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XAUUSD: Up or down?Hello everyone!! The price of gold today is mainly flat with not much fluctuation around the $2021 mark. With a visible resistance level at $2035 and positioned below the EMA 34 and 89 lines, the downward trend is still continuing despite signs of cooling down. Regarding news that affects the price of gold, investors are anticipating important economic reports from the US this week, including the PMI report, Q4 GDP data, and personal spending. This information will provide new indications about the Fed's interest rate policy. According to the CME FedWatch Tool, the likelihood of a Fed rate cut in March has decreased from over 70% to 43.5%, weakening the potential for a sharp increase in gold prices. RKarina predicts that the price of gold may continue to decline but still remain within the defensive range from $2005 to $2008. Gold still has a chance to reverse its direction if it holds above this support level. What are your expectations for the price of gold in the near
OANDA:XAUUSD
by RKarina
XAUUSD: Buy or Sell?Dear friends, currently the price of gold has dropped by about 6 USD after reaching a high of 2031 USD, following a clear downward trend on the chart. This is due to the strengthening of the US dollar, as the Federal Reserve is unlikely to cut interest rates in March. As a result, investing in gold becomes more expensive due to higher interest rates. In addition, the core personal consumption expenditure index of the US, an important measure of inflation, also affects the Federal Reserve's decision on monetary policy easing. However, macroeconomic data from the US may not have a significant impact if the price of gold remains below 2,000 USD/ounce. James Stanley, a senior strategist at Forex, predicts that the price of gold will stabilize around the 2,000 USD/ounce mark. He emphasizes that any price below this level would be a buying opportunity for investors.
OANDA:XAUUSDShort
by RKarina
How does gold price change?It is great to meet you all again to discuss today's gold trading strategy! At the beginning of the new week's trading session, gold prices have slightly increased. At the time of writing, the price is trading around $2029, marking a growth of $4 compared to the previous closing. Looking at the prospects for this week, all eyes are focused on the fluctuations of the USD in the context of monetary policy decisions by major central banks. In particular, the European Central Bank (ECB) will be closely monitored. Their recent stance at the World Economic Forum in Davos could significantly impact the USD and potentially support the price of gold. What do you think? How will gold perform this week?
OANDA:XAUUSDLong
by RKarina
BTCUSDT: What will happen this week?Dear friends, as predicted earlier, BTCUSDT continues its downward trend, currently at $41,178, marking a decrease of nearly 1.08% for the day. Technical analysis indicates that BTC has been unable to surpass the crucial resistance level at $43,600. Furthermore, the convergence of EMA and the resistance zone at $42,238 further suggests the possibility of further decline. If BTCUSDT breaks below the strong support level at $40,200, we may witness a significant drop compared to the initial profit-taking point of around $37,700 for sellers, as there is no solid support to reverse the previous trend. What are your thoughts on how BTCUSDT will evolve in the near future?
Short
by RKarina
GBPUSD: Buy or Sell?Hello everyone, I am delighted to continue our discussion on GBPUSD today. At the opening of the trading session on Monday, GBPUSD continued its upward trend on the 4-hour chart, currently trading at 1.271. The appreciation of the British Pound against the US Dollar may be attributed to the current market sentiment leaning towards risk, which has fueled its recent increase. However, there are still underlying risks that could cause GBPUSD to decline further, as it remains constrained within a long-term downward trend and the Trendline has not yet been broken.
Short
by RKarina
EURUSD: stuck in a downtrendHello dear friends, let's discuss the previous week's performance of EURUSD with RKarina and talk about strategies for the upcoming week! Last week, EURUSD was trapped in a downward trend, closing below the support level of 1.090 and currently trading around 1.089. As a result, there was a slight price recovery during the correction, but it is expected to encounter resistance at the Fibonacci retracement levels of 0.5 - 0.618. The possibility of further price decline for this currency pair remains high as it is still in a long-term downtrend, with a short-term target of 1.078.
Short
by RKarina
1
How does gold price change?Hello dear friends! The price of gold in the global market has increased at the start of trading in the US due to safe-haven demand amid escalating tensions in the Middle East. The weakening US dollar is a supporting factor for the rise in gold prices. The long-term outlook for gold is positive. However, the upward momentum may be delayed as the market is trying to assess the possibility of a US interest rate cut. Lower interest rates reduce the opportunity cost of holding precious metals. Currently, according to the CME FedWatch tool, traders expect a 47% chance of a Fed rate cut in March. This percentage has decreased from 71% last week, which is significant in the short term. In the future, the upward price momentum may decrease significantly.
OANDA:XAUUSDShort
by RKarina
EURUSD: buy or sell?Hello dear friends, are you curious about the trend of EURUSD? Today, EURUSD continues to fluctuate below the resistance level of 1.0900 and still maintains its short-term upward momentum on the 1H chart. However, when looking at the overall trend, this currency pair is still moving sideways within the price range below the resistance level of 1.090 and the support level of 1.084. The USD index (DXY) is still maintaining its upward trend and is further supported by comments from R. Bostic (Atlanta), which continue to put pressure on the EURUSD pair. Another evidence for this downward price movement is that it continues to trade below the exponential moving averages (EMA) 34 and 89. Karina still highly regards the Sell strategy today with the idea of trading the double top pattern displayed on the analysis chart.
Short
by RKarina
Xauusd: trade in the direction of the trendHello dear friends! On the last day of this week's trading session, gold experienced a gentle recovery with prices fluctuating around $2030, marking a 0.33% increase for the day. However, it also faced immediate resistance at this level, along with the activity zone of the 34th and 89th EMA. The price may retreat to $2010 if there is end-of-day news supporting the USD. Conversely, if the price successfully surpasses that resistance level, it will open up strong buying opportunities with a target of $2055.
