Get started

Forex

EURUSD Recovery: Challenging the 1.0946 Resistance EURUSD is currently in a mild recovery phase, trading around 1.0582 after hitting a recent low at 1.05140—a significant support zone. While the recovery is underway, the EMA 34 and EMA 89 above the current price act as dynamic resistance, limiting upward momentum. The nearest resistance at 1.0946 is a key target, but failure to break above this level may see EURUSD revisiting the support zone at 1.0514 or even dropping further. The USD remains strong due to expectations that the Fed will maintain high interest rates, while weak economic data from Europe continues to undermine the EUR's position. Traders should closely monitor economic reports from both the US and Europe this week, especially inflation data, as these will play a critical role in determining the pair's next direction.
by Vanna-Cris
USDJPY: Near Resistance 156.70, Consolidation Awaits DirectionUSDJPY is currently trading around 154.62, approaching the key resistance level of 156.70 after recovering from strong support at 152.24. The EMA 34 and EMA 89 lines are near the current price, acting as dynamic resistance and hindering further upward momentum. The RSI indicator is hovering at a neutral level of 48, indicating a consolidating market with no clear trend. If the price fails to break through the resistance at 156.70, it is likely to pull back to the support levels at 153.70 or even 152.24. The primary driver of USDJPY's trend is the strengthening USD, supported by expectations that the Fed will maintain high interest rates, along with easing signals from the Bank of Japan (BoJ). However, any significant economic data from the US, particularly inflation figures or statements from the Fed, could strongly influence price action this week.
Short
by Vanna-Cris
Gold Rebounds: Focus on 2,546 Support & Russia-Ukraine TensionsGold prices rose on Monday (November 18) after six consecutive losing sessions as the rally in the USD paused and escalating uncertainty over the Russia-Ukraine conflict spurred safe-haven demand. Currently, gold is recovering after successfully testing strong support at $2,546, where the long-term uptrend intersects with potential buying zones. This positive signal reflects strong buying momentum, pushing prices back towards $2,620, near the EMA 34 and EMA 89, key dynamic resistances. If prices break above the $2,620 level, the next target could be the resistance zone at $2,791, where significant selling pressure awaits. With the Russia-Ukraine tensions showing no signs of de-escalating, gold prices could climb even higher in the future. Traders should closely monitor developments in this situation.
OANDA:XAUUSDLong
by Vanna-Cris
Trend continuation or correction?Both EMA 34 and EMA 89 are sloping up, creating a strong uptrend support structure. This is a positive signal for buyers. The price is consolidating around the 154.50 - 155.00 area, close to the psychological resistance. The recent upward momentum is still maintained, but there are signs of slowing down. USD/JPY is still receiving support from US bond yields, as the 10-year yield remains high. This increases the strength of the USD. However, profit-taking pressure may occur if USD/JPY fails to break above the current resistance zone. Personal opinion: If the price breaks above 155.00, USD/JPY may extend its upward momentum, heading towards 156.00. However, if strong selling pressure appears, the price may adjust to the support zone of 154.00 - 153.50 before deciding on the trend.
by Maria_aaa
Recovery or Further Decline?The price zone of 1.06575 - 1.07100 (Fibonacci level 50%-61.8%) acts as strong resistance. This is also the area where the sellers are likely to increase pressure. Price action scenario: Currently, the price is in a recovery phase near the above resistance zone. If the sellers defend the 1.06575 zone well, the price will likely continue to decline sharply. Important support zone: The nearest support is at 1.04876, which coincides with the old bottom. If the price breaks this support, the next target will be the 1.02127 zone (Fibonacci extension level 1.618). Personal opinion: Wait for the price to return to the resistance zone of 1.06575 - 1.07100, look for a reversal signal here to enter a sell order. First target is 1.04876, further target at 1.02127. Stop loss above 1.07200 to avoid resistance break.
