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Gold followed up with jumpsHi everybody! Let's look back at gold price developments last week and prepare plans for next week! Last week saw an explosion in gold prices, when it reached a record high of 2,431 USD/ounce before cooling down and stabilizing at around 2,400 USD/ounce. By the end of the week, prices had ended at $2,392 per ounce, up 0.55% on the day. The main factors driving gold prices to increase sharply include: the conflict situation in the Middle East continues to be tense; Fed Chairman Jerome Powell and other officials believe there is no need to further reduce interest rates; and in particular, China's strong buying has facilitated gold in conquering new peaks. In terms of technical analysis, gold is still supported by the factors mentioned above. This precious metal is currently trading above the two exponential moving averages EMA 34 and EMA 89, which continues to support investors buying. Gold is maintaining its current trend, trading above the Trendline and it is important to watch for any buying opportunities when the price re-touches the Trendline and check the stability of these two EMAs. Please continue to monitor and prepare a reasonable strategy to take advantage of opportunities in the gold market next week. Wishing everyone a happy and successful weekend!
OANDA:XAUUSDLong
by RKarina
Gold prices increased at the end of the weekToday, on the last trading day of the week, gold prices increased sharply to nearly 35 USD, reaching a high of 2,418 USD before stabilizing at 2,410 USD at the time of reporting. Gold's upside was sustained by a recovery from the 34-day moving average (EMA 34), with technical factors continuing to support the price. Many investors believe that gold is receiving strong support as a safe haven, because tensions are increasing in the Middle East. If the conflict continues to escalate, gold prices are likely to reach 2,500 USD in the near future.
OANDA:XAUUSDLong
by RKarina
How will the gold price behave today?Hello everyone, after a short price drop last night, gold has begun its journey to find a new peak. In today's trading session, gold is attempting to overcome the $2,400 resistance level, supported by renewed weakness in the US Dollar and persistently low US Treasury yields, which creates conditions for this unprofitable precious metal. Gold may continue to be popular as a safe haven whenever the market fluctuates, amid concerns about the current geopolitical situation. However, this could change if upcoming statements from US Federal Reserve (Fed) policymakers increase expectations for interest rate cuts at their September meeting. Besides, upcoming housing market data and weekly unemployment claims from the US will also provide further guidance to gold investors in the coming days.
OANDA:XAUUSD
by RKarina
6
EURUSD: Continues to grow downwardHello everyone, in today's trading session, EURUSD continued to decline following the trend observed in recent days, with the price fluctuating around 1.062 and has decreased by 0.15% so far. EURUSD's decline continues, in large part due to hawkish comments from US Federal Reserve officials, which has strengthened the Dollar and become a key barrier for with any EURUSD recovery. According to careful analysis, the support level at 1,060 may soon be penetrated due to strong selling pressure. With price currently moving below both the 34 and 89 EMAs, this is a favorable time for sellers.
Short
by RKarina
Gold price today: Fierce confrontation!Hello everyone, in the early hours of the weekend trading session on Friday, gold prices recorded a $35 increase, surpassing the $2400 resistance level. However, this upward momentum did not last and the price has since dropped, stabilizing at around $2,390 at press time. This fluctuation is the second time gold prices have increased sharply and then decreased, showing that sellers are still having great influence, preventing a sustainable increase in the price of this precious metal, even though the surrounding area is still price increase trend. The appearance of two candles with long wicks in the recent chart shows that selling pressure increased sharply when gold reached high prices. So, although gold prices are trending upward, more time may be needed to stabilize this trend before the next significant gain can be achieved. Key factors driving gold prices include strong buying demand from central banks, increased demand from emerging markets, a slowdown in supply and escalating geopolitical tensions. If these tense situations continue, gold prices could approach the $2,500/ounce mark.
OANDA:XAUUSDLong
by RKarina
GBP/USD remains limited below 1,250At the start of the Asian session on Friday, the GBP/USD pair held firm at a defensive level around 1.2430. The British pound weakened against a stronger U.S. dollar, influenced by strong U.S. economic data and hawkish statements from Federal Reserve officials, leading markets to speculate that the The US central bank may postpone interest rate cuts until September. On the chart, the price has broken through the sideways area, ending the previous period of consolidation, and is expected to continue falling in the trend described by Dow Theory.
