The dollar is forming a bullish trend amid the US regulators backing the index. The price at the same time is forming a strong support area at 103.987, trying to consolidate above 104.0
FOMC's Bostic speaks today at 13:00 GMT and may give some comments and then before the main meeting at 19:00 GMT, Bowman will speak at 18:00. Quite important personalities who last time refuted all the statements of Powell, who blabbed about a rate cut in February-March.
Inflation in the USA is experiencing difficulties and has grown a bit, after that the Fed changes its view and postpones a possible rate cut to the summer.
Based on the general picture, we can make a guess that at today's meeting they will again hint at an unlikely rate cut and high inflation. But let's not forget about the politics of the US President in the election race :)
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👑 Ideas For XAUUSD / GOLD
📈 GOLD - Price tests resistance ahead of FOMC meeting
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GOLD is testing 2030 and forming a false breakdown. Today the market is waiting for news from the FOMC, where they are likely to discuss inflation, interest rate and may make some statements. At this time the metal price is forming the range of 2030 - 2016
Globally, gold is flat as investors are confused by the US market regulators. But, interest in the metal is still high from the Central Bank, at the same time the GOLD-ETF is caught up in a wave of sell-offs due to the Fed's sharp statement last week about a possible interest rate cut in summer instead of spring.
Technically, gold may head towards 2020, 2016 support from resistance. But, at the time of news, the price may test 2029 and 2037 before further correction to these targets.
Resistance levels: 2029, 2037
Support levels: 2020, 2016, 2004
The market is neutral and the price is moving between strong levels. Most likely, on the background of the FOMC speech, the price may again form a bearish correction after the resistance retest.
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#XAUUSD 👑
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👑 Ideas For XAUUSD / GOLD
📈 GOLD → Growth towards the liquidity area. False breakdown?
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GOLD on high timeframes continues to form a sideways movement, but at the same time is in the selling zone. The market is still under pressure from the negative fundamental background.
Gold is in panic zone on H1. The price is trying to go outside the descending channel while the US market is resting. Technically, the MarketMaker has an interest to rise to the area of 2029, as there is a rather large pool of liquidity hiding there. On the background of a possible strong distribution may form a retest of resistance in the format of a false breakdown, which would mark a further decline from 2029 to 2020-2016.
BUT, consolidation above 2029 will give confirmation of local trend change within the global flat.
Resistance levels: 2023, 2029, 2037
Support levels: 2020, 2016, 2010
A rise towards 2029 may soon follow, a quick move up will allow to reach the liquidity area. But because of this distribution we have a high chance to see a false breakdown of 2029 with further decline to support
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#XAUUSD 👑
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👑 Ideas For XAUUSD / GOLD
📈 GOLD → Retest of downtrend resistance. Low volatility on Monday
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GOLD is redeeming part of the fall that occurred on Tuesday. The price is testing trend resistance amid the correction, but the negative fundamental background is still in place
There is no news today, as the USA is celebrating the President's Day.
Technically, buying back positions is not an uncommon maneuver from a market maker who has the task to get back some liquidity from speculators who had time to open trades in the right direction. Also, the area of 2029 is an attractive zone and we have a high enough chance to retest this resistance.
But, after breaking through the channel resistance, there is no upward impulse, which would indicate a change of trend. XAU is currently in a narrow consolidation and may soon test the 2016 support and the previously broken channel boundary. If a false break of trend resistance is formed, a sell-off phase towards 2000-1998 will begin.
Resistance levels: 2020.9, 2023, 2029.4
Support levels: 2016, 2015, 2011
The price is in the 2020.9 - 2016 consolidation. A break of one of the boundaries will give temporary potential. If resistance is overcome, price will head towards 2029.4 before falling further. But, a breakout of 2016-2015 will form a phase of decline to the mentioned targets on the chart
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#XAUUSD 👑
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Hello friends 👋
I hope you are spending this weekend very productive 😎
I didn't post anything today, I made myself a little day off 🙂
Let's start preparing for the trading week, we will start working tomorrow 💪
The all-too-familiar situation of the psychological market cycle.
By the way, this situation fits quite clearly into the current behavior of the cryptocurrency market, namely #bitcoin :)
What phase do you think the flagship of the cryptocurrency market is in)?
