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Euro Coils into Weekly Open- Fed on TapEuro is off more than 2% from the yearly high with EUR/USD carving the weekly opening-range just above multi-month uptrend support. From a trading standpoint, rallies would need to be limited to Friday’s high IF price is heading lower on this stretch with a break below the lower parallel exposing eh 2024 high at 1.1214 and 1.1160- both levels of interest for possible exhaustion / price inflection IF reached. Ultimately, a breach / close above 1.1420 is needed to threaten uptrend resumption. -MB
by FOREXcom
Watching carefully USDCAD this weekWith the abundance of US & CAN data this week, we may see some interesting action in USDCAD pair. Let's dig in. Let us know what you think in the comments below. Thank you. 77.3% 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. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK. Cryptocurrency CFDs and spread bets are restricted in the UK for all retail clients.
by Marketscom
NZDCAD Will Go Higher! Buy! Please, check our technical outlook for NZDCAD. Time Frame: 3h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 0.821. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 0.825 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
EURUSD: FOMC rate decisionThe week of macro data in the US started on Tuesday, with Jobs openings data. As per posted data, there have been 7.192M jobs open in March, which was below market expectation of 7,48M. The GDP Growth rate for the Q1 was standing at -0,3% for the quarter, which came as a surprise to the market, which was expecting to see the figure of +0,3%. Analysts are noting that this drop in economic output represents reflection of trade tariffs of the US Administration. The week-end brought the PCE data for March, which was closely watched by market participants, as this indicator represents Fed's favourite inflation indicator. As per published data, the PCE Price index reached 0% in March for the month, and 2,3% on a yearly basis. Figures were in line with market estimates. At the same time, core PCE was also at the level of 0%, beating market estimates of 0,1%. Personal Income in March was increased by 0,5%, while Personal Spending was higher by 0,7%. The ISM Manufacturing PMI in April was standing at 48,7, a bit higher from the forecasted 48. The Non-farm payrolls in April were increased by 177K, which was significantly above the market forecast of 130K. The Unemployment rate was without change from the previous month, at 4,2%. The GfK Consumer Confidence in May reached the level of -20,6, much better than forecasted -26. The Retail Sales in Germany dropped by -0,2% in March for the month, bringing the total figure to 2,2% on a yearly basis. The slowdown in retail sales was higher from market consensus of 3,2% on a yearly basis. The Unemployment rate in Germany remained stable at 6,3% in April and without change from the previous month. The GDP Growth rate in Germany for Q1 reached 0,2% for the quarter, while it stands at -0,2% compared to the previous year. Both figures were in line with market estimates. At the same time, the GDP Growth rate in the Euro Zone reached the level of 0,4% for Q1 and 1,2% on a yearly basis. The GDP growth rate for the Euro Zone beat market expectations of 0,2% for the quarter and 1,0% for the year. Preliminary inflation rate in Germany in April was 0,4% for the month and 2,1% on a yearly basis. The Inflation rate in the Euro Zone preliminary in April was at the level of 2,2%, while the unemployment rate was steady at the level of 6,2% The eurusd currency pair was mostly under sentiment of the US jobs data and consequently, its impact on the Fed rate decision in the coming period. In this sense, the US Dollar gained during the week, reaching its highest level at 1,1296 against euro as of the end of the week. The RSI started its move aways from the overbought market side, ending the week at the level of 56. It still does not represent the clear sign that the market is headed toward the oversold market side. The MA50 continues to diverge from MA200, after two lines made a cross, some three weeks ago. The week ahead is going to be a very important one, considering the Fed's rate decision on Wednesday. Prior and during this day, some increased market nervousness and volatility might be quite possible. Previously, the market was testing the 1,1460, historically important resistance level. There has not been enough market strength for this level to be breached, in which sense, the market reverted a bit toward the downside. Still, the support level at 1,12 has not been tested during the previous week. The 1,13 level historically is not significant, in which sense, it should not be expected that the market will spend too much time around this level. As per current charts, there is higher probability for the 1,12 level, which could easily be the next stop for the eurusd pair. At the same time, there is some probability that the market might return toward 1,1460 to test it for one more time. Charts are not pointing toward the potential of higher grounds, at this moment. Important news to watch during the week ahead are: EUR: Retail Sales for March in the EuroZone, Balance of trade in Germany in March, Industrial Production in Germany in March. USD: ISM Services PMI for April, FOMC Meeting and Interest Rate Decision will be held on Wednesday, May 7th, after which the Fed will held a press conference.
