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Gold price today: Expect a gentle adjustment!Let's take a look at the exciting gold news of the week! Since February 28th, the gold market has truly heated up, with prices soaring to new heights and gently landing around $2,160 per ounce in Friday's Asian session. The expectations of a Fed rate cut in June have breathed new life into the sails of gold prices. And it was none other than the suggestive remarks from Fed Chairman Jerome Powell before Congress that added fuel to the fire, making predictions of an interest rate reduction even more certain. Looking back on a dazzling week for gold, it is not difficult to see that after the frenzy comes the cool breeze of adjustment. Personally, I predict that while gold has reached its peak of glory, it will not be able to avoid a certain "cooling down." Let's wait and see what gold will do next in this vast financial landscape.
OANDA:XAUUSDShort
by RKarina
Gold price today: Waiting for new jumps!The price of gold continues to rise to its all-time high around $2156 as Chairman Jerome Powell's comments reinforce expectations of monetary policy easing this year. Betting on interest rate cuts is driving up the price of gold, and everyone anticipates that the easing will happen soon, further supporting gold. The non-farm payroll report for February, set to be released on Friday, is expected to provide clearer information on the timing of the US interest rate cut. According to a Reuters poll, economists forecast that the US created 200,000 jobs in the month. If the employment figures are weaker than expected, it could push the price of gold even higher, nearing $2,200 per ounce.
OANDA:XAUUSDLong
by RKarina
2
EURUSD: Retesting the breakout zoneRKarina is delighted to meet you all again, to discuss and strategize for today! As expected, EUR/USD is testing its highest level in two months around 1.0950 during the Asian trading session on Friday. This currency pair gained ground on Thursday, supported by prospects of ECB movements and a weakening US Dollar following a dovish tone from Fed Chair Jerome Powell. The upcoming US NFP will be the focal point today, determining the moves for this currency pair. In the short term: Today, we prioritize selling as this currency pair undergoes a corrective trend after a significant rally. The pullback level is expected to be around 0.5 - 0.618 Fibonacci retracement (coinciding with the previous peak level for testing purposes).
Short
by RKarina
USDJPY: Downward pressure remainsHello dear friends, as expected, our USDJPY pair has declined to the support level at 147.84 and is showing signs of consolidation. In this case, a cup pattern is also forming, and a corrective rally may occur, although it is unlikely to last long as the market is still anticipating an interest rate cut in the near future, which would weaken the USD and limit the recovery of USDJPY. The expected price decline will continue if it reaches the 0.5 - 0.618 Fibonacci level (around 148.700). The target for sellers this time is 146.34. Wishing you happy and successful trading.
Short
by RKarina
GBPUSD : Moving towards critical creature abilities !The GBP/USD pair remains steady above the psychological barrier of 1.2800 in the early Asian trading hours on Friday. Selling pressure by the US Dollar provides some support for the major currency pair. The highlight on Friday will be the US labor market data for February. This currency pair has continued to gain points, although it has not yet surpassed the 1.2800 level. As mentioned before, buyers may not be able to sustain the value, and GBP/USD could face a decline. The next support level will be at 1.2700, followed by the 34-period Exponential Moving Average (EMA) at 1.2673. On the other hand, if buyers exten
Short
by RKarina
Gold price today: Record high!Hello everyone, it's great to see you all again for today's discussion on the price of gold! Currently, gold is trading around $2,145.560 per ounce, an increase of $17,995 per ounce compared to yesterday's price. This upward trend in gold continues today, driven by the expectation of monetary easing in the United States. Gold has strong potential for short-term growth as the Fed will not let the US economy weaken. The Fed is likely to soon cut interest rates, which will support gold. However, gold also faces several risks as the precious metal is rapidly rising and reaching record highs. Profit-taking pressure may increase as a result. According to technical indicators, gold is currently overbought. This could mean a potential reversal to a downward trend if profit-taking activities intensify.
OANDA:XAUUSDShort
by RKarina
EUR/USD: rises to 5-week highRKarina greets everyone! Today, the EUR/USD is testing its highest bidding price since the end of January, quickly surpassing the 1.0900 level to touch 1.0915 before stabilizing slightly but still maintaining an upward trend since Wednesday. This currency pair is currently in a corrective wave, however, a successful close above the resistance level at 1.089 and receiving support from the 1.085 area has opened up more opportunities for price increases for this currency pair, with an immediate target of 1.093 after completing the trend correction.
