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GBPUSD: Preparing for a new trend?Hello dear friends! Overall, Wednesday saw a stunning comeback for the British Pound, as it quickly regained strength from its seven-week low at 1.2539. A combination of comments from senior officials at the Federal Reserve and data on the US services sector that missed expectations created a strong headwind for the US Dollar, pushing it went lower for two consecutive days. This is a turning point for GBPUSD, when this currency takes advantage of the opportunity to bounce high, painting a colorful recovery scenario on the financial rankings.
Long
by RKarina
NIFTYHello & welcome to this analysis Nifty in the hourly time frame has activated a Bearish Harmonic Alt Shark with the sharp drop since opening bell today. Now its gone onto make a Bullish Harmonic Reciprocal ABCD, however, since the drop was very sharp and its yet to do 38% of its minimum expected retracement, a confirmation for this bullish reversal will be once it starts sustaining above 22475. Failure to hold today's low so far opens for the 38-50-62% retracement levels
NSE:NIFTY
by Dinesh_C_Nagpal
1
#Bitcoin Big Fight: Bulls vs. Bears ( Fresh Update )#Bitcoin Big Fight: Bulls vs. Bears ( Fresh Update ) Hey everyone! Right now, Bitcoin is at $66,233 Key Points: Big Move Alert: If Bitcoin jumps over $70,500, we might just see it hit $100,000 super fast. Bulls' Hope: Watch out for $62,500. If we stay above this, the bulls have a chance to keep the party going. Bears' Target: If we fall under $62,500, we could be heading down to $50,000. Important Levels: Support (Bulls' Floor): $62,500 Resistance (Wall to Break): $71,000
by CryptoPatel
EURUSD: Recovering but outlook still bearish!Hello EURUSD traders! Today, we are witnessing a modest recovery of EURUSD to the level of 1.0777, but it still exhibits characteristics of a downward trend. Chart analysis indicates that the decline continues as it breaks out of the upward trend line. Furthermore, the convergence of EMA 34 and 89 appears to favor sellers. According to the Dow Theory, this currency pair is undergoing a corrective wave in its trend and is testing for a breakout, suggesting that any price increase may not be sustained. The target for the downside and the current selling zone is aimed at the first Fibonacci retracement level of 1.618.
Short
by RKarina
XAUUSDOh my goodness, everyone! You won't believe how gold has been shining like a diamond lately! On Wednesday, for the seventh consecutive day, gold (XAU/USD) reached an all-time high of around $2,282. Isn't that incredible? With all the drama unfolding - from the heartbreaking conflict between Russia and Ukraine to the simmering tensions in the Middle East, not to mention the devastating earthquake in Taiwan - it's no surprise that gold has become a safe haven for anyone seeking refuge. Just like when the stock market feels like a roller coaster ride, gold becomes our calm in the storm. And guess what? The US dollar (USD) decided to take a little nap, which only added to the allure of gold. It seems like the speculators betting against the Fed's interest rate cuts are throwing all the drama aside, making gold even more enticing. With this fascinating backdrop, it's quite clear that the path of least resistance for gold is upwards. So, will the price decrease slightly? I say this is a fantastic buying opportunity for XAUUSD. Let's admire those golden moments together!
OANDA:XAUUSDLong
by RKarina
GBPUSD: Maintaining the falling channel !Hello! Today, GBPUSD is once again experiencing another day of losses, clearly indicating a downward trend within a stable price channel. The pair has yet to show any signs of a breakthrough. Currently trading at 1.256, GBPUSD continues to operate below the EMA 34 and 89 lines, providing more selling opportunities around this pair. As long as the downtrend channel remains intact, the prospect of a price decline for GBPUSD remains a prioritized strategy.
Short
by RKarina
EURUSD: Discounts are still preferred!Hello dear friends, as predicted by us yesterday, the EURUSD pair continues to decline at the current price level of around 1.073 and the prospects are even more bearish. The recent rise in the US dollar following strong US PMI ISM data has weighed on this currency pair amidst investors' concerns about Germany's inflation data. From a technical analysis perspective, this currency pair lacks a clear direction for the next trend as the EMA 34 and 89 do not provide us with signals and future prospects. However, the preference still lies with the downward movement, with lower highs and EURUSD breaking below the support level of 1.075. In my personal opinion, I hope that this currency pair will continue to correct further and the lowest point at this time is 1.055.
