Forex
XAUUSD: Selling strategy!XAUUSD Strategy:
Hello dear friends! As of now, gold continues to follow a downtrend, limited below the trendline on the chart, with a current price of $2155 USD.
We may consider continuing to sell gold in the $2055 - $2058 USD range, placing a short-term profit for today at $2145 USD.
GOLD - Downward pressure on prices remainsThe price of gold today (20/3) slightly declined compared to the previous session following new economic data from the United States last night. Meanwhile, the US dollar continues to strengthen in the international payment basket.
At the same time, the Federal Reserve of the United States (Fed) convened its first meeting in March, which will last for two days. The market is on edge regarding the possibility of interest rate cuts by this organization. However, last week's inflation figures showed that despite high interest rates, inflation has not decreased as expected. This has led experts and investors to believe that the Fed is unlikely to cut interest rates in this session.
Furthermore, the significant increase in the number of new homes started in February is predicted to boost consumer demand for goods. This could contribute to an increase in the consumer price index in the future. With the difficulty for the Fed to cut interest rates, the USD may become even stronger, putting additional pressure on gold prices.
EUR/USD: Stronger discounts continue!Hello dear friends! What do you think about the current trend of EURUSD?
Today, EURUSD continues to decline, seemingly trying to gather strength to bounce back as the US dollar strengthens for the third consecutive day.
Currently trading near the 1.0849 level, a quick look at the technical analysis chart shows that the downward momentum is still leading. As a result, breaking below the support level of 1.0871 has solidified the case for implementing a selling strategy.
I am watching the 1.0800 level as the next stop, especially if the support level of 1.085 continues to crumble. What about you? What is your prediction for this currency pair?
GBPUSD: Drops below 1.2700 on notable US Dollar demandHello everyone, as we predicted, GBPUSD has continued to decline under the strength of USD's recovery. The current trading price is 1.268, firmly holding within the downtrend channel.
The next target is to push this pair up to the support level of 1.2625, after all the previous important defensive measures have been broken by sellers.
So what about you? Do you plan to continue selling this currency pair?
GBPUSD: Starting to correct?Hello dear friends!
Today, GBP/USD is gradually decreasing to the level of 1.2800 tons in the first day of the new week. The US Dollar has prevented its losing streak as the market shifts to risk aversion ahead of the highly anticipated US CPI report, which will be released on Tuesday. This has somewhat limited the upward trend for the GBP/USD pair.
As a result, the sellers are starting to suppress the price increases in the short to medium term. From the chart, we can see that a peak near 1.290 has formed and the price is starting to correct after a significant increase from the previous week.
The technical targets and prospects in this case are highly evaluated at around 1.275, which is approximately the 0.5 - 0.618 Fibonacci levels.
Update the latest EURUSD pair!EUR/USD has recovered after two consecutive days of losses, approaching the 1.0930 level in the Asian trading session on Tuesday. However, the pair faced resistance amidst cautious market sentiment ahead of the release of US Consumer Price Index (CPI) data.
Market expectations suggest that the US CPI will increase from the previous month in February, although the annual rate is forecasted to remain unchanged. A strong CPI report could dampen the prospects of an imminent interest rate cut by the Federal Reserve, potentially strengthening the US Dollar (USD) and posing a challenge for the EUR/USD pair.
NASDAQ100I would real like to see, us100 fall from here, my positions are placed and running with SL. Proper risk management comes 1st. Lets hope for the best, good luck. Lets Download Success.
Gold prices have recovered but are still difficultThe gold price (XAU/USD) saw a modest recovery from its lowest point in over a week at the start of this week, despite remaining in negative territory for the first half of the European trading session. Meanwhile, the US Dollar (USD) continues its struggle to achieve any significant momentum amid ongoing uncertainty about the Federal Reserve's (Fed) interest rate policy direction. This uncertainty, coupled with a slightly improved risk sentiment and geopolitical concerns, has been a key driver in pushing some towards precious metals as a safe haven.
