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Live Forex Signals: Technical Analysis, November 24, 2023


  1. Japan's Inflation Continues to Rise: October sees 2.9% CPI Increase, above BOJ's 2% Target

  2. BOJ's Policy Shift Anticipation: Analysts Predict End to Negative Interest Rates in April

  3. Persistent Core-Core Inflation: Remains Above 4% for Seventh Month, Indicating Stubborn Price Pressures

  4. Market Speculation on BOJ's Next Moves: Negative Rate Policy and Yield Curve Control under Scrutiny

  5. Government Push for Wage Increases: Aimed at Combating Rising Living Costs in Japan

  6. Stock Market Outlook: Mixed Opening with Dollar and Oil Slipping

  7. OPEC+ Discord Impact on Oil Prices: Crude Oil Declines Amid Meeting Delay and Quota Disputes

  8. European Bond Market Reaction: Concerns over Increased Borrowing Amid Economic Slowdown

  9. Barclays Cost-Cutting Measures: Plans for Significant Job Reductions and Expense Savings

  10. Key Economic Events to Watch: US Manufacturing PMI, Germany IFO Business Climate, ECB's Lagarde Speech



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

Intraday Forex Signals for XAUUSD (Gold Spot / U.S. Dollar)


Pair: XAUUSD


Trade Direction: BULLISH


Trade Probability: 70%


Yesterday's Trend: The trend for XAUUSD was volatile, with a pullback from the highs but closing near the pivotal level.


Pivot Point Analysis:

  • The current pivot point is at 1993.90.

Indicators:

  • Volatility: The Bollinger Bands show a contraction, suggesting a potential breakout soon.

  • Moving Average (MA): Price is trading above the moving average, indicating a bullish trend.

  • Ichimoku: Price is above the cloud, suggesting bullish momentum.

  • RSI: The Relative Strength Index is ascending towards the midline, indicating rising bullish momentum.

  • Bollinger Bands: The price is nearing the upper band, showing strength but also potential resistance ahead.

🎯 Targets for Taking Profits:

  • Buy: If the direction is BULLISH, suggest targets at:

    • 1st Resistance level: 1998.49

    • 2nd Resistance level: 2003.01

    • 3rd Resistance level: 2007.60


❌ Stop Loss Guidelines:

  • Buy: If going long, set the stop loss just below the 1st Support level at 1989.38.

Suggestion: Given the bullish indicators and trading above the pivot point, a long position could be considered.


Traders should watch for a clear breakout above the pivot point and enter with the stop loss set below the first support level.


Take profit targets can be set at the mentioned resistance levels, monitoring the price action closely at each target for potential reversals.

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

Intraday Forex Signals for WTI (West Texas Intermediate Crude Oil)


Pair: WTI


Trade Direction: BEARISH


Trade Probability: 65%


Yesterday's Trend: WTI showed a bearish trend, with a close near the lower end of the day's trading range.

Pivot Point Analysis:

  • The current pivot point is at 76.19.

Indicators:

  • Volatility: The Bollinger Bands are wide, suggesting high market volatility.

  • Moving Average (MA): Price is oscillating near the moving average, indicating indecision but with bearish bias as the price is currently below the MA.

  • Ichimoku: Price is below the cloud, which indicates bearish sentiment.

  • RSI: The Relative Strength Index is below the midline, leaning towards oversold conditions, which could hint at a bearish momentum.

  • Bollinger Bands: The price is testing the lower band, indicating that the market is considering lower price levels.

🎯 Targets for Taking Profits:

  • Sell: If the direction is BEARISH, suggest targets at:

    • 1st Support level: 75.58

    • 2nd Support level: 74.69

    • 3rd Support level: 74.08


❌ Stop Loss Guidelines:

  • Sell: If going short, set the stop loss just above the 1st Resistance level at 77.08.

Suggestion: Considering the bearish indicators and price action below the pivot point, a short position could be taken.


