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Technical Analysis

EURUSD: Opens up new bullish factors!Hello all of you! On Thursday, the EUR/USD pair rebounded to the highs of the recent consolidation period, surpassing the 1.0700 handle. This recovery comes as markets readjust to risk sentiment ahead of the release of the US Nonfarm Payrolls (NFP) report on Friday. Price action has taken place around the 34, 89 EMA, as the market waits for clear momentum to influence the direction of the trend. The 4H candles show a pattern of higher lows, strengthening the recovery momentum as the pair attempts to extend the upside movement from the swing low of 1.0600. EUR/USD is trading in an uptrend above the 34.89 EMA, and is expected to continue rising if it can overcome the 1,074 resistance.
Long
by RKarina
Update the latest XAUUSD todayHello everyone, today let's look at the price of gold together! Yesterday, gold fell to a low of 2282 USD. However, gold has now recovered and is fluctuating around 2,300 USD, crossing the EMAs 34 and 89 at a price of about 2,318 USD early on Thursday. The US Federal Reserve (Fed) decided to keep the benchmark interest rate unchanged from 5.25% to 5.5%, which still causes gold to go through an adjustment period. In the short term, gold prices may continue to decline due to increased pressure from profit-taking and short selling. However, over a longer time frame, many factors will support gold prices, including global economic uncertainties, geopolitical tensions and election uncertainty. As long as these tensions persist and economic policies continue to cause instability, gold will remain the foundation for stability. Trading plan for April 2: 👨‍💻 Buy XAUUSD around 2310 - 2308 🔹 Set stop loss at 2305 🔹 Profit target at 2315 - 2320 - 2225 Wishing you successful trading and achieving your profit goals!
OANDA:XAUUSDShort
by RKarina
XAUUSD : Trades around 2300 USDHi everybody! Today, gold prices cooled after initially rising slightly, recovering from key support levels. However, this momentum is limited by lingering expectations of higher interest rates in the US. The metal jumped to $2,300 an ounce in overnight trading, after the US Federal Reserve announced no immediate interest rate hikes, which weakened the dollar and supported a part for the price of the items. However, the Fed also showed caution, not rushing to cut interest rates anytime soon, which could limit any significant increase in gold prices.
OANDA:XAUUSDLong
by RKarina
Gold price today: Waiting for a new breakthrough!Hello everyone, currently the gold price is still fluctuating around 2300 USD and has not changed much compared to previous sessions. This metal is in the process of accumulation, waiting in a narrowing wedge pattern, preparing for a new trend while the market is eagerly awaiting information from the Non-Farm report. A breakthrough will be an important signal for gold's next move. Technically, the outlook is somewhat bearish, but we will update more information when there are official results to have a clearer view. Wishing everyone happy and successful trading!
OANDA:XAUUSD
by RKarina
Latest EURUSD update today!Hello everyone! Yesterday, after the announcement of the PCE news, EURUSD experienced a slight decrease in price. Currently, this currency pair is temporarily trading around the 1.069 level, ending the short-term uptrend at the 1.070 threshold. Looking ahead, it seems that EURUSD may have to undergo further adjustments according to Dow's theory, as it has tested the resistance zone and previously broken areas. What do you think - will EURUSD recover and increase next week, or are you predicting more price declines? Let's discuss your predictions and strategies!
Short
by RKarina
2
Gold grinds within the falling wedge ahead of the US NFPGold price brace for the second consecutive weekly loss despite downbeat US Dollar performance. In doing so, the precious metal seesaws between the 50-SMA and the 200-SMA while posting mild intraday losses within a two-week-old falling wedge bullish chart formation. That said, cautious sentiment ahead of the monthly US employment report and sluggish oscillators restrict the XAUUSD’s immediate moves within the bullish chart pattern. It should be noted that a downside break of the 200-SMA level of $2,289 will direct the sellers toward the stated wedge’s bottom line surrounding $2,278, a break of which will defy the bullish chart formation and can drag the commodity prices toward the early April swing high of around $2,265. On the contrary, a convergence of the 50-SMA and the previously stated falling wedge’s top line, close to $2,319-20, appears a tough nut to crack for Gold buyers. Following that, the late April swing high of around $2,353 and the $2,400 threshold will lure the XAUUSD bulls. In a case where the Gold buyers remain confident past $2,400, the theoretical target of the falling wedge confirmation, near $2,440, will be in the spotlight. Overall, Gold portrays bullish consolidation ahead of the key US employment data, despite the US Dollar’s downbeat performance.
