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My personal FX pairs and XAUUSD analysis


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#EURUSD: Important Breakout 🇪🇺🇺🇸
 
Bulls push 🟢EURUSD heavily after yesterday's Interest Rate Decision and FOMC.
The price has successfully broken and closed above a solid horizontal supply cluster.
 
The next solid resistance that I see is 1.099 - 1.103 area.
Probabilities will be high that it is the next goal for buyers.
 
For those, who missed entries, I strictly recommend waiting for a pullback first.
I will post an update later on.

For Additional confirmation use: Xmaster Formula MT4 Indicator

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Nasdaq-100 Index (#US100) Waiting For Breakout

⚠️Nasdaq Index is stuck between 2 solid structures.
Depending on the reaction to the underlined areas, I see 2 potential scenarios.

1 - Bullish
If the price breaks and closes above 12700 - 12900 supply cluster on a daily,
I will expect a bullish movement at least to 13130

2 - Bearish
If the price drops and closes below 12300 - 12500 demand area on a daily,
I will expect a selloff to 11900

Wait for a breakout, it will show us the future direction of the market.
For Additional confirmation use: Breakout Indicator

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Market Breakdown | WTI Oil, EURUSD, GBPNZD, EURAUD

Here are the updates & outlook for multiple instruments in my watchlist.

1️⃣ WTI Oil daily time frame️
The market is trading in a long term bearish trend .
After the last sharp bearish movement, the market is steadily recovering.

Ahead, I see a major horizontal supply area.
Probabilities are high, that the next bearish wave will initiate from there.

2️⃣ EURUSD daily time frame
After a breakout of a solid daily resistance, the market is preparing for its retest.
Watch carefully the underlined zone and look for buying opportunities from there.

3️⃣ EURAUD weekly time frame
The pair is currently approaching a weekly horizontal resistance cluster.
Taking into consideration, that the pair is quite overbought, probabilities will be high to see a pullback from that

4️⃣ GBPNZD daily time frame
The pair is currently retesting a broken neckline of an ascending triangle . As we discussed earlier, the trend line of a triangle and its neckline compose a contracting buy zone now.
Chances will be high that the next bullish wave will initiate quite soon.
For Additional confirmation use: Divergence Indicators

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Gold (#XAUUSD): 2 Scenarios For This Week Explained

⚠️Gold closed this week, approaching a solid daily resistance.
Depending on the reaction of the price to that structure, I see 2 potential scenarios for next week.

Bullish Scenario
If the price breaks and closes above 2010 resistance on a daily,
a bullish continuation will be expected to 2060 level.

Bearish Scenario
The price may respect the underlined resistance.
1917 - 1940 is the closest strong support.
If the price drops and closes below that area,
a bearish continuation will be expected to 1891.

Wait for a breakout and then follow the market.
For Additional confirmation use: ROC Indicator

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#USDJPY: Key Levels to Watch This Week

Here is my latest structure analysis for USDJPY.

Resistance 1: 132.46 - 133.25 area
Resistance 2: 135.0 - 135.8 area
Resistance 3: 137.36 - 137.9 area

Support 1: 129.64 - 130.7 area
Support 2: 128.09 - 128.7 area
Support 3: 127.2 - 127.8 area

Consider these structures for pullback/breakout trading.

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Natural Gas (#NATGASUSD): How to Buy With Confirmation

Hey traders,

I spotted a classic harmonic ABCD pattern on 26a0-fe0f.png?v=14.0Natural Gas.
The completion point of the pattern matches perfectly with a horizontal key level.

Analyzing intraday time frames, I also spotted a falling wedge pattern on 12H.

To buy with a confirmation, wait for a bullish breakout of the resistance of the wedge.
Its violation may initiate a bullish movement.

The goals will be 2.43 / 2.58
Learn more about - chart patterns

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#EURJPY: Detailed Structure Analysis

Here are my latest structure analysis for ⚠️EURJPY.

Support 1: 138.80 - 139.25 area
Support 2: 137.38 - 138.18 area

Resistance 1: 143.19 - 143.6 area
Resistance 2: 145.00 - 145.58 area
Resistance 3: 146.40 - 146.7 area

Consider these structures for pullback/breakout trading.

