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Hot market for gold sellersDear friends, Crude oil prices are forecasted to potentially increase to $150 per barrel. Global inflation is likely to rise to 6.7% in 2024. Instability can quickly push up the price of gold. However, in the short term, gold is facing pressure from a strengthening US dollar. At the time of writing, Gold is trading below the $2000 mark, currently trading around $1991. It is expected that Gold will rise to $2000 in the near future due to the stability of the trend on the 1-hour timeframe. The short-term target for investors selling gold would be the support level at $1985, after which the upward trend will continue. What about you? Do you agree with me?
OANDA:XAUUSDShort
by Samson-FX
Latest gold market update todayDear readers, The market's attention is currently focused on the upcoming release of the Personal Consumption Expenditures (PCE) index, which is expected to be published on Friday. The data is anticipated to provide further clues about the Federal Reserve's policy meeting next week. Regarding the outlook analysis: Gold, a safe-haven asset used to hedge against political and economic uncertainties, will lose its attractiveness if interest rates rise. The upward price trend is being reinforced more strongly than ever. At the time of writing, the price of gold is trading at $1987. In this weekend's trading session, the psychological level of $2000 will likely hold steady. As for today's trading session, gold is expected to remain relatively calm.
OANDA:XAUUSD
by Samson-FX
1
Gold will definitely exceed $ 2000Dear esteemed comrades, At the conclusion of yesterday's trading session, gold has gained a dominant position in terms of price increase. As of the time of writing this piece, gold is trading below the $2000 mark. In the current context of gold: - Amidst ongoing tensions in the Middle East, concerns about political instability are expected to persist in the short term, providing continued support for gold. - The market anticipates that the Federal Reserve will maintain interest rates at its upcoming policy meeting next month. If data suggests a slowdown, the Fed will have additional reasons to refrain from raising rates, which will greatly support gold and push prices back above $2000. Regarding technical analysis: - The upward trend is strongly reinforced on the daily timeframe. However, the $2000 level is considered a psychological barrier for buyers at the moment. In my opinion, a corrective phase with a testing nature is likely to be closely observed here. Nonetheless, I remain optimistic and maintain my view of emphasizing the continuation of the upward trend in the gold market at this time.
OANDA:XAUUSDLong
by Samson-FX
UJ tests support againDear friends, As predicted by Samson, the upward momentum is still being strengthened and is currently trading at a high level of 150.39 today. USD/JPY is preparing for a decisive breakthrough above the psychological resistance level of 150.00. This asset seems strong as the US Dollar Index (DXY) continues to rise following S&P Global's report of increased business activity in October. Samson emphasizes that UJ is expected to continue rising, but it is necessary to reassess the support level of 140.82, which coincides with the previous uptrend channel, in order to officially establish the continuation of the upward trend. Along with the stability on the weekly timeframe, Samson is optimistic about breaking out of the high level of 151.81.
Long
by Samson-FX
26th Oct ’23 - Nifty hits the jackpot of 18880 - PostMortemNifty Weekly Expiry Analysis Nifty fell a whopping 765pts ~ 3.90% between the last expiry and today. Most importantly it has retraced all its gains from 28th June to close below 18880. We will cover why that is relevant below, but this fall of 4% signals a reversal in trend. Even though VIX is still below 12%, it is showing a tendency to spike, reassuring the bearish sentiment. Nifty Today’s Analysis Recap from yesterday: “On the daily timeframe, the next possible candle that should appear should have its low touching the 18880 level (best case). If Nifty manages to pull this out, it will be an awesome November and December month getting lined up for the Bears. Since Nifty went up from 18880 to 19310 as 3 white soldiers, the return should be nothing less than 3 black crows.” Nifty50 was quite benevolent today, we set a target of 18880 and Nifty hit that by 10.55. That’s a first - 99 out of 100 days the strategy we set for days like these ends up worthless. A day like today will ensure that 1 day is good enough for the options to go deep in the money. We had a gap down open of -86pts ~ 0.45% and from there we fell another 193pts ~ 1.02%. The final close was at 18857. The chart may not paint the severity of the move since its on a logarithmic scale - but trust me, the pain was much more. Except for AXIS, ITC and HCLTECH - the cuts were pretty steep for everything else. On the 1hr chart, the intensity of the first candle is quite obvious. We took out 211 ~1.11% in the first hour itself. The remainder of the day was more or less sideways with a slight bearish intent. On the daily TF, notice the orange color encircled regions. You can quickly relate what 3 white soldiers and 3 black crows are. Today’s closing ensures we retouched the new ATH set on 01 Dec 2022 & 19 Jun 2023. Further price action should be interesting as the global macros keep on deteriorating. For tomorrow, I wish to maintain my bearish stance and expect Nifty to trade between 18880 and 18762. If we break 18762, my next target would be 18597.
