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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
Gold price today: Will the upward momentum continue?The price of gold (XAU/USD) has taken advantage of its recent upward momentum and reached a new record high around $2,152 on Wednesday. This price increase comes amidst expectations of an upcoming change in the Federal Reserve's policy. Comments from Fed Chair Jerome Powell have reinforced these expectations, indicating that the central bank is likely to lower the benchmark interest rate by the end of this year. However, Fed Minneapolis President Neel Kashkari has tempered speculation of a more aggressive policy easing, providing some support for the US Dollar (USD) and preventing it from dropping to its lowest level since February. As a result, this has limited further gains for gold, especially when considering the excessive price increase on the daily chart. At the same time, any significant adjustments in the price of gold seem unlikely due to the current geopolitical tensions. Furthermore, concerns about China's economic slowdown, as the world's second-largest economy, may continue to support this precious metal. Additionally, investors may exercise caution ahead of Powell's second testimony before the Senate Banking Committee and the release of monthly employment data in the United States.
OANDA:XAUUSDLong
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
05 Mar ’24 — BankNifty Algos gave 50% profit in opening hour!BankNifty Analysis - Stance Bullish ⬆️ BankNifty gets a status change today to bullish. Look at the 12.47 candle that took out the resistance of 47465. Even the next candle formed was strongly bullish. We are now at a stage where BankNifty is strongly bullish and Nifty is showing some weakness due to the tech sector. If Nifty starts falling, there is no way BankNifty can remain in green, although it has happened many times in the past. Over the last many months, the IT sector has gained more weightage on Nifty50, I started noticing this after the inclusion of LTIM in the index. 4mts chart On the higher timeframe, BankNifty managed to get 2 63mts candles above the resistance line. Our stance change came right after the 12.24 candle as the signs were pretty clear. On a normal day, a resistance break usually signifies a much more powerful breakout rally. We are quite not sure whether we will get that tomorrow as US markets are trading in deep RED. If BN falls below 47465 or opens gap-down below this support level we will revert to a neutral stance. And since it is the weekly expiry tomorrow - we expect the premiums to pick up if that happens. As it stands the premiums of the OTM are not good enough for some serious speculation. 63mts chart – Algo Trading Our algo trades ended today with a gain of 17997 rupees. Again pulled the plug early today i.e. at 10.24. As per my backtests the max possible gain intraday is Rs36000 and since we hit 50% of that in the opening hour - decided to exit prematurely.
NSE:BANKNIFTYLong
by viswaram
04 Mar ’24 — BankNifty still has to overcome the 47465 resistancBankNifty Analysis - Stance Neutral ➡️ BankNifty is still stuck at the 47465 resistance level and this according to me was the primary reason why even Nifty could not find the upward thrust. There were 4 specific instances when BN tried to break the resistance and move up but all of them got rejected. This does not really mean that the Bulls are tired or out of steam, it is just that they are unable to win the hand. 4mts chart By this time, we all know what is going to happen next - A gap-up above the resistance line and then boom-boom. The gap-up will change the dynamics in the Bull’s favor and the short covering will give it a bit more thrust. The moment that happens, we will be able to change the stance from neutral to bullish. This would also mean Nifty50 would be scaling new heights. What is totally unpredictable is NiftyIT, playing hard to get. Seems like the fight to be the Nifty’s torch bearer is happening between IT and Banks. 63mts chart Algo Trading Our algo trades ended today with a gain of 27037. We manually closed the day @ 11.15 as the MTM felt decent enough for the 2hrs of trade. We will only get to know if it was the right decision or not when we run the backtest. I am a registered financial advisor & would be happy to assist with your queries or doubts. If privacy is required, you can DM me too.
NSE:BANKNIFTY
by viswaram
Gold price increased dramatically at the end of the week!Hello dear friends, let's review the gold prices of the past week and discuss new strategies for the upcoming week with Kevin! During the beginning of the week, gold prices remained relatively stable, mainly moving sideways around the $2030 mark with a resistance level at $2035. However, in the last two days of the week, gold gained strong buying momentum and broke through some significant resistance levels, continuously rising from $2025 to $2088 and currently pausing at $2082. The international financial market has received economic updates from major economies such as the United States, Europe, and China. As a result, investors have been actively buying precious metals to protect their capital, pushing gold prices to the highest level in months. Looking ahead to the next week's strategy: Based on chart analysis, gold has surpassed the $2065 resistance level and is approaching $2090, but it is encountering some limitations as indicated on the chart. It is expected to experience a slight retreat as the new trading week begins, with a projected range of 0.5 - 0.618 Fibonacci retracement (which means testing the new support area around $2065 and testing the 34 and 89 EMA lines as the price has gone too far). Wishing you all successful and enjoyable trading!
