Baxia Markets Discussion - Official

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Gold has demonstrated a robust bullish rally during the Monday trading session, with indications that this momentum could extend into Tuesday. On the upcoming day, a pivotal high-impact news release is slated, focusing on consumer confidence and job openings. Economists' projections for these metrics stand lower, foreseeing consumer confidence at 116, down from the previous 117, and job openings at 9.465 million, a decline from the previous 9.582 million. These moderated expectations have contributed to the prevailing bullish sentiment. However, any unexpected positive results could swiftly reverse this trend, particularly during the New York trading session when the news is due to be released.




From a technical perspective, Bollinger Bands have been employed to delineate swing highs and swing lows. The chart illustrates two swing highs, one in orange and the other in purple. The orange swing high was overtaken by the prevailing bullish sentiment, culminating in the creation of a new second swing high. Such events often lead to rapid bullish corrections. Currently, momentum is building towards surpassing the recent swing high. The resistance level is situated within the 1928-1933 range, while support is anticipated in the 1912-1916 range.

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Hello traders! Baxia offers the latest release of analytics on top traded assets to better understand the current market conditions for more efficient trading. Let's dive in and discuss today's market outlook on: GBP/USD!

Over the past few days, the GBP/USD currency pair has been locked in a consolidation phase, characterized by a tightening Bollinger band on the hourly time frame chart. Notably, the pair has witnessed extreme oversold conditions, as indicated by the Relative Strength Index (RSI). This oversold status has deterred bearish traders from initiating new positions.

Market participants are eagerly awaiting the release of critical economic data scheduled for Tuesday. The ADP Employment Change and ISM Services reports are expected to inject a dose of volatility into the GBP/USD pair. Analysts and traders alike will closely monitor these figures for potential market-moving insights.

Given the prevailing technical conditions and the looming economic data releases, GBP/USD may experience a continuation of its bearish trend. The key level support zone at 1.1938-1.2052 will be a critical area to watch, as any breach could open the door for further downside movements. Traders are advised to stay vigilant and adapt their strategies accordingly as events unfold.

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Market Analyst
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Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

Hello traders! Baxia offers the latest release of analytics on top traded assets to better understand the current market conditions for more efficient trading. Let's dive in and discuss today's market outlook on: BTC/USD!


The daily BTCUSD chart (see screenshot above) reveals the presence of an Anchored VWAP that has been plotted since early September 2023. This visual representation offers insights into how the VWAP has evolved over the past month up to the present day. Notably, the current price position above the VWAP line, depicted in purple, signals a bullish stance for Bitcoin against the US Dollar. However, there are hints of BTC weakness emerging, as it struggles to consistently close above the VWAP's second upper band. Presently, the price appears to be trading within the range delimited by the VWAP's second and first upper bands.

For a more granular view, let's shift our focus to the hourly timeframe (as shown in the screenshot above). During today's Asian trading session, the price made an attempt to breach the second upper band of the VWAP but faced rejection. Should the price break below the first upper band of the VWAP, this could indicate growing weakness among Bitcoin bulls. At the current juncture, it's prudent to consider that BTCUSD is in a consolidation phase, likely preparing for a significant move in the near future. Stay tuned for further developments in the Bitcoin market.


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Market Analyst
Baxia Markets
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Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

Hello traders! Baxia offers the latest release of analytics on top traded assets to better understand the current market conditions for more efficient trading. Let's dive in and discuss today's market outlook on: USD/CAD!

USDCAD recently entered the highlighted value area, shown in pink on the volume profile chart above. Within this area, the value area's low, at 1.36885, serves as a key support level. A breach below this level may trigger a further decline towards the next support zone, ranging from 1.3642 to 1.3599 (outlined in orange). This particular support zone aligns with a significant level of volume profile imbalance, signifying its importance.

Taking a broader perspective with the weekly VWAP, starting from Monday, we observe that the price is currently trading below the VWAP line (depicted in blue). This movement suggests a bearish sentiment, especially if the price manages to break below the VWAP's first lower band currently printed at 1.36557. Keep a close watch on these critical levels as they may influence future price action.

