rfxsignals February 11, 2024 No Comments

Forex Week Ahead: February 12th-16th – Key Economic Events and Holidays

Forex Week Ahead: February 12th-16th – Key Economic Events and Holidays

Get ready for a busy week ahead as several key economic events and holidays will impact markets globally. Here’s a breakdown of what to watch:

Monday, February 12th:

  • Bank of Canada Statement on Low Interest Rates (SLOS): Will the BoC signal a shift in its monetary policy stance?
  • India: Consumer Price Index (CPI) for January, Export and Import data for January.
  • Holidays: China (New Year’s Eve), Hong Kong, Tokyo Stock Exchange closed.

Tuesday, February 13th:

  • OPEC Monthly Oil Market Report (MOMR): Insights into current and future oil market trends.
  • Sweden: Unemployment rate for January.
  • United Kingdom: Unemployment rate and wage growth data for December, Swiss Consumer Price Index (CPI) for January.
  • Eurozone: German ZEW Economic Sentiment Survey and overall Eurozone ZEW Economic Sentiment Survey for February.
  • United States: Consumer Price Index (CPI) for January, National Federation of Independent Business (NFIB) Small Business Optimism Index for January.
  • Holidays: China (New Year), Hong Kong Stock Exchange closed.

Wednesday, February 14th:

  • Indonesia: Presidential Election.
  • United Kingdom: Consumer Price Index (CPI) for January.
  • Norway: Gross Domestic Product (GDP) for December.
  • Eurozone: Employment data for the fourth quarter of 2023.
  • Japan: Gross Domestic Product (GDP) for the fourth quarter of 2023.
  • Holiday: China (Spring Festival)

Thursday, February 15th:

  • International Energy Agency (IEA) Oil Market Report (OMR): Global oil demand and supply outlook.
  • Australia: Employment data for January.
  • United Kingdom: Gross Domestic Product (GDP) for December and the fourth quarter of 2023.
  • Eurozone: Trade data for December.
  • United States: Import and Export Price Indexes for January, Initial Jobless Claims (w/e Feb 10th), Philadelphia Fed Manufacturing Index (Feb), Retail Sales, Industrial Production, Business Inventories (all for January).
  • New Zealand: Manufacturing PMI for January.
  • Holiday: China (Spring Festival)

Friday, February 16th:

  • Central Bank of Russia (CBR) Policy Announcement: Will the CBR adjust interest rates amidst ongoing geopolitical tensions?
  • United Kingdom: Retail Sales data for January.
  • Germany: Wholesale Price Index (WPI) for January.
  • United States: Building Permits and Housing Starts data for January, University of Michigan Consumer Sentiment Index (preliminary – Feb),.
  • Holiday: China (Spring Festival)

This is just a glimpse into the week ahead. Remember to stay updated on the latest news and analysis as these events unfold and potentially impact markets.

rfxsignals January 3, 2024 No Comments

Yen Eyes Strength: A Potential Short Trade on CHFJPY (January 03,2024)

Yen Eyes Strength: A Potential Short Trade on CHFJPY (January 03,2024)

The Japanese Yen (JPY) has shown signs of potential appreciation against the Swiss Franc (CHF), presenting a possible shorting opportunity on the CHFJPY currency pair. This article will delve into the technical and fundamental factors supporting this bearish bias, outlining the trade setup with entry, stop-loss, and take-profit levels, and emphasizing crucial risk management considerations.

Entry Price: 167.030 Stop Loss: 169.087 Take Profit: 165.168

Technical Analysis:

  • Downtrend Confirmation: CHFJPY has been trading in a descending channel since early November, suggesting waning bullish momentum.
  • Relative Strength Index (RSI): The RSI indicator recently dipped below 50, entering the “neutral” zone and potentially signaling a bearish reversal.
  • Moving Average Convergence Divergence (MACD): The MACD histogram is shrinking, hinting at weakening upward momentum.

Yen Eyes Strength: A Potential Short Trade on CHFJPY (January 03,2024)

Fundamental Factors:

  • Bank of Japan’s Dovish Stance: The Bank of Japan (BOJ) maintains an ultra-loose monetary policy, keeping interest rates at historically low levels. This dovish stance could weaken the Yen in the long run.
  • Swiss National Bank’s Hawkish Tilt: In contrast, the Swiss National Bank (SNB) has signaled a shift towards a more hawkish stance, hinting at possible future interest rate hikes, which could strengthen the CHF.
  • Risk Aversion: Geopolitical tensions and global economic uncertainties might prompt investors to seek safe-haven assets like the JPY, potentially causing it to appreciate against riskier currencies like the CHF.

