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Gold prioritizes short sellingSamson greets everyone! Gold prices today are still being negatively impacted in the market as the US Dollar Index, which measures the fluctuation of the greenback against six major currencies, is at 105.685 points (a decrease of 0.09%). The "hawkish" signals from Federal Reserve Chairman Powell on Friday have weighed down gold, as this precious metal is currently lacking supportive factors. The downward trend continues to serve as an opportunity for short-selling traders. There may be a slight recovery, but it will only play a role as a corrective trend because selling gold remains the top priority strategy in the current situation.
OANDA:XAUUSDShort
by Samson-FX
Gold left 2000 USD again. What happens next?Today, the price of gold continues to move away from the $2,000 range, which it has been trading around since the beginning of the week. Currently, the precious metal is trading around $1,951. Here are some important pieces of information: Factors contributing to the decline in gold prices: - The current operating interest rate in the US is at its highest level in 22 years, at 5.25% - 5.5%. - Another reason for the decrease in gold prices is the sharp drop in oil, which is closely related to gold. The price of WTI crude oil has fallen to $77 per barrel. Despite the increase in the value of the US dollar, precious metals still attract the attention of major investors. Technical analysis: As predicted by Samson yesterday, gold has dropped below the key support level of $1,950 and has shown slight signs of recovery from this level at the start of today's trading session. However, the overall trend is still unclear. Gold needs to maintain its current support level in order to potentially return to $1,975. On the other hand, breaking the current support level could lead to a further decline towards the next support level at $1,933.
OANDA:XAUUSD
by Samson-FX
Gold price consolidated near the lowest level in three weeksSamson, hello everyone! Currently, Gold (XAU/USD) continues its efforts to achieve any meaningful recovery in European trading session, currently trading at $1949. Some officials from the Federal Reserve this week have given mixed signals about the future path of interest rate hikes, which has led to money flowing out of the yellow metal, resulting in no profit since the beginning of this week. Furthermore, investors now seem less concerned about further escalation in the Israel-Hamas conflict. This is considered another factor contributing to the erosion of demand for safe-haven precious metals. Expectations of continued decrease in US Treasury bond yields have weakened the US Dollar (USD). Additionally, market caution, along with China's economic difficulties, is believed to have somewhat supported precious metals and limited their downside. Traders are now awaiting the release of the US Weekly Initial Jobless Claims data for further motivation ahead of Fed Chairman Jerome Powell's speech.
OANDA:XAUUSD
by Samson-FX
GBPUSD ends the price increaseThe GBP/USD pair has entered a phase of decline and is oscillating within a narrow range around the 1.2220-1.2225 area. The US Dollar (USD) managed to maintain its upward momentum overnight, inspired by comments from Federal Reserve Chairman Jerome Powell, which turned out to be the main factor acting as resistance to the GBP/USD pair. On the other hand, the British Pound (GBP) is weighed down by bleak economic prospects in the UK and increasing expectations that the Bank of England (BoE) will soon begin cutting interest rates, serving as a psychological arrow for investors to sell off the GBPUSD pair. On the chart, this currency pair has surpassed the support area at 1.225, and a downward correction could bring the pair back to lower levels along the expected trendline at around 1.214 after a short-term price increase adjustment.
Short
by Samson-FX
EURUSD weekend, long -term analysisHello everyone! EUR/USD is facing downward pressure and has dropped below 1.0700 during Thursday's trading session in the US. The currency pair remained relatively quiet at the start of Friday, while technical prospects indicate a slight downward trend. From the 4-hour chart, we can observe that EUR/USD has extended its upward trend, but a completed 5-wave Elliott pattern suggests a potential price decline followed by an expected price rebound.
by Samson-FX
BTCUSDT increases, a profit tap will take placeSamson greets everyone! Creating an Elliott Wave model has significantly boosted the price of the product. At the time of writing, the cryptocurrency market is trading below the resistance level of $37,960. The upward trend is strong as it is consolidated at a high level with stable trading activity on the 2-hour time frame. Therefore, it would not be surprising if this price increase reaches $40,000. What are your thoughts on this matter? Do you agree with me?
