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Gold Prices Decline for 6 Consecutive Sessions, Facing ResistancGold prices fell for the sixth consecutive session on Wednesday (October 9), driven by a stronger USD and diminished expectations for a more aggressive rate cut in November 2024. Gold is currently hovering around $2,608.880, after hitting a key support level at $2,575.921. This is a crucial support zone that buyers need to defend to prevent further declines. At present, gold is facing strong resistance at $2,648.815 and $2,624.834. If these levels cannot be surpassed, gold is likely to continue correcting down to the nearest support at $2,575.985. However, if buyers manage to push prices past the current resistance, the market could see a short-term rally. The RSI indicator is currently at 36.19, suggesting that bearish momentum still dominates and warning of a potential deeper correction.
OANDA:XAUUSD
by Zola_Hello
BTCUSDT: Short term buying and selling strategy.Based on the BTCUSDT chart you provided, here’s a concise trading strategy: Resistance Area: The price range between $64,000 and $68,000 is acting as strong resistance. The price has previously been rejected at this level, signaling a potential sell opportunity. Sell Plan: If the price moves up and tests this resistance zone again ($64,000 - $68,000), consider entering a sell position upon seeing a bearish reversal signal. Set a stop-loss just above $68,000. Take-Profit Target: Aim for a take-profit target around the $53,800 - $54,000 area, which is a significant support zone. Risk/Reward: This strategy offers a reasonable risk-to-reward ratio, particularly as the price continues to move within a downtrend channel. If the price breaks below the $53,800 support level, there could be further downside potential.
by Suyouu
Bitcoin Testing Key Support at 64,000 USDTBitcoin is trading at 64,454 USDT, facing resistance at 65,461 USDT and showing potential for a bearish move. If it breaks below 64,000 USDT, it could drop to the support zone between 63,198 USDT and 63,500 USDT. Key Scenarios: Bearish: A break below 64,000 USDT could target 63,200 USDT. Bullish: A rebound from support may lead to a retest of 65,461 USDT, aiming for 66,000 USDT. Traders should watch the support zone for potential buy or sell signals.
by Suyouu
7
Continued Bullishness in Ascending Channel PatternThe USD/JPY chart is currently tracking a clear bullish channel, with repeated bounces after each minor correction. Having just touched the lower boundary of the channel, the pair has shown signs of recovery, breaking above the nearest resistance level. This makes me confident in the possibility of a continuation of the bullish momentum, especially since the EMAs (34 and 89) are also starting to show an upward crossover, supporting the uptrend.
by Alexander_FXTrading
EUR/USD Breakout Towards 1.1300Currently, EUR/USD is in a consolidation phase after a recent rally. The price is fluctuating between support at 1.10835 and resistance at 1.12106. The price has broken below the 34 EMA and is testing lower levels, indicating a short-term bearish trend. Technically, key support is at 1.10835, representing the recent low. Resistance is at 1.12106, marking the nearest high. A breakout scenario may occur around the 1.11438 region. If the price breaks through this level and continues past resistance at 1.12106, there is a high chance of a strong rally up to 1.1300. Recently released inflation data will significantly impact EUR/USD. If inflation comes in higher than expected, it could support the Euro's rise.
Long
by Romio_pro
Gold Price Drops as Investors Take ProfitsThe XAU/USD chart presents an interesting market scenario, with gold currently hovering around $2,636.120. Key support levels at $2,613.983 and $2,607.217 act as a "shield" for buyers, preventing deeper declines. The strong resistance at $2,677.741 has become the primary target. If gold surpasses this level, a continued upward momentum could occur, aiming for new highs. The breakdown of Middle East peace talks, weakening U.S. job market, a potential 0.5% rate cut by the Fed, and China's stimulus boost – these factors may drive gold prices higher in the future.
OANDA:XAUUSDLong
by Romio_pro
GBP/USD: Break $1.34277 or Pull Back to $1.33605?The GBP/USD chart on September 30th paints a dramatic scenario as the price hovers around $1.34090, preparing to confront the strong resistance at $1.34277. This is the "wall" that if the buyers can overcome, a new journey toward higher peaks will begin. However, the battle won’t be easy. If the price is rejected at resistance, a correction toward the support zone at $1.33605 could happen, giving the sellers the advantage. With support from the EMA 34 at $1.33816 and EMA 89 at $1.33378, the price might find stability. What heightens the market's tension now is the influx of economic news from the U.S. Traders are anxiously awaiting key factors that will determine whether GBP/USD will see a spectacular breakout or a retracement. All will be revealed in the coming sessions!
