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EURUSD increased but the risk was intactDear friends, Yesterday, EUR increased by 0.71% and closed at its highest level in over a month. This price increase is accompanied by strong upward momentum and the continued strength of EUR is evident today. However, any increase may encounter strong resistance at the level of 1.0700. The main resistance level at 1.0740 is unlikely to be threatened. To maintain this upward trend, EUR must stay above the level of 1.0625 (with minor support at 1.0645). In the next 1-3 weeks: Yesterday, EUR increased by 0.71% (1.0668) and closed at its highest level in about a month. The price action appears to be part of a potential extended recovery above the 1.0700 level. At this stage, it is still too early to determine whether EUR has enough momentum to reach the key level of 1.0740 or not. The possibility of further recovery remains as long as EUR stays above 1.0600 in the coming days. What are your thoughts on EURUSD?
by Samson-FX
Latest GBPUSD update todayDear readers, At the time of writing, GBPUSD is trading below the 1.2300 level. This currency pair is benefiting from the widespread depreciation of the US dollar and positive changes in risk sentiment. The UK's employment data is not moving the needle on the British pound. PMI is being closely watched. At this stage, the likelihood of GBP breaking clearly above this level is low. On the other hand, if GBP breaks the strong support level at 1.2165, it would mean that it will be difficult for it to rise to 1.2340. Best regards,
by Samson-FX
Update Gold at the beginning of the new weekDear friends, The situation in the Middle East seems to be far from finding a peaceful solution, and this can potentially sustain the upward trend in the price of gold, despite higher interest rates from the Treasury bond. Therefore, gold has become a new breeze for investors as it becomes increasingly attractive amidst prolonged conflicts and political tensions. Regarding expectations: This week, several important news about gold will take place from October 25th to 27th, with the most significant being the speech by the Fed Chairman on October 25th. Currently, the gold market is trading around the $1980 - $1981 range, and based on this possibility, the downward momentum could target the support level of $1945. After that, the upward trend will be established once again.
OANDA:XAUUSD
by Samson-FX
Gold continued to boom stronglyDear friends, Gold achieved an impressive figure last week, but it has experienced a slight decline at the beginning of this week's trading session. At the time of writing, gold is trading at $1971. Regarding market information: The ongoing tension in the Middle East has not yet ceased, making gold an attractive option for investors looking to preserve their capital amidst chaotic market conditions. Regarding technical analysis: It can be observed that Gold is gradually resembling the DOW pattern, with a potential decline to $1947, followed by a continuation of the upward trend expected to reach $2000, which gold has not yet reached. What are your thoughts on this? Do you agree with me?
OANDA:XAUUSD
by Samson-FX
EURUSD increased sharply in the new weekHello friends Currently, the upward trend that started last week is still going strong. At the time of writing, EURUSD is trading at 1.057 with no signs of breaking out of the trend. It is expected that the price will continue to maintain the upward trend, fluctuating between 1.055 (the lower limit of the rising price channel) and 1.062 (the upper limit of the rising price channel). As long as there is no breakout from the current trend, the upward momentum will remain stable.
by Samson-FX
BTC expands the trend of strong increaseDear friends, BTC continues to rise as predicted. However, the market today is relatively stable as investors await news regarding the fate of the registration with the U.S. Securities and Exchange Commission (SEC) for a bitcoin exchange-traded fund (ETF) by major financial companies including BlackRock. At the time of writing, it is trading at $29,550. Regarding technical analysis: The market seems to have been rejected after touching the uptrend channel, and this price decline may retest the $28,270 level in the near future. However, this is just my speculation. On the other hand, if BTCUSD closes above the high level or consolidates around the current trading range, it could once again make me believe that BTC may continue to rise strongly with an expected increase to $31,000. What are your thoughts on BTC as it expands its upward trend in the future?
BITSTAMP:BTCUSDLong
by Samson-FX
Gold continues to promise a new peak on high price!Dear friends! Currently, Gold is trading around the price of $1980. It can be seen that after the Fed chairman's speech yesterday, gold did not have a strong reaction but still developed with the highest impressive number in the past two weeks since October 6th. Although the Fed is still committed to its inflation target, experts still believe that increasing political instability can quickly push the price of gold higher. Since the conflict in the Middle East began, the demand for safe haven assets has helped gold rise by nearly $120. The breakout of gold above $1960 is a positive signal for gold, especially when the situation in the Middle East shows no signs of cooling down. It is expected that gold will retest the $1960/ounce level, which will help this precious metal easily surpass levels within the range of $1985 - $1995/ounce.