Long
by Samson-FX
EURUSD: Is there still motivation to increase prices?The EUR/USD pair is extending its sideways consolidation trend in Tuesday's trading session and is trading below the 1.070 level. However, the price is still attempting to hold above the 1.0700 level and is dependent on the price dynamics of the US Dollar (USD). The US Dollar Index (DXY), which tracks the greenback against a basket of currencies, has rebounded from nearly an 8-week low overnight and turned out to be a key resistance factor for the EUR/USD pair. Officials from the Federal Reserve have provided mixed signals about the future interest rate hike path, leading to an increase in US Treasury bond yields on Monday and prompting some short-term positioning in USD. On the 4-hour chart analysis: EUR/USD has just surpassed the resistance at 1.068 and, according to price action principles, is currently in the process of retesting the previous breakout zone and testing the EMA line. If favorable, EUR/USD may continue to find support at this level and further develop. On the other hand, breaking below the current support level could push EUR/USD back to a lower figure estimated at 1.060.
by Samson-FX
GBP/USD : The pound continues to slipDear friends, Currently, the British Pound (GBP) is stuck in a narrow range as investors seem reluctant to establish new positions before the release of the UK's third-quarter Gross Domestic Product (GDP) data, which is scheduled for Friday at 07:00 GMT. The GBP/USD pair is still struggling as the Q3 GDP report will shape the monetary policy outlook for the Bank of England (BoE) in December. From the 4-hour chart, we can see that the price has broken out of the upward channel, resulting in a significant price increase. At the time of writing, the price is trading around 1.2272, after retreating from 1.2430. Therefore, it is likely that GBP/USD will continue to move lower in the short term during this weekend session.
Short
by Samson-FX
What is the last gold price of the week's trading session?Dear friends, Gold has put an end to its three-day downward trend. The escalating political tensions in the Middle East have increased the demand for safe haven assets like gold, despite the higher interest rates on US Treasury bonds. The XAU/USD price is currently trading around $1,958, showing a 0.03% increase for the day. According to previous analysis, the current price of the precious metal is hovering around $1,960 and receiving support from the key level of $1,950. This next recovery phase, also known as the corrective wave in Dow Theory. Support levels: $1,945.20, $1,933.20, $1,923.10 Resistance levels: $1,965.30, $1,978.30, $1,989.00
OANDA:XAUUSD
by Samson-FX
BTCUSDT increased sharply ??BTC has gradually been trading upwards since a significant move in late October. As seen on this chart, the parallel price channel A is still functioning well, breaking out of the port and maintaining a strong upward trend above $32,000 and stabilizing around $35,000 on the weekly timeframe. In the long run, BTC is expected to experience strong growth, especially in the context of unstable economy, making it a viable alternative solution for investors. The expectation for a rise to $51,100 is high. As long as it holds steady above the mentioned support levels, this expectation is entirely plausible.
Long
by Samson-FX
1
Gold price tries to keep on the lowest level in two weeksHello everyone, Gold (XAU/USD) continues to decline for the third consecutive day on Wednesday, currently trading at $1966 and losing 0.12% for the day. However, the precious metal is trying to hold above the two-week low around the $1957-$1956 area touched on Tuesday as traders await clearer guidance on the Federal Reserve's interest rate path before making new bets. Amid the risk of significant events, the US Dollar (USD) is trying to maintain a recovery from its lowest level since September 20 reached on Monday, which is believed to be putting some pressure on the price of Gold. This indicates that the overall trend in the stock market is more subdued, along with increasing concerns about worsening economic conditions in China, which may act as a favorable driving force and limit losses for XAU/USD as a safe haven.
