GBPUSD has had it's short term retracement after a rally to the upside. It is now looking like a reversal back bullish at least to the last unfilled imbalance at the 1.3365 area. It may also break though it and continue to go up due to the dollar weakening.
ZRX up to now has been doing pretty predictable moves. Reversal always led to fibb 0.886 level test, be it to upside or downside. Only expection was in recent bull run of March 2024 where if failed to rech fibb 0.886 level. Hard to say what is importance of this and which implications has for the future but we are oversold, sitting at RSI support line which always brought reversal to upside. I expect strong push up where RSI should hit overbought range again. Potential targets are local fibb 0.886 level (carefull not to miss it again) and overextend to test major price resistance at 2.50$.
GBP/AUD Long Setup – Final Retest of Daily Support with Bullish Confirmation Looking to go long on GBP/AUD after multiple confluences across timeframes suggest a strong bounce from key support. Daily Chart: Price continues to respect the 2.07500 support zone, which has held since April 9th. Today, we saw a sharp move back into that level with a strong wick rejection, suggesting a possible final retest before continuation. 4H Chart: We’re 12 minutes from closing a bullish hammer, printing just above the daily support zone — a textbook signal of bullish strength returning from structure. 1H Chart: Clear false breakout + inside bar combo, followed by a bullish hammer close, all occurring within the support zone. These are strong reversal signals, especially when aligned with higher timeframe structure. News Context: While GBP flash PMI data came in weak, price action tells a different story. The bullish hammer forming during the news candle suggests liquidity absorption, not continuation selling. Trade Plan: Entry: Around current levels above 2.075 Stop: Just below the 1H hammer (tight structure-based risk) Target: 2.10815 — aligning with recent swing highs and the top of the range Solid structure + clear invalidation = high-quality setup. If momentum holds, we could see a swift rotation back toward the highs.
Based on wave counting, it appears that Bitcoin has entered an uptrend after completing a long-term correction, the initial part of which is a zigzag pattern. The price is now entering wave C of this zigzag, which is likely to reach the $150,000 target.
Doge (DOGE/USD) is falling towards an overlap support and could potentially bounce off this level to climb higher. Buy entry is at 0.1755 which is an overlap support. Stop loss is at 0.1600 which is a level that lies underneath an overlap support and the 38.2% Fibonacci retracement. Take profit is at 0.2028 which is a swing-high resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (https://tradu.com/uk): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (https://tradu.com/eu): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Global LLC (https://tradu.com/en): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to Tradu (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of Tradu and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of Tradu or any form of personal or investment advice. Tradu neither endorses nor guarantees offerings of third-party speakers, nor is Tradu responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
After the H4 Flipzone+QMTR we see another opportunity presented on the H1 for a continuation for Long positions. A Flizone presented again on the H1 which also becomes a BOS + RTO
USD/CAD Short Setup – Break of Daily Demand + Textbook Triangle Unwind This short is built off both macro fundamentals and multi-timeframe technical precision. Daily Chart: USD/CAD has been steadily breaking structure to the downside. Yesterday's close was significant — we broke below a major daily demand zone at 1.38221, signaling a shift in longer-term sentiment. Today’s price action has already retested yesterday’s high into that broken zone — a classic break-and-retest setup. 4H Chart: A clear 5-wave triangle correction is printing — text-book stuff. We’re nearing the breakout point. Price is pressing against the lower boundary, and momentum looks ready to shift. A potential Evening Star pattern is forming right now, supported by an inside bar and a follow-up bearish hammer — a stacked reversal signal. 1H Chart: Structure confirms the 4H — all signs point toward a correction completing and a new impulsive leg down beginning. Fundamentals: Later today, the U.S. Flash Manufacturing PMI is expected to show contraction — a negative for the dollar. If the data misses expectations, it could amplify the bearish move on USD/CAD. We’re also tracking oil closely — further CAD strength via crude would accelerate the downside here. Trade Plan: Entry: Current area near the 1.382 retest SL: Above triangle high TP1: 1:1 R:R – partial take profit (75%) TP2: Let the remaining 25% run with structure-based trailing If the setup confirms post-PMI, this could be a strong follow-through play after a major HTF breakdown.
