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Harmonic Patterns

XAUUSD 1H BUY PROJECTION Reason for Bullish Interest Rate Cuts and Economic Indicators Two Federal Reserve policymakers voiced their opinion on Tuesday, stating it would be “reasonable” to expect three interest rate cuts in the U.S. within the year. This perspective comes despite a backdrop of robust economic indicators, which have led some investors to question the feasibility of such moves. The anticipation of interest rate adjustments is a critical factor influencing financial markets and investment strategies. Surge in Gold Prices The price of gold has surged over 10% since the start of the year, cementing its status as a preferred hedge against inflation and a sanctuary amid political and economic uncertainty. This significant uptick is largely due to considerable purchases by central banks and a rising demand for safe-haven assets. Gold and Silver Prices Today As of April 5th, 2024, the precious metals market has observed noteworthy movements. Gold prices have reached new highs, driven by global trends and market dynamics, reflecting the continuous appeal of gold as an investment. U.S. Economic Outlook Recent data indicates a slowdown in the growth of the U.S. services industry for March, with a concurrent reduction in the prices businesses pay for inputs, hitting a four-year low. These developments suggest a potentially favorable outlook for inflation, influencing investment decisions and monetary policy.
FOREXCOM:XAUUSDLong
by kripsonfx97
XAUUSD 1H SELL PROJECTION 10.09.24Reason for Bearish Gold prices have continued to hit fresh highs in 2024 due to a wide range of factors — from escalating geopolitical risks and the interest rate outlook to budget deficit concerns, inflation hedging and central bank buying. Gold’s blistering rally this year was partly fueled by expectations the Federal Reserve (Fed) would cut interest rates as many as three times in 2024, as stubborn inflation started to ease. But current projections suggest only one rate cut is penciled in for the remainder of 2024. Traditionally, a weaker U.S. dollar and lower U.S. interest rates increase the appeal of non-yielding bullion. But a significant decoupling started to emerge in early 2022 and gold’s relationship with U.S. real yields has broken down even further this year. “Gold’s resurgence has come earlier than expected, as it further decouples from real yields. We have been structurally bullish gold since the fourth quarter of 2022 and with gold prices surging past $2,400 in April, the rally has come earlier and has been much sharper than expected. It has been especially surprising given that it has coincided with Fed rate cuts being priced out and U.S. real yields moving higher due to stronger labor and inflation data in the U.S,” said Gregory Shearer, Head of Base and Precious Metals Strategy at J.P. Morgan.
PEPPERSTONE:XAUUSDShort
by kripsonfx97
#Nifty directions and levels for September 10th.Good morning, friends! 🌞 Here are the market directions and levels for September 10th. Market Overview: Global markets are showing a moderately bearish trend, as indicated by the Dow Jones, and our local market reflects a similar sentiment. However, today, the market may open with a gap-up, as SGX Nifty is indicating a positive move of around +45 points at 8 AM. Nifty and Bank Nifty are showing slightly different. Bank Nifty had a strong pullback in the previous session, but Nifty did not. Typically, when the market breaks the 38% Fibonacci level after a sharp decline, it suggests a range-bound market. So, today might see some consolidation, which we can track on the charts. Nifty: Current View: > If the market sustains the gap-up, we can expect the next target to be the 61% Fibonacci level on the upside. After that, if it consolidates there or breaks it then the rally will likely continue. > On the other hand, if it rejects this level, the market might close near today’s opening level. Alternate View: > Alternatively, if the gap-up doesn’t sustain or if the market rejects around the 50% resistance level, it may retrace to a minimum of 38% in the minor swing. However, the correction will only continue if it breaks the 38% Fibonacci level. If that happens, we can expect the next corrective target to be 50% and 78% in the minor swing. > on the other hand, If the rejection doesn’t break the 38% Fibonacci level, the market may consolidate between the previous high and the 38% Fibonacci level. > In this case, if it breaks the previous high after consolidation, we can follow the pullback.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for September 10th.Current View: > Bank Nifty is also showing an unclear trend. If the market opens with a gap-up, it might reach the 78% Fibonacci level. If it consolidates or breaks above this level, the rally may continue further. > on the other hand, If the market rejects the 78% level, it could retrace min of 38% Fibonacci level in the minor swing. Alternate View: > Alternatively, if the gap-up doesn’t sustain or if the market rejects around the immediate resistance level, it may retrace to a minimum of 38% in the minor swing. However, the correction will only continue if it breaks the 38% Fibonacci level. If that happens, we can expect the next corrective target to be 50% and 78% in the minor swing.
