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Old vertex test thanks to the increase in channelDear friends, Gold continues to rise as predicted, thanks to the favored safe haven during times of volatility. In a recent development, Federal Reserve Chairman Jerome Powell hinted at the possibility of raising interest rates. However, the market does not see this as a tightening statement. It seems that there are too many external risks impacting the economy. This will support the price of gold. In the near future, "Any data showing a decline in the US economy will further support the price of gold. A recession will force the Fed to lower rates, pushing gold up to $2,100." The strong positive trend in the 1D direction indicates that gold will continue to rise significantly, with my target at $2,017 and then the highest peak at $2,065.
OANDA:XAUUSD
by Samson-FX
Powell believes that current interest rates are not too high.Powell believes that current interest rates are not too high. "Are the policies too tight? I think not." However, he admitted "rising interest rates make it difficult for everyone". The Fed also emphasized that their targets have recently performed well. Inflation in September is currently 3.7%, down sharply from more than 9% in the middle of last year. "Recent figures show progress on both of our goals: maximizing employment and stabilizing prices. The economy is still handling quite well," he said. However, the comments came on the same day as a report showing the number of people filing for unemployment benefits last week was the lowest since the beginning of the year. This shows that the labor market is tightening, which could put upward pressure on inflation. In recent days, many Fed officials said the agency may temporarily stop raising interest rates. Even the most pro-tightening members think the Fed will wait for more impact from previous interest rate hikes on the economy. The market now also expects the Fed to stop raising interest rates, at least for now. The question now is when will they start reducing interest rates. "When the environment remains risky and uncertain, we will be more cautious. The Fed will make decisions based on upcoming data, as well as prospects and risks," Powell said.
OANDA:XAUUSDLong
by NicoTradingMaster
2
GBPUSD looks at the Fed's Powell for new motivationDear friends, Currently, after a quiet Asian trading session, GBP/USD has risen higher to the 1.2200 area on Wednesday morning in Europe. The technical outlook still does not show a forming upward trend, but there could be additional gains if this currency pair starts using the support level at 1.2200. If GBP/USD fails to surpass the 1.2200 level, sellers may still be interested and cause this currency pair to retreat to the 1.2130 and 1.2100 levels.
Short
by Samson-FX
GOLD - Deep reduction, long analysisHello dear friends! Today, the price of gold has made a slight adjustment and is currently trading at $1911 since the time of writing, a decrease of $18.48 or -0.96% for the day. Last week, gold witnessed its best weekly increase since mid-March due to growing safe-haven demand amidst the ongoing Israel-Hamas military conflict. In the current politically unstable situation, investors are flocking to gold. Additionally, the US declaration of tightening sanctions on Russia's crude oil exports on Friday has caused oil prices to rise to $90 per barrel. I believe that oil prices will continue to rise, and the role of gold as a safe haven will help counter inflation, which is beneficial for gold. For these reasons, gold buyers will continue to drive the price of gold higher in the near future, with a slight test of previously broken resistance levels before the upward momentum resumes. The expected increase is around $1952 - $1960.
OANDA:XAUUSD
by Samson-FX
The USD simultaneously increased againAccording to CME Group's FedWatch Tool, Fed Funds futures traders are pricing in a 39% chance that the Fed could raise interest rates again later this year, but only a 6% chance of a hike. in the next month. Fed Governor Christopher Waller recently said he wants to monitor whether the US economy continues to grow strongly or weaken this year in the context of the Fed's recent sharp increase in interest rates. Meanwhile, New York Fed President John Williams also said that interest rates will need to remain high for a certain period of time to bring inflation back to the Central Bank's 2% target. Fed Chairman Jerome Powell and several regional Fed presidents will give speeches today, October 19. A series of recent economic data shows that US economic activity has been little changed over the past month, due to the gloom in the labor market, and prices continue to increase at a "modest" pace. . Additionally, the greenback also benefited from its safe-haven status due to concerns about the conflict in the Middle East. On the contrary, the Euro fell 0.38% to 1.0536 USD.
Long
by NicoTradingMaster
AUD is gradually forming a double bottom patternAUD/USD continues to recover from the 0.6285 area, gradually forming a double bottom pattern with the neckline at 0.6435. On frame D1, the recovery momentum has weakened after touching the 20-day MA at 0.6380. On the H4 frame, the currency pair is still maintaining an uptrend. The RSI and MACD indicators signal that the upward momentum is still maintained. The price can still gain momentum if it maintains above the MA 20 line at 0.6330. Immediate resistance will be at 0.6390 and 0.6435. If the price retraces below 0.6330, the next important support levels will be 0.6310, 0.6285 and 0.6255.
Long
by NicoTradingMaster
Analyze and update GBPUSD new weekHello dear friends! After several days of price increase, GBPUSD has returned to its downward trend. It is currently trading at 1.2167 as of the time of writing, with a short-term recovery. The adjustment of the US 10-year Treasury bond yield lower, after increasing by over 3% on Thursday, has made it difficult for the USD to appreciate based on recent gains. Due to this reason, buyers will continue to push this currency pair higher, with an expected increase between 1.2308 - 1.2415, supported by the trendline and strong support level at 1.2121. What are your thoughts on this article? Please leave your comments below!