Short
by RKarina
GBPUSDHello dear traders! Yesterday, GBPUSD finally broke out of its sideways trend, aligning perfectly with our expectations by plummeting. The British pound weakened significantly during the North American trading session, as strong US economic data could impact the Federal Reserve's interest rate cut decision. This situation has supported the US dollar while the soaring US Treasury bond yields pose a challenge for the GBP/USD exchange rate. Although prices may recover in the short term, it is important to pay attention to the Fibonacci retracement levels of 0.5 - 0.618 as selling pressure continues to dominate. Furthermore, the EMA trend still favors BEARS, making the SELL strategy highly prioritized.
by RKarina
Continue sales strategy and long-term goalsHello dear friends, let's explore USDJPY together! Regarding the impact of news: The US dollar (USD), up until now, is struggling to gain any meaningful traction amid speculations that the Federal Reserve (Fed) will begin an interest rate cut cycle in June, supported by US Personal Consumption Expenditures (PCE). The index on Friday. This may contribute to preventing any significant upward movement of the USD/JPY pair. Currently, traders are awaiting the release of important US macroeconomic data expected at the beginning of the new month, starting with the ISM Manufacturing PMI on Monday to set the tone ahead of Non-Farm Payrolls (NFP) on Friday. Conclusion on USDJPY and trend: Ahead of the expected news today, as this factor could bring unpredictable declines, we need to understand that maintaining stability within the range of the bullish channel could provide an advantage for bears participating in the market. In the short term, from a technical analysis perspective: With the current trend, a decline is possible. There is evidence to suggest that once the resistance level is touched, it will continue to move downwards, as indicated by RSI divergence remaining unchanged.
Short
by RKarina
Gold price continues to adjust after increasing sequentially!Hello dear friends, today gold continues to hold its ground at a high level despite some slight adjustments, but overall the price increase shows no signs of cooling down. Currently, the price of gold is trading around $2250, down 150 pips from yesterday as precious metals undergo a correction after a strong surge. Looking ahead, gold continues to be supported by the safe-haven demand due to the early rate cuts by the Fed. The ongoing war is causing economic downturn in some countries, leading investors to flock to gold. However, in the short term, the price is forming a new peak at high levels and a downward trendline is emerging. Following the principle, gold is expected to retrace back to the EMA 89 after breaking the support level at $2235. Today, let's continue to look for selling opportunities. Wishing everyone happy trading and profitable outcomes! Trading plan for April 2nd: 👨‍💻 XAUUSD BUY zone 2231 - 2229 🔹SL 2225 🔹TP 2240 - 2250 - 2260 Wishing you all full TP 💵💵💵
OANDA:XAUUSD
by RKarina
What's interesting about gold today? Up or down? Welcome, everyone! Last week was nothing short of a gold fever, as the precious metal reached unprecedented heights. Fast forward to today, gold has once again soared, hitting $2265, marking a notable increase of $25 in the early hours of Monday's trading session. This surge in gold's value is primarily driven by declining treasury bond yields and a weakening USD, with anticipated Fed rate cuts serving as a potent catalyst for this splendid revival. Looking into today's trajectory and the week ahead, the outlook on gold remains positive. However, we might witness a slight consolidation following the recent explosive recovery as the metal seeks a healthy correction to bolster its upward journey, alongside a reevaluation of its EMA line. The support zone to watch ranges from $2225 to $2235, aligning with the Fibonacci retracement levels of 0.5 - 0.618. If you find this detailed insight intriguing, don't hesitate to hit like and share your thoughts in the comments section!
OANDA:XAUUSDShort
by RKarina
GBPUSD: Trend still mysterious!GBP/USD held steady today, hovering slightly up around 1.2630 during Asian hours on Monday. The US dollar's daily losses recover somewhat amid risk aversion ahead of the release of US ISM Manufacturing PMI data expected later in the North American session, capping levels increase of this currency pair. Looking at the short-term outlook: The pair appears to be navigating a sideways trend with the 34 and 89 EMAs in line with the current price action, suggesting minimal fluctuations until the end of the day.
Short
by RKarina
EURUSD: Downtrend is still strongThe EURUSD continues to maintain a price below the 1.0800 level after facing significant downward pressure last week. The current trading level is 1.078, with a slight recovery indicated by a green candle at the beginning of the week. However, this increase has yet to be confirmed as safe, as technical analysis on the daily chart shows a convergence between price and EMA, creating a barrier and challenge to the potential continuation of the EURUSD's recovery. The outlook remains bearish for this currency pair in the coming period, with a defensive target at the 1.070 level.
Short
by RKarina
April 2, 2024 trading strategyThe record rise in gold prices is a sign that investors are worried that the Fed will not be able to control inflation when it starts cutting interest rates. Investors should wait for a pullback before buying. Gold may return to the price of 2,150 USD and will attract a number of new investors. The upward trend of world gold prices continues as the market is witnessing that central banks of countries are selling off the USD. to buy gold. If the US job market is stronger than expected, combined with "persistent" inflation, it may force the Fed to delay the start of the monetary policy loosening cycle. This will negatively impact precious metals.
