AFTER BREAKING ALL RECORDSIn a historic week for precious metals, gold futures broke past records to hit new highs. Markets are now turning their attention to next week’s Federal Open Market Committee (FOMC) meeting.
Foerxsignals
Reacting off pullback support?CAD/JPY is reacting off the support level which is a pullback support that lines up with the 127.2% Fibonacci extension and could bounce from this level to our take profit.
Entry: 115.53
Why we like it:
There is a pullback support that lines up with the 127.2% Fibonacci extension.
Stop loss: 114.92
Why we like it:
There is a pullback support that lines up with the 161.8% Fibonacci extension.
Take profit: 116.97
Why we like it:
There is an overlap resistance level which is slightly above the 38.2% Fibonacci retracement.
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XAU Continues strong upward momentumWorld gold prices increased slightly today as investors waited for the US to announce inflation data in the next few days to predict when to cut interest rates.
The information that may surprise the gold market in the next few days is the US core personal consumption expenditures index (PCE) - an important inflation measure of the US Federal Reserve (FED).
The dollar slid to its lowest in more than a week, making gold cheaper for holders of other currencies.
Gold prices in Asian markets almost went sideways during the trading session on May 28, when the USD weakened. Meanwhile, investors are waiting for important US inflation data to give clues about when the US Federal Reserve (Fed) will cut interest rates.
“The outlook for a stronger USD is supported by a change in the US monetary policy stance, as the Fed begins to look for evidence to raise interest rates instead of easing monetary policy which could be a risk. big for the gold market.
AUDJPY 4hour Analysis October 16th, 2022AUDJPY Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: AJ is also looking very bearish going into this week.
Ideally, price action can form a clear lower high below 93.000 resistance and give us good entry opportunities.
Look to target lower toward 91.000 support.
Trade scenario 2: For us to consider AJ more bullish we first would need to see a break back above 93.000 resistance with a confirmed higher low above.
EURUSD Down Trend.!#EURUSD Looking for Sell trade setup as I mentioned in the Chart.!
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EURJPY SELLFOREX SIGNAL:
📊EURJPY 📉 SELL 129,87
⚖️RR 1:3
📌SL 130,43
✅TP 129,67
✅TP 129,31
✅TP 128,81
TLGM: TRANSPARENT SIGNALS