OANDA:XAUUSD
by MTradingGlobal
$BTC Update: Falling Wedge PatternCRYPTOCAP:BTC Update: Falling Wedge Pattern Bitcoin is currently bouncing back within the yellow box but remains inside the Falling Wedge pattern/Bull Flag. Bulls need to surpass the $65,000 resistance level to confirm an upside breakout. If successful, we could see BTC headed toward $95,000 However, if BTC fails to hold the yellow Box support, expect potential downside to $50k and $40k. Stay cautious and keep an eye on these key levels! #Bitcoin #Crypto #TechnicalAnalysis
Long
by CryptoPatel
EURUSD: Waiting for a new breakthroughHello everyone, today, EURUSD continues to trade around a familiar level near 1,071 and maintains the long-term bearish trend. In terms of trend analysis: EURUSD will soon receive important information from the European HCOB Manufacturing Purchasing Managers' Index (PMI). This data will provide further insight into the pair's next direction. Short term: Today, EURUSD left the bullish channel and completed a retest of the trendline and Breakout area, which shows that sellers have the advantage. Therefore, the selling strategy is prioritized until the end of the day, before new information is released.
Short
by RKarina
GBPUSD: Technical uptrend continues!Hello everyone, today, GBP/USD rose to levels near 1.2535 early in the Asian session. This move was driven mainly by the significant weakening of the US dollar (USD) after the US Federal Reserve (Fed) decided to keep interest rates unchanged. Analysis from the chart shows that GBP/USD has broken away from the previous downtrend, starting to form a new uptrend with important support around the 1,247 area. Looking ahead, buyers appear to have the upper hand, with the next target being resistance at 1,256. If this uptrend continues, the next level could be 1,269, especially if GBP/USD can turn 1,256 into a new support area.
Long
by RKarina
GBPUSD bull’s journey to retake control appears long and bumpyGBPUSD grinds higher past 50% Fibonacci retracement of October 2023 to March 2024 upside as traders await more clues about Friday’s US employment report for April. In doing so, the Pound Sterling extends the late April rebound from a 61.8% Fibonacci ratio surrounding 1.2365, also known as the golden Fibonacci ratio. That said, the bullish MACD signals and a steady RSI (14) line also underpin the Cable pair’s recovery moves targeting the 200-SMA hurdle of 1.2550. In a case where the quote remains firmer past 1.2550, a five-month-old support-turned-resistance line around 1.2570 will test the buyers before directing them to a downward-sloping resistance line stretched from March, close to 1.2600. Following that, the 100-SMA hurdle of 1.2650 will act as the final defense of the sellers ahead of giving up control. Alternatively, the GBPUSD pair’s pullback could aim for the 50.0% and 61.8% Fibonacci ratios, respectively around 1.2465 and 1.2365. However, Pound Sterling’s fall past 1.2365 will make it vulnerable to drop toward the yearly low marked in April around 1.2300. It should be noted that the pair’s weakness past 1.2300 won’t hesitate to challenge the 78.6% Fibonacci retracement level of 1.2220 and the late 2023 low of around 1.2035. Overall, the GBPUSD pair is likely to extend the latest recovery but there are multiple resistances to challenge the bull’s confidence.
