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EUR/USD: Break $1.1253 Resistance or Await a Pullback?EUR/USD is currently climbing around $1.11950, strongly supported by two solid "fortresses" at EMA 34 and EMA 89, located at $1.11390 and $1.11107. A clear uptrend has formed, with solid support at $1.10864, ensuring the momentum remains intact. The key focus now is on the critical resistance at $1.1253 — the gatekeeper determining whether the uptrend can break through to new highs. With significant economic factors from the US and Europe on the horizon, including key Fed speeches and PMI data, the market may experience sharp volatility. Traders should be ready for action: will you seize the breakout opportunity or wait for a pullback to enter at an optimal level? Opportunity favors the prepared!
by Romio_pro
USDCHF MULTI TIME FRAME ANALYSISHello 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 price action 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. 🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair . 💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
Short
by okako_trading
USDCHF MULTI TIME FRAME ANALYSISHello 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 price action 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. 🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair . 💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
Short
by okako_trading
EMAs Support Bullish MomentumEUR/USD is showing signs of recovery, with the price trading near the resistance at 1.1200. The 34 EMA and 89 EMA have both undergone a crossover phase, which is usually a positive signal, suggesting that the bullish momentum could continue. The current chart shows the pair breaking out from lower levels, heading towards the resistance levels above. Based on the current EUR/USD chart and the bounce from recent support levels, the prediction is that the pair could continue to rise in the short term. The crossover of the 34 EMA and 89 EMA, coupled with the price currently testing the resistance zone around 1.1200, suggests that the bullish momentum could continue. If the price successfully breaks above 1.1200, the next target could be the 1.1250 area.
by Alexander_FXTrading
GBPUSD: Overbought RSI, key resistance test buyersGBPUSD bulls are pausing at their highest level since February 2020, marking six days of gains despite a slow market atmosphere. That said, the Pound Sterling is facing a liquidity squeeze as we approach key data and events this week, which could impact its upward momentum at these multi-month highs. Pullback appears imminent but bulls can keep the reins Apart from the market’s anxiety ahead of this week’s key catalysts, the overbought RSI (14) line and a 10-week-old ascending resistance line, close to 1.3430 at the latest, suggest consolidation in the GBPUSD prices. Important technical levels A pullback in GBPUSD seems likely, with key short-term support levels at the 61.8% and 50.0% Fibonacci extensions of the quote’s August-September moves, respectively near 1.3375 and 1.3300. However, the previous monthly high near 1.3265 and the 21-SMA at 1.3190 are important, as they align with the bottom of a bearish wedge pattern near 1.3140, which could act as a final defense for buyers. On the flip side, for buyers to regain control, they need to break through the 1.3440 resistance. If they succeed, GBPUSD could target the February 2022 peak of around 1.3645 and the 2022 high of 1.3748. A sustained move above 1.3750 could even lead to a challenge of the psychological level at 1.4000. All eyes on US data/events Technical indicators for GBPUSD suggest a pullback may be on the horizon, even as recent U.S. factors favor ongoing Federal Reserve rate cuts throughout 2024. Therefore, key insights from Fed Chairman Jerome Powell’s speech on Thursday and the U.S. Core PCE Price Index— the Fed’s preferred measure of inflation—on Friday will be vital for determining the market's direction.
by MTradingGlobal
GBPAUD H4 ForecastHi H4 structure still looks bullish. H4 counter trend was bearish and now switched to bullish. So H4 pro trend is bullish and counter trend is also bullish. Once red zone broken then we will buy at retest level or if you want to buy with confirmation and looking for better RR then go to LTF and find good confirmation and then BUY. Note : - Entry only after IDM taken out - BUY with LTF confirmation - ALWAYS TAKE 1% risk per trade. - Use Risk management and trade accordingly
Long
by TradingPoint_
USDJPY: Bears have strong reasons to regain controlAs Yen traders return from a long weekend, the USDJPY is testing its recent dip from a five-week-old downward resistance line, influenced by a rebound in the US Dollar. It’s worth noting that the quote’s recovery in the last week benefited from positive signals from the RSI and MACD indicators, bouncing back from a nine-month horizontal support zone. Sellers keep the reins While USDJPY buyers are making their presence felt, a bearish RSI divergence and a moving average crossover, combined with the resistance line, keep sellers optimistic about potential downward moves. The 100-day Exponential Moving Average (EMA) has crossed below the 200-EMA, signaling a bearish trend. Additionally, the higher high on the indicator contrasts with the lower high in prices, reinforcing the bearish RSI divergence. Key technical levels to watch Sellers will gain confidence if USDJPY breaks below a seven-week horizontal support area around 141.70-80. However, the lows from December 2023 and September 2024 pose a challenge for bears at 140.20-139.60. If the pair drops below 139.60, it could test the mid-2023 low near 137.30. On the flip side, buyers will initially target the falling resistance line around 144.25. If successful, they may then aim for the monthly high and late August peak near 147.20 and 149.40, respectively. Additionally, the 150.00 level acts as an important barrier for any upward movement. Bulls face more challenges than bears Whether through technical signals or the differing monetary policies of the Bank of Japan (BoJ) and the US Federal Reserve (Fed), USDJPY sellers face a relatively smoother journey compared to buyers.
by MTradingGlobal