GBP/USD: maintain good growth rateThe GBP/USD pair continues its upward momentum below the psychological barrier of 1.2700 in the early Asian trading session on Tuesday. The FOMC minutes indicated that the Fed has reaffirmed its data-dependent approach, leading to a more dovish outlook. This has weighed on the US Dollar (USD) and created a favorable environment for this currency pair.
At the time of writing, GBP/USD is trading at 1.2685, up 0.02% for the day. My expectation is that the price will continue to rise after finding support at the 34 and 89 EMA levels.
Longsetup
EURUSD: Uptrend continues above 1.0800Hello Traders! Today EURUSD continues to trade in an upward trend.
As long as EUR/USD trades above the 34.89 EMA Simple Moving Average, the outlook for the pair is likely to remain constructive.
Looking at the 4-hour chart, a slow return appears to have taken place so far. The next upside barrier is 1.0888, ahead of 1.0897 and 1.0932.
Gold price today February 27: Great leap forward?Dear beloved friends, yesterday's gold trading session was relatively calm with no significant fluctuations. At present, the price is still hovering around $2033 and maintaining support at $2025.
In the short and medium term, the upward momentum of gold is still highly regarded. From today's chart, the two main targets for buyers are $2037 and $2041.
Regarding predictions, the market is awaiting the release of the US Personal Consumption Expenditures (PCE) report. This crucial inflation data is expected to provide investors with further clues about the future direction of interest rates by the Federal Reserve. The report is scheduled to be released on Thursday, with a projected monthly increase of 0.4%. If the PCE data exceeds expectations, gold prices may decline. However, this precious metal is still expected to remain above $2000 per ounce.
BLISSGVS AnalysisThis amazing Pharma Stock has the potential of touch 150 very soon.
Yes, you read that right. This stock with improving fundamental can reach the target of 155 from CMP of 135.95 in a matter of a few weeks.
Here are the details-
CMP- 135.95
Target- 149, 155
Stoploss- 122.70
Duration- 3-4 Weeks.
From the past couple of days Pharma Sector along with Cement and Chemical Sector have been outperforming the benchmark indices.
Let me know what you think.
XAUUSDHello dear colleagues, what do you think the closing price of gold will be today?
Last night, the price of gold decreased despite the sharp decline in the US dollar. Normally, a weaker US dollar would support an increase in the price of gold. However, in the last session, it defied market norms with a decline in the USD due to forecasts showing durable goods orders in the US dropping from 0% in the previous month to -4.7% in January, and core durable goods orders falling from 0.6% to 0.2%.
Despite gloomy economic forecasts, the stock market remains surprisingly optimistic. Globally, US and Japanese stocks have been continuously setting new records at the beginning of this year. With a 7% increase since the end of 2023, money is shifting from traditional safe havens like gold to stocks, potentially setting the stage for a recovery in the price of gold.
IRB | Multiyear breakout📊 Details
IRB Infrastructure Developers Ltd is an infrastructure development and construction company in India with extensive experience in the roads and highways sector. It is also in other business segments in the infrastructure sector, including maintenance of roads, construction, airport development and real estate.
Disclaimer: This analysis is solely for educational purposes and does not make me a SEBI registered analyst.
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GBPUSD: stable daily recovery streakHello dear traders, today GBPSUSD continues its winning streak during the recovery process, with trading levels around 1.266 and remaining within an upward price channel with stability.
It is expected that the price will continue to recover after the correction phase and reach the lower limit of the ascending channel, while also testing the EMA 34 and 89.
XAUUSD: price increase but not sure yet!Hello traders, what do you think about GOLD?
The fear of risk has driven the demand for US government bonds, contributing to the prolonged weakness of US Treasury bond yields across the yield curve. The slight decrease in US Treasury bond yields helps limit the adjustment of Gold prices.
In the coming days, the momentum of the US Dollar and US Treasury bond yields, along with the risk sentiment, will impact Gold price action as traders consider the US New Home Sales data for trading cues.
Gold is supported and has been growing as it touches the bottom of a descending channel. It is expected to decrease back to the channel bottom after reaching the resistance zone.
XAUUSD: Breakout on last day of tradingDear friends, what are your thoughts on gold after a challenging week? Let's also strategize for the upcoming week.
Looking back at the recent period, the price of gold has mainly been fluctuating around the range of $2022 to $2028, despite some news affecting gold, but not significantly.
Until last Friday afternoon, gold experienced a significant volatility, with prices dropping straight to $2016 and then rebounding strongly to reach $2041. In the context of some officials from the Federal Reserve stating that they are not in a hurry to lower interest rates due to high inflation, financial investors are expecting a rate cut by the Fed in June 2024. As a result, the US dollar weakened against many other currencies, boosting today's gold prices.
Currently, the precious metal has stabilized at around $2035, making this weakness a corrective wave after breaking through $2033. It is expected that next week, gold will continue to decline further towards the range of $2031 and $2028, as indicated by Fibonacci before the price resumes its upward trend.
EURUSD: SELL?The EUR/USD pair is trading with a softer tone as the US dollar (USD) modestly rebounds in early Asian trading on Monday. The market will be paying attention to the US PCE inflation data for January this week, which could cause some volatility. At the time of writing, EUR/USD is trading at 1.0818, down 0.01% on the day.
