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Update the latest gold price today!Gold prices continued to rise today due to increased demand for safe-haven assets amid escalating tensions between Iran and Israel. This has prompted investors to flock to the gold and USD markets to protect their assets. Precious metals are on the rise even as US economic indicators and the USD index increase, raising concerns that the US Federal Reserve may postpone interest rate cuts this year. Currently, gold is trading around $2380 and maintaining a stable upward trend across most time frames. The combination of geopolitical risks and the prospect of a more accommodative monetary policy by the Federal Reserve in the second half of this year will continue to increase the attractiveness of gold as a safe-haven asset. Despite being near record highs, gold will not be sold off due to the strategic and non-price-sensitive nature of central bank gold acquisitions, which reassures investors about its upward trajectory.
OANDA:XAUUSD
by RKarina
GBP/USD remains limited below 1,250Hello dear friends! During the first Asian trading session on Thursday, the GBP/USD pair traded light at 1.2450. The weakening of inflation in the UK has stimulated speculation that the Bank of England (BoE) may cut interest rates in the near term, putting downward pressure on the British Pound (GBP) against the Dollar. US Dollar (USD). Investors are eyeing key upcoming economic reports, including U.S. initial jobless claims, the Philadelphia Fed Manufacturing Index, the Conference Board Leading Index and other data. data on existing home sales, to further assess the trend of GBP/USD. Regarding technical analysis, sellers are dominant. Although GBP/USD has recovered slightly, it remains in a bearish bias and is moving below the 34 and 89 EMAs. A retest of the EMAs and a move towards resistance could re-invigorate the pair. trying to sell prospects.
Short
by RKarina
Gold price today: Still increasing regardless!Today, the price of gold continues to remain high and has a tendency to increase to nearly 2385 USD, with moments approaching the threshold of 2,400 USD/ounce. Escalating tensions in the Middle East serve as a supportive factor for gold. Recent capital flows have consistently sought out gold as a safe haven. Gold could easily surpass the 2,400 USD/ounce mark for the second time if conflicts intensify in this region. Furthermore, it has already risen due to central bank purchasing activities and expectations of increasing inflation.
OANDA:XAUUSDLong
by RKarina
USDJPY: Target at 155,500USD/JPY is experiencing a slight decline, trading around 154.65 in the early hours of Wednesday's Asian trading session. The strong US economy and inflationary challenges have sparked speculation that the Federal Reserve may postpone the start of its tapering cycle to September instead of June, providing support for the US dollar. From a technical perspective, the recent breakthrough of the key resistance level near 152.00 and the subsequent upward trend is seen as a new opportunity for trend-following traders. Following that are overnight fluctuations around the 153.00 level. Any significant decline below 154.00 could attract new buyers, potentially targeting the next area around 155.50.
Long
by RKarina
The Bull side is stronger?Hello everyone, are you curious about the current trend of EURUSD? Today, EUR/USD has risen to nearly 1.0650, recovering from its five-month low of 1.0622 reached last Friday. The US dollar has strengthened due to increased buying pressure in the midst of political instability, which has put downward pressure on this currency pair. The support level of 1.070 has been breached and no longer holds for this currency pair. The downtrend seems favorable as the price continues to move within a downward channel with no signs threatening this trend. After a short period of adjustment, EURUSD is expected to retest a lower level around 1.053, following the current trend. What do you think? Will EURUSD continue to decline?
Short
by RKarina
1
EUR/USD extends decline below 1.0630EUR/USD continues to decline, nearing the 1.0620 level and moving away from the year's low of 1.0600 recorded at the beginning of Wednesday's Asian trading session. However, hawkish comments from Federal Reserve officials and the flow towards safe-haven assets could strengthen the US dollar and limit any short-term benefits for this currency pair. Nevertheless, attention should still be paid to the Fibonacci retracement levels of 0.5 - 0.618, as EUR/USD may correct towards this zone after the recent sharp decline and show signs of price consolidation.