NSE:BANKNIFTY
by Manickamtraders
EURAUD View!!Option trade flows had seen strong demand and premium gains for sub 1-month expiry 1.1200-1.1300 strikes, which allow holders to buy EUR/USD at those levels if better than the spot price at expiry. Those options are being pared. Risk reversals are an option volatility trade that benefit from increased FX volatility in a particular direction. The benchmark 1-month expiry 25 delta contract had posted new 4-year highs for EUR calls over puts at 0.4 amid the late August spot highs (EUR/USD topside over downside strikes), before quickly reverting to 0.1 EUR puts over calls (downside strikes). The contract had recovered a 0.2 topside strike premium on Friday, before slipping to 0.1 EUR calls thereafter.
Long
by FXBANkthe8055
LVMH: Bullish: Butterfly detected.LVMH: Bullish: Butterfly detected. The price could go down to the PRZ zone indicated on the right chart: 512 to start, then 388 if the Double top plays its role. This will therefore be a very interesting entry point for investors. Below: Some information about LVMH. LVMH (Louis Vuitton Moët Hennessy) is today the world leader in luxury and one of the largest French companies. Here’s a look at where LVMH stands today: Recent Financial Performance LVMH recently announced its third-quarter 2023 results, which missed analysts’ expectations This announcement caused a significant drop in the stock price, which is down more than 20% from its record highs Market Position Despite these mixed results, LVMH remains the world’s largest luxury company, with a portfolio of iconic brands including Louis Vuitton, Dior, Givenchy, Kenzo, Moët & Chandon and many others Structure and Values LVMH is a family-owned group founded in 1987. Its primary mission is to ensure the long-term development of each of its houses, while preserving their identity and autonomy. The group emphasizes creativity, innovation and excellence in all its products and services. Corporate Strategy LVMH's strategy is based on the vertical integration of its value chain, from raw material sourcing to selective distribution. This approach aims to ensure the excellence and sustainability of its products. Social and Environmental Responsibility LVMH is increasingly committed to ethical, social and environmental initiatives. The group places emphasis on adopting and promoting honest behavior in all its actions and relationships. Future Outlook Despite recent challenges, LVMH remains a solid company with long-term growth potential. , like any company in the luxury sector, it is sensitive to global economic fluctuations and changes in consumer habits.
EURONEXT:MC
by Le-Loup-de-Zurich
XAUUSD 15M ASCENDING TRIANGLE BUY PROJECTION 09.09.24Reason for Bullish Key Takeaways The trendlines of a triangle need to run along at least two swing highs and two swing lows. Ascending triangles are considered a continuation pattern, as the price will typically break out of the triangle in the price direction prevailing before the triangle, although this won't always occur. A breakout in any direction is noteworthy. A long trade is taken if the price breaks above the top of the pattern. A short trade is taken if the price breaks below the lower trendline. A stop loss is typically placed just outside the pattern on the opposite side from the breakout. A profit target is calculated by taking the height of the triangle, at its thickest point, and adding or subtracting that to/from the breakout point.
FX:XAUUSDLong
by kripsonfx97
EURUSD 1.1032: Resistance at 1.1300, Pressure from ECB & FEDEURUSD is currently fluctuating around the support level of 1.10320, where it has bounced several times. If this level holds, the price could rise towards the resistance level of 1.1300. The RSI is at 39.81, indicating strong selling pressure, but potential buying interest may emerge at this support. The short-term downtrend remains intact as the price is below both the EMA 34 and EMA 89. In terms of news, the ECB is expected to adjust its monetary policy this week to tackle high inflation in the Eurozone. Meanwhile, the USD is strengthening due to expectations that the FED will continue its tight monetary stance. These factors from the ECB and FED will significantly impact EURUSD’s next moves.
