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Where will gold prices go this week?Hello everyone, following last week's upward trend, gold has once again started the second trading session with strong price increases. In the early trading hours, gold briefly reached $2354 but quickly retreated and is currently at $2337, marking a 0.31% increase for the day. In light of escalating tensions, gold's traditional headwinds have failed to impede its upward momentum in the past week. The precious metal has shown steady growth, ending the week with a 5% increase. Looking at gold's recent fluctuations, it is no longer heavily reliant on the direction of the US dollar. Gold is now establishing itself as a global currency and overshadowing traditional pressures, pushing it to new record levels.
OANDA:XAUUSDLong
by RKarina
EURUSD bullish outlook?Hello everyone! After a long period of decline, EURUSD ended the week with gains and is currently trading at 1.0836. It can be observed across most time frames that the EU has achieved significant milestones, indicating a very positive price outlook. With EU continuing to trade steadily at these high levels, there is a possibility that the price level of 1.082 will be retested in the near future, forming a trend line and using it as a strong support for further price increase. The expected price levels are currently 1.087 and then 1.093
Long
by RKarina
GBP/USD Analysis: Heading for a CorrectionCurrent Context GBP/USD ended its four-day winning streak, posting a decline following a correction on Thursday. Currently, the pair is steady on the downside, trading at around 1,262. Of note is the formation of a short-term top on the one-hour chart, representing a downtrend according to the Elliott Wave Principle. Technical Analysis Monitoring technical and selling trends is considered the priority option in the short term. Both technical indicators and wave analysis signal that investors should be bearish. The defensive target and stop loss are set at 1,257, marking a key support level that, if broken, could lead to an increase in selling pressure. Short-Term Trends and Impact In the short term, GBP/USD appears to be correcting after a bullish period. This decline can be considered a necessary technical correction before determining the next trend. If the 1.257 level holds, GBP/USD could find stability and start a new rally. However, if this support is broken, further declines are likely. Conclude Overall, GBP/USD is in a short-term correction phase with a selling bias favored. Investors need to closely monitor the 1,257 support level to assess the potential for further downside. Any news that affects USD or GBP needs to be closely observed to capture suitable trading opportunities, especially in a volatile market context.
Short
by RKarina
EURUSD: The downtrend line has not been broken yetRecent Summary: EUR/USD showed resilience on Thursday but soon encountered strong resistance at the descending trendline, leading to a fresh downward correction. The important support level at 1,076 is currently a solid fulcrum for this currency's recovery hopes. Market Assessment: The support level at 1,076 is showing significant resistance, laying the groundwork for EUR/USD's potential upside, as long as this level is not broken. The important event at the end of the day, related to USD, may be a turning point, affecting the current dynamics of this currency pair. Recovery Potential: If the end-of-day news tilts in USD's favor, EUR/USD may have to look for upside opportunities from alternative factors. However, if USD fails to receive support from the news, EUR/USD has a solid chance to recover and even rally from current support levels. Conclude: With an important event coming up and strong support at 1,076, EUR/USD is in a state of balance between recovery and downside risks.
Short
by RKarina
XAUUSDThe departure from the upward trend channel has led this product into a significant price decline. It is currently trading below the resistance levels of 2285 and 2290. A strong downward trend was established after taking profits at the $2305 mark, with stable trading activity observed on the 1-hour chart. Given these observations, it wouldn't be surprising to anticipate further price drops after testing the aforementioned resistance levels (as illustrated on the 2-hour chart), with an expected decrease to $2.248. If you find this post insightful and valuable, don't forget to leave a like and share your thoughts. It would make me extremely happy.
OANDA:XAUUSDShort
by RKarina
Strategic Plan for Hikal Ltd.: Targets and Breakout StrategyHikal Ltd. Current Market Price: Around 304 Hikal's shares have been consolidating within a strong range for the past 14 months, consistently finding support between 260 and 275. Once again, a glimmer of hope has emerged... We have a plan in place. We await a weekly closing above 330 . We will initiate a buy position after a breakout above the high of that weekly candle. We'll consider the zone between 320 and 330 as a retest area. If the trade becomes active and returns to these levels, we may consider adding more positions. Targets: Initial Target: 420-425 Upon closing above 456: Hold for 595, then 725, and potentially aim for 800 and 880. Get ready for an exciting ride with Hikal Ltd.