Risk Management:

  • Stop-Loss Placement: The stop-loss is placed 2 pips above the recent swing high, safeguarding against unexpected upward spikes.
  • Take-Profit Target: The take-profit target is set 2 pips below the recent swing low, aiming to capture a portion of the potential downside move.
  • Position Sizing: Maintain a conservative position size, allocating only a small percentage of your capital to this trade.

Conclusion:

While the technical and fundamental factors suggest a potential downside move for CHFJPY, remember that the forex market is dynamic and unforeseen events can occur. Practice proper risk management, monitor the market closely, and adjust your trading strategy as needed.

Disclaimer:

This article is for informational purposes only and should not be considered financial advice. Please consult with a professional financial advisor before making any investment decisions

rfxsignals December 27, 2023 No Comments

EURUAD Buy Signal: Targeting Upside Potential in December 2023

EURUAD Buy Signal: Targeting Upside Potential in December 2023

The EURUAD currency pair has presented an attractive buy opportunity as of December 27, 2023. This article will analyze the trade setup, providing insights into the potential rationale behind the bullish bias and outlining key risk management considerations.

Entry Price: 1.62455 Stop Loss: 1.59439 Take Profit: 1.65269

Technical Analysis:

A technical analysis of the EURUAD chart reveals several factors supporting the buy signal:

  • Upward Trend: The pair has been trading in an upward channel since late October, suggesting continued bullish momentum.
  • Fibonacci Retracement: The current price coincides with the 61.8% Fibonacci retracement level of the previous upswing, indicating potential support and a possible bounce.
  • Moving Average Convergence Divergence (MACD): The MACD indicator recently generated a bullish crossover, further reinforcing the upward bias.EURUAD Buy Signal: Targeting Upside Potential in December 2023

Fundamental Factors:

Beyond technicals, fundamental factors might also contribute to the EURUAD’s upside potential:

  • European Central Bank (ECB) Hawkish Stance: The ECB’s recent hawkish rhetoric, hinting at further interest rate hikes, could strengthen the Euro against the weaker Dollar.
  • Geopolitical Tensions: The ongoing war in Ukraine and potential recessionary fears in the United States might boost demand for safe-haven currencies like the Euro.

Risk Management:

As with any trade, careful risk management is crucial. Here’s how we can approach it in this case:

  • Stop-Loss Placement: The stop-loss is placed 30 pips below the entry price, limiting potential losses if the trade doesn’t go as planned.
  • Take-Profit Target: The take-profit target is set 30 pips above the recent swing high, aiming to capture a portion of the potential upside move.
  • Position Sizing: Manage your position size wisely, allocating only a small percentage of your capital to this trade.

Conclusion:

The EURUAD buy signal presents a potentially lucrative opportunity for forex traders in December 2023. While technical and fundamental factors provide some backing for the bullish view, remember that the forex market is dynamic and unforeseen events can occur. Always practice proper risk management and adapt your trading strategy accordingly.

Disclaimer:

This article is for informational purposes only and should not be considered financial advice. Please consult with a professional financial advisor before making any investment decisions.

rfxsignals December 12, 2023 No Comments

Potential Long Trade Opportunity in NZDUSD: Buy at -0.61205, Target – 0.63818, Stop-Loss – 0.59910

The NZDUSD currency pair has recently presented a potential long trade opportunity, offering a favorable risk-to-reward ratio. Here’s a breakdown of the trade setup:

Trade Signals:

  • Entry Price: -0.61205
  • Stop Loss: -0.59910
  • Take Profit: -0.63818

Analysis:

NZDUSD BUY 12 12

Technical analysis suggests that NZDUSD might be poised for an upward movement, potentially breaking through recent resistance levels. Here are some key observations supporting this analysis:

  • Bullish Flag Pattern: A bullish flag pattern has formed on the daily chart, suggesting a potential continuation of the uptrend.
  • Positive Momentum: The moving average convergence divergence (MACD) indicator shows positive momentum, further strengthening the case for a bullish breakout.
  • Overbought Conditions: The relative strength index (RSI) indicates that NZDUSD may be overbought, suggesting potential buying pressure.