Long
by Romio_pro
EURUSD Awaits Nonfarm, Potential for Price IncreaseNonfarm Payrolls data and U.S. labor statistics have a strong impact on the USD and EURUSD trend. If the data is unfavorable, EURUSD may see a price increase. On the chart, EURUSD is fluctuating around 1.11077 after reaching resistance near 1.11500. The EMA 34 and EMA 89 are supporting the short-term upward trend, indicating that the price may continue to rise after the current adjustment. EURUSD could make a slight correction to 1.10760 before rising again. If support holds and economic news is favorable, the next target is 1.11389.
Long
by Romio_pro
1
GBPUSD: Resistance at 1.32225, Strong Support at 1.30969The chart shows GBPUSD facing strong resistance at 1.32225, tested multiple times but not yet broken, as indicated by the red arrows. Both EMA 34 and EMA 89 confirm that the long-term uptrend remains intact, despite the price temporarily correcting towards the support zone. The two key support levels are Support 1 at 1.30969 and Support 2 at 1.31182, with price responding well, showing strong buying pressure. GBPUSD is likely to fluctuate within the range of 1.3050 - 1.3250 before a clearer trend emerges. If it breaks above the 1.32225 resistance, the pair could continue to rise. The slight decrease in the UK's GDP may put short-term pressure on the GBP. However, the Bank of England (BoE) potentially raising interest rates adds uncertainty and volatility to the GBPUSD pair.
Long
by Romio_pro
EURUSD Faces Resistance, Downtrend ContinuesThe price is fluctuating around the EMA lines, with the EMA 34 above the EMA 89, signaling a short-term recovery but not strong enough to break the main downtrend. A strong support level at 1.10300 has previously caused the price to bounce back. This is also the level that may be revisited if the downtrend continues. The 1.1158 zone is a strong resistance. If the price fails to break through this area, the downtrend is likely to persist. The RSI is at a neutral level, near 50, indicating that the market is balanced, with no signs of being overbought or oversold. EURUSD could continue to decline towards the support level before retesting the resistance. If it fails to break the resistance, the downtrend may continue in the near future.
Short
by Romio_pro
1
USDJPY Tests 143 USD Resistance, Sell Opportunity AheadThe market is influenced by the monetary policies of the Bank of Japan and the Fed, along with U.S. interest rate updates and global economic conditions, continuing to cause volatility for this currency pair. On the 4-hour USDJPY chart, the price is trending downwards, moving below both the EMA and SMA 20, signaling strong selling pressure. The resistance near 143 USD has been tested several times but remains unbroken, indicating strong selling forces at this level. If the price fails to break the 143 USD resistance, USDJPY is likely to continue its downward movement, heading toward the 140 USD level. This could present a potential selling opportunity if the downtrend persists.
Short
by Romio_pro
#Nifty directions and levels for September 9th.Good morning, friends! 🌞 Here are the market directions and levels for September 9th. Market Overview: Global markets are showing a bearish trend, as indicated by the Dow Jones, and our local market reflects a similar sentiment. However, today, the market may open with a gap down, as SGX Nifty is indicating a negative move of around -80 points. Both Nifty and Bank Nifty experienced a solid correction in the previous session. Structurally, we can expect today's movement to shift from correction to consolidation, and we can check the charts to see how this is likely to unfold since both Nifty and Bank Nifty are showing the same sentiment. Nifty: Current View: Gift Nifty is indicating a negative start, but when we look at the wave structure, we can see a 5th sub-wave within the 3rd wave (minor swing). Structurally, further long correction seems less probable, so if the market faces rejection around the immediate support level, we may see a bounce back of 23% to 38% in the minor swing. According to the wave structure, this bounce back could be the 4th wave. This is our first scenario. Alternate View: If the correction doesn't result in a pullback or if the market breaks the immediate support level decisively, the 3rd wave could extend further to levels between 24,717 and 24,672. > In this case, we should focus on the structure, as the 5th wave is a distribution wave. If the market breaks the support level with a solid candle or consolidates around it, the correction will likely continue further. However, if the market approaches the support level gradually, it may not fall significantly.
NSE:NIFTY
by Manickamtraders