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DJ FXCM Index

USDMXN - Ready to Blast Again ? Last week, I took long position in UDMXN at 16.66000 & Closed at 16.92500 Closed that position in more that $5000 profit in just 2-3 days. My long setup is formed again in USDMXN Taking long positions here at CMP 16.67000 My SL would be 16.62000 Target I'm expecting is 17.00000 Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
Long
by akshit_official
Wondering where the Dollar is headed next? He're is a hint. Analysis A five wave decline from 107.34, the high on Oct 03, 2023 to 100.62, the low on Dec 28, 2023. In Elliott terms, this impulse structure tells us that the movement at the next larger degree of trend is also downwards. Within this impulsive structure, wave (i) is a Leading Diagonal, wave (ii) is a Flat which neatly predicts a Zigzag wave (iv) by guideline of Alternation. Both waves (iii) and (v) are extensions. The impulsive decline holds well within the parallel trend channel as is often expected. A five wave move is always followed by a three wave corrective pullback or variation thereof, irregardless of degree; in this case, a rally wave ((ii)). To where? The Elliott wave guideline on the depth of corrective waves suggests that price action should ideally end within the span of travel of the previous fourth wave of one lesser degree. Second, the ensuing correction, wave (ii) is unfolding as a sharp Double Zigzag correction labelled (w)-(x)-(y) with waves (w) and (x) completed, wave (y) in progress. In ratio relationships, sharp corrections tend more frequently to retrace 61.8% of the previous wave particularly when they occur as wave (ii) of an Impulse or wave (b) in a larger Zigzag. Also, the actionary waves in a Double Zigzag correction namely waves (w) and (y) are often related by equality or Fibonacci (0.618) in time or amplitude. wave (y) = 0.618 X (w) at 104.87; this level falls neatly within the previous guidelines. Thus, the cluster of evidence suggest the rally is nearing its end and a reversal is onset; a third wave. Trade Plan 1) Conservative Approach Entry: Short at 104.879; the 0.618 retracement. Protective Stop: 107.34; in an Impulse wave (ii) CAN NEVER retrace more than 100% of wave (i). Target: 10.87 decline; in an impulse the third wave commonly travels 1.618 times the loss of the first, as in: wave ((i)) = -6.72 (100.62-107.34), wave ((iii))= 1.618 X (-6.72) equals (-10.87) Risk-Reward: 1:3 2) Aggressive Approach Requires price action to break below a recent swing low; wave b of a Zigzag, that will virtually suggest the rally has ended and a reversal was underway. Entry: Break below 103.89 Protective Stop: Recent swing high Targets: Below 100.62 Risk-Reward: Greater than 1:3 NOTE: Stay tuned to get follow-up adjustments to stops as we monitor the move through completion.
TVC:DXYShort
by Aquanet_Market_Forecast
3
EURUSD 4H ANALYSISFOREXCOM:EURUSD Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
Long
by Phinics
EURUSD AnalysisFOREXCOM:EURUSD Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
Short
by Phinics
Gold vs USDGood is the most secure ingesting got any invested and thus has a very critical position in the market. USD on the other hand is the most traded currency around the world. No matter what trades take place, be it oil, metals or commodities, gold plays a very vital role. We have seen a steep jump in the gold and a steep fall on USD which clearly indicates that these are inversely proportional. Very steep changes in these two can bring many changes to the world economy and might affect many investors. I believe gold will touch its peak levels and then return to 1950 support level gradually , not at once and not in a short time but eventually this will happen. USD will rise and from its 5 months low with all major currency pairs. I welcome comments and your thoughts to learn more. Thanks
FXOPEN:XAUUSDShort
by KunalGaur10
3
USD / CAD TECHNICAL OUTLOOK1) USD /CAD moves downside to 1.3700 on weaken US Dollar. 2) The bearish outlook for USD / CAD remain below the 50, 100 AND 200 moving average ( 1 hour TF ). 3) Major support level seen at 1.3655. Technically, the bearish outlook for USD/CAD remains intact as the pair holds below the 50- and 100-day Exponential Moving Averages (EMAs) on the four-hour chart. Additionally, the Relative Strength Index (RSI) is located in the bearish territory below 50, which means the path of the least resistance of USD/CAD is to the downside.
Short
by tradewith_ritik
USDINR - all time highs will be taken out in November?USD is making some serious inroads. INR trailing behind unable to maintain the equilibrium. 83.4210 is the current ATH. Today we went up to 83.3010. TVC:DXY at 107. Continued FII selling will only add fuel to the fire. When the Indian media houses are gung-ho about the decadal that belongs to India & its growth story - the people outside are not that interested. TVC:US30Y quoting 4.945% looks exciting from a debt perspective ! -- A rising USDINR means the INR is getting devalued. Calendar year 2022 saw an erosion of 11.07%, YTD is only 0.61% - will the rising US yield + war in middle east further erode the Indian Rupee??
