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Technical analysis shows that GOLD is likely to declineGold prices did not fluctuate much last Friday, basically oscillating around 2065, with an amplitude of $16, and finally closed with a Doji Star with long upper and lower shadows. It was a continuous trend from last Thursday. Recently, with the lack of crucial data and speeches, gold prices' volatility has fallen. The Red Sea situation continued to heat up last Saturday, and with the influence of geopolitics, gold prices could be supported. However, with optimistic rate-cut expectations to be adjusted, the overall gold price lacks direction, so it will mainly fluctuate! Looking at the technical chart, the current gold price is still under pressure in the resistance area of 2075-2080, which also indicates that gold prices do not have the momentum to break through that range in the short term. Judging from the 1-hour chart, the MACD golden cross began to widen, so a rebound can be seen at the hourly level. Investors need to watch for resistance near the MA60 around 2073. However, the MACD death cross in the 4-hour chart began to widen. It is estimated that gold has limited room for a rebound during the day. At the same time, the bearish divergence in the daily chart is prominent,so we do not recommend medium-term bullish investors buy gold now. Today, aggressive traders can still buy low and sell high in the range of 2055-2073.
TVC:GOLDShort
by carefulLion07pab
GBP/USD tends to increase when it meets supportThe GBPUSD has been forming an upward structure with higher highs after breaking above a key downtrend line in early November. Although the GBPUSD's uptrend came to a temporary halt at the four-month high level of 1.2826, the completion of the golden cross between the 50- and 200-day SMAs is expected to provide upside momentum. However, during the European session on Tuesday, the GBPUSD fell sharply during the day as the USD rose sharply and formed a death cross downward structure in the 4H timeframe, potentially creating more uncertainty for the GBPUSD in the near term. Now, we believe that as long as Wave 4 of the "upward impulse waves" structure has not been broken, the end of the "upward impulse waves" is still worth looking forward to. Given that the short-term oscillators are continuing to provide cautiously positive signals, the bulls may try to eliminate the latest weakness and overcome the December resistance at the 1.2794 level. A break above this resistance could open the door to a four-month peak at 1.2826. If it fails to stay here, the GBPUSD could move towards the June high of 1.2847 until it reaches the 1.2900 level. On the other hand, if the GBPUSD reverses lower, several previous support levels at 1.2642 and 1.2612 could now become the initial line of defense. A break below that bottom could see the price fall to recent support at 1.2611, or even lower, with upward Wave 4 1.2500 likely to provide a correction. Overall, risks remain cautiously tilted to the upside in the near term, even though the GBPUSD rally appears to be losing its momentum. To change this situation, the price cannot go below a series of key supports or the uptrend will be reversed. It is recommended to buy the dips.
Long
by carefulLion07pab
1
EUR/USD is trending downAs all investors anticipate for the upcoming Non Farm Payroll on Friday, the Dollar gains its strength on the 2nd day of 2024. Trading at 102.10, the US Dollar experienced a significant increase, indicating a noteworthy uptrend in the index. This upward shift can be attributed to market anticipation for guidance and investors turning to the USD as a safe haven in anticipation of key labor market reports scheduled for release later this week. The economic calendar will be packed with news releases starting on Wednesday, at 23:00 (GMT +8), we have the U.S. ISM Manufacturing PMI (Dec) and U.S. JOLTS Job Openings (SA) (Nov). Besides that, there will be a short FOMC Meeting coming up, it is something to look forward to as the Fed has been mentioning that rate cuts is around the corner, we could hear some dovish or hawkish comments coming up that would determine the Dollar direction for this week. EUR/USD was trending up aggressively until it got rejected by a strong resistance level at price 1.11392. It has also broken out of the short term uptrend support zone which indicates EUR/USD could be in a short term downtrend which is why I am interested in looking for shorts for short term. Besides that, one of the reason I am looking for shorts is we have a huge imbalance to be filled . The imbalance will be my take profit target for the shorts.