OANDA:XAUUSDLong
by TrategySherpa
Update the latest gold price today!Warm greetings, beloved traders! Let's strategize for the gold market this week! Last week, gold experienced an impressive and strong upward trend, reaching its all-time high. Today, we see this precious metal surging to $2,263, marking a $31 increase in the early hours of Monday's trading session. The rise in gold is primarily driven by lower bond yields and a weakened US dollar, along with anticipated interest rate cuts by the Fed, which serve as strong catalysts for this vibrant recovery. Looking at the trajectory of gold today and this week, the long-term prospects remain optimistic. However, a slight consolidation may occur after the recent sharp increase as the metal seeks a healthy correction to solidify its upward journey. The support zone to monitor fluctuates between $2,200 - $2,215. Wishing you a prosperous and exciting trading week ahead!
OANDA:XAUUSDLong
by RKarina
XAU price today April 1, 2024 reached a historic peakCME's FedWatch probability indicator shows that there is a 62% chance that the US Federal Reserve (Fed) will cut interest rates in June. Lower interest rates often weaken the USD, making gold more attractive for investors holding other currencies. Another important factor contributing to the rise in gold prices is the continued purchase of physical gold by central banks around the world. Increased demand will directly impact prices, pushing gold prices to record highs. ECB policy planning member Francois Villeroy said that achieving the ECB's 2% inflation target is feasible. At the same time, he also warned about potential risks if the ECB does not cut interest rates. ECB executive board member Fabio Panetta hinted on Thursday that "the conditions for launching an easy monetary policy are gradually emerging." According to experts, central banks' gold purchases, impending interest rate cuts and concerns about inflation are the driving forces for gold prices to continue to increase in the short term. Bob Haberkorn, an expert at RJO Futures, said that closer to June, the market will see gold prices rise higher due to expectations of interest rate cuts by the Fed.
OANDA:XAUUSDShort
by TrategySherpa
USDJPY : The trend is not clear yet!Hello dear friends! Today, USDJPY continued a series of lackluster trading days, with prices stagnant compared to last week, fluctuating around the 151,300 mark due to lack of momentum and dependence on market news. Short-term expectations suggest stable volatility within a range, with little intraday volatility expected as EMA indicators remain inconclusive. Waiting for a breakout from this consolidation to identify a more favorable entry point. The luckiest!
by RKarina
Gold prices continue to receive supportOpening the new week, gold witnessed a strong breakthrough, with a sudden increase of nearly 25 USD, reaching a record high of 2265 USD in just the first hours of Monday. This growth marks a historic turning point, clearly reflecting investors' preference for gold - a safe haven option amid growing economic instability concerns and forecasts. interest rates. Another factor driving up gold prices is the fact that central banks around the world are constantly increasing physical gold reserves. This accumulation not only reflects confidence in the sustainable value of gold but also creates strong demand pressure, pushing the price of this precious metal to unprecedented levels. With current developments, gold is still forecast to maintain a positive growth momentum. However, a slight correction may be necessary to further consolidate this bullish trend. In the short-term scenario, a slight retracement is expected to occur, with support expected to be around 0.5 to 0.618 according to the Fibonacci ratio, opening up opportunities for flexible traders to seize. Wishing all investors a successful and exciting trading week!
OANDA:XAUUSDShort
by RKarina
Gold ends Q1 2024 at record high, what's next?Gold has surged to an all-time high of $2,233, surpassing the quiet trading atmosphere during the Easter holiday, which reduced market activity. The global pause on Good Friday, particularly in major markets including the US, has significantly eased the usual chaos surrounding the price of gold. Despite the temporary lull, the trajectory of gold seems poised to rise even higher, propelled by the ambitious target set by the Bull Flag at $2,251, enticing buyers to push up the price. For gold traders, surpassing the historical milestone of $2,236 is crucial to maintain the upward momentum. Now, all attention is focused on the round figure of $2,300 as the next milestone for gold enthusiasts. The 14-day Relative Strength Index (RSI), currently in overbought territory, suggests a potential retracement before the next price increase. However, any expected pullback is likely to find solid support at the previous all-time high of $2,223, with the $2,200 level considered an important test for gold's recovery potential.
OANDA:XAUUSD
by RKarina
XAUUSD - Trading in the green!Hello dear friends, let's explore the gold market over the past week! The previous week was particularly significant for gold, as it experienced a strong surge in price, reaching its all-time high of around $2,237. This increase in price was driven by market expectations of a potential interest rate cut by the Fed, prompting investors to flock towards gold and driving its value up in a sea of green. Looking ahead, I remain optimistic about the price hike. Based on technical analysis, gold has yet to show signs of forming a peak, indicating that there is still an opportunity for further upward movement. The trading price is above the EMA 34 and 89 lines, and by utilizing the Fibonacci method, gold is aiming for an initial profit target at 1.618, equivalent to $2,533. However, before reaching this first profit target, gold will likely undergo some corrections. What are your thoughts on the future price of gold?
OANDA:XAUUSDLong
by RKarina