by Maria_aaa
Strong Recovery After Prolonged DowntrendGold prices have recovered strongly to $2,610/ounce in today's trading session, up $48 in just the past 24 hours. This move shows increased bottom-fishing demand after the precious metal fell a total of more than $120/ounce in the previous five trading sessions. Technical Analysis Looking at the gold price chart, the EMA 34 and EMA 89 still show a medium-term downtrend. However, the current strong bullish candle is challenging these dynamic resistance levels. If gold continues to surpass $2,620, the uptrend could extend to the resistance zone near $2,650. On the contrary, if it fails to stay above $2,600, the possibility of a reversal back to the support zone of $2,560 is quite high. Fundamentals Support Geopolitical situation: Escalating tensions in the Ukraine region with the participation of long-range weapons from the US and military moves from Russia and North Korea have boosted safe-haven demand for gold. Bullish forecast: A report from Goldman Sachs with a forecast of gold prices reaching $3,000/ounce by the end of 2025 is creating positive sentiment for the market. Bargain hunting demand: After a series of sharp declines, large financial institutions have started to increase purchases, pushing gold prices up rapidly. Review Based on the above factors, I expect gold prices to retest the important resistance zone at $2,650 in the short term. However, it is necessary to closely monitor the market's reaction at the $2,620 area. If the breakout fails, selling pressure may reappear.
OANDA:XAUUSD
by Maria_aaa
GBPUSDFX:GBPUSD Back to the liquidity test above after the free fall. The pair lacks bullish conviction amid a stable US dollar and as investors choose to wait for the Bank of England (BoE) Monetary Policy Report Hearing before placing strong bets. A clear bearish wave is forming on the larger timeframe, on the smaller timeframe the downtrend is formed based on negative fundamentals, which only strengthened after Trump's victory. Therefore, any strong resistance can easily hold the market. On H4, it is trying to break out of the main range, breaking the main support level. A consolidation is forming inside the channel, if sellers hold the 1.269 - 1.277 zone, we can expect a decline towards the areas of interest in the medium term. Resistance: 1.282 - 1.277 and 1.269 Support: 1.259 - 1.247 and 1.231 The focus is on the resistance level mentioned above, as the further struggle and movement of the market depends on this important zone at this point. The bearish structure will be broken when the local high at 1.282 i.e. (0.5 fib) is broken and the price consolidates above this zone.
Short
by Bo-Samson
Bullish momentum stalls amid resistanceUSD/JPY is currently trading around 154.57 after a strong rally. It seems that the bulls have run into pressure at the 155.00 resistance zone, while technical and market sentiment factors are also influencing the next direction of the pair. Technical analysis: Nearest resistance: 155.00 - a strong psychological resistance zone where the price is struggling to overcome. Nearest support: 154.00 - a key support level, if broken, the price could fall further to 153.00. EMA 34 and EMA 89: The price is trading around EMA 34 (short-term support), but is still above EMA 89, suggesting that the medium-term uptrend is still in place. Price pattern: There are signs of a pause, with the possibility of forming a "Pullback" pattern or a slight reversal before continuing the main trend. Personal opinion: I see the market facing a dilemma between buying and selling forces. The recent increase in USD is supported by high US bond yields and positive market sentiment. However, if it fails to break above the 155.00 zone, USD/JPY may correct slightly before looking for new momentum to continue rising. Trading strategy: Buy: When the price breaks above 155.00, the next target is 156.00. Sell: When the price falls below 154.00, the next support target is 153.00.