However, the outlook for a rise in gold prices is still constrained by the increasingly common view that the Fed will maintain higher interest rates for a longer period to control inflation. This expectation supports the rise in US Treasury yields, potentially diminishing the appeal of gold, an asset that does not yield interest. Ahead of the highly anticipated FOMC meeting decision expected on Wednesday, traders might adopt a cautious stance, limiting their bets on positive developments.
The essence of maintaining high interest rates as part of efforts to curb inflation suggests that more time may be needed to manage inflation effectively. This situation, combined with the uncertainty surrounding global economic and geopolitical conditions, creates a complex scenario for gold investors as they weigh the safety of gold against the prospects of limited profitability in a high-interest rate environment.
XAUUSD surges to 2200 USD?Welcome to today's strategy analysis, where we revisit and forecast the next moves for XAUUSD, after a day of significant fluctuation.
Current Analysis:
XAUUSD witnessed a considerable decline yesterday, progressing through a descending triangle pattern and eventually breaking below the $2075 level. Despite this, gold quickly adjusted, forming an ascending triangle pattern and currently trades around $2168. This occurred after surpassing resistance levels at $2179 and $2177, although it ultimately saw a slight decrease of 0.27% for the day.
Insights on Price Increase Causes:
Scenario 1: The weakening of the US dollar, as the market anticipates the Federal Reserve (FED) might cut interest rates by June 2024 despite rising inflation in the US. This scenario benefits gold prices.
Scenario 2: Some analysts predict a spike in gold prices if the FED decides to cut rates. If this does not happen, high inflation fears could push gold prices higher.
Scenario 3: Political tensions and military conflicts, such as the Russia-Ukraine situation, keep the demand for safe-haven assets like gold high.
Forecast and Strategy:
Looking at the 1-hour chart, we observe an increase in trading volume and price stabilization after a sharp decline, touching the EMA 34.89 line. XAUUSD finds strong support around the $2160 level. If it breaks below this support, we could witness a significant price drop. However, maintaining above this level could lead to price increases. A recovery is anticipated after touching the ascending triangle pattern boundary. An adjustment might occur after breaking the fake level of $2175, and consolidation above this level indicates the market is ready for a recovery.
Conclusion:
In the current context, closely monitoring market developments and external influencing factors will be key to making wise investment decisions. Keep an eye on announcements from the FED, global political situations, and currency market movements to adjust your strategy accordingly.
Scenario 3: Escalating political tensions due to the Russia-Ukraine military conflict are maintaining the demand for safe-haven assets like gold. The conditions are favorable for gold to rally.
Regarding the new prospects for XAUUSD: According to the 1-hour chart, the volume is increasing, and the price has stopped after a sharp decline, touching the EMA 34,89. XAUUSD is currently receiving strong support around 2160 USD. However, if it breaks below this level, it could lead to a significant price decrease, while maintaining it would result in an increase. It is expected that the price will recover after touching the ascending triangle channel. I anticipate a correction after breaking the false 2175 USD level. Consolidation above this level indicates that the market is ready to rally.
EURUSD flirts with 1.0880-75 key support as Fed week beginsEURUSD remains pressured around 1.0890 early Monday, after posting the first weekly loss in four. In doing so, the Euro pair grinds near the 1.0880-75 support confluence comprising the 100-SMA and a five-week-old rising trend line amid the initial hours of the week comprising the key Federal Open Market Committee (FOMC) monetary policy meeting. It’s worth noting that an impending bull cross on the MACD and a below 30 level of RSI (14) suggest the pre-FOMC consolidation of the quote. However, the corrective bounce appears elusive unless buyers manage to cross a downward-sloping trend line from the monthly high, close to 1.0945 at the latest. Even so, the monthly top surrounding 1.0980 and the 1.1000 threshold will act as the final defense of the sellers.
