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Gold price today: The downward trend has no endHello readers, What do you think about gold price developments today? Gold is currently trading at about 2,318 USD/ounce, down slightly by 0.17% compared to yesterday, equivalent to a decrease of nearly 5 USD at this time and is in a downtrend. This precious metal encountered a significant decline after investors took profits, unable to maintain the psychological level of 2,400 USD. Gold prices have fallen to their lowest level in more than two weeks due to reduced concerns about tensions in the Middle East, while the market is still waiting for important economic data to provide more clarity on the possibility and timing of a cut. reduce US interest rates. Recent comments from Federal Reserve officials suggest there is no urgent need to cut interest rates, reducing the appeal of gold, a non-yielding asset class. Traders predict that the Fed's first rate cut may not come until September, so gold prices may need more time to stabilize.
OANDA:XAUUSDShort
by RKarina
USDJPY: Still keeping ourselves in the high price zone!The Japanese Yen (JPY) is currently struggling to capitalize on any gains against the US Dollar, remaining near multi-decade lows. The Bank of Japan (BoJ) is not in a hurry to normalize monetary policy, while the US Federal Reserve (Fed) is forecast to keep interest rates higher for a long time due to persistent inflation. This reduces the appeal of the Japanese Yen as a safe haven. Meanwhile, the US Dollar (USD) continues to strengthen, supported by hawkish policy expectations from the Fed, although there is speculation that Japanese government intervention could limit gains. This. Upcoming decisions from the BoJ along with key economic indicators from the United States will be the key factors determining the short-term direction of the USD/JPY currency pair.
Long
by RKarina
Update the latest gold price today!Hello dear friends! Today, let's explore the latest developments in the gold market. As Tuesday's trading session began, we saw gold prices quickly decline. Currently, the price of this precious metal has decreased by about $26, fluctuating around $2300, which is down 1.08% over the day. This price decline followed after gold reached a peak of 2,400 USD, before entering the current correction. Easing fears of a broader conflict in the Middle East, coupled with the tech industry's rapid recovery on Wall Street, have caused gold to lose some of its appeal. Looking at technical analysis, gold's bearish outlook could continue on the daily chart. The next target could be a rendezvous with the 34 EMA and then a test of the lower bounds of the 89 EMA. This pullback is also in line with the Fibonacci levels of 0.5 to 0.618, where sellers have identified main stop. Now, I would like to return to you, investors and market lovers. Do you think we should join the buying side to take advantage of this opportunity, or should we side with the selling side and wait for the price to continue to fall? Please share your thoughts and let's make this conversation more interesting!
OANDA:XAUUSDShort
by RKarina
GBPUSD: Sellers Continue to Get the Advantage!Hello dear fellow travelers! What are your thoughts on the direction of GBPUSD? Current rumors suggest GBP/USD is moving cautiously, near 1.2350, which is the lowest level since mid-November, when Tuesday's Asian session first began. The USD index is consolidating its position above 106.10, while traders patiently await global PMI data from the US and UK for April, which has kept the direction of GBPUSD becomes vague and lifeless. However, a look at the chart shows that the pair is likely to resume its downtrend after the brief sideways period ends. GBPUSD remains on its old path below the 34 and 89 EMA pair. This consistency bodes well for bearish supporters, showing that the downtrend remains popular!
Short
by RKarina
EURUSD: Trend is unclear!Hi everybody, EUR/USD is approaching a key zone near 1.0650, after a fairly quiet Tuesday when the pair remained largely unchanged, awaiting a series of upcoming economic data. Both the US and the Eurozone are preparing for the release of Purchasing Managers' Index (PMI) figures next Tuesday, while key US figures will be released later. week, amid speculation about the possibility that the US Federal Reserve (Fed) will cut interest rates. In the current context, a triangle pattern may appear on the chart, and the possibility of a breakdown of this pattern is very high, leading to a clear change in either direction. While the 34 and 89 EMA lines are still not showing clear signals because they are located right in the current operating zone of EUR/USD, closely monitoring new information will be the key to determining the next trend. according to this currency pair. I am hoping for a positive development. How about you?
