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Eurusd has difficulty increasingHello everyone! The EUR/USD pair has risen by more than 10580 during the early Asian trading session on Thursday. The US dollar (USD) weakened after the Federal Open Market Committee (FOMC) policy meeting, providing some support for the major currency pair. Currently, EUR/USD is trading around 10597, up 0.26% for the day. My perspective is that after reaching the resistance level of 1.066, a retracement will occur here with an expected decline to 1.052. Do you share the same viewpoint as me?
by Samson-FX
Short -term analysis of gold todayDear friends, Gold is currently narrowing its price range, indicating a significant decline in the near future. However, in my opinion, this adjustment is only temporary as the conflict in the Middle East is considered noteworthy and the current trend of Gold depends on it. This decline could bring Gold back to its support level around $1950. Maintaining a strong hold above this support level will drive Gold to a robust growth around $2000 before any further catalysts push it to continue rising.
OANDA:XAUUSD
by Samson-FX
5
USDJPY increased sharply with the daily expansion trendToday, the USD/JPY pair is attracting a lot of buying activity on the first day of the new week and seems to have halted its retreat from the 150.75-150.80 level, the highest since October 2022 touched last week. However, Samson still maintains faith in the price and this currency pair is currently trading around the 149.70-149.75 area. It has gained less than 0.10% for the day as traders weigh up a crucial central bank meeting before placing bets on a new direction. So, the Bank of Japan (BOJ) is expected to announce its decision on Tuesday amid increasing speculation about the possibility of changing the yield curve control (YCC) policy. However, this poses a challenge for the bank to escape negative interest rates. This marks a clear divergence from other major central banks, including the Federal Reserve, and the risk appetite sentiment has made the Japanese Yen (JPY) a safe haven and a key factor driving favorable winds for the USD/JPY pair.
Long
by Samson-FX
Supports retesting and fluctuations before FED newsContinuing to consolidate after breaking the resistance level of the triangle. The retest of the support level has formed, but the market reaction is still weak. The market is anticipating news to come in on Wednesday. Market volatility has decreased as traders await upcoming news. The situation in the Middle East has not improved, leading to increased interest in gold. However, traders are being cautious in their trading activities due to the news and reports. There is a possibility that prices will test the $1987 level due to the tense situation. I want to emphasize that any market reaction can lead to price increases. The market seems to be supporting an upward trend, so the levels of $2020 and $2025 are highly regarded. But before the news, volatility will decrease. What are your thoughts? Do you agree with me.
OANDA:XAUUSDLong
by Samson-FX
Gold price today, continues to increase sharplyHello everyone! Let's explore the Gold market with Samson today. On Wednesday, we have ADP and interest rate announcements. On Thursday, we have unemployment figures. On Friday, we have Non Farm data and news about the war, which also needs to be monitored. But currently, the situation is still unclear as communication has been cut off. You need to be cautious. The price of gold is currently fluctuating around the resistance level of $2000 and has become quiet as it is unable to break through this resistance. However, the outlook for gold prices still maintains a good level, indicating strong fighting capabilities on the gold side. At the time of writing, gold is at $1995.
OANDA:XAUUSD
by Samson-FX
Gold continues to conquer high levels on 2020 USDThe global gold market has witnessed strong buying activity in the past two weeks. Investor demand for safe havens has increased amidst escalating tensions in the Middle East. Gold prices have marked their third consecutive week of gains. At the time of writing, the Gold market is trading at $2000. Based on the 1-hour psychological level analysis chart, $2000 currently acts as a resistance level for gold. It is expected to quickly push back against this price increase, although gold may not see a significant decrease. The expected support level could be around $1985, followed by a reestablishment of the upward trend for this precious metal. The year 2020 is being highly anticipated by gold buyers during this time. This week, we will receive two pieces of news on November 1st and November 3rd that will make gold even hotter than ever.