Meanwhile, a downside break of the 1.0880-75 key support will allow the EURUSD bears to attack the 200-SMA level of 1.0830. Following that, the 1.0790-85 and the 1.0730 levels could test the sellers before directing the prices toward the yearly low marked in February near 1.0695. In a case where the Euro remains bearish past 1.0695, the May 2023 low of 1.0635 and March 2023 bottom surrounding 1.0515 will provide intermediate halts during a likely south-run targeting the previous yearly low of 1.0448.
Overall, the EURUSD pair stays on the bear’s radar even if the oscillators suggest consolidation ahead of the key FOMC.
Looking for shortNZDUSD is expecting to reach to the downside after having a reversal formation & has a clear movement to the downside.
Looking for LongGBPJPY is looking for buying opportunity after forming larger flag & expecting a movement to the upside. Target to expect at 195.000
Movement to the downside EURUSD is forming a movement to the downside after forming reversal. Currently formed correction on 4h timeframe.
ETHUSD at Critical LevelETHUSD Which is showing a great opportunity ETHUSD is at make it or break it Level. what is your view please comment it down. We are NISM Certified. All views shared on this channel are my personal opinion and is shared for educational purpose and should not be considered advise of any nature.
AUDUSD sellers attack 200-SMA to revisit 0.6525 key supportAUDUSD appears well-set for biggest weekly loss in seven while extending the previous week’s U-turn from a 3.5-month-old horizontal resistance area surrounding 0.6675-80. The Aussie pair currently pokes the 200-SMA support near 0.6565 amid an impending bear cross on the MACD and a retreat in the RSI (14) line, which in turn suggests slower grind toward the south. Hence, the quote is likely to break the adjacent SMA support of 0.6565 and aim for an upward-sloping support line from mid-February, close to 0.6525 at the latest. In a case where the bears keep the reins past 0.6525, the monthly bottom of 0.6477 and the yearly trough surrounding 0.6442 will be in the spotlight.
Meanwhile, AUDUSD rebound needs validation from late February swing high of 0.6595, as well as the 0.6600 round figure. Following that, multiple swing highs marked so far during 2024 near 0.6625-30 could test the buyers. It’s worth noting, however, that the Aussie pair’s further advances remain elusive unless the quote offer a daily closing beyond the aforementioned multi-month-old horizontal resistance zone near 0.6675-80. Should the bulls manage to keep the reins past 0.6680, the 0.6700 and 0.6750 might entertain them before highlighting the late 2023 swing high of 0.6871.
Overall, the AUDUSD pair is likely to decline further and can challenge the key support line as traders await a few more US consumer-centric data ahead of the next week’s FOMC monetary policy meeting.
USOIL is FightingUSOIL Which is showing a great opportunity USOIL is fighting with the resistance. what is your view please comment it down. We are NISM Certified. All views shared on this channel are my personal opinion and is shared for educational purpose and should not be considered advise of any nature.
USDJPY Strategy: Navigating Economic Data & Market Trends
Welcome to our daily strategy session, where we dive into the current dynamics of USDJPY and outline potential moves for today!
USDJPY is currently retreating, having found support amid a bullish sentiment around the 146.50-146.30 region. However, the plot thickens. Uncertainty surrounding the Bank of Japan's (BoJ) policy moves and a renewed appetite for the US dollar are injecting optimism into this currency pair. Yet, an upcoming slew of significant US economic data could introduce unpredictable price volatility.
Today, the market anticipates retail sales figures. A positive outcome would underscore strong consumer spending, potentially reinforcing the belief that the Federal Reserve (Fed) will maintain steady interest rates in the first half of the year. This could further bolster the USD against the JPY.
