DXY: The trend I predict todayLast week, the DXY Index fell below the 106 mark, then continued to fall to the 105.50-105 range. In the short term, the risk of a trend reversal will only appear if the DXY index slips below 105. The decline is driven by the Fed's dovish stance and that will likely cause the greenback to decline. at least for a short while.
Signalsfree
DXY formed a downtrendThe DXY chart on the 1D frame formed a bullish leaf, but yesterday DXY had a false breakout, so it is likely that today DXY will tend to decrease, tomorrow there will be news of Non-Farm Employment Change, if the news is bad, DXY may dropped to 104.28, on the 1D chart stochastic is in the overbought area and is trending down, RSI is also trending down. On the H4 chart, stochastic is falling very strongly and so is RSI, so it is likely that DXY today will fall in the range of 106.12 - 105.68 and 105.68 also coincides with the 200 EMA, tomorrow there is news that DXY may fall to 104.28.
Technical analysis and news for today's gold trading strategyOn the 1D chart, gold has formed a doji candle, and the FED still maintains the interest rate at 5.50%. In yesterday's press conference, Mr. Powell continued to bring inflation down to 2%, and when the FED has not brought inflation down to 2-2.5%, they still did not reduce interest rates. Mr. Powell emphasized that short-term monetary policy The regime currently in place will continue until inflation and other data dissuade the Fed from maintaining the current interest rate, at which point they will begin to think about reducing interest rates, he also said that the restrictive policies The currency has not yet brought inflation down to 2%. The SPDR fund started buying in small quantities. According to technical analysis, gold is likely to increase and the immediate target is that gold will break the EMA 20, then gold can go up to retest the price increase channel. Currently, daily Stochastic is falling, the histogram has also shown signs of decreasing, RSI has also left the overbought area and is at 64. On the H4 frame, stochastic is in the oversold area and is trending up. Histogram has begun to grow negative. On the H1 chart, the histogram is growing negative and the stochastic is pointing up, showing that it is recovering, showing that gold today will sideway from about 1985-1975 and 1975-1991.
Gold is trending down after a recovery periodToday we will have very important USD news: ISM Manufacturing PMI, JOLTS Job Openings, ISM Manufacturing Prices and in the early morning of November 2 there will be 3 more news: Federal Funds Rate, FOMC Statement, FOMC Press Conference but This news is likely to have a big impact on gold, so we need to pay attention to orders when the news comes out
According to technical analysis, October is a month of strong growth for gold. On the monthly chart, histogram and stochastic have a divergence, RSI does not see a divergence.
Yesterday gold broke through the upward price channel so our trend will be to sell and the H1 stochastic frame is already in the oversold area so it is likely that gold will have a rebound to 1990, the price range from 1990-1992 we can sell stochastic The H4 frame still tends to go down, so the possibility of gold decreasing is very large
GOLD 03/7 - 7/7: Expected bullish recoveryIn the past week, central banks have indicated their intention to tighten monetary policy, leading to a drop in gold prices below $1900.
Despite the possibility of an interest rate hike and a decrease in demand for physical gold, the US economy has shown signs of solid recovery with positive GDP growth in Q1 and continued consumer demand driving GDP growth.
From a technical standpoint, last Friday's retracement suggests a possible rebound in gold prices, offering hope for a recovery.
For this week, I plan to place short-term Buy orders. To start, I will wait for the price zone between $1915 and $1912 to be retested. Once that happens, I will make a purchase with a target of $1930 and $1940 for this week.
Additionally, if the market reacts at these levels, I will also consider setting up Scalp orders at $1930 and $1940.
EURUSD Technical Analysis
Welcome back Traders, Investors, and Community!
Here on EURUSD the price has formed a Reverse Head & Shoulders, which is suggesting the bullish trend if it breaks out of the Neckline and shows us a potential entry after the breakout. However the price might go lower to 1.1868 for the Pullback before it goes up.