OANDA:XAUUSD
by Samson-FX
USDJPY encountered challenges for the continued trendDear readers, USDJPY is maintaining a strong upward trend above the 150.00 level, but it is currently trading relatively calmly as it fails to surpass the resistance level at 150.49. At the time of writing, the price is trading at 150.20. In my opinion, it would be wise to retest the previous breakout zone around 150.05 or look for support levels lower around 149.80. The bullish trend will continue to prevail as long as it remains well established above 149.80. What are your thoughts on this?
Long
by Samson-FX
1
Hot market for gold sellersDear friends, Crude oil prices are forecasted to potentially increase to $150 per barrel. Global inflation is likely to rise to 6.7% in 2024. Instability can quickly push up the price of gold. However, in the short term, gold is facing pressure from a strengthening US dollar. At the time of writing, Gold is trading below the $2000 mark, currently trading around $1991. It is expected that Gold will rise to $2000 in the near future due to the stability of the trend on the 1-hour timeframe. The short-term target for investors selling gold would be the support level at $1985, after which the upward trend will continue. What about you? Do you agree with me?
OANDA:XAUUSDShort
by Samson-FX
Latest gold market update todayDear readers, The market's attention is currently focused on the upcoming release of the Personal Consumption Expenditures (PCE) index, which is expected to be published on Friday. The data is anticipated to provide further clues about the Federal Reserve's policy meeting next week. Regarding the outlook analysis: Gold, a safe-haven asset used to hedge against political and economic uncertainties, will lose its attractiveness if interest rates rise. The upward price trend is being reinforced more strongly than ever. At the time of writing, the price of gold is trading at $1987. In this weekend's trading session, the psychological level of $2000 will likely hold steady. As for today's trading session, gold is expected to remain relatively calm.
OANDA:XAUUSD
by Samson-FX
1
Gold will definitely exceed $ 2000Dear esteemed comrades, At the conclusion of yesterday's trading session, gold has gained a dominant position in terms of price increase. As of the time of writing this piece, gold is trading below the $2000 mark. In the current context of gold: - Amidst ongoing tensions in the Middle East, concerns about political instability are expected to persist in the short term, providing continued support for gold. - The market anticipates that the Federal Reserve will maintain interest rates at its upcoming policy meeting next month. If data suggests a slowdown, the Fed will have additional reasons to refrain from raising rates, which will greatly support gold and push prices back above $2000. Regarding technical analysis: - The upward trend is strongly reinforced on the daily timeframe. However, the $2000 level is considered a psychological barrier for buyers at the moment. In my opinion, a corrective phase with a testing nature is likely to be closely observed here. Nonetheless, I remain optimistic and maintain my view of emphasizing the continuation of the upward trend in the gold market at this time.
OANDA:XAUUSDLong
by Samson-FX
UJ tests support againDear friends, As predicted by Samson, the upward momentum is still being strengthened and is currently trading at a high level of 150.39 today. USD/JPY is preparing for a decisive breakthrough above the psychological resistance level of 150.00. This asset seems strong as the US Dollar Index (DXY) continues to rise following S&P Global's report of increased business activity in October. Samson emphasizes that UJ is expected to continue rising, but it is necessary to reassess the support level of 140.82, which coincides with the previous uptrend channel, in order to officially establish the continuation of the upward trend. Along with the stability on the weekly timeframe, Samson is optimistic about breaking out of the high level of 151.81.
Long
by Samson-FX
EURUSD lost the declineDear friends, Let's explore the market with Samson today! Moving away from the upward trend, the EUR has lost momentum in today's trading session. This is due to the strength of the US dollar. Attention has now shifted to the meeting of the European Central Bank (ECB) and economic data from the United States. In terms of technical analysis: The price is currently testing support at 1.0531 with the potential to touch resistance at 1.0569. However, a rejection is expected to occur here, leading to a decrease to 1.0461. My immediate target is the formation of a DOW pattern. What about you? Do you agree with my analysis?
