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GBPNZD SHORT SETUP AFTER EURO NEWSOn gbpnzd, we have a bearish setup after the trendline breakout this morning following the Eurozone PMI data. The price is heading towards the 2.0485 area, where we have a POC (Point of Control), which is a specific entry point for a long trade if the price reaches and bounces from the POC, representing the highest concentration of orders. In that zone, the market could rebound with a target at 2.0850. Leave a like to support our work, comment, and share your analysis. Greetings from Nicola, the CEO of Forex48 Trading Academy.
Short
by EdgeTradingJourney
4
EUR/CAD TRADE LONG AFTER NEWS - H1In the EURCAD pair, we have a long setup with the price about to break a supply zone, starting from a demand zone at 1.47. After the breakout, I expect a bounce as the price could form a pattern of our invention, called Forex48 Block. Here, we could enter long with a target around 1.4870. Let me know what you think, share your analysis, give a like to support our work, and have a great day of trading from Nicola, the CEO of Forex48 Trading Academy.
Long
by EdgeTradingJourney
4
AUD/USD SHORT TRADE H1 - WAITING FEDOn AUD/USD, we have a bearish setup, with the price possibly bouncing back to the 0.6745 area before further descending, as we have a FVG there, which means a point of high probability of reversal. The price could then drop to the 0.6670 zone, where, in addition to a bullish FVG, we also have a Forex48 block, providing two points of reversal that the price could use to consolidate for a few hours/days before pushing upward. This is assuming confirmation on M15 + H1 timeframes. Let me know what you think. Have a great day and happy trading from Nicola, the CEO of Forex48 Trading Academy
Short
by EdgeTradingJourney
USD/CAD BULLISH SETUP H1- FED RATES!!!On USDCAD, we have a bullish setup with the price in the 1.3224 zone. There's a bullish trendline with a double bounce, and we're anticipating a third bounce around 1.32020, where we also have a Volume Profile Gap (FVG). This presents excellent opportunities for the price to rebound at that point and go long, with a potential target around 1.327, which is a sell area due to the presence of a Forex48 block – an area with a high reaction if the price approaches it with the right confirmations on the M15 timeframe. The important thing is not to let FOMO (Fear Of Missing Out) take over but always stick to your own trading plan. Have a great weekend and happy trading to everyone from Nicola, the CEO of Forex48 Trading Academy.
Long
by EdgeTradingJourney
2
XAUUSD NEUTRAL WAITING NFPOn XAUUSD, we have an uptrend as highlighted by this trendline, which has been touched three times and the price could potentially touch it for a fourth time before continuing the upward movement, breaking out of this supply zone towards 1950. However, the price could also decline by breaking the trendline and subsequently retesting it before falling to 1890. Please share your opinion and support our work with a like. Happy trading to everyone from Nicola, CEO of Forex48 Trading Academy.
OANDA:XAUUSD
by EdgeTradingJourney
1
USDCAD Waiting the convalidation!On USDCAD, we have a critical setup, which means that the price is at a point of demand and supply at the same time. By analyzing the chart, I can infer that the price could drop to 1.3530, creating a short setup, and then bounce back to the supply level before descending further with a target at 1.34. Alternatively, the price could retrace directly to 1.3540, creating a long setup with a target at 1.3590. Both of these views are supported by spike validations on the order blocks. Let me know what you think. Happy trading to everyone.
by EdgeTradingJourney
GBPJPY SHORT SETUP H1GBPJPY is presenting a bullish structure this morning. The price is approaching the 170.48 area, where we have a supply zone. At that point, the market formed a short setup on May 10th, confirmed by the Forex48 1.0 strategy. Additionally, the price at this point could bounce off a bearish trendline, completing the third touch. The target for the short entry is indicated in the 168 area. Let me know what you think. Happy trading to everyone. Forex48 Trading Academy
Short
by EdgeTradingJourney
XAUUSD Bullish Triangle H1XAUUSD presents a bearish triangle with two possible scenarios. Currently, the price is in the 2018 supply zone after a false break of the trendline. The objective will be to wait for a confirmation of a breakout either to the downside or to the upside of the triangle. The upside breakout seems to be more likely given the negative sentiment towards the dollar and the positive weekly prospects for the euro. I recall the data on the dollar this week. Let me know what you think. Happy trading to everyone. Forex48 Trading Academy
OANDA:XAUUSDLong
by EdgeTradingJourney
CADJPY Two potential bearish setupsOn CADJPY, we have a bullish setup since Thursday. Currently, the price is around 100.70 and rapidly ascending. The expectation is for a bounce around 100.95, where we have a supply zone with a bearish setup identified by the Forex48 strategy. In addition to this potential entry, we have another one around 101.60. Both entries look promising; we will see which one the market favors. Let me know your thoughts. Happy trading to all. Forex48 Trading Academy
Short
by EdgeTradingJourney
XAUUSD Ready for the big news tomorrow! On gold, we have a complicated setup, with the sudden strengthening of the dollar despite the negative scenario, while gold tries to push towards 2100. Currently, we have a price around 2015 within a strong demand zone. The objective will be to wait for a long or short setup within this zone, with a target of 2050 in case of a long trade and a scenario of 1976 in case of a short trade. Let me know what you think. Happy trading to everyone.
OANDA:XAUUSD
by EdgeTradingJourney
AUDCHF Setup H1 - Is It short?On AUDCHF, the Forex48 strategy has identified a supply zone at 0.6030, where a setup for a short trade has formed. Currently, we have a weak AUD, but it could recover and potentially bounce back to the mentioned zone overnight after the news. However, I predict a decline with the strengthening of the Swiss Franc, which is traditionally a safe haven currency, given the weak strength of the dollar in this historical period. Let me know what you think. Happy trading to everyone. Forex48 Trading Academy
Short
by EdgeTradingJourney