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Gold strategy today: Should Buy or Sell?Hello everyone, let's explore today's gold prices together! Yesterday, the gold market seemed relatively calm with minimal fluctuations, and the downward trend continued. Currently, the precious metal is hovering around $2321 and appears to be forming a head and shoulders pattern. If this pattern completes, we could see the price testing the psychological level of $2300 today. The strategy to sell remains the preferred approach.
OANDA:XAUUSDShort
by HamedMarkets
GBPUSD: Price is still favorable for SellersToday, GBPUSD is trading around the 1.263 level, with the main trend favoring the sellers. The technical outlook points towards further downside targets as the pair remains within a descending wedge. I will trade with the trend and prioritize selling this pair. Pay attention to the upper and lower limits to find optimal buy and sell opportunities, and be mindful of your stop loss (SL) and take profit (TP) levels when the price breaks out.
Short
by HamedMarkets
Gold price today: Strong decreaseHello everyone, let's find out today's gold price and see what changes! Currently, gold has just undergone a fairly strong price correction at the end of yesterday. Accordingly, the precious metal quickly plummeted from 2320 USD to the psychological level of 2300 USD and is currently trading around the threshold of 2297 USD. Accordingly, gold is receiving support around this support level but it is still controlled by the bears. Technical indicators and trend factors are still in favor of sellers and according to DOW theory, gold's target is to find the fibonacci take-profit level of 1.618. Let's wait for gold's downward move after it breaks out of the current support level!
OANDA:XAUUSDShort
by HamedMarkets
GBPUSD Sell strategy?Hello everyone! What are your thoughts on GBPUSD today? From our chart analysis, it's evident that this currency pair is under bearish pressure. It has recently broken below the ascending trendline and is currently in a downtrend wave. Currently trading at 1.266, I believe GBPUSD might gain some short-term bullish momentum from the support around this level. However, it is likely to resume its downward trend after completing a retracement to the 0.5 - 0.618 Fibonacci levels. My target for this scenario is 1.252. What about you? Do you agree with this analysis, or do you have a different perspective?
Short
by HamedMarkets
Evaluate the strategy and outlook for gold prices today!Current Trend: The 4-hour chart shows gold in a short-term uptrend. The price is above the EMA 34 and EMA 89, showing that the upward momentum is still strong. Critical Support Zone: 2,335 USD - 2,333 USD, coincident with the EMAs, acting as a strong support zone. Key Resistance: $2,387 is the resistance to watch out for. If the price breaks this level, the uptrend could be further strengthened. Trading strategies: Buy: When the price adjusts to the support area around 2,335 USD and shows signs of rebounding. Sell: When the price approaches the resistance level of 2,387 USD and shows signs of strong rejection.
OANDA:XAUUSDLong
by HamedMarkets
Gold price creates new breakthrough!At the start of the trading session on June 21st, gold prices saw an uptick, spurred by market anticipations of an impending rate cut from the U.S. Federal Reserve, following weaker-than-expected retail sales data earlier in the week. While gold may have lost some of its upward momentum, the overall market sentiment remains largely optimistic. Numerous hedge funds have pivoted towards gold, which has helped maintain a solid support level at $2,300 per ounce. A significant pillar bolstering the gold market is its status as a safe-haven asset, providing a hedge against risk amid ongoing global geopolitical instability. Gold Price Forecast The gold market is poised for a resurgence as the Federal Reserve's monetary policy becomes more defined. With an expected shift in policy direction, investment demand from the West is likely to increase, potentially setting the stage for gold to soar.
OANDA:XAUUSDLong
by HamedMarkets
3
USDJPY: Outlook is still bullish!USD/JPY is trading near 159.00 early Friday, below its highest level since April. Japan's verbal intervention provides support for the Japanese Yen amid BoJ uncertainty over interest rate hikes and mixed national CPI data. US Dollar recovery slows ahead of key PMI data. From a purely technical standpoint, the trend is bullish across all timeframes and with the saying that “the trend is your friend” it is more likely to continue higher. USD/JPY is currently trading at 158.50 as it continues to rise in the ascending channel.