OANDA:XAUUSD
by Samson-FX
2
EUR/USD is damaged below 1,0500Dear friends, the EUR/USD pair is struggling to find any significant momentum and is trading within a narrow range below the 1.0500 level. The fundamental context seems to favor bearish traders. The EUR/USD exchange rate rose to 1.0595 and then retraced, forming a short-term double top pattern. The downside move below 1.0560 confirmed this pattern, with the target being achieved at 1.0530. This pattern suggests that the currency pair may have reached a short-term peak. If the exchange rate breaks below 1.0520, it could further weaken the Euro, with the next significant support level at 1.0500. On the upside, the pair would need to reclaim the 1.0565 level to indicate another test of the important resistance level at 1.0595. Breaking above this level would open the door for further gains, targeting 1.0630.
Short
by Samson-FX
Gold update and analysis todayHello dear friends! At the end of the last week's session, gold increased significantly to a high level of 1932 USD with the screen breaking from the downtrend. Today, when starting a new trading week, gold will have the potential to decrease slightly when checking the breakthrough, currently trading at 1919 USD - 1918 USD. However, the global situation tends to continue supporting the price increase of gold, so it is likely that we will soon witness new prices higher in the near future.
OANDA:XAUUSDLong
by Samson-FX
2
USD/JPY Side Way then increaseThe USD/JPY has temporarily halted its two-day upward trend, possibly due to optimistic economic data from China. The spot price traded lower, near 149.80 during the European session on Wednesday. However, the USD/JPY is benefiting from positive retail sales figures from the United States, supported by higher interest rates from the US Treasury. Market observers may be eager to understand the trajectory of the Federal Reserve's monetary policy, especially after the dovish remarks from officials. Federal Reserve Bank of Richmond President Thomas Barkin believes that the current policy has limitations, reflecting uncertainty about the upcoming FOMC meeting in November. In terms of technical analysis, the USD/JPY may experience short-term sideways movement in the near future before forming a flag pattern and breaking out of that range. My target expectation is at 151.10.
by Samson-FX
Gold conquered 2100 USD next yearHello dear friends, Precious metals continue to decline today, currently maintaining at $1914 per ounce, with little change compared to yesterday's trading session. The 1-day chart shows a breakout from the downward channel at $1910 USD. This currency pair has started to target $1900 USD. Gold may maintain stable growth above $1800 USD in the short-term selling pressure in the near future, potentially pushing Gold to conquer a higher level of $2100 USD per ounce in the coming year.
OANDA:XAUUSDLong
by Samson-FX
XAUUSD - Conquered with 1970 USD challengesHello traders! Today, Gold continues to maintain its positive trend with trading prices around $1936, after receiving a series of good news from the market yesterday. Looking at the technical picture on the 1-hour time frame, we can see that Gold is staying within an upward channel. However, it is currently consolidating around the highest level, so sellers will likely push the price of Gold down in the near future, testing the $1915 level. This upward trend is expected to continue with a projected increase to $1915.
OANDA:XAUUSD
by Samson-FX
Potential gold trades from supportDear friends, Gold prices continue to recover amid escalating tensions in the Middle East, reaching a two-month high of $1,962.62 per troy ounce. XAU/USD maintains its upward momentum, trading around $1,949 in the US session as the US dollar attracts attention following the stock market plunge. In the short term, the 4-hour chart indicates a potential downward correction, although it also shows that the upward trend is still dominant for XAU/USD. Support levels: $1,938.20, $1,926.50, $1,912.35 Resistance levels: $1,962.60, $1,978.90, $1,987.40
OANDA:XAUUSDLong
by Samson-FX
Old vertex test thanks to the increase in channelDear friends, Gold continues to rise as predicted, thanks to the favored safe haven during times of volatility. In a recent development, Federal Reserve Chairman Jerome Powell hinted at the possibility of raising interest rates. However, the market does not see this as a tightening statement. It seems that there are too many external risks impacting the economy. This will support the price of gold. In the near future, "Any data showing a decline in the US economy will further support the price of gold. A recession will force the Fed to lower rates, pushing gold up to $2,100." The strong positive trend in the 1D direction indicates that gold will continue to rise significantly, with my target at $2,017 and then the highest peak at $2,065.
