NZDUSD Bullish Continuation MM P 100pip// WHICH PATTERN ON MMP GUIDE DO WE HAVE?//
NZDUSD is currently showing a BULLISH CONTINUATION MM Pattern 5 in the MMP GUIDE.
// HOW TO ENTER //
Wait for NY to pullback close to the CP
RISK ENTRY ;- LONG on a good rejection from CP
CONFRIMED ENRTY;- LONG when we fix ABOVE BL (Baseline)
// INVALIDATION //
Use a 20-30pips STOP LOSS
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I will notify you of the EURUSD entry opportunity
Regarding the euro, the inflation outlook in the Eurozone is uncertain, and the European Central Bank (ECB) is not expected to shift its tightening policy quickly. On Tuesday (February 28th), the French CPI annual rate was recorded at 6.2%, higher than the expected 6.1% and the previous value of 6.0%; this indicates that there is a risk of a rebound in Eurozone inflation.
On the US dollar side, since early February, a series of economic data in the United States have been stronger than expected, and market expectations for US inflation have rebounded. Expectations of a rate hike by the Federal Reserve (Fed) continue to rise, and the currency market has sharply raised the pricing of the peak of Fed interest rates. If the upcoming economic data continues to exceed expectations, there is still a possibility of further strength in the US dollar in the short term.
The Eurozone CPI for February, which will be announced on Thursday (March 2nd), and the US ISM Services PMI for February, which will be announced on Friday (March 3rd), are worth paying attention to. If US data continues to perform strongly, it will put pressure on the upside of EURUSD.
Looking at the EURUSD 4-hour chart, after a short-term rise, it is once again under pressure to fall back. The upward momentum is obviously insufficient, and there is a demand for a pullback. I personally expect the market to confirm a wave of support before ushering in a new round of upward movement, which will also be our entry opportunity.
My suggestion is to wait for the market to adjust to the range of 1.05400-1.05500 to initiate a long position layout. This is a key support level in the oscillation range and also a relatively good buying point. If you have large funds, you can enter in advance. Friends with small funds need to be patient and wait for the buying point to appear. The first profit-taking position above is 1.07200, and the second is 1.08000.
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GoldViewFX - 4H CHART UPDATED LEVELS & TARGETSHey Everyone,
Please see our updated 4H chart Goldturn levels and targets.
1817 Goldturn, which was the previous swing range provided support for the swing up. This is level is a strong support structure. Should we see 1817 challenged and broken with EMA5 we will see the new swing range open below down to 1779. However, right now we are seeing 1817 support providing a nice push up with a candle body close above 1836 opening a gap to 1854. This gap target of 1854 will be strengthened should we see ema5 cross and lock above 1836 with a potential follow through to 1865.
Short-term technical structure may look Bearish but the overall long term structure is still Bullish. We will trade against the short term trend and stay within the long term trend and trade retracements for now and continue to buy dips.
Bullish Targets
1854
1865
EMA5 CROSS AND LOCK ABOVE 1865 WILL OPEN 1882, 1894 and 1906
Bearish Targets
1836
1817
EMA5 CROSS AND LOCK BELOW 1817 WILL OPEN 1797 AND 1779
SWING RANGE
1797 - 1779
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
XAUUSD BULLISH PROJECTION DATA-INDUCED MARKET REPRICING SETS USDWhile this report’s focus leans more heavily on the technical analysis, it is only prudent to take into account the effect of recent dollar and Fed funds rate repricing this last week. On Thursday, strong jobs numbers from ADP data saw markets lift expectations of a possible 50 bps hike in February to around 45% resulting in a slight bid in the dollar. That of course was before the ISM services PMI data revealed that the largest sector of the US economy had just dipped into a contraction, immediately erasing prior dollar gains as the market repositioned once more, this time for a potentially more cautious Fed approach on the terminal rate.
USDJPY setup Analysis Hello Traders,
We see a bullish head and shoulders in formation.
Scenario 1: We would like to see price give bullish price action and confirmation to enter buys (Longs)
Scenario 2: We would see the possibility of sell pressure continuing, Therefore, invalidating the head and shoulder formation and reaching lows.
Have a good week of trading!!
AudJpy could rise back to 95 zoneAfter a touch of support in the first trading day of the year, AudJpy strongly reversed with a daily rise of around 300 pips (3%).