OANDA:XAUUSD
by Samson-FX
GBPUSD: Reduce below 1,2300 when the US dollar stronger!Hello everyone, after a significant breakthrough last week, GBPUSD is currently undergoing corrective trends and showing clear short-term bearishness on the 1-hour chart. The currency pair is trading at the level of 1.229 and has lost 0.06% during the day. The GBP/USD exchange rate depicts a bearish trend in the near future after failing to break the 1.2400 level. As a result, the retracement has surpassed the previous cycle's high of 1.2337, opening up opportunities for deeper losses. Buyers need to hold the price above the highest level on October 24th, which is 1.2288, if they want to maintain hopes of higher prices. Otherwise, this currency pair will continue to extend its losses, with sellers targeting 1.2069, the lowest level on October 26th.
by Samson-FX
GBPUSD: Breakthrough transaction stepsAfter a quiet Asian trading session, GBP/USD regained momentum and reached its highest level in 7 weeks at 1.2400 on Monday. The currency pair has transitioned into an overbought state from a technical standpoint, but buyers may still be interested in the possibility of 1.2400 remaining as support. The US unemployment rate rose to 3.9% in October from 3.8% in September, with non-farm payrolls increasing by 150,000, which was lower than expectations. The US dollar (USD) continued to weaken against its major counterparts following the October employment report, and GBP/USD saw an impressive increase before the end of the week.
Long
by Samson-FX
Gold price today: Reduce shock?Samson, Hello every one! The gold price did not surpass the resistance level of $1,990/ounce last night and had to decline. As of 6:00 AM on November 7th, today's gold price was trading at $1,977, a decrease of $8 compared to the previous opening price, and it has continued to decline to $1,970 at the time of writing. In this context, the unexpected increase in the USD Index from 104 points to 105 points has caused the gold price to decline. This has led to the strengthening of the USD against six other major currencies, including the Euro, JPY, GBP, CAD, SEK, and CHF. The rise in the 10-year US bond yield to 4.64% per year has motivated many people to invest in bonds. As a result, the flow of money into precious metals has been restricted, making them less attractive and causing a sudden decrease in their prices. Outlook and trend analysis: Gold is expected to continue declining with a projected decrease to $1,953 before any motivating factors drive the price back up. What are your thoughts on this matter?
OANDA:XAUUSD
by Samson-FX
Gold price recovers slightly after the shock reduction!The price of gold is currently experiencing a gentle recovery after receiving support at the $1965 USD level, and is now trading at $1970 USD at the start of the morning session. In terms of news impacting gold: The new influx of US dollars has caused XAU/USD to drop to $1,956.65 per troy ounce on Tuesday, with the precious metal trading in the red at around $1,965 USD. The US dollar is rebounding as the market becomes more uncertain, with Federal Reserve officials warning that tightening monetary policy due to speculative interest rates may not be over. Speaking at various events, members of the Federal Open Market Committee (FOMC) agreed that inflation has eased but may require additional measures to bring it back to 2%. The financial market remains cautious despite the looming risks to economic growth at a record pace, putting pressure on gold and causing its price to decline! In terms of technical analysis on the 4-hour chart: Gold quickly dropped from the support level of $1980 and swiftly reached $1965 USD. Currently, the precious metal is bouncing back from the $1965 support level after forming a new bottom in that area, limiting the possibility of further price declines.
OANDA:XAUUSDLong
by Samson-FX
Latest gold update todayGold continues to decline, moving further away from the 2005 USD level since yesterday's trading session. At the time of writing, the price is trading at 1983 USD, providing clear evidence of the downward trend. Forecast: The upward momentum of gold is being hindered by various factors, including loose monetary policies implemented by several countries worldwide. The expected level for this decline is 1960 USD. Before any catalysts emerge to support a strong upward momentum once again.
OANDA:XAUUSD
by Samson-FX
Latest gold update today, should note what?Gold prices fell today in the context of the unexpected increase in the USD Index from 104 points to 105 points. This has given impetus to the USD to appreciate against 6 other major currencies, including the Euro, JPY (Japanese Yen), GBP (British Pound), CAD (Canadian Dollar), SEK (Swedish Krona), and CHF (Swiss Franc). Meanwhile, the 10-year US bond yield reaching 4.64% per year has prompted many to invest in bonds. As a result, the flow of money into precious metals has been limited. Today, gold prices faced additional downward pressure. On the other hand, investor sentiment is highly optimistic as most central banks are believed to have completed their interest rate tightening cycle. Additionally, the temporary easing of military conflict between Israel and Hamas has encouraged capital outflow from safe haven assets, including gold. Exiting the uptrend channel has led to an impressive price decrease at the time of writing, with gold trading at $1974. In the near future and according to the 4-hour chart, the next target level could potentially be the support level at $1965.
