Lets see how it plays out. Wasn't going to trade till after the interest rate decision but this one is too tempting lol. Good luck and happy trading.
After tapping tapping into Daily Fvg the price is on course to take ERL.
Decline in Central Bank Gold Purchases: In June, central banks reported a net gold purchase of 12 tons, reflecting a 7% decrease compared to May. This decline suggests weaker demand, potentially adding downward pressure on gold prices. (Source) China Stops Gold Purchases: China’s central bank halted gold buying after 18 consecutive months of accumulation. This decision has led to a drop in gold prices in global markets and could signal a shift in the previous bullish trend. (Source) Conclusion & Trading Recommendation Given the technical analysis and recent news, gold is currently in a critical zone. The $2,766 - $2,780 resistance level will determine the next major move. If the resistance breaks: ? Expect further upside momentum, making a BUY (Long) position favorable. If the resistance holds and price rejects: ? A downward correction is likely, making a SELL (Short) position ideal. Final Advice: Wait for a clear breakout or rejection before making a trade. Let the price confirm its direction, and then take action accordingly
CADJPY is almost there in terms of our wait for an entry. Once price breaks that red line it will have then shifted structure on the 1hr and we will then be looking for just one more confluence to then take the trade we been looking for. So far though price is doing what we planned it to do.
GBPJPY is neutral on its 1D technical outlook (RSI = 49.276, MACD = -0.320, ADX = 25.216) as it is consolidating around its 1D MA50. The Channel Up since the August 5th 2024 Low as well as its RSI structure, draws comparisons with the 2023 Channel Up, which after one last pullback, it rebounded to the 2.0 Fibonacci extension and beyond. We're turning bullish (TP = 208.000).
Crude prices were a touch softer in early trade this morning. Yet prices for WTI appear to be oscillating around $73.85 – a level which represents the 50% retracement of the rally from early December to the recent high of $80.61. It also marks a point on the downwardly-sloping trendline which was broken above nearly three weeks ago, and is now being retested as support. Could this mark the end of a correction from recent highs? And if so, could that mean that oil is now consolidating ahead of another rally attempt? It’s certainly possible, particularly as the daily MACD has pulled back sharply from the overbought levels seen two weeks ago. But aside from the technical picture, there are plenty of unknowables on the fundamental side. Chief amongst these is what President Trump is going to do about tariffs. Soon after his inauguration, just over a week ago, he threatened 25% tariffs on Canadian and Mexican imports from 1st February, along with a mention of a 10% tariff (down from 60%) on China. On Monday, Scott Bessent was confirmed as the new US Treasury Secretary. He began his appointment by calling for a universal tariff of 2.5% on all imports to the US. This surprised market participants, most of whom had come to expect that tariffs would be threatened/applied on a ‘case-by-case’ basis. As far as oil is concerned, both Canada and Mexico export oil to the US.
Our view for Bitcoin has not changed a bit; we are looking for a full dominance from sellers near $100K, which would send the price to $92-93K. Now before we see it, we might re-test the local resistance zone near $105-106K so this will also be one zone we are keeping our attentions at. Other than that, as soon as we see pressure from sellers, we are going to go for a short position here!! Swallow Team
This is with the H4 trend There is a deep crab pattern on M15 All timeframes are overbought This is the start of a NASDAQ crash as there are multiple signs on daily to show it has reached a high Stop loss of 60 pips
Gold forecast and technical analysis H1 time frame next move possible
Fibbs Never Lie............. Nifty 4-hour chart with a technical analysis setup that includes Fibonacci levels, trendlines, and key support/resistance zones. Here’s a breakdown of the key elements: 1. Fibonacci Retracement & Extension Levels Fibonacci Retracement (Commonly used for support/resistance levels) Levels: 38.2% (22,990), 50% (23,054), 61.8% (23,117) These levels act as key support or resistance zones where price might reverse. Fibonacci Extension (Projection of possible price targets) Levels: 138.2% (23,529), 150% (23,592), 161.8% (23,656) These levels project where price might extend if an uptrend resumes. Higher Fibonacci Extensions around 24,068 - 24,735 could be potential future price targets if the price moves upward. 2. Trendlines & Market Structure The blue downward sloping trendline suggests a downtrend. A large ABC corrective pattern might be forming. The price is currently trying to break through resistance around the 23,000-23,100 zone. 3. Buy & Sell Levels A BUY entry at 23,163.10 is marked. The low support level is around 22,784. There is a major resistance near 23,323, aligning with 100% Fibonacci retracement. 4. Volume Analysis Volume spikes indicate strong buying/selling activity. Higher volume near support zones suggests buyers stepping in. 5. Possible Trading Plan Bullish scenario: If price breaks above the 23,323 level, it may move towards 23,529 - 23,862. Bearish scenario: If price rejects from resistance, it may fall towards 22,784 or lower Fibonacci levels. This chart is a combination of Fibonacci, trend analysis, and volume-based confirmation, which aligns well with your intraday options trading strategy.