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Gold Price Plunges Under Pressure From Rising USD and US StocksThe current chart shows that gold prices are under great pressure as the USD Index surged to 105.12, making the USD stronger. This has reduced the attractiveness of gold to international investors. In addition, optimism about the US economic outlook under President Donald Trump and expectations that the FED will pause interest rate cuts have also contributed to the decline in gold prices. The next important support level is at the $2,620/ounce area, a price level that has previously produced a rebound. If the price falls to this level, this could be the point where traders wait to see if there is enough buying pressure to create a temporary recovery. However, if the price breaks the $2,620 level, the price is likely to continue to fall further, towards lower support levels such as $2,600 or $2,580/ounce. Given the current economic factors and the growth outlook of the USD, gold may continue to be under pressure in the coming time, especially when the demand for holding USD is still increasing.
OANDA:XAUUSD
by Maria_aaa
2
EUR/USD: Sellers in Control, Downward Pressure Rising!Currently, the downtrend dominates as the price continues to stay below the 34 and 89 EMAs, indicating that sellers still hold control of the market. The chart shows the nearest resistance area around 1.0850, while a crucial support zone lies around 1.0720. If the price reaches the resistance area, it will likely encounter strong selling pressure and may reverse downwards toward the support zone. The RSI indicator is currently at 44.78, not yet in the oversold zone, but still showing considerable downward momentum. With major upcoming economic events (marked by flag symbols), the market could experience significant volatility, creating trading opportunities. If the price fails to break through the resistance, this may signal a continued downtrend. Conversely, if the price breaks the resistance, the downtrend could be invalidated.
Short
by Nava_Brish
2
Gold trying to re claim 2700...What next?we have seen good comeback of gold price in yesterday trading session and gold price tested 2700 level again, on price action gold price re-tested the trendline from where the price breakdown on Wednesday and seems like facing resistance now. In yesterday trading session we have not seen and major rejection in higher side and till now there is no major rejection as of now , so idea is today is to wait for a good confirmation on H4 , or wait till London session , if price stays below 2700 then we can look for sell opportunities Or For a safe sell entry wait for price to either test on main resistance area 2717-37 (fib resistance area) or let it breakdown the daily pivot for today which is at 2685.
OANDA:XAUUSDShort
by iambalramkashyap
USD/JPY Approaches Resistance: Will the Uptrend Continue?USD/JPY is currently in a strong uptrend as the price remains above both the 34 and 89 EMA lines. This uptrend is reinforced by a rising trendline below, acting as a key support level. The price is approaching a resistance zone around 155.00. If USD/JPY can break through this resistance, the uptrend may continue, with the next target higher than the current price level. Trump's victory may boost the USD due to expectations of new economic policies, creating downward pressure on the JPY and pushing USD/JPY higher. The upcoming Fed decision could further support this upward momentum.
Long
by Nava_Brish
EUR/USD Under Selling Pressure: Resistance Blocks Recovery?The 1-hour chart of EUR/USD shows a downward trend with a rounding top pattern, highlighting dominant selling pressure. Currently, the price is hovering near the resistance level of 1.07581 USD. If it fails to break through this level, EUR/USD may continue its downward trend towards the strong support area around 1.06904 USD, where buying interest could emerge. If this support level is breached, the pair could experience a deeper decline. Investors should closely monitor price reactions at these resistance and support levels to make well-informed trading decisions. Latest news impact: Recent strong U.S. economic data has boosted the USD, adding extra pressure on EUR/USD.
Short
by Nava_Brish
XAU/USD: Gold Stuck in Downtrend ChannelBased on the XAU/USD chart on November 9, gold prices are currently "stuck" in a descending channel, with the 34 and 89 EMA lines forming a strong resistance zone around 2,708 - 2,715 USD/oz. This acts as a "wall," blocking gold’s recovery path, showing that sellers still dominate. On the downside, the support level around 2,621 USD/oz serves as a temporary "safety net." If gold holds at this level, there may be a slight rebound to test the upper resistance. Conversely, if this "net" breaks, gold could slide further down within the channel. News factor: Trump's election could push XAU/USD higher due to increased political uncertainty, but it could also pressure prices downward if a stronger USD is expected from positive economic policies.