Today's trading session is accompanied by several significant economic events, including Average Hourly Earnings, Non-Farm Payrolls (NFP), and the Unemployment Rate. Economists have differing forecasts for these reports, with expectations of lower Non-Farm Payrolls, forecasted at 170K compared to the previous 187K. Meanwhile, there is a more favorable outlook for Average Hourly Earnings, with a forecast of 0.3% versus the previous 0.2%, and the Unemployment Rate, anticipated to be 3.7% compared to the previous 3.8%.

→ Click Here to READ more Market news ←

Market Analyst
Baxia Markets
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Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

Hello traders! Baxia offers the latest release of analytics on top traded assets to better understand the current market conditions for more efficient trading. Let's dive in and discuss today's market outlook on: BTC/USD!


Let's take a look at the BTCUSD trading pair once again. By analyzing the Anchored VWAP from the previous month, a significant rejection occurred at the 2nd upper band, signaling a potential descent below the Anchored VWAP line, which is depicted in blue. This descent could drive the price towards the first lower band, intensifying bearish sentiments.

Additionally, examining the Volume Profile, which shares the same starting point as the Anchored VWAP, reveals that the price currently resides beneath the value area, highlighted in pink. This placement suggests that the price is positioned below its perceived fair value. The light green volume profile represents a low volume area, and if it successfully defends the price, there may be an improvement in bullish sentiment. However, failure to do so could undermine the prospects for the bulls.

Furthermore, the William % R indicator currently registers below -60%, signaling a prevailing bearish sentiment in the Bitcoin market.

In conclusion, the overall sentiment in the Bitcoin market remains mixed until critical key levels are crossed.

Key Level Resistance:
27925 (The first upper band of the Anchored VWAP)
28035

Key Level Support:
27126 (the first lower band of the Anchored VWAP)
27541 (The Anchored VWAP midline)

→ Click Here to READ more Market news ←

Market Analyst
Baxia Markets
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Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

Hello traders! Baxia offers the latest release of analytics on top traded assets to better understand the current market conditions for more efficient trading. Let's dive in and discuss today's market outlook on: XAU/USD!



On the hourly chart for XAUUSD, a golden cross is on the horizon, signaling a potential bullish trend. Typically, when these EMA lines intersect, it may take a few days for the opposite, a death cross, to occur. So, if the golden cross materializes today, we might anticipate a potential death cross minimum within the next 1 to 2 trading days.

Examining the 2-day Anchored VWAP, which is plotted from Monday's open, the current price is positioned above the VWAP, indicating a bullish trend. It's important to keep an eye on the critical level at the first lower band of the Anchored VWAP when the market is in a bullish phase. This zone, situated between the Anchored VWAP's midline and its first lower band, often acts as a key support level that could potentially signal a shift from a bullish to a bearish trend.

Taking a closer look at the MACD indicator, both its histogram and signal line are above the zero line, indicating a prevailing bullish sentiment. However, when both lines are above the zero line, and the signal line is positioned above the histogram, it suggests a bullish correction is in progress. This is the current scenario for XAUUSD, suggesting a bullish correction underway.

Key support to monitor lies at the swing low of 1844-1849 (highlighted in an orange rectangle), while the key resistance level to watch is the recent swing high at 1861-1865 (highlighted in a blue rectangle).

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Market Analyst
Baxia Markets
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Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

Hello traders! Baxia offers the latest release of analytics on top traded assets to better understand the current market conditions for more efficient trading. Let's dive in and discuss today's market outlook on: US30!


The US30, also known as Dow Jones 30, experienced a robust rally in the previous week, primarily attributed to the impressive Non-Farm Payroll (NFP) data. This surge propelled the index towards the key resistance level at 33777-33888.

In today's New York trading session, all eyes are on the details emerging from the Federal Reserve's meeting minutes. Key support and resistance levels, delineated within a grey rectangle (representing resistance) at 33777-33888 and an orange rectangle (indicating support) at 33421-33560, are under close scrutiny.

A recent bullish golden cross materialized on the hourly chart, with the EMA 50 and EMA 200 intersecting on Tuesday. This crucial indicator often persists for a day before potentially transitioning to an opposite signal (bearish). A breach below the key support level might herald a bearish death cross. However, if the support level holds firm amidst the Federal Reserve meeting minutes, the bullish trend may continue and breach the key resistance level.