NSE:HIKALLong
by iamrk7
XAUUSD: Setting new highs!Today's gold price gently adjusted, from $2,300 to $2,272, reflecting volatility but not eclipsing the long-term growth trend. In the face of inflationary pressure and positive economic data, the Fed may continue its strict monetary policy. However, policy flexibility is still the driving force behind gold prices, along with pressure from the national debt, creating a solid foundation for price increases. Gold, therefore, is still an attractive investment channel, resistant to inflation and instability. From a technical perspective: price is still well supported by EMA 34.89. It is expected that the price will recover after the correction and retest the EMA 34.89.
OANDA:XAUUSDLong
by RKarina
Possibility of BOA clear Breakout and sustaining above 215 might open up the probability of 350 price levels, as per basing pattern. A strict Stop Loss of 135 is to be followed on a closing basis. --- --- --- ALWAYS GO IN WITH A PLAN Virtually every endeavor—playing a sport, building a house, jackhammering a street, running for political office, or performing a surgical operation—requires a plan before you get started. A contractor wouldn’t even start to dig the foundation for a building without having blueprints. Before every game, the coach of your favorite sports team drafts a game plan and presents it to the players. A surgeon has test results, MRI imaging, and a surgical plan before making the first incision. If you want success in the stock market, before you do anything, you should develop a plan. (from the book) - Minervini, Mark. Think & Trade Like a Champion
NSE:ARVEELong
by srjatav
EURUSD: Suddenly back!In the context of the first rays of dawn in Asia, EUR/USD suddenly exploded, reaching the symbolic level of 1.0850. This recovery was fueled by tension from the USD index, after the shock from the US ISM Services PMI did not meet expectations in March. Then, profit-taking comments from the Fed Chairman Powell added even more "water to the cup", sparking a big move on the trading floor. The weakening of the US Dollar is not only a golden basis for those holding the Euro but also opens a new page for this currency pair. Is this evidence of a new era of the Euro value system or just a fleeting passing color? What will happen next on the electronic boards of global financial markets, as the big picture gradually emerges?
by RKarina
GOLD - ready NEW MAXIMUM?!We had a volatile day yesterday, with gold prices skyrocketing from 2275 to a new peak of 2305. Today continues to be an important day with news that could trigger a price correction. While gold is not typically a top choice for technical analysis, it is currently approaching the top of the price channel. However, we also know that gold is always a sought-after asset for investment and storage, continuing to drive prices up. So I set my next target for gold at the new price level - 2320. Please share your thoughts or opinions, I always look forward to hearing from you.
OANDA:XAUUSDLong
by RKarina
BAJAJ FINANCE- Consistent Compounder getting ready for comeback?SYMBOL - BAJFINANCE Bajaj Finance is one among India's the biggest NBFCs. This stock has been a consistent compounder. This stock is currently trading in a support zone of 6500 level. This area is a major support zone for Bajaj Finance. This is a good time to invest in it as long term investment. This stock is a blue chip compounder stock. It has made & It will make a lot of wealth to long term investors in long run. There is also a trading opportunity. As this stock is in a good support zone, I have made a long position in far month futures today around CMP 6555. I will add more longs if getting 6500-6450 levels. My stoploss would be below 6400 & targets would be 6880-7200 & 7420. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my investment/trading position. You can track it for educational purposes. Thanks!
NSE:BAJFINANCELong
by akshit_official
11
Gold continues to increase strongly!Hello, my notable friends! Today, the price of gold has seen an impressive increase, with spot gold rising by $29.9 to $2,281 per ounce. This significant surge on April 2nd, according to US time, has been driven by the relentless demand for a safe haven amidst escalating tensions in the Middle East. The gold market continues to defy the strength of the US dollar and predictions of interest rate cuts in the US, consistently setting new records. Furthermore, strong demand from retail investors and global central banks also play a crucial role in extending the upward momentum of this precious metal. Considering these factors, a target of $2,300 for gold seems not only feasible but highly likely!
