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USDJPY: Target at 155,500USD/JPY is experiencing a slight decline, trading around 154.65 in the early hours of Wednesday's Asian trading session. The strong US economy and inflationary challenges have sparked speculation that the Federal Reserve may postpone the start of its tapering cycle to September instead of June, providing support for the US dollar. From a technical perspective, the recent breakthrough of the key resistance level near 152.00 and the subsequent upward trend is seen as a new opportunity for trend-following traders. Following that are overnight fluctuations around the 153.00 level. Any significant decline below 154.00 could attract new buyers, potentially targeting the next area around 155.50.
Long
by RKarina
The Bull side is stronger?Hello everyone, are you curious about the current trend of EURUSD? Today, EUR/USD has risen to nearly 1.0650, recovering from its five-month low of 1.0622 reached last Friday. The US dollar has strengthened due to increased buying pressure in the midst of political instability, which has put downward pressure on this currency pair. The support level of 1.070 has been breached and no longer holds for this currency pair. The downtrend seems favorable as the price continues to move within a downward channel with no signs threatening this trend. After a short period of adjustment, EURUSD is expected to retest a lower level around 1.053, following the current trend. What do you think? Will EURUSD continue to decline?
Short
by RKarina
1
EUR/USD extends decline below 1.0630EUR/USD continues to decline, nearing the 1.0620 level and moving away from the year's low of 1.0600 recorded at the beginning of Wednesday's Asian trading session. However, hawkish comments from Federal Reserve officials and the flow towards safe-haven assets could strengthen the US dollar and limit any short-term benefits for this currency pair. Nevertheless, attention should still be paid to the Fibonacci retracement levels of 0.5 - 0.618, as EUR/USD may correct towards this zone after the recent sharp decline and show signs of price consolidation.
Long
by RKarina
Gold prices continue to trade high!Dear investors, We are currently at an important turning point, faced with the choice between reinvesting in gold - an investment that has eternal appeal, or going in another direction, exploring new opportunities. Yesterday, gold experienced strong fluctuations, when the price fell below 2,325 USD/ounce. However, as if it were participating in a detective movie, gold quickly recovered and reached a new high of 2,383 USD/ounce, moving closer to the historical record. Confidence in gold has not diminished, as the need to find a safe haven is increasing due to political instability in the Middle East. Gold's price boom this week was also fueled by the strength of the dollar and US Treasury bond yields, after economic reports showed retail sales in the US in March outperformed expected, raising concerns that the Federal Reserve (Fed) may be hesitant to change its monetary policy. The combination of geopolitical uncertainty and the prospect of a more accommodative monetary policy from the Fed in the second half of this year has added to gold's appeal as a safe-haven investment, making it the more attractive in the eyes of financial investors. Let's consider our investment strategy to make the most of current opportunities in this volatile market context.
OANDA:XAUUSDLong
by RKarina
Update the latest gold price today!Gold prices moved in a narrow range on Tuesday, holding steady near a record high. The ongoing crisis in the Middle East continues to influence investor sentiment, increasing interest in the precious metal. Even though the US dollar is strengthening, gold is still showing resilience as US Treasury yields fall from multi-month highs. Reducing geopolitical tensions between Israel and Iran has also failed to reduce demand for gold, as people predict prices will continue to rise. If this buying trend sustains, immediate resistance could reach $2,400 and potentially retest the all-time high of $2,432. However, if gold fails to sustain above the $2,363 support level, the next support level for the buyers could be at $2,340.
OANDA:XAUUSDLong
by RKarina
GBPUSD: Uptrend continues to be threatenedHello everyone! This week, GBP/USD has witnessed a slight recovery, climbing above the 1.2450 level after dropping to its lowest point in November at 1.2426 last week. The technical outlook still signals a downward trend, but easing geopolitical tensions may prolong the currency pair's recovery time. Investors sought safe haven assets last week following reports that Iran may retaliate for what is believed to be an Israeli attack on their consulate in Damascus on April 1st. This has boosted the US dollar as a preferred safe asset, thereby putting pressure on GBP/USD at the end of the US trading session. US stock index futures were last seen rising between 0.4% and 0.6% for the day. If Wall Street's key indices open positively and continue to rise, the US dollar may struggle to maintain its strength, potentially allowing GBP/USD to climb higher.