NSE:NIFTYShort
by viswaram
EURUSD lost the declineDear friends, Let's explore the market with Samson today! Moving away from the upward trend, the EUR has lost momentum in today's trading session. This is due to the strength of the US dollar. Attention has now shifted to the meeting of the European Central Bank (ECB) and economic data from the United States. In terms of technical analysis: The price is currently testing support at 1.0531 with the potential to touch resistance at 1.0569. However, a rejection is expected to occur here, leading to a decrease to 1.0461. My immediate target is the formation of a DOW pattern. What about you? Do you agree with my analysis?
Short
by Samson-FX
EUR is strongly recoveredDear valued readers! The EUR currency market has experienced a decline on Tuesday, giving up all the gains from Monday, following stronger-than-expected US PMI data and continued challenging growth prospects in Europe. At the time of writing, EURUSD is trading at 1.058. Another note, the prospect of reduced inflation and impending recession ensures that the European Central Bank (ECB) will maintain its current stance on Thursday. The German IFO survey, scheduled for Wednesday, will shed light on the challenges ahead. From a technical standpoint: Prices have rebounded thanks to strong support at the 1.053 level, although the overall trend remains bearish for an extended period. However, there is still potential for price increases. The current target is to develop near the resistance level at 1.070.
Long
by Samson-FX
BTCUSDT killed the bear, the market was hotDear friends, After experiencing a brief correction from its all-time high of $35,300, Bitcoin (BTC), the leading cryptocurrency in the market, is showing signs of a new upward trend. At the time of writing, Bitcoin is trading at $34,500, successfully recovering the losses incurred during the recent correction on Tuesday. Over the past 24 hours, Bitcoin has maintained a 1.4% increase. Another encouraging sign for Bitcoin's prospects is the open interest in call options, which recently surpassed $10 billion. To put it into perspective, during the peak of the 2021 price rally, open interest in call options reached $9.9 billion. This significant milestone indicates that market participants are increasingly positioning themselves for Bitcoin's potential price increase. The growing number of call options suggests optimistic sentiment among traders and further raises expectations of price growth. Considering these factors, it would not be surprising if this upward trend reaches $40,020 in the near future. What about you? Do you agree with my viewpoint?
Long
by Samson-FX
2
GOLD ranging marketDear friends, Gold is trading relatively quietly as profit-taking pressure sets in after a recent strong rally. Investors are taking profits as the US dollar shows signs of strengthening. At the time of writing, the price is trading around $1971 - $1972. Regarding the outlook for gold this week: We need to pay attention to the US GDP report for the third quarter, which will be released on Thursday (26th October). The personal consumption expenditure (PCE) index will be announced on Friday (27th October), along with other economic reports, especially speeches by European Central Bank President Lagarde and Federal Reserve Chair Jerome Powell. Due to these reasons, gold sellers continue to push the price down, with an expected decrease to $1945 before the upward trend is established again. What are your thoughts on this?
