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Abcpattern

Gold Watching 3,360 Support as Powell Dovish Tone Weighs on USDHey Traders, in tomorrow's trading session we are monitoring Gold for a buying opportunity around 3,360 zone, Gold (XAUUSD) recently broke above the 3,360 resistance, turning it into an important support level to watch on any pullback. A retracement into this zone could help determine whether the breakout has strength to extend toward higher levels. On the fundamental side, Fed Chair Powell struck a dovish tone, signaling support for a potential September rate cut, citing lower inflation pressures and risks in the labor market. This backdrop keeps USD under pressure and maintains a bullish bias for Gold in the near term. Monitoring price action around 3,360 to assess whether buyers defend this level or if deeper consolidation unfolds. Trade safe, Joe.
OANDA:XAUUSDLong
by JoeChampion
17
APEUSDT – 1D AnalysisHey traders! 👋 Looking at APEUSDT on the daily chart, we can see that the market has completed a clear 5-wave impulse to the downside. After that strong bearish move, the resistance line was broken, which gave us the first signs of a potential reversal. From there, we formed a smaller 5-wave impulse upwards, which could very well be wave A of an ABC zig-zag correction. Following that, wave B unfolded in what looks like an irregular correction. 👉 Now, I’m watching closely for wave C to unfold, which should take the form of another 5-wave impulse. According to Elliott Wave guidelines, wave C often equals the length of wave A. However, in this case, wave A was already quite extended, so I wouldn’t be overly optimistic with projections. The minimum correction target has already been reached, but structurally we’re still missing wave C – so I expect it to play out, potentially in the form of a rising wedge. The good news is that the structure will become clearer as it develops, and we can adjust targets dynamically once price action confirms the pattern. For now, I’m eyeing the green zone as a possible target area for wave C. 📊 Potential Trade Levels: Entry zone: 0.60 – 0.65 USDT Stop Loss: 0.51 USDT Target: 0.99 USDT ⚠️ Important reminder: This is not financial advice – just sharing my Elliott Wave perspective and how I’m viewing the structure right now. The market may develop differently, so please manage your own risk and adjust accordingly. Trade safe, friends! 🙌
Long
by TheWaveHunter
XAUUSD – Watching 3,310 as Price Pulls BackHey Traders, in today's trading session we are monitoring XAUUSD for a buying opportunity around 3,310 zone, Gold (XAUUSD) has been moving lower after its recent swing high, with price now correcting toward the 3,310 area. Structure: The broader bias has been bullish overall, but recent price action shows a corrective move. Key level in focus: 3,310 — previously acted as support/resistance. Next move: Holding above this zone could maintain the medium-term bullish bias, while a clear break below may open the way for deeper retracement. Monitoring how price behaves around 3,310 to understand whether buyers will step in or if weakness continues. Trade safe, Joe.
OANDA:XAUUSDLong
by JoeChampion
30
EURUSD Testing 1.16650 in Descending Channel as DXY Holds 98.100Hey Traders, in today's trading session we are monitoring EURUSD for a selling opportunity around 1.16650 zone, EURUSD continues to trade inside a descending channel, with price correcting upward toward 1.16650, a key resistance zone aligned with channel structure. At the same time, the U.S. Dollar Index (DXY) remains in an uptrend and is approaching 98.100 support. With recent inflation readings running high, markets may expect a more hawkish Federal Reserve, which could support further USD strength. Monitoring how EURUSD reacts near 1.16650 in relation to DXY’s price behavior to gauge whether bearish momentum will resume or consolidation will continue. Trade safe, Joe.
Short
by JoeChampion
11
AUDUSD Tests 0.64400 as DXY Strengthens on Fed BetsHey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.64400 zone, AUDUSD is correcting higher within its broader downtrend, with price approaching the 0.64400 resistance area. This zone aligns with prior supply and could be pivotal in determining whether bearish momentum resumes or a deeper retracement unfolds. The U.S. Dollar Index (DXY) recently broke above the 98.700 key resistance, reinforcing its bullish bias. With U.S. inflation still elevated, markets are focused on potential hawkish commentary from the Federal Reserve at the Jackson Hole symposium — a factor that could further strengthen the dollar and weigh on AUDUSD. Price action around 0.64400 will be critical in assessing whether sellers reassert control or the correction continues.
Short
by JoeChampion
8
GBPUSD at 1.35250 Resistance as DXY Eyes 98.100 SupportHey Traders, in today's trading session we are monitoring GBPUSD for a selling opportunity around 1.35250 zone, GBPUSD is moving within a descending channel, with price correcting higher toward the 1.35250 resistance zone — an area that previously acted as support. Meanwhile, the U.S. Dollar Index (DXY) remains in an uptrend and is approaching the 98.100 support area, which may influence GBPUSD direction if buyers step in. Watching how GBPUSD reacts at 1.35250 in relation to DXY’s behavior could provide insight into whether the current correction ends or extends further. Trade safe, Joe.
Short
by JoeChampion
5
AUDUSD: Gold Breakout & DXY Resistance Could Fuel Bulls!!Hey Traders, In tomorrow’s session, we’re eyeing a buying opportunity on AUDUSD around the 0.65100 zone. The pair remains in an uptrend and is currently in a correction phase, approaching a key support level at 0.65100. We’re also keeping a bullish bias on Gold, which is attempting to break and hold above 3,400. Given the positive correlation between Gold and AUDUSD, this could lend additional upside momentum to the pair. Meanwhile, the DXY is approaching the 98.300 resistance. A rejection from this level could serve as a strong catalyst for AUDUSD bulls. Trade safe, Joe.
Long
by JoeChampion
23
USOIL: Eyes on 64.10 as Geopolitics Take Center Stage!!In today’s session, we’re watching USOIL for a potential short setup around the 64.10 zone. Price action remains in a broader downtrend, with the current move looking like a corrective retracement into a key support turned resistance area. From a fundamental perspective, all eyes are on the scheduled August 15 meeting between Donald Trump and Vladimir Putin. A ceasefire agreement could fuel bearish momentum, potentially accelerating the sell-off. On the other hand, if talks collapse, renewed geopolitical tension could keep oil prices bid in the short term. Technically, 64.10 is the battleground a decisive rejection here could offer an attractive risk reward for sellers aligned with the dominant trend.
TVC:USOILShort
by JoeChampion
4