Short
by RKarina
XAUUSD - Are the bulls really weak?Hi everybody! Today, let's explore together the factors that affect the price of gold! Last night, gold experienced a major correction. The precious metal has dropped significantly in price due to fading expectations of US interest rate cuts, which has reduced demand for gold as a safe haven asset, especially amid tensions. increased tension in the Middle East. According to chart analysis, gold is trading around $2,365 and has surpassed the short-term uptrend line. Further corrections are likely to occur when the EMA 34 and 89 meet resistance levels. Regardless, the main trend for gold is still up and we can expect a recovery once the current correction period ends.
OANDA:XAUUSDShort
by RKarina
Update the latest gold price today!Gold prices continued to rise today due to increased demand for safe-haven assets amid escalating tensions between Iran and Israel. This has prompted investors to flock to the gold and USD markets to protect their assets. Precious metals are on the rise even as US economic indicators and the USD index increase, raising concerns that the US Federal Reserve may postpone interest rate cuts this year. Currently, gold is trading around $2380 and maintaining a stable upward trend across most time frames. The combination of geopolitical risks and the prospect of a more accommodative monetary policy by the Federal Reserve in the second half of this year will continue to increase the attractiveness of gold as a safe-haven asset. Despite being near record highs, gold will not be sold off due to the strategic and non-price-sensitive nature of central bank gold acquisitions, which reassures investors about its upward trajectory.
OANDA:XAUUSD
by RKarina
GBP/USD remains limited below 1,250Hello dear friends! During the first Asian trading session on Thursday, the GBP/USD pair traded light at 1.2450. The weakening of inflation in the UK has stimulated speculation that the Bank of England (BoE) may cut interest rates in the near term, putting downward pressure on the British Pound (GBP) against the Dollar. US Dollar (USD). Investors are eyeing key upcoming economic reports, including U.S. initial jobless claims, the Philadelphia Fed Manufacturing Index, the Conference Board Leading Index and other data. data on existing home sales, to further assess the trend of GBP/USD. Regarding technical analysis, sellers are dominant. Although GBP/USD has recovered slightly, it remains in a bearish bias and is moving below the 34 and 89 EMAs. A retest of the EMAs and a move towards resistance could re-invigorate the pair. trying to sell prospects.
Short
by RKarina
Gold price today: Still increasing regardless!Today, the price of gold continues to remain high and has a tendency to increase to nearly 2385 USD, with moments approaching the threshold of 2,400 USD/ounce. Escalating tensions in the Middle East serve as a supportive factor for gold. Recent capital flows have consistently sought out gold as a safe haven. Gold could easily surpass the 2,400 USD/ounce mark for the second time if conflicts intensify in this region. Furthermore, it has already risen due to central bank purchasing activities and expectations of increasing inflation.
OANDA:XAUUSDLong
by RKarina
USDJPY: Target at 155,500USD/JPY is experiencing a slight decline, trading around 154.65 in the early hours of Wednesday's Asian trading session. The strong US economy and inflationary challenges have sparked speculation that the Federal Reserve may postpone the start of its tapering cycle to September instead of June, providing support for the US dollar. From a technical perspective, the recent breakthrough of the key resistance level near 152.00 and the subsequent upward trend is seen as a new opportunity for trend-following traders. Following that are overnight fluctuations around the 153.00 level. Any significant decline below 154.00 could attract new buyers, potentially targeting the next area around 155.50.
Long
by RKarina
The Bull side is stronger?Hello everyone, are you curious about the current trend of EURUSD? Today, EUR/USD has risen to nearly 1.0650, recovering from its five-month low of 1.0622 reached last Friday. The US dollar has strengthened due to increased buying pressure in the midst of political instability, which has put downward pressure on this currency pair. The support level of 1.070 has been breached and no longer holds for this currency pair. The downtrend seems favorable as the price continues to move within a downward channel with no signs threatening this trend. After a short period of adjustment, EURUSD is expected to retest a lower level around 1.053, following the current trend. What do you think? Will EURUSD continue to decline?
