreted.
NSE:BANKNIFTYEducation
by SkyTradingZone
Data Trading Part -1 It proves useful for assessing the depth and liquidity of specific strikes. It aids traders to find option premium against its corresponding maturity date and strike price. Option chain serves as a warning against breakouts or sharp moves in the index. How It Works: A long straddle options strategy involves simultaneously buying a call option and a put option on the same underlying asset with the same strike price and expiration date. This strategy becomes profitable when the stock significantly shifts in one direction or another.
NSE:BANKNIFTYEducation
by SkyTradingZone
DATABASE TRADING WITH OPTION CHAINOption chain data is the complete picture pertaining to option strikes of a particular stock or index in a single frame. In the Option chain frame, the strike price is at the center and all data pertaining to calls and puts on the same strike are presented next to each other. Traders use an options chain to choose the specific option contracts that best align with their trading strategy. They can select options with the desired strike prices and expiration dates based on their market outlook. Options chains are crucial for assessing and managing risk.
NSE:BANKNIFTYEducation
by SkyTradingZone
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