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Potential bullish rise?NZD/CAD is reacting off the pivot which has ben identified as a pullback support and could rise to the 1st resistance which acts as a pullback resistance. Pivot: 0.83331 1st Support: 0.82507 1st Resistance: 0.84292 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
THE KOG REPORTTHE KOG REPORT In last week’s KOG Report we said we would be looking for more downside movement on Gold and gave the weekly bias level of 2335 with targets below 2310 and below that 2395. We also informed traders to watch out for the extension of the move into that 2340 which is where we ideally wanted to short the market for the bigger capture. We suggested early longs into the levels above, and once there we confirmed the move not only did we get the long trades, we got the opportunity to take that short trade all the way back down to complete the bias level targets. It’s at this lower level we suggested taking the early long back up, again netting a fantastic return, following Excalibur all the way to where we closed the month. During the week, we also update traders on the intra-day movement highlighting the levels to look for RIPs and opportunities to capture the counter movement, which also worked extremely well completing a fantastic week for the free analysis, but a phenomenal week on Gold targets in Camelot. Well done to our community and team for another great month of completed targets. So, what can we expect in the week ahead? We’ll start by saying it’s the first week of a month and quarter, so best practice would be letting the market settle for the new month, especially the first few days. We also have a lot of news this week which is guaranteed to drive the markets to extreme levels aggressively, coupled with choppy price action. New traders really should be sitting out with the attitude that cash in your account is a position in the market, a very strategic one! Although we ended the month with a bullish daily, we’re not seeing any confirmed movement to complete the upside levels as yet! So, we’ll begin the week with caution and look at the immediate levels of support sitting around the 2313 and above that 2317 levels. If we begin the week with an attack on those levels and face strong support, it’s here we may get an opportunity to long back up into that 2330 -35 region with the extension of the move again the 2345-50 price point, which for this week is our bearish below level. This level above if targeted is important, as breaking above here will take us back up to target that 2270-75 region, which believe it or not, is still in this range! It is however these higher levels we want to be monitoring closely for signs of rejection, and if we get them we feel there is an opportunity to short again from higher up into the lower levels as suggested on the chart. We have our active targets and the prices we’re looking for but would suggest level to level trading for this week at least, with tight stops! We’re going to keep it simple this week and say that’s the main move we’re looking for unless we break below 2316-20 and hold, in which case the plan completes before we get any more opportunities to add to shorts from higher again. KOG’s Bias for the week: Bearish below 2345-50 with targets below 2310 and below that 2290 Bullish on break of 2345 with targets above 2360 and above that 2370 We’ve added the key levels on the charts for you this week with the text, “Bearish below, Bullish above etc” which we hope will help you stay in the right direction and manage your trades. As usual, we will update you with our plans and wish you a successful week ahead. Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
8
GBPUSD | Swing & Fundamental AnalysisFinally, the market has reacted after the decisions of the FED, BOC, BOE, ECB, BOJ, CPI, NFP, breaking free from a congestion phase. Today's data highlighted the resilience and strong growth of the American labor market, with inflation still below the 2% target. The possibility of a Fed rate cut in June is on the table, but remains uncertain; I strongly doubt it will happen in March or May. GBPUSD presents a bearish structure with an H4 candle that broke the entire structure, landing in the demand zone at the 1.262 level. Personally, I foresee a continuation to the downside, at least below 1.26, then retracing to the 50% Fibonacci level and consolidating in the reversal zone intersecting with the trendline, before continuing the downward trend towards the 1.2520 area as the final target. This is what I am currently observing at the H4 level. In summary, it's time to celebrate because after two weeks of sideways movement, today we've seen the first signs of momentum from the market. So, get ready for a spectacular start to the week with an acceleration from traders. Greetings and happy trading to everyone from Nicola.
Short
by EdgeTradingJourney
1