Gold stays on the bear’s radar as it reverses the previous weekly gains, the first in five, ahead of the all-important US employment report for February. It’s worth noting, however, that the 200-EMA level surrounding $1,805 puts a floor under the metal price, a break of which could set the ball rolling towards the 50% Fibonacci retracement of November 2022 to...
GBPUSD holds a confirmed place in the bear’s radar after breaking an important support line from mid-November, as well as the 200-DMA, as traders await the UK data dump and the US jobs report. That said, a daily closing below the 50% Fibonacci retracement level of the Cable pair’s upside from November 2022 to January 2023, near 1.1795, becomes necessary to witness...
USDJPY marked the first weekly loss in three as the key Bank of Japan (BoJ) Monetary Policy Meeting and the US Nonfarm Payrolls (NFP) looms. The Yen pair’s latest retreat could be cited as a failure to cross the 200 and 100-DMA. Adding strength to the pullback move could be the overbought RSI (14). However, the bullish MACD signals and a three-day-old ascending...
USDCAD holds onto the late December downside break of the seven-week-old ascending support line, even if the 200-SMA challenges the bears. That said, the downbeat MACD and RSI conditions also favor the Loonie pair sellers as they attack the key SMA surrounding 1.3520. Additionally challenging the bears is the double bottoms marked around 1.3485-80 during the last...
Gold prices brace for the biggest weekly jump in three as it stays around the highest levels since mid-August. However, the metal still has some strong resistance ahead before offering a free ride to the bulls. Among them, a 5.5-month-old horizontal resistance area surrounding $1,805 gain major attention as RSI (14) approaches the overbought territory. Should the...
USDCAD crossed a one-week-old resistance the previous day but stayed on the way to the first monthly loss in three inside a fortnight-long bearish channel. That said, the 100-SMA level surrounding 1.3725 acts as an immediate hurdle to test the pair buyers before directing them to the stated channel’s upper line, close to 1.3745 at the latest. Following that, there...
Gold retreats towards $1,710 while fading the upside break of a seven-month-old resistance. In doing so, the yellow metal stays inside the bearish trend channel connecting levels marked since late April. That said, the latest pullback remains elusive until the quote remains beyond the aforementioned previous resistance line, around $1,685 at the latest. Following...
NFP or Non Farm Payrolls is one of the most important economic reports that forex, commodity, and stock traders follow because it can act as an indicator for health of the US economy.
The NFP reports on the number of jobs added to the US economy in the previous month excluding those employed by farms, the federal government, non-profit organizations and private...
EURUSD defends the first weekly gain in three around the 20-year low during early Monday. The recovery also gains support from the RSI and the MACD. However, an downward sloping resistance line from September 12, around 0.9830 by the press time, challenges the immediate upside moves. In a case where the quote rises past 0.9830, the 200-SMA and the 61.8% Fibonacci...
Gold flirts with the $1,700 threshold as it approaches the yearly bottom ahead of the key US Nonfarm Payrolls (NFP) data. The yellow metal’s latest fall justifies bearish MACD signals. However, the RSI nears the oversold territory, which in turn suggests limited downside room. Hence, even if the quote breaks the yearly low of $1,680, the further declines could be...
I am sell on BTCUSD Looking 1:5 swing entry possible reversal and divergence respected with trendline risking 2% on trade . .. hope its hit my target. ENTRY : 24732...
TARGET : 23753... STOPLOSS : 24933.. thanks...
Be it an ascending triangle or a pullback from 200-SMA, EURUSD bears flex muscles as markets await the US Nonfarm Payrolls (NFP) for July. That said, the bearish triangle confirmation looms on the clear downside break of 1.0160, which in turn could direct the pair towards the yearly low near 0.9950. However, the 1.0090 and the 1.0000 parity level could offer...
Be it a weekly ascending trend channel of the bull cross, AUDUSD flashes upside signals ahead of the key monetary policy meeting of the Reserve Bank of Australia (RBA). That said, the bulls may retreat from the upper line of the stated channel, around 0.7040 by the press time. Even if the quote rises past 0.7040, the mid-June swing high near 0.7070 could challenge...
Gold remains inside a four-month-old descending trend channel despite a recent corrective bounce off the yearly low, mainly due to the oversold RSI. The recovery moves, however, failed to cross the 78.6% Fibonacci retracement of the metal’s upward trajectory from August 2021 to March 2022, near $1,755. In addition to the $1,755 hurdle, a horizontal area comprising...
Gold prices seesaw around the monthly top after crossing a five-week-old resistance line, as well as a weekly hurdle. The recently bullish MACD signals and firmer RSI also favor the buyers as they attack the 200-SMA level surrounding $1,872, the last defense for bears. Should the US Nonfarm Payrolls (NFP) manage to propel the quote beyond $1,872, an upward...
EURUSD fades three-week-old recovery as it remains below a downward sloping trend line from early February, around 1.0745 by the press time. Also keeping sellers hopeful is the RSI retreat and a downside break of the 1.0690 support-turned-resistance confluence, comprising an ascending support line from May 13 and 10-DMA. That said, the bears seem approaching 23.6%...
Despite reversing the post-Fed rally, gold prices remain beyond a three-day-old ascending support line, around $1,870 by the press time, ahead of the US Nonfarm Payrolls (NFP) release on Friday. In addition to the capacity to stay beyond immediate support, firmer RSI and bullish MACD signals also keep buyers hopeful as markets brace for the key data. That said,...
Setup Contents:
1. Buy Side Liquidity Purged
2. Bearish OrderFlow
3. Internal & Major Structural Break
4. Return To OrderBlock (Expecting)
We'll be looking for GOLD to come back to
the OrderBlock area and give us enough confirmation and LTF Setup for Entry.
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