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Gold suddenly turned down in priceToday, we witnessed a change in the price of gold, dropping from $2,054 to $2,028 per ounce on Wednesday morning. This seems to be partially due to comments from officials at the Federal Reserve (Fed), indicating that it will take a while for the United States to reach its 2% inflation target. Meanwhile, the Fed is not rushing to cut interest rates and will only consider doing so when inflation significantly decreases. This has sparked speculation that the Fed will maintain the current interest rates after the meeting concludes on January 31. Following this information, the US Dollar Index has risen to 103.35 points. The strengthening of the USD is putting downward pressure on gold prices, potentially pushing them towards the support level of around $2,015. What are your thoughts on the future trajectory of gold prices?
OANDA:XAUUSDShort
by RKarina
XAUUSD: bullish optimism? The price of gold is trading quite flat, decreasing by nearly 5 USD and hovering around the 2050 USD mark. The market seems to be in a lull after the holiday break for banks. Further price declines could be seen at the triangle support level of 2,049 USD. Additionally, the support level of 2,027 USD on Friday could provide temporary relief for gold buyers. On the upside, a strong resistance level is observed at around 2,060 USD, above which a static resistance level at 2,080 USD will come into play. If the upward momentum gains strength, it cannot be ruled out that there may be a retest of the barrier at 2,100 USD.
OANDA:XAUUSDLong
by RKarina
EURUSD: Buy or sell?Hello everyone, what are your thoughts on EURUSD today? Currently, EURUSD is still in a downtrend after forming a double top pattern and starting to decline further with a reversal signal from the EMA 34. Market risk concerns have pulled down risk assets like the Euro in the context of escalating tensions in the Red Sea. Our priority target is to SELL because the main trend is still bearish and trading with the trend is always an effective and safe trading approach
Short
by RKarina
2
News of geopolitical instability still existsGold prices continued to increase in the early trading sessions of the week thanks to escalating tensions in the war in the Middle East. Gold experienced a steady rise near the weekend thanks to geopolitical tensions and weakness in the US dollar. The coordinated attack between the US and UK on the Houthi rebels in Yemen in recent days has made the market concerned that the war situation may gradually get worse. In addition, US government bond yields have also decreased slightly in the past month as the market continues to expect the Fed to cut interest rates in the near future.
OANDA:XAUUSDLong
by TrategySherpa
Gold price is stableCurrently, the price of gold is fluctuating around $2050 and has decreased by nearly $8 compared to the previous trading day. Overall, at the beginning of the week, gold did not experience significant changes in trend due to the closure of the US market for the Martin Luther King Jr. holiday. However, escalating geopolitical tensions in the Red Sea and a risk-averse environment still benefit safe-haven assets like gold. Retail sales figures for December will be released on Thursday, along with preliminary estimates for the University of Michigan Consumer Sentiment Index for January on Friday. The focus will continue to be on inflation, as Canada, the UK, Germany, and the Eurozone will publish updates, which will directly impact the price of gold whether it experiences a breakthrough increase or decrease
OANDA:XAUUSDLong
by RKarina
2
GBPUSD: Facing obstacles on the road to recoveryDear friends! Today, GBPUSD is facing some weaknesses in its recovery process. As a result, GBP/USD has dropped to around 1.2680 in the Asian trading session early in the day. The British Pound has lost ground against the US Dollar due to risk aversion sentiment, possibly driven by concerns over political risks dominating market participants' psychology, which acts as a psychological arrow prompting investors to sell GBPUSD and causing this pair to decline. From the 4-hour chart, we can observe that this currency pair has also broken out of the upward trend line, indicating that the price may continue to weaken. What are your thoughts on the GBPUSD trend?
Short
by RKarina
BTCUSDT: suddenly turned down in priceLet's take a fresh look at BTCUSDT today. After a sudden drop last weekend, from a high of $48,900, BTCUSDT has slipped down to $42,666. Technical analysis suggests that the bearish side is now taking control, with BTC dropping nearly $6,000 in a short period of time. The 4-hour chart and EMA 34 indicate a continued downward trend. Given the current scenario, a selling strategy with a short-term target of $40,700 is being considered. What about you? What are your predictions and strategies for the next moves of BTCUSDT?
Short
by RKarina
GBPUSD: directly facing the resistance level of 1.2800Dear friends, Overall, GBPUSD had a successful week as the price continued to rise without any significant breakthroughs. The currency pair remained supported as the USD struggled to recover. In terms of long-term trends, this currency pair is currently facing resistance at 1.2800. However, the upward trend is still supported by positive signals from the 34 and 89 EMA lines. On the other hand, the RSI indicates that buyers are no longer eager to break through this resistance level. Therefore, our upcoming target is to sell when the price breaks the trendline.
by RKarina
XAUUSD: price growth continues?Dear friends! Looking back at the previous weekend, gold has demonstrated its strength with a remarkable breakout, completely breaking free from the sideways trend and ending the downward trend. It is an impressive move from the bull side, as they not only successfully defended the key support level at $2015 but also pushed the price of gold higher from this point onwards. The tension in the Middle East is having a noticeable impact, reducing pressure on the US dollar and bond yields, thereby supporting the price of gold. In the short term, the demand for safe-haven assets may push the price of gold even higher. Given the current landscape, can we expect a new rally in the price of gold? What about you, do you anticipate a surge in the price of gold? Share your thoughts on the next direction for gold in this exciting market!
