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Analyzing USD/JPY: Short-Term Price Appreciation OutlookBased on technical analysis, recent price action continues to reflect a phase of consolidation in the upward trend following a strong rebound from the lowest level in March. Additionally, other technical indicators on the chart remain positive and have not reached overbought territory. This suggests the potential for short-term price appreciation in the USD/JPY currency pair. However, caution is advised, and further confirmation is awaited for a breakthrough above significant resistance around the 152.00 level established last week before considering any further bullish actions.
by Ariana_alila
The price of gold continues The price of gold XAU/USD has recorded a significant increase, reaching nearly $2,250 at the start of the Asian trading session on Monday, attracting investors' attention amid expectations regarding the Federal Reserve's monetary policy, political tensions in the Middle East, and hopes for China's economic recovery. Furthermore, traders will focus on China's Caixin Manufacturing PMI and the ISM Manufacturing PMI of the United States. If the US PMI reports better-than-expected results, it could boost the value of the USD and limit the upward momentum of gold in the upcoming period
OANDA:XAUUSD
by Ariana_alila
1
GBP/USD analysis: Buy or Sell?Based on the indicators on the 1-hour chart, Relative Strength Index (RSI) is hovering around 40 and the price is below the 20, 50, and 100 Simple Moving Averages (SMA), indicating a downward trend phase. If the price continues to decline and breaks below the support zone at 1.2590, there is a likelihood of a more significant downtrend in the near future. Conversely, if the price shows signs of reversal and begins to recover, it is likely to encounter resistance around the level of 1.2640.
by Ariana_alila
Euro/USD continues to sustain a downward trendCurrently, the price of the EUR/USD currency pair is hovering around the level of 1.0780. Based on technical analysis, the overall trend in the market is showing a downward movement for this currency pair. One of the commonly used indicators, the Relative Strength Index (RSI), is below the 50 level, indicating a weakening buying momentum in the market. Additionally, the price of this currency pair is below the 20, 50, and 100 Simple Moving Averages (SMA), confirming that the downward trend is still intact.
by Ariana_alila
1
Decline in the Yen (UJ) impacts the Dollar (USD)During the past trading week, the USDJPY currency pair closed at 151.342. This signifies that within the market context, the Japanese Yen has maintained its strength against the US Dollar. Based on these developments, the forecast for the upcoming week is for the downward trend to persist. From a technical standpoint, charts and technical indicators have indicated a significant decline in USDJPY. This occurrence typically arises when concerns regarding the US economy emerge. Additionally, from a fundamental perspective, economic data has also pointed towards some uncertainties surrounding the US economy, leading to an increase in demand for the Yen (UJ). This could potentially result in a depreciation of the Dollar (USD) against the Yen (UJ) in the upcoming period.
by Ariana_alila
Consider short-term buying of Euro in the upcoming periodBased on the daily timeframe analysis, we observe that the price of Euro is currently below both the EMA 34 and EMA 89 lines. Particularly, the EMA 34 is trending downwards and shows signs of crossing below the EMA 89 in the near future. This indicates a potential downtrend for the Euro towards the support level at 1.0709. Investors and traders may need to pay attention to short-term trading opportunities in this context, with profit potential from buying into the mentioned support zone. However, monitoring market trend developments and other technical signals is crucial to ensure accurate and effective trading decisions.
by Ariana_alila
Gold price analysis for the week aheadIn the serene atmosphere of the Easter holiday, the price of gold is currently holding at an all-time high of $2,236 USD. Most major markets around the world remain closed, despite the US releasing its core PCE inflation figures, a preferred inflation gauge of the Federal Reserve. Investors are expressing confidence in gold as they anticipate the Federal Reserve to cut interest rates three times in the coming months. Looking at the weekly chart, there are still indications that the price will continue to rise in the near future. However, it is expected that in the upcoming week, the price may experience a short-term retracement towards the support level around $2080, before resuming its upward trajectory.
OANDA:XAUUSD
by Ariana_alila
2
USD/JPY is holding steady at 151.40 and is expected to declineTechnical analysis indicates that the EMA 34 has crossed above the EMA 89, forecasting a continuation of the upward trend. However, the USD/JPY is currently moving sideways and stabilizing around 151.40, and forecasted decline due to the cautious stance of the Bank of Japan (BOJ) on interest rates. Japanese Finance Minister Suzuki expressed concern about the volatility of the USD/JPY and readiness to intervene to ensure exchange rate stability, emphasizing the importance of currency stability.
by Ariana_alila
EUR/USD dips below 1.0800, forecasting a notable declineEUR/USD pair broke below the 1.0800 threshold on Thursday, hitting a new low for March at 1.0773-1.0774. Despite bouncing back from such lows, the pair still maintains a negative tone and stability around the 1.0790 price level. The US dollar has benefited from positive comments from the Federal Reserve officials, with Governor Chris Waller confirming that the central bank is not keen on swiftly cutting interest rates. Of note, the US dollar has gained momentum from upbeat remarks by Federal Reserve officials. Governor Chris Waller even affirmed that the central bank has no intention of hastily reducing interest rates. In the near term, the 4-hour chart also continues to support the downtrend as EUR/USD remains below the 39 and 89 EMA lines, indicating the potential for a significant decline. Other technical indicators continue to decrease into negative territory, reflecting increased selling pressure.
by Ariana_alila
Gold Forecast is to riseWhile US bond yields are rising, the price of gold continues to trend upwards. Strong statements from a Federal Reserve policymaker and positive economic data from the US have kept both the US dollar and gold stable. Currently, XAUUSD has increased by more than 1.20%. The upward trend in gold remains intact after surpassing the previous peak at 2,223 and establishing a new high at 2,236. This trend is expected to continue without signs of weakening. Technical indicators also support this positive trend. Therefore, the likelihood of price increases is higher if buyers continue to hold gold trading prices higher, paving the way for a challenge to the $2,300 level. However, if XAU/USD drops below $2,200, consider selling gold, with support likely around $2,146. This could lead to a significant decline in the price of gold, pushing XAU/USD down to $2,100 and subsequently to $2,088
OANDA:XAUUSD
by Ariana_alila
1
GOLD's New Bullish CycleWe are close to my previous price target for GOLD: In recent weeks, Gold has captured the spotlight by surging to all-time highs, signaling a potential shift in the precious metal's market dynamics! The breakout has garnered attention from investors, raising expectations for a new bullish cycle, with some setting a price target of $2500. Historically, gold has been perceived as a safe-haven asset, particularly during times of economic uncertainty, geopolitical tensions, or inflation concerns. The recent surge in gold prices suggests that investors are increasingly turning to the precious metal as a store of value and a portfolio diversifier. The $2500 price target underscores the optimism surrounding gold's future prospects!
COMEX:GC1!Long
by TopgOptions