This rise stopped in 91 horizontal resistance and the pair started to consolidate gains.
A double bottom pattern could play out soon and this could lead to a break of the descending trend line.
In such an instance the pair could rise further and the next obvious resistance is at 95.
Did EurUsd topped?EurUsd has started the year badly, with the first trading day of 2023 being a red one, but more importantly, marking the up break from last Friday as a false one.
On 3rd January we have a new long red candle that also breaks under a small double top pattern and yesterday's candle, a new drop with the candle engulfing the 4th of January correction.
The all, put together, could give us an idea that the 3 months correction is over and the most traded pair is ready to resume its long-term bearish trend.
Short-term traders could focus on the 1.0580 zone resistance and target the 1.04 support and medium-term traders can aim for the 1.02 important one.
Negation comes with a new high above 1.07.
Anyway, as I said multiple times in my previous analysis, there si nothing fundamentally that supports higher prices for Eur above 1.08, and this year I expect a new visit under parity if not even a new low.
NZDUSD TRADE SETUPIN nzdusd price was in uptrend and ranging from last 2 days now price retest its 200 ema in 4h timeframe and in 1 h market formed double bottom and rejected from the support previous resistance now on the monday open if price break the black resistance to the upside than go long for the next level which is red zone and if it break then next level i mentioned 0.5956/ sl below the support zone
EurUsd- Will it regain parity?As I said yesterday, after the strong reversal from the 0.95 low, EurUsd looks ready for a deeper correction of the 3k pips downtrend.
Yesterday the price held above important horizontal support and now is facing the falling trend line from mid-August.
A break above this trend line followed by EurUsd back above parity would put bulls in a very favorable position and give scope to a rise to the very important 1.0350-1.04 resistance
I'm bullish Eur as long as 0.98 is intact
EurUsd- Pressure is lifted, 103 is very probable nowAs I've written yesterday and on the 6Th of September, EurUsd seems ready for a correction.
Yesterday has been a volatile day for EurUsd which went above and under parity and finished the day with a Doji.
Looking at the 4h posted chart we can see that after an initial rise above parity, the pair fell strongly but found strong bids in 0.9930 and reversed strongly overnight, putting in a higher low on our chart.
At this moment EurUsd is trading just under the recent range's resistance and a break un seems very likely. In such an instance I expect the pair to accelerate its gains and rise to 1.03 zone resistance.
I expect parity to remain intact for the time being and dips should be bought in search of a good R: R considering a stop loss under yesterday's low and a target in mentioned resistance.
Best of luck!
Mihai Iacob
My Yesterday's analysis:
EurUsd- New low's loomingLast week, EurUsd clearly dropped under parity and reached a low at 0.99.
After this low, we have 3 attempts to reconquer this important figure and all failed badly with Friday's spike leaving a very long-tailed pin bar on our chart.
Both technicals and fundamentals are aligned for a stronger USD and in EurUsd's case I expect a continuation to the downside and a drop to 0.97
I'm strongly bearish as long as 1.01 is intact and selling rallies can be a good strategy
My Previous EurUsd analysis
BTC/USDT - WHERE ARE WE HEADING NEXT? (AN UPDATE!)Last week we've called out the next pivot point as to where the BTC might be retesting, and boy we were accurate about it!
For our Weekly TF analysis for today, I have plotted the major points in bitcoin and it's trend shift from wayback 2017 to ATH and now..still in the bearish market.
2020 bearish market was affected by Covid-19. Hence why the price has dumped to 4k levels. We'll be waiting for another 3yrs to witness the next bullrun after late 2020 since it's been the pattern with this market.
This time, it's different since Fed Chair Powell signals that more interest hikes are incoming. And what does this mean in the market?
When interest rates rise, that means individuals will see a higher return on their savings. This removes the need for individuals to take on added risk by investing in crypto or stocks, resulting in less demand for both. It's bad for business in general.
On the technical side of things, we're currently trading at 20k as of writing this analysis. We're expecting a sell-off until 16k levels. Since we're heavy bearish, I'd hold-off my sells until it reaches our Major key level at 12-13k levels.
We have 4 majors news on USD for the coming week, so expect another volatile market and a volatile market brings a lot of opportunities for us traders.
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