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GBPUSD: Price channel not broken yet!The GBP/USD has risen above the 1.2700 level, recovering from a two-week low below 1.2670 on Tuesday. Investors are cautious about taking significant positions ahead of the policy meetings of the Fed and BoE, causing this currency pair to struggle to find a clear direction. Furthermore, the widespread strength of the US dollar (USD) continues to weigh on this currency pair ahead of the policy decisions of the Federal Reserve (Fed) and the Bank of England (BoE). With the yield on the 10-year US Treasury bond holding above 4.3% after rising over 5% last week, support for the USD remains strong. As GBP/USD is still trending downwards, further price declines may be imminent!
Short
by RKarina
GOLD- Continuously creating breakthroughs!Hello dear friends, Are you curious about the price movement of gold today? Yesterday, gold surprised us with a dramatic increase, jumping from 2155 to 2223 USD, a remarkable gain of 680 pips in just a moment. What could have driven such a strong surge in this precious metal? News update: The announcement from the Fed about the possibility of interest rate cuts later this year caused the US dollar to plummet. This decline triggered a rush of gold buying from investors, pushing its price up. Technical analysis: Contrary to expectations of a decrease in gold prices for the day, gold broke through the downward trend line and soared to new highs. The EMA 34 and 89 lines indicated the potential for further upward momentum. The Fibonacci retracement levels of 0.5 - 0.618 are currently important if gold undergoes a corrective phase before continuing its ascent.
OANDA:XAUUSD
by RKarina
Gold price suddenly dropped todayIn today's trading session, gold experienced a slight decline after surging past the $2200 USD/ounce ceiling. This upward momentum was further fueled by comments from Federal Reserve Chairman Jerome Powell, who stated that the central bank plans to implement three interest rate cuts in 2024. However, at present, gold has adjusted downwards by 0.3% to $2175 USD/ounce after reaching an all-time high of $2222.39 USD in the previous session. Contributing to the correction in gold prices, the US Dollar has recovered by 0.8% after hitting its lowest level in a week, making gold more expensive for international buyers. With these developments, gold may need to undergo further adjustments if it wishes to continue its upward trajectory.
OANDA:XAUUSDShort
by RKarina
USDJPY : Gentle adjustment!What are your opinions on the USDJPY currency pair? The value of USD/JPY has surged to its highest level in several years, reaching 151.000 as the Japanese yen weakens and the US dollar strengthens. This turnaround at such levels is believed to be a result of possible intervention by the Bank of Japan (BoJ). According to MUFG analysts, a yen weaker than 150.000 becomes uncomfortably weak for the BoJ, which could prompt intervention by using its foreign currency reserves to purchase yen. There is still potential for USDJPY to continue rising, with the possibility of "breaking through the peak of 151.75 if the support around 150.500 remains firmly defended."
Long
by RKarina
4
EURUSD: On the reboundHello dear friends, let's discuss and plan our strategy for the new day with RKrina! EUR/USD has successfully surpassed the important barrier of 1.0900, driven by significant downward pressure on the US Dollar following the Federal Reserve's decision to maintain interest rates and indications of potential rate cuts three times this year. The 4-hour chart suggests that the current downward momentum may have exhausted. This indicates that the next upward barriers could be at 1.0921, followed by 1.0963 and 1.0998. The initial support level is at 1.0834, with further supports at 1.0830 and 1.0761.