OANDA:XAUUSDLong
by Nava_Brish
1
GBP/USD Waiting for Breakout in Downward ChannelGBP/USD is currently moving within a downward channel with resistance around 1.3000 and support at 1.2850. If the price breaks the upper channel boundary, an uptrend could be formed, with the target of reaching higher highs. Conversely, if the support at the lower boundary is broken, the downtrend could resume, pushing the price lower. The EMAs (34 and 89) are sloping downwards, indicating weak bullish momentum. Traders should keep a close eye on the channel boundaries to determine the next move.
by Maria_aaa
Gold Faces Strong Selling Pressure, Heading Towards Key SupportGold is facing strong selling pressure below a descending trendline defined by lower highs. All three approaches to this trendline were rejected, indicating strong short-term selling pressure. With the current selling pressure, I think there is a high possibility that the price will continue its downtrend and head towards a strong support zone around $2,650/ounce. If this support zone is broken, the downtrend could push the price further down, towards $2,620 or even lower.
OANDA:XAUUSD
by Maria_aaa
USD/JPY Double Top Pattern PredictionFrom my observation on the USD/JPY chart, there are signs that the pair may be forming a double top pattern. The current key top is around 156.0 – this is a strong resistance level that the price has reached twice without being able to break out. This is a warning sign for a possible reversal, especially when buying pressure starts to wane. With the double top pattern, if the price drops and breaks through the support area near 152.0, I think there is a high chance that the pattern will be confirmed. In this scenario, the downtrend could continue, and the price could head towards the lower support area around 151.0. That would be a point where I would consider entering a short position if the downtrend is confirmed.
by Maria_aaa
Gold is under pressure on Intra dayGold price is still in range ,The US Dollar Index gains ground as early exit polls increase volatility and seems like that the rise in DXY adding pressure on gold , Gold price is hovering over to Gann -90° Level (2737) from the beginning of the week. In higher side the weekly Pivot (2750) is acting as resistance and under this level price can make a move in down side. In down side we have to watch price action at Gann -120° Level (2720) , weekly Pivot 2710 and 2700 for possible buy opportunities (On confirmation on Higher time frame). For Intra day selling seems to be good as of now.
OANDA:XAUUSDShort
by iambalramkashyap
EURUSD - 15M TIMEFRAME ANALYSISFOREXCOM:EURUSD Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
Short
by Phinics
Technical Analysis Part - 3Volume can confirm divergence signals by indicating the strength and conviction behind price movements. High volume during divergence signals strengthens the reliability of the signal, while low volume may indicate weaker market sentiment. The basic rule of thumb is that an RSI value over 70 indicates a stock is “overbought” and may see its price fall in the future. Meanwhile, an RSI value of 30 or lower can mean that the price could go up. An RSI of 50 is often seen as neutral, meaning the stock has not been either overbought or oversold.
NSE:BANKNIFTYEducation
by SkyTradingZone
Technical Analysis Part - 4The MACD is a momentum indicator that can be used to anticipate changes in market sentiment. However, it is not foolproof: experienced traders look to other metrics, such as trading volume, for a more complete perspective on market sentiment. Key Takeaways The moving average convergence divergence (MACD) is a popular momentum indicator that is used in technical analysis. The MACD is calculated by comparing exponential moving averages in a security's price. The MACD line is charted alongside a nine-day moving average of the MACD line, called the signal line, and a histogram representing the difference between these two curves. Traders use the MACD histogram to anticipate changes in market momentum. MACD analysis can still generate false price predictions. Experienced traders use additional metrics and fundamental analysis to support their forecasts.