by HamedMarkets
EURUSD strategy: Should Buy or Sell !On Wednesday, EUR/USD experienced an uptick as the U.S. markets took a mid-week holiday break. As we move into the second half of the trading week, investors are looking ahead to the Friday PMI data for meaningful insights that could steer market sentiment. Despite the recent recovery, uncertainty lingers. The pair is still facing significant resistance and a downward trendline. Keep an eye on these levels – if EUR/USD breaks through the resistance, a buying opportunity could emerge. Conversely, if the resistance holds, selling might be the better strategy. Stay tuned and watch those key levels closely!
by HamedMarkets
EURUSD: Still discounted!Hello traders! 👋 As we approach the end of the trading week, EURUSD remains in the red on this Friday, currently hovering around the 1.071 mark. The outlook remains bearish as the pair continues to trade within a tightening wedge pattern, and both the EMA 34 and EMA 89 are favoring the sellers. Key Observations: Current Level: EURUSD is trading near 1.071, struggling to find upward momentum. Bearish Wedge Pattern: The pair is confined within a narrowing wedge, indicating potential for further downward movement. EMA Indicators: Both the 34-day EMA and 89-day EMA are aligning with the bearish trend, providing additional resistance to any bullish attempts. Trading Outlook: With the prevailing bearish sentiment and technical indicators supporting the sellers, the focus remains on short positions. Stay vigilant and consider these factors in your trading strategy. Happy tradi
by HamedMarkets
1
Gold buying strategy is preferredDear traders! Gold price today recorded a slight recovery, the price moved to 2337 USD and in the short term is still supporting this upward movement when from the precious metal analysis chart, it has reached an important resistance level and Get momentum when breaking the trendline. It is expected that after the trend adjustment, the price will continue to go up, the Buy target and strategy are prioritized in that case. Plan transaction on June 20 👨‍💻 XAUUSD BUY zone 2328 - 2325 🔹SL 2322 🔹TP 2334 - 2340 - 2350 Wishing you Full City 💵💵
OANDA:XAUUSDLong
by HamedMarkets
3
"Gold Slips as USD Rallies, Investors Eye Fed's Next Move"Key Points: USD and Bond Yields Impact: Gold prices edged lower at the start of the week, influenced by a strengthening USD and rising bond yields. Awaiting Economic Data: Investors are keenly awaiting economic data and commentary from Federal Reserve officials for clearer guidance on interest rate cuts. Price Range Forecast: In this environment, gold is expected to trade sideways between $2,300 and $2,335. Upcoming U.S. Economic Reports: Key U.S. data this week, including retail sales figures, weekly jobless claims, and PMI indices, are anticipated to shed light on the Fed's rate direction. Support from Fed Policy Expectations: Despite the lack of major movements, gold remains supported by expectations that the Fed will eventually pivot its policy stance. Global Political Uncertainty: Additionally, political unrest in France is heightening global risk aversion, boosting the demand for gold as a safe haven.
OANDA:XAUUSD
by HamedMarkets
Gold price today still increased above 2300 USDGold prices have surged on weaker-than-expected US retail sales and expectations of lower interest rates. Here are the key factors: Weak retail sales: US retail sales report was lower than expected, suggesting a decline in consumer spending. This raises concerns about economic growth, which could lead to economic stimulus or looser monetary policy from the Federal Reserve (Fed). As a result, gold becomes more attractive as a safe haven asset. Expect lower interest rates: With retail sales weak, the Fed could keep interest rates low or even cut them to support the economy. Lower interest rates reduce the opportunity cost of holding gold, which provides no interest or dividends. A weaker US dollar due to lower interest rates also increases the value of dollar-denominated gold in international markets.
OANDA:XAUUSDLong
by HamedMarkets
2
EURUSD Short Selling strategy?Hello everyone! What is your opinion? In today's analysis, I will focus on the bearish price movement of this currency pair. Currently, EURUSD is trading around 1.073, continuing the downward correction wave, with support From a technical standpoint, factors such as trend lines, support and resistance levels, and EMAs 34 and 89 all favor sellers. This fits well with the Elliott Wave structure. It looks like EURUSD is ending Wave 1 and I predict that the next waves will play out as analyzed, potentially breaking below the 1.061 support level. What do you think about EURUSD? Please leave a comment below so we can discuss! Good luck with your trading!
Short
by HamedMarkets