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On Telegram, I'll be posting the idea in installments. You can go to TradingView and look at the full article with charts
Also, you can leave a comment if you want to 🙂
https://www.tradingview.com/chart/BTCUSD/aNcABCxW-BITCOIN-Is-a-correction-before-growth-possible-New-targets/
👋 I'm preparing a #BTC 💰 review for you 😉
I wonder how many people trade cryptocurrency 🤔
Shall we make a poll?) 📊
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China, Russia and Turkey will continue to increase the share of gold in reserves. It's more volatile than U.S. government bonds, but it's liquid. It is one of the few assets that are outside the financial system - former chief investment strategist at Bridgewater Associates ($196 billion under management) Rebecca Patterson
-- -- --
Citi doesn't rule out gold at $3000 over the next 12-18M
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💡 Ideas For USDJPY 🇺🇸🇯🇵
📈 USDJPY - The currency pair is preparing to make a new high
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USDJPY is technically poised to hit a multi-month high. Against the backdrop of a strong dollar, the JPY is losing ground as the Central Bank of Japan is failing or is not going to do its job
On D1 we see a global setup, where the fact that the market wants to break through 150.286 - 151.944 becomes quite obvious. Regarding the lower boundary - 150.286, a pre-breakout consolidation is formed and the market is preparing to overcome the boundary.
On H4 the pair is testing the trend support, but at the same time it is forming a wedge on the base of the descending resistance. A local bullish setup is forming on the chart. A break of the pattern resistance could form an impulse to 151.85 and further to 153.
Support levels: 149.5, 148.8
Resistance levels: 151.85, 153.0
I expect growth after the end of consolidation formation. The signal for the growth continuation will be the breakthrough of the "descending wedge" pattern resistance.
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Yesterday, one of my subscribers, who has been following my channel for quite a long time and comments very often, for which I thank you very much, shared with me a "problem broker", who draws candlesticks and apparently makes money on the knocked down stoplosses of his clients.
He encountered the very same "broker - kitchen 💩"
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Brief overview and determination of FOREX direction
#EURUSD 🇪🇺/🇺🇸 - LONG 📈
A resistance retest is being formed. If the dollar continues to fall, which is possible, the currency pair will break 1.07955
#GBPUSD 🇬🇧/🇺🇸 - SHORT 📉
Consolidation continues. From 1.26329 the price may fall to 1.25180
#USDJPY 🇺🇸/🇯🇵 - LONG 📈
Yen weakness is strongly pronounced. The pair will continue its growth from 149.7 to 151.9
#NZDUSD 🇳🇿/🇺🇸 - LONG 📈
The double bottom allows the pair to strengthen on the background of possible decline of the dollar. Target 0.6208
#USDCHF 🇺🇸/🇨🇭 - SHORT 📉
False break of 0.88206. On the background of a possible decline in the dollar, the pair may form a correction to 0.875 or 0.868.
#USDCAD 🇺🇸/🇨🇦 - NEUTRAL
Consolidation. Range forming, no potential entry point.
#XAUUSD 👑 - LONG 📈
False break of support. At the same time the price is inside the range. Possible growth to 2030 - 2040
#DXY 💲 (Dollar) - SHORT 📉
A small correction and a false breakdown. The index may fall to 104 or 103.5
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💡 Ideas For CHZUSDT 💰
📈 CHZUSD → A break of resistance will strengthen the bullish trend
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CHZ has been in the stage of forming an uptrend for the last half a year, but lags behind the general movement of altcoins. But, the coin is testing trend resistance, the break of which may give a surge of volatility
On the weekly timeframe, the market has obviously formed a bottom at 0.05, after which a reversal set-up with a positive long-term perspective is formed. But, for such realization the price needs to leave the resistance of 0.1640 range.
On D1, the price is testing the resistance of the uptrend for a breakout. It is possible correction and retest of the nearest support area: 0.11637 - 0.10981. But, consolidation above the channel resistance and above 0.12000 will form a gorgeous bullish potential to realize a bullish distribution towards 0.14 and 0.18.