Editors' picks
Short
by RKarina
2
GBPUSD: Upward price momentum has not appeared yet!The GBP/USD pair is seeing a continuation of its strong downtrend, with the lowest since November 17 recorded during Tuesday's Asian session. Currently, GBP/USD is re-approaching the bottom of the monthly descending channel at 1.2440, and a test of this level is underway. Last Friday's low of 1.2430 is also in the market's sights. A clear break through this support could open the door towards 1.2370, and if the decline continues, there is no other obvious support until 1.2220. For the pair to recover, a break above 1.2505 is needed as a first step, where a large uncovered order volume is likely to be the driving factor for a further pullback to come. level 1.2565. These developments will be important in determining the near-term trading strategy for GBP/USD, especially given the current climate in the global foreign exchange market.
Short
by RKarina
EURUSD: Bearishness continues to prevail!EUR/USD has been falling for the past six sessions, trading around 1.0600 during the Asian session on Tuesday. The US dollar, supported by rising US Treasury yields, is asserting its strength, putting pressure on the pair. When looking at the current situation, unstable economic factors in the euro area, along with the potential recovery of the US economy, are raising expectations for a strengthening of the dollar in the near future. next. This becomes even clearer when it is predicted that the European Central Bank (ECB) may reduce interest rates before the US Federal Reserve (Fed) takes similar measures. In this context, the forecast shows that EUR/USD will likely continue to decline further in both the short and medium term.
Short
by RKarina
What will the new week's gold price look like?Let's all join in and devise a strategy to earn gold this week! Last Friday, gold experienced a significant decline, plummeting nearly 1000 pips from $2431 to $2333. However, as we begin this week, gold has quickly regained its upward momentum, similar to recent trends. Currently, the price is hovering around $2360, after a 0.64% recovery today, equivalent to approximately $15. Despite the recent market fluctuations, the upward trend of gold remains strong, serving as an excellent hedge against political tensions and financial market instability. The factors that propelled gold to record highs last Friday are still in play. China continues to lead in gold accumulation, marking the 17th consecutive month of increased gold reserves, which further reinforces optimistic sentiment. Let's keep an eye on these driving forces as they unfold!
OANDA:XAUUSDShort
by RKarina
USDJPY: Continuing to set new records!The USD/JPY has surged to its highest level in decades, reaching 154.00 during European trading on Monday. The Japanese Yen continues to weaken amid uncertainty about future interest rate hikes by the Bank of Japan (BoJ). However, concerns about potential interventions and geopolitical tensions could impact the Yen, a traditional safe haven asset. On the technical chart, the price shows strong upward momentum after a period of consolidation, moving steadily along the EMA 34 and 89 lines. The prospect of further price increases remains a top priority for this currency pair. The recent highs around the 153.25-153.30 area now serve as a strong support level, laying the groundwork for USD/JPY to potentially retest the 154.00 mark and potentially climb even higher.
Long
by RKarina
Gold price today: Recovery after the storm!Last week, the price of gold fluctuated between $2,300 and $2,360 per ounce until Wednesday. By Thursday, amidst escalating tensions in the Middle East, the upward trend became evident as gold reached a new peak above $2,400 per ounce. The momentum continued into Friday, reaching $2,431.59 per ounce before declining to around $2,355 to end the week. The geopolitical risks seem poised to push the price of gold even higher. The outlook for this week is optimistic: a survey on Wall Street showed that 83% of analysts expect the price of gold to increase, with only 17% predicting a decrease. There is no neutrality in these expectations. An online poll conducted by Main Street reflects this sentiment, with 82% of investors predicting an increase or stable trading for gold. Meanwhile, 66% of surveyed retail traders expect gold to rise. Personally, I believe that gold will continue its upward trajectory, although it may experience some short-term price adjustments along the way!