Looking at the daily chart, USDJPY appears to be encountering a price reaction around the 0.5 and 0.618 Fibonacci levels. I remain optimistic that USD/JPY will exhibit a similar response, especially as a detailed analysis reveals that the pair is facing resistance from a head and shoulders pattern, accompanied by a declining handle. Therefore, breaking through the psychological support level of 146.00 could pave the way for lower prices. It is anticipated that USDJPY will decline after reaching the 148.69-148.17 range and testing the 34.89 EMA line.
Should USDJPY draw strength from this support level, we might witness a bullish rebound. However, price consolidation below this mark would indicate that the market is gearing up for a deeper decline.
XAUUSD Hello dear friends! What are your thoughts on the price of gold? Let's explore and discuss new strategies for gold together with RKarina.
Overall, it has been a week of significant price increases for gold. The price has been rapidly developing and consistently creating surprises for traders. This comes after the latest employment report showed an increase in unemployment rates in the US and moderate wage growth, despite the accelerated job growth in February.
The underlying factors driving the upward momentum of gold prices are the expectations that the Fed will continue to cut interest rates later this year and the weakening of the US dollar. Gold even touched a formidable level of $2200 USD at one point last night, but quickly pulled back and is currently hovering around $2179 USD.
In general, the price of gold is expected to continue its upward trend. However, after the recent strong surge, the precious metal may need some consolidation in the short term.
Gold price today: Needs adjustment!Updated Gold Market Report:
During the Asian trading session, gold (XAU/USD) has attracted strong buying interest, partly recovering from the previous sell-off, with the price currently at $2,150. The surge in US Treasury yields, driven by higher-than-expected US consumer inflation in February, has increased the value of the US dollar and put downward pressure on gold prices. The recovery in the US stock market has also led to a shift of funds away from gold, a safe haven asset.
Personal perspective:
The decline in gold following yesterday's CPI report is a positive development. The price correction not only creates an opportunity to buy at a better price but also enhances liquidity and accumulation prospects for the market.
Gold price adjusted strongly!Hello dear friends, let's find out about the price of gold today!
As predicted since yesterday, gold has experienced strong downward pressure after the release of the Consumer Price Index (CPI) of the United States. According to the CPI report, it increased by 3.2% compared to the same period last year in February, slightly higher than the predicted 3.1% by market participants. The core index, which excludes volatile food and energy prices, came in at 3.8%, higher than the expected 3.7%, although lower than the 3.9% announced in January.
These data have helped the USD recover and suppress the upward momentum of this precious metal. Currently, gold is trading around $2159 and is still undergoing a corrective phase after reaching record highs.
In the short and medium term, gold is forming a cup and handle pattern and will soon face downward pressure after aiming for the resistance level of $2165. We can consider selling if gold reaches that level, with a profit target at the support level of $2145 - $2143.
EURUSD: Stuck in the falling price channel!Hello dear friends, today the stable recovery of the US Dollar (USD) has exerted new downward pressure on EUR/USD, extending its decline for the third consecutive session and revisiting the support level near 1.0900.
The upward momentum is limited below the resistance level of 1.0935, as the current trend remains clearly bearish, indicated by the parallel channel on the chart. It is expected that this currency pair will continue to decrease further if it reaches the upper limit of the price channel as marked in the analysis. To find an opportunity for price increase, EUR/USD needs to break the current price channel. On the other hand, if unsuccessful, the next downward target for this currency pair will be at 1.090.
GBPUSD :Pay attention to US CPI data!Greetings dear friends, today the currency pair is trading around the level of 1.278 and has started a slight correction after facing selling pressure since yesterday.
The cautious sentiment in the market ahead of important events in both the UK and the US may provide some support for safe-haven assets like the US Dollar (USD). The US Consumer Price Index (CPI) for February is estimated to maintain stability at 3.1% compared to the same period last year, and the core CPI is expected to decrease from 3.9% to 3.7% in February.
A stronger-than-expected CPI report could further diminish hopes of a Fed interest rate cut in the near future. Conversely, this could boost the US Dollar and create resistance for the GBP/USD currency pair.