OANDA:XAUUSDLong
by RKarina
4
Gold continues to discover new peaks!Today, gold continued to impress, surpassing the $2,300 mark, a significant achievement even as the US dollar and bond yields both increased pressure. The shortage of gold supply, thanks to central banks around the world actively stockpiling and strong interest from hedge funds, has pushed gold prices to new highs. From a technical perspective, gold continues to show outstanding strength, stabilizing above the EMA 34 and 89 and showing an upward trend in price over many time frames. Based on this solid support and technical analysis, gold is forecast to continue rising, with the next target being the Fibonacci level of 2460 USD. For those investing in gold, this promising adventure is just beginning.
OANDA:XAUUSDLong
by RKarina
GBPUSD: Preparing for a new trend?Hello dear friends! Overall, Wednesday saw a stunning comeback for the British Pound, as it quickly regained strength from its seven-week low at 1.2539. A combination of comments from senior officials at the Federal Reserve and data on the US services sector that missed expectations created a strong headwind for the US Dollar, pushing it went lower for two consecutive days. This is a turning point for GBPUSD, when this currency takes advantage of the opportunity to bounce high, painting a colorful recovery scenario on the financial rankings.
Long
by RKarina
EURUSD: Recovering but outlook still bearish!Hello EURUSD traders! Today, we are witnessing a modest recovery of EURUSD to the level of 1.0777, but it still exhibits characteristics of a downward trend. Chart analysis indicates that the decline continues as it breaks out of the upward trend line. Furthermore, the convergence of EMA 34 and 89 appears to favor sellers. According to the Dow Theory, this currency pair is undergoing a corrective wave in its trend and is testing for a breakout, suggesting that any price increase may not be sustained. The target for the downside and the current selling zone is aimed at the first Fibonacci retracement level of 1.618.
Short
by RKarina
XAUUSDOh my goodness, everyone! You won't believe how gold has been shining like a diamond lately! On Wednesday, for the seventh consecutive day, gold (XAU/USD) reached an all-time high of around $2,282. Isn't that incredible? With all the drama unfolding - from the heartbreaking conflict between Russia and Ukraine to the simmering tensions in the Middle East, not to mention the devastating earthquake in Taiwan - it's no surprise that gold has become a safe haven for anyone seeking refuge. Just like when the stock market feels like a roller coaster ride, gold becomes our calm in the storm. And guess what? The US dollar (USD) decided to take a little nap, which only added to the allure of gold. It seems like the speculators betting against the Fed's interest rate cuts are throwing all the drama aside, making gold even more enticing. With this fascinating backdrop, it's quite clear that the path of least resistance for gold is upwards. So, will the price decrease slightly? I say this is a fantastic buying opportunity for XAUUSD. Let's admire those golden moments together!
OANDA:XAUUSDLong
by RKarina
GBPUSD: Maintaining the falling channel !Hello! Today, GBPUSD is once again experiencing another day of losses, clearly indicating a downward trend within a stable price channel. The pair has yet to show any signs of a breakthrough. Currently trading at 1.256, GBPUSD continues to operate below the EMA 34 and 89 lines, providing more selling opportunities around this pair. As long as the downtrend channel remains intact, the prospect of a price decline for GBPUSD remains a prioritized strategy.
Short
by RKarina
EURUSD: Discounts are still preferred!Hello dear friends, as predicted by us yesterday, the EURUSD pair continues to decline at the current price level of around 1.073 and the prospects are even more bearish. The recent rise in the US dollar following strong US PMI ISM data has weighed on this currency pair amidst investors' concerns about Germany's inflation data. From a technical analysis perspective, this currency pair lacks a clear direction for the next trend as the EMA 34 and 89 do not provide us with signals and future prospects. However, the preference still lies with the downward movement, with lower highs and EURUSD breaking below the support level of 1.075. In my personal opinion, I hope that this currency pair will continue to correct further and the lowest point at this time is 1.055.
Short
by RKarina