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XAUUSD today !Looking at the XAUUSD 2-hour chart you provided, we can see that the price is currently trading around $2,658 after a slight retracement from the resistance zone around $2,685. The chart shows that gold is still facing pressure from the resistance zone marked by the orange rectangle at the top, which has been tested several times but has not yet been decisively broken. Technical Analysis: Resistance Zone: The resistance zone near $2,685 seems to be acting as a strong barrier, with prices reacting negatively whenever they come close to it. If this resistance holds, we could expect a further pullback. Support Zone: The blue support area around $2,620 is clearly a critical zone. Any price movements down to this area may offer strong buying interest. A bounce from this level could signal a continuation of the upward trend. EMA Levels: The price is still above both the 34 EMA ($2,653) and 89 EMA ($2,641), indicating that the overall trend remains bullish, although short-term corrections are expected. RSI Divergence: On the RSI, we see multiple bearish divergence signals, which suggest that the upward momentum is weakening. This might indicate a potential retracement in the short term before a stronger move upwards. News Influence: The hot geopolitical tensions and economic data are fueling uncertainty, which often benefits gold as a safe-haven asset. Recent developments, such as uncertainty around global inflationary pressures and the Federal Reserve’s cautious approach to interest rate hikes, continue to support gold prices. Investors are still considering gold as a hedge against these factors, further strengthening the bullish outlook. In summary, we are in a phase where a potential retracement toward $2,620 may happen before we see another push toward breaking the $2,685 resistance level. If this break occurs, we could see gold targeting $2,700 and even higher toward the $2,750 psychological level. What do you think? Will the support hold, or do you see further downside potential before the next move up? Let's discuss!
OANDA:XAUUSDLong
by ConanTradingFX
Gold Price Today: Popular Selling StrategyHello dear traders! Today, the gold market continued to decline sharply, reaching $2635, losing more than 100 pips after yesterday's trading session. This comes from a strong wave of profit-taking by short-term investors as the third quarter of 2024 ends. At the same time, the rebound of the USD has pushed gold prices into a more difficult position. On the technical chart, the downtrend remains firmly maintained as the parallel downtrend channel has not shown any signs of weakening. In particular, the EMA 34 and 89 have reversed, confirming that the price trend continues to face difficulties. Currently, any short-term recovery is a great opportunity to short. Traders can take this opportunity to continue targeting potential targets such as $2630 and further to $2615 - $2605.
OANDA:XAUUSDShort
by ConanTradingFX
GBPUSD: Should I Buy or Sell?Hello traders! GBP/USD extended losses to 1.3300 during European trading hours on Tuesday after failing to hold gains above the 1.3385 support level on the high-level rising wedge. However, Fed Chair Powell’s less dovish comments and cautious sentiment kept the US dollar supported ahead of the US ISM manufacturing PMI, JOLTS job openings and Fedsepak. The current bearish correction looks far from over. The first support zone to watch is 1.3321, followed by the previous support around 1.3170.
Short
by ConanTradingFX
1
EURUSD: Bearish momentum remains strong!Hello everyone! Today, let's review the EURUSD pair's performance last week and discuss suitable strategies for the current trend with Conan! Currently, EURUSD is stuck in a downtrend, with the price trading below the important support zone of 1.1125 and currently hovering around 1.1115. Notably, the pair is still below the two important EMAs 34 and 89, suggesting that any recovery attempt will face strong resistance zones indicated on the chart. The bearish outlook for EURUSD remains high as the long-term trend is still biased to the downside, with the short-term target towards 1.1090. Given the current technical situation, the possibility of further decline is quite high, but of course, everything is possible. What about you? Do you think EURUSD will continue to decline today? Let's analyze and discuss the most appropriate strategy for this market!
Short
by ConanTradingFX
1
EURUSD: Join the purchase!EUR/USD is hovering below 1.1200 in early Monday morning in Europe. The pair lacks fresh directional momentum, awaiting flash German CPI data and Fed Chair Powell’s speech. More stimulus efforts from China help keep risk sentiment sweeter amid Middle East risks. Given the current market conditions, it looks like EUR/USD will continue its larger uptrend, as the chart shows. The first resistance zone to watch is 1.1200, followed by the upper channel resistance around 1.1240
Long
by ConanTradingFX
XAUUSD: Buyers still have a chance.The price started the week with a spike near the dynamic resistance at $2670, but quickly retreated after the reaction, currently at $2653 and down 0.17% on the day. Although the price of gold has been slightly negatively affected by the market after lacking the momentum and fundamental news to break above the psychological resistance at $2700, this can be seen compared to the 2685 setup. However, the outlook for the metal remains bright at high prices, despite profit-taking from the market. The only concern from the market going forward is the NFP news, which, coupled with concerns about the situation in the Middle East and interest rate cuts and expectations of further adjustments in the future, will have a positive impact on the price of gold. Traders can consider buying when the price drops to the support level around $2625.
OANDA:XAUUSDLong
by ConanTradingFX
Gold prices tend to decrease at the weekend!Hello everyone, Conan here. Today, gold prices are showing a downward trend. After failing to break through the resistance levels of 2670 - 2680, the price has started to decline and is currently trading around 2658 USD. This drop has been supported by some USD buying activity, which tends to weaken demand for this commodity. Additionally, the optimistic market sentiment, fueled by new stimulus measures from China, turned out to be another factor pushing money away from the safe-haven precious metal. As seen on the 1-hour chart, gold prices are still reacting around the EMA 34, and the descending wedge pattern remains unbroken, indicating that the downtrend is not over yet. Based on these factors, in my personal opinion, gold prices are likely to continue falling in the near future, possibly reaching a lower level around 2640 USD.
