TREND According to the wave structure, it is still in the downtrend However, head and shoulders formation is a powerful reversal indicator. It also formed a blue channel , now targeting the upper band Moving Averages 20-day (Red) crosses 50-day (Orange) from down to up (powerful indicator supporting uptrend) 100-day (Turquoise) is below the current price (so supports uptrend) 200-day (Blue) is right below the current price (it becomes support now) SUMMARY Based on this analysis, a price action following the blue arrow is highly probable.
Hello Traders ! The USDCHF failed to create a new higher high ! Currently, The last higher low is broken (Change of character). So, I expect a bearish move? _______________ TARGET: 0.87260?
MinRes has been heavily shorted during the lithium price crash, and further embattled in the media due to CEO personal activities coming to light. Could be lined up for a hard and fast retracement.
Hi With Bitcoin's recent moves, it seems that in the short term, the currency will have a hard time breaking 103,000 and could even fall to the 80,000 range. This idea will fail if it breaks the previous peak.
The EURGBP currency pair is below the EMA200 and EMA50 in the 4H timeframe and is moving in its descending channel. In case of breaking the resistance area, we can see the supply zone and resell in that zone with appropriate risk reward. A valid break of the drawn support area will provide us with the downward path of this currency pair to the level of 0.82400. Following Donald Trump’s victory in the U.S. presidential election, the euro experienced a sharp decline. This drop was attributed to market reactions to the possibility of aggressive policies in areas such as trade, immigration, and finance.Past experiences have shown that such policies can significantly impact exchange rates. It is anticipated that the U.S. tariff measures expected in early 2025 will play a crucial role in shaping the direction of exchange rates. The euro, particularly due to Europe’s significant trade surplus with the U.S., is highly vulnerable to these measures. According to statistics, the U.S. trade deficit with the eurozone increased from $158 billion in 2019 to $196 billion by September 2024. This development could serve as motivation for U.S. policymakers to apply further pressure. Another factor that might weaken the euro is the poor performance of eurozone countries in meeting NATO’s defense spending targets. Out of the eight countries that remain below the 2% defense spending threshold, seven are in the eurozone. This could provide Trump’s administration with justification for adopting stricter trade measures. JP Morgan has forecasted that the European Central Bank (ECB) will cut interest rates by 50 basis points during its December 12 meeting. While the market assigns only a 20% probability to this reduction, JP Morgan believes that such a cut would not suffice to bolster the economy. Data indicates that the preliminary estimate for overall consumer inflation dropped from 2.8% to 2.7%, while core inflation rose from 2% to 2.3%. Villeroy, a member of the ECB, dismissed these changes as insignificant. In his speech, he stated: “We have good news; inflation is decreasing and moving toward our target. Therefore, it is likely that we can continue reducing interest rates.” He added, “We are confident in our projections and expect to achieve our inflation target, possibly in the first half of next year.” Christine Lagarde, President of the ECB, in an article for The Economist, discussed how Europe’s savings can be transformed into investments, innovation, and growth. She highlighted that Europe faces numerous economic challenges and that directing savings toward productive investments is essential to stimulate growth. Lagarde emphasized the need for a strong capital markets union in Europe to better allocate financial resources and improve access to capital for innovative companies. She also stressed the importance of structural reforms to enhance the business environment and encourage entrepreneurship. She pointed to the role of coordinated fiscal and monetary policies in supporting sustainable and innovative investments and underscored the importance of cooperation among EU member states in achieving these objectives. Additionally, she called for the establishment of a stable and predictable legal and regulatory framework to boost investor confidence and drive economic growth. A recent Cluster17 survey revealed that around 54% of French citizens want President Emmanuel Macron to resign and for early presidential elections to be held in 2025. The survey also showed strong public polarization regarding the collapse of the Barnier government, highlighting the inability of political parties to unite voters. Political analyst Stéphane Fournier noted that these results increase pressure on Macron to appoint a new prime minister. The findings also reflect public dissatisfaction with the current political situation and the failure of parties to provide effective solutions to the ongoing crisis. According to a recent Reuters survey of economists, 73 out of 75 economists predict that the ECB will cut the deposit rate by 0.25% during its December meeting. Two others anticipate a 0.5% cut. Moreover, 51 out of 67 economists expect the ECB to reduce the deposit rate to 2% or lower by the end of 2025. Notably, in a November survey, 43 out of 63 economists made the same prediction.
So Gold market has been choppy for past couple of days and have not taken any clear direction. and market opportunities has been few due it. NFP will change this choppy market. Now before NFP, there are very few trade opportunities. but we can still grab some if there arise any. Before NFP market is likely to remain choppy, but if the market goes down, which is less likely then we can look for BUY opportunity around 2605 area . Similarly, if it goes up before NFP, then we can look for SELL around 2663/2665. Other than these levels, there isn't any other opportunity. KEY LEVELS: FOR BUY: 2610 & MINOR LEVEL 2633 FOR SELL 2663/2665 & MINOR LEVEL: 2653 AFTER NFP: There isn't any good level that we say to look for as NFP data can make market move market strangely. SO my advice would be wait till NFP sets a trend and then execute a trading plan accordingly. FOLLOW THE TREND THAT NFP SETS. I'll keep you guys updated so follow and share this idea.
It's been hard to find good trades, but once you do it's hard to let go. However, take your profits as you continue to be blessed. I do it in increments at 15 min intervals. When you see a engulfing candle, take the trade at the next complete red candle. I will trail this and see how long it could go on. Happy trading ?.
SCALPING XAU / USD ⭐️Smart investment, Strong finance ⭐️GOLDEN INFORMATION: Expectations for rate cuts remained largely unchanged after the US Department of Labor (DoL) reported that Initial Jobless Claims increased to 224K for the week ending November 29, up from the previous week's 215K. Meanwhile, the benchmark 10-year US Treasury yield remains near its lowest point since October 22, keeping the US Dollar subdued at multi-week lows and providing added support for the precious metal. ⭐️Personal comments NOVA: Scalping the sideway price range of the European Friday session (2633 - 2650). The main trend is still down, SELL SIGNAL ⭐️SET UP GOLD PRICE: ?SELL GOLD zone: $2650 - $2652 SL $2655 scalping TP1: $2645 TP2: $2640 TP3: $2630 ⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account
In 5 business days US100 jumped with more than 600 points. We use patterns like the Golden Cross, where a short term MA breaks above a longer term MA, to determine the strenght and the direction of the momentum. The classic buy signal, triggered by the Golden Cross, emerged last week and since then buyers in the NASDAQ generated fantastic profits! For the past few hours today however, we notice a possible slow down in the upward momentum. This is only normal, because many of these buyers are going to start selling, to take profit, after the rally. We use Fibonacci to establish where the price might correct to and we usually focus on the critical levels 38% Fib and 50% Fib. Tech stocks are hot, rates are dropping and on the long run it is very possible that the index will continue its upward march. On the short term however, its absolutely normal to see some pullbacks. We assume that buyers could secure better risk to reward on their trades, if they target a lower entry, possibly at 21 250, which aligns with the important 38% Fibonacci retracement. This also opens the room to short sellers, who wish to bet on a short term drop and take this level as a potential profit taking zone.
Week Higher Low Entry Confirmed & Daily Invesrted Head & Shoulder Almost Confirmed. I am waiting for Stong bullish Candle in Daily frame... Just for educational Purpose... Hope you people will not going to miss this opportunity...