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#EURJPY: Detailed Structure Analysis

Here are my latest structure analysis for ⚠️EURJPY.

Support 1: 138.80 - 139.25 area
Support 2: 137.38 - 138.18 area

Resistance 1: 143.19 - 143.6 area
Resistance 2: 145.00 - 145.58 area
Resistance 3: 146.40 - 146.7 area

Consider these structures for pullback/breakout trading.

eurjpy.jpg

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BITCOIN (#BTCUSD): Waiting For The Next Move ₿

⚠️Bitcoin is consolidating after a sharp bullish rally.
The price is coiling within a horizontal trading range on a daily.

Depending on the reaction of the price to its boundaries, I see 2 potential scenarios.

Bullish
If the price breaks and closes above 28950 on a daily,
I will expect a bullish trend continuation.
Target will be 31000.

Bearish
If the price drops and closes below 26300 on a daily,
a bearish move will be expected.
Goal will be 24300.

Because the trend is bullish, I am on a bulls' side as well.
However, let's see what will happen.

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Market Breakdown | GOLD, USDJPY, SILVER, US30

 
Here are the updates & outlook for multiple instruments in my watchlist.
 
Gold (#XAUUSD) 4h time frame 🟡
Gold is perfectly respecting a minor rising trend line .
So far, I would expect a bullish continuation from that.
Goal for buyers might be the underlined yellow resistance.
 
If you are looking for shorting, consider a bearish breakout of the trend line .
I can give you a perfect confirmation to sell.
 
#USDJPY daily time frame 
The market is approaching a solid horizontal resistance.
Taking into consideration that the pair is quite overbought and trading in a bearish trend ,
I believe that probabilities will be high to see a bearish move from that.
 
Silver (#XAGUSD) 4h time frame 
I spotted a cute bullish accumulation pattern - an ascending triangle formation.
The price has successfully violated its neckline.
It looks like the market will keep growing.
 
Dow Jones (#US30) daily time frame
The market is approaching a solid daily resistance.
We see its breakout attempt now.
If a daily candle closes above that, the Index may go much higher.

For Additional confirmation use: the Best Scalping Indicators

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#GBPUSD: Your Detailed Trading Plan For This Week

⚠️GBPUSD is approaching a key daily structure resistance.
The price is currently stuck with a rising wedge pattern.

To catch a bearish move from that, watch a reaction of the price to the support of the wedge.
If the price breaks and closes below that on a daily, a bearish move will be expected
at least to 1.225.

Alternatively, a bullish breakout of the underlined resistance will push the price much higher.

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S&P500 Index (#SPY): Bullish Outlook Explained

S&P500 Index is trading in a rising channel on a daily.
The price was approaching a solid resistance cluster on Thursday and Friday.
The market managed to break that and successfully closed above.

I believe that the Index may go higher this week.
Next goal for buyers will be 4155
For Additional confirmation use: the Half Trend Indicator

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Crude Oil (#WTI): Have You Seen That GAP?

With a sudden OPEC decision to cut oil production rate,
WTI Oil opened with a huge gap up.

The price is currently testing a solid horizontal supply cluster.
What we know about gaps is the fact that in 80% of the time they tend to be filled.
I believe that sellers will push the price from the underlined resistance and initiate a bearish move.

Goals will be 78.57 - middle of the gap, 75.75 - gap open.

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Dollar Index (#DXY): Waiting For Breakout

Dollar Index is trading in a minor bearish trend on a daily.
The market is steadily falling within a falling parallel channel.

The Index is currently approaching a solid horizontal support.
I believe that the fall will resume after its breakout.
To confirm that, we will need a daily candle close below 101.9.