by Maria_aaa
Gold Trading Levels for 19th November 2024Gold Trading Levels (Based on 1-Hour Candle Chart): Buy Above: 2616 (Enter a buy position if the price breaks and sustains above this level on the 1-hour candle, signaling potential bullish momentum.) Sell Below: 2600 (Enter a sell position if the price drops and sustains below this level on the 1-hour candle, signaling potential bearish momentum.) Current Price: 2612.040 Key Levels to Watch: Resistance Zones: 2640 – 2644 2660 – 2667 Watch for potential price rejection or breakout at these levels. Support Levels: 2575 2550 2530 These levels may act as strong buying zones if the price drops significantly. Trading Tips: Book Profits Regularly: Lock in gains near resistance levels or key pivot zones to secure profits. Use Trailing Stop-Loss: Adjust your stop-loss as the price moves in your favor to protect profits while allowing the trend to continue. Disclaimer: The levels and analysis provided are based on technical indicators and the 1-hour candle chart. This is for educational and informational purposes only and should not be taken as financial or trading advice. Risk Management Guidelines: Always confirm price action (e.g., a breakout, breakdown, or reversal) at the listed resistance and support levels before making decisions. Use stop-loss orders and appropriate position sizing to manage risk. Monitor economic events or news that may impact gold prices. Risk Disclosure: Trading in commodities, including gold, involves significant financial risk and may not be suitable for all investors. Past performance is not indicative of future results. Consult a qualified financial advisor before making trading decisions.
OANDA:XAUUSD
by ramkkyy
Gold is under pullback : Read my last postAs expected gold is finally under a pullback wave and price opened with a gap , this gap is now going to act as good high volume support area(2560-70). At the time of writing this post price is facing resistance on weekly pivot(2595) and bulls need to re-claim this level on H4 to see higher levels , First resistance (Target in case of buy) that we have to watch is area at 2630-40(bearish Imbalance) and the final resistance zone as per fib is 2663-93 from where we can re load the sell for target 2530 area again. As of now I am expecting continuation in pullback (Bullish) and my first target will be 2630 and for sell I will wait confirmation on H4 or daily Time frame.
OANDA:XAUUSDLong
by TheGoldenCircle
ETHUSDT: Strong Growth Momentum, Ready to Hit New HighsBINANCE:ETHUSDT has surged from the $3,015 support zone and is currently trading around $3,148. The rally is supported by a solid price structure and positive technical factors. While many other cryptocurrencies are still struggling in the accumulation zone, Ethereum has proven its position by attracting strong inflows from both institutional and retail investors. If ETH breaks the current resistance, the rally could continue and help the price reach new historical levels. However, investors need to closely monitor macroeconomic fluctuations to optimize their trading strategies.
Long
by JerrytradingCR
Bitcoin -->Continues to GrowBINANCE:BTCUSDT reached $91,433, up $899 (0.99%) from the previous session. During the trading session, the highest price recorded was $92,654 and the lowest was $89,240. This growth was driven by factors such as the US Federal Reserve (Fed) keeping interest rates unchanged and the increasingly widespread acceptance of Bitcoin in financial transactions. In addition, geopolitical tensions in Europe also caused investors to seek Bitcoin as a safe haven asset. Experts predict that if this trend continues, Bitcoin could surpass the $100,000 mark in the near future.
Long
by JerrytradingCR
Signs of Recovery or Resistance Ahead?Currently, GBP/USD is trading around 1.26857, indicating a slight recovery after the previous extended bearish phase. The British pound is showing more positive signs, however, the pressure from the EMA 89 resistance has not been completely broken. The GBP/USD pair remains in an overall downtrend, confirmed by lower highs and lows. The EMA 34 and EMA 89 continue to slope down, indicating that selling pressure is still dominant. Resistance and support: Nearest resistance: The area around 1.2700-1.2720, which coincides with the EMA 89. This is an important zone that needs to be broken to confirm a short-term reversal. Key support: The 1.2600 area, where the pair has found buying pressure in recent sessions. If this zone is broken, GBP/USD could fall further to 1.2540. Personal view: I expect GBP/USD to continue its slight recovery in the short term to test the resistance zone of 1.2700-1.2720. If it fails to break, the price will reverse and retest the support at 1.2600. However, if there is a strong news factor supporting the pound, the pair could break above the 89 EMA and open the door for further gains.