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XAUUSD Technical Analysis
Gold is in strong downtrend and can clearly see more big red candles than the green ones which suggests the price has tendency to go lower. We already had a Pullback at 1795.36 and the second Pullback might happen again which would make a double top at 1795.36, but if it doesn't happen we expect the price to go lower to at least 1743.16
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DOGEUSDT Technical Analysis
Very clear downtrend on the 1 hour time frame. After the price broke below the Support and got out of the Triangle with a long big red candle it's expected to go lower to 0.25 and even lower to 0.225. there might be a pullback which might happen at the Resistance line of the triangle. but most likely it will go lower.
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XRPUSDT Technical Analysis
So here on XRPUSDT the price has formed a descending Triangle at the Support zone and has got 3 rejections. It is expected that the prices breaks above the Resistance line and goes higher up to 1.04
If the breakout happened at the lower time frame we need to see the candlestick patterns and if we see a Bullish pattern we can go long.
However if it breaks below the Support then after a Pullback it's expected to go lower down to 0.532
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BTCUSDT Technical Analysis
Here on the 1 hour time frame we see that BTC is in a Bullish channel and has got 3 rejections from the Support line. On the other hand the price is right at the previous Resistance turned into Support which is suggesting the price might go higher from this level. If the Pullback happens it must be around 37978.0
TP1 @ 39690.0
TP2 @ 41078.0
TP3 @ 43748.6
SL @ 37365.0
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GBPUSD and NZDCHF and EURUSD Technical Analysis
Here on GBPUSD we have been in a Bullish channel and inside this channel it has formed a Bullish Flag. As we see on the chart the price has got rejection from two support lines of the Bullish channel and the Flag and also a very strong Support area.
Buy now or Buy at 1.40767
SL @ 1.39890
TP1 @ 1.41820
TP2 @ 1.42430
TP3 @ 1.43389
here on NZDCHF on the bigger picture we see a Bullish Flag and it seems that if we get a break above the short term Resistance within the Flag the price will move higher to touch the upper band of the Flag.
Here on EURUSD we also see a Bullish Flag, The price is near the Support area and the Support line of the Flag. It seems that the price can't get a way from it. If we see a good long entry in the lower time frame we can go long, however if the price ranges at this area the probability of the breaking below the Support increases.
BTCUSDT and XRPUSDT Technical AnalysisBTCUSDT has already broken two major Resistances on the 4H and 1D . After 4 rejections at the Resistance on the 4H finally it broke above it and has been going up since then. The candles pattern also is showing a pure uptrend for the last 6 days on the Daily time frame .
On the 4H time frame the price has formed a Triangle. We might have a shallow Pullback after the price getting out of the Triangle but what I expect is to go higher to hit 43031.0
Buy now or Buy at 37339.1
SL @ 34119.0
TP1 @ 43031.0
TP2 @ 47578.0
TP3 @ 51555.2
XRPUSDT also has formed a Triangle on 4H and daily time frames. We need to wait until it gets out of the Triangle and then based on the Candlestick patterns on the lower time frames look for any potential entry in the direction of the market.
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MATICUSDT Technical Analysis
Happy Monday guys, I'm here with another Signal
MATICUSDT has broken above a major Resistance and now it's ranging. because of the big Green candle I think it's gonna go higher how ever it might Pullback to 1.3 before it rises. So we need be cautious to see the price action.
Buy now or Buy at 1.300
SL @ 1.23
TP1 @ 1.5
TP2 @ 1.67
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XLMUSDT Technical AnalysisXLMUSDT has formed a Falling Wedge with 4 rejection at the Resistance and 3 Rejection at the Support. Meanwhile we see a Divergence in RSI which indicates a potential uptrend. There might be the 5th Rejection at the Resistance also or it might just break above the Resistance and goes higher. If we get the 5th Rejection at the Resistance then a Pullback to 0.283 is expected before the price goes higher to at least 0.352. In either cases we need to see the lower time frame before we enter any trade. If we get the confirmation at the lower time frames it would be safe to enter.
Buy at Resistance Breakout or Buy at 0.283
SL @ 0.26
TP1 @ 0.352
TP2 @ 0.434
TP3 @ 0.53
Happy Trading :)