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Increase sharply after the job report, gold promises 1800 USD?Hello to all my beloved companions! Today, the price of gold got off to a promising start as it traded at its highest level in many months, reaching $1832 USD. This positive momentum was fueled by anticipated good news from the United States. The precious metal experienced a turnaround due to optimistic employment data, which suggests that the US Federal Reserve (Fed) may not proceed with any further interest rate hikes this year as originally predicted. Consequently, the value of the US dollar has declined for three consecutive sessions. It is worth noting that while gold has been on an upward trajectory recently, this trend may only be temporary given the persistent strength of the dollar. On October 12th, there will be an announcement regarding September's inflation index (CPI) in the United States. If this index shows a decrease for September, it is likely that interest rates will remain unchanged by the Fed. Conversely, if CPI exceeds expectations and increases significantly, it could prompt an interest rate hike by the Fed and potentially cause gold prices to drop below $1:800 per ounce threshold.
OANDA:XAUUSD
by Samson-FX
EUR/USD reaches the highest level in a week at 1,0600Yesterday, there was further upward movement in the Eurusd currency pair as anticipated. The Eurusd pair reached a weekly high at $1.0600 and is presently trading steadily at $1.0584, indicating a marginal weekly increase. Surprisingly, the US dollar experienced continued weakening on Friday, which provided strong support for the Eurusd pair to persist. According to the one-hour chart analysis, this particular currency duo is experiencing an expansion in its uptrend. Gold prices are expected to maintain their upward trajectory towards 1.061 before encountering resistance and potentially retracing towards 1.052 levels. On the flip side, if there is a breakout above 1.061 levels witnessed in this currency duo's price action, it would propel it further upwards towards 1.083 USD mark
by Samson-FX
Gold reversal, long -term analysisGreetings, everyone! Today, as anticipated, the price of gold remains on a downward trajectory. The precious metal is facing challenges in terms of increasing its value, which may result in the US Federal Reserve (Fed) maintaining higher interest rates for an extended period. Consequently, sellers are likely to exert further pressure on gold prices, currently at $1822, with an anticipated decline to $1804. This downward trend will persist until any positive developments take place.
OANDA:XAUUSDLong
by Samson-FX
5
Gold passes, waiting for newsHello everyone! The 45-minute prime time period appears to be relatively stable compared to yesterday's trading session. At the moment, the price is hovering between USD 1829 and USD 1812. Currently, it stands at USD 1819, experiencing a slight decrease of 0.05% per day. Today, there will be news surrounding the US non-agricultural payroll data which will impact gold prices. Given the ongoing pressure on precious metals, it is anticipated that gold will continue its downward trend with a support level targeted at USD 1800.
OANDA:XAUUSD
by Samson-FX
World gold continues to plummetHello everyone! Gold continues to maintain its record low today. The price of gold globally fluctuated between 1,820 and 1,830 USD/ounce last night. As of 6 a.m. on October 4th, the current price of gold is trading at 1,824 USD/ounce, which is a slight decrease of 3 USD compared to the previous day's price of 1,827 USD/ounce. According to the Federal Reserve (FED), inflation remains too high and interest rates need to be increased in order to control commodity price pressures. Consequently, the yield on US Treasury bonds with a maturity period of ten years surged to 4.75 points, leading to a strong influx of capital into bonds and adding further downward pressure on gold prices today as they continue their plunge into depths.
OANDA:XAUUSD
by Samson-FX
USDJPY with a significant decreaseHello everyone, Samson here. Let's discuss USDJPY today. Today, the Minister of Finance of Japan reiterated that the exchange rate must remain stable, reflecting fundamental principles and the government's readiness to take necessary actions to counter excessive volatility without excluding any options. This, along with overall weak risk sentiment, could benefit the Japanese Yen (JPY) as a safe haven and help limit the appreciation of the major currency. Looking at the technical picture on a H4 timeframe, this currency pair has broken a significant upside level at 148.96 USD. It is currently trading at 148.75 USD, which represents a notable decline for this pair. This indicates that the next trend for this pair is likely to be bearish as it has not been able to surpass 150.00 USD as anticipated. According to Samson's analysis, this currency pair will undergo a retest of support at 147.58 USD before any new developments occur.
Short
by Samson-FX
GBP/USD fluctuates within 1,2200Greetings, everyone! As anticipated, the GBPUSD pair has maintained its upward trajectory. The US market data indicates strong growth. Moreover, the Federal Reserve's commitment to further strengthening prospects supports the rising interest rate of US Treasury bonds and delays adjustments for this week compared to the beginning of the year. This, coupled with expectations that the Bank of England (BoE) will once again keep interest rates unchanged in their upcoming November meeting, contributes to limiting fluctuations in the GBP/USD exchange rate. As a result, buyers in gold are continuing to drive up prices on this currency pair which currently stands at $1,218; it is projected to increase further towards $1,227. The upward trend will persist until resistance is met at its peak and breaks through the current pattern.