by Maria_aaa
Recovery Trap or Breakout Opportunity?On the EUR/USD 4-hour chart, the bearish bias remains dominant. The pair is attempting to recover from the recent low at 1.0540, however, the important resistance zone around the 34-EMA (1.0600) is holding back the upside momentum. If EUR/USD fails to overcome the resistance zone of 1.0600 - 1.0620 in the coming sessions, selling pressure will return strongly, pushing the price towards the support zone of 1.0550 and even 1.0500. On the contrary, a clear breakout above 1.0620 could open the door to a test of the 1.0650 zone, however, the upside outlook remains challenging amid the long-term downtrend. Trading Strategy: Short: When price fails to break above 1.0600, place a sell order with target at 1.0550 and further at 1.0500. Long: Consider buying if price breaks above 1.0620 with high volume, target at 1.0650.
by Maria_aaa
EURUSD: Consolidation Under Strong USD PressureEURUSD is currently in a consolidation phase, trading around 1.0555, with a descending triangle pattern dominating the short-term trend. The EMA 34 and EMA 89 lines above the current price act as dynamic resistance levels, increasing selling pressure. The critical support level at 1.0523 has been tested multiple times and remains a key threshold preventing a deeper decline. Meanwhile, the nearest resistance level is at 1.0570, and if the price breaks above this level, EURUSD could experience a short-term recovery targeting higher levels. However, if the descending trendline is not breached, the price may revisit the support area at 1.0523. The overall trend remains pressured by a strong USD, driven by expectations that the Fed will maintain high interest rates, while weak economic data from Europe continues to weigh on the EUR. Investors should closely monitor U.S. economic reports this week, particularly employment data and Fed statements, as these will be key factors in determining the next direction for this currency pair.
by Vanna-Cris
XAUUSD Recovery: Testing Resistance at 2,620Currently, XAUUSD is attempting a recovery after hitting the key support level at 2,530 USD. This support zone has shown significant buying interest, pushing prices up from the recent low. However, the overall trend remains bearish, influenced by the EMA 34 and EMA 89 lines above, acting as dynamic resistance. The price is now trading around 2,583 USD and is likely to test the nearest resistance zone at 2,620 USD. If this resistance is breached, the recovery trend could extend further, aiming for higher levels. Gold remains under pressure from a strong USD, driven by expectations that the Fed will maintain high interest rates. However, investors should pay close attention to this week’s U.S. economic data releases, including employment and inflation figures, as they could significantly impact USD strength and gold’s next direction.
OANDA:XAUUSDLong
by Vanna-Cris
Gold in Bears' ControlI am watching the recovery in gold, currently trading around $2,586/oz. With the USD rising sharply after President-elect Donald Trump's victory and expectations of higher inflation, the Fed is likely to maintain high interest rates. This is creating significant pressure, making it difficult for gold to continue to break above the 34-EMA and 89-EMA. In addition, comments from Fed Chairman Jerome Powell about not being in a hurry to cut interest rates further reinforced the USD's bullish momentum and reduced the appeal of gold. However, geopolitical tensions in the Middle East and between Ukraine and Russia remain a slight support factor for the precious metal's safe-haven status. Personal view Key resistance: $2,600–$2,625, which the price needs to break above to generate upside momentum. Potential support: $2,550, which is an important area I will wait to test. If the price fails to surpass $2,600, I believe there is a high possibility of a further decline to $2,550, consistent with the current market scenario. I will prioritize a short-term selling strategy in the resistance zone.
