Get started

Forexsignal

GBP/JPY: Assessing Market Sentiment for Reversal SignalsGBP/JPY Poised for Reversal Amidst Diverging Correlation with GBP/USD GBP/JPY experienced a robust bullish rally in recent days, surging to the 193.5200 level after the FOMC announcement. However, signs suggest that the pair may be gearing up for a retracement. Interestingly, the correlation between GBP/USD and GBP/JPY appears to be diverging, particularly evident in the H4 timeframe where their movements are typically less correlated. While we anticipate a long setup in GBP/USD, our focus in GBP/JPY is on a potential reversal, possibly indicating a deep correction. Looking ahead, investors will closely monitor the Bank of England (BoE) policy announcements and key US economic indicators, including the weekly Initial Jobless Claims and S&P Global's preliminary Manufacturing and Services PMI data for March. Concurrently, US stock index futures indicate gains ranging between 0.4% and 0.9%, suggesting a positive market sentiment. Absent any unfavorable data surprises, continued risk appetite in the market following the opening of Wall Street could exert additional downward pressure on the USD. With these factors in mind, we are eyeing a reversal scenario in GBP/JPY, anticipating potential downside movement in the pair.
Short
by FOREXN1
4
GOLD BUY CONFIRM SIGNAL 100% Gold has been considered a highly valuable commodity for millennia and the gold price is widely followed in financial markets around the world. Mostly quoted in US Dollars (XAU/USD), gold price tends to increase as stocks and bonds decline. The metal holds its value well, making it a reliable safe-haven. It's traded constantly based on the intra-day spot rate. Improve your technical analysis of live gold prices with the real-time XAU/USD chart, and read our latest gold news, expert analysis and gold price forecast Gold price edges lower on Friday amid some follow-through US Dollar buying interest. The Fed’s projected three rate cuts in 2024 will likely cap the USD and limit losses for the metal. Traders look forward to Fed Chair Jerome Powell’s speech for short-term opportunities Gold price (XAU/USD) retreats after hitting a fresh record high earlier this Thursday and trades just above the $2,200 round-figure mark during the first half of the European session, still up for the second straight day. The prevalent risk-on environment – as depicted by a generally positive tone around the equity markets – prompts some profit-taking around the safe-haven precious metal. Apart from this, a modest uptick in the US Treasury bond yields turns out to be another factor undermining the commodity amid slightly overbought conditions on short-term charts. gold buy 2174 tp1 2178 tp2 2182 tp3 2200 tp4 2210 tp5 2220 sl 2150
OANDA:XAUUSDShort
by Mark804
1
Gold plummeted after a record riseWorld gold prices decreased slightly with spot gold down 5.1 USD to 2,181 USD/ounce. Gold futures last traded at 2,183.9 USD/ounce, down 5.6 USD compared to yesterday morning. Although almost unchanged compared to yesterday morning, the price of the yellow metal has dropped sharply during the day. On March 21 (US time), gold continuously conquered record highs thanks to the dovish speech of the US Federal Reserve (Fed) at the latest policy meeting. The precious metal hit an all-time high of $2,222.39 per ounce as the Fed signaled it would continue to cut interest rates three times in 2024 despite rising inflation. Despite rising inflation, Fed Chairman Jerome Powell still said that the US Central Bank has the ability to reduce interest rates by three-quarters of a percentage point by the end of 2024. However, the Fed's decision will depend on data. The economy is here. The Fed's stance pushed the dollar to its lowest level in a week, while also causing US 10-year Treasury yields to fall. Meanwhile, gold prices continuously increased. Witnessing strong buying force after the meeting, Reuters technical analyst Wang Tao optimistically predicted that spot gold could retest the resistance level at 2,222 USD/ounce. If this threshold is broken, this precious metal can conquer levels in the range of 2,228 - 2,234 USD/ounce.
OANDA:XAUUSDLong
by FalCol_TradingMaster
USD/JPY at Critical Juncture: Evaluating Peaks and Intervention The USD/JPY has surged to multi-year highs in the 151.000s amid a broader strengthening of the US Dollar and shifting trade dynamics, exerting downward pressure on the Japanese Yen. Currently positioned at 151.590, the pair finds itself within a robust resistance zone, hinting at a potential retracement following the Federal Reserve's upcoming policy meeting. As the USD/JPY approaches a critical intervention zone, historically monitored by the Bank of Japan (BoJ) for FX market stabilization, there arises a likelihood of resistance to further appreciation. This intervention zone, noted by analysts at MUFG, underscores the BoJ's proactive stance in curbing excessive Yen weakness beyond the 150.000 threshold. The proximity to this intervention zone implies a possible inflection point for the USD/JPY, suggesting a pending reversal or consolidation in the near term. Such dynamics highlight the intricate interplay between central bank interventions and market sentiment, shaping the trajectory of currency pairs like the USD/JPY.
