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Gold price today: Continuous increase of nearly 300 pipsHello everyone, yesterday gold experienced a quite significant recovery. At the beginning of the session, gold traded stably, but near the end of the session, this metal quickly increased and recovered more than 280 pips. Currently, gold temporarily closed at 2332 USD and increased about 1.24% during the day. Accordingly, gold prices increased despite the USD index anchoring at a high threshold. Although under some pressure, the fact that gold is still above 2,300 USD/ounce proves that buyers still actively consider the adjustment and price decrease as Good opportunity to increase gold holdings.
OANDA:XAUUSD
by HamedMarkets
3
Gold price today: Recover more than 100 pipsHello everyone! What do you think, where will gold close today? In this analysis, I'll be focusing on gold's recent recovery. The precious metal recently broke out of its short-term upward trend after surpassing the trendline. Despite this, it has found new momentum and is currently hovering around the psychological level of $2300. Looking at the 1-hour chart, I’ve observed that gold has rebounded over 140 pips. It seems to be targeting the $2323 level, with the next resistance around $2338. That's my take. What about you? Do you think gold can reach these targets, or will it pull back again? Let me know your thoughts in the comments!
OANDA:XAUUSD
by HamedMarkets
3
Gold Price reduced at the end of the trading session!Hello everyone, today the price of gold continues to trade around the psychological level of 2300 USD. Accordingly, gold was not beyond my prediction when it approached 2300 USD to receive new resources around this support area. After the Fed's above announcement, gold lost its inherent momentum, causing the number of investors buying to decrease significantly. Not only that, the gold market also witnessed strong selling momentum after the US Bureau of Labor Statistics announced that the consumer price index (CPI) in May remained high, the main reason why the Fed extended the Delay interest rate cuts. Gold price forecast: -In terms of market psychology as well as news: negative reaction to monetary policy and pressure from the rising USD, weaker buying demand from China makes it difficult for gold to increase in price during this time. - Technically: Gold is in a downtrend, the price moves below the resistance level and the Trendline line decreases. The price is affected by the EMA 34, 89 which is still beneficial for selling momentum. The reduction target to the support level of 2288 USD is again targeted in the short term.
OANDA:XAUUSDShort
by HamedMarkets
EURUSD: Prioritize the downtrend!Hello fellow EURUSD trading lovers! Today, we see EURUSD continuing its downtrend, with the price currently hovering around 1,080. -Market summary: Yesterday's developments: After this news, EURUSD quickly skyrocketed and filled the gap but could not maintain a long-term increase. Technical outlook: Price Pattern: The pair is trading in a narrowing wedge pattern, characterized by lower highs and lower lows. Short-term forecast: With these technical signals, EURUSD will likely continue to decline in the near future. I'm more inclined towards sales. What is your view? Do you see more opportunities on the downside or do you have a different view? Share your thoughts!
Short
by HamedMarkets
Today's Gold Price Update: A Continued DowntrendGold prices today continue to face downward pressure, currently trading around $2314, losing 0.45% for the day with a drop of over 100 pips during the early Asian trading session. Despite a strong rally last night that pushed gold close to $2350, the precious metal couldn't maintain its recovery. This was despite the U.S. Dollar weakening after the U.S. released its economic data. The USD took a hit after the U.S. Consumer Price Index (CPI) for May showed a faster cooling than economists had anticipated. The CPI remained flat after a 0.3% increase in April, while the forecast was only for a 0.1% rise. Gold Price Forecast: News Perspective: The Federal Reserve is expected to implement two rate cuts this year, with an 80% chance that the first cut will happen in September. This scenario typically leads to a weaker USD, which could benefit gold prices. Psychological and Technical Perspective: From a technical standpoint, gold remains in a downward channel. In the short to medium term, the market sentiment still favors selling gold. The EMA and trendline indicators continue to support the bearish outlook for gold. Key Points: Current Price: $2314, down 0.45% for the day. Support and Resistance: Unable to sustain gains around $2350. Economic Data Impact: USD weakened after lower-than-expected CPI data. Fed Rate Cuts: Expected to cut rates twice this year, with the first likely in September. Technical Indicators: EMA and trendline favor continued bearish movement. Stay tuned and watch for how these factors play out in the coming days. What’s your take on the current gold trend?
OANDA:XAUUSDShort
by HamedMarkets
EURUSD trading strategy! The selling trend is still strong!Hey everyone, What are your thoughts on EURUSD today? Looking at the 4-hour chart, EURUSD is currently in a recovery phase. The pair is filling the GAP and completing a retracement to the 0.5 - 0.618 Fibonacci levels. As of now, the price is sitting at 1.0759, reflecting a 0.05% increase for the day. It's expected that after completing this retracement, the price might resume its downward trend, just as illustrated on the chart! What’s your take on this? Let’s discuss your insights in the comments below!