Long
by viswaram
Tight Liquidity Globally as well as locally pulls Equities downRising US Yields are attracting liquidity from all assets. Also, in the domestic markets the yield curve has become flat. From being normal sloping during height of Covid to flat today; the shape and level of the yield curve have repercussions on investors. This video examines the liquidity situation globally as well as locally and tracks leading indicators to get a sense of whether the trend is reversing any time soon. These fundamental factors lead to technical charts being formed which are now looking more and more bearish. Finally this video puts it all together to convert all the analysis into action. The script which i have shared is a simple indicator ewhich checks if the low of the current candle is lower than the previous one, and if so, it triggers a buy alert. Simple as it sounds, is also very effective in pulling the buying average down as we increase the quantity of our holding.
TVC:IN10Y
by MBIPL
📊 Forex Currency Technical Analysis - XAUUSD 📈📉Currency Pair: XAUUSD ( GOLD ) Time Frame: 1 DAILY TF Analysis Summary: 📝 As per the 1-day timeframe (1D) for Gold spot, it indicates an uptrend. The Relative Strength Index (RSI) stands at 62.63, supporting the notion of an uptrend. The day's trading range for XAU/USD is between 1964.41 and 1981.64. The moving average suggests a strong buy signal. However, it's worth noting that some technical indicators are in contrast to the moving average, indicating a potential strong sell signal. Key Technical Indicators: 📈📉 Moving Averages: MA5 : 1969 (S) | 1963 (E) MA10 : 1936 (S) | 1938 (E) MA20 : 1889 (S) | 1919 (E) MA50 : 1922 (S) | 1912 (E) MA100 : 1922 (S) | 1918 (E) Relative Strength Index (RSI): RSI value is 68.223 and it is in BUY zone Support and Resistance Levels: 1964.96 & 1978.40 Chart Patterns: THREE INSIDE DOWN : Bearish Reversal ( Indication ), High ( Reliabilty),This pattern is a more reliable addition to the standard Harami pattern. A bearish Harami pattern occurs in the first two candles. The third candle is a black one with a lower close than the second. The third candlestick is confirmation of the bearish trend reversal (Description). THREE INSIDE UP : Bearish reversal ( Indication ), MEDIUM ( Reliabilty ), During an uptrend, the market builds strength on a long white candlestick and gaps up on the second candlestick. However, the second candlestick trades within a small range and closes at or near its open. This scenario generally shows erosion of confidence in the current trend. Confirmation of a trend reversal would be a lower open on the next candle ( Description ). Price Analysis: 📈📉 The current market price of XAU/USD is $1,975, and it is indicating an uptrend. This upward movement is supported by technical indicators such as the RSI, moving averages (MA), and ATR (Average True Range), all of which are showing positive trends. Trade Recommendations: 📊📈 Consider taking a long position if the price breaks above the resistance level of 1978, with confirmation from the RSI. Educational Purpose This information is for educational purposes only, and you should conduct your research and consider seeking advice from financial professionals when making real investment decisions.
OANDA:XAUUSDLong
by tradewith_ritik
Long-term CHF trading strategyAUD/USD continues to recover from the 0.6285 area, gradually forming a double bottom pattern with the neckline at 0.6435. On frame D1, the recovery momentum has weakened after touching the 20-day MA at 0.6380. On the H4 frame, the currency pair is still maintaining an uptrend. The RSI and MACD indicators signal that the upward momentum is still maintained. The price can still gain momentum if it maintains above the MA 20 line at 0.6330. Immediate resistance will be at 0.6390 and 0.6435. If the price retraces below 0.6330, the next important support levels will be 0.6310, 0.6285 and 0.6255.v
Long
by NicoTradingMaster
XAGUSD (Silver/US Dollar)XAGUSD Technical Analysis : As of 17th October 2023, silver (XAG) against the US Dollar (USD) is showing signs of a bullish trend. The Relative Strength Index (RSI) is 53.57, indicating neutral conditions, while the Moving Average Convergence Divergence (MACD) is showing a Selling crossover. The silver price has also formed an ascending triangle pattern, suggesting potential upward momentum. Key Resistance: 22.74 Key Support: 22.46 Traders should closely monitor price movements around these levels. A break above the resistance could signal further gains, while a drop below support may indicate a reversal. Consider your risk management strategy before entering any trade. On the Basis of TF are : Minute TF : "Moving Average" & Technical Indicator" are showing bullish movementum Hourly TF : "Moving Average" & Technical Indicator" are showing bullish movementum Daily TF : "Moving Average" is neutral but the "Technical Indicator" is showing bullish movementum Weekly TF : "Moving Average" & Technical Indicator" are showing bearish movementum
OANDA:XAGUSD
by tradewith_ritik