Long
by RKarina
USDJPY: still rising strongly!Hello everyone, are you curious about the upcoming trend of USDJPY? USD/JPY hit a year-to-date high near 151.50 early Wednesday, as the Japanese yen fell to a multi-month low following the BoJ's mild interest rate hike on Tuesday. Fed hawkish expectations will strengthen the dollar and further support USD/JPY. If the pair is breached and successfully clears above the record high of 151.889, the bulls will have more opportunities to push the price to the first level of ignorance at the 1.618 mark of the Fibonacci extension in the theory of DOW theory
Long
by RKarina
GOLD- What changes this weekend, surveyToday's Gold Trading Strategy: In the current global market, the price of gold has surged to a new all-time high of $2,197 per ounce, representing a significant increase of $40 per ounce since the early morning hours. This marks a new milestone as the highest price ever recorded. The rapid ascent in gold prices is a result of the Federal Reserve's decision to maintain stable interest rates during its most recent meeting, coupled with indications of a potential 0.75% rate reduction by the end of 2024. The decrease in the US Dollar Index following the Federal Reserve's announcement has made gold even more appealing to international buyers. Additionally, the decrease in 10-year Treasury yields has lowered the opportunity cost associated with holding gold, further propelling its upward trend.
OANDA:XAUUSDLong
by RKarina
GBPUSD: Bounces back after a series of losses?The GBP/USD pair gained momentum in the early hours of Thursday's Asian trading session. This increase was driven by the weakening of the US dollar following Federal Reserve Chairman Powell's cautious press conference. Additionally, the 1.2760 level, representing the 0.618 Fibonacci retracement of the latest uptrend, is currently seen as the initial support level reinforcing the pair's upward progress. There is a possibility of immediate breakthrough of the resistance level at 1.281, with the goal of reaching the peak at 1.289.
Long
by RKarina
USDJPY: New support support!Hello everyone, today USDJPY continues its recovery streak and is fluctuating around the 147.65 level after receiving some price-boosting momentum from yesterday evening when the USD rebounded and started to recover. The currency pair has formed a new support level around the 146.75 region. The Japanese Yen (JPY) has struggled to capitalize on modest gains during the day and has declined for the third consecutive day. Therefore, given this situation, we can still expect further price increases for USDJPY. The two main targets as well as the resistance levels that this currency pair needs to overcome in order to continue its upward movement are 148.65 and 149.35 respectively.
Long
by RKarina
EURUSD : Are there additional discounts?Hello, beloved friends! Let's together explore the heartbeat of the EURUSD market today! In this calm trading session on Wednesday, EURUSD remains at 1.086, reflecting the closing level from yesterday. The strength of the US dollar continues to challenge riskier assets, bolstering the US Dollar Index (DXY) and impacting the slight decline of EUR/USD. From a technical standpoint, the 1.080 level is crucial for sellers as it could signify a deeper correction or a point of recovery for EURUSD after its recent decline. What is your perspective? Will EURUSD rise or fall in the short term?
Short
by RKarina
Gold price should I buy or sell?Welcome, dear friends, to our exploration of the tranquil waters of the gold market yesterday, where prices gently oscillated around Friday's closing figure of approximately $2159, in a serene anticipation of significant news expected to break on Thursday. Gold remains ensconced in its downward trend, encased within an unbroken parallel channel that signals the potential for further decline upon reaching the channel's upper boundary. Amongst whispers, the persistent pressure on this precious metal continues, stemming from expectations that the Fed might maintain higher interest rates for an extended period. Should the support level at $2147 give way, we might witness gold gracefully gliding back into the $212x region.
OANDA:XAUUSDShort
by RKarina
GOLD - Downward pressure on prices remainsThe price of gold today (20/3) slightly declined compared to the previous session following new economic data from the United States last night. Meanwhile, the US dollar continues to strengthen in the international payment basket. At the same time, the Federal Reserve of the United States (Fed) convened its first meeting in March, which will last for two days. The market is on edge regarding the possibility of interest rate cuts by this organization. However, last week's inflation figures showed that despite high interest rates, inflation has not decreased as expected. This has led experts and investors to believe that the Fed is unlikely to cut interest rates in this session. Furthermore, the significant increase in the number of new homes started in February is predicted to boost consumer demand for goods. This could contribute to an increase in the consumer price index in the future. With the difficulty for the Fed to cut interest rates, the USD may become even stronger, putting additional pressure on gold prices.
OANDA:XAUUSDShort
by RKarina