Long
by HamedMarkets
Should we buy or sell EUR/USD today?Dear friends! Currently, EUR/USD is flat, staying just below the 1.0750 level during Wednesday's Asian session. With upcoming US CPI data and Federal Reserve policy announcements, it is best to avoid placing new bets on this currency pair until we see how these events play out. They are likely to significantly influence the performance of the US Dollar. If the downtrend continues, EUR/USD could first target the June low of 1.0719 and could then fall deeper to 1.0649.
Short
by HamedMarkets
4
XAUUSD: Waiting for a new selling opportunity from FOMCHi everybody, In today's trading session, gold prices increased slightly. However, the looming threat of a "hot" inflation report from the Federal Reserve's FOMC meeting starting this morning (June 12) could push gold prices down. While demand from bargain hunters has boosted gold prices, gains have been limited by a strong US dollar. Recent positive economic news from the US suggests the Fed may continue its current monetary policy for longer. Additionally, with several major central banks having already cut interest rates and possibly further cuts in the coming months, the dollar remains high and could rise further, putting pressure on gold. Stay tuned to see how the market behaves in the coming days!
OANDA:XAUUSDShort
by HamedMarkets
5
Gold→ Cause of decline. Can gold fall even lower? 2265Traders! Gold is making new lows and there are a number of reasons for that. Price after Friday's sell-off is returning to the downtrend boundary, which determines our medium-term outlook. So why is gold falling? The market is negatively affected by the strengthening of the dollar, due to positive Nonfarm Payrolls for the US market, which usually shapes the medium-term mood for the market. Traders also turned bearish on news regarding China's Central Bank suspending global gold purchases. Technically, it is very likely that the downtrend on H1 will continue. Resistance levels: 2300,2315 Support levels: 2291, 2267 I expect local strengthening ahead of the next decline. Traders may attempt to buy back some of the decline (collect liquidity) before further testing support with a view to a breakout.
OANDA:XAUUSDShort
by HamedMarkets
1
Gold price today: Costed the price of 2300 USDThe current situation: On June 11, 2024, gold price is trading around the psychological level of 2300 USD/ounce, increasing significantly compared to the previous closing. This increase takes place in the context of weakds of the dollar and the yield of bonds decreases slightly. Impact factors: -Global monetary and economic policy: Investors are expecting monetary policy decisions from the US Federal Reserve (Fed) this week. It is forecast that the Fed can keep or cut interest rates that weaken the dollar, creating favorable conditions for the increase in gold prices -Safety and investment bridge: Gold benefits from the role of safe shelter in the context of economic and financial instability. With concerns about global economic growth and fluctuations in the stock market, investors are looking for gold as a safe investment option. Forecast in the short term, gold prices are likely to maintain an increase trend if the support factors such as the dollar weakened and the bond yields decreased. From the technical analysis: Currently, the latest support threshold of gold is about 2310 - 2315 USD/ounce. Strong resistance threshold is determined at 2,385 USD/ounce. The breaking of this resistance threshold can bring gold to higher levels in the coming time
OANDA:XAUUSD
by HamedMarkets
Update gold prices every day of the weekFundamentally, gold is under dual pressure from both the US and China, which are noted as two very important fundamental impacts on gold prices. On the one hand, gold prices are under pressure because US macro data boosts market sentiment in favor of the possibility that the Fed will have to keep interest rates high for a longer period of time, which is beneficial for the USD and metals. unattractive quarter. On the other hand, China stopped buying gold after 18 consecutive months of buying, also making the market worried about profit-taking time. It is also possible that this will help the gold price adjust down so that the Central Bank of China can continue to buy at a better price, because they just stopped and did not sell. However, we (short-term traders) will be affected by this because it creates surprises in the market. There is nothing new in the geopolitical situation, so for the time being, we basically need to pay attention to US data and China's gold buying activities to quickly orient to changes without facing many uncertainties. doubt. Plan to trade on June 10 👨‍💻 XAUUSD SELL zone 2335 - 2337 🔹SL 2340 🔹TP 2330 - 2320 - 2310 In addition, Buy Scalping bets will be updated continuously, so please follow the group to earn the best profits ❤️❤️ Wishing you Full City
OANDA:XAUUSDShort
by HamedMarkets
2
AUDUSD SHORT FOREXCOM:AUDUSD High chance to big fall.....But wait for the 15M reversal confirmation for entry 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
1
USDJPY approaches key upside hurdle as Fed, BoJ week beginsUSDJPY extends Friday’s recovery from the 50-SMA while rising toward a six-week-old descending resistance ahead as the week comprising monetary policy announcements from the US Federal Reserve (Fed) and the Bank of Japan (BoJ) begins with mixed sentiment. It’s worth noting that the Yen pair’s sustained trading above the 50-SMA joins the upbeat RSI (14) and an impending bull cross on the MACD to underpin upside bias. However, a clear break of the aforementioned resistance line close to 157.55 by the press time, becomes necessary to convince buyers. Following that, 158.00, 158.40 and the 160.00 round figure will test the buyers. In a case where the bulls keep the reins past 160.00, the year 1990’s peak of 160.40 will be the final defense of the bears. Meanwhile, the 23.6% Fibonacci ratio of the USDJPY pair’s December 2023 to April 2024 upside, near 155.50, will precede the 50-SMA support of 155.10 and the 155.00 round figure to limit the short-term downside. Should the quote remain bearish past 155.50, an upward-sloping support line from late March, around 153.25 at the latest, will be the key support to watch. It should be observed that a daily close beneath 153.25, as well as a sustained trading beneath the 153.00 threshold, will make the Yen pair vulnerable enough to slump toward the multiple tops marked during late March and early April, near the sub-152.00 region. Overall, the USDJPY remains in the bullish mode as the key week begins.