Long
by RKarina
Gold prices continue to trade high!Dear investors, We are currently at an important turning point, faced with the choice between reinvesting in gold - an investment that has eternal appeal, or going in another direction, exploring new opportunities. Yesterday, gold experienced strong fluctuations, when the price fell below 2,325 USD/ounce. However, as if it were participating in a detective movie, gold quickly recovered and reached a new high of 2,383 USD/ounce, moving closer to the historical record. Confidence in gold has not diminished, as the need to find a safe haven is increasing due to political instability in the Middle East. Gold's price boom this week was also fueled by the strength of the dollar and US Treasury bond yields, after economic reports showed retail sales in the US in March outperformed expected, raising concerns that the Federal Reserve (Fed) may be hesitant to change its monetary policy. The combination of geopolitical uncertainty and the prospect of a more accommodative monetary policy from the Fed in the second half of this year has added to gold's appeal as a safe-haven investment, making it the more attractive in the eyes of financial investors. Let's consider our investment strategy to make the most of current opportunities in this volatile market context.
OANDA:XAUUSDLong
by RKarina
Update the latest gold price today!Gold prices moved in a narrow range on Tuesday, holding steady near a record high. The ongoing crisis in the Middle East continues to influence investor sentiment, increasing interest in the precious metal. Even though the US dollar is strengthening, gold is still showing resilience as US Treasury yields fall from multi-month highs. Reducing geopolitical tensions between Israel and Iran has also failed to reduce demand for gold, as people predict prices will continue to rise. If this buying trend sustains, immediate resistance could reach $2,400 and potentially retest the all-time high of $2,432. However, if gold fails to sustain above the $2,363 support level, the next support level for the buyers could be at $2,340.
OANDA:XAUUSDLong
by RKarina
GBPUSD: Uptrend continues to be threatenedHello everyone! This week, GBP/USD has witnessed a slight recovery, climbing above the 1.2450 level after dropping to its lowest point in November at 1.2426 last week. The technical outlook still signals a downward trend, but easing geopolitical tensions may prolong the currency pair's recovery time. Investors sought safe haven assets last week following reports that Iran may retaliate for what is believed to be an Israeli attack on their consulate in Damascus on April 1st. This has boosted the US dollar as a preferred safe asset, thereby putting pressure on GBP/USD at the end of the US trading session. US stock index futures were last seen rising between 0.4% and 0.6% for the day. If Wall Street's key indices open positively and continue to rise, the US dollar may struggle to maintain its strength, potentially allowing GBP/USD to climb higher.
Short
by RKarina
2
GBPUSD: Upward price momentum has not appeared yet!The GBP/USD pair is seeing a continuation of its strong downtrend, with the lowest since November 17 recorded during Tuesday's Asian session. Currently, GBP/USD is re-approaching the bottom of the monthly descending channel at 1.2440, and a test of this level is underway. Last Friday's low of 1.2430 is also in the market's sights. A clear break through this support could open the door towards 1.2370, and if the decline continues, there is no other obvious support until 1.2220. For the pair to recover, a break above 1.2505 is needed as a first step, where a large uncovered order volume is likely to be the driving factor for a further pullback to come. level 1.2565. These developments will be important in determining the near-term trading strategy for GBP/USD, especially given the current climate in the global foreign exchange market.
Short
by RKarina
EURUSD: Bearishness continues to prevail!EUR/USD has been falling for the past six sessions, trading around 1.0600 during the Asian session on Tuesday. The US dollar, supported by rising US Treasury yields, is asserting its strength, putting pressure on the pair. When looking at the current situation, unstable economic factors in the euro area, along with the potential recovery of the US economy, are raising expectations for a strengthening of the dollar in the near future. next. This becomes even clearer when it is predicted that the European Central Bank (ECB) may reduce interest rates before the US Federal Reserve (Fed) takes similar measures. In this context, the forecast shows that EUR/USD will likely continue to decline further in both the short and medium term.
Short
by RKarina
What will the new week's gold price look like?Let's all join in and devise a strategy to earn gold this week! Last Friday, gold experienced a significant decline, plummeting nearly 1000 pips from $2431 to $2333. However, as we begin this week, gold has quickly regained its upward momentum, similar to recent trends. Currently, the price is hovering around $2360, after a 0.64% recovery today, equivalent to approximately $15. Despite the recent market fluctuations, the upward trend of gold remains strong, serving as an excellent hedge against political tensions and financial market instability. The factors that propelled gold to record highs last Friday are still in play. China continues to lead in gold accumulation, marking the 17th consecutive month of increased gold reserves, which further reinforces optimistic sentiment. Let's keep an eye on these driving forces as they unfold!
