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AmegaFX

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  1. GOLD overview 02.08.2021 Gold falls on improved risk sentiment. Gold continues to fall today as an increase in appetite for riskier assets weighed on the safe-haven gold. The sentiment across the global financial markets remains upbeat today with European stocks scaling fresh peaks, driven by deal making activity and strong results from Europe’s biggest bank HSBC. Global risks sentiment is also improving on reports that the vaccines currently employed are largely effective again the Delta variant spreading fast across the European continent – meaning its spread will not have significant effect on the economic growth in the region. This is driving safe-haven outflows from Gold into dollar ahead of the non-farm payroll report due on Friday. Expect sellers on upward corrections. Next support to watch – 1793.00
  2. EURUSD 02.08.2021 Medium-termtrend: Bullish The bull market is continuing. The price has already reached the target zone №1 1.18485-1.18397 and it is going to the target zone №2 1.19365-1.19277. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 1.18206-1.18118. In case of the price is fixed below the control resistance zone the medium-term trend will be changed to the bear market and all long positions should be closed. Trading recommendation: It’s recommended to try to have a long position near the control resistance zone 1.18206-1.18118 (100 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15. The control resistance zone is constructed from the current maximum. If this maximum changes by n points the zone should also be shifted n points up. The risk/reward ratio for every order should be at least 1/3. All zones are constructed on the basis of data from the CME futures market.
  3. AUDUSD overview 30.07.2021 AUDUSD falls on weaker China. AUDUSD under strong bearish pressure today under the effect of the wide-spread Australian dollar pessimism as its largest trade partner China suffers the investors outflows. China shares eye worst month since May 2019 after Beijing's announcement of new rules barring for-profit tutoring in core school subjects resulted in a significant rout in the country's equity markets. An index of emerging market shares fell on Monday as Chinese equities slipped on regulatory concerns, and was set for its worst month since a pandemic-led rout in March last year. The bearish pressure on Chinese equities intensified by severe coronavirus outbreaks in the region. This is translating into the selling pressure on the Australian dollar – as the global proxy of the Chinese-related sentiment. Expect sellers on upward corrections. Next support to watch – 0.7317
  4. GOLD 30.07.2021 Medium-termtrend: Bullish The bull market is continuing. The price has already reached the target zone №1 1845.10-1840.60 and it is going to the target zone №2 1890.10-1885.60. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 1789.08-1784.58. In case of the price is fixed below the control resistance zone the medium-term trend will be changed to the bear market and all long positions should be closed. Trading recommendation: It’s recommended to try to have a long position near the control resistance zone 1789.08-1784.58 (495 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15. The control resistance zone is constructed from the current maximum. If this maximum changes by n points the zone should also be shifted n points up. The risk/reward ratio for every order should be at least 1/3. All zones are constructed on the basis of data from the CME futures market.
  5. GOLD overview 29.07.2021 Gold rises as rate hike ruled out. Gold under the strong bullish pressure today after U.S. Federal Reserve Chairman Jerome Powell reassured investors that a rate hike is not on the cards anytime soon, sending the dollar to multi-week lows. Powell said the U.S. job market still had “some ground to cover” before it will be time to pull back support and the Fed was “ways away” from considering rate hikes. After Powell’s comments, the dollar slipped to a one-month low against its rivals, making gold less expensive for holders of other currencies. The gold is also rising as global demand for gold rose in the second quarter to its highest quarterly level in a year, as central banks and investors increased the purchases. Expect buyers on downward corrections. Next resistance to watch – 1834.00
  6. Watch out for the upcoming US Gross Domestic Product announcement and how could it affect EURUSD and other USD pairs.
  7. EURUSD 29.07.2021 Medium-termtrend: Bullish The bull market is continuing. The price has already reached the target zone №1 1.18485-1.18397 and it is going to the target zone №2 1.19365-1.19277. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 1.17699-1.17611. In case of the price is fixed below the control resistance zone the medium-term trend will be changed to the bear market and all long positions should be closed. Trading recommendation: It’s recommended to try to have a long position near the control resistance zone 1.17699-1.17611 (100 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15. The control resistance zone is constructed from the current maximum. If this maximum changes by n points the zone should also be shifted n points up. The risk/reward ratio for every order should be at least 1/3. All zones are constructed on the basis of data from the CME futures market.
