#forex

Current watchlist for next week: EURUSD (bullish breakout retest), GBPJPY (sell the rally at 197.50), XAUUSD (buy dip at 2,290), BTC (hold above 67k for continuation), Bank Nifty (range 47,200-48,400, trade the extremes). Levels marked, alerts set. Ready.

USD/CHF breakout from a falling wedge on 4H. Confirmed with a strong bullish engulfing. Entry at 0.9065, SL at 0.9020, target at 0.9160. The SNB (Swiss National Bank) has been more dovish recently which could weaken CHF further.

Key levels on Gold this week: Support at $2,295 and $2,270. Resistance at $2,340 and $2,365. Price is in a bullish channel — buy dips near support, avoid chasing at resistance. The macro tailwind (rate cut expectations) remains intact.

EUR/USD and DXY (Dollar Index) are nearly 95% inversely correlated. Instead of analyzing EUR/USD alone, I always check DXY first. If DXY is at resistance and showing bearish momentum, EUR/USD is likely to rise. Always confirm with the index.

USD/INR technical view: The pair is testing 83.50 resistance. RBI is known to defend this level aggressively. If you are importing, this is a good level to hedge. If trading, the risk:reward of shorting here is attractive with SL at 83.80, target 82.80.

The TBS (Turtle Body Soup) setup explained simply: 1) Find a swept HTF level (C2 manipulation candle) 2) Drop to 5M 3) Look for a 5M candle whose BODY closes beyond the swept level 4) Enter at the close of that candle 5) SL above the wick. Clean and mechanical…

GBP/JPY scalp — London open trap and reverse. Price spiked to 196.80 (stop hunt above Asian high), then formed a strong bearish engulfing on 5M. Shorted from 196.65, target was 195.80. Hit in 45 minutes. Classic liquidity grab play.

Trade review: GBP/USD long from 1.2680 — hit target at 1.2780 for +100 pips. Entry was a clean pin bar at 4H demand zone. SL was 1.2630, never came close. R:R was 1:2. This is the setup I wait for — patience is the skill.

EUR/JPY is in a strong uptrend — higher highs and higher lows on the daily for 6 months. Pullback to the 21 EMA is a buy opportunity. Currently at 163.20, 21 EMA at 162.80. Watching for bullish rejection candle at this level before entering.

USD/CAD — oil prices and CAD have the strongest correlation in G10. With WTI below $80, CAD should weaken. Long USD/CAD from 1.3680, targeting 1.3850. SL below 1.3600. BOC meeting next week is a potential catalyst.

AUD/USD has formed a double bottom on the 4H chart at 0.6480. RSI divergence confirms the setup. RBA tone has been less hawkish than expected — AUD might see temporary weakness first. Watching for a clean break above 0.6520 before committing to longs.

Silver (XAG/USD) is setting up for a potential breakout above $29. Gold:Silver ratio is at 82 — historically stretched, meaning silver is cheap relative to gold. When the ratio compresses, silver moves faster. Watching for a weekly close above $29.20.

GBP/USD weekly supply zone rejection. Price swept last week's high by 15 pips (classic liquidity grab) then formed a strong bearish engulfing on the 4H. Short from 1.2750, SL 1.2810, targeting 1.2600. Risk:Reward = 1:2.5.

USD/JPY CRT setup playing out beautifully. C1 range formed during the Tokyo session, C2 swept the London lows, and C3 is distributing northward into the NY session high. Already +85 pips from the 5M TBS entry at 151.20. Trail SL to breakeven.

Scalping GBP/JPY during London session has been my bread and butter this month. The pair moves 80-120 pips in the first 2 hours consistently. My setup: wait for the first 15-min candle to close, then trade the direction with a 20-pip SL and 40-pip target.

Just completed 6 months of consistent journaling. What I learnt: my best setups are London open reversals on EUR/USD and GBP/USD. My worst sessions are when I trade the NY open news events. Data does not lie — I am cutting NY completely starting next week.

Gold (XAU/USD) — beautiful demand zone reaction at $2,290. The weekly chart shows a clear higher low forming. I entered at $2,292 with SL at $2,278 targeting $2,340. This aligns with the monthly uptrend that has been intact since late 2023.

EUR/USD has been consolidating in a tight range between 1.0820-1.0880 for the past week. Watching for a breakout above 1.0880 with strong momentum. My bias is bullish — London session open is the key moment to watch today. Risk is a close back below the 1.0820…