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HubuFX Shares Top Notch Trading Ideas

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USDCHF keeps achieving the negative targets

The USDCHF currency pair has been steadily declining, recently surpassing our expected target of 0.8600. This confirms that the decline is likely to continue in both the short and medium term. Our next target for the pair is 0.8520, which we expect to be the next negative station for the price. If the price falls below this level, it could drop even further to 0.8450, which is our next main target.

HubuFX Shares Top Notch Trading Ideas in Technical_usdchf_18

However, there is a possibility that the price could rise above 0.8690. If this happens, it could cause a temporary increase in the value of the pair before it starts declining again. So, while the downward trend is still expected to continue, there is a chance that it could be temporarily interrupted if the price rises above 0.8690 and stays there.


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#1 - July 14, 2023, 01:25:01 PM

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EURUSD Technical and Fundamental Outlook

The EURUSD currency pair has been experiencing an upward trend since October 2022. Currently, it is trading above its 1.1060 support level. Additionally, technical indicators such as the MACD and RSI are in neutral territory, suggesting a bullish outlook.

This morning, the EURUSD is trading close to the strong support at 1.1060. This price level provides a decent supply zone for the pair, and the price may bounce from here. In the near term, there are several factors that could support the EURUSD. Firstly, the European Central Bank (ECB) is expected to raise interest rates, which could make the euro more attractive to investors. Secondly, the US economy is showing signs of slowing down, which could weigh on the dollar.

HubuFX Shares Top Notch Trading Ideas in Technical_eurusd-chart

As a result, the EURUSD is expected to continue its upward trend in the near term. The pair could test the 1.1200 level in the coming weeks. However, if the ECB does not raise interest rates as expected or if the US economy shows signs of improvement, the EURUSD could pull back.
#2 - July 25, 2023, 10:28:49 AM

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USDCAD: Is the Bear Market Over?

The USDCAD currency pair is currently testing the resistance level of 1.3235, which is also near the 50% Fibonacci retracement level. The RSI indicator has not yet reached the overbought level of 80 in the 4-hour time frame, indicating that there is still room for the bulls to push the price higher.

The candle sticks formed near the resistance level do not show any significant selling pressure from the bears. This suggests that the upward bias is likely to continue, with the 25 SMA acting as support for the bulls.

If the bulls are successful in breaking through the resistance level, their target will be the 61.8% Fibonacci resistance level. However, traders should also watch the price action closely for doji, long-wicked candles, or bearish engulfing candles, which could signal a reversal in the trend.

HubuFX Shares Top Notch Trading Ideas in Technical_usdcad

In general, the trend is bearish, and the current uptick movement can be considered a correction. However, if the bulls are able to break through the resistance level, the trend could shift to bullish.
#3 - July 28, 2023, 12:30:51 PM

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EURUSD Strategy: A Closer Look at the 4-Hour Chart

The EURUSD currency pair is trading bullish above the trend line from May 31. However, it is important to note that the pair is below the pivot level at 1.104. There are several high-impact economic news releases scheduled for today in the euro zone, which could impact the pair's direction in the short term. Therefore, it is not recommended to trade this currency pair until the new data is released.

HubuFX Shares Top Notch Trading Ideas in Technical_eurusd-hubufx-1

On a technical standpoint, the euro is bullish against the dollar as long as the pair is traded above the resistance line at 1.0966. Zooming in to the 4-hour chart, we see a bullish engulfing candle stick, which signals that the rising trend may continue. However, the pair could break the trend line if the economic data released today is disappointing for the euro area.

HubuFX Shares Top Notch Trading Ideas in Technical_eurusd-hubufx-2

Traders should keep an eye on today's economic data and watch the market behavior closely before going long or short on the EURUSD currency pair.
#4 - August 01, 2023, 07:39:19 AM

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Best Prices to Enter Gold Market with Minimum Risk

Gold bounced from the July's high of $1,987 and is currently testing the trendline that acts as support for the XAUUSD. The RSI indicator is currently below the 50 line and has room to reach the 30 level. Therefore, the downward momentum of the yellow metal may continue in the current trading session, and the bears may be able to challenge the trendline.