OANDA:XAUUSDLong
by Samson-FX
25th Oct ’23 - When will the 18880 level get broken? Nifty50Nifty Analysis Recap from yesterday: “Since we are back at the 19310 levels, my point is — the next fall may be as deep as 18880 i.e 430pts ~ 2%. Nifty has no experience trading between these 2 zones earlier, so the supports should be equally powerless. I can mark the top of the candles as support zones, but they would be predictably weak (19190 & 18969).” Nifty did not disappoint the Bears today. The start was right at the 19310 level and we managed to stay around that zone till 10.40. Honestly, I was also fearful that my bearish call may not work out today. For the last 1 to 2 years, Nifty has shown unbelievable resilience that will suck the soul out of any bear. Luckily, the fall started to accelerate once we broke from the 19310 laxman rekha i.e after 10.45. We fell to a new swing low of 19074 intraday, levels last seen as of 30th June 2023. The bounce of 104pts was healthy and gave the bears quite a good premium to enter the 2nd level of shorts. On the daily timeframe, the next possible candle that should appear should have its low touching the 18880 level (best case). If Nifty manages to pull this out, it will be an awesome November and December month getting lined up for the Bears. Since Nifty went up from 18880 to 19310 as 3 white soldiers, the return should be nothing less than 3 black crows. If we get that tomorrow - we are in for a treat, because the entire price action above 19310 right up to 20222 will lose its relevance. I wish to maintain my bearish stance for tomorrow’s expiry and hope to collect some good premiums. A noticeable change we saw today was the spike of India VIX to 12 levels. Although we cooled off and closed at 11.3125, the future holds promise.
NSE:NIFTYShort
by viswaram
Gold price is falling, target 2000 USD is difficult to targetDear friends, Gold is entering a phase of decline as the upward momentum weakens and the $2000 threshold remains unattainable. Trading is currently experiencing a slight decrease on the 1-hour timeframe, reaching a trading level of $1973. The inability of gold to recover this week signals a weakening of "safe haven demand," suggesting that the market is learning to live with the tensions in the Middle East. Additionally, the strengthening of the US dollar has made gold more expensive for foreign buyers, significantly reducing purchasing power. Although a price increase occurred, it was immediately rejected at the resistance level. The target for this downward trend is set at $1960 and $1950, indicating a continuation of the price decline.
OANDA:XAUUSDShort
by Samson-FX
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NSE:BANKNIFTY
by Optionclub
'Staying head' when tensions escalateHello everyone! Wrapping up this week's trading session, Gold reached the predicted level of $1980. Regarding the analysis of this week's news: In his speech, Federal Reserve Chairman Jerome Powell stated that inflation in the US remains too high and economic growth is slower than necessary to reduce inflation. The comments from the Fed Chairman raised hopes in the market that the central bank may pause interest rate hikes. This suggests that there are significant risks to the prospects of the economy, thereby supporting the price of gold. Regarding technical analysis: The 4-hour chart shows that Gold is consolidating around the $1980 level, which was previously expected. This could be a Gold pullback, but the market seems to lean towards the selling side as the candle ends with a bearish tone. Therefore, according to Samson, in the coming week, Gold may retest the support level at $1970 or even lower at $1950 before continuing its upward trend towards the expected target of $2022.
OANDA:XAUUSDLong
by Samson-FX
EURUSD increased but the risk was intactDear friends, Yesterday, EUR increased by 0.71% and closed at its highest level in over a month. This price increase is accompanied by strong upward momentum and the continued strength of EUR is evident today. However, any increase may encounter strong resistance at the level of 1.0700. The main resistance level at 1.0740 is unlikely to be threatened. To maintain this upward trend, EUR must stay above the level of 1.0625 (with minor support at 1.0645). In the next 1-3 weeks: Yesterday, EUR increased by 0.71% (1.0668) and closed at its highest level in about a month. The price action appears to be part of a potential extended recovery above the 1.0700 level. At this stage, it is still too early to determine whether EUR has enough momentum to reach the key level of 1.0740 or not. The possibility of further recovery remains as long as EUR stays above 1.0600 in the coming days. What are your thoughts on EURUSD?