OANDA:XAUUSDShort
by RKarina
NIFTY50 : RISING WEDGE BREAKDOWNNSE:NIFTY ◉Technical View ▲The up-trend started to lose its strength a few days back and formed a rising wedge price action. ▲The Rising wedge broke down from the trendline + Neckline and gave a good closing also with RSI confirming the Bearish Structure. ▲2nd confirming structure is double top, I always say location is important more than the structure and this double-top has formed at the weekly trend channel resistance line, a potential supply zone ▲The Major levels of support have been marked on the chart, kindly analyse and mark them on the chart. ◉Fundamental Event. Yesterday Conflict escalated between IRAN & ISRIAL so Majority of global markets took hit and closed in Red. ◉This Can possibly Trigger GAP down-opening then look for Retest to short. ◉Keep Risk under control by using Protective Stops. Keep Learning, Happy Trading.
NSE:NIFTY
by SANJAYPATIDAR_
Gold continues to increase in price dramatically!Hi everybody! Gold just experienced a volatile day yesterday, falling sharply to $2,330 before quickly recovering to $2,392, recording a spectacular increase of $62 in a short time. This strong recovery further reinforces the sustainable appeal of gold in the current context. In a situation where inflation in the US is rising, the Federal Reserve's (Fed) ability to delay monetary policy changes has increased the strength of gold. Gold appears to be not only sustainable but also strong, despite uncertainties from US economic data. Despite the US dollar rising against other currencies and US bond yields staying high, gold still shows resilience. I am still very optimistic about gold's prospects, considering it a safe haven, especially in the context of geopolitical tensions in the Middle East continuing to heat up.
OANDA:XAUUSDLong
by RKarina
6
Gold price is approaching the 2400 USD zoneAs the trading week ended, gold showed no signs of slowing down in its recovery, approaching the key $2,400 mark and posting an impressive daily gain of 1.04%, or 240 pips. Gold continues to benefit from strong market support, especially given the ongoing geopolitical tensions in the Middle East, which show no signs of easing. This confirms gold's status as a safe haven asset. In addition, expectations that major central banks will reduce interest rates later this year also contribute to strengthening the value of this precious metal. From a technical analysis perspective, if gold continues on its current trajectory, the next target according to the Fibonacci index is 2465 USD. In addition, the uptrend is also reinforced by the price movement above both EMA 34 and 89, bringing optimistic signals to investors.
OANDA:XAUUSDLong
by RKarina
1
GBPUSD: End of uptrendThe GBP/USD pair continues to face selling pressure around the 1.2540 level, after bouncing back from its lowest point in 2024 at 1.2520. The selling of this major currency pair is driven by a stronger US dollar, which unexpectedly rose after the US Consumer Price Index data for March. A quick look at the chart shows that the upward trend has been decisively broken and the downward momentum is further supported by the intersection of the two EMA trend lines. The market seems to be increasingly favoring sellers as the USD continues on its recovery trajectory.
Short
by RKarina
GBPUSD: Selling force is still strong!On Friday morning of this week during the Asian session, the GBP/USD exchange rate stabilized at 1.2550. The market is excited with predictions that the Bank of England (BoE) may reduce interest rates ahead of the US Federal Reserve (Fed), which is putting pressure on the British Pound and the exchange rate. Today, UK GDP numbers for February and Michigan's preliminary consumer sentiment index for April will be in focus for investors. Earlier in the week, higher-than-expected CPI figures triggered speculation that the Fed may delay interest rate cuts this year in terms of quantity and timing. Fed officials believe the central bank has reached the peak of its current rate-tightening cycle and that current monetary policy puts them in a good position to respond to the economic outlook. They also open up the possibility of maintaining higher interest rates for longer if inflation tapers off. Hawkish statements from Fed officials increased the value of the US dollar, which in turn put downward pressure on the GBP/USD pair.