Short
by RKarina
1
EUR/USD extends decline below 1.0630EUR/USD continues to decline, nearing the 1.0620 level and moving away from the year's low of 1.0600 recorded at the beginning of Wednesday's Asian trading session. However, hawkish comments from Federal Reserve officials and the flow towards safe-haven assets could strengthen the US dollar and limit any short-term benefits for this currency pair. Nevertheless, attention should still be paid to the Fibonacci retracement levels of 0.5 - 0.618, as EUR/USD may correct towards this zone after the recent sharp decline and show signs of price consolidation.
Long
by RKarina
Gold prices continue to trade high!Dear investors, We are currently at an important turning point, faced with the choice between reinvesting in gold - an investment that has eternal appeal, or going in another direction, exploring new opportunities. Yesterday, gold experienced strong fluctuations, when the price fell below 2,325 USD/ounce. However, as if it were participating in a detective movie, gold quickly recovered and reached a new high of 2,383 USD/ounce, moving closer to the historical record. Confidence in gold has not diminished, as the need to find a safe haven is increasing due to political instability in the Middle East. Gold's price boom this week was also fueled by the strength of the dollar and US Treasury bond yields, after economic reports showed retail sales in the US in March outperformed expected, raising concerns that the Federal Reserve (Fed) may be hesitant to change its monetary policy. The combination of geopolitical uncertainty and the prospect of a more accommodative monetary policy from the Fed in the second half of this year has added to gold's appeal as a safe-haven investment, making it the more attractive in the eyes of financial investors. Let's consider our investment strategy to make the most of current opportunities in this volatile market context.
OANDA:XAUUSDLong
by RKarina
Update the latest gold price today!Gold prices moved in a narrow range on Tuesday, holding steady near a record high. The ongoing crisis in the Middle East continues to influence investor sentiment, increasing interest in the precious metal. Even though the US dollar is strengthening, gold is still showing resilience as US Treasury yields fall from multi-month highs. Reducing geopolitical tensions between Israel and Iran has also failed to reduce demand for gold, as people predict prices will continue to rise. If this buying trend sustains, immediate resistance could reach $2,400 and potentially retest the all-time high of $2,432. However, if gold fails to sustain above the $2,363 support level, the next support level for the buyers could be at $2,340.
OANDA:XAUUSDLong
by RKarina
GBPUSD: Uptrend continues to be threatenedHello everyone! This week, GBP/USD has witnessed a slight recovery, climbing above the 1.2450 level after dropping to its lowest point in November at 1.2426 last week. The technical outlook still signals a downward trend, but easing geopolitical tensions may prolong the currency pair's recovery time. Investors sought safe haven assets last week following reports that Iran may retaliate for what is believed to be an Israeli attack on their consulate in Damascus on April 1st. This has boosted the US dollar as a preferred safe asset, thereby putting pressure on GBP/USD at the end of the US trading session. US stock index futures were last seen rising between 0.4% and 0.6% for the day. If Wall Street's key indices open positively and continue to rise, the US dollar may struggle to maintain its strength, potentially allowing GBP/USD to climb higher.
Editors' picks
Short
by RKarina
2
GBPUSD: Upward price momentum has not appeared yet!The GBP/USD pair is seeing a continuation of its strong downtrend, with the lowest since November 17 recorded during Tuesday's Asian session. Currently, GBP/USD is re-approaching the bottom of the monthly descending channel at 1.2440, and a test of this level is underway. Last Friday's low of 1.2430 is also in the market's sights. A clear break through this support could open the door towards 1.2370, and if the decline continues, there is no other obvious support until 1.2220. For the pair to recover, a break above 1.2505 is needed as a first step, where a large uncovered order volume is likely to be the driving factor for a further pullback to come. level 1.2565. These developments will be important in determining the near-term trading strategy for GBP/USD, especially given the current climate in the global foreign exchange market.
Short
by RKarina