OANDA:XAUUSDShort
by ConanTradingFX
XAUUSD 29/09/24This week on gold, we maintain a similar overall outlook, with the price action expected to continue moving upward. Take note of the previous high. If a pullback occurs due to any fundamental factors, particularly the potential conflict in the Middle East, there may be opportunities to go long from the highlighted areas. However, if no pullback occurs, expect the price action to continue rising. If we move higher from the current levels, the recent high will likely be taken out. Conversely, if we move lower from our current position, the probability of reaching the high remains strong. Be sure to note the liquid lows, which are in line with both the short-term trajectory and the longer-term trajectory, aligned with higher timeframe demand.
OANDA:XAUUSD
by PipSurfingSociety
EU continues multi-day uptrend!Hello everyone! Currently, the EU is maintaining a slight upward momentum, despite a short decline from 1.2000 and closing the week around 1.1159. This has many people worried about the possibility of further declines, but don't be nervous! The price channel is still holding and the cup-with-handle pattern is gradually completing, promising to trigger a new growth wave in the medium term. So, as long as the price channel remains in an uptrend, the market will continue to explode, and the Buy strategy will still be a good choice for the upcoming trading sessions. Once the EU breaks above 1.1200, it will not be difficult to move further to new highs in the short term. What do you think about this view?
Long
by ConanTradingFX
GBP/USD: Outlook Continues to Be Bullish!Currently, GBP/USD is hovering around 1.3376, down 0.34%, but the uptrend is likely to continue strongly. Although the current price action is bearish, this is not a cause for concern as the price channel and EMA 34.89 do not show any significant signs of reversal (which could, on the contrary, bring positive momentum). It is worth noting that the nearest resistance at $1.3450 is forming a cup and handle pattern on the 1-hour chart, signaling a clear upside potential before the close of this week's trading session. If buyers can hold the dynamic support around 1.3350, I believe GBP/USD will continue to advance towards the target of 1.3500, especially if there is important news released during the day. Traders can consider entering long positions around 1.3360, holding to take advantage of the uptrend, with a target of taking profit at 1.3500. What do you think about this view?
Long
by ConanTradingFX
USD/JPY Breaks ResistanceToday, USD/JPY is holding steady around 145.00, and when I look at the daily chart, I see that the pair has broken the neckline at 144.50, which is a clear sign that the uptrend is gradually returning. This opens up the prospect of stronger growth in the near future. According to my analysis, as long as USD/JPY holds above 144.70 (with important support at 144.50), we can expect the bullish momentum to continue. My immediate profit target is 147.00, and given the current situation, the possibility of reaching this level in the short term is very positive.
Long
by ConanTradingFX
EUR/USD: Upside momentum becomes attractive!During the European session on Thursday, EUR/USD traded more steadily near 1.1150, supported by a fresh sell-off in the US dollar. Risk sentiment is weighing on the safe-haven greenback as all eyes turn to upcoming key speeches from ECB President Lagarde and Fed Chairman Powell. Looking ahead, I expect EUR/USD to remain bullish as long as the price remains above the key 34-EMA. The first resistance I target is the 2024 high at 1.1214 (September 25), followed by the 2023 high at 1.1275 (July 18). Wish you all, profitable trading!
Long
by ConanTradingFX
Gold prices continue to hold high amid profit-taking pressureHello everyone, let’s join in analyzing today’s gold prices! XAUUSD is continuing its strong uptrend, currently trading around $2,659. In the short term, the bullish momentum is clear, with the trendline, EMAs, and other technical factors all supporting buyers despite previous pressure. However, with the profit-taking resistance still intact at $2,670, buyers may significantly weaken, especially with today’s scheduled news, which could cause major volatility. Traders might consider selling if the price forms a double top around $2,670, with a target of $2,625. SELL GOLD: 2670 - 2672 STOPLOSS: 2675 TP: 2640 , 2625 Wishing you all successful trades and great profits!
OANDA:XAUUSDShort
by ConanTradingFX
GBP/USD continues uptrend from 1.330Conan says hello to everyone! Today, we are seeing the GBP/USD pair struggling around 1.3400 in the European session on Wednesday, as it reversed from a 30-month high of 1.3430. It seems that many traders are taking profits from long positions in the British Pound, putting pressure on the pair, despite the weakening US Dollar and the market still in a risk-on trend, according to Fedspeak experts. Furthermore, from the chart analysis, the uptrend is still working very well with the price increasing continuously and there is no sign of a significant drop that will put the currency in a precarious situation. The current price is retracing to test the 0.618 FIbonacci level at 1.330. After that, at this point, we can expect the price to recover, aiming higher in the near term.
Long
by ConanTradingFX
Will Gold Break Resistance at $2,670?Hello everyone, Today, the price of gold (XAUUSD) continues to hold steady around the highs, with the resistance level of $2,670 on the 4-hour chart still intact. Currently, gold is hovering around $2,653, down slightly by 0.14% on the day. On the technical chart, it is worth noting that the resistance at $2,670 may be under pressure from profit-taking after yesterday's action. The RSI is trending down, although the price is still supported by the 34 and 89 EMAs, with a dynamic support level around $2,610. The rising DOW also suggests that the price of gold will continue to rise without any significant reversal signs. Based on the Fibonacci level, if the rally continues, the next recovery level could be $2,625 (0.618). New take profit level to watch: 2743 Support level to watch: 2625, 2611 What do you think about this assessment?
OANDA:XAUUSDLong
by ConanTradingFX