by RKarina
1
Gold price today: Decrease freelyHello everyone, what do you think about the gold price today? Recently, gold has experienced a significant price drop, from nearly 2400 USD to about 2311 USD, down nearly 65 USD compared to the previous day. So what has led to this sharp decline in gold prices? Global economic news: Before the June monetary policy meeting of the US Federal Reserve, the market temporarily eliminated expectations for interest rate increases until developments in the Middle East became clear. than. The reduction in geopolitical tensions in this region has increased selling pressure, causing a decline in gold prices. Market sentiment: Gold is considered overbought, leading to investors starting to sell off to relieve pressure and take profits after recent price increases. Technical analysis: The downtrend was confirmed when the downtrend line was successfully crossed. Resistance at $2400 remains intact as investors sell. Currently, gold is finding support at around $2305 and is likely to rebound slightly, but is likely to face new resistance at the Fibonacci retracement level between 0.5 and 0.618 (after the support level). 2345 USD broken). The target price of 2270 USD is the point that sellers are aiming for, especially when the psychological level of 2300 USD continues to weaken under strong selling pressure. I predict that gold prices will continue to adjust in the near future. How about you?
OANDA:XAUUSDShort
by RKarina
2
EUR/USD turns south to 1.0650Hello everyone, it's RKarina again! EUR/USD has turned lower after rising in previous trading sessions, currently stabilizing around 1.0650 during the European session on Monday. The current trend of the pair is bearish, recorded at 1.064, because of increased demand for the US Dollar as a safe haven due to the decline in risk appetite. The market is currently very cautious due to the lack of important economic data from the EU and US. Lagarde's upcoming speech is highly anticipated. From a technical analysis standpoint, current signals favor a selling strategy, after the price has approached and failed to break through support, along with the formation of a double top. In the short term, it is expected that the 1,062 level will be retested after the current support level is broken by investors selling off.
Short
by RKarina
Gold price dropped shockingly on the first day of the week!Hi everybody! As I am writing these lines, XAUUSD has seen a significant price drop, down $35 in the early hours of Monday morning and is currently sitting at around $2356. The short-term outlook suggests further downside is likely. Current chart analysis shows that gold is under downward pressure after overcoming two key support levels. This reflects the adjustment process after a week of strong price increases, when investors began to sell to take profits. If support at $2050 fails to hold, gold could continue to decline. However, on the positive side, gold still has a chance to recover. It will soon face resistance at the Fibonacci retracement point between 0.5 and 0.618, which coincides with the intersection of the 34 and 89 EMA. Gold needs a strong push to overcome this resistance if it wants to continue. continue the upward trend in prices. Regarding market forecasts, a recent survey of 14 Wall Street analysts showed a strong belief in the bullish prospects of gold: 72% of them predicted that gold prices will increase, 21% think prices will stabilize, and only 7% predict prices will decrease.
OANDA:XAUUSD
by RKarina
1
Update gold price at the beginning of the week!Hello everyone, let's explore the price movements of gold in the new week! At the beginning of the trading week, gold quickly adjusted downwards, losing nearly $23 in the first few hours of the Asian trading session. Currently, the price of gold is at $2369 and it is projected that in the short term, this metal may continue to decline after reaching the trendline and forming a descending triple top pattern. However, in the long term, gold still has an upward trend. The ongoing instability in the Middle East continues to drive the demand for gold as a safe haven asset to cope with political uncertainty. In terms of prospects and expectations for the week: This week, we should pay attention to economic data including new home sales figures for March released on Tuesday, durable goods orders for March on Wednesday, pending home sales, initial jobless claims, and preliminary Q1 GDP (including quarterly PCE) on Thursday, and March PCE on Friday. These will be crucial in determining the future movements of gold, so closely monitor them to stay updated on trading opportunities!
OANDA:XAUUSD
by RKarina
USDMXN - Ready to Blast Again ? Last week, I took long position in UDMXN at 16.66000 & Closed at 16.92500 Closed that position in more that $5000 profit in just 2-3 days. My long setup is formed again in USDMXN Taking long positions here at CMP 16.67000 My SL would be 16.62000 Target I'm expecting is 17.00000 Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
Long
by akshit_official
How does gold price move today?Global gold prices have witnessed a significant price increase due to ongoing tensions in the Middle East, despite positive economic data from the US. The escalation of tensions, with Israel expressing its intention to respond to attacks from Iran, has ignored calls for restraint from the West. In this context, with the continued increase in geopolitical instability, gold prices are likely to continue to rise towards the $2,500 mark. The precious metal is currently moving towards the 1.618 Fibonacci price level, an important profit-taking point, in line with Dow Theory predictions.
OANDA:XAUUSDLong
by RKarina
EURUSD: Maintaining short-term price upward channelHello dear traders! EUR/USD has recovered momentum and now sees positive growth, surpassing 1.0650 today. This upturn was a result of the earlier reduction in flight to safety, pressuring the US dollar as the week ended, thereby boosting the pair. However, EUR/USD's upward momentum may only last in the short term because it has not yet surpassed the two EMA lines and the resistance level at 1.073. As long as trading remains below this level, EUR/USD will still face significant challenges ahead.