Long
by RKarina
1
BTCUSDT Trading Strategy for BTCUSDT: BTCUSDT continues to show notable stability, maintaining a high price above $66,000 this Thursday. In the short term, BTCUSDT is trending sideways, with significant resistance levels identified at $67,500 and $68,700. Clear support levels are marked, and the 34 and 89 EMA lines are displaying a strong upward trajectory in the near future. As long as the crucial support level of $60,000 remains intact, the bullish camp is prepared to maintain its advantage during this phase.
Long
by RKarina
USDPJY: Still under heavy downward pressure!Hello dear friends, what do you think about USDJPY? In contrast to its counterparts such as EURUSD and GBPUSD, USDJPY continues to bear the heavy pressure of depreciation, with prices weakening further on Thursday. Currently, this currency pair is trading at the level of 148.50, experiencing a loss of 0.56% for the day. This currency pair continues to face difficulties as the US Dollar weakens amid market expectations of a rate cut by the Federal Reserve in their June policy meeting, which is escalating. Looking at the prospects from a technical analysis perspective: This currency pair is on its way to find support at the level of 148.10, and prices may recover from this point. However, the recovery may not last long as the EMA 34 signal has started to reverse and USDJPY has broken through the strong support level at 149.700.
Short
by RKarina
1
XAUUSDWelcome back to a fresh discussion on the gold price for the upcoming week. In the past week, gold has witnessed an impressive surge, continuously climbing from $2035 to $2088 and maintaining a stable price around $2080 in the early hours of Monday. Looking ahead and building a strategy along with forecasts for this week: A survey involving 14 analysts revealed that none of them predict a decline in the gold price in the near future. Among them, 11 analysts, accounting for 79%, remain optimistic about the prospects of gold, while 3 analysts, making up 21%, hold a neutral stance towards this precious metal. Regarding today's gold price forecast: Gold has started to undergo a price correction and shows a slight downward trend under the pressure of profit-taking from investors, decreasing by 0.15% in a day. This price breakthrough may lead to gold being retested at key support levels, so investors need to exercise caution to avoid being swayed by the price.
OANDA:XAUUSD
by RKarina
EURUSD: Defending the 1.0800 support levelHello comrades, today the EURUSD trading session kicked off with little changes. The currency pair is still gradually increasing and trading below the 1.0850 level in the Asian trading session on Monday. The US dollar is regaining its footing as it trades in the opposite direction in the Asian market, creating a sense of caution. Investors are still concerned about an important week ahead, focusing on the ECB's interest rate decision and Powell's testimony. It is expected that this currency pair will continue to move sideways below the resistance level of 1.0856 before strong news impacts the trend as mentioned above. The support level of 1.080 continues to play a strong role for EURUSD during this time. Wishing you all a successful and enjoyable trading week!
by RKarina
GBPUSD: Is this week's trend up or down?RKarina sends greetings at the beginning of the week to everyone, wishing you all a smooth and exciting trading week. Currently, GBPUSD is maintaining a fairly stable price around 1.266, recording a 0.08% recovery during the day. The GBP/USD pair has formed a good recovery on Friday from the level of 1.2600, which has been a low point for a week and a half, and has attracted some positive momentum. In terms of trends, GBPUSD is still in a sideways state, but in the short and medium term, it seems that the buying side is holding strong with price increases after this currency pair tested the 34 and 89 EMA lines and continued to move up. My goal for this week is for GBPUSD to continue rising with two main targets, namely 1.270 and 1.276. What about you? Do you have a goal for an increase or decrease in price?
Long
by RKarina
Swing Trading Idea in ICICI PRU LIFESYMBOL - ICICIPRULI There is a flag & pole pattern on daily time frame in ICICI PRU LIFE. CMP is 520 I am taking long position in march futures here at CMP for 560-590 target. Stoploss would be 498. It is in good support zone & consolidated here. I think it is ready to blast. After breaking out above 530, It will move towards 560 & 590 very fast. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
NSE:ICICIPRULILong
by akshit_official
9
Long Position in Natural GasNatural Gas has broken important support zone of 160-165 this week & now trading at 135. Natural gas is approaching its next major support zone of 128-120 CMP is 135 & I'm opening long position in futures. I'll add more position if 125-126 comes. SL would be below 119 Targets I'm expecting are 158 and 167 which was support zone before & now a resistance. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
MCX:NATURALGAS1!Long
by akshit_official
6