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Gold and its direction in the future!Hello astute and wealthy traders! Let's delve into today's market dynamics! Gold (XAU/USD) continues to maintain a consolidating sideways trend this Tuesday, staying within the familiar range established over the past three weeks. However, the balance seems to be leaning towards the bullish side as the Federal Reserve prepares for a less restrictive policy stance, promising favorable winds for this precious metal. Speculations are mounting that the Fed will start a rate-cutting cycle in June, coupled with a slight decrease in US Treasury yields, causing the US Dollar (USD) to enter a defensive price increase. Furthermore, political tensions arising from the ongoing Russia-Ukraine conflict and the uncertain ceasefire in Gaza Strip indicate that the smoothest path for safe-haven gold remains upward.
OANDA:XAUUSD
by RKarina
EURUSD: Continuous discounts!Hello dear traders! What do you think about EURUSD today? After a strong increase on Wednesday, EUR/USD turned bearish on Thursday, ending the day in the red. The downward trend continued into Friday, with temporary trading fluctuating around the 1.0800 level. The strength of the US dollar has truly reversed the direction of EUR/USD, aligning perfectly with our previous forecasts. Looking ahead: The currency pair is currently moving through a significant support zone as marked on the chart. There is a possibility of a recovery, aiming to retrace to the Fibonacci 0.5 - 0.618 retracement level while testing the 34 and 89 EMA. A successful breach above this level could open up further recovery phases. Conversely, breaking below the current support level would present a golden opportunity for sellers. Let's watch and see what unfolds with this currency pair!
Short
by RKarina
USDJPY- Bears continue to prevail!Hello everyone, it's RKarina here again! Currently, USD/JPY continues to consolidate below the 151.50 level in the Asian trading session on Tuesday. Concerns about the Japanese government's potential intervention to strengthen the Yen are dampening the upward momentum, coupled with the overall weakness of the US Dollar, which is limiting the strong upside potential for this currency pair. With this scenario and technical outlook, the bearish camp seems to have the upper hand at this stage. The upward trend has gradually cooled off and shifted into a sideways movement. In the short and medium term, selling remains a preferred strategy, targeting two potential price levels for a decline.
Short
by RKarina
Gold price today: The momentum of "downward" is not slowing downHello everyone, let's find out how the price of gold fared last week and strategize for the upcoming week! Last week marked a significant moment for gold as it reached an all-time high of nearly $2222 USD. Market news, particularly rumors of the Federal Reserve cutting interest rates this year, played a crucial psychological role for investors, leading to continuous manipulation and volatility in the price of gold. Currently, the $2222 USD peak is not sustained, and the strong recovery of the US Dollar on the last trading day has exerted considerable pressure on gold. Despite a 0.7% decline in the day, gold still slightly increased compared to the previous week's closing price, stabilizing at around $2165 USD. Looking ahead: The prospects for the next week indicate that the price of gold may experience further adjustments. The immediate short-term target is to retest the EMA 89 line (support area around $2148 USD). If this support level is broken, we are likely to lean towards selling, with a high possibility that gold will touch the $212x level next week! What are your thoughts on the future price movement of gold?
OANDA:XAUUSDShort
by RKarina
6
Analyze and evaluate the new weekly gold strategy!Hello dear friends, are you curious about the gold price trend this week? As we enter a new week, gold has been steadily increasing by $10, reaching $2175 in Asian trading session. In the short term, it seems poised for further growth, although it may encounter resistance around the $2185 level. The monetary policy decisions of the Federal Reserve in June could significantly impact the trajectory of this precious metal. Details on the Outlook: A survey on Wall Street reveals mixed expectations: 40% predict higher prices this week, 27% anticipate a decrease, and 33% expect stable trading. Meanwhile, an online poll on Main Street shows a bullish outlook, with 69% predicting price increases, 25% expecting a decrease, and 16% maintaining a neutral stance on the short-term outlook for gold.
OANDA:XAUUSDShort
by RKarina
3
Gold price today: Stable waiting for new news!Gold Update: In the early trading hours in Asia on Monday, the price of gold (XAU/USD) comfortably fluctuated around the $2,100 mark, receiving support from speculation that the Federal Reserve may cut interest rates by the end of this year. Investors are awaiting the release of the US Gross Domestic Product (GDP) data for the fourth quarter, which is expected to remain stable at 3.2% and potentially create new momentum. Currently, gold is trading around $2,168, marking a modest increase of 0.15% for the day. Following the March meeting of the Fed, where they chose to maintain the benchmark interest rate between 5.25% and 5.50% for the fifth consecutive time, Fed Chair Jerome Powell hinted at a plan to cut interest rates three times in 2024, boosting investor interest in the precious metal and pushing gold prices higher. According to the CME FedWatch Tool, the likelihood of the Fed starting to cut interest rates in the June meeting has increased to 72% from 65% after the interest rate decision. Personal Information: After the terrorist attack in Russia, the price of gold slightly increased, returning above $2,170. The market appears stable but may face a short-term decline between $2,150 and $2,180.