NSE:BANKNIFTYEducation
by SkyTradingZone
Gold back in range Gold price is now again entered in range area and we have to wait for breakout this range area for next move, The uncertainty around the US presidential election and Middle East tensions might boost the safe-haven demand, supporting the gold price. On volume profile we can see that the current price is trading under High Volume area, in Lower side if price breakdown Friday low then we can expect test at weekly S1 or at psychological support at 2700, In higher side the resistance is at weekly pivot (2750) and Friday High (2761) is main hurdle for bulls. To conclude this we have following trade opportunities for Intraday : Currently we have to wait as price is in range: and after range breakout: For buy either wait for breakout on Friday High or wait for lower Levels near 2700-10 area. For sell: Wait for breakdown the Friday Low
OANDA:XAUUSD
by iambalramkashyap
Gold Prices Continue to Surge, Reaching New HighsHas everyone seen today’s news on gold prices? Gold never ceases to fascinate me – what a fantastic day! Gold prices today have continued their strong rise, setting a new record. This rally is driven by investor concerns ahead of the upcoming U.S. presidential election. During times of political instability, gold is often viewed as a safe-haven asset, attracting strong capital inflows. Additionally, concerns about the global economic situation are adding to gold’s appeal. Looking at the technical chart, gold’s price is supported by the 2,749 and 2,715 levels, giving it a double layer of strength and making it easier to break the 2,787 resistance level. The upward trend is further reinforced as the 34 EMA and 89 EMA lines have yet to show any signs of reversal. From these positive indicators, investors can anticipate a continued short-term upward trend. If gold maintains above these support levels, a new peak is certainly within reach. Do you think gold will keep rising, or will it give us a scare with a reversal? Let me know what you think!
OANDA:XAUUSD
by Alisa_Rokosz
EUR/USD Drops Close to 1.0800Join Alisa for the latest update on the EUR/USD currency pair! The Euro is under pressure due to expectations from the ECB regarding a potential cut in deposit interest rates. Currently, the market is pricing in nearly a 50% chance of a 50 basis-point rate cut in the December meeting. Additionally, the EUR/USD pair’s weakness is compounded by a strengthening USD amidst the uncertainty surrounding the U.S. presidential election, as the race is nearly tied ahead of November 5th. All these factors paint a rather bleak outlook for the Euro in the near term. EUR/USD declined after two days of gains, trading around 1.0818 during Asian hours on Wednesday. Looking at the technical chart, the 34 and 89 EMAs have reversed, further reinforcing the downtrend for this pair. With significant resistance at 1.0823, the EUR/USD pair is likely to pull back toward the support level at 1.0813 and may even continue its decline to the previous support at 1.0797. The current situation indicates that the Euro may continue to face challenges, and investors should closely monitor upcoming developments to make informed decisions in this context.
by Alisa_Rokosz
Gold Price on October 30, 2024: Reaching a New RecordAs I predicted yesterday, gold prices have reversed and surged sharply. This increase is driven by concerns surrounding the U.S. election, tensions in the Middle East, and expectations that the Federal Reserve (Fed) will cut interest rates in November. All these factors have propelled gold to an all-time high. Furthermore, the intensifying competition between Donald Trump and Kamala Harris ahead of the November 5 election has also contributed to this upward momentum. Examining the technical chart, gold is trading around 2,778, up by 0.1%. In an upward price channel, gold is gaining momentum, moving towards new targets. If this trend continues, gold may conquer the next resistance levels, with the 2,800 mark within sight. Technical indicators like the RSI and MACD are also showing strong buy signals, further strengthening the positive outlook for this precious metal. Does anyone else share my prediction? If you have more solid insights, feel free to comment and let me know!
OANDA:XAUUSD
by Alisa_Rokosz
Gold near 2800Gold climbs to new ATH at 2,781 as mixed US data bolsters expectations of a Fed rate cut in November. Last day candle is a good bullish candle and gold price moving higher today in continuation , price is now trading above weekly R1(2767) and testing rising wedge pattern resistance trendline on daily time frame , from here price can test psychological level 2800 or Monthly R2 (2811) and then we can expect some correction or profit booking as per daily TF ,right now there are two possibilities if we watch price action on higher time frame: First one is that price can make good correction now after testing 2780-2800 Second one is that price can make another broad range( 2750,60 -2780,2800 ) on daily before next move . The US Bureau of Economic Analysis going to reveal GDP for the third quarter today and core PCE data tomorrow which can add good volatility on Gold price for Intra day.
OANDA:XAUUSD
by iambalramkashyap