Trade Rationale:

Several factors suggest a potential long trade opportunity based on the above analysis:

  • Breakout Potential: A break above the -0.61205 level could trigger a significant upward movement.
  • Favorable Risk-Reward Ratio: The proposed stop-loss and take-profit levels offer a risk-to-reward ratio of approximately 2:1, making it a potentially attractive trade setup.
  • Limited Downside Risk: The stop-loss placement ensures controlled losses if the trade analysis is incorrect.

Trade Management:

Here’s how to manage your NZDUSD long trade effectively:

  • Enter at -0.61205: Place your buy order at the suggested entry price, or slightly lower if possible, to fill the trade at a favorable price.
  • Set Stop-Loss at -0.59910: This stop-loss level limits potential losses if the price moves against your prediction.
  • Target Profit at -0.63818: Aim for the suggested take-profit level to secure a potential profit of approximately 267 pips.
  • Monitor the Trade: Actively monitor the price movement and adjust your stop-loss or take-profit orders if necessary based on market conditions.

Conclusion:

While this potential NZDUSD long trade presents a chance for traders to capitalize on a potential price breakout, remember that trading involves inherent risks. Always conduct thorough research and manage your trades responsibly.

Important Disclaimer:

This analysis is based on technical indicators and current market conditions. It is not a guaranteed prediction of future price movements. Always conduct your own research and consult with financial advisors before making any trading decisions.

rfxsignals December 11, 2023 No Comments

Potential Long Trade Opportunity in GBPAUD

Potential Long Trade Opportunity in GBPAUD: Buy at -1.91635, Target – 1.93563, Stop-Loss – 1.89844

The GBPAUD currency pair has recently presented a potential long trade opportunity, offering a favorable risk-to-reward ratio. Here’s a breakdown of the trade setup:

Trade Signals:

  • Entry Price: -1.91635
  • Stop Loss: -1.89844
  • Take Profit: -1.93563

Analysis:

Technical analysis suggests that the GBPAUD might be poised for an upward movement, potentially breaking through recent resistance levels. Here are some key observations supporting this analysis:

  • Price Consolidation: The GBPAUD has been consolidating within a range for a significant period, indicating potential accumulation by buyers.
  • Bullish Pattern Formation: Some technical indicators, like the stochastic oscillator, show signs of a potential bullish divergence, suggesting an upcoming price reversal.
  • Positive Economic News: Recent economic news for the UK has been positive, potentially boosting investor confidence in the Pound Sterling.

Trade Rationale:

Based on the above analysis, the following factors suggest a potential long trade opportunity:

  • Breakout Potential: The price is currently hovering around a crucial support level, and a break above this level could trigger a significant upward movement.
  • Favorable Risk-to-Reward Ratio: The proposed stop-loss and take-profit levels offer a risk-to-reward ratio of approximately 1:2, making it a potentially attractive trade setup.
  • Limited Downside Risk: The stop-loss placement ensures controlled losses if the trade analysis is incorrect.

Trade Management:

Here’s how to manage your GBPAUD long trade effectively:

  • Enter at -1.91635: Place your buy order at the suggested entry price, or slightly lower if possible, to fill the trade at a favorable price.
  • Set Stop-Loss at -1.89844: This stop-loss level limits potential losses if the price moves against your prediction.
  • Target Profit at -1.93563: Aim for the suggested take-profit level to secure a potential profit of approximately 100 pips.
  • Monitor the Trade: Actively monitor the price movement and adjust your stop-loss or take-profit orders if necessary based on market conditions.

Conclusion:

This potential GBPAUD long trade opportunity presents a chance for traders to capitalize on a potential price breakout. However, remember that trading involves inherent risks. Always conduct thorough research and manage your trades responsibly.

Remember: This analysis is based on technical indicators and current market conditions. It is not a guaranteed prediction of future price movements. Always conduct your own research and consult with financial advisors before making any trading decisions.

rfxsignals December 11, 2023 No Comments

EURCHF Sell Trade Setup – December 11, 2023

EURCHF Sell Trade Setup – December 11, 2023

Entry Price: 0.94633 Stop Loss: 0.95720 Take Profit: 0.92841

Analysis:

This trade setup recommends selling the EURCHF currency pair with an entry price of 0.94633. The stop-loss is set at 0.95720, while the take profit target is 0.92841.