Short
by Samson-FX
EUR is strongly recoveredDear valued readers! The EUR currency market has experienced a decline on Tuesday, giving up all the gains from Monday, following stronger-than-expected US PMI data and continued challenging growth prospects in Europe. At the time of writing, EURUSD is trading at 1.058. Another note, the prospect of reduced inflation and impending recession ensures that the European Central Bank (ECB) will maintain its current stance on Thursday. The German IFO survey, scheduled for Wednesday, will shed light on the challenges ahead. From a technical standpoint: Prices have rebounded thanks to strong support at the 1.053 level, although the overall trend remains bearish for an extended period. However, there is still potential for price increases. The current target is to develop near the resistance level at 1.070.
Long
by Samson-FX
BTCUSDT killed the bear, the market was hotDear friends, After experiencing a brief correction from its all-time high of $35,300, Bitcoin (BTC), the leading cryptocurrency in the market, is showing signs of a new upward trend. At the time of writing, Bitcoin is trading at $34,500, successfully recovering the losses incurred during the recent correction on Tuesday. Over the past 24 hours, Bitcoin has maintained a 1.4% increase. Another encouraging sign for Bitcoin's prospects is the open interest in call options, which recently surpassed $10 billion. To put it into perspective, during the peak of the 2021 price rally, open interest in call options reached $9.9 billion. This significant milestone indicates that market participants are increasingly positioning themselves for Bitcoin's potential price increase. The growing number of call options suggests optimistic sentiment among traders and further raises expectations of price growth. Considering these factors, it would not be surprising if this upward trend reaches $40,020 in the near future. What about you? Do you agree with my viewpoint?
Long
by Samson-FX
2
GOLD ranging marketDear friends, Gold is trading relatively quietly as profit-taking pressure sets in after a recent strong rally. Investors are taking profits as the US dollar shows signs of strengthening. At the time of writing, the price is trading around $1971 - $1972. Regarding the outlook for gold this week: We need to pay attention to the US GDP report for the third quarter, which will be released on Thursday (26th October). The personal consumption expenditure (PCE) index will be announced on Friday (27th October), along with other economic reports, especially speeches by European Central Bank President Lagarde and Federal Reserve Chair Jerome Powell. Due to these reasons, gold sellers continue to push the price down, with an expected decrease to $1945 before the upward trend is established again. What are your thoughts on this?
OANDA:XAUUSDLong
by Samson-FX
Gold price is falling, target 2000 USD is difficult to targetDear friends, Gold is entering a phase of decline as the upward momentum weakens and the $2000 threshold remains unattainable. Trading is currently experiencing a slight decrease on the 1-hour timeframe, reaching a trading level of $1973. The inability of gold to recover this week signals a weakening of "safe haven demand," suggesting that the market is learning to live with the tensions in the Middle East. Additionally, the strengthening of the US dollar has made gold more expensive for foreign buyers, significantly reducing purchasing power. Although a price increase occurred, it was immediately rejected at the resistance level. The target for this downward trend is set at $1960 and $1950, indicating a continuation of the price decline.
OANDA:XAUUSDShort
by Samson-FX
'Staying head' when tensions escalateHello everyone! Wrapping up this week's trading session, Gold reached the predicted level of $1980. Regarding the analysis of this week's news: In his speech, Federal Reserve Chairman Jerome Powell stated that inflation in the US remains too high and economic growth is slower than necessary to reduce inflation. The comments from the Fed Chairman raised hopes in the market that the central bank may pause interest rate hikes. This suggests that there are significant risks to the prospects of the economy, thereby supporting the price of gold. Regarding technical analysis: The 4-hour chart shows that Gold is consolidating around the $1980 level, which was previously expected. This could be a Gold pullback, but the market seems to lean towards the selling side as the candle ends with a bearish tone. Therefore, according to Samson, in the coming week, Gold may retest the support level at $1970 or even lower at $1950 before continuing its upward trend towards the expected target of $2022.
OANDA:XAUUSDLong
by Samson-FX