Long
by Romio_pro
ETHUSDT today ETH is currently trading at 2,633.61 USDT, showing a slight pullback. The chart presents a key resistance level at 2,701.53 USDT and a significant support zone around 2,574.43 USDT. Possible Scenarios: Bearish Rejection (Red Path): If ETH fails to break the resistance at 2,701.53 USDT, it could see a drop towards the support level of 2,574.43 USDT. Bullish Breakout (Blue Path): Should ETH break above 2,701.53 USDT, a further upward move could be expected, indicating a continuation of the bullish trend. Trading Strategy: Bearish: Short positions could be considered if ETH fails at resistance, targeting the 2,574.43 USDT support zone. Bullish: Long positions can be taken if ETH breaks above 2,701.53 USDT, targeting higher levels. Traders should monitor the resistance and support levels closely to catch potential market moves.
by Suyouu
XAU/USD: Break Through $2,683 or Correct Down to $2,644?The XAU/USD chart reveals a critical situation as gold prices hover around $2,659.915. Currently, strong support at $2,644.626 is helping to prevent a deeper decline. The EMA 34 and 89 lines at $2,652.357 and $2,618.574, respectively, are also playing a role in supporting the uptrend. The key resistance level to break is $2,683.746. If the price can breach this level, the potential for continued upward momentum to higher levels will open up. However, if it fails, the likelihood of a downward correction becomes clearer, with the target being the lower support zone. Additionally, hot economic news from the U.S. and significant updates from the Fed could strongly influence gold price movements in the near future.
OANDA:XAUUSDLong
by Romio_pro
XAU/USD: Break Resistance at $2,680 or Correct to $2,645?The analysis of the XAU/USD chart shows that gold is currently priced at $2,658.550, with strong support at $2,645.331. From the chart, it is clear that the upward trend is still being maintained, thanks to the support of the EMA 34 and EMA 89 levels at $2,658 and $2,633.502, respectively. The key resistance at $2,680.809 is the barrier that the price needs to break through if it is to continue reaching higher levels, with the next target at $2,697.070. However, if the price fails to maintain its upward momentum and drops below the $2,645.331 support level, a deeper correction may occur. In the current market context, important economic news from the U.S. and statements from Fed officials will be key factors that could significantly impact gold price movements in the coming days.
OANDA:XAUUSDLong
by Romio_pro
3
XAU/USD: Ready for a Breakout or Awaiting a Pullback?The XAU/USD chart is revealing a dramatic story. Gold prices are currently fluctuating around $2,669.635 after touching a strong resistance at $2,685.180. The bulls are defending the critical support level at $2,649.955, with two solid defensive shields — the EMA 34 and EMA 89 positioned at $2,639.497 and $2,594.206 — keeping the upward momentum intact for gold. However, the real challenge lies at the $2,685.180 resistance level. Should the price break through, the door will open to new highs, with the next target set at $2,699.470 — a crucial resistance zone. As waves of economic news from the U.S. and key statements from the Fed roll in, this is the moment for savvy and alert traders to take action.
OANDA:XAUUSDLong
by Romio_pro
1
USD/JPY: Break Through $143.593 or Face a Deep Correction?The USD/JPY chart reveals an intense battle between buyers and sellers as the price hovers around $142.215. The support level at $141.682 acts as the final "shield" against any deeper declines. The current focus is on the key resistance at $143.593. If USD/JPY can break through this level, the path to $146.010 will open, offering a chance to reach new highs. However, if buyers fail to maintain momentum and the price falls below the $141.669 support, the pair may face a strong correction, pushing the market into a high-risk zone. Crucially, major economic news from Japan and unexpected moves from the BoJ will be decisive factors, with the potential to shift the course of this battle at any moment. Will USD/JPY rise to the challenge or retreat under market pressure?
Long
by Romio_pro
1
XAU/USD: Awaiting a Breakthrough at $2,720 or Correction?The XAU/USD chart on September 26 tells an exciting story of gold's bullish momentum. After hitting $2,661, gold is steadily advancing, shielded by two strong supports—EMA 34 at $2,540 and EMA 89 at $2,448. These support levels act as fortresses, holding buyers firm and allowing gold to continue climbing. However, all eyes are now on the key psychological resistance near $2,720, a critical barrier that, if broken, could pave the way for new highs. Upcoming FOMC statements could significantly impact XAU/USD.
OANDA:XAUUSDLong
by Romio_pro
BTCUSDT : The uptrend channel is still in place.BTCUSDT has experienced a decline as it approached the resistance level of 64,500 USD. However, looking at the technical picture, the uptrend remains steady, with the parallel price channel still intact and no signs of reversal from the 34 and 89 EMA. With these carefully analyzed factors, we should consider re-entering buy positions when the price hits the lower boundary of the channel. That said, this is merely a trading idea, so exercise caution. If the price breaks the channel, it’s time to shift your strategy to sell with the trend. Wishing you successful trades! And don’t forget to share your thoughts on this analysis below!
Long
by Suyouu
2
EUR/USD: Break $1.12009 Resistance or Correct?The EUR/USD chart from September 26 reveals a dramatic race between buyers and sellers. After reaching $1.11540, all focus is now on the tough resistance at $1.12104 — the barrier that will determine whether EUR/USD can continue to break out. The support level at $1.11172 acts as a strong shield, maintaining the upward momentum. If this resistance is broken, the pair could unlock potential for new highs. In this context, any shifts from Fed statements or Eurozone economic data could dramatically alter the outcome.
