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EUR/USD: Continuing Downtrend and Key Levels to WatchHello traders, what are your thoughts on EUR/USD? Today, EUR/USD continues its strong downtrend, currently trading around 1.161. One of the key factors driving this decline is the strong recovery of the USD. Following the release of positive data from the US, especially the unemployment report, the market has reinforced expectations that the Fed will maintain high interest rates for a longer period. This has reduced the appeal of the euro, putting significant pressure on EUR/USD. From a technical perspective, the price is approaching the trendline's lower limit, and a breakout at this point could push EUR/USD further down. Personally, I expect the EMA 89 area to be an ideal target for this strategy. What about you, do you agree with my outlook? Feel free to share your thoughts, and let’s discuss!
Short
by Kevinn_Nguyen
Gold Prices Volatile Amid Economic Data and Trade TensionsGold prices saw strong fluctuations yesterday, dropping near 3,320 USD/ounce before quickly recovering and rising to 3,370 USD/ounce, a difference of about 50 USD, fueled by U.S. PPI data. However, by the end of the session, the price dropped back and is now trading around 3,340 USD/ounce, with little change compared to the same time yesterday. The U.S. June PPI rose 2.3% year-on-year, lower than May's 2.6% increase and the forecasted 2.5%. Core PPI rose 2.6%, also lower than May's 3% and the forecasted 2.7%. Month-on-month, the PPI remained unchanged at 0%, below the 0.3% increase in May and the forecasted 0.2%, while core PPI also held steady. This data suggests that inflation may decrease, especially after the U.S. adjusts its tax policies. Markets expect the Fed to cut interest rates in September, weakening the USD. Additionally, trade tensions between the U.S. and the EU have intensified after President Trump announced a 30% tariff on European imports, prompting a similar response from the EU. These factors are driving investors back into gold as a safe-haven asset. Gold is expected to continue consolidating in anticipation of a potential breakout.
OANDA:XAUUSDLong
by Kevinn_Nguyen
2
GOLD 03/7 - 7/7: Expected bullish recoveryIn the past week, central banks have indicated their intention to tighten monetary policy, leading to a drop in gold prices below $1900. Despite the possibility of an interest rate hike and a decrease in demand for physical gold, the US economy has shown signs of solid recovery with positive GDP growth in Q1 and continued consumer demand driving GDP growth. From a technical standpoint, last Friday's retracement suggests a possible rebound in gold prices, offering hope for a recovery. For this week, I plan to place short-term Buy orders. To start, I will wait for the price zone between $1915 and $1912 to be retested. Once that happens, I will make a purchase with a target of $1930 and $1940 for this week. Additionally, if the market reacts at these levels, I will also consider setting up Scalp orders at $1930 and $1940.
OANDA:XAUUSDLong
by DNA_TradingFX
9
GOLD 28/6 - Can the bulls hold the $1900 mark?The US Dollar experienced significant gains towards the end of last week as the Federal Reserve adjusted its perception of the interest rate trajectory. The reaction of Treasury yields will play a crucial role in determining the outcome. If they surpass the inflation rates priced in by the market, real yields may increase slightly, potentially leading to a decline in gold prices. Although there seems to be a double bottom pattern forming for gold at the H4 timeframe, confirmation of this pattern requires the market to break through the resistance level at $1932. Once this barrier is breached, the short-term target for gold would be $1950. We will be monitoring the resistance level at the H4 EMA 34 for a potential selling opportunity. SELL GOLD zone at: $1926 - $1928 - $ SL $1934 (It is best to carefully review the FOMC news before entering the order) SELL GOLD zone at: $1942 - $1945 SL $1953 Based on technical analysis indicators EMA 34, EMA 89 with strong resistance zone $1940 - $1943
OANDA:XAUUSDShort
by DNA_TradingFX
23