Short
by carefulLion07pab
Technical analysis shows that XAUUSD is likely to declineGold prices did not fluctuate much last Friday, basically oscillating around 2065, with an amplitude of $16, and finally closed with a Doji Star with long upper and lower shadows. It was a continuous trend from last Thursday. Recently, with the lack of crucial data and speeches, gold prices' volatility has fallen. The Red Sea situation continued to heat up last Saturday, and with the influence of geopolitics, gold prices could be supported. However, with optimistic rate-cut expectations to be adjusted, the overall gold price lacks direction, so it will mainly fluctuate! Looking at the technical chart, the current gold price is still under pressure in the resistance area of 2075-2080, which also indicates that gold prices do not have the momentum to break through that range in the short term. Judging from the 1-hour chart, the MACD golden cross began to widen, so a rebound can be seen at the hourly level. Investors need to watch for resistance near the MA60 around 2073. However, the MACD death cross in the 4-hour chart began to widen. It is estimated that gold has limited room for a rebound during the day. At the same time, the bearish divergence in the daily chart is prominent,so we do not recommend medium-term bullish investors buy gold now. Today, aggressive traders can still buy low and sell high in the range of 2055-2073.
OANDA:XAUUSDShort
by carefulLion07pab
NZDCHF | COULD BE A GOOD SELL Hey Traders! Here's an exciting update: We're looking at a promising bearish opportunity, with a target of at least 5283, and potentially even more. The market trend seems firmly bearish, and we've got an engulfing candlestick pattern confirming our entry point. The recent daily rebound off the 50-day moving average indicates that sellers are still active. Plus, the higher timeframe shows a broken neckline in a double-top pattern, hinting at a likely continuation. ✅📈 Manage your risk accordingly:)
Short
by FX-TradingLions
GOLD The upcoming release of the FOMC's minutes from its DecembeThe dollar rose modestly in today's Asian session, boosted by mild risk-on sentiment. Mixed data emerging from China's manufacturing PMI cast a shadow over market sentiment, contributing to a dismal start in Hong Kong's stock market. The HSI index is grappling with the fallout of its fourth consecutive year of losses as a prolonged period of underperformance continues. Conversely, the Japanese Yen is depreciating significantly while Japan is on holiday. A strong earthquake in central Japan on New Year's Day added uncertainty to the economic outlook. Investors are closely monitoring the situation, assessing the potential consequences of this natural disaster. In Europe, both the Swiss Franc and the Euro have seen the British Pound, meanwhile, show a mixed performance. Meanwhile, Aussie and Loonie are in a more secure position.
TVC:GOLDShort
by NicoTradingMaster
XAUUSD: Gold price strategy todayGold prices (XAU/USD) have extended their correction but consolidation is likely due to light trading activity. More broadly, precious metals could continue on a positive trajectory as bets in favor of an early Federal Reserve rate cut are firming as labor market conditions ease. and a clear downward trend in core inflation. This reduces the opportunity cost of holding the yellow metal and weakens the US Dollar, on which the metal is priced. Gold prices are expected to end 2023 with an outstanding gain of more than 13.50%. Deepening expectations of the Fed starting to cut interest rates from March 2024 will also continue to attract optimism in Gold prices going into 2024. Further action for Gold prices will be guided by the Index. US ISM Manufacturing and Nonfarm Employment PMI numbers for November.
OANDA:XAUUSDShort
by NicoTradingMaster
EURUSD Expected to go sideways todayThe euro's dance with the US dollar last Thursday painted a curious picture - a spirited attempt to soar, only to stumble in the face of market fatigue, as if gravity suddenly remembered its role in the financial theater. This fatigue is not a solo act; it has accomplices. The Euro's recent appreciation has exceeded its limits, like a rubber band being stretched too far. And the timing? Well, this is not only a festive season but also a season of financial scarcity. Liquidity tends to play hide and seek during this time of year, leaving the market feeling a bit dry. The market's recent trajectory has been like a rocket's flight - a surge that now appears to be paused in mid-air. This vacation isn't just about relaxing; It was a sigh of relief that echoed throughout the boardroom and trading floor. Oh, the holiday season! Nestled amidst the echoes of Christmas and the countdown to the New Year, this is the time when market dynamics take on a different tune. Famous traders, like children eagerly waiting for the last fireworks to go off before the show's finale, choose to sit this one out. There was a unanimous decision to stay trading for a while, thanks to the ongoing holiday mood.
by NicoTradingMaster
GBPUSD Trending strategies todayThe GBP/USD pair posted modest losses in early Asian trading on Tuesday. The modest recovery in the US Dollar (USD) brings some support to the major pair. At the time of writing, GBP/USD is trading near 1.2725, down 0.04% on the day. After the US Federal Reserve's (Fed) final meeting of the year in December, Fed officials kept interest rates steady for the third straight month and signaled a series of rate cuts in 2024. when inflation falls faster than estimated. Traders are betting on sharp interest rate cuts, starting in March. According to CME Group's FedWatch tool, markets are pricing in an 88% decline in March. Data released on Friday showed the US Chicago Purchasing Managers' Index (PMI) came in at 46.9 in December from 55.8 in November, weaker than estimates of 51.0. Market participants will get more cues from the US Nonfarm Payrolls (NFP) on Friday. This number is predicted to increase by 163K in December compared to 199K previously.