OANDA:XAUUSD
by Maria_aaa
Bitcoin Analysis and Trading Levels for 19th November 2024Bitcoin has been consolidating in the range of 85,100 to 93,500 for the last seven trading sessions. A breakout on either side could lead to a potential move of 7,000 to 10,000 points. Trading Levels (1-Hour Candle): Buy Above: 92,700 (Enter a buy position if the 1-hour candle closes above this level, confirming a bullish breakout.) Sell Below: 88,700 (Enter a sell position if the 1-hour candle closes below this level, confirming a bearish breakout.) Key Support and Resistance Levels: Resistance Levels: 93,500 (Immediate resistance and upper boundary of the consolidation range.) 95,000 – 96,200 (Potential upside target zone post-breakout.) 100,000 (Psychological level and extended bullish target.) Support Levels: 89,000 (Intermediate support near the sell trigger.) 85,100 (Lower boundary of the consolidation range.) 82,000 – 81,000 (Extended downside target post-breakdown.) Potential Move on Breakout (1-Hour Candle): Upside: A sustained breakout above 93,500 could lead to a move toward 100,000. Downside: A breakdown below 85,100 could trigger a fall toward 81,000 or lower. Trading Tips: Wait for Confirmation: Ensure that the 1-hour candle closes firmly above or below the breakout levels before initiating trades. Book Profits Regularly: Secure profits at key resistance or support levels to manage risk. Use Trailing Stop-Loss: Adjust your stop-loss as the trade progresses to protect profits while following the trend. Monitor Volumes: A breakout with high trading volume often confirms the validity of the move. Disclaimer: The trading levels and analysis are based on technical indicators and the 1-hour candle chart. This information is provided for educational and informational purposes only and does not constitute financial or trading advice. Risk Management Guidelines: Always use appropriate risk management techniques, such as stop-loss orders and position sizing. Cryptocurrency markets are highly volatile. Be prepared for rapid price fluctuations. Stay updated with relevant news and macroeconomic factors affecting Bitcoin. Risk Disclosure: Trading cryptocurrencies carries a significant risk of financial loss and may not be suitable for all investors. Past performance is not indicative of future results. Always consult a licensed financial advisor for personalized advice and trade only with funds you can afford to lose.
BITSTAMP:BTCUSD
by ramkkyy
Gold Trading Strategy for 18th November 2024GOLD TRADING STRATEGY Buy Above: $2575 If the gold price closes above $2575 on a one-hour timeframe, it may indicate a bullish trend. Consider buying at this level with appropriate risk management strategies. Sell Below: $2554 If the gold price closes below $2554 on a one-hour timeframe, it may signal a bearish trend. Consider selling at this level with appropriate risk controls. Current Price: $2563.220 This strategy is based on key technical levels and requires confirmation of a one-hour closing price above or below the thresholds. Traders are advised to use stop-loss orders and position-sizing techniques to mitigate risks. Disclaimer: This content is for educational and informational purposes only and should not be construed as financial or investment advice. Trading in commodities, including gold, involves substantial risk of loss and is not suitable for all investors. Market conditions can be volatile and unpredictable, influenced by various factors such as economic data, geopolitical events, and global market sentiment. The price levels mentioned are illustrative and subject to change based on market dynamics. Before making any trading decisions, you should perform thorough research or consult with a licensed financial advisor. You are solely responsible for any trading or investment decisions you make, and neither the author nor the publisher of this information shall be held liable for any losses incurred. Always trade with capital you can afford to lose and ensure your trading practices align with your risk tolerance and financial objectives. Past performance is not indicative of future results.
OANDA:XAUUSD
by ramkkyy
EURUSD continues to extend sharp decline from 1.0600Dear Traders... Let's discuss and strategize with Samson today! Overall, after updating the low around 1.0497, the price recovered around 0.08% on the day. However, EUR/USD remained on the defensive near 1.0550 during the European session on Monday. The pair remained weak as geopolitical risks between Russia and Ukraine resurfaced although the US Dollar limited its gains. The divergent policy outlook of the ECB-Fed also weighed on the pair ahead of the central bank talks. Today, there will be no high-impact data that could influence the action of EUR/USD. Therefore, market participants will pay close attention to comments from central bank officials. Technically, price resistance at 1.0550 - 1.0660 and resistance at 1.0663 should be watched. A false breakout and consolidation below these areas could trigger a decline. Currently, Euro is hinting that the pullback could be a bit longer. MMs are likely to look for liquidity (above these levels) ahead of the news. A false breakout could trigger sellers to act, which would only add to the selling pressure. However, a mild recovery from 1.0550 and back to 1.0497 would increase the likelihood of a breakdown and decline.
Short
by Bo-Samson