The S1 support offers supply for buyers in the asset, as evidenced by the long wick shadow and the bullish engulfing pattern, which signals that bulls are leading the price. If the bullish scenario is correct, the bulls' first target would be the first resistance around $1,980.

HubuFX Shares Top Notch Trading Ideas in Technical_gold

However, traders should note that the best prices to enter the market with the minimum risk are at the support level of $1,940. If this level breaks, the gold price could dump to the next support around $1,921.
#5 - August 01, 2023, 11:36:47 AM

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EURUSD Analysis: Symmetrical Triangle and Awesome Oscillator

Currently, the EURUSD currency pair is trading at around 1.097. Interestingly, it?s in a symmetrical triangle pattern, which typically indicates that the current trend will continue. As a result, the pair is following the rising trend line and attempting to break down. However, it?s important to note that the trend line has been tested four times, so it presents a strong barrier for bearish traders. In addition, the bars on the Awesome Oscillator indicator have turned green and are approaching the signal area.

HubuFX Shares Top Notch Trading Ideas in Technical_eurusd

Furthermore, the low on July 27th supports a bullish outlook for the EURUSD price. If this level holds, the target will be 1.104, followed by 1.113. For those who want to trade long, it?s recommended to set your risk at least 29 pips below the S1 support, as indicated by the ATR indicator.

On the other hand, if bearish traders manage to close below 1.0945 on the 4-hour chart, the decline that began on July 18th could extend to 1.092 and then to 1.083.
#6 - August 02, 2023, 12:59:27 PM

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GBPUSD Tests 1.26 Support, Bulls Ready for Reversal

The GBPUSD currency pair is currently trading below the broken trendline, around 1.2696. At the moment, the bears are testing the support area, which extends from 1.2681 to 1.26. This support zone is clearly shown in green on the GBPUSD daily time frame. Interestingly, this support was tested once on June 29, and the bullish trend extended its legs to as high as 1.3141 until July 13.

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If we take a closer look by zooming into the 4-hour time frame, we can see a long-wick candlestick. This signals a possibility of a trend reversal or an exhaustion in the bearish bias from July 13. Please note, the green area acts as the supply zone all the way down to S1 support at 1.261. Consequently, there is a high chance for the bulls to regain control if the latter level holds.

HubuFX Shares Top Notch Trading Ideas in Technical_gbpusd-2

On the other hand, for the bears to keep their bearish bias valid, they have to close below the S1 barrier. HubuFX suggests monitoring the price action in the green zone closely before executing a new order or exiting a current short trade.
#7 - August 03, 2023, 07:45:48 AM

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USDCAD Resistance at 1.3386, Bounce to 1.332 Possible

On August 2, the USDCAD pair broke out of its channel and surged higher after retesting it. It is currently trading near the resistance at July?s higher highs of 1.3386, which also coincides with the 50% Fibonacci retracement level. The RSI indicator is hovering in the overbought area, signaling potential exhaustion in the trend or a possible trend reversal with a double top pattern.

Hubufx recommends closely monitoring price action and candlestick patterns around the 1.3388 resistance level. If the resistance holds, the market could bounce to 1.332, followed by 1.329.

HubuFX Shares Top Notch Trading Ideas in Technical_usdcad

If the USDCAD pair closes above 1.3386, it would indicate a continuation of the upward trend. In this scenario, buyers should exercise patience and wait for the market to retest this level before entering a long position. By waiting for a retest, professional traders can minimize their risk and increase the potential outcome of their trade.
#8 - August 03, 2023, 11:11:43 AM

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AUDUSD: Is the Uptrend Over?