The trade should be entered with a stop loss set just above the first resistance to limit potential losses.


Profit targets are advised at the support levels mentioned, with close monitoring required due to the increased market volatility as indicated by the Bollinger Bands.


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


Intraday Forex Signals for EURUSD (Euro / U.S. Dollar)


Pair: EURUSD


Trade Direction: BULLISH


Trade Probability: 68%


Yesterday's Trend: The EURUSD pair displayed an upward trend with a close near the higher end of the range.

Pivot Point Analysis:

  • The current pivot point is at 1.091.

Indicators:

  • Volatility: The Bollinger Bands are expanding, suggesting an increase in volatility and a potential continuation of the current trend.

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

  • Ichimoku: The price is above the Ichimoku cloud, suggesting bullish momentum is intact.

  • RSI: The Relative Strength Index is trending upwards, indicating increasing bullish momentum.

  • Bollinger Bands: Price is approaching the upper Bollinger Band, signaling strength in the current trend.

🎯 Targets for Taking Profits:

  • Buy: If the direction is BULLISH, suggest targets at:

    • 1st Resistance level: 1.093

    • 2nd Resistance level: 1.095

    • 3rd Resistance level: 1.098


❌ Stop Loss Guidelines:

  • Buy: If going long, set the stop loss just below the 1st Support level at 1.089.


Suggestion: Given the bullish trend and the price trading above the pivot point, entering a long position may be considered.


Traders should set a stop loss below the first support level to manage risk and aim for the resistance levels as profit targets, with particular attention to the second and third resistance levels due to the increasing volatility which could lead to price fluctuations.


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

Intraday Forex Signals for GBPUSD (British Pound / U.S. Dollar)


Pair: GBPUSD


Trade Direction: BULLISH


Trade Probability: 65%


Yesterday's Trend: The GBPUSD pair maintained a steady upward trend, ending the session near its peak.


Pivot Point Analysis:

  • The current pivot point is at 1.253.

Indicators:

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

  • Moving Average (MA): The pair is trading above the moving average, indicative of a bullish trend.

  • Ichimoku: Price is above the Ichimoku cloud, suggesting bullish momentum is present.

  • RSI: The Relative Strength Index is on an upward trend but not yet in the overbought territory, suggesting there may still be room for upward movement.

  • Bollinger Bands: The price is pushing towards the upper band, indicating that bulls are in control.

🎯 Targets for Taking Profits:

  • Buy: If the direction is BULLISH, suggest targets at:

    • 1st Resistance level: 1.257

    • 2nd Resistance level: 1.261

    • 3rd Resistance level: 1.266


❌ Stop Loss Guidelines:

  • Buy: If going long, set the stop loss just below the 1st Support level at 1.249.

Suggestion: Given the positive momentum and price being above the pivot point, a long position could be initiated.


The stop loss should be placed below the first support level to manage the risk. As the price approaches each resistance level, it's important to monitor for potential reversals, adjusting stop-loss orders accordingly to protect profits.


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

Intraday Forex Signals for USDJPY (U.S. Dollar / Japanese Yen)


Pair: USDJPY


Trade Direction: BEARISH


Trade Probability: 60%


Yesterday's Trend: The USDJPY pair showed a decline, closing near the lower end of the trading range.

Pivot Point Analysis:

  • The current pivot point is at 149.383.

Indicators:

  • Volatility: The Bollinger Bands indicate a stable volatility with a slight contraction, which may suggest a potential sharp move after a period of consolidation.

  • Moving Average (MA): The pair is trading near the moving average, indicating a possible change in trend direction or consolidation.

  • Ichimoku: Price is below the cloud, indicating bearish sentiment.

  • RSI: The Relative Strength Index is trending downward, suggesting bearish momentum.

  • Bollinger Bands: The price is near the lower band, which could indicate an oversold condition or a continuation of the downward trend.