OANDA:XAUUSDShort
by RKarina
USDJPY: Continuing to set new records!The USD/JPY has surged to its highest level in decades, reaching 154.00 during European trading on Monday. The Japanese Yen continues to weaken amid uncertainty about future interest rate hikes by the Bank of Japan (BoJ). However, concerns about potential interventions and geopolitical tensions could impact the Yen, a traditional safe haven asset. On the technical chart, the price shows strong upward momentum after a period of consolidation, moving steadily along the EMA 34 and 89 lines. The prospect of further price increases remains a top priority for this currency pair. The recent highs around the 153.25-153.30 area now serve as a strong support level, laying the groundwork for USD/JPY to potentially retest the 154.00 mark and potentially climb even higher.
Long
by RKarina
Gold price today: Recovery after the storm!Last week, the price of gold fluctuated between $2,300 and $2,360 per ounce until Wednesday. By Thursday, amidst escalating tensions in the Middle East, the upward trend became evident as gold reached a new peak above $2,400 per ounce. The momentum continued into Friday, reaching $2,431.59 per ounce before declining to around $2,355 to end the week. The geopolitical risks seem poised to push the price of gold even higher. The outlook for this week is optimistic: a survey on Wall Street showed that 83% of analysts expect the price of gold to increase, with only 17% predicting a decrease. There is no neutrality in these expectations. An online poll conducted by Main Street reflects this sentiment, with 82% of investors predicting an increase or stable trading for gold. Meanwhile, 66% of surveyed retail traders expect gold to rise. Personally, I believe that gold will continue its upward trajectory, although it may experience some short-term price adjustments along the way!
OANDA:XAUUSDShort
by RKarina
Monthly bullish megaphone keeps Gold buyers hopefulGold price resumes its upward trajectory within a fortnight-old bullish megaphone chart pattern after a volatile day that initially refreshed an all-time high before posting the biggest daily loss in two months. That said, the XAUUSD’s corrective bounce also takes clues from a rebound in the RSI (14) line. However, bullish MACD signals and cautious mood ahead of the US Retail Sales tests the bullion’s recovery moves. It should be noted that 100% Fibonacci Extension (FE) of the quote’s February-March moves, near the $2,400 threshold, currently lures the buyers. However, the aforementioned megaphone’s top line, close to $2,441 at the latest, will challenge the precious metal’s upside afterward. Following that, the commodity’s run-up toward the $2,500 round figure can’t be ruled out. Meanwhile, the Gold price sellers need a clear downside break of the stated wedge’s bottom line, around $2,336 by the press time. Following that, the 61.8% and 50% FE level will entertain the XAUUSD bears around $2,305 and $2,277 respectively. However, a convergence of the 100-SMA and an upward-sloping support line from February 28, near $2,265, appears a tough nut to crack for the precious metal sellers. In a case where the quote remains weak past $2,265, the odds of witnessing a quick fall toward March’s peaks of around $2,222 and $2,195 appear brighter. Overall, the Gold price lacks upside momentum but the sellers stay off the table beyond $2,265.
OANDA:XAUUSD
by MTradingGlobal
Gold continues to increase in price dramatically!Hi everybody! Gold just experienced a volatile day yesterday, falling sharply to $2,330 before quickly recovering to $2,392, recording a spectacular increase of $62 in a short time. This strong recovery further reinforces the sustainable appeal of gold in the current context. In a situation where inflation in the US is rising, the Federal Reserve's (Fed) ability to delay monetary policy changes has increased the strength of gold. Gold appears to be not only sustainable but also strong, despite uncertainties from US economic data. Despite the US dollar rising against other currencies and US bond yields staying high, gold still shows resilience. I am still very optimistic about gold's prospects, considering it a safe haven, especially in the context of geopolitical tensions in the Middle East continuing to heat up.
OANDA:XAUUSDLong
by RKarina
6