OANDA:XAUUSDShort
by RKarina
BTCUSDTHello dear friends! Yesterday, BTCUSDT continued its downward trend, with the price dropping to $41,284 and approaching the strong support level of $40,500. This is a significant price level that has helped BTCUSDT rebound multiple times. If the price continues to decline further and breaks through this support zone, it will quickly drop to $37,700. The overall trend of BTCUSDT is still uncertain, so be cautious when trading by setting your take profit (TP) and stop loss (SL) levels accordingly!
Short
by RKarina
1
usdjpyHello everyone! Today, USDJPY continues to maintain a significant recovery momentum, as this currency pair has successfully broken through the resistance level at 148.10 and is approaching the new resistance level at 149.635, with the ultimate target of reclaiming the near 152.00 peak. However, this is still a challenging process as it heavily depends on and is influenced by market news. It is necessary to closely monitor more news in the new week to better grasp the trend. RKarina has set a higher target as analyzed, but what about you? Do you think USDJPY will be strong enough to regain the 152.00 peak?
Long
by RKarina
Gold breakout discount strategyDear friends! Currently, gold is trading with a stable recovery above the support level of $2030. At the time of writing, the price is trading at $2047, indicating a significant increase in price at the current time. On the analysis chart: Gold has broken the support level of $2059 and started a downward trend. Therefore, the stronger US dollar and higher US bond yields are putting pressure on the yellow metal. Regarding the outlook: Gold is currently experiencing a slight recovery towards the previously broken resistance area. However, with the market still in a downward price control, any breakout action could quickly push gold down to the defensive level of $2020
OANDA:XAUUSDShort
by RKarina
1
How does gold change momentum?Hello dear traders! On Wednesday, Gold experienced a sharp decline, reaching the psychological support level of $2000. However, it quickly corrected and has been lingering around $2022, close to the Fibonacci retracement levels of 0.5-0.618. This indicates that the prospects for this precious metal remain high. However, if it manages to surpass this retracement level and break through the temporary resistance at $2033, it could open up more opportunities for gold to recover even stronger, fueled by the tensions. Escalating political conflicts will pose high risks globally. Economies will continue to face inflationary pressures due to supply shortages. This will hinder global economic recovery, leading to an increased demand for gold as a safe haven and a hedge against risks. The forecast suggests a significant rise in gold prices as tensions persist.
OANDA:XAUUSD
by RKarina
EURUSD: Price increasing but ambiguousIt's great to see you again and talk about the EURUSD price today! Yesterday, the EURUSD received some upward momentum. However, this price increase is considered only as a correction within the downtrend wave of DOW, as this pair has been experiencing weakness since the beginning of the new week. Accordingly, the hawkish stance of the ECB has pushed back expectations of an early interest rate cut, providing additional support for the currency pair. However, the 4-hour chart is currently showing a further downward trend in the very near future as the EURUSD approaches the Fibonacci retracement levels of 0.618 - 0.5. Breaking below the level of 1.0844 will not receive significant support until reaching the level of 1.0773.
by RKarina
Gold: continues to weakenHello dear friends! Gold prices continued to decline today, with a drop of $25, bringing it down to $2,001 per ounce. However, the market quickly rebounded to $2,010 at the time of writing. As a result, gold prices have reached their lowest point in over a month during this week's trading session. Strong economic data has reinforced the strength of the US dollar and bond yields, dampening market expectations of a rate cut by the US in March. Closing below $2,015 per ounce indicates that the sideways range has been broken, and this precious metal is entering a bearish territory. It is expected to reach $2,000 once again and could potentially drop even further to $1,990.
OANDA:XAUUSDShort
by RKarina
GBPUSD: recovering againIt's great to see you again and talk about GBPUSD trading today! Currently, GBP/USD has attracted some buying pressure for the second consecutive day at the start of Thursday and seems to continue its good recovery from below 1.2600 or even higher than the day's low. The price is currently trading just below the 1.2680 level and is still well supported by the 1.260 support level, with speculation on the Bank of England (BoE) cutting interest rates early. RKarina expects this pair to return to the 1.278 and then 1.281 highs, what about you?
Long
by RKarina
The price of gold continues to plunge headlong into a deep holeToday, gold prices traded near the support level of $2000 in the afternoon in the US, as investors continued to bet on the Federal Reserve cutting interest rates in March. The CME tool shows a 52% probability of this event happening, down from around 70% a few weeks ago. In response to this news, the USD continued to strengthen and acted as a psychological arrow for investors, prompting them to sell gold massively, resulting in a sudden drop in gold prices. On the analysis chart: Gold has surpassed the USD 2015 support level as we expected. With the current difficult situation, there is still a significant possibility of a decrease in gold prices. The target of $1982 is still on the table in the short term, with a short-term recovery possibly aiming for the Fibonacci 0.618 level before the bearish side takes action!
OANDA:XAUUSDShort
by RKarina
EURUSD: buy or sellWhat are your thoughts on EURUSD as the market experiences a significant week with many enticing fluctuations? Today, we witnessed EURUSD succumbing to the downward trend, aligning with our prediction from yesterday. This currency pair is under pressure as the USD begins to regain strength, heavily impacting these major currencies. On the analysis chart, EURUSD has surpassed the Trend Line and dropped below the psychological support level of 1.090. The 4-hour chart indicates that this downward trend may continue soon. By violating the level of 1.0861, we may not encounter any significant support until reaching 1.078
Short
by RKarina