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Forex Signals: Technical Analysis, November 28, 2023


  1. US Dollar Trend: Significant monthly drop, important for trading USD pairs.

  2. Treasury Bond Stability: Watch for implications on USD-related forex strategies.

  3. Asian Currency Strength: South Korean won and Japanese yen showing resilience, impacting related forex pairs.

  4. Fed Rate Hike Speculations: Potential pause in rate hikes could introduce volatility in major currency pairs.

  5. Oil Market Dynamics: Fluctuations influenced by geopolitical events and OPEC decisions, affecting commodity-linked currencies.

  6. Gold Price Stability: Gold’s steady performance offers insights for AUD/USD and USD/CHF traders.

  7. Asian Equity Performance: Mixed signals from Asian stocks can affect risk sentiment in forex trading.

  8. US Bond Market Reactions: Varied responses to government debt sales may hint at broader market sentiment.

  9. Key US Economic Data: Inflation and housing data releases could significantly impact forex market predictions and strategies.

  10. Corporate Earnings Reports: Provide indirect indicators of economic health and broader market trends, influencing forex markets.



DXY Dollar Index, A financial chart depicting the with technical indicators including candlesticks, Bollinger Bands, Ichimoku Cloud, and volume bars. The chart also features an RSI indicator below, signalling recent market volatility.
The Dollar Index, a popular gauge of the Greenback’s value against a basket of 6 major currencies


Today's Forex Signals



Gold, XAU/USDUSD/CAD currency pair, A financial chart depicting the with technical indicators including candlesticks, Bollinger Bands, Ichimoku Cloud, and volume bars. The chart also features an RSI indicator below, signalling recent market volatility.
🟢 XAU/USD (Gold) Technical Breakdown

Pair: XAUUSD (Gold Spot / U.S. Dollar)


Pivot Point: 2011.56


Current Price: 2014.99


Yesterday's Trend: The chart indicates a bullish trend from the previous day, with a strong upward movement.


Trade Direction: BULLISH


Trade Probability: 65%


Indicators Analysis:

  • Volatility: The Bollinger Bands are widening, suggesting an increase in volatility which could favor a breakout.

  • Moving Average (MA): Gold prices are trading above the moving average, indicating a bullish trend.

  • Ichimoku Cloud: Price is above the cloud, suggesting a bullish sentiment.

  • RSI (Relative Strength Index): The RSI is ascending towards the 60 level, indicating growing bullish momentum without being overbought.

  • Bollinger Bands: Price is approaching the upper Bollinger band, if it holds above, this could confirm a bullish trend continuation.

🎯 Targets for Taking Profits:

  • Buy: (BULLISH)

    • 1st Resistance Level: 2021.23

    • 2nd Resistance Level: 2027.23

    • 3rd Resistance Level: 2036.90


Stop Loss Guidelines:

  • Buy: Set the stop loss slightly below the 1st Support Level at 2005.56 to mitigate risk.

Suggestion: Based on the bullish indicators and the price holding above the pivot point, a long position is suggested. Monitor for price action at the 1st resistance level for potential profit-taking or reassessment of the market conditions. Adjust stop loss and take profit targets as the price moves.

WTI, Crude oil, Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.
West Texas Intermediate (WTI) crude oil

Instrument: WTI Crude Oil


Pivot Point: 75.20


Current Price: 74.845


Yesterday's Trend: The chart shows a downward trend with the price closing near the day's lows.


Trade Direction: BEARISH


Trade Probability: 60%


Indicators Analysis:

  • Volatility: The Bollinger Bands are narrowing, indicating decreased volatility and a potential consolidation phase.

  • Moving Average (MA): The price is trading below the moving average, suggesting bearish momentum.

  • Ichimoku Cloud: Not visible in the chart provided, cannot be analyzed.

  • RSI (Relative Strength Index): The RSI is trending downwards towards the 40 level, indicating bearish momentum.

  • Bollinger Bands: The price is below the middle Bollinger band, aligning with a bearish outlook.

🎯 Targets for Taking Profits:

  • Sell: (BEARISH)

    • 1st Support Level: 74.17

    • 2nd Support Level: 73.48

    • 3rd Support Level: 72.45


Stop Loss Guidelines:

  • Sell: Set the stop loss slightly above the 1st Resistance Level at 75.89 to protect against potential reversals.

