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USDJPY : Forming lower highs!USD/JPY edged lower on Wednesday, slipping back to the 153.00 level after a broad-based decline in the US Dollar (USD) shed weight against all of its major peers. The Japanese Yen (JPY) is also looking to ease selling pressure in the broad market, recovering ground as the Greenback declines. US Consumer Price Index (CPI) inflation eased slightly on Wednesday, with headline CPI inflation in April falling to 0.3% versus market forecasts of holding at 0.4%. Easing inflationary pressures are raising hopes of a rate cut as investors call for a rate cut from the Federal Reserve (Fed).
Short
by RKarina
Gold price today: Continuing to search for new peaks!Hello everyone, let's learn about gold prices today. At the end of the trading session on May 15, gold increased by 27 USD, reaching 2,385 USD. During the trading session, at one point the gold price reached $2,390, the highest level in nearly a month. The USD index yesterday fell 0.6%, to its lowest level in more than a month. The depreciation of the USD has made gold more attractive to buyers, creating conditions for gold prices to recover strongly. Comments from the chart: Gold continues to consolidate its record upward momentum on the two EMAs 34 and 89, showing a good sign for buyers in the long term. In addition, gold is forming a cup-in-hand model, it is expected that after the adjustment, the long-term target of over 2,500 USD will continue to be targeted by the Bulls!
OANDA:XAUUSDLong
by RKarina
4
Gold Price Today: Reversing to increase in price!Currently, gold price has increased by 21.9 USD, reaching 2,357.6 USD/ounce, recovering to the high level from last week after positive news announced last evening. The main reason is the weakening of the USD and Treasury bond yields after data on US producer prices in April were published. The USD fell 0.2%, making gold more attractive to investors using other currencies. Yields on 10-year Treasury bonds also fell, reducing the opportunity cost of holding gold, thereby boosting gold prices. In addition, the fact that Fed Chairman Jerome Powell did not signal a rise in interest rates is also a positive factor, which can help gold prices continue to grow.
OANDA:XAUUSDLong
by RKarina
XAUUSD - Downside correction outlook continues!The gold market today showed a modest recovery, with the metal trading at approximately $2343, reflecting a 0.34% gain since yesterday's notable decline. However, there are emerging signs that gold may be forming an inverted cup and handle pattern. If this pattern fully materializes, it suggests the possibility of a further downside correction, reaching a Fibonacci retracement level of 0.618 to 0.5. In such a case, the $2,305 mark is expected to act as a solid defensive zone for those who are optimistic about gold's prospects.
OANDA:XAUUSDShort
by RKarina
EURUSD: Continue the price increase chain!EURUSD has decreased slightly at the end of the weekend session, with the closing price of over 1,076, but it still maintains a significant recovery trend in recent days. Important resistance levels for EUR/USD pairs are currently in the range of 1,0790 - 1,0800, determined by EMA 34, 89 and the upper boundary of the trendy channel. The next level of resistance should be noted that the highest range on April 9, at 1,0885, investors are aiming for.
Long
by RKarina
XAUUSD - Bearish but outlook still bullish!Hi everybody. At the beginning of today's trading session, gold fell after a strong increase late last Friday. Year-to-date, the precious metal is down more than $10, reflecting a 0.48% drop on the day. Looking ahead, gold is expected to face more short- and medium-term corrections. However, from a long-term perspective, investors and markets are still optimistic that gold will regain the $2,400 level. This belief is reinforced by signs that the US labor market is cooling. With inflation under control and US interest rate cuts expected to increase - currently expected to happen twice - the outlook for gold remains positive, encouraging traders to stay maintain faith in its resilience!
OANDA:XAUUSD
by RKarina
Gold price today: Forecasted to continue to increase sharply?Hello dear friends, let's learn about gold prices in the new week! Currently, gold is continuing to adjust after a strong price increase over the last two days of last week. This metal is trading around 2,358 USD in the first trading hours of the second day and down 0.11% on the day. Accordingly, the correction is taking place according to the basic wave structure, so there is nothing too worrying about the metal's ability to continue to recover. In terms of outlook: Gold targets the 2045 USD range to test the EMA line as well as complete the correction wave around the 0.5-0.618 Fibonacci level followed by a price increase again according to Dow theory. Regarding forecasts: Of the 17 analysts who participated in the survey, 10 experts, or 59%, expect to see gold prices move higher next week; while only 2 analysts, accounting for 12%, predict prices will decrease. The remaining five experts, or 29% of the total, see gold trending sideways.
OANDA:XAUUSDLong
by RKarina
Gold price returns to the race to increase?Global gold prices have continued their upward trend, with gold prices reaching $2,360/ounce. This is the strongest increase in 5 weeks, as more and more investors expect that the US Federal Reserve (Fed) will soon adjust monetary policy towards loosening. This optimism is further reinforced by recent economic data, which shows a slowdown in the US economy, increasing expectations that the Fed will have to loosen monetary policy in the near future. Specifically, after the US monthly employment report did not meet expectations, the latest report on weekly unemployment benefit applications increased higher than expected, which pushed gold prices up more than 1%. , reaching its highest level of the month.
