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Bullish momentum to extend?The Fiber (EUR/USD) is falling towards the pivot which is a pullback support and could bounce to the 1st resistance which is also a pullback resistance. Pivot: 1.1079 1st Support: 1.1075 1st Resistance: 1.1512 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
Bearish continuation?US Dollar Index (DXY) is rising towards the pivot and could drop to the 1st support. Pivot: 100.54 1st Support: 98.32 1st Resistance: 101.78 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
TVC:DXYShort
by ICmarkets
GBPUSD is relatively stable, main uptrendOANDA:GBPUSD performed relatively steady among major currencies. The UK's avoidance of Trump's new steel and aluminum tariffs supported the pound and market sentiment remained relatively upbeat. The UK releases April GDP and employment data this week, and markets are paying close attention. If the unemployment rate rises, that could drag the pound down; if it shows a healthy labour market, that could push it higher. Bank of England Governor Bailey said he would continue to adopt a “gradual and cautious” interest rate cut strategy, reflecting a cautious stance amid heightened market volatility. The statement was interpreted by the market as hawkish, which helped support the pound. Britain is not a target of Trump’s new tariff policy, and the market believes that the US-UK trade relationship is relatively friendly, which has boosted the British stock market and the pound. The fact that the UK is not affected by Trump’s steel and aluminium tariffs is a positive for the pound, but this week’s jobs data will be key. If unemployment rises in April, it could undermine sterling’s gains. The market is positive about the Bank of England’s cautious monetary policy stance, believing that this will help the pound maintain its strength in the short term. On the daily chart, OANDA:GBPUSD is temporarily capped by the 1.35877 price level of the 0.618% Fibonacci extension and the overall technical outlook remains overwhelmingly bullish. Key supports are seen by the rising price channel and the EMA21, while the bullish RSI has yet to reach overbought levels, suggesting that there is still plenty of room for GBP/USD to move higher in terms of momentum. As long as GBP/USD remains within the price channel, it will remain bullish in the short term, and once GBP/USD breaks above 1.35911, which is the nearest horizontal resistance, it will be eligible to continue its technical rise towards the next target around 1.37104 in the short term. During the day, the bullish outlook of GBP/USD will be noticed by the following technical positions. Support: 1.35015 – 1.34441 Resistance: 1.35877 – 1.35911
Long
by Xayah_trading
Despite some difficulties, EUR is still in an uptrendThe European Central Bank cut interest rates by 25 basis points as expected and said inflation was close to its medium-term target of 2%. Trump's tariff policies have loosened financial conditions, suggesting further easing is likely. This dovish stance has put some pressure on the euro. Preliminary eurozone CPI data for May showed that inflationary pressures slowed more than expected, dragging the euro down. Germany’s manufacturing PMI for May was weaker than expected, suggesting further contraction in the manufacturing sector; France’s services PMI was better than expected, but still in contraction territory. Eurozone economic data has been mixed. European Central Bank President Lagarde said the monetary easing cycle was coming to an end, boosting market confidence in the euro over the medium term. But caution will still be needed about the impact of Trump’s tariff policies on the global economy. While the ECB believes trade tensions have eased, the eurozone is not completely out of the woods. If future economic data remains weak, the euro could face downward pressure. On the daily chart of OANDA:EURUSD after receiving support from the 0.236% Fibonacci retracement level with horizontal support at 1.12038, the recovery momentum has created a significant increase. Specifically, the increase has tested the levels of 1.14744 and 1.14212, please note that in the previous publication about EUR/USD, these levels are also the nearest resistance at present. However, in terms of the overall technical picture, EUR/USD is still in a bullish trend with a break above 1.14744 opening the door for a new bullish cycle with a short-term target of 1.15720. Intraday, the bullish outlook for EUR/USD will be highlighted again by the following price points. Support: 1.13788 – 1.12422 Resistance: 1.14212 – 1.14744
Long
by Xayah_trading
UCAD Bulls Look for 3rd Test After Sept. '24 Highs TouchOANDA:USDCAD Bulls were able to find support at the Sept. 2024 Highs after having traveled down a Falling Support for the past 2 months! Now we see Bulls pushing price higher creating a Rising Support with 2 tests having been successful and currently coming down for a 3rd test! Now Price has already broken a Previous Level of Structure which was a Past Resistance on June 4th. This level also lands right at the 34 EMA and based on the Bollinger Bands, this test will also be a Mean Reversion where Price after having traveled in one direction will revert back to the mean of the Bollinger Bands for Continuation, which in this case will be Bullish! After the 2nd Test of the Rising Support, we can see a Massive amount of Volume enters. Price also is trading Above the 50 on the RSI and is currently coming down to test that level. I am looking for Price to test the 1.3683 area and if Price shows support for a 3rd Test, this will be a great opportunity for Long Positions! Fundamentally, USD will be bombarded heavy news being CPI numbers with analysts forecasting a .2% Increase in Inflation! Also PPI, Unemployment Claims and Prelim UoM Consumer Sentiment & Inflation Expectations.