Long
by NicoTradingMaster
Today's EURUSD strategy will decrease again, what do you think On the hourly chart of EUR/USD at FXOpen, the pair started fresh gains above the 1.0930 zone. The Euro broke above the 1.0985 resistance area against the US Dollar. The pair even settled above the 1.1020 resistance and the 50 hourly simple moving average. Finally, it tested the 1.1040 resistance level. A high was formed near 1.1044 and the pair is currently consolidating gains. If there is a downside correction, the pair could test the 23.6% Fib retracement level of the upward move from the 1.0929 swing low to 1.1044 high at 1.1020. There is also a key uptrend line forming with support near 1.1020 and the 50 hourly simple moving average.
Short
by NicoTradingMaster
XAUUSD is likely to fall when it encounters resistanceThere were moderate movements during yesterday's Asian session and gold fluctuated slightly up from $2067. During the US trading session, gold quickly increased in price along with the depreciation of the USD and surpassed the resistance zone, once reaching 2084 USD. Finally, gold closed the daily chart on a positive note to post its fifth consecutive gain, showing a clear bullish trend. This is how trends work. Once it is formed, it will not change anytime soon and you will be taking a big risk if you act against the trend. However, it will depend on your trading cycle. For day trading, both bears and bulls have opportunities, and price and timing will be important. Currently, gold has hit previous resistance at $2070-$2075, which should become significant support for today's trade. If gold fails to fall below that range, it will reach new highs or even reach $2,100. In the 1H chart, a golden cross is expanding and it is away from the overbought zone, indicating more upside space. However, the MACD shows major pullback risks in the 4H and daily charts, and bearish divergence appears to be increasing. Therefore, investors who maintain an optimistic view in the medium term should not follow the current uptrend. Today, the trading range will be from $2070 to $2047, with aggressive investors advised to buy low and sell high.
OANDA:XAUUSDShort
by carefulLion07pab
GBPUSD is trending upSupported by positive market sentiment, GBPUSD rose above 1.2800 on Thursday and settled at the 61.8% Fibonacci retracement level at 1.2740 (from July 14 high of 1.3142). to an October 4 low of 1.2037). The rising 20-day exponential moving average (EMA) is placed at 1.2670, projecting continued upside support for the British pound. The relative strength index (RSI) has risen above 60. The sustained work on these technologies will trigger strengthening, the target gem completing the "upward impulse waves" at 1.3000. On the downside, activity below minor support at 1.2698 could cause trading sentiment to return to neutral. However, if free support at 1.2499 is maintained to prevent a downturn, further recovery phases remain beneficial. From a broader perspective, the action starting from the midpoint at 1.3141 is seen as a corrective pattern from the upside at 1.0351. Move up from 1.2036 is considered the second in progress (of this pattern). The upside is expected to be limited at 1.3141 to form the third component. At the same time, support functioning beyond 1.2499 would indicate the start of the third part of the uptrend. In terms of trading, buying at low prices is the recommended strategy.
Long
by carefulLion07pab
EURUSD is likely to increase when it bottoms againEUR/USD just hit a high, breaking through the 1.1020 and 1.1101 hurdles to reach 1.1121—a five-month high and up 0.72%. But it's the holiday season and the low trading climate can make things unpredictable. It's likely we will see a temporary spike in rates and then a drop below 1.10 as things return to normal. If you're thinking of selling, keep a close eye on any signs of change. Our next challenge? Resistance level 1.125—notice how the market behaves around that level. Once things stabilize and normal trading begins, we will get a clearer picture. We may be correcting back to the broken resistance level and we may have an opportunity to buy EURUSD at a discount targeting the resistance zone.