  8. USDJPY overview 28.07.2021 USDJPY rises on stronger dollar. USDJPY under the bullish pressure today driven up by the U.S. dollar positive sentiment ahead of the outcome of a U.S. Federal Reserve meeting. The dollar has enjoyed a month-long rally after a hawkish shift from the Fed in June. Markets are waiting to see whether it will provide any clues on the timing of tapering later in the day amid surging U.S. inflation. The Fed will publish a statement at 1800 GMT today followed by a news conference from Chair Jerome Powell at 1830 GMT. Still, the chances are high that the Fed will not shift policy, given its view that the recent spike in inflation will likely be transitory and worries that growing COVID-19 cases could derail the global recovery. Expect buyers on downward corrections. Next resistance to watch – 110.60
  9. Watch out for the upcoming FED Interest Rate Decision announcement and its impact on EURUSD & other USD pairs.
  10. USDCAD 28.07.2021 Medium-termtrend: Bearish The bear market is continuing. The price has already reached the target zone №1 1.26289-1.26114 and it has a potential to reach the target zone №2 1.24559-1.24388. The best prices to try to have a short position are the control resistance zone 1.27182-1.27004. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed. Trading recommendation: It’s recommended to try to have a short position near the control resistance zone 1.27182-1.27004 (195 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15. The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3. All zones are constructed on the basis of data from the CME futures market.
  11. EURUSD overview 27.07.2021 EURUSD rises on dollar outflows. EURUSD under the bullish pressure today driven up by the U.S. dollar outflows after US Durable Goods Orders missed estimates with +0.8% in June. The report showed that orders were up 0.8% in June, much worse than the 2.1% expected. The core reading, Nondefense Capital Goods Orders ex Aircraft, surged 0.5% in the same month, also missing the market’s expectations. This led to the knee-jerk outflows from the U.S. dollar. The USD continues to weaken against its rivals after this data and the pair is expected to continue to rise ahead of this week’s U.S. Federal Reserve meeting which should provide clues on when the central bank might rein in its easy monetary policies. Expect buyers on downward corrections. Next resistance to watch – 1.1830
  12. USDCHF 27.07.2021 Medium-termtrend: Bearish The bear market is continuing. The price has already reached the target zone №1 0.91594-0.91485 and it has a potential to reach the target zone №2 0.90500-0.90393. The best prices to try to have a short position are the control resistance zone 0.92397-0.92286. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed. Trading recommendation: It’s recommended to try to have a short position near the control resistance zone 0.92397-0.92286 (125 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15. The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3. All zones are constructed on the basis of data from the CME futures market.
  13. EURUSD 26.07.2021 Medium-termtrend: Bearish The bear market is continuing. The price has already reached the target zone №1 1.18263-1.18175 and it has a potential to reach the target zone №2 1.17383-1.17285. The best prices to try to have a short position are the control resistance zone 1.18485-1.18397. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed. Trading recommendation: It’s recommended to try to have a short position near the control resistance zone 1.18485-1.18397 (100 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15. The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3. All zones are constructed on the basis of data from the CME futures market.
  14. USDJPY overview 23.07.2021 USDJPY rises on stronger dollar. USDJPY under the bullish pressure today as the U.S. dollar climbed to a three-month peak on Tuesday in a flight-to-safety bid, as investors remained worried about a fast-spreading Delta coronavirus variant that could damage global growth. U.S. infections have risen sharply, especially in areas where vaccinations have lagged. At the same time, an unwinding in speculative positions is forcing a short squeeze in currency markets – driving the dollar upward. The safe-haven strengthening in the dollar is reasonable to expect at this moment – considering that global progress has been slow as compared to Q1 so now all valuations and high expectations for growth are being rightly questioned. Expect buyers on downward corrections. Next resistance to watch – 110.65
  15. GOLD 23.07.2021 Medium-termtrend: Bullish The bull market is continuing. The price has already reached the target zone №1 1800.10-1795.60 and it is going to the target zone №2 1845.10-1840.60. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 1784.14-1779.64. In case of the price is fixed below the control resistance zone the medium-term trend will be changed to the bear market and all long positions should be closed. Trading recommendation: It’s recommended to try to have a long position near the control resistance zone 1784.14-1779.64 (495 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15. The control resistance zone is constructed from the current maximum. If this maximum changes by n points the zone should also be shifted n points up. The risk/reward ratio for every order should be at least 1/3. All zones are constructed on the basis of data from the CME futures market.

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