Long
by Samson-FX
EURUSD analysis todayGreetings, everyone! Presently, the EUR/USD pair is experiencing a favorable trajectory as anticipated, currently trading at 1.0544. The decline in value of the US dollar and the continuous support from US Treasury bond interest rates are contributing to the strength of this currency pair. When examining the technical analysis on a one-hour time frame, we can observe that this particular currency pair is predominantly trending upward. It is projected to potentially rise to 1.059 before retracing back to its support level at 1.057, followed by another significant surge in value.
Long
by Samson-FX
USD/JPY consolidated nearly 148.50 lossesOn Thursday, there is significant selling pressure on USD/JPY, with the pair trading around 149.00. The long decline of the US dollar and the interest rate of the US Treasury bond have heavily impacted this currency pair. Additionally, concerns about Japanese intervention have further weighed down on USD/JPY. Taking a closer look at the technical analysis on the H4 time frame, it is evident that there is an overall uptrend in this market. According to Samson's perspective, before initiating any upward movement, this currency pair will need to test and hold support at 148.07.
by Samson-FX
1
EUR/USD: The decline in pressure decreases above 1,0545 - UOBA few days ago (on October 3, at the spot rate of 1.0480), Samson emphasized that the EUR "is still in a downtrend phase and is likely to weaken to around 1.0430, possibly below 1.0400." The EUR dropped to 1.0447 and has since rebounded. The downward momentum is starting to slow down, and if the EUR surpasses the level of 1.0545 (with no significant change in 'strong resistance' from yesterday), it means that the level of 1.0430 will not appear during this period.
by Samson-FX
GBP/USD is now seen in the unified range Today, the GBPUSD has experienced a significant increase after breaking through the downtrend, currently trading at 1.213. The latest report from Samson, which was two days ago (October 3rd), stated that the immediate delivery was at 1.2090. Samson emphasized that "the recent weakness of GBP continues and is likely heading towards 1.2000." Yesterday, GBP dropped to 1.2039 and then made a strong recovery to surpass our "strong resistance" level of 1.2160. Breaking through this "strong resistance" level indicates that the downward momentum is weakening. The current price volatility may be part of a trading range phase, potentially ranging from 1.2030 to 1.2270.
Long
by Samson-FX
Gold price has not escaped from the decrease cycleHello everyone! Today, the price of gold has dropped to its lowest point in 7 months. This decrease is a result of rising export benefits and inflation in the US, which is leading to expectations of tighter monetary policy. Gold has been steadily declining since it failed to receive a price increase from $2068 USD and is now trading at $1823. While there have been some signs of recovery, they are not significant. On the other hand, there has been a strong increase in the US dollar index (DXY) due to data showing an unexpected rise in job opportunities during August. In the previous session, this index experienced a breakthrough from over 105 points to over 106 points. This is significantly higher than the threshold of 100 points set back in mid-July. Another factor contributing to gold's decline is its close relationship with oil prices, which have also cooled down recently.
OANDA:XAUUSDShort
by Samson-FX
Gold increased slowly, market analysisHello everyone, this is Samson speaking! Yesterday, the gold market experienced strong buying pressure as the latest report showed signs of cooling in the US labor market. Despite facing negative pressure from a strong USD and high US bond yields, disappointing employment data has generated some momentum for gold buying as prices rose to positive territory at the start of the trading session. However, the increase in gold prices was relatively slow. The USD continues to remain high. In the short and medium term, gold still faces pressure from tight monetary policies in the US. The Federal Reserve will continue to raise interest rates and maintain them for an extended period of time.
OANDA:XAUUSD
by Samson-FX
Gold consolidated on the Bear sideHello everyone! Let's explore and discuss with AD! Currently, the price of gold is trading at $1842, the lowest level since March 10, putting the last quarter of this year in a negative state. The USD is strengthening its strong recovery compared to before, reinforced by the recent price increase of the US dollar. Looking at the D1 chart, we can argue that any correction in the price of gold from its lowest level in 7 months may encounter minor obstacles at $1,850, above which the highest level on September 28 and 29 is $1,880, will emerge as a strong resistance level.
OANDA:XAUUSD
by Samson-FX
Gold is about to reach 1800 USD?Hello everyone! Today, the price of gold has once again experienced a downward trend. After falling below the $1,900 threshold, gold has steadily decreased and is presently being traded at $1,818 with indications that it may soon reach the $1,800 range. Increasing US bond yields and a stronger USD are persistently posing threats to precious metals and exerting pressure on them. This can be observed from the continuous decline in gold prices during this particular period.
OANDA:XAUUSD
by Samson-FX
1
USDJPY analysis today (October 3)The USDJPY pair is maintaining a high level today, currently trading just below the 11-month high of 150.00 at around 149.68. The couple is waiting for signals from the Japanese government while taking into account the impact of words spoken by officials. The strengthening US dollar and higher yields on US treasury bonds have been driving this currency pair. Analyzing the technical outlook on the D1 timeframe, it is evident that the overall trend remains bullish, indicating that market sentiment still favors buyers. Therefore, it would be wise to align with the main trend and expect a minor adjustment in the short term that may not be significantly impactful.
by Samson-FX