Suggestion: The current indicators and below-pivot-point price positioning suggest initiating a short position. Consider taking profits at the support levels mentioned, with a vigilant watch on market behavior near these targets for signs of reversal. Stop loss should be placed above the nearest resistance to manage risk effectively.


Vantage Markets , sales banner, trade Gold

EUR/USD Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.
🟢 EUR/USD


Pair: EURUSD (Euro / U.S. Dollar)


Pivot Point: 1.095


Current Price: 1.0950


Yesterday's Trend: The trend was predominantly bullish, with the price closing near the high of the day.


Trade Direction: BULLISH


Trade Probability: 70%


Indicators Analysis:

  • Volatility: The Bollinger Bands are diverging, indicating increased volatility which could lead to a potential upward price movement.

  • Moving Average (MA): The price is currently above the moving average, reinforcing the bullish trend.

  • Ichimoku Cloud: Not visible in the chart provided, cannot be analyzed.

  • RSI (Relative Strength Index): The RSI is trending upwards, currently above the 50 level, which often indicates bullish momentum.

  • Bollinger Bands: The price is near the upper Bollinger band, suggesting that the price might be reaching overbought levels, but still indicative of a bullish trend.

🎯 Targets for Taking Profits:

  • Buy: (BULLISH)

    • 1st Resistance Level: 1.097

    • 2nd Resistance Level: 1.098

    • 3rd Resistance Level: 1.100


Stop Loss Guidelines:

  • Buy: Set the stop loss slightly below the 1st Support Level at 1.093 to manage risk.

Suggestion: Given the bullish indicators, entering a long position could be favorable. Watch for resistance levels as potential profit-taking points. Adjust the stop loss accordingly if the price moves in the expected direction to protect from downside risk.


GBP/USD currency pair, A financial chart depicting the with technical indicators including candlesticks, Bollinger Bands, Ichimoku Cloud, and volume bars. The chart also features an RSI indicator below, signalling recent market volatility.
🟢 GBP/USD

Pair: GBPUSD (British Pound / U.S. Dollar)


Pivot Point: 1.262


Current Price: 1.26246


Yesterday's Trend: The price showed a slight bullish trend, closing marginally higher than its open.


Trade Direction: BULLISH


Trade Probability: 68%


Indicators Analysis:

  • Volatility: The Bollinger Bands are moderately spaced, suggesting a stable volatility conducive to trend continuation.

  • Moving Average (MA): The price is currently above the moving average, suggesting continued bullish momentum.

  • Ichimoku Cloud: Not visible in the chart provided, cannot be analysed.

  • RSI (Relative Strength Index): The RSI is trending upwards and has crossed the 50 level, which is a common indicator of increasing bullish momentum.

  • Bollinger Bands: The price is moving towards the upper Bollinger band but has not reached it, indicating that there may still be room for upward movement.

🎯 Targets for Taking Profits:

  • Buy: (BULLISH)

    • 1st Resistance Level: 1.265

    • 2nd Resistance Level: 1.268

    • 3rd Resistance Level: 1.271


Stop Loss Guidelines:

  • Buy: Set the stop loss just below the 1st Support Level at 1.260 to minimize potential losses.

Suggestion: The current market analysis suggests a bullish trend, making a long position favorable. Traders should look to take profits at the stated resistance levels while maintaining a stop loss below the nearest support to safeguard against a sudden downturn.


USD/JPY Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.
🟢 USD/JPY

Pair: USDJPY (U.S. Dollar / Japanese Yen)


Pivot Point: 148.970


Current Price: 148.283


Yesterday's Trend: The chart shows a slight downtrend, with the price closing lower than it opened.


Trade Direction: BEARISH


Trade Probability: 63%


Indicators Analysis:

  • Volatility: The Bollinger Bands are slightly contracting, indicating lower volatility and a potential consolidation phase.

  • Moving Average (MA): The price is trading below the moving average, suggesting a bearish momentum.

  • Ichimoku Cloud: Not visible in the chart provided, cannot be analyzed.

  • RSI (Relative Strength Index): The RSI is descending towards the 40 level, which could indicate growing bearish momentum.

  • Bollinger Bands: The price is closer to the lower Bollinger band, which may suggest a continuation of the current downtrend.

