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Gold and its upcoming direction!The relentless surge of gold to a new record high in the opening session of April is being driven by predictions of US interest rate cuts and its appeal as a safe haven asset, currently holding steady at around $2,255. The real driving force behind gold's upward trajectory is the growing belief among investors that the US Federal Reserve will loosen monetary policies. Market watchers are eagerly anticipating an early rate cut by the Fed, possibly in May or June. The recent increase in this precious metal is also fueled by strong buying pressure from central banks worldwide, as they diversify their reserves amid geopolitical risks, domestic inflation, and a weakening US dollar. The consensus is clear: gold thrives in favorable conditions and is poised to continue breaking new records in the near future.
OANDA:XAUUSD
by RKarina
9
Latest gold update: Continue to conquer new recordsDear friend, Today, gold ended the trading session with a significant price increase. The precious metal reached a high of around $2330 after touching $2270, gaining $60 in just one day. You may be wondering why gold is rising so strongly. In terms of international market information: Despite better-than-expected US employment data, the global gold price continues to skyrocket, setting new records in weekend trading sessions and marking the third consecutive week of gains. Recently, considering the strength of the economy and inflation data, Federal Reserve Chairman Jerome Powell reiterated the view that the US central bank has time to consider when to cut interest rates for the first time. According to CME FedWatch, traders are currently pricing in a 59% chance of a rate cut in June. Conclusion: Currently, I am very optimistic about the possibility of gold prices reaching $2400 per ounce. In the context of central banks continuing to buy gold to diversify foreign exchange reserves, higher US bond yields or a stronger US dollar will not be obstacles for gold. With the current trend, it is possible for prices to continue rising next week. There is evidence that once it reaches the level
OANDA:XAUUSDLong
by RKarina
Strong upward trend continues for XAUUSD!Hello everyone, today the price of precious metals has reached a new record high due to the buying activity of central banks in Asia. A new published report reveals that the People's Bank of China has added 160,000 ounces of gold to its reserves in March. Turkey, India, Kazakhstan, and some Eastern European countries have also been purchasing gold this year, leading to a continued rise in prices. Despite expectations of changing interest rates, the recent increase in demand for gold will continue until the end of this year due to hidden supply pressures caused by concerns about economic downturn and ongoing conflicts. The new recovery of gold has only just begun, and it won't be long before Western retail investors jump into the market and drive this precious metal to reach new record levels.
OANDA:XAUUSD
by RKarina
GBPUSD: buyHello everyone! Just as we predicted, GBPUSD has increased after successfully testing the support level at 1.257. Currently, it is trading around the 1.265 level, with strong upward momentum and aiming to immediately conquer the resistance level at 1.266. The US dollar has slightly depreciated as moderate risk appetite has prolonged the recovery process of this currency pair from its lows after the NFP. Positive market sentiment is putting pressure on the US dollar and supporting GBPUSD. However, it is important to monitor this currency pair, especially with the upcoming release of the US Consumer Price Index on Wednesday, as this index could provide new impetus for the movement of this currency pair.
Long
by RKarina
EURUSD: Buying strategy is still supportedThe EUR/USD pair experienced a modest increase, reaching around 1.0860 in the early Asian trading session on Tuesday. The decline in the US Dollar (USD) has provided some support for this currency pair, with growing optimism fueled by various technical indicators. The upward momentum is being observed and strengthened as a new level of support forms, aligning with the EMA 34 and 89. As long as buyers maintain this support level, the scenario of price increase remains entirely reasonable.
Long
by RKarina
EURUSD: The movement trend is not clear!EUR/USD appears to have made a breakthrough above 1.0800 at the beginning of Monday, breaking free from a three-week downtrend. However, the short-term technical outlook paints a picture of indecisiveness in this currency pair. On one hand, strong NFP data from the US continues to bolster the US Dollar, while optimistic industrial production figures from Germany and investor confidence from EU Sentix have not had a significant impact on the Euro. If this pair surpasses the level of 1.0870, it could establish a strong foundation for a bullish recovery in EUR/USD. Conversely, the EMA 34 and 89 indicators currently lean towards a slight downtrend, indicating a lack of momentum for any significant price movements in either direction. Therefore, the support level at 1.0800 is still being monitored for potential retesting.
by RKarina
Where will gold prices go this week?Hello everyone, following last week's upward trend, gold has once again started the second trading session with strong price increases. In the early trading hours, gold briefly reached $2354 but quickly retreated and is currently at $2337, marking a 0.31% increase for the day. In light of escalating tensions, gold's traditional headwinds have failed to impede its upward momentum in the past week. The precious metal has shown steady growth, ending the week with a 5% increase. Looking at gold's recent fluctuations, it is no longer heavily reliant on the direction of the US dollar. Gold is now establishing itself as a global currency and overshadowing traditional pressures, pushing it to new record levels.