OANDA:XAUUSDShort
by Samson-FX
EURUSD returned to a strong price increase?Hello everyone, EURUSD has experienced a significant increase in the previous week, with a price surge surpassing the 1.070 level. It is currently trading at a new high of 1.072, the strongest increase since mid-June. Regarding the influencing factors: The daily market drivers for this currency pair include the general weakness of the USD due to the Federal Reserve (Fed) changing its stance towards a more accommodative approach, hinting that they may end the tightening cycle on Wednesday. As a reaction, US Treasury bond yields dropped to their lowest level since September, with 2.5 and 10-year bond yields decreasing to 4.84, 4.50, and 4.57%. This has added selling pressure on the Greenback and provided a significant advantage for the EURUSD pair, aiding its recovery. Regarding the new prospects for EURUSD: On the 1D chart, EURUSD is currently receiving strong support at the 1.05 level. Breaking below this level would lead to a considerable price decrease, while maintaining this level would result in a price increase. Upon careful observation, it can be seen that the currency pair has surpassed the resistance level at 1.07. Both short-term and medium-term prospects indicate a strengthening upward trend. Personally, I believe that EUR will continue to experience a strong upward movement.
by Samson-FX
Gold continues to show the strength of price increaseSamson, hello everyone! Last week, we received a lot of significant news, including the Fed's interest rate decision. Despite that, gold has maintained its strong upward momentum, trading around $1985 per ounce in the past week, with a few small touches of $2000. Currently, gold has paused at $1992 and shows no signs of stopping its price rally, indicating its long-term growth potential is still intact. The previous uptrend was broken at $1987, but gold quickly formed a new uptrend channel and is still operating well within that trend. The next target for this precious metal will be to reach the $2005 level in the coming week and conquer the weekly high at $2010.
OANDA:XAUUSD
by Samson-FX
2
What changes in gold price at the beginning of the new week?Hello everyone!! Today: Gold prices touched the $1990-1991 mark at the beginning of Monday and performed well in an upward trend on the 4-hour chart. Instead of worrying about the Israel-Hamas conflict, the market will now shift its focus to the Federal Reserve's interest rate cuts, with the only question being when and how much. The catalyst for gold's sustained recovery will be lower interest rates in the US and a weaker USD, both of which are gradually taking shape. Difficulties in the bond market and hesitation from the Fed could significantly increase the price of gold.
OANDA:XAUUSDLong
by Samson-FX
Gold continues to increase? XAU!!At the time of writing, the US Dollar Index (DXY), the value of USD against a basket of global currencies, fluctuated around 106.17 after rebounding from a weekly low of 105.81. US Treasury bond yields remain low, with the 10-year Treasury bond yield at 4.663%, the lowest since October 13. The market is confident that the Federal Reserve (Fed) is nearing the end of its tightening cycle, as Fed Chair Jerome Powell made it clear that financial conditions will need to be tightened to avoid further interest rate hikes. This puts pressure on the Greenback and supports gold priced in USD. Upcoming Gold News: Attention on Friday will focus on the US Non-Farm Payrolls data. Additionally, the Unemployment Rate and Average Hourly Earnings for October will be released. Traders will take cues from the data and look for trading opportunities around the price of gold. Samson's perspective is that gold will continue its upward trend, currently consolidating around the $1980-$1990 range. It is possible that this Friday, there could be a significant increase in gold prices during the US session.
OANDA:XAUUSDLong
by Samson-FX
Audusd boosts the trend of increasingGreetings, beloved companions! Following a prolonged period of lateral movement, AUDUSD has at last regained its upward momentum. This resurgence is attributed to the weakening of the USD, which in turn provides substantial support for this particular currency pair. Having effortlessly surpassed the 0.644 peak, there is potential for it to establish itself as a robust support level. Should there be a retest of the breakout area, it would further reinforce the significant progress made by this currency pair.
Long
by Samson-FX