OANDA:XAUUSD
by RKarina
EURUSD: Stable price increase on the weekend!The resurgence of some bearish sentiment towards the US Dollar (USD) sparked a notable reaction in EUR/USD, taking it to a two-day high around 1.0780 during trading hours first of Friday. The Dollar's pullback also coincided with a broadly negative session in US bond yields across various maturities, particularly after investors priced in a larger-than-expected rise. of weekly claims as they continue to review the Federal Reserve's recent decision to leave interest rates unchanged with the possibility of the central bank starting an easing cycle in September thereby creating Add new motivation to EURUSD. In terms of technical analysis: EURUSD increased in price but is still in the narrowing price wedge and limited below the resistance level as marked. It is expected that after a move to retest the EMA as well as the trendline once again, EURUSD will receive more momentum. new for the price increase to continue to grow larger and stronger. Wishing you happy trading!
Long
by RKarina
Gold price today: Gaining momentum again!Golden information: According to the weekly report from the US Department of Labor, the number of first-time applications for unemployment benefits in this country has increased to the highest level since August last year. In the week ending May 4, the number of people applying for unemployment benefits for the first time in the US increased by 20,000 people compared to the previous week, an increase that exceeded expectations, to 231,000 people. The data raises expectations that the Fed will begin cutting interest rates at some point this year. Gold is a non-interest-bearing asset, so the strength of gold prices is often reinforced when the prospect of the Fed cutting interest rates increases. In addition, gold price this session is also supported by the decrease in USD exchange rate and US Treasury bond yields. After the US jobs report, the Dollar Index measuring the strength of the USD decreased by about 0.3%, to more than 105.2 points. Gold is priced in USD, so USD depreciation is a beneficial factor for gold prices.
OANDA:XAUUSD
by RKarina
GBPUSD : Hold breath waiting for a new signal from the marketHello friends! Today, the GBP/USD pair remains on the defensive around 1.2495 at the start of the Asian session. The US dollar continued to gain for the third consecutive day, putting pressure on the recovery of GBPUSD, which appeared unchanged from yesterday. The outlook for further price declines remains intact. Currently, the market is moving into a cautious mode ahead of the Bank of England's (BoE) interest rate decision later today and no changes to interest rates are expected. Additionally, the US weekly initial jobless claims report will be released, followed by a speech by the Federal Reserve's Mary Daly.
Short
by RKarina
XAUUSD - Shocking price increaseEveryone, let's find out what's new in the gold market today! Yesterday, gold saw a significant breakthrough, as the metal rose from around $2300 USD to as high as $2350 USD at the moment, completely shedding previous bearish sentiment. The weakening of the USD has strongly supported the upward trend in the price of this precious metal. In addition, gold prices rose even higher "after a number of major central banks decided to cut interest rates or signaled their willingness to cut interest rates further in the future." Lower interest rates reduce the "opportunity cost" of holding gold, a non-yielding asset, making it a more attractive investment. Looking at the chart analysis: Gold is approaching the resistance area as marked. On the upside: If it succeeds in maintaining this trend and successfully closes above resistance, XAUUSD will open up a profitable opportunity to quickly move towards $2400 USD. On the other hand, if a pullback to correct the trend occurs, XAUUSD will retest the breakout zone at $2330 USD once again, but the uptrend will still be maintained as the 34 EMA is reversing and signaling positivity for buyers.
OANDA:XAUUSDLong
by RKarina
Gold price today: Prospect of price increase delayed!Hello dear friends, let's understand today's gold price! Currently, today's gold price continues to move above 2,300 USD and has not changed much compared to the same trading session yesterday. Accordingly, Gold remains at familiar levels in the context of rising US Treasury bond interest rates and a strong US dollar. Traders await unemployment claims on Thursday, followed by the University of Michigan's Consumer Sentiment survey on Friday to find new direction for the metal. Looking at the outlook from the technical chart: The 4h chart of XAU/USD shows that the upside potential is still limited, the metal continues to be limited below the resistance of 2335 USD and moves below the two EMAs 34, 89 without a clear direction. Bears may have a better chance of a clear break below the $2,300 mark until Gold breaks below that level and trades around $2,260 according to the trendline.
OANDA:XAUUSDShort
by RKarina
Update the latest gold price today!Hello everyone, today we will learn about the gold market to determine whether this is the right time to buy or sell. Starting with the current gold price chart, we see that the gold price has increased by more than 6 USD, currently sitting at around 2131 USD. Even so, there haven't been any significant breakthroughs. Gold prices remain stable around 2,305 USD, and the market is waiting for new information to be announced later in the day to have a clearer view. There are two important events that will affect the USD exchange rate: Claim unemployment benefits Auction of 30-year US bonds Outlook Analysis: On the 1-hour chart, gold appears to be in the process of consolidating and moving sideways. Because the Bollinger Bands index shows no major changes affecting the current trend, we can expect gold prices to not change much until important news is announced. Careful observation and attention will be the key to determining the right time to trade. Gold is expected to fluctuate between 2328 - 2305 USD until the end of the day.
OANDA:XAUUSD
by RKarina
EUR/USD is stuck in a downtrendHello friends! Today EURUSD remains stuck below the 1.075 resistance level as the US dollar edged up slightly. As a result, trading in the pair appears to be quieter than yesterday, when market sentiment focused on speeches from ECB policymakers. Looking ahead: EURUSD is trending down, with the 4-hour chart showing the pair entering a consolidation range. Against this backdrop, the immediate upside barrier at 1.0800 will limit the potential for recovery, followed by 1.082. On the downside, EURUSD will soon encounter support at 1.0705, which will dictate the next recovery before reaching 1.065.
Short
by RKarina