Long
by Samson-FX
USDJPY decreased, waiting for new data from Japanese CPIHello dear traders! Currently, the USD/JPY pair has touched a level near 148.80 but quickly recovered to a wider trading range around 149.50 as the Bank of Japan (BoJ) is expected to announce inflation forecasts for fiscal years 2023 and 2024 earlier than anticipated. Forecast: The hope for intervention from the Japanese government in the FX market is diminishing. The Japanese government is concerned about continuing to sell off the Japanese Yen and believes that these unstable actions are the cause of this. Meanwhile, the S&P500 futures contract has seen a significant decline in European trading session, reflecting a risk-accepting sentiment in the market due to deepening tensions in the Middle East. The US Dollar Index (DXY) has dropped from the 106.50 level as policymakers at the Federal Reserve support keeping interest rates unchanged in November. Therefore, this is a negative factor affecting the USD/JPY pair.
Long
by Samson-FX
EUR/USD price analysis: Achieving modest increaseHello dear friends! Today, the EURUSD experienced modest gains during the Asian trading session on Monday. It is evident that the recovery of this currency pair is supported by a weaker US dollar (USD). As of the time of writing, EUR/USD is trading at 1.0525. From the technical analysis chart: As mentioned, immediate resistance for EUR/USD can be seen at 1.0558. Additional price increase filters will appear at 1.0578. Any further buying trades above this level will witness a recovery towards the key barrier at 1.0600, describing a psychological round number and the highest level of October 6th. Moving further north, the major currency pair will challenge the next resistance at 1.0640 (high of October 12th), followed by 1.0655. On the other hand, 1.0477 serves as the initial support level for EUR/USD. The next dispute to monitor is near the lowest level on October 4th at 1.0450. The next stop is in the range of 1.0400-1.0405, representing a psychological sign and the highest level of October 17th. A decisive break below this level will result in a decline towards 1.0330 (low of November 16th, 2022).
Short
by Samson-FX
EURUSD continues to fall into the fieldHello dear traders! Currently, the EUR/USD is holding higher but still below the 1.0600 level in Asian trading on Wednesday. The risk-off sentiment is dominating and weighing on the US Dollar, particularly in the face of optimistic data from China. Lagarde's speech and EU/US data are being closely watched. On the 4-hour chart, the price is well supported and is currently trading around the 1.0574 level. The current resistance level is around 1.0600, and breaking above that level will attract attention towards 1.0630. Closing the day above that level will pave the way for further gains. On the other hand, a drop below 1.0540 will weaken the outlook for the Euro, causing it to decline towards 1.0500.
by Samson-FX
GBP/USD extends the reduction of 1,2170, waiting for his CPIHello dear traders! Currently, GBP/USD continues to incur losses for the second consecutive day, trading below the level of 1.2160 in the Asian session on Wednesday. Optimistic economic data from the United States puts pressure on the currency pair. GBP/USD reversed after rising to the area of 1.2200, where the recent downtrend's resistance level is located, confirming the significance of this resistance level. Meanwhile, the 4-hour chart shows a consolidation of the downward momentum. On the other hand, the level of 1.2130 is considered an immediate support level. Closing below that level within the 4-hour timeframe could attract more sellers. In that scenario, GBP/USD may find temporary support at 1.2100 (a psychological level) before targeting 1.2050 (the end point of the recent downtrend). If GBP/USD rises above 1.2200 and confirms that level as support, it could potentially extend its gains towards 1.2250 and 1.2300.
Short
by Samson-FX
Long -term prospects BTCUSDHello dear friends! BTC is currently emerging as a wind when investors switched their focus into this market as a safe shelter when the market seems to be unstable. Currently, BTC is trading at 27,233 from the time of writing. It can be seen that the coin is receiving strong support from Trendline. The current environment is favorable for BTC and thus, my price target is $ 30,000, with a strong breakthrough when surpassing the $ 28,000 resistance threshold.
BITSTAMP:BTCUSDLong
by Samson-FX
GBPUSD is expected to decrease slightlyHello everyone! GBP/USD closed the last two trading days of the previous week in the negative zone. Although this currency pair attempted a modest recovery at the beginning of Monday, it failed to gain momentum. Technical analysis: GBP/USD maintains a slight upward trend, with prices fluctuating around 1.2168 and decreasing by 0.37% in the day. If safe-haven flows continue to dominate the market in the second half of the day, the USD may remain strong against its counterparts, making it difficult for GBP/USD to gain traction. Positive changes in market sentiment could potentially push GBP/USD higher, but investors may be cautious about betting on improved stability in risk sentiment.
by Samson-FX
USD/JPY increasing traction above 149.60Currently, the USD/JPY pair is holding steady at 149.60 during the early European trading hours on Tuesday. The demand for the US Dollar (USD) and the recovery of US Treasury bond yields have provided some support for this currency pair. Investors are awaiting the US Retail Sales data on Tuesday for fresh impetus. The monthly figures are expected to increase by 0.3% in September. Looking ahead, market participants will keep an eye on US Retail Sales, Industrial Production, and the Fed's speaker on Tuesday. On Wednesday, Japan's trade data will be released, followed by the National Consumer Price Index (CPI) report on Friday. These figures may provide clear direction for the USD/JPY pair.