OANDA:XAUUSDLong
by RKarina
EURUSD bullish outlook?Hello everyone! After a long period of decline, EURUSD ended the week with gains and is currently trading at 1.0836. It can be observed across most time frames that the EU has achieved significant milestones, indicating a very positive price outlook. With EU continuing to trade steadily at these high levels, there is a possibility that the price level of 1.082 will be retested in the near future, forming a trend line and using it as a strong support for further price increase. The expected price levels are currently 1.087 and then 1.093
Long
by RKarina
GBP/USD Analysis: Heading for a CorrectionCurrent Context GBP/USD ended its four-day winning streak, posting a decline following a correction on Thursday. Currently, the pair is steady on the downside, trading at around 1,262. Of note is the formation of a short-term top on the one-hour chart, representing a downtrend according to the Elliott Wave Principle. Technical Analysis Monitoring technical and selling trends is considered the priority option in the short term. Both technical indicators and wave analysis signal that investors should be bearish. The defensive target and stop loss are set at 1,257, marking a key support level that, if broken, could lead to an increase in selling pressure. Short-Term Trends and Impact In the short term, GBP/USD appears to be correcting after a bullish period. This decline can be considered a necessary technical correction before determining the next trend. If the 1.257 level holds, GBP/USD could find stability and start a new rally. However, if this support is broken, further declines are likely. Conclude Overall, GBP/USD is in a short-term correction phase with a selling bias favored. Investors need to closely monitor the 1,257 support level to assess the potential for further downside. Any news that affects USD or GBP needs to be closely observed to capture suitable trading opportunities, especially in a volatile market context.
Short
by RKarina
EURUSD: The downtrend line has not been broken yetRecent Summary: EUR/USD showed resilience on Thursday but soon encountered strong resistance at the descending trendline, leading to a fresh downward correction. The important support level at 1,076 is currently a solid fulcrum for this currency's recovery hopes. Market Assessment: The support level at 1,076 is showing significant resistance, laying the groundwork for EUR/USD's potential upside, as long as this level is not broken. The important event at the end of the day, related to USD, may be a turning point, affecting the current dynamics of this currency pair. Recovery Potential: If the end-of-day news tilts in USD's favor, EUR/USD may have to look for upside opportunities from alternative factors. However, if USD fails to receive support from the news, EUR/USD has a solid chance to recover and even rally from current support levels. Conclude: With an important event coming up and strong support at 1,076, EUR/USD is in a state of balance between recovery and downside risks.
Short
by RKarina
XAUUSDThe departure from the upward trend channel has led this product into a significant price decline. It is currently trading below the resistance levels of 2285 and 2290. A strong downward trend was established after taking profits at the $2305 mark, with stable trading activity observed on the 1-hour chart. Given these observations, it wouldn't be surprising to anticipate further price drops after testing the aforementioned resistance levels (as illustrated on the 2-hour chart), with an expected decrease to $2.248. If you find this post insightful and valuable, don't forget to leave a like and share your thoughts. It would make me extremely happy.
OANDA:XAUUSDShort
by RKarina
XAUUSD: Setting new highs!Today's gold price gently adjusted, from $2,300 to $2,272, reflecting volatility but not eclipsing the long-term growth trend. In the face of inflationary pressure and positive economic data, the Fed may continue its strict monetary policy. However, policy flexibility is still the driving force behind gold prices, along with pressure from the national debt, creating a solid foundation for price increases. Gold, therefore, is still an attractive investment channel, resistant to inflation and instability. From a technical perspective: price is still well supported by EMA 34.89. It is expected that the price will recover after the correction and retest the EMA 34.89.