OANDA:XAUUSDLong
by RKarina
USDJPY: bearish signalThe USD/JPY pair has reached a pullback at the 145.00 level in early Monday's Asian trading session. Despite the decline of the US Dollar, this currency pair has managed to recover. The market is expected to have a quiet session due to the US bank holiday. However, when considering the technical trends and prospects: USDJPY has just broken the upward trendline and is currently in a corrective wave with a significant resistance level set at 145.500. From a personal perspective, I believe that if the support level of 144.800 is broken, the bearish side will have an advantage in pushing this pair back to the 143.500 level
Short
by RKarina
Update gold price at the beginning of the new weekDear friend, In general, precious metals truly impress us. Gold traded sideways near $2030 before rising to $2061 on Friday, then retraced to $2049 and stabilized at this level. Now, what excites me is that gold is currently trading calmly around $2050 - $2051 as we enter the new week. The interesting thing is that gold's recovery is driven by weakness in the US Producer Price Index (PPI) data and political tensions in the Middle East. Like a skilled dancer, gold breaks free from the downward "dance", returns to test the Breakout zone, and dances with the two EMA lines. For these reasons, gold makes me quite optimistic that it will not stop here. It seems to be heading towards a new high - $2088. What about you?
OANDA:XAUUSDLong
by RKarina
2
Gold price todayDear friends, let's explore the Gold market for the new week together! In general, the start of the new week sees Gold relatively quiet around the $2043 mark. Looking at the analysis chart: The overall trend is still bearish, with two negative factors driving it. Factor 1: The downtrend continues from the levels of $2149 and $2089. Factor 2: Gold has broken out of the price increase channel around $2058, leading to a significant decline. Although there has been some adjustment, it is still not strong enough. Therefore, it would not be surprising if Gold continues to decline with an expected drop to $2015. The important thing is to closely monitor and grasp these updates to have a clearer view of the upcoming significant ups and downs in Gold.
OANDA:XAUUSD
by RKarina
Gold price prospects to rise again sooner?Hello dear friends, as expected, yesterday we saw gold drop to its final profit-taking target at $2013. However, gold quickly recovered and at the time of writing, it is trading around $2033, stable within the previous downtrend channel. Therefore, the upward momentum of gold may be limited as there is a possibility that the FED may not begin cutting interest rates earlier than anticipated, which could lead to selling pressure on XAUUSD. Looking at the prospects and trends of gold: overall, it is still in a downward trend, but selling pressure is gradually decreasing and there is a possibility of a shift towards an increase in price due to the appearance of a convergence trendline on the RSI. The current support level is $2013, which may play a crucial role in the price increase of XAUUSD, with RKarina's profit-taking target set at $2035 and $2065.
OANDA:XAUUSDLong
by RKarina
Update the latest gold price todayDear friends, Looking at last week's chart, gold experienced a slight decline, but the long-term prospects remain quite positive. At the time of writing, the price is trading steadily around $2038, with support from the $2016 level. As long as the trend line remains strong, I believe gold will generate a breakthrough above $2045 and aim for my profit target of $2065 and $2088. What about you? Do you think gold has the potential to increase in value in the near future
OANDA:XAUUSD
by RKarina
2
GBPUSD: narrow tradeCurrently, GBPUSD continues its upward trend as it surpasses the resistance level of 1.276, marking a 0.13% increase for the day. On the analysis chart, the upward momentum is still strongly supported by an unbroken trend line, and it has become even stronger as the USD is still recovering. RKarina's price target in the near future is 1.28 (A new peak is expected to be established when this pair touches the trend line). What are your thoughts on the trend of GBPUSD?
by RKarina
How is gold trading today?Dear friends, Currently, the price of Gold is not experiencing significant fluctuations, mainly hovering around the $2030 mark and still stuck in a downward trend. Regarding our trading strategy for Gold: On the analysis chart, Gold is being limited below the resistance level of $2036 and is confluencing with two EMA lines, further supporting the downward trend. Therefore, we will prioritize Sell orders with a profit target at the defensive level of Bulls in 2020 - $2017. Wishing you good luck!
OANDA:XAUUSDShort
by RKarina
Gold drops to 2000 USD?Hello everyone, it's great to meet you all again for today's discussion on the price of gold!! Currently, the price of gold is trading around $2028, which is a decrease as expected from yesterday's session after a correction and a breakthrough below the previous support level of $2030. Regarding today's outlook: Gold continues to lean towards a downward trend as the technical signals of the EMA 34 and 89 remain above the price range. The current support level is $2016, as long as gold does not break out from here, the price will further decline to around $2000, with a consideration of $1980. As long as gold continues to stay below the resistance level of $2050, the path downwards remains wide open.
OANDA:XAUUSDShort
by RKarina
BTCUSDT: Exploding increase in valueToday, the BTC is continuing to consolidate significant price increases, with the current trading price standing at $46,516 at the time of writing. From a technical standpoint on the 4-hour chart, using the excellent tool called Fibonacci extension by Trading View based on trends, it shows that the current trend is bullish, with a relatively stable trading environment and minimal volatility. However, there are signs indicating that the price is approaching a previously broken resistance level once again. If this happens, it could serve as a stepping stone for further price increases as the current upward trend is still intact.
Long
by RKarina