Assessing the MACD, the overarching trend remains bullish, as both the histogram and signal line are situated above the zero line. Yet, it currently exhibits characteristics of a bullish correction due to the signal line's position above the histogram. When both these lines are above the zero line but the signal line is above the histogram, it typically denotes a market in a state of bullish correction.

Furthermore, the Anchored VWAP indicator aligns with the bullish sentiment for US30. The price has consistently remained above the first upper band, indicating a prevailing bullish sentiment. The key zone of significance for the Anchored VWAP spans between the VWAP line (colored blue) at 33544 and the first lower band of the Anchored VWAP at 33320.

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Market Analyst
Baxia Markets
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Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

Hello traders! Baxia offers the latest release of analytics on top traded assets to better understand the current market conditions for more efficient trading. Let's dive in and discuss today's market outlook on: USD/JPY!


USDJPY has been trading in a range since Wednesday, forming a falling wedge pattern on the charts. This pattern is often seen as a sign of a potential bullish trend continuation. As the pair hovers near yesterday's high, it appears poised to continue its move higher.


Traders are keeping a close eye on the key news event of the day – the release of Core CPI and CPI data. This economic data release is expected to inject volatility into the market, potentially impacting the USDJPY's direction. A better-than-expected CPI data could strengthen the US dollar and potentially lead to a break above the high of the volume profile's value area at 149.43, marked by a pink line on the chart.

Key support for the USDJPY can be found at 148.69, highlighted by another pink line at the bottom/low, of the value area, providing a crucial level to watch in case of a reversal. Adding to the bullish outlook, a golden cross is looming on the horizon, a technical signal that often indicates a shift towards a bullish trend. Furthermore, the MACD histogram and signal line are both currently above the zero line, further supporting the bullish sentiment.

This combination of technical and fundamental factors suggests that the USDJPY is poised for potential upside movement, contingent on the upcoming CPI data release.

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Market Analyst
Baxia Markets
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Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

Hello traders! Baxia offers the latest release of analytics on top traded assets to better understand the current market conditions for more efficient trading. Let's dive in and discuss today's market outlook on: US30!





The US30 index has experienced a decline, primarily attributed to the weakened global economic performance. Current global events, including the Russia-Ukraine and Palestine-Israel conflicts, have had a destabilizing impact on the world economy. These ongoing wars have made investors cautious and less inclined to embrace riskier assets.

The market's response to these global events has been evident, with the US30 falling by over 1.5% to around 33,452, with potential further declines in sight.
While there has been some positive news from the US economy, such as better-than-expected reports on CPI, inflation, and continued jobless claims released on Thursday, these factors haven't been sufficient to counter the negative influence of the global conflicts.

From a technical standpoint, an analysis of the EMA 50 (blue line) and EMA 200 (red line) on the hourly timeframe suggests that the US30 index remains in a bullish state since the EMA 50 currently exceeds the EMA 200. Nevertheless, the looming possibility of a death cross (EMA 50 crossing below the EMA 200) remains if the bears maintain their aggressive stance.

Considering the Anchored VWAP indicator, initiated with the plot from Thursday's high, the US30 exhibits a bearish trend, having breached the first lower band of the VWAP at 33584 on October 12, 2023, at 2:00 (MT5 server time). During the Asian trading session on Friday, US30 attempted a recovery but encountered resistance around the VWAP midline, marked in purple. This led to a rejection, with expectations of a decline towards the key VWAP support between the second and third lower bands, ranging from 33,473 to 33,396. Failure to hold this crucial support level may lead to further declines, potentially reaching 33,000.
Lastly, the MACD indicates a bearish correction, as both the signal line and the histogram remain below the 0 line, with the histogram positioned above the signal line. The continuation of the bearish trend will likely occur once the histogram crosses below the signal line.



Key News Release to Watch Today
China Inflation Rate YoY
Forecast 0.2%, previous 0.1%

China Balance of Trade
Forecast $70B, previous $68.36B

US Import Prices MoM
Forecast 0.5%, previous 0.5%

US Export Prices MoM
Forecast 0.5%, previous 1.3%

US Michigan Consumer Sentiment
Forecast 67.2, previous 68.1
→ Click Here to READ more Market news ←

Market Analyst
Baxia Markets
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Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit

Hello traders! Baxia offers the latest release of analytics on top traded assets to better understand the current market conditions for more efficient trading. Let's dive in and discuss today's market outlook on: USDJPY!