OANDA:XAUUSDLong
by RKarina
EURUSD: Suddenly back!In the context of the first rays of dawn in Asia, EUR/USD suddenly exploded, reaching the symbolic level of 1.0850. This recovery was fueled by tension from the USD index, after the shock from the US ISM Services PMI did not meet expectations in March. Then, profit-taking comments from the Fed Chairman Powell added even more "water to the cup", sparking a big move on the trading floor. The weakening of the US Dollar is not only a golden basis for those holding the Euro but also opens a new page for this currency pair. Is this evidence of a new era of the Euro value system or just a fleeting passing color? What will happen next on the electronic boards of global financial markets, as the big picture gradually emerges?
by RKarina
GOLD - ready NEW MAXIMUM?!We had a volatile day yesterday, with gold prices skyrocketing from 2275 to a new peak of 2305. Today continues to be an important day with news that could trigger a price correction. While gold is not typically a top choice for technical analysis, it is currently approaching the top of the price channel. However, we also know that gold is always a sought-after asset for investment and storage, continuing to drive prices up. So I set my next target for gold at the new price level - 2320. Please share your thoughts or opinions, I always look forward to hearing from you.
OANDA:XAUUSDLong
by RKarina
Gold continues to increase strongly!Hello, my notable friends! Today, the price of gold has seen an impressive increase, with spot gold rising by $29.9 to $2,281 per ounce. This significant surge on April 2nd, according to US time, has been driven by the relentless demand for a safe haven amidst escalating tensions in the Middle East. The gold market continues to defy the strength of the US dollar and predictions of interest rate cuts in the US, consistently setting new records. Furthermore, strong demand from retail investors and global central banks also play a crucial role in extending the upward momentum of this precious metal. Considering these factors, a target of $2,300 for gold seems not only feasible but highly likely!
OANDA:XAUUSDLong
by RKarina
4
Gold continues to discover new peaks!Today, gold continued to impress, surpassing the $2,300 mark, a significant achievement even as the US dollar and bond yields both increased pressure. The shortage of gold supply, thanks to central banks around the world actively stockpiling and strong interest from hedge funds, has pushed gold prices to new highs. From a technical perspective, gold continues to show outstanding strength, stabilizing above the EMA 34 and 89 and showing an upward trend in price over many time frames. Based on this solid support and technical analysis, gold is forecast to continue rising, with the next target being the Fibonacci level of 2460 USD. For those investing in gold, this promising adventure is just beginning.
OANDA:XAUUSDLong
by RKarina
GBPUSD: Preparing for a new trend?Hello dear friends! Overall, Wednesday saw a stunning comeback for the British Pound, as it quickly regained strength from its seven-week low at 1.2539. A combination of comments from senior officials at the Federal Reserve and data on the US services sector that missed expectations created a strong headwind for the US Dollar, pushing it went lower for two consecutive days. This is a turning point for GBPUSD, when this currency takes advantage of the opportunity to bounce high, painting a colorful recovery scenario on the financial rankings.
Long
by RKarina
EURUSD: Recovering but outlook still bearish!Hello EURUSD traders! Today, we are witnessing a modest recovery of EURUSD to the level of 1.0777, but it still exhibits characteristics of a downward trend. Chart analysis indicates that the decline continues as it breaks out of the upward trend line. Furthermore, the convergence of EMA 34 and 89 appears to favor sellers. According to the Dow Theory, this currency pair is undergoing a corrective wave in its trend and is testing for a breakout, suggesting that any price increase may not be sustained. The target for the downside and the current selling zone is aimed at the first Fibonacci retracement level of 1.618.
Short
by RKarina
XAUUSDOh my goodness, everyone! You won't believe how gold has been shining like a diamond lately! On Wednesday, for the seventh consecutive day, gold (XAU/USD) reached an all-time high of around $2,282. Isn't that incredible? With all the drama unfolding - from the heartbreaking conflict between Russia and Ukraine to the simmering tensions in the Middle East, not to mention the devastating earthquake in Taiwan - it's no surprise that gold has become a safe haven for anyone seeking refuge. Just like when the stock market feels like a roller coaster ride, gold becomes our calm in the storm. And guess what? The US dollar (USD) decided to take a little nap, which only added to the allure of gold. It seems like the speculators betting against the Fed's interest rate cuts are throwing all the drama aside, making gold even more enticing. With this fascinating backdrop, it's quite clear that the path of least resistance for gold is upwards. So, will the price decrease slightly? I say this is a fantastic buying opportunity for XAUUSD. Let's admire those golden moments together!
OANDA:XAUUSDLong
by RKarina