A bearish continuation will be expected to 101.0 support then.
For Additional confirmation use: the Momentum Indicator

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    • EURUSD Elliott Wave Analysis Trading Lounge Day  Chart, 5 March 24   Euro/U.S.Dollar (EURUSD) Day Chart EURUSD Elliott Wave Technical Analysis FUNCTION: Trend   MODE: Impulsive   STRUCTURE: Blue wave 1   POSITION:black wave 3   DIRECTION NEXT LOWER DEGREES:blue wave 2     DETAILS: black  wave 2 looking completed at 1.06985  .Now blue wave 1 of 3 is in play . Wave Cancel invalid level: 1.06985   The "EURUSD Elliott Wave Analysis Trading Lounge Day Chart" dated 5 March 24, offers a comprehensive analysis of the Euro/U.S. Dollar (EURUSD) currency pair using the Elliott Wave methodology. Conducted on the daily chart, this analysis aims to provide insights into the prevailing trend dynamics and potential future price movements within the broader wave structure. The identified "FUNCTION" is "Trend," indicating a primary focus on determining and navigating the existing trend in the EURUSD pair. This suggests an emphasis on identifying and capitalizing on sustained directional movements over an extended period. The specified "MODE" is "Impulsive," suggesting that the current market conditions are characterized by forceful and decisive price movements aligned with the overall trend. This implies a strong and sustained directional momentum in the EURUSD pair, conducive to impulsive waves. The described "STRUCTURE" is "Blue wave 1," representing a specific phase within the Elliott Wave pattern. The analysis concentrates on the development and progression of blue wave 1, indicating a significant upward movement within the broader wave structure. The identified "POSITION" is "Black wave 3," highlighting the current placement within the larger Elliott Wave pattern. Black wave 3 signifies a powerful phase in the upward trend of the EURUSD pair and suggests a sustained directional move. Regarding "DIRECTION NEXT LOWER DEGREES," the focus is on "Blue wave 2." This implies an anticipation of the next corrective phase within the Elliott Wave pattern, suggesting a temporary pullback or consolidation after the completion of the impulsive black wave 3. In the "DETAILS" section, it is noted that "Black wave 2 looking completed at 1.06985." This signifies the conclusion of a specific subwave within the Elliott Wave pattern. It further states that "Now blue wave 1 of 3 is in play," indicating the initiation of the next higher-degree wave. The "Wave Cancel invalid level" is set at 1.06985, serving as a crucial reference point. A breach beyond this level would invalidate the current wave count, necessitating a reassessment of the analysis. In summary, the EURUSD Elliott Wave Analysis for the daily chart on 5 March 24, emphasizes the impulsive and trending nature of the market. The analysis anticipates the continuation of the upward trend, with specific attention to the completion of sub waves and the initiation of the next higher-degree wave. The Wave Cancel invalid level at 1.06985 serves as a critical marker for potential shifts in the wave count and trend dynamics.       EURUSD Elliott Wave Analysis Trading Lounge 4 Hour  Chart, 5 March 24   Euro/U.S.Dollar (EURUSD) 4 Hour Chart EURUSD Elliott Wave Technical Analysis FUNCTION: Trend   MODE: Impulsive   STRUCTURE: red wave 3   POSITION:blue wave 1   DIRECTION NEXT LOWER DEGREES:Red wave 4     DETAILS: Red  wave 2 of 1 looking completed at 1.07958  .Now Red wave 3 of blue wave 1 is in play . Wave Cancel invalid level: 1.06985   The "EURUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart" dated 5 March 24, provides a detailed analysis of the Euro/U.S. Dollar (EURUSD) currency pair using the Elliott Wave methodology. The analysis is conducted on the 4-hour chart, aiming to discern the prevailing trend dynamics and forecast potential future movements within the broader wave structure. The identified "FUNCTION" is "Trend," indicating that the analysis primarily focuses on identifying and navigating the existing trend in the EURUSD pair. The emphasis is on capturing the directional movement of prices over a more extended period. The specified "MODE" is "Impulsive," suggesting that the current market conditions are characterized by forceful and decisive price movements aligned with the overall trend. This implies a strong and sustained directional momentum in the EURUSD pair. The described "STRUCTURE" is "Red wave 3," representing a specific phase within the Elliott Wave pattern. The analysis focuses on the development and progression of red wave 3, indicating a significant upward movement within the broader wave structure. The identified "POSITION" is "Blue wave 1," signifying the current placement within the