The AUDUSD currency pair is currently trading at around 0.6549. Recently, the pair bounced off the resistance level at 0.6589 and formed a doji candlestick pattern on the 4-hour time frame. This pattern suggests a bearish bias in the market. It is important to note that the bearish trend remains valid as long as the price stays below the resistance level of 0.65959. If this scenario plays out, the downward momentum could continue, with the price potentially targeting May's lower lows in the range of 0.6492 to 0.6445.

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On the other hand, if the price breaks above the resistance level of 0.6595, we could see a continuation of the correction. In this case, the price of the asset may rise to test the next resistance level at 0.6638.

In summary, traders should keep an eye on key levels of support and resistance when making their trading decisions for the AUDUSD currency pair. A break above or below these levels could signal a potential change in market direction.


Quote
According to the latest news, the AUDUSD pair is preparing to extend losses below the immediate support of 0.6595 as the United States Automatic Data Processing (ADP) reports that employment additions were higher than expectations. The US labor market witnessed an addition of fresh 324K private payrolls, significantly higher than the estimates of 189K but lower than the former release of 497K. The AUDUSD broke below the key support area at 0.6600 and tumbled to 0.6527, reaching the lowest level since June 1. The decline added negative pressure to the Aussie, which still persists. The pair is currently looking for the next support.
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#9 - August 04, 2023, 01:57:57 PM

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EURUSD: Downtrend Continues, But Bulls Have a Chance at R2

The EURUSD pair is trading in a downtrend and has broken below the 55 Moving Average and the pivot line at 1.099. This suggests that the decline is likely to continue, with the next target being S1 at 1.093 and S2 at 1.086. These levels coincide with the lower line of the channel.

HubuFX Shares Top Notch Trading Ideas in Technical_eurusd-hubufx

Overall, the outlook for EURUSD is bearish, but there are some bullish factors that could support the price. The 1.035 and 1.1049 levels provide support, and if the price closes above this zone, the bulls could target R2 at 1.112. Traders should be cautious and wait for a clear breakout before taking a position.



Fundamental factors for EURUSD:

  • ECB President Lagarde to speak at Jackson Hole symposium. ECB President Christine Lagarde will be speaking at the Jackson Hole symposium today. Her speech is closely watched by markets for any clues about the future of monetary policy in the eurozone.
  • German industrial production data. German industrial production data for July is due to be released today. Economists are expecting a decline of 0.5% from the previous month. A weak reading could weigh on the euro.
  • US retail sales data. US retail sales data for July is due to be released tomorrow. Economists are expecting a strong increase of 0.8% from the previous month. A strong reading could boost the dollar.
#10 - August 07, 2023, 09:29:29 AM

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XAUUSD Bulls Must Hold Above Trend Line and $1,916

The XAUUSD pair is currently trading above an ascending trend line, hovering around $1941. Gold faces minor resistance at $1,951, which serves as a pivot point for the market to potentially shift from a bearish to a bullish bias. If gold can hold above the trend line, it has a bullish outlook with the potential to target and test resistance at $1980. However, it's important to note that the bulls must keep XAUUSD above both the trend line and support at $1,916.

HubuFX Shares Top Notch Trading Ideas in Technical_xauusd

On the flip side, if bears manage to close below support at $1,916, the decline may continue to previous lower highs around $1,900, followed by support 2 at $1,866.

Noteworthy
  • China's gold imports rise in June. China's gold imports rose in June, as the country's demand for the precious metal remained strong. Imports rose to 89.4 tonnes in June, up from 78.4 tonnes in May. This was the highest level of imports since March 2022. China is the world's largest gold consumer.
#11 - August 07, 2023, 01:52:13 PM

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Bitcoin Analysis: Key Levels to Watch

The BTCUSD is currently trading above the 28,099 support level within a declining channel. Despite the bearish channel, the overall outlook for Bitcoin remains bullish. However, in order for this bullish trend to continue, the bulls must break out of the channel and surpass the key psychological level of 30,000. If this scenario plays out, the BTCUSD pair could target 31,111 and test the previous high for a break.