OANDA:XAUUSD
by Samson-FX
GBPUSD looks at the Fed's Powell for new motivationDear friends, Currently, after a quiet Asian trading session, GBP/USD has risen higher to the 1.2200 area on Wednesday morning in Europe. The technical outlook still does not show a forming upward trend, but there could be additional gains if this currency pair starts using the support level at 1.2200. If GBP/USD fails to surpass the 1.2200 level, sellers may still be interested and cause this currency pair to retreat to the 1.2130 and 1.2100 levels.
Short
by Samson-FX
GOLD - Deep reduction, long analysisHello dear friends! Today, the price of gold has made a slight adjustment and is currently trading at $1911 since the time of writing, a decrease of $18.48 or -0.96% for the day. Last week, gold witnessed its best weekly increase since mid-March due to growing safe-haven demand amidst the ongoing Israel-Hamas military conflict. In the current politically unstable situation, investors are flocking to gold. Additionally, the US declaration of tightening sanctions on Russia's crude oil exports on Friday has caused oil prices to rise to $90 per barrel. I believe that oil prices will continue to rise, and the role of gold as a safe haven will help counter inflation, which is beneficial for gold. For these reasons, gold buyers will continue to drive the price of gold higher in the near future, with a slight test of previously broken resistance levels before the upward momentum resumes. The expected increase is around $1952 - $1960.
OANDA:XAUUSD
by Samson-FX
Analyze and update GBPUSD new weekHello dear friends! After several days of price increase, GBPUSD has returned to its downward trend. It is currently trading at 1.2167 as of the time of writing, with a short-term recovery. The adjustment of the US 10-year Treasury bond yield lower, after increasing by over 3% on Thursday, has made it difficult for the USD to appreciate based on recent gains. Due to this reason, buyers will continue to push this currency pair higher, with an expected increase between 1.2308 - 1.2415, supported by the trendline and strong support level at 1.2121. What are your thoughts on this article? Please leave your comments below!
Long
by Samson-FX
USDJPY decreased, waiting for new data from Japanese CPIHello dear traders! Currently, the USD/JPY pair has touched a level near 148.80 but quickly recovered to a wider trading range around 149.50 as the Bank of Japan (BoJ) is expected to announce inflation forecasts for fiscal years 2023 and 2024 earlier than anticipated. Forecast: The hope for intervention from the Japanese government in the FX market is diminishing. The Japanese government is concerned about continuing to sell off the Japanese Yen and believes that these unstable actions are the cause of this. Meanwhile, the S&P500 futures contract has seen a significant decline in European trading session, reflecting a risk-accepting sentiment in the market due to deepening tensions in the Middle East. The US Dollar Index (DXY) has dropped from the 106.50 level as policymakers at the Federal Reserve support keeping interest rates unchanged in November. Therefore, this is a negative factor affecting the USD/JPY pair.
Long
by Samson-FX
EUR/USD price analysis: Achieving modest increaseHello dear friends! Today, the EURUSD experienced modest gains during the Asian trading session on Monday. It is evident that the recovery of this currency pair is supported by a weaker US dollar (USD). As of the time of writing, EUR/USD is trading at 1.0525. From the technical analysis chart: As mentioned, immediate resistance for EUR/USD can be seen at 1.0558. Additional price increase filters will appear at 1.0578. Any further buying trades above this level will witness a recovery towards the key barrier at 1.0600, describing a psychological round number and the highest level of October 6th. Moving further north, the major currency pair will challenge the next resistance at 1.0640 (high of October 12th), followed by 1.0655. On the other hand, 1.0477 serves as the initial support level for EUR/USD. The next dispute to monitor is near the lowest level on October 4th at 1.0450. The next stop is in the range of 1.0400-1.0405, representing a psychological sign and the highest level of October 17th. A decisive break below this level will result in a decline towards 1.0330 (low of November 16th, 2022).
Short
by Samson-FX
EURUSD continues to fall into the fieldHello dear traders! Currently, the EUR/USD is holding higher but still below the 1.0600 level in Asian trading on Wednesday. The risk-off sentiment is dominating and weighing on the US Dollar, particularly in the face of optimistic data from China. Lagarde's speech and EU/US data are being closely watched. On the 4-hour chart, the price is well supported and is currently trading around the 1.0574 level. The current resistance level is around 1.0600, and breaking above that level will attract attention towards 1.0630. Closing the day above that level will pave the way for further gains. On the other hand, a drop below 1.0540 will weaken the outlook for the Euro, causing it to decline towards 1.0500.
by Samson-FX