larger Elliott Wave pattern. Blue wave 1 represents a higher-degree wave, suggesting a powerful phase in the upward trend of the EURUSD pair. Regarding "DIRECTION NEXT LOWER DEGREES," the emphasis is on "Red wave 4." This highlights the anticipation of the next phase within the Elliott Wave pattern, suggesting a corrective move after the completion of the impulsive red wave 3. The "DETAILS" section notes that "Red wave 2 of 1 looking completed at 1.07958." This signifies the completion of a specific subwave within the Elliott Wave pattern. It further states that "Red wave 3 of blue wave 1 is in play," indicating the continuation of the upward trend and the start of the next higher-degree wave. The "Wave Cancel invalid level" is set at 1.06985, serving as a crucial reference point. A breach beyond this level would invalidate the current wave count, necessitating a reassessment of the analysis. In summary, the EURUSD Elliott Wave Analysis for the 4-hour chart on 5 March 24, emphasizes the impulsive and trending nature of the market. The analysis anticipates the continuation of the upward trend, with specific attention to the completion of sub waves and the initiation of the next higher-degree wave. The Wave Cancel invalid level at 1.06985 serves as a critical marker for potential shifts in the wave count and trend dynamics. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!    
    • Elliott Wave Analysis TradingLounge Daily Chart, 5 March 24, Bitcoin/ U.S. dollar(BTCUSD) BTCUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave III Direction Next higher Degrees: wave (III) Wave Cancel invalid level: 31046.25 Details: The five-wave increase in wave (III) may be complete Watch out for Corrective Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy: Bitcoin's rise continues higher From the rise of the third wave This is likely to break the all time high of 68997.75, but in the final stretch of the rally we still lack movement. Two more times to complete the large Impulse structure, watch out for corrections. Bitcoin/ U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum. TradingLounge Analyst: Kittiampon Somboonsod, CEWA Source : Tradinglounge.com get trial here!         Elliott Wave Analysis TradingLounge 4Hr Chart, 5 March 24, Bitcoin/ U.S. dollar(BTCUSD) BTCUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave III Direction Next higher Degrees: wave (III) Wave Cancel invalid level: 31046.25 Details: The five-wave increase in wave (III) may be complete Watch out for Corrective Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy: Bitcoin's rise continues higher From the rise of the third wave This is likely to break the all time high of 68997.75, but in the final stretch of the rally we still lack movement. Two more times to complete the large Impulse structure, watch out for corrections. Bitcoin/ U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum.    
    • In the wake of a brewing conflict between the Nigerian government and Binance, cryptocurrency enthusiasts find themselves on edge, uncertain about the future of their digital investments. Rumors abound that Binance, along with other platforms, might be exacerbating the Naira's devaluation against the dollar, prompting the government to take a hard stance against the exchange. Despite longstanding allegations of wrongdoing, recent events have propelled the government to escalate its actions. The situation has escalated dramatically, with Binance's P2P platform disabled and a staggering $10 billion fine imposed for alleged illegal activities. This punitive measure, coupled with last year's $4.3 billion fine by the SEC, underscores the gravity of the situation. However, skepticism lingers regarding the astronomical sum demanded by the Nigerian government. While Binance has faced regulatory challenges in other jurisdictions, its resilience and market dominance have largely endured. Yet, the potential ramifications of losing access to a key crypto market like Nigeria cannot be ignored. Complicating matters further, the Nigerian House of Representatives has summoned Binance CEO Richard Teng, issuing a seven-day ultimatum for him to address allegations of terrorist financing and money laundering, among other charges. This development casts a shadow over the future prospects of Binance in the country. Amidst the uncertainty surrounding Binance's operations in Nigeria, users are scrambling to identify alternative platforms. While other centralized exchanges (CEX) remain operational within the country, the pressing question remains: which platform will emerge as the most dependable alternative should the situation worsen? https://punchng.com/reps-summon-binance-boss-over-alleged-terrorism-financing/
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