Short
by RKarina
EURUSD: Breaking important support levels!Hello everyone, EURUSD today continued its downtrend, extending for the third day in a row, surpassing many support levels despite the appearance of a double top pattern. The support level at 1,072 could not stop the exchange rate from falling deeply. The current outlook remains skewed in favor of sellers, as candlestick patterns closed below support and a slight rise in the US dollar further exacerbated the pressure on the pair. Increasing speculation that the Fed may cut interest rates in September is also adding to the burden on EURUSD.
by RKarina
XAUUSD - Is the 2400 USD target possible?Hello dear friends! Yesterday, gold faced some challenges in the context of a stronger US dollar. However, it still remains a focal point of interest for international investors. After dropping to $2,330 per ounce, gold quickly rebounded within just 20 minutes, climbing back to around its previous price of $2,345 per ounce and stabilizing at around $2,331 at the time of writing. Investors seem unsurprised by the much stronger US dollar and the possibility of a delay by the Fed. Gold continues to be a safe haven amidst high inflation and the instability and turmoil of the global economy. It seems that the demand for gold will likely continue to rise unless inflation exceeds expectations. A more stable report could push the price of gold up to $2,400.
OANDA:XAUUSD
by RKarina
Prices rebounded after a series of quiet trading daysThe Japanese Yen has depreciated against the US Dollar this Wednesday, as the US released inflation data that was higher than expected. This development has pushed back the Fed's interest rate cut talks from June to September. Furthermore, upon reviewing the latest FOMC minutes, it appears that US officials are wary of the inflationary pressures that are looming, which could mean keeping interest rates high for a longer period. On the other hand, the Bank of Japan is showing calmness by tightening its grip, keeping the Yen under pressure and helping USDJPY rise. Keep an eye on the 153.00 level; it currently serves as a gatekeeper to the highest level in decades at 153.45. If we surpass this level, it could signal a green light for bullish speculators to push this currency pair higher, extending the upward trend we witnessed last month.
Short
by RKarina
Update the latest gold price todayGold prices plummeted, dropping 20 USD after just 30 seconds after the US inflation announcement, exceeding market expectations. Inflation in March increased by 0.4%, exceeding the forecast of 0.3%, putting the Federal Reserve (Fed) in a difficult position in making future monetary policy decisions. Inflation increased 0.4% in March, pushing the annual interest rate to 3.5%, signaling persistent high inflation. This situation may force the Fed to delay cutting interest rates to prevent the US economy from falling into recession, aiming for recovery in a challenging global economic context. Previously, there were strong signals that the Fed might delay raising interest rates at its May meeting, with just over a 50% chance of a rate hike at its June 12 meeting. The consequences are for gold prices. fell as the US dollar soared, benefiting from yesterday's developments.
OANDA:XAUUSDLong
by RKarina
EURUSD: Stable waiting for new news!Hello traders! The EURUSD exchange rate is currently performing well, not deviating too far from yesterday's attractive position. It seems like we are all in this stable meditation garden, and it may stick with us until the end of the day and beyond. The Bollinger Bands range is back in action, stretching between the resistance level at 1.088 and the support level at 1.081. At the time of writing my thoughts, the price is at 1.0850, experiencing a 0.06% decline for the day. Let me tell you, a cautious atmosphere is gradually emerging as we approach the release of the US CPI index and the FOMC minutes, both scheduled for Wednesday this week. What is your strategy as we wait for the unveiling of these economic dramas?
by RKarina
The rising momentum shows no signs of cooling down!Gold is heading towards its eighth consecutive record-breaking day, showing no signs of slowing down to provide better entry points for the upward trend. The precious metal has few indications that the price increase will be threatened, and the CPI index will be the focus of today's trading. Looking back at recent days, even the NFP couldn't weaken gold, so it's exactly what was observed last week, with the weaker US dollar truly adding more appeal to gold. Market sentiment The buyer/seller ratio is indicating dominance in buyer changes, providing a trading signal contrary to popular belief that gold may decrease in value. Technical outlook On the H4 timeframe, the upward trend is still present, but the momentum is slowing down with shorter candles and a short-term consolidation pattern. In the event that gold continues to rise, the price target of 2370-2380 USD will be of interest today, where there are many short-term sell contracts waiting to be matched.
OANDA:XAUUSDLong
by RKarina