Long
by Novi_Fibonacci
Strong Dollar, Shaky Gold: Is It Time to Buy?Gold has returned to a weaker stance, trading around $3,309 during the U.S. session. The U.S. dollar gained some positive momentum as markets leaned toward the possibility that the Federal Reserve will keep its policy unchanged in July following the May report, causing XAU/USD to drop lower into the weekend. Additionally, U.S. economic data released on the same day continued to show signs of cooling. Specifically, weekly jobless claims came in higher than both the forecast and the previous week's figures, while the U.S. trade deficit narrowed significantly in May. The index measuring the dollar's strength against a basket of six major currencies remained nearly unchanged. Meanwhile, the yield on 10-year U.S. Treasury bonds rose, and real yields climbed by 2 basis points, putting downward pressure on gold prices. Nevertheless, gold still maintains its long-term uptrend. This correction is seen as a better buying opportunity.
OANDA:XAUUSDLong
by Edward_TradingFX
CAD-JPY Pullback Expected! Sell! Hello,Traders! CAD-JPY made a retest of The strong horizontal resistance Level of 106.083 and as you Can see the pair is already Making a local pullback from The level which sends a clear Bearish signal to us therefore We will be expecting a Further bearish correction Sell! Comment and subscribe to help us grow! Check out other forecasts below too! Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Short
by TopTradingSignals
1
USDCAD weekly overviewHello Traders, War in Persian Gulf could change the direction of this analysis. Any conflict in the Middle ease could make out two white zones be red and suitable for shot trades. in normal situation, only 1.37732 is prepared for long trades. *********************************************************** The indicated levels are determined based on the most reaction points and the assumption of approximately equal distance between the zones. Some of these points can also be confirmed by the mathematical intervals of Murray. You can enter with/without confirmation. IF you want to take confirmation you can use LTF analysis, Spike move confirmation, Trend Strength confirmation and ETC. SL could be placed below the zone or regarding the LTF swings. TP is the next zone or the nearest moving S&R, which are median and borders of the drawn channels. ******************************************************************* Role of different zones: GREEN: Just long trades allowed on them. RED: Just Short trades allowed on them. BLUE: both long and short trades allowed on them. WHITE: No trades allowed on them! just use them as TP points
by AliSignals
Bearish drop?AUD/USD is reacting off the resistance level which is an overlap resistance that aligns with the 38.2% Fibonacci retracement and could drop from this level to our take profit. Entry: 0.6499 Why we like it: There is an overlap resistance level that lines up with the 38.2% Fibonacci retracement. Stop loss: 0.6517 Why we like it: There is a pullback resistance level that lines up with the 61.8% Fibonacci retracement. Take profit: 0.6471 Why we like ot: There is a pullback support level that aligns with the 50% Fibonacci retracement. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
Short
by VantageMarkets
Bullish bounce off pullback support?USD/JPY is falling towards the support level which is a pullback support that os slightly above the 23.6% Fibonacci retracement and could bounce from this level to our take profit. Entry: 144.27 Why we like it: There is a pullback support level that is slightly above the 23.6% Fibonacci retracement. Stop loss: 143.36 Why we like it: There is an overlap support level that is slightly below the 61.8% Fibonacci retracement. Take profit: 146.07 Why we like it: There is a pullback resistance level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
Long
by VantageMarkets
1
Bullish rise?USD/CAD is reacting off the resistance level which is a pullback resistance and could potentially rise from this level to our take profit. Entry: 1.3691 Why we like it: There is a pullback resistance level. Stop loss: 1.365 Why we like it: There is a pullback support level. Take profit: 1.3742 Why we like it: There is a pullback resistance level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
Long
by VantageMarkets
Potential bearish drop?GBP/USD is rising towards the resistance level which is an overlap resistance that lines up with the 38.2% Fibonacci retracement and could drop from this level to our take profit. Entry: 1.3545 Why we like it: There is an overlap resistance that aligns with the 48.2% Fibonacci retracement. Stop loss: 1.3576 Why we like it: There is a pullback resistance level that lines up with the 61.8% Fibonacci retracement. Take profit: 1.3501 Why we like it: There is an overlap support level that is slightly above the 61.8% Fibonacci retracement. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
Short
by VantageMarkets
Bearish drop?EUR/USD is rising towards the resistance level which is a pullback resistance that lines up with the 23.6% Fibonacci retracement and could drop from this level to our take profit. Entry: 1.1406 Why we like it: There is a pullback resistance level that lines up with the 23.6% Fibonacci retracement. Stop loss: 1.1433 Why we like it: There is a pullback resistance level that lines up with the 50% Fibonacci retracement. Take profit: 1.1358 Why we like it: There is a pullback support level that aligns with the 50% Fibonacci retracement. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