by Samson-FX
Latest GBPUSD update todayDear readers, At the time of writing, GBPUSD is trading below the 1.2300 level. This currency pair is benefiting from the widespread depreciation of the US dollar and positive changes in risk sentiment. The UK's employment data is not moving the needle on the British pound. PMI is being closely watched. At this stage, the likelihood of GBP breaking clearly above this level is low. On the other hand, if GBP breaks the strong support level at 1.2165, it would mean that it will be difficult for it to rise to 1.2340. Best regards,
by Samson-FX
Update Gold at the beginning of the new weekDear friends, The situation in the Middle East seems to be far from finding a peaceful solution, and this can potentially sustain the upward trend in the price of gold, despite higher interest rates from the Treasury bond. Therefore, gold has become a new breeze for investors as it becomes increasingly attractive amidst prolonged conflicts and political tensions. Regarding expectations: This week, several important news about gold will take place from October 25th to 27th, with the most significant being the speech by the Fed Chairman on October 25th. Currently, the gold market is trading around the $1980 - $1981 range, and based on this possibility, the downward momentum could target the support level of $1945. After that, the upward trend will be established once again.
OANDA:XAUUSD
by Samson-FX
Gold continued to boom stronglyDear friends, Gold achieved an impressive figure last week, but it has experienced a slight decline at the beginning of this week's trading session. At the time of writing, gold is trading at $1971. Regarding market information: The ongoing tension in the Middle East has not yet ceased, making gold an attractive option for investors looking to preserve their capital amidst chaotic market conditions. Regarding technical analysis: It can be observed that Gold is gradually resembling the DOW pattern, with a potential decline to $1947, followed by a continuation of the upward trend expected to reach $2000, which gold has not yet reached. What are your thoughts on this? Do you agree with me?
OANDA:XAUUSD
by Samson-FX
EURUSD increased sharply in the new weekHello friends Currently, the upward trend that started last week is still going strong. At the time of writing, EURUSD is trading at 1.057 with no signs of breaking out of the trend. It is expected that the price will continue to maintain the upward trend, fluctuating between 1.055 (the lower limit of the rising price channel) and 1.062 (the upper limit of the rising price channel). As long as there is no breakout from the current trend, the upward momentum will remain stable.
by Samson-FX
BTC expands the trend of strong increaseDear friends, BTC continues to rise as predicted. However, the market today is relatively stable as investors await news regarding the fate of the registration with the U.S. Securities and Exchange Commission (SEC) for a bitcoin exchange-traded fund (ETF) by major financial companies including BlackRock. At the time of writing, it is trading at $29,550. Regarding technical analysis: The market seems to have been rejected after touching the uptrend channel, and this price decline may retest the $28,270 level in the near future. However, this is just my speculation. On the other hand, if BTCUSD closes above the high level or consolidates around the current trading range, it could once again make me believe that BTC may continue to rise strongly with an expected increase to $31,000. What are your thoughts on BTC as it expands its upward trend in the future?
BITSTAMP:BTCUSDLong
by Samson-FX
Gold continues to promise a new peak on high price!Dear friends! Currently, Gold is trading around the price of $1980. It can be seen that after the Fed chairman's speech yesterday, gold did not have a strong reaction but still developed with the highest impressive number in the past two weeks since October 6th. Although the Fed is still committed to its inflation target, experts still believe that increasing political instability can quickly push the price of gold higher. Since the conflict in the Middle East began, the demand for safe haven assets has helped gold rise by nearly $120. The breakout of gold above $1960 is a positive signal for gold, especially when the situation in the Middle East shows no signs of cooling down. It is expected that gold will retest the $1960/ounce level, which will help this precious metal easily surpass levels within the range of $1985 - $1995/ounce.
OANDA:XAUUSD
by Samson-FX
2