With the possibility of forming a head and shoulders pattern and a bearish price, I expect that after the price receives support and increases to the specified level, it will decrease with the target specified on the chart.
What's changed in the gold price this week?Hello everyone, RKarina is delighted to meet you all again. Let's discuss our strategy for the new week for XAUUSD!
Currently, at the opening of the trading session, gold is moving quite steadily at around 2033 USD, with no change in direction compared to the last closing at 2035 USD.
In terms of prospects:
From a technical analysis perspective: the Bollinger Band indicates two notable levels to watch out for in the near future, with a peak at 2055 USD and a support level at 1990 USD.
In terms of market news: The European Central Bank maintaining its stance on interest rate cuts and a significant allocation of the Euro could put pressure on the USD. This will have a positive impact on the price of gold, as the interest rate adjustment period is coming to an end and gold could increase to 2050 USD by the end of the week.
What about you? What do you think will be the movement of gold? Will it continue to rise or fall?
EURUSD: End of blue translationHello dear readers, it's RKarina here again.
Currently, EURUSD has temporarily closed its trading activities and halted at the level of 1.081. It can be observed that the past week was a profitable trading week for buyers as the price was consistently supported and moved up from the newly established support level at 1.070.
As a result, the risk sentiment has improved, making it difficult for the USD to regain strength and thereby creating some foundation and support for EURUSD. RKarina expects that this currency pair will continue to increase in price in the near future, aiming for the level of 1.091 as indicated by Fibonacci as a corrective phase following the retreat from the first marked wave.
What are your thoughts on the future trend of EURUSD?
EURUSDHello everyone, today EURUSD has risen higher on Thursday, testing the highest bid price since early February before returning to the 1.0800 area after the European and US Purchasing Managers' Index (PMI) data came in slightly lower or contrary to expectations.
With the ability to create DOW from the chart using Fibonacci retracement levels, the upward movement will soon reach resistance levels at 1.0865 and 1.0918, followed by a rapid decline with an expected touch level of 1.618, which is 1.0418.
What about you, do you agree with me?
Wave -5 Breakout in Welspun Living..1. Wave 4 as per EW Theory seems to be in progress. The price actions seems ready to breakout for Wave 5 and a potential 35% upmove. Wave 4 has retraced almost 38% and rise in Volume in last few week shows that wave 5 is just about to begin.
2. Breakout from the rectangular box above 170 can potential take the price to 225-235 range i.e. ~ 35% up from here.
Current Market Price - 161. Stop LOSS LEVEL - 145.
* NOT A TRADE RECOMMENDATION. ONLY FOR EDUCATIONAL PURPOSE.*
GBPUSDHello everyone, it's RKarina here again. Overall, GBPUSD continues to trade in an upward trend. So, what factors are driving this upward momentum?
Today, the GBP/USD pair achieved modest gains above the 1.2600 level in the early Asian trading hours on Friday. The decline of the US Dollar provided some support for the major currency pair.
Currently, GBPUSD is operating near the resistance level of 1.2700, with dynamic support around 1.2680 before 1.2650-1.2660. However, to ensure the safety of your trades, we have recommended a significant support zone around this area, which also coincides with continuous price reaction. When reaching that entry point, we can prioritize buying with an expected increase of 1.3500 and 1.3800.
Apple - At Crucial LevelsIt is clear from the setup that the price is at the lower edge of the rising parallel channel. If bounces back from these levels, there may be a bullish phase.
Immediate support may be around 175. if sustains below 175, will be out of our setup.
This illustration is only my view, not a trading advice in any form. Please conduct your research before taking any trade.
All the best.
ASTRAL | BEAUTIFUL POLE + FLAG! | RR-1:3A strong pole & a flag consolidation is formed on Astral. Price hovering around the flag resistance indicates a breakout is highly probable. Price consolidating in All time High territory, so no resistance to the upside.
Disclaimer: This is NOT a trade recommendation but only my analysis. Please do your own research before trading.
Breakout Rally in Skipper LtdNSE:SKIPPER is expected to break past its resistance and may rally up to 20% in the near future.
Technical Reason - NSE:SKIPPER had been on a downtrend in the first half of December before resuming its upward movement from 22nd December. NSE:SKIPPER has been on an uptrend ever since breaking out from its downtrend channel. NSE:SKIPPER has always encountered resistance at 260, however this time, a big green Marbozu has formed and closed above its resistance which shows that bulls plan to take this stock to higher levels. The MACD indicator also indicates that bulls are in control and it is the right time to go long on $NSE:SKIPPER.
Fundamental Reason - NSE:SKIPPER is trading at a PE of 39, which seems reasonable due to the current market conditions and as the company is a high growth company. It's revenue and net profit are on course to jump by at least 40%. It also has high positive cash flow and sufficient free cash to cover its liabilities. It has also achieved high levels of profitability.
Trade setup - You may enter buy at 260 and set a stoploss at 210. You may exit when the stock reaches 320.
EUR/GBP Long TradeAfter Marking up my charts on the Daily Time Frame I realized that Price was at the bottom of a channel at 0.85209. Price then consolidated and retraced to a Stronger Daily Supply Zone. MACD was showing strong a Divergence directly at the channel. Once i seen Momentum in the upward direction I waited for Price to Cross the 20 EMA. Entered and set the Stop Loss at 0.84971.