by XBTFX
USD/JPY holds within trend line - positive NFP news supports USD🔔🔔🔔USD/JPY news: ➡️ USD/JPY price decreased to 143.80 due to the weakness of the USD after the US employment report decreased compared to the previous month and Average Hourly Earnings m/m decreased slightly, However, NFP was better than the previous forecast, so this is probably support for the USD Personal opinion: ➡️ USD/JPY is still maintained in the trend line, the buyers have returned after the RSI almost entered the oversold zone and there are signs of slowing down of the sellers. ➡️ Analysis based on resistance - support levels and trend lines combined with EMA to come up with a suitable strategy Personal plan: 🔆Price Zone Setup: 👉Buy USD/JPY 143.80- 144.00 ❌SL: 143.40 | ✅TP: 144.50 – 145.00 FM wishes you a successful trading day 💰💰💰
Long
by FM-ForexMastermind
1
GbpJpy bullish outlook✅ Weekly bullish structure is intact, with price holding above key higher low zones ✅ Daily chart shows consolidation after bullish leg, forming potential continuation structure ✅ Clear bullish Extreme Trendline forming on H4 – price has bounced twice and is now near the 3rd touch ✅ Bullish rejection seen on M15 after retesting a minor RBS zone near 191.700 ✅ Demand zone around 191.000–191.300 seen on M15-H1, aligning with structure support and trendline
Long
by a_propatternfx
GBPUSD COT and Liquidity AnalysisCOT Report Analysis: Overall we can see strong bullish sentiment in the COT. and price will most likely continue higher- in the longterm. Longs 91K, Short 67K We can see longs decreasing = profit taking and pullback needed to rebuild. There is no heavy shorting = market is still Bullish , but long will be rebuild in lower prices. Hey what up traders welcome to the COT data and Liquidity report. This is a big part of my FX Trading. Im always trying to trade with the Big players so knowing their positions is good thing. Please be aware that institutions report data to the SEC on Tuesdays and data are reported on Fridays - so again we as retail traders have disadvantage, but there is possibility to read between the lines. Remember in the report is what they want you to see, that's why mostly price reverse on Wednesday after the report so their cards are hidden as long as possible. However if the trend is running you can read it and use for your advantage. I created this simple free indicator which you can find in the my scripts. It's highlighting the day of the real report - Tuesday. Here is the tip if the level has confluence with the high volume on COT it can be strong support / Resistance. Analysis done on the Tradenation Charts Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. "Adapt what is useful, reject what is useless, and add what is specifically your own." — David Perk aka Dave FX Hunter ⚔️
Short
by David_Perk
1
AUD/CHF BEARS ARE STRONG HERE|SHORT Hello, Friends! AUD/CHF pair is in the uptrend because previous week’s candle is green, while the price is clearly rising on the 12H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 0.513 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ✅LIKE AND COMMENT MY IDEAS✅
Short
by EliteTradingSignals
2
CADCHF 4H Short Opportunity from 0.6181 → 0.5835 (R:R ~8.5:1)Chart: 4-hour CADCHF Setup: Supply-zone rejection into downtrend continuation 🔍 Analysis Trend: Clearly lower highs & lower lows since late March. Supply Zone: 0.6180–0.6200 — price has stalled here twice and printed bearish wicks. Fibonacci Confluence: Entry sits at the 61.8% retracement of March–April swing down. Structural Support: Next major support cluster around 0.5850 (your TP), then 0.5800. 📈 Trade Details Entry: 0.61810 Stop-Loss: 0.62217 (just above supply zone) Take-Profit: 0.58349 (below April swing low) Risk: 40.7 pips Reward: 346.1 pips R:R: ~8.5 : 1 🛠️ Execution & Management Wait for a clear bearish candle close (engulfing, pin-bar) at 0.6180–0.6200 before entry. After +50 pips, move stop to breakeven to eliminate risk. Consider scaling out 50% at 0.5950 (swing-to-swing) and let the rest run to 0.5835. Monitor CAD catalysts (BoC, oil PMI) for sudden volatility spikes. dont forget leave comment
Long
by ericelifyose
1