GBPUSD traded to an 8-month high on Tuesday at 1.3424, as a new wave of dollar selling swept across FX markets at the start of the week. This time driven by fresh uncertainty surrounding US economic growth and by a barrage of social media comments across the Easter Holiday period from President Trump that seemed to challenge the independence of the Federal Reserve. Now, as we look ahead to the remainder of the week, UK economic data is in focus, with the latest April Preliminary PMI Manufacturing and Services readings released at 0930 BST on Wednesday. These are potentially the first survey updates that will start to show the impact of US tariffs on UK economic growth, business sentiment and inflation, making them potentially important drivers for the future direction of GBPUSD. They could also shed some light on whether the Bank of England may be able to cut interest rates, as many traders hope, at their next interest rate meeting at the start of May. Then, on Friday, UK Retail Sales are released at 0700 BST. This release will be important in showing if UK consumers are still spending despite rising unemployment and stubbornly high prices. If they are, this may be taken as a positive for the UK economy and for GBPUSD, while any disappointment could lead to GBPUSD retesting lower levels again. Technical Update: September 2024 Highs a Key Resistance Focus So far during 2025, GBPUSD has seen a price recovery of nearly 11%, although as already discussed, this may be due more to broad based USD weakness, rather than outright GBP strength. Even so, latest upside has neared 1.3434, the September 2024 failure level, which may prove something of a line in the sand this week. Closing defense of 1.3434 may help determine where next directional risks lie. https://www.tradingview.com/x/wLKAj9Nm/ Much appears to depend on this week’s UK data and reaction to it, but traders may also be focusing on how the 1.3433 failure high is defended on a closing basis. Successful breaks may lead to a more sustained phase of price strength, but without such moves, risks could turn lower again. However, what are the levels we may need to monitor over coming sessions? Possible Resistance Levels: As we have established, traders after what has already been a strong recovery, may view the 1.3433 high as important, with closing breaks required to suggest risks to continue attempts to push to higher price levels. https://www.tradingview.com/x/J8T2zSvO/ If closing breaks of 1.3433 do now materialise, it might be an indication of potential to challenge 1.3640, the February 2022 high, even towards 1.3748, equal to the January 10th 2022 rejection level. Possible Support Levels: With the 1.3433 price high remaining intact, Tuesday’s weakness from this area could now see focus shift back to support. If these give way, it might in turn point to possibilities of a deeper retracement of April strength. https://www.tradingview.com/x/wLKAj9Nm/ The first support may now prove to be 1.3313, equal to half the April 17th to April 22nd strength, with closing breaks perhaps suggesting further downside pressure. This could suggest possibilities towards 1.3148/1.3203, a combination of the April 7th low and 38.2% Fibonacci retracement of the April phase of price strength. The material provided here has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Whilst it is not subject to any prohibition on dealing ahead of the dissemination of investment research, we will not seek to take any advantage before providing it to our clients. Pepperstone doesn’t represent that the material provided here is accurate, current or complete, and therefore shouldn’t be relied upon as such. The information, whether from a third party or not, isn’t to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product or instrument; or to participate in any particular trading strategy. It does not take into account readers’ financial situation or investment objectives. We advise any readers of this content to seek their own advice. Without the approval of Pepperstone, reproduction or redistribution of this information isn’t permitted. The material provided here has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Whilst it is not subject to any prohibition on dealing ahead of the dissemination of investment research, we will not seek to take any advantage before providing it to our clients. Pepperstone doesn’t represent that the material provided here is accurate, current or complete, and therefore shouldn’t be relied upon as such. The information, whether from a third party or not, isn’t to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product or instrument; or to participate in any particular trading strategy. It does not take into account readers’ financial situation or investment objectives. We advise any readers of this content to seek their own advice. 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1. Current Price: $3,317.27 ● Price is currently in a downtrend after a recent high. ● EMA (9) is at $3,333.80 — acting as dynamic resistance. ⚠️ Watch for potential reversal! 2. Support Zone: ? Blue box marked as "RBS + RBR zone!" ● This is a key support area where price might bounce. ● RBS = Resistance Becomes Support ● RBR = Rally-Base-Rally ● Expecting buyers to step in here. 3. Trade Idea: ● Buy near $3,280 - $3,270 (inside the support box) ● Stop Loss: ❌ Below $3,258.00 ● Target: ? $3,500.13 4. Risk-Reward Ratio: ● Target: ? +205.62 points (6.25%) ● Stop: ? Small risk below support ● Good R:R setup if price respects the zone! Scenario Summary ? Price is retracing ⬇️ Approaching strong support zone ? Possible bounce to $3,500 ✅ High-probability reversal area ❗ Manage risk with tight stop below zone
After experiencing large fluctuations on Tuesday, the gold market began to pull back. As of now, gold has fallen back from 3385 again. The current lowest point has broken the morning low and the lowest point is around 3310. 3500 has been confirmed as a short-term high, and risk aversion has eased. Gold opened low at 3312 US dollars in the early Asian session and then stabilized and rebounded to 3386. However, if it cannot continue to rise in the future, the short-selling force may fall to 3330 again. At present, the upper resistance is 3400-3410, and the lower support is 3310-3300. It is recommended to short on rebound and long on pullback. Intraday gold operation suggestions buy 3300-3310 TP 3340-3380 sell 3360-3350 TP 3340-3310 If you agree with this point of view, or you have a better idea, please leave a message in the comment area. I look forward to hearing different voices. OANDA:XAUUSD CAPITALCOM:GOLD FOREXCOM:XAUUSD FX:XAUUSD