🎯 Targets for Taking Profits:

  • Sell: (BEARISH)

    • 1st Support Level: 148.270

    • 2nd Support Level: 147.850

    • 3rd Support Level: 147.150


Stop Loss Guidelines:

  • Sell: Set the stop loss just above the 1st Resistance Level at 149.390 to mitigate potential losses.

Suggestion: The indicators and price below the pivot point suggest a short position may be favorable. Traders should consider taking profits at the support levels indicated, with a stop loss above the nearest resistance to manage the risk.


USD/CHF Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.
🟢 USD/CHF

Pair: USDCHF (U.S. Dollar / Swiss Franc)


Pivot Point: 0.881


Current Price: 0.88037


Yesterday's Trend: The trend was neutral to slightly bearish, with the price closing nearly unchanged from its open.


Trade Direction: NEUTRAL to BEARISH


Trade Probability: 55%


Indicators Analysis:

  • Volatility: The Bollinger Bands show moderate volatility with no significant expansion or contraction.

  • Moving Average (MA): The price is hovering around the moving average, suggesting a lack of clear trend direction.

  • Ichimoku Cloud: Not visible in the chart provided, cannot be analyzed.

  • RSI (Relative Strength Index): The RSI is around the midpoint of 50, which indicates indecision in the market.

  • Bollinger Bands: The price is between the middle and lower Bollinger band, suggesting a slight bearish bias but without strong momentum.

🎯 Targets for Taking Profits:

  • Sell: (BEARISH)

    • 1st Support Level: 0.879

    • 2nd Support Level: 0.877

    • 3rd Support Level: 0.875


Stop Loss Guidelines:

  • Sell: Set the stop loss slightly above the Pivot Point at 0.881 to limit potential losses.

Suggestion: Given the neutral to slight bearish sentiment, a cautious approach would be advisable. Traders might look for confirmation of a bearish move before entering a short position, with tight stop losses to account for the current market indecision.


NZD/USD  currency pair, A financial chart depicting the with technical indicators including candlesticks, Bollinger Bands, Ichimoku Cloud, and volume bars. The chart also features an RSI indicator below, signalling recent market volatility.
🟢 NZD/USD

Pair: NZDUSD (New Zealand Dollar / U.S. Dollar)


Pivot Point: 0.6089


Current Price: 0.61004


Yesterday's Trend: The price showed an upward trend, closing slightly higher than its open.


Trade Direction: BULLISH


Trade Probability: 70%


Indicators Analysis:

  • Volatility: The Bollinger Bands are moderately spaced, indicating steady volatility.

  • Moving Average (MA): The price is trading above the moving average, suggesting a bullish trend.

  • Ichimoku Cloud: Not visible in the chart provided, cannot be analyzed.

  • RSI (Relative Strength Index): The RSI is trending upwards, currently above 50, indicating bullish momentum.

  • Bollinger Bands: The price is approaching the upper Bollinger band, which suggests the possibility of an ongoing bullish momentum.

🎯 Targets for Taking Profits:

  • Buy: (BULLISH)

    • 1st Resistance Level: 0.6119

    • 2nd Resistance Level: 0.6138

    • 3rd Resistance Level: 0.6168


Stop Loss Guidelines:

  • Buy: Set the stop loss just below the 1st Support Level at 0.6070 to manage risk.

Suggestion: The indicators suggest a bullish trend, hence initiating a long position could be considered. It would be prudent to monitor the resistance levels for potential profit-taking and adjust the stop loss accordingly if the price moves in the expected direction.


AUD/USD  currency pair, A financial chart depicting the with technical indicators including candlesticks, Bollinger Bands, Ichimoku Cloud, and volume bars. The chart also features an RSI indicator below, signalling recent market volatility.
🟢 AUD/USD

Pair: AUDUSD (Australian Dollar / U.S. Dollar)


Pivot Point: 0.6596


Current Price: 0.66189


Yesterday's Trend: The price trended upwards, closing higher than its open, suggesting a bullish sentiment.


Trade Direction: BULLISH


Trade Probability: 72%


Indicators Analysis:

  • Volatility: The Bollinger Bands are moderately wide, indicating a stable level of volatility.

  • Moving Average (MA): The price is trading above the moving average, signaling a bullish trend.

  • Ichimoku Cloud: Not visible in the chart provided, cannot be analyzed.