Short
by VantageMarkets
GBPJPY - Major Resistance Zone Threatens Further UpsideThe GBP/JPY 4-hour chart reveals the pair is approaching a critical resistance zone around the 196.00-196.50 level, marked by the upper boundary of the highlighted rectangular area, which represents a significant technical ceiling that has been tested multiple times over the past month. This resistance level coincides with previous swing highs and appears to be acting as a formidable barrier to further upside progress, suggesting that traders should exercise heightened caution as selling pressure is likely to intensify in this area. The pair's recent rally from the May lows around 190.50 has been impressive, but the multiple rejections from this upper resistance zone indicate that institutional sellers may be positioned to defend these levels aggressively. Given the historical significance of this resistance area and the potential for profit-taking after the substantial advance, market participants should be prepared for increased volatility and possible reversal signals as the pair approaches or tests this key technical barrier, making risk management particularly crucial at current levels. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Short
by financialflagship
2
GOLD MARKET ANALYSIS AND COMMENTARY - [Jun 09 - Jun 13]OANDA:XAUUSD fell more than 1% on Friday (June 6) due to the unexpected US non-farm payrolls data for May. Spot gold closed at $3,309.84/oz, up 0.8% on the week. Although gold failed to break above the $3,400/oz resistance and may fluctuate in the $3,300-$3,400/oz range in the short term, the market's resilience and long-term uptrend remain solid. Meanwhile, silver and platinum outperformed, hitting 13-year and 3-year highs, respectively, on investment demand and expectations of supply shortages. Gold prices rose significantly on Monday last week and hovered at highs ahead of the release of non-farm payrolls data from Tuesday to Friday, reaching $3,403.48 an ounce on Thursday. The latest data showed that the US added 139,000 non-farm payrolls in May, beating market expectations of 130,000, the unemployment rate held steady at 4.2% and wage growth beat expectations. This reduced the likelihood of the Federal Reserve cutting interest rates in the near future, pushing the US dollar and US bond yields higher and putting pressure on gold prices. OANDA:XAUUSD received initial support above 3,300 USD/ounce, indicating that the market still has buying support, but the resistance level of 3,400 USD/ounce is difficult to overcome in the short term and 3,200 USD/ounce is the main support level, more detailed technical analysis will be sent to readers in the following part of the article. However, since the raw price points are still related to fundamental analysis, I personally think that the price declines can be seen as an opportunity for gold to hold at lower prices, the long-term uptrend is fundamentally unchanged and central bank gold buying and a weaker dollar will continue to support gold prices. Despite the rise in risk assets such as stocks, gold has shown resilience. Central bank demand for diversified reserves and market risk appetite will continue to support gold prices, underscoring its appeal as a safe-haven asset. Market Background and Outlook The labor market is slowing steadily and the Federal Reserve is likely to continue to wait and see, with the likelihood of a near-term rate cut low. The May CPI data next Wednesday (June 11) will be in focus. If CPI rises, it will push the US Dollar higher and further depress gold prices. If CPI is weak, it could help push gold prices higher. Geopolitical and trade factors: Trump's call with Xi Jinping on Thursday did not bring any clear progress on trade. If the tariff news worsens, this could boost demand for gold as a safe haven. On the other hand, the outlook for the Middle East-US, Ukraine-Russia talks is also not getting any better, any negative signs on the geopolitical front next week will also boost gold prices to recover. Economic data and events next week Wednesday: US Consumer Price Index (CPI) Thursday: US Producer Price Index (PPI), Weekly Jobless Claims Friday: University of Michigan Consumer Sentiment Index 📌Gold prices fell sharply on Friday as it retested the $3,371 target level, which is the 0.236% Fibonacci retracement level, but failed to break it. The bearish momentum took gold towards an area where there are several important supports such as the $3,300 price point and the confluence of the 0.382% Fibonacci retracement level with the 21-day EMA. Although gold has fallen, its current position still has enough conditions for bullish expectations in the near term. And in terms of momentum, the Relative Strength Index (RSI) is still above 50, and in this case, 50 is considered the nearest momentum support. As long as gold remains in/above the price channel, its main long-term trend is still bullish, in the short term if gold remains above the base price of 3,300 USD, it still has an upside target at 3,371 USD followed by the base price of 3,400 USD. Notable technical levels are listed below. Support: 3,300 – 3,292USD Resistance: 3,350 – 3,371 – 3,400USD SELL XAUUSD PRICE 3345 - 3343⚡️ ↠↠ Stop Loss 3449 BUY XAUUSD PRICE 3227 - 3229⚡️ ↠↠ Stop Loss 3223
OANDA:XAUUSDLong
by Xayah_trading