Long
by RKarina
Gold followed up with jumpsHi everybody! Let's look back at gold price developments last week and prepare plans for next week! Last week saw an explosion in gold prices, when it reached a record high of 2,431 USD/ounce before cooling down and stabilizing at around 2,400 USD/ounce. By the end of the week, prices had ended at $2,392 per ounce, up 0.55% on the day. The main factors driving gold prices to increase sharply include: the conflict situation in the Middle East continues to be tense; Fed Chairman Jerome Powell and other officials believe there is no need to further reduce interest rates; and in particular, China's strong buying has facilitated gold in conquering new peaks. In terms of technical analysis, gold is still supported by the factors mentioned above. This precious metal is currently trading above the two exponential moving averages EMA 34 and EMA 89, which continues to support investors buying. Gold is maintaining its current trend, trading above the Trendline and it is important to watch for any buying opportunities when the price re-touches the Trendline and check the stability of these two EMAs. Please continue to monitor and prepare a reasonable strategy to take advantage of opportunities in the gold market next week. Wishing everyone a happy and successful weekend!
OANDA:XAUUSDLong
by RKarina
Gold prices increased at the end of the weekToday, on the last trading day of the week, gold prices increased sharply to nearly 35 USD, reaching a high of 2,418 USD before stabilizing at 2,410 USD at the time of reporting. Gold's upside was sustained by a recovery from the 34-day moving average (EMA 34), with technical factors continuing to support the price. Many investors believe that gold is receiving strong support as a safe haven, because tensions are increasing in the Middle East. If the conflict continues to escalate, gold prices are likely to reach 2,500 USD in the near future.
OANDA:XAUUSDLong
by RKarina
How will the gold price behave today?Hello everyone, after a short price drop last night, gold has begun its journey to find a new peak. In today's trading session, gold is attempting to overcome the $2,400 resistance level, supported by renewed weakness in the US Dollar and persistently low US Treasury yields, which creates conditions for this unprofitable precious metal. Gold may continue to be popular as a safe haven whenever the market fluctuates, amid concerns about the current geopolitical situation. However, this could change if upcoming statements from US Federal Reserve (Fed) policymakers increase expectations for interest rate cuts at their September meeting. Besides, upcoming housing market data and weekly unemployment claims from the US will also provide further guidance to gold investors in the coming days.
OANDA:XAUUSD
by RKarina
6
EURUSD: Continues to grow downwardHello everyone, in today's trading session, EURUSD continued to decline following the trend observed in recent days, with the price fluctuating around 1.062 and has decreased by 0.15% so far. EURUSD's decline continues, in large part due to hawkish comments from US Federal Reserve officials, which has strengthened the Dollar and become a key barrier for with any EURUSD recovery. According to careful analysis, the support level at 1,060 may soon be penetrated due to strong selling pressure. With price currently moving below both the 34 and 89 EMAs, this is a favorable time for sellers.
Short
by RKarina
Gold price today: Fierce confrontation!Hello everyone, in the early hours of the weekend trading session on Friday, gold prices recorded a $35 increase, surpassing the $2400 resistance level. However, this upward momentum did not last and the price has since dropped, stabilizing at around $2,390 at press time. This fluctuation is the second time gold prices have increased sharply and then decreased, showing that sellers are still having great influence, preventing a sustainable increase in the price of this precious metal, even though the surrounding area is still price increase trend. The appearance of two candles with long wicks in the recent chart shows that selling pressure increased sharply when gold reached high prices. So, although gold prices are trending upward, more time may be needed to stabilize this trend before the next significant gain can be achieved. Key factors driving gold prices include strong buying demand from central banks, increased demand from emerging markets, a slowdown in supply and escalating geopolitical tensions. If these tense situations continue, gold prices could approach the $2,500/ounce mark.
OANDA:XAUUSDLong
by RKarina
GBP/USD remains limited below 1,250At the start of the Asian session on Friday, the GBP/USD pair held firm at a defensive level around 1.2430. The British pound weakened against a stronger U.S. dollar, influenced by strong U.S. economic data and hawkish statements from Federal Reserve officials, leading markets to speculate that the The US central bank may postpone interest rate cuts until September. On the chart, the price has broken through the sideways area, ending the previous period of consolidation, and is expected to continue falling in the trend described by Dow Theory.
Short
by RKarina