Long
by carefulLion07pab
Gold is likely to fall when it encounters resistanceThere were moderate movements during yesterday's Asian session and gold fluctuated slightly up from $2067. During the US trading session, gold quickly increased in price along with the depreciation of the USD and surpassed the resistance zone, once reaching 2084 USD. Finally, gold closed the daily chart on a positive note to post its fifth consecutive gain, showing a clear bullish trend. This is how trends work. Once it is formed, it will not change anytime soon and you will be taking a big risk if you act against the trend. However, it will depend on your trading cycle. For day trading, both bears and bulls have opportunities, and price and timing will be important. Currently, gold has hit previous resistance at $2070-$2075, which should become significant support for today's trade. If gold fails to fall below that range, it will reach new highs or even reach $2,100. In the 1H chart, a golden cross is expanding and it is away from the overbought zone, indicating more upside space. However, the MACD shows major pullback risks in the 4H and daily charts, and bearish divergence appears to be increasing. Therefore, investors who maintain an optimistic view in the medium term should not follow the current uptrend. Today, the trading range will be from $2070 to $2047, with aggressive investors advised to buy low and sell high.
TVC:GOLDShort
by carefulLion07pab
HelenP. I Euro can decline to support zone and then bounce upHi folks today I'm prepared for you Euro analytics. A few days ago price rebounded from the trend line and started to rise to support 2, which coincided with the support zone, but when it reached this level it at once rebounded below the trend line, breaking this line. After this, the Euro in a short time backed up and even soon broke support 2, after which it made a retest. Then the price tried to rise but failed and fell to support 2, and then it rebounded from this level and made a strong upward impulse to support 1, which coincided with one more support zone. After this movement, the Euro rebounded from support 1 and declined firstly to the trend line and a few moments later it fell lower this line, breaking it. But soon, the EUR rolled up and made impulse up to the support zone, thereby breaking support 1 too. As well recently, the price made a correction to the support zone. Now price continues to trades near the support area and for my mind Euro can decline lower than the trend line to the support zone and after this price can rebound up to the 1.1150 level. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
3
AUDUSD continues its uptrend intradayAUDUSD surpassed its recent high of 0.6800 last Friday, reaching levels not seen in nearly five months. The initial rise in the Australian dollar was attributed to increased market risk appetite and a decline in the US dollar. Additionally, hawkish sentiment around the RBA supported the Australian dollar. AUDUSD continues its uptrend intraday. Upward movement underway, starting at 0.6269, likely targeting a previous stop loss of 0.6846 in the near term, followed by the end of the "upward impulse wave" at 0, 6875. The next target, following the "double top" formed in June and July, would be a test of 0.7156. On the other hand, a correction below the minor support at 0.6723 would initially result in a more prolonged consolidation of upward momentum. However, as long as support at 0.6541 holds, the outlook remains bullish. In terms of trading strategy, one should focus on buying at low prices.
Long
by NicoTradingMaster
Today's GOLD strategy will decrease to the 2054 area and then reOctober brought a significant turning point for gold as rising geopolitical uncertainty coupled with the prospect of changes to US monetary policy caused spot prices in USD/oz to increase by 7.32% - biggest monthly gain since March 2023. Gold ended the month up 8.76% year to date, while also breaching the psychological US$2000/oz threshold on October 27 for the first time since March Year. October also marked the third consecutive month of losses across global and US stocks - the first since 2020 - with the SP 500® Index and MSCI ACWI Index falling 2.1% and 3%, respectively. 0% in October, despite the US posting a gross domestic product of 4.9%. product growth (GDP) in Q3 2023. Gold's rally was fueled by increased geopolitical volatility following the October 7 Hamas attack on Israel, with Israel responding by declaring war on Hamas in the Gaza Strip. Market concerns about the potential escalation of this conflict and regional spillovers across the Middle East have boosted risk sentiment and demand for defensive assets such as gold. As geopolitical uncertainty remains high in the Middle East and Ukraine, gold may continue to receive support from portfolio diversification and safe-haven purchases. The consensus that the Federal Reserve (Fed) was nearing the end of its rate hike cycle solidified in October. After pausing interest rates since the September 20 FOMC meeting, the decision to leave rates unchanged on November 1 for the second straight meeting confirmed market expectations that had boosted gold throughout October. Looking ahead, markets continue to price in a mid-term Fed rate cut 2024, which should support gold prices later in the year.
FXOPEN:XAUUSDShort
by NicoTradingMaster
Analyzing USDJPY price today, please follow my articleUSDJPY surged after falling below the 200-day SMA but encountered strong resistance at the 200-day EMA and recovered some of last week's decline. The Relative Strength Index has recovered from the 30 level, but it is trending sideways and the MACD is rising after falling below the trigger line. If the upward pressure continues, the price could revisit the previous starting point at 146.60. A break above this area is the starting point for USDJPY's second sell-off and a tightening of the 100-day SMA. If the bears reappear and the bears attempt to pull back the price, the initial downtrend could stall at the short-term support zone at 141.86 and then at the short-term bottom at 140.90 . Overall, USDJPY remains in negative medium-term mode after the sharp pullback from 151.91, but it seems to have received enough support. However, with the MACD strengthening in the negative zone, a bullish breakout is more likely. Recommended to buy at a discount.