OANDA:XAUUSD
by RKarina
AUDJPY: Ending Diagonal Pattern; A Reversal on the Horizon.The advance from Mar 24, 2023 low of 86.06 subdivides into five waves. Notice that this price action contains overlapping waves that contract and form a wedge shape. That is the emblem of an ending diagonal which cues a swift and dramatic reversal on the horizon. According to Elliott Wave guideline, the expected reversal is projected to reach at least the point where the diagonal initiation occurred, and potentially extend beyond. In this instance, the relevant level is identified by the conclusion of wave ((b)) at 86.06. A salient attribute of ending diagonal is that all initial subwaves form either a single or multiple zigzag patterns. Waves (i), (iii), (iv) and (v) appear to be single zigzags, while wave (ii) is a double zigzag. Wave (v) often makes a throw-over (a brief break beyond the trendline connecting waves (i) and (iii) ). A throw-over suggests a diagonal has finished. Once price action pushes below the trendline connecting waves (ii) and (iv), we would have compelling proof that the diagonal has ended. The next event should be a swift move to at least 86.06 and probably beyond. The wave count is not the sole basis for considering a short position. Beyond what is illustrated, there has been a divergence in prices and MACD since June 16, 2023, suggesting a diminishing upward momentum and indicating a weakening uptrend. Despite new highs in prices on November 16, 2023 and February 21, 2024, MACD did not follow suit. This bearish divergence frequently foreshadows a potential downturn in prices. (Insert MACD on your chart and draw a trendline connecting the highs) Trading Plan Entry: Sell above wave (iii) high. Protective Stop: 100.95; the price level at which wave (v) would be longer than wave (iii), which would render our diagonal scenario invalid. As a rule, within a contracting ending diagonal, wave three is always shorter than wave one, and wave five is always shorter than wave three. Target: 86.06 and below Risk-Reward: 1:5
Short
by Aquanet_Market_Forecast
EURUSD 15M 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!!!!
Long
by Phinics
USDJPY : Price increases continue under limited regime!Hello dear friends, let's discuss and devise our strategy for the new day together! USD/JPY is witnessing a decline, fluctuating near the 151.00 level, as the Japanese Yen faces significant buying pressure amidst concerns about Japan's potential forex intervention, especially after this exchange rate reached a new high since the beginning of the year at 151.86 last Friday. Minutes from the Bank of Japan's meeting in January further weakened the USD/JPY pair. From a technical perspective, if USD/JPY continues to trade below the marked resistance level, it may still face pressure and potentially decline further.
Short
by RKarina
GBPUSD continues to bounce back!Hello dear friends! GBPUSD is showing signs of recovery this Monday, bouncing back after a significant drop at the end of last week. The recovery started when it touched the Trendline, although the overall trend is still bearish due to the momentum the US Dollar (USD) has gained from Wall Street activities, despite the declining interest rates that have reinforced the potential recovery of this currency pair. In the short term, I lean towards a buying strategy, aiming for the resistance level at 1.267. What about you? Do you think now is a good time to buy?
Long
by RKarina
EURUSD: DiscountThe EUR/USD has declined to the 1.0840 level in early Asian trading on Friday. This decline is believed to be due to the strength of the US dollar and higher US Treasury yields. Traders are eagerly awaiting Germany's IFO Business Climate Index on Friday, before Federal Reserve Chairman Powell's speech. From a technical analysis perspective, a pattern has formed signaling a downward trend for this currency pair. In theory, the price will break below the support level, creating a false breakout at 1.0835. EUR/USD may continue to adjust downwards within the range of 1.081 - 1.080 by the end of this trading week!
Short
by RKarina
1
EURUSD: Buy now?Hello everyone, let's find out what's happening with EURUSD today! Last Friday, EURUSD ended the week with a downward trend. But today, it has found some support at the 1.080 level, causing a slight comeback with the current price hovering around 1.082 as it aims for a recovery towards the Fibonacci target of 0.5 - 0.618. If it can maintain the 1.080 support level, EURUSD still has a chance to rise. However, we should closely monitor the Fibonacci zone of 0.5 - 0.618 as sellers may push this currency pair down once again within this range. What do you think? Do you see EURUSD shifting towards an upward trend?
Long
by RKarina
USDJPY: Sell now?Hello dear friends, are you curious about the direction of USDJPY today? At the beginning of Friday, the USDJPY pair showed a slight decline, pausing its strong upward momentum when encountering resistance near the record high level. The Japanese Yen strengthened after the release of Japan's consumer inflation data. Uncertainty about the future policy steps of the Bank of Japan could hinder further price increases. The modest decline of the US Dollar is causing some pressure, although weaknesses are somewhat contained. Looking ahead: Technical analysis charts indicate the formation of a double top pattern. In this scenario, the SELL strategy will be prioritized, targeting 150.70 and then 149.21 respectively.
Short
by RKarina
1
Gold Price Driven by Modest USD StrengthHello everyone! Let's delve into the sparkle of gold prices today! In the News: Today, gold (XAU/USD) is struggling to capitalize on its recent rise from the Simple Moving Average 100-hour support level around $2166-$2165. Instead, we are witnessing a decline in Asian trading session this Friday. Despite the Federal Reserve's policy update on Wednesday, investor focus is gradually diminishing as the US dollar strengthens, thanks to optimism about US economic growth. This resurgence, coupled with increasing US Treasury yields and prevalent risk appetite, is putting downward pressure on this traditional safe haven asset. Personal observation: After reaching a peak at $2222, gold prices plummeted, retreating to the $2170 range. Economic indicators continue to reinforce the US dollar. Looking ahead: The Fed's stance on maintaining interest rates and ongoing global political tensions may boost gold's upward movement in the near future. However, we should be prepared for a continued downward trend in today's trading session. Stay tuned for a day filled with opportunities or challenges.
OANDA:XAUUSDShort
by RKarina