After a prolonged period of consolidation, GBP/JPY looks primed for an upward move following last week’s daily trendline break. Momentum could drive prices higher early in the week, or we may see a retest of the trendline before pushing toward the range high. Will the breakout hold? Stay tuned for key levels and potential trade setups!
Europe is embarking on an ambitious chapter of economic revitalization, marked by expansive fiscal measures and a renewed sense of unity in policymaking. Against this backdrop, the Euro seems well positioned to embark on a sustained upward journey, potentially reversing years of lackluster performance and ushering in a prolonged bullish phase. One of the strongest pillars supporting this outlook is the growing anticipation that the ECB may soon hit the brakes on its monetary loosening. With the current policy described as having shed much of its restrictive bite, ECB leadership might opt for a strategic pause perhaps as early as spring 2025. This shift would allow time to gauge the effects of shifting trade landscapes, bold budgetary commitments and the unpredictable currents of global politics. A steadier monetary stance could serve as a springboard for the Euro’s ascent, offering stability amid a flurry of change. However, this optimistic scenario is not without its shadows. Rising friction in trade relations, particularly with the United States, looms as a significant wildcard. Equally critical is Europe’s capacity to translate its grand fiscal vision into tangible results. The coming months will act as a proving ground, revealing whether this pivotal moment can ignite a durable economic spark or if internal missteps and external storms dim the Euro’s shine. On the technical front, the pair’s recent vigor paints an encouraging picture. The drop from its 2023 high of 1.1274 now looks like a completed correction, having bottomed out at 1.0176 after a three phase decline. Should the pair decisively reclaim that 1.1274 level, it could reignite the upward momentum that kicked off from the 2022 trough of 0.9534. Analysts might then eye a target near 1.1916 a level derived by projecting the full rally from 0.9534 to 1.1274 upward from 1.0176 marking a notable milestone in the Euro’s recovery. Even more compelling is the possibility that such a surge could shatter a descending trend line that has capped the Euro’s ambitions for over twenty years( Pink Line). Breaking free of this long standing barrier would signal more than just a fleeting rally...it could herald a fundamental shift, positioning the Euro for a multi year bullish era. In essence, the Euro stands at a crossroads, buoyed by promising monetary recalibration, aggressive fiscal plans, and technical tailwinds. Yet.....its journey to a lasting bull run hinges on navigating a gauntlet of risks—from trade disputes to execution challenges. As Europe strides toward this defining moment, the Euro’s trajectory remains a tantalizing blend of potential and peril, with the next chapter still unwritten. Let's find out which one it is. Cheers
A detailed examination of the 4-hour chart reveals a significant reversal pattern, wherein a series of bullish order blocks (BOSES) have given way to a bearish change of character (CHOCH). This marked shift in momentum has effectively flipped the trend from bullish to bearish. Currently, gold prices are testing a critical Fibonacci retracement level, coinciding with a clearly defined order block. Our analysis suggests that gold is poised for a downward move, with two distinct selling zones presenting opportunities for potential short positions: - Zone 1: 2,910 - 2,920 - Zone 2: 2,935 - 2,945
1- Impulsive move to the up side 2- Followed by slow correction 3- Retracement to 61.8% of Fibo. Retracement 4- Hidden Divergence 5- Bullish Flag Pattern 6- Expect another move to the UP Side.
Last Week's Record Surge: The British pound experienced a significant surge last week, driven by weak U.S. economic data and increased expectations of Federal Reserve rate cuts. The pound's strength was further supported by positive economic reports from the UK and the Eurozone. The British pound has been performing well, mainly due to the weakness in the U.S. dollar and prevailing uncertainties. There's a weekly Bullish Institutional Sponsorship Index (BISI) at 1.3131, attracting price and liquidity at 1.3050, which suggests a continued bullish bias. Key Levels to Watch: Weekly BISI: 1.3131 Liquidity: 1.3050 On the daily chart, there's a BISI at 1.2865 and a daily inversion fair value gap (FVG) at 1.2850. Price is likely to fill these gaps before heading higher. Key Daily Levels: Daily BISI: 1.2865 Daily Inversion FVG: 1.2850 Additionally, on the 4-hour chart, there's liquidity at 1.2866 and a 1-hour BISI at the daily inversion FVG of 1.2850. 4-Hour and 1-Hour Chart Insights: 4-Hour Liquidity : 1.2866 1-Hour BISI: 1.2850 (Daily Inversion FVG) Targets for the Week: Target 1: 1.2945 Psychological Level: 1.3000 Target 2: 1.3050 DXY Confluence : The U.S. Dollar Index (DXY) is being attracted to the sell-side at 103.400. Note: This week is packed with significant news events, including the CPI release, which could impact market movements.
Bitcoin’s next move is setting up to be massive, but not everyone is ready for what’s coming. In this video, Dylan shares the brutal truth about where Bitcoin is headed and the reality of this bull market. In the process, he will also share what opportunities may lie in between for traders to take advantage of! Follow us on:
https://www.tradingview.com/x/WHpzX3pd/ ✅NZD_CAD is trading in a Local uptrend and the made A bullish breakout of the falling Resistance line which is now A support and the pair made a Retest of the line and is already Making a bullish rebound So we will be expecting a Further bullish move up LONG? ✅Like and subscribe to never miss a new idea!✅
The Euro received the expected reaction from the daily FVG, but the main intrigue is whether there will be an exit from the zone, a retest and further impulse in the short? If the scenario is confirmed, the path to the lower targets opens. We are waiting for the development of events and are monitoring the key levels!
Key Indicators On Trade Set Up In General 1. Push Set Up 2. Range Set up 3. Break & Retest Set Up Notes On Session # iRhythm Technologies Inc Stock Quote - Double Formation * (Diagonal) | Completed Survey & Entry Bias * (Area Of Value) & Inverted Pattern Confirmation | Subdivision 1 - Triple Formation * (Continuation Argument)) | Channel Entry | Subdivision 2 * (TP1) | (Uptrend Argument) | Subdivision 3 * Daily Time Frame | Trend Settings Condition - (Hypothesis On Entry Bias)) | Indexed To 100 - Position On A 1.5RR * Stop Loss At 130.00 USD * Entry At 151.00 USD * Take Profit At 184.00 USD * (Uptrend Argument)) & Pattern Confirmation * Ongoing Entry & (Neutral Area)) Active Sessions On Relevant Range & Elemented Probabilities; European-Session(Upwards) - East Coast-Session(Downwards) - Asian-Session(Ranging) Conclusion | Trade Plan Execution & Risk Management On Demand; Overall Consensus | Buy
I expect Bitcoin to be bullish again and return to the sell zone next week and enter a consolidation period before a big drop. PS: Dont pay attention to the dates.. The consolidation period may take shorter or longer.