🎯 Targets for Taking Profits:

  • Sell: If the direction is BEARISH, suggest targets at:

    • 1st Support level: 149.077

    • 2nd Support level: 148.583

    • 3rd Support level: 148.277


❌ Stop Loss Guidelines:

  • Sell: If going short, set the stop loss just above the 1st Resistance level at 149.877.

Suggestion: Considering the current bearish indicators, initiating a short position may be advisable.

The stop loss should be placed slightly above the first resistance level to manage risk effectively.


As the price approaches each support level, it's important to monitor for potential reversals, adjusting stop-loss orders accordingly to protect against sudden market moves.


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

Intraday Forex Signals for USDCHF (U.S. Dollar / Swiss Franc)


Pair: USDCHF


Trade Direction: BEARISH


Trade Probability: 58%


Yesterday's Trend: The USDCHF showed a downtrend, closing near its lows, indicating bearish pressure.


Pivot Point Analysis:

  • The current pivot point is at 0.884.

Indicators:

  • Volatility: The Bollinger Bands are moderately spaced, suggesting a moderate level of volatility.

  • Moving Average (MA): The pair is trading below the moving average, supporting the bearish trend.

  • Ichimoku: Price is below the Ichimoku cloud, indicating bearish momentum.

  • RSI: The Relative Strength Index is trending downwards towards the oversold territory, which may signal a continued bearish trend or a potential reversal if it becomes too oversold.

  • Bollinger Bands: The price is closer to the lower band, which could indicate that the market is bearish or potentially oversold.

🎯 Targets for Taking Profits:

  • Sell: If the direction is BEARISH, suggest targets at:

    • 1st Support level: 0.882

    • 2nd Support level: 0.880

    • 3rd Support level: 0.879


❌ Stop Loss Guidelines:

  • Sell: If going short, set the stop loss just above the 1st Resistance level at 0.886.

Suggestion: Considering the bearish indicators, a short position could be taken. Traders should set a stop loss above the first resistance level to mitigate risk.


The profit targets should be set at the support levels, with careful monitoring of the trade as it approaches these levels due to the potential for bounce-back in oversold conditions.


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

Intraday Forex Signals for NZDUSD (New Zealand Dollar / U.S. Dollar)


Pair: NZDUSD


Trade Direction: BULLISH


Trade Probability: 62%


Yesterday's Trend: The NZDUSD pair was in an uptrend, finishing near the high of the day, indicating bullish sentiment.

Pivot Point Analysis:

  • The current pivot point is at 0.6045.

Indicators:

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

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

  • Ichimoku: Price is above the Ichimoku cloud, suggesting that bullish momentum is present.

  • RSI: The Relative Strength Index is above 50, pointing towards a bullish momentum but not yet overbought.

  • Bollinger Bands: The price is near the upper band, which may suggest that the market is overextended to the upside; however, it also signifies the strength of the current uptrend.

🎯 Targets for Taking Profits:

  • Buy: If the direction is BULLISH, suggest targets at:

    • 1st Resistance level: 0.6071

    • 2nd Resistance level: 0.6095

    • 3rd Resistance level: 0.6121


❌ Stop Loss Guidelines:

  • Buy: If going long, set the stop loss just below the 1st Support level at 0.6021.

Suggestion: With the bullish indicators, considering a long position could be favorable. A stop loss should be placed just below the first support level to manage risk.


Take profit targets can be set at the indicated resistance levels while watching for signs of reversal, particularly as the price approaches the upper Bollinger Band, which could indicate potential resistance.

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

Intraday Forex Signals for AUDUSD (Australian Dollar / U.S. Dollar)


Pair: AUDUSD


Trade Direction: BULLISH


Trade Probability: 64%


Yesterday's Trend: The AUDUSD pair showed an uptrend, ending the day near its highs, indicating continued bullish momentum.


Pivot Point Analysis:

  • The current pivot point is at 0.6557.

Indicators:

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

  • Moving Average (MA): The pair is trading above the moving average, which is indicative of a bullish trend.