On the hourly timeframe chart, USDJPY appears to have established a critical support level at the EMA 50, situated at 149. Interestingly, this level had previously acted as resistance during the high on October 6, 2023. When a former resistance transforms into support, it carries significant importance.
The EMA 50 and 200 have displayed bullish indications since their golden cross occurred last Thursday. The key levels to monitor, as suggested by these two EMAs, lie within the zone bordered by the EMA 50 and 200 (149.12-149.40).

The MACD is currently signaling a bearish trend, with both the histogram and the signal line positioned below the 0 level. In such scenarios, it's advisable to place greater emphasis on slower-moving indicators, particularly the EMA 50 and EMA 200 crossover, as the primary signal. Therefore, when the EMAs indicate a bullish trend while the MACD conveys a bearish signal, it implies that the market is undergoing a bullish correction.

Turning our attention to the Anchored VWAP, which is anchored to the recent Monday open, the present price hovers above the VWAP midline, indicating a bullish sentiment. The support level to monitor, according to the VWAP, extends from 149.38 to 149.32. Meanwhile, the key resistance level stands at 149.74-149.70.

Key Economic News to Watch Today

Euro Zone, Trade Balance
Previous 6.5B

Canada, Wholesale Sales
Forecast 2.6% vs Previous 0.2%


→ Click Here to READ more Market news ←

Market Analyst
Baxia Markets
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Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit

Hello traders! Baxia offers the latest release of analytics on top traded assets to better understand the current market conditions for more efficient trading. Let's dive in and discuss today's market outlook on: XAUUSD!



XAUUSD maintains its bullish momentum and currently experiences a corrective phase.
The EMA 50 has stayed above the EMA 200 for approximately a week. There is a potential for XAUUSD to make another upward surge towards 1937-1946 before any signs of a bearish reversal, such as the impending death cross.

By anchoring the VWAP from Monday's high, the market is striving to breach the initial upper band of the VWAP. A successful break above this level should anticipate further upward movement.

The MACD histogram and signal line reside above the 0-line, affirming a prevailing bullish sentiment.

Key support to watch are the area between the EMA 50 (at 1909) & EMA 200 (at 1880).
Another key support level to watch is an area between the VWAP mid line & the first lower band of the anchored VWAP, 1912-1917.
If the bear manages to break below any of this key level, one should expect a further weakness or lower bullish correction.

Key Economic News to Watch Today
New Zealand, CPI YOY
Actual 5.6% vs Forecast 5.9%

New Zealand, CPI MoM
Actual 1.8% vs Forecast 1.1%

US, Core Retail Sales
Forecast 0.2% vs Previous 0.6%

US, Retail Sales
Forecast 0.3% vs Previous 0.6%

→ Click Here to READ more Market news ←

Market Analyst
Baxia Markets
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Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit

Hello traders! Baxia offers the latest release of analytics on top traded assets to better understand the current market conditions for more efficient trading. Let's dive in and discuss today's market outlook on: EURUSD!




The recently released CPI (inflation) data aligned with expectations at 4.3%, providing solid fundamental support for potential bullish momentum.

Taking a closer look at the hourly chart, EURUSD is currently undergoing a bullish correction, with signs pointing to a potential upward surge towards 1.0600. Notably, it has found a reliable support level at the EMA 200, with the EMA 50 firmly positioned above the EMA 200, indicating a bullish trend.

However, the MACD is offering a contrasting bearish signal as both the histogram and the signal line remain below the 0-level. This suggests a degree of caution.

Observing the Anchored VWAP derived from Monday's low, it becomes evident that EURUSD encountered buyers around the mid VWAP line, marked in black. An essential support level to monitor is the initial lower band of the VWAP. Should EURUSD's price close below this threshold, a potential bearish shift may be in store.

Key support levels currently stand at 1.0538 - 1.0532, as highlighted within a magenta rectangle. A decisive breach beneath these levels could prompt a sentiment shift towards bearish territory. Stay vigilant for further developments.