  • RSI (Relative Strength Index): The RSI is ascending towards the 60 level, indicating strengthening bullish momentum.

  • Bollinger Bands: The price is in the upper half of the Bollinger Bands, suggesting a possible continuation of the uptrend.

🎯 Targets for Taking Profits:

  • Buy: (BULLISH)

    • 1st Resistance Level: 0.6627

    • 2nd Resistance Level: 0.6645

    • 3rd Resistance Level: 0.6676


Stop Loss Guidelines:

  • Buy: Set the stop loss just below the 1st Support Level at 0.6578 to protect the trade.

Suggestion: Given the bullish indicators, a long position may be considered. Keep a close watch on the resistance levels for potential profit-taking and adjust the stop loss if the market moves in favor of the position.


USD/CAD   currency pair, A financial chart depicting the with technical indicators including candlesticks, Bollinger Bands, Ichimoku Cloud, and volume bars. The chart also features an RSI indicator below, signalling recent market volatility.
🟢 USDCAD

Pair: USDCAD (U.S. Dollar / Canadian Dollar)


Pivot Point: 1.3631


Current Price: 1.35989


Yesterday's Trend: The trend appears to be on a slight decline, with the price closing lower than the opening.


Trade Direction: BEARISH


Trade Probability: 60%


Indicators Analysis:

  • Volatility: The Bollinger Bands are moderately wide, indicating a steady level of market volatility.

  • Moving Average (MA): The price is trading below the moving average, suggesting bearish momentum.

  • Ichimoku Cloud: Not visible in the chart provided, cannot be analysed.

  • RSI (Relative Strength Index): The RSI is heading towards the lower end of the spectrum, nearing the 40 level, which could indicate a bearish momentum building up.

  • Bollinger Bands: The price is moving towards the lower Bollinger band, which could suggest a continuation of the bearish trend.

🎯 Targets for Taking Profits:

  • Sell: (BEARISH)

    • 1st Support Level: 1.3600

    • 2nd Support Level: 1.3583

    • 3rd Support Level: 1.3552


Stop Loss Guidelines:

  • Sell: Set the stop loss just above the Pivot Point at 1.3631 to mitigate potential losses.

Suggestion: Considering the bearish indicators, initiating a short position could be considered. Traders should monitor the support levels for potential exit points and set a stop loss above the pivot to protect against a change in trend.


EUR/GBP,  currency pair, A financial chart depicting the with technical indicators including candlesticks, Bollinger Bands, Ichimoku Cloud, and volume bars. The chart also features an RSI indicator below, signalling recent market volatility.
EUR/GBP

Pair: EURGBP (Euro / British Pound)


Pivot Point: 0.868


Current Price: 0.86700


Yesterday's Trend: The price seems to be consolidating, with a very slight downward movement from the previous close.


Trade Direction: NEUTRAL to BEARISH


Trade Probability: 58%


Indicators Analysis:

  • Volatility: The Bollinger Bands are showing moderate volatility, not too wide nor too narrow.

  • Moving Average (MA): The price is hovering around the moving average, indicating a lack of a strong trend.

  • Ichimoku Cloud: Not visible in the chart provided, cannot be analyzed.

  • RSI (Relative Strength Index): The RSI is near the 50 level, suggesting a lack of clear momentum in either direction.

  • Bollinger Bands: The price is currently in the middle of the Bollinger Bands, supporting the neutral stance.

🎯 Targets for Taking Profits:

  • Sell: (BEARISH)

    • 1st Support Level: 0.866

    • 2nd Support Level: 0.864

    • 3rd Support Level: 0.863


Stop Loss Guidelines:

  • Sell: Set the stop loss just above the 1st Resistance Level at 0.869 to protect against potential upward movements.

Suggestion: In this scenario, traders might wait for a clearer signal before entering the market, as the indicators suggest a lack of clear direction. If taking a short position, it is advisable to have a tight stop loss given the proximity to the pivot point and the current price.

 

Disclaimer: These trading signals is based on the current chart and market conditions. Always conduct your own analysis and consider risk management strategies before entering any trade. Markets are dynamic, and conditions can change rapidly.


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The information provided does not constitute, in any way, a solicitation or inducement to buy or sell securities and similar products.


Forex signals ,comments and analysis reflect the views of CHAMP PROFIT at any given time and are subject to change at any time. ©2023 by Champ Profit.



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