OANDA:XAUUSD
by RKarina
EURUSD: Critical support level 1,080 remains strong!Hello everyone, let's discuss the new weekly strategy for EURUSD with RKarina! Yesterday, EURUSD continued to maintain a fairly stable trading level around the psychological threshold of 1.080. The currency pair received support once again from the 1.080 level, as it bounced back after touching this threshold. It seems that the buyers are still making efforts to protect this support level and demonstrating their notable strength. Currently, EURUSD has temporarily paused trading at 1.083 and is approaching a nearby resistance level. There is a high possibility of an increase in price as long as the 1.080 support level remains intact.
Long
by RKarina
EURUSD: Pay attention to defending 1.0800Hello dear friends, it's RKarina here again! What do you think about the next trend for this currency pair? EUR/USD remains stable, hovering around the 1.0850 level, especially after Tuesday's trading session, which saw minimal momentum for this currency pair due to a larger-than-expected drop in durable goods orders in the US for January. Now, all attention is focused on the upcoming release of US Gross Domestic Product (GDP) data on Wednesday. From the chart: EURUSD is currently in a corrective phase, facing downward pressure from sellers as it approaches the resistance level at 1.0888. The current support level is set at 1.079, with a notable possibility of price recovery in this area. Within the range of 0.5 - 0.618, buyers are closely monitoring this zone for opportunities to maneuver and compete in this currency pair.
Long
by RKarina
Gold price on the weekend of trading weekend!Hello everyone, let's strategize for the new day with RKarina! It can be observed that yesterday afternoon, the price of gold increased significantly, surpassing the important resistance level at 2035 USD and approaching the level of 2050 USD before stabilizing around the 2045 USD range in the first half of today. In line with this, the core PCE of the United States decreased from 2.9% to 2.8% compared to the same period last year. The annual overall inflation rate also decreased sharply from 2.6% to 2.4%, in line with expectations. This data confirms that the process of inflation reduction continues, causing a decrease in US Treasury bond yields. As a result, financial investors are shifting their capital from bonds to precious metals. The price of gold in the world today has the momentum to continue rising.
OANDA:XAUUSDLong
by RKarina
GBPUSD: The risk of a price drop lurksThe GBP/USD exchange rate is hovering around 1.2680 on Wednesday as markets seek new impetus from the Federal Reserve (Fed) as investors gradually shy away from high-interest rate cut bets. Data on US Gross Domestic Product (GDP) inflation and Personal Consumption Expenditures (PCE) Price Index will be released this week. Data from the United Kingdom remains sparse this week, with the market focusing on important figures to update expectations of interest rate cuts by the Fed. As a result, GBPUSD is struggling to rise, with both short-term and medium-term corrections indicating a downward trend. The currency pair has already broken below the support level of 1.267. In the event that the next support level at 1.265 is breached, the possibility of a decline below 1.262 is entirely plausible as there will be no significant support points to prop up GBPUSD.
Short
by RKarina
USDJPY: SELL OR BUY?Hello dear friends! Today, USDJPY continues to be limited below the resistance level of 150.750 in the early trading hours of the new week. This currency pair is declining due to the decrease in US Treasury bond yields, amid cautiousness and concerns about inflation data in the United States. However, the recent appreciation of the US dollar may limit the downside of USD/JPY as long as the support level of 149.700 is well maintained, thus the possibility of a recovery for USDJPY is still considered high.
by RKarina
EURUSD - Stable trading above the psychological level of 1,080Hello everyone, let's discuss EURUSD today with RKarina! Currently, the EURUSD currency pair is trading quite calmly and there haven't been many price changes, with trading levels around 1.083 USD from the beginning of the week until now. Looking at the prospects from today's short-term analysis chart: This currency pair has experienced a pullback above the 0.5 - 0.618 Fibonacci level, indicating that the selling side seems to have an advantage during this period. However, it is still operating weakly as the price continues to hover and align with the two EMA lines, namely the 34 and 89. If everything goes well and meets expectations, after a slight sideways movement, this currency pair will aim for the next target at the resistance level of 1.086. Let's wait and see the results!
Long
by RKarina
Xauusd todayHey everyone, let's delve into the current gold prices! During the previous trading session, the price of gold remained steady, ranging from $2022 to $2025. Investors are eagerly awaiting fresh economic data from the United States in order to assess the future direction of interest rates as determined by the Federal Reserve (Fed). At the moment, gold finds itself in a temporary stalemate, torn between expectations regarding interest rates and the demand for a safe haven amidst geopolitical tensions. The latest minutes from the Fed's policy meeting have revealed a general concern among policymakers regarding the risks associated with premature interest rate cuts, which has exerted significant pressure on gold. In my opinion, there is a possibility that gold prices could rise to a range of $2040 - $2042 before experiencing a correction if it reaches the limit of its downward trend.
OANDA:XAUUSDShort
by RKarina
2