Long
by Romio_pro
EUR/USD: Break $1.1253 Resistance or Await a Pullback?EUR/USD is currently climbing around $1.11950, strongly supported by two solid "fortresses" at EMA 34 and EMA 89, located at $1.11390 and $1.11107. A clear uptrend has formed, with solid support at $1.10864, ensuring the momentum remains intact. The key focus now is on the critical resistance at $1.1253 — the gatekeeper determining whether the uptrend can break through to new highs. With significant economic factors from the US and Europe on the horizon, including key Fed speeches and PMI data, the market may experience sharp volatility. Traders should be ready for action: will you seize the breakout opportunity or wait for a pullback to enter at an optimal level? Opportunity favors the prepared!
by Romio_pro
XAU/USD: Historic Breakout or Awaiting a Pullback?Gold prices continue to shatter records, reaching an all-time high of $2,664, fueled by declining consumer confidence in the US, weakening Treasury yields, and a softer US dollar. Two strong support levels at $2,629.123 and $2,613.812, protected by the EMA 34 and EMA 89, act as shields for gold’s bullish momentum. However, the biggest hurdle remains the resistance at $2,685.993 – the key level that will determine whether gold can continue its upward climb to new heights. If the price breaks through this resistance, the potential for further gains looks promising. Meanwhile, economic news from the US and statements from the FED could change the game at any moment. Traders, be ready – opportunities like this don’t come twice. Get set for a powerful breakout!
OANDA:XAUUSDLong
by Romio_pro
BTCUSD: Prospects for continued growthBTCUSD has pulled back after hitting resistance at 64,500 USD, but the overall uptrend remains intact. The key support zone is around 60,000–61,000 USD, which could act as a springboard for a price rebound. If the price holds above this level, there is a strong possibility of a bullish move back to 64,500 USD and potentially higher. The uptrend will be reinforced if buyers step in at the support zone, driving momentum for a longer-term rally. Bullish idea: Wait for the price to touch the support, bounce, and confirm the uptrend, then consider buying when it breaks above 62,500 USD.
BITSTAMP:BTCUSDLong
by Suyouu
The Growing Attraction in a Volatile WorldThe gold price chart shows a clear upward trend since the beginning of September, with the EMA 34 and EMA 89 both signaling a strong upward momentum. The weakening of the USD, along with global economic stimulus measures and political tensions, have pushed gold prices higher. Especially in the context of major central banks around the world - from the US to Europe, and the People's Bank of China - all spreading monetary support packages like spring rain, further fueling the desire to invest in gold. Gold remains a safe haven and attractive asset in the current unstable context. Investors need to closely monitor market developments to seize opportunities and adjust strategies promptly.
OANDA:XAUUSD
by Alexander_FXTrading
EMAs Support Bullish MomentumEUR/USD is showing signs of recovery, with the price trading near the resistance at 1.1200. The 34 EMA and 89 EMA have both undergone a crossover phase, which is usually a positive signal, suggesting that the bullish momentum could continue. The current chart shows the pair breaking out from lower levels, heading towards the resistance levels above. Based on the current EUR/USD chart and the bounce from recent support levels, the prediction is that the pair could continue to rise in the short term. The crossover of the 34 EMA and 89 EMA, coupled with the price currently testing the resistance zone around 1.1200, suggests that the bullish momentum could continue. If the price successfully breaks above 1.1200, the next target could be the 1.1250 area.
by Alexander_FXTrading
Catching the Uptrend Amid Expectations of Interest Rate CutsIn the context of the global economy witnessing major adjustments from central banks, gold prices continued to experience a spectacular week of price increases, reaching a new record high. The main reasons were the weak dollar and the continuous decline in US Treasury bond yields, combined with the tense geopolitical situation between Israel and Hezbollah. At the end of the trading session on September 23 at Kitco, gold recorded a price of 2,625.00 USD/ounce, slightly up 3.60 USD. The market is waiting for new signals from the US Federal Reserve (Fed) this week, especially the upcoming speech of Chairman Jerome Powell, along with the announcement of PCE price index data, an inflation measure that the Fed is particularly interested in. Technical analysis from the current chart shows that gold is trading right at a key resistance level, with a strong upside momentum supported by the 34 EMA and 89 EMA, which are acting as key support levels. Given the current economic and geopolitical factors, gold could continue its upward momentum if the upcoming monetary policy meetings of the Fed and other central banks yield further monetary easing decisions. Further rate cuts could further strengthen the buying interest in gold as a safe-haven asset. If gold breaks the current resistance level, the next target could be around $2,700/oz. In case the price falls below the supporting EMAs, one needs to keep a close eye on the support level at $2,560/oz, which could provide an ideal entry point for long positions.
OANDA:XAUUSD
by Alexander_FXTrading