Long
by Samson-FX
USDJPY continues to turn up the price?Hello dear traders! Last week, USDJPY broke out of its upward trend and started moving sideways. It is currently trading at 149.51. However, there are still no signs of USDJPY reversing its direction. This is evident as the currency pair is in an upward trend and is gradually approaching a strong resistance level at 150.000. It is expected to retest the support level before the potential for further price appreciation. There is a significant breakout potential if UJ surpasses this resistance level.
by Samson-FX
Latest update of GBPUSD todayCurrently, GBP/USD has struggled to maintain its upward momentum at around 1.2300 levels at the start of Thursday and entered a consolidation phase. In the latter part of the day, the US inflation data for September could impact the pricing of the US Dollar (USD) and drive the action of this currency pair. As of the time of writing, GBP/USD is trading at 1.2303. In line with that, the cautious comments from Federal Reserve officials this week have weakened the USD against its counterparts. Investors assess a 72% probability that the US central bank will keep its policy interest rates unchanged until 2023. In the event that the core Consumer Price Index (CPI) is around 0.5%, the market may reassess the Fed's interest rate outlook and help the USD regain its traction. On the other hand, risk sentiments could continue to dominate market activity on soft print and allow GBP/USD to continue its ascent based on its weekly gain.
Long
by Samson-FX
Weekend gold analysisHello dear friends! Currently, gold continues to show positive growth with prices reaching a high of $1886, the highest in two weeks. This upward trend is driven by increasing expectations of higher interest rates from the Federal Reserve. This data further strengthens the likelihood of the Fed tightening monetary policy. As a result, US Treasury bond yields surged overnight, leading to a significant recovery of the US Dollar (USD) due to short positions being covered. This USD recovery is seen as a crucial factor putting downward pressure on gold prices. However, the downtrend established from the peak of $2050 on the 1D chart has yet to be broken. With this downward momentum, gold may still continue to rise during this phase, with a potential increase to $1912 before the threat of a price decline is reassessed.
OANDA:XAUUSD
by Samson-FX
Dow formed on 1D chart, USDJPY continued?Currently, USDJPY is gradually approaching the 150.00 level after receiving strong support from the 137.30 support level. USD/JPY aims to regain its three-day winning streak, trading around 149.80 in today's trading session. This pair has gained price support due to a series of optimistic economic data from the United States (US). Looking at the technical picture, on the H4 time frame, USDJPY has formed a DOW pattern, and surpassing the 150.00 level will continue to drive upward momentum for USDJPY.
Long
by Samson-FX
Gold price at the end of the session, the price decreases slightHello dear friends, Gold today has shown its first signs of decrease after a week of continuous price increases. Currently, this precious metal is trading at $1873. With higher-than-expected inflation data announced on Thursday (US time), it has taken away the gains that gold had previously enjoyed due to safe-haven buying pressure, forcing the Federal Reserve to keep interest rates at a prolonged limited level. Although gold has reached its highest level in 2 weeks and is very close to $1900 per ounce, it has not been able to maintain that increase. The higher CPI data from the US has limited the upward momentum of gold on Wednesday. This has put pressure on gold and it is likely to have a downward trend in the near future. My target is $1835.
OANDA:XAUUSDShort
by Samson-FX
Latest EURUSD analysis and update todayCurrently, the EURUSD exchange rate has regained momentum and risen to its highest level in two weeks, trading at 1.0625 at the time of writing. Since its last decline at 1.0447, the EU seems to have found support at this significant level. Currently, the price is approaching the resistance level at 1.0640. By maintaining its current upward momentum, there is a possibility of a sustained recovery up to 1.0680, with short-term price corrections along the way.
Long
by Samson-FX
USD/JPY fluctuated nearly 149.00 before the US CPI indexCurrently, USD/JPY has ended its two-day uptrend and is trading lower around the 149.00 level in the Asian trading session on Thursday. The USD/JPY exchange rate is facing challenges due to the possibility of the Federal Reserve (Fed) ending its interest rate hike cycle. Accordingly, the Federal Reserve of the United States (Fed) will abandon the idea of raising interest rates. Fed Governor Christopher Waller supports a cautious approach to interest rate developments, stating that tightening financial markets "will be helpful to us." Fed Governor Michelle Bowman leans towards another interest rate hike due to persistent inflation above the Fed's 2% target. Technically, this currency pair is consolidating after breaking out of the uptrend channel at 149.01. However, in the long term, a slight downward correction is expected before reaching the 150.14 level. Surpassing this increase will help propel this currency pair to a new figure at 150.50.
Long
by Samson-FX