Rationale:

  • Technical Indicators:

EURCHF SELL 11 12

Risk Management:

The stop-loss is placed 108.7 pips above the entry price, which represents a 1.15% risk. The risk-reward ratio is approximately 1.5:1, which means the potential profit is 1.5 times greater than the potential loss.

Disclaimer:

This is for informational purposes only and should not be considered financial advice. Please consult with a financial professional before making any investment decisions.

rfxsignals December 7, 2023 No Comments

Short-Term Trade Opportunity: USDCAD SELL for 07 12 2023

USDCAD SELL ENTRY 1.36000

STOPLOSS 1.38000

TARGET POINT 1.33450

usdcad sell 07 12

usdcad sell 07 12

Short-Term Trade Opportunity: USDCAD SELL

This article analyzes a potential short-term trade opportunity in the USDCAD currency pair.

Trade Signals:

  • Entry Price: 1.36000
  • Stop Loss: 1.38000
  • Target Point: 1.33450

Analysis:

Currently, the USDCAD price is hovering around 1.36000. This level presents a potential selling opportunity based on technical analysis. The price has been facing resistance at this level recently, and a potential reversal is anticipated.

Trade Rationale:

  • Resistance Level: The 1.36000 price level has acted as a significant resistance point for USDCAD in recent trading sessions. This indicates that there might be a strong selling pressure at this level, pushing the price down.
  • Technical Indicators: Some technical indicators, such as the Relative Strength Index (RSI), suggest that the USDCAD is overbought and due for a correction. This further strengthens the case for a potential short-term sell trade.

Trade Management:

  • Entry Price: Enter the trade at 1.36000 or a slightly lower price if possible.
  • Stop Loss: Place a stop-loss order at 1.38000 to limit potential losses if the trade analysis is incorrect.
  • Target Point: Aim for a target profit point at 1.33450, which represents a potential reward-to-risk ratio of approximately 2:1.

Risk Management:

It is crucial to practice proper risk management principles while executing this trade.

  • Position Sizing: Allocate only a small percentage of your capital to this trade to limit overall risk exposure.
  • Monitor Your Trade: Closely monitor the price movement and adjust your stop-loss or take profit orders as needed based on market conditions.

Conclusion:

While this trade presents a potentially profitable opportunity, it is important to remember that trading involves inherent risks. Always conduct thorough research and analysis before making any trading decisions.

rfxsignals December 6, 2023 No Comments

GBPJPY SELL SIGNALS ALERT FOR 06 12 23

GBPJPY SELL-185.442
STOPLOSS-186.522
TAKE PROFIT -184.226

GBPJPY SELL 06 12 23

GBPJPY SELL 06 12 23

RFXSIGNALS provides the latest technical analysis of the GBP/JPY (British Pound Sterling/Yen). You may find the analysis on a daily basis with forecasts for the global daily trend. You may also find live updates around the clock if any major changes occur in the currency pair.

 

Despite the GBPJPY pair’s stability within the bullish channel, facing strong negative pressures and fluctuating below 186.35 barrier confirmed its affection by the domination of the correctional bearish bias, to notice touching 185.10 as expected previously.

 

Now, the fluctuation of the MA55 near the mentioned barrier confirms confining the price within the negative track for now, to expect forming new bearish waves soon to attempt to press on the bullish channel’s support line at 184.60, followed by monitoring the price behavior due to the importance of this level to detect the next main trend.

rfxsignals December 5, 2023 No Comments

GBPCHF SELL ENTRY SIGNAL FOR 05 12 2023

GBPCHF SELL ENTRY -1.0118
STOPLOSS -1.11030
TAKE PROFIT -1.08411

GBPCHF SELL ENTRY

 

The Pound/Swiss Franc cross is a lower volatility pair that is tempered by the currencies’ economic and geographic proximity. The Swiss Franc is considered a benchmark safe haven currency due to its history as a refuge for wealthy individuals from foreign shores looking to safe guard capital. In turn, the British Pound is one of the premier reserve currencies and represents the world’s largest financial center.

 

PIVOT POINTS

S3  1.10107
S2 1.10143
S1 1.10158
R1 1.10194
R2 1.10215
R3 1.10251
P 1.10179
Daily Classical Pivot Points. Last Updated: Dec 5, 2023