Market uncertainty can be observed by analyzing the candlestick patterns on the daily time frame. Over the past 11 days, a mix of doji candles and long wick shadow candles have formed, indicating indecision among traders.

HubuFX Shares Top Notch Trading Ideas in Technical_Bitcoin-Analysis-Key-Levels-to-Watch

On the other hand, if bears manage to close below the 28,099 support level, the BTCUSD price could fall to 26,968 followed by 25,000. As such, HubuFX's analysis team suggests keeping a close eye on market behavior within the downward channel.

In summary, while the overall outlook for Bitcoin remains bullish, there are key levels to watch on both the upside and downside. A breakout above 30,000 could signal a continuation of the bullish trend, while a close below 28,099 could indicate further downside potential. Traders should remain vigilant and monitor market behavior closely.
#12 - August 08, 2023, 08:34:41 AM

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USDJPY Surges Towards Previous High

The USDJPY currency pair recently experienced a bounce from the 0.382 Fibonacci retracement level. This bullish wave was initiated by a long wick shadow candlestick pattern in the 4-hour time frame. As a result, the pair is now surging towards its previous high of around 144.0.

HubuFX Shares Top Notch Trading Ideas in Technical_usdjpy-hubufx

In addition, the RSI indicator is currently hovering above the 50 level, indicating that there is still room for it to reach the 70 level or enter the overbought zone. This suggests that the market expects the USDJPY to continue its upward trend and test the 144.0 resistance level in the next trading session at least.

HubuFX Shares Top Notch Trading Ideas in Technical_usdjpy-hubufx-d1

When looking at the daily time frame, the outlook for the USDJPY remains bullish. The next major resistance level is R1 at 145.71. Furthermore, machine learning indicators signal that bulls are in control of the market. A dip to the pivot point could provide an opportunity for buyers to go long on the currency pair.



A machine learning indicator in forex is a technical analysis tool that uses machine learning algorithms to analyze market data and make predictions about future market movements. These indicators can analyze technical and fundamental data, such as price and volume, to generate signals for potential trade setups.

For example, the RSI-MFI Machine Learning Indicator combines the Relative Strength Index (RSI) and Money Flow Index (MFI) indicators with the Manhattan distance metric to provide insights into potential trade setups by leveraging machine learning principles and calculating distances between current and historical data points. Machine learning indicators can be used in conjunction with other technical analysis tools to help traders make informed decisions in the forex market.
#13 - August 08, 2023, 01:28:39 PM

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Bullish Outlook for Bitcoin After Channel Break

Recently, Bitcoin broke through its channel and tested the significant $30,000 psychological level. After this break, the outlook for Bitcoin has become increasingly bullish. In fact, the BTCUSD pair has returned to test the broken channel in the 4H time frame, which now acts as support. Additionally, the pivot point is located at 29,183 and with a hold above this level, there is a high chance that we will witness a rise to the 30,739 resistance level.

HubuFX Shares Top Notch Trading Ideas in Technical_btcusd-1082023

Furthermore, the dip that occurred a few hours ago provides buyers with an opportunity to enter their buy orders in the market at a cheaper price. Moreover, with the RSI hovering above the signal level, there is strong support for the bullish scenario. Overall, the current market conditions present an attractive opportunity for buyers to enter the market and potentially profit from a rise in Bitcoin's value.
#14 - August 10, 2023, 09:22:21 AM

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GBPJPY Sets for Gains as Bears Offer Little Resistance

The GBPJPY currency pair has recently closed above the key resistance level of 183.26, indicating that a rise is imminent. In fact, the pair is now poised to test the second weekly resistance at 184.28. Furthermore, there appears to be little resistance from the bears, suggesting that the uptrend is likely to continue. This is certainly an exciting development for traders and investors alike.
 
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#15 - August 10, 2023, 11:15:13 AM

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