by MTradingGlobal
Gold (XAUUSD) Trading at Lower End of the Hourly ChannelGold (XAUUSD) Trading at Lower End of the Hourly Channel: A Potential Rebound Gold (XAUUSD) is currently trading at the lower end of its hourly channel, around the 2312 level. This price point is significant as it aligns with a key demand zone identified on higher time frames. If the channel boundaries are respected, we could anticipate a recovery towards the upper end of the channel. Key Points to Consider: Support at Current Level: The 2312 level has historically acted as a strong support, coinciding with a demand zone on higher time frames. This increases the probability of a bounce from this region. Channel Dynamics: The hourly channel has been well-defined, with price consistently respecting its boundaries. Given this pattern, a move towards the upper end of the channel seems likely if the lower boundary holds. Trade Opportunity: This setup presents a potential long trade opportunity. Entering a position at the current level with a target near the channel's upper boundary could offer a favorable risk-to-reward ratio. Trade Setup: Entry: 2312 (current price level) Target: Upper end of the channel (to be determined based on the channel's slope) Stop Loss: Below the demand zone (specific level to be determined based on risk tolerance) Conclusion: Keep an eye on the price action around the 2312 level. If support holds, we could see a strong upward move towards the channel's upper boundary, presenting a lucrative trading opportunity. Always manage risk appropriately and adjust stop loss and take profit levels as the trade progresses. Happy trading! 🚀
FOREXCOM:XAUUSDLong
by ThirstyBull
Gold price waiting for news tonight will increase sharply!Gold held at $2,370 per ounce on Friday, hovering at two-week highs, as investors await the US non-farm payrolls data due later in the day to assess the country’s economy’s health and seek cues on the Federal Reserve’s potential rate-cut timeline. The bullion is also set for its first weekly gain in three, as recent slew of labor market data bolstered expectations that the Fed might at least slash rates twice this year. 🔴SELL GOLD: 2399 - 2401, SL: 2405 🟢BUY GOLD: 2352 - 2350, SL: 2346 🔝Technical analysis: Yesterday, gold returned to test support + Trend H4 as expected and continued to increase strongly to the Sell area 2378-2380, in response falling another 10 prices. Currently, the price range of 2380-2355 seems to be kept until Nonfarm tonight ⛔️Breakout: 📈 Breakout on: 2380 - 2400 - 2414 📉 Breakout below: 2350 🔼Support: 2351 - 2345 - 2340 - 2330 🔽Resistance: 2390 - 2400 - 2405 - 2414 GOOD LUCK EVERYONE👍
OANDA:XAUUSDShort
by Scalper_Ananda
Crude Oil bears attack key support despite upbeat OPEC+ verdictWTI Crude Oil prints a four-day losing streak while falling to over a week’s low early Monday. In doing so, the black gold fails to justify the OPEC+ decision to extend the supply cut agreement toward the end of 2024 and gradually withdraw it in 2025. It’s worth noting, however, that a four-month-old horizontal support zone surrounding $76.20-75.80 will join the nearly oversold RSI (14) line to challenge the energy bears afterward. Should the commodity drop beneath the stated key support region, the $74.20 might act as an intermediate halt during a southward trajectory targeting February’s bottom of near $71.40-35. Meanwhile, the Crude Oil recovery remains elusive unless the quote jumps back beyond the 61.8% Fibonacci retracement of February-April upside, near $77.60. Even so, a convergence of the 200-SMA and a two-month-old descending trend line, close to the $80.00 threshold, will be a tough nut to crack for buyers before taking control. In a case where the commodity prices remain firmer past $80.00, the odds of witnessing a gradual run-up toward the late April swing high, around $84.45, and then to the yearly peak of near $87.63, can’t be ruled out. Overall, Crude Oil ignores the latest bullish catalyst to approach an important support as energy traders now focus on US PMIs and NFP data.
FX:USOIL
by MTradingGlobal
NASDAQ - IDEA - SETUPFOREXCOM:NAS100 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!!!!
FOREXCOM:NAS100
by Phinics
US30 SetupFOREXCOM:US30 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!!!!
FOREXCOM:US30Long
by Phinics