Resistance levels: 0.120
Support levels: 0.11637, 0.10981
I expect that the attempt to break through the resistance may be successful. The coin has a little bit delayed with its growth and in the near future can show a good result of 19%, 30% and 50%
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#CHZUSDT 💰
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💡 Ideas For EURUSD 🇪🇺🇺🇸
📈 EURUSD → Pre-break consolidation. What could happen?
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EURUSD may try to break resistance and there are several prerequisites for this from a technical analysis point of view
The dollar index is trading quietly today as the US celebrates the President's Day. Volatility may be low, but there are preconditions on the chart that prepare the index to decline and the euro to rise. Index: price continues to tighten to support after a shakeout (long candle shadow) was formed. EURUSD relative to the channel resistance on H1 and 1.0785 level is forming a pre-breakdown consolidation after a pullback from the range support. The currency pair is testing a resistance breakout attempt and price consolidation above 1.07850 will form the potential for bullish distribution.
Resistance levels: 1.0830, MA-200, 1.0887
Support levels: 1.0785, MA-50
I expect to see an attempt to break the trend resistance, with a high probability it can be successful, but this chance is not 100% percent. Consolidation above the above mentioned area may give us a chance
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#EURUSD 🇪🇺/🇺🇸
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💡 Ideas For BTCUSD 🪙
📈 BITCOIN → Is a correction before growth possible? New targets?
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There is an obvious strong bullish trend in the market. The price is overcoming the trend resistance, which technically can accelerate the strengthening phase of the price. But, before further growth, from a technical point of view, the flagman may test the support area (previously broken resistance), and in addition, the counter-trend correction is also a kind of liquidity consolidation. It would be good for the market to form another liquidity pool and local bottom before further growth to 53K, 58K and towards ATH.
Both technically and fundamentally BTC is quite positive. Globally - the price is leaving the 51K - 42K range and thus makes us realize the situation that further promising targets are still ahead.
Fundamental:
•- outflows from GBTC have significantly decreased
•- total open interest in BTC on major exchanges increased to the highest since April 2022
•- net inflows into spot BTC-ETFs have been sustained for 15 consecutive days
•- BTC was included in the investor education program
•- BTC remains the most discussed token among the crowd
Support levels: 51256, 50986, 0.236 fibo, 48435
Resistance levels: 52884, 53524
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#BTCUSD 🪙
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💡 Ideas For BTCUSD 🪙
📈 BITCOIN → Is a correction before growth possible? New targets?
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BTC is in a strong growth phase, updating the highs of December 2021. The price does not reach the 53K level and may forge a correction to support before further growth.
Why we should wait for a correction:
Market potential (technical component) may get temporarily depleted and price may forage a correction to support to capture liquidity before rising further.
On the 1-hour chart, the market is forming a consolidation in the range of 51k - 53,500. But at the same time the price bumps into the resistance and starts to feel some pressure from the sellers. There is nothing terrible in it, there is a chance for a technical pullback.
It is worth paying attention to three possible scenarios regarding the correction to the support, indicated on the chart.
In our case, the first liquidity area is the zone: 51256. The breakout and consolidation below the level will form a small liquidation and will be able to reduce the price to 0.236 fibo or to 48435. And the breakthrough of 48435 may provoke rather strong sell-offs. But against the general background it is unlikely. False breakout of one of the mentioned levels followed by consolidation above the level is the main pattern that will resume further growth.
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Coinglass: Cumulative open interest in BTC on major exchanges rose to highest since April 2022
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outflows from GBTC significantly decreased
Net inflows into spot BTC-ETFs have been sustained for 15 consecutive days
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The dollar index declined early Friday as currency traders assessed fresh reports from the US. However, it is still on track to end the fifth consecutive week with green candles. And this is likely to happen as PPI at 13:30 GMT gets 0.3% instead of the expected 0.1% is a bullish sign for the index.
The data package painted a mixed picture for the US economy, with January retail sales registering a pronounced drop. Shoppers spent 0.8% less in the first month of 2024 than a month earlier, suggesting that the mighty US consumer entered the year with less energy after a flurry of holiday shopping.
Consequently, the US dollar moved sideways against other currency players. The EURUSD was trading above $1.0750 after two days of gains. The USDJPY remained above ¥150.00 after rising earlier in the week. And GBPUSD remained unchanged near $1.26 after the U.K. released a soft inflation report for January on Wednesday.
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