Long
by NicoTradingMaster
GBPUSD strategy today will drop sharplyThe dollar fell sharply on Thursday and is on track for an annual decline after two years of strong gains as expectations of an interest rate cut from the Federal Reserve next year are holding back markets. As the year comes to a close, thin liquidity and limited volatility are predicted until the new year. The dollar index, a measure of the US currency against six rivals, fell to a new five-month low of 100.81. The index fell 0.5% on Wednesday and is on track to fall 2.6% this year, shedding two straight years of strong gains. According to the CME FedWatch tool, investors remain focused on the timing of a Fed rate cut, with the market pricing in an 89% chance of a cut by March 2024. Futures imply up to 158 basis points about the Fed easing next year.
Short
by NicoTradingMaster
Today's GOLD trading strategyYesterday, gold prices' big movements were mainly seen in the first 30 minutes of the Asian session. The price climbed $10. And in the U.S. session, due to risk aversion, XAUUSD also rose $10. Bulls were relatively strong. However, the optimistic expectations for rate cuts still need to be verified or falsified by the December key data. Currently, the risk aversion sentiment is a more important factor. It may gradually fade, but in trading, we need to see what happened rather than guessing. Don't trade in advance. Currently, bulls are strong, but the price still cannot break above the 2090-2095 range. If there is no big stimulus, it will be difficult to rise above that range in the near future. If the price of gold enter that area, it may be a good selling opportunity. Technical analysis on the 1D frame stochastic is in the overbought area, but RSI is not in the overbought area, the histogram has begun to grow higher, on the H4 frame stochastic has been in the overbought area for a long time, RSI has entered the Overbought area, on the weekly chart stochastic is falling very strongly so gold is likely to decrease.
TVC:GOLDShort
by carefulLion07pab
GBPJPY is likely to rise as it encounters supportOn the hourly chart of USD/JPY, the pair started a strong decline well above the 143.50 zone. The US Dollar gained bearish momentum below the 142.85 support against the Japanese Yen. The pair even settled below the 142.85 level and the 50-hour simple moving average. Finally, it broke the 142.20 pivot level. A low was formed near 141.88 and the pair is now attempting a recovery wave. EUR/USD Extends Rally While USD/JPY Revisits Support_2There was a break above a major bearish trend line with resistance near 142.25 and the 50-hour simple moving average. The pair spiked above the 23.6% Fib retracement level of the downward move from the 144.93 swing high to the 141.88 low. Immediate resistance on the USD/JPY chart is near 142.85. The first major resistance is near the 50% Fib retracement level of the downward move from the 144.93 swing high to the 141.88 low at 143.40. If there is a close above the 143.40 level and the hourly RSI moves above 60, the pair could rise toward 144.50. The next major resistance is near 145.00, above which the pair could test 146.20 in the coming days. On the downside, the first major support is near 141.85. The next major support is near the 141.45 level. If there is a close below 141.45, the pair could decline steadily. In the stated case, the pair might drop toward the 140.00 support. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Long
by carefulLion07pab
EURUSD is trending downOn the hourly chart of EUR/USD, the pair started a fresh increase above the 1.0930 zone. The Euro climbed above the 1.0985 resistance zone against the US Dollar. The pair even settled above the 1.1020 resistance and the 50-hour simple moving average. Finally, it tested the 1.1040 resistance. A high is formed near 1.1044 and the pair is now consolidating gains. If there is a downside correction, the pair might test the 23.6% Fib retracement level of the upward move from the 1.0929 swing low to the 1.1044 high at 1.1020. There is also a key bullish trend line forming with support near 1.1020 and the 50-hour simple moving average. The next major support is near the 50% Fib retracement level of the upward move from the 1.0929 swing low to the 1.1044 high at 1.0985. EUR/USD Extends Rally While USD/JPY Revisits Support_1If there is a downside break below 1.0985, the pair could drop toward the 1.0930 support. The main support on the EUR/USD chart is near 1.0910, below which the pair could start a major decline. On the upside, the pair is now facing resistance near 1.1040. The next major resistance is near the 1.1065 level. An upside break above 1.1065 could set the pace for another increase. In the stated case, the pair might rise toward 1.1120.
Short
by carefulLion07pab