Short
by FOREXN1
4
XAUUSD Gold has been considered a highly valuable commodity for millennia and the gold price is widely followed in financial markets around the world. Mostly quoted in US Dollars (XAU/USD), gold price tends to increase as stocks and bonds decline. The metal holds its value well, making it a reliable safe-haven. It’s traded constantly based on the intra-day spot rate. Improve your technical analysis of live gold prices with the real-time XAU/USD chart, and read our latest gold news, expert analysis and gold price forecast. Gold price ticks lower amid reduced Fed rate cut bets, elevated US bond yields and stronger USD. Geopolitical tensions could lend some support to the safe-haven XAU/USD and help limit losses. On the flip side, the $2,175-2,176 region now seems to have emerged as an immediate strong barrier, which if cleared should allow the Gold price to challenge the record peak, around the $2,195 area touched last week. Some follow-through buying beyond the $2,200 mark will set the stage for the resumption of the uptrend witnessed since the beginning of this month. gold now buy 2153 tp1 2157 tp2 2161 tp3 2165 tp4 2169 tp5 2180 SL 2130
OANDA:XAUUSDShort
by Mark804
XAUUSD : Gold continues to wait for the FOMC meetingGold is under pressure as investors wait for the Fed interest rate meeting Gold recovered slightly as the USD slowed down and investors prepared for the Fed meeting on Thursday. During the March 18 session, gold fell sharply from $2,159 to $2,146 when the USD was supported by the increase in US government bond yields before turning up and ending the day around $2,160 when the USD leveled off. Precious metals cannot break out as economic data is still good and the Fed interest rate outlook is still "hawkish". There will be no important economic data from the US today and tomorrow until Thursday when the Fed's interest rate meeting begins. Currently, gold is trading around $2,160.
OANDA:XAUUSD
by SantaTradeGold
Usdjpy selling pressure read the caption USDJPY is churning chart paper just above the 149.01 handle as investors gear up for a central-bank-heavy week. The Bank of Japan (BoJ) is expected to deliver an update on its negative interest rate regime early in the Tuesday market session after Japan’s spring wage negotiations showed the highest wage increases in over three decades. The Federal Reserve (Fed) also expected this week and will drop its latest Dot Plot summary of interest rate projections on Wednesday
Short
by Mrsam36
Reduced slightly then increased againWorld gold prices increased slightly with spot gold increasing by 3 USD compared to last week's closing level to 2,161 USD/ounce. Gold futures last traded at 2,164.9 USD/ounce, up 1.3 USD compared to yesterday morning. World gold prices recovered slightly after falling to a one-week low on Monday as investors await a series of policy decisions from major global central banks, including the Federal Reserve. US Federal Reserve (Fed). Currently, the market is almost certain the Fed will keep interest rates at 5.25% - 5.5% at its policy meeting on Wednesday. Investors believe that the US Central Bank may reiterate its view of keeping interest rates higher for a longer period of time in the context that inflation is still "persistent". Traders are currently pricing in around a 56% chance that the Fed will cut interest rates in June. Higher rates reduce the appeal of holding non-couponing gold. Data released last week showed US consumer prices rose sharply in February and producer prices rose more than expected amid rising prices of goods such as gasoline and food. Gold lost 1% after the report.
OANDA:XAUUSDShort
by FalCol_TradingMaster
GBP/JPY Faces Selling Pressure Amid Economic UncertaintyDuring the early Asian session on Wednesday, the GBP/JPY pair grapples with selling pressure, hovering around the 190.000 mark. The price action reveals a swing reversal pattern, notably around the 61.8% to 78.6% Fibonacci levels following a double top formation. This sets the stage for a reversal swing trading strategy. Economically, all eyes are on the Federal Reserve's interest rate decision, expected to maintain rates unchanged for the fifth consecutive time. The focus will be on the Fed's stance on inflation, with Chair Jerome Powell hinting at the possibility of rate cuts later in the year, contingent upon sustained progress towards the 2% inflation target. Meanwhile, in the UK, inflationary pressures are easing, prompting caution from the Bank of England (BoE). Despite moderating inflation, the BoE remains vigilant until the Consumer Price Index (CPI) returns to the 2% target. With expectations of interest rates remaining steady at 5.25% during Thursday's BoE meeting, investors anticipate potential rate cuts starting in August, followed by additional cuts by year-end. Amidst this economic backdrop, our strategy revolves around a short position, complemented by a sell limit order at 191.500, capitalizing on the prevailing market conditions and anticipating potential price movements.
Short
by FOREXN1
1
GOLD BUY SHORTGold has been considered a highly valuable commodity for millennia and the gold price is widely followed in financial markets around the world. Mostly quoted in US Dollars (XAU/USD), gold price tends to increase as stocks and bonds decline. The metal holds its value well, making it a reliable safe-haven. It’s traded constantly based on the intra-day spot rate. Improve your technical analysis of live gold prices with the real-time XAU/USD chart, and read our latest gold news, expert analysis and gold price forecast. On the flip side, the $2,175-2,176 region now seems to have emerged as an immediate strong barrier, which if cleared should allow the Gold price to challenge the record peak, around the $2,195 area touched last week. Some follow-through buying beyond the $2,200 mark will set the stage for the resumption of the uptrend witnessed since the beginning of this month GOLD NOW BUY 2152 TP1 2156 TP2 2160 TP3 2165 TP4 2170 SL2140
OANDA:XAUUSDShort
by Mark804