by MTradingGlobal
EURUSD drops toward key support line near 1.0600 on Fed DayEURUSD remains pressured at the lowest level in a week, extending the late April’s retreat from 20-SMA and a six-month-old support-turned-resistance, as traders await the US Federal Reserve (Fed) monetary policy announcements. The Euro pair’s weakness also takes clues from an impending bear cross on the MACD and an absence of oversold RSI conditions. With this, the quote is likely to extend the latest fall toward an ascending support line stretched from early October 2023, close to 1.0610 at the latest. Following that, the yearly low marked in April around 1.0600 and multiple lows registered during late 2023 near 1.0520 and 1.0490 will test the bears before directing them toward the previous yearly low of 1.0448. Alternatively, the US Fed’s inability to inspire the EURUSD bulls, mainly amid the high hopes, could trigger a quick recovery in the pair prices toward the 20-SMA hurdle of 1.0710. However, the quote’s further upside needs validation from the previous support line stretched from early November 2023 surrounding 1.0740. It should be noted that a convergence of the 200-SMA and 50-SMA, near the 1.0800 threshold at the latest, appears a tough nut to crack for the buyers, a clear break of which will enable them to confront the final defense of the sellers, namely a downward-sloping resistance line from December 2023, near 1.0865 as we write. To sum up, the EURUSD is on the way to testing the key support line as market players await the FOMC verdict. However, high hopes from the US central bank and a limited downside room for the pair suggest hardships for the sellers past 1.0600.
by MTradingGlobal
USDJPY reverses pullback from 34-year high on mixed Japan dataA mixed bag of Japan statistics triggered the USDJPY pair’s fresh run-up early Tuesday. In doing so, the Yen pair justifies mostly downbeat employment and activity data from the Asian major while reversing the previous day’s retreat from the highest level since 1990. Also favoring the upside bias are the bullish MACD signals and the quote’s U-turn from a seven-week-old rising support line, close to 154.70 by the press time. With this, the risk-barometer pair is likely approaching the 160.00 threshold. However, the overbought RSI conditions could challenge the buyers around the recent multi-year peak of 160.20. Even if the pair remains firmer past 160.20, the year 1990’s high of 160.40 and an upward-sloping resistance line stretched from late June 2023, around 161.60 at the latest, can prod the bulls. On the contrary, USDJPY sellers need validation from the aforementioned support line from early March surrounding 154.70, as well as FOMC and the US NFP, to retake control even for a short term. Following that, an 18-month-old previous resistance line near 151.75 and the bottom line of a 10-month-long rising wedge bearish chart pattern, around 150.80, will be in the spotlight. In a case where the Yen pair remains bearish past 150.80, the 150.00 psychological magnet and the 200-SMA level of 148.20 will act as the final defense of the buyers. Overall, the USDJPY pair remains bullish but the upside room appears limited as traders await this week’s key data/events, namely the monetary policy announcements from the Federal Open Market Committee (FOMC) and the monthly US employment report.
by MTradingGlobal
200-EMA tests AUDUSD bulls as Fed-NFP week beginsAUDUSD remains on the front foot at the highest level in nearly a fortnight, after jumping the most on a week since December 2023, during the early hours of the key week comprising the monetary policy meeting of the US Federal Reserve (Fed) and the US monthly employment report. In doing so, the risk-barometer pair justifies the upside break of the 100-day Exponential Moving Average (EMA), bullish MACD signals, and upbeat RSI (14) conditions. Given the US Dollar’s preparations for top-tier data/events, coupled with the bullish technical details, the Aussie pair is likely to overcome the immediate upside hurdle, namely the 200-EMA level surrounding 0.6570. However, a downward-sloping resistance line from early January, close to 0.6615 at the latest, will precede a 3.5-month-old horizontal resistance zone of 0.6640-50 to challenge the bulls. Meanwhile, AUDUSD sellers remain off the table unless the quote stays beyond the 100-EMA immediate support of 0.6542. Even if the quote slips beneath the nearly EMA support, the 61.8% Fibonacci retracement of October-December upside, close to 0.6500, and February’s low of 0.6442 will stop the bears from taking control. In a case where the Aussie pair remains bearish past 0.6442, the yearly low marked on April 19 around 0.6360 will be in the spotlight. Overall, the AUDUSD pair gains upside traction ahead of the key US catalysts but the bulls should remain cautious beneath 0.6650.
by MTradingGlobal