Key Economic News to Watch Today
China, GDP QoQ
Actual 1.3% vs Forecast 1.0%

China, GDP YoY
Actual 4.9% vs Forecast 4.4%

UK, CPI
Actual 6.7% vs Previous 6.6%

Euro, CPI
Forecast 4.3% vs Previous 5.2%

US, Building Permits
Forecast 1.455M vs Previous 1.541M

US, Housing Starts
Forecast 1.380M vs Previous 1.283M

→ Click Here to READ more Market news ←

Market Analyst
Baxia Markets
_________________________________________
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Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit

Hello traders! Baxia offers the latest release of analytics on top traded assets to better understand the current market conditions for more efficient trading. Let's dive in and discuss today's market outlook on: BNBUSD!


Analyzing the hourly timeframe chart with reference to the EMA 50 and EMA 200, BNB is currently in a bullish trend, indicated by the EMA 50 being positioned above the EMA 200.


At present, BNB is in search of a level of support, and it appears to have identified a support zone near the EMA 200. This support level holds particular significance.

However, it's important to note that if this crucial support fails to endure throughout the trading day, BNB may face the risk of a "death cross," which is a potent bearish signal in the world of trading.

Turning our attention to the MACD indicator, it reveals a bearish trend for BNB. While this may seem contradictory to the EMA 50 and EMA 200, it's essential to consider the MACD as a fast-moving signal. In this context, it provides a distinct perspective. For instance, if the slower-moving indicator remains bullish while the fast-moving indicator is bearish, it suggests the possibility of a bullish correction within the market. This could present an opportunity for strategic buying during periods of weakness.

Crucial resistance levels to monitor include the EMA 50 at 210 and the most recent swing high at 213, as highlighted within a blue rectangle on the chart. These levels will be key reference points for traders and investors.

Key Economic News to Watch Today
US, Initial Jobless Claim
Forecast 212K vs Previous 209K

US, Philadelphia Fed Manufacturing Index
Forecast -6.4% vs Previous -13.5%

US, Existing Home Sales
Forecast 3.89M vs Previous 4.04M

→ Click Here to READ more Market news ←

Market Analyst
Baxia Markets
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Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit

Hello traders! Baxia offers the latest release of analytics on top traded assets to better understand the current market conditions for more efficient trading. Let's dive in and discuss today's market outlook on: EURUSD!


EURUSD displayed notable bullish momentum during Thursday's trading sessions, fueling optimism for a sustained uptrend. In the subsequent Asian trading hours, a bullish correction further affirmed the potential for a continued upward trajectory, with prospects of overcoming key resistance levels ranging from 1.0631 to 1.0638.

Analyzing the hourly timeframe chart, a significant development emerged as the EMA 50 and EMA 200 formed a golden cross, a bullish indicator indicating a favorable market sentiment. However, vigilance is warranted, as the EMA 200 assumes a critical role as a key level of support. Should a sudden reversal drive prices below the EMA 200, it would signal a potential downward movement.

Turning to the MACD indicator, the outlook remains bullish, with the histogram and signal line both positioned above the 0 level. Although the histogram currently resides below the signal line, both indicators being above the 0 level signify a corrective phase. This analysis aligns with the notion that EURUSD recently experienced a bullish correction. An impending bullish rally may be anticipated when the histogram crosses above the signal line, further reinforcing the positive market sentiment.

In conclusion, EURUSD's recent bullish rally and subsequent correction reflect a dynamic market that traders must carefully navigate, particularly around the crucial EMA 200 support level. The MACD indicator's posture also adds a layer of complexity to the assessment, warranting a close watch for potential shifts in market dynamics.


Key Economic News to Watch Today
Japan, Retail Sales
Forecast 2.7% vs Previous 3.1%

UK, Retail Sales
Forecast -0.2% vs Previous -1.3%

Germany, PPI
Forecast -6.4% vs Previous -13.5%

Canada, Core Retail Sales
Forecast 0% vs Previous 1.0%

Canada, Retail Sales
Forecast -0.3% vs Previous 0.3%

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Market Analyst
Baxia Markets
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