  • Ichimoku: Price is above the Ichimoku cloud, further confirming the bullish outlook.

  • RSI: The Relative Strength Index is above the 50 level, indicating bullish momentum but not yet overbought.

  • Bollinger Bands: The price is trending towards the upper band, suggesting that the bullish trend is strong.

🎯 Targets for Taking Profits:

  • Buy: If the direction is BULLISH, suggest targets at:

    • 1st Resistance level: 0.6575

    • 2nd Resistance level: 0.6592

    • 3rd Resistance level: 0.6610


❌ Stop Loss Guidelines:

  • Buy: If going long, set the stop loss just below the 1st Support level at 0.6540.

Suggestion: Given the bullish indicators, initiating a long position may be advantageous. The stop loss should be placed slightly below the first support level to manage risk, and profit targets could be set at the resistance levels provided.


As the trade progresses, it's important to watch for any signs of trend reversal or potential resistance at the upper Bollinger Band.


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

Intraday Forex Signals for USDCAD (U.S. Dollar / Canadian Dollar)

Pair: USDCAD


Trade Direction: BEARISH


Trade Probability: 56%


Yesterday's Trend: The USDCAD pair showed a slight decline, closing marginally lower, indicating a bearish undertone.


Pivot Point Analysis:

  • The current pivot point is at 1.3688.

Indicators:

  • Volatility: The Bollinger Bands are reasonably wide, suggesting some level of market volatility.

  • Moving Average (MA): The pair is hovering around the moving average, suggesting a potential change in trend or consolidation.

  • Ichimoku: Price is just below the cloud, suggesting bearish sentiment.

  • RSI: The Relative Strength Index is near the midline, indicating no strong momentum in either direction.

  • Bollinger Bands: The price is near the middle band, indicating that the market is in a neutral state.

🎯 Targets for Taking Profits:

  • Sell: If the direction is BEARISH, suggest targets at:

    • 1st Support level: 1.3662

    • 2nd Support level: 1.3625

    • 3rd Support level: 1.3599


❌ Stop Loss Guidelines:

  • Sell: If going short, set the stop loss just above the 1st Resistance level at 1.3725.

Suggestion: Given the slight bearish bias and price being below the pivot point, a short position could be considered.


Traders should set a stop loss above the first resistance level to manage risk and aim for the support levels as profit targets, monitoring the price action closely at each target for potential reversals or slow-downs in momentum.


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

Intraday Forex Signals for EURGBP (Euro / British Pound)

Pair: EURGBP


Trade Direction: BULLISH


Trade Probability: 60%


Yesterday's Trend: The EURGBP showed a slight upward trend, with the price closing near the middle of its daily range.


Pivot Point Analysis:

  • The current pivot point is at 0.871.

Indicators:

  • Volatility: The Bollinger Bands on the EURGBP chart are of moderate width, indicating a standard level of market volatility.

  • Moving Average (MA): The price is oscillating around the moving average, suggesting a possible uptrend as it's currently above the MA line.

  • Ichimoku: Price is just above the Ichimoku cloud, indicating a potential bullish momentum.

  • RSI: The Relative Strength Index is above 50, which is often considered a bullish signal.

  • Bollinger Bands: The price is approaching the upper band, which could either indicate a strong uptrend or potential resistance.

🎯 Targets for Taking Profits:

  • Buy: If the direction is BULLISH, suggest targets at:

    • 1st Resistance level: 0.872

    • 2nd Resistance level: 0.875

    • 3rd Resistance level: 0.876


❌ Stop Loss Guidelines:

  • Buy: If going long, set the stop loss just below the 1st Support level at 0.869.

Suggestion: Given the slight bullish indicators, considering a long position may be appropriate. A stop loss should be placed below the first support level to manage risk, and profit targets can be set at the provided resistance levels. Traders should monitor the trade as the price nears the upper Bollinger Band, which could act as resistance.

 

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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As with all investments, your capital is at risk. Investments can fall and rise and you may get back less than you invested.


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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