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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
Today's XAUUSD 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
OANDA:XAUUSDShort
by carefulLion07pab
XAUUSD Strategy to analyze gold price trends todayGold prices (XAU/USD) are on a steady trend, positioned for their best year in the past three years, driven by various global economic factors and geopolitical tensions. Although spot gold fell slightly early Wednesday, it remained near a two-week high. Gold futures prices, in turn, are rising, making them likely to post strong annual gains. This performance reflects gold's enduring appeal in uncertain times. It broke above the 2067.00 minor resistance level, which could now act as new support. The next key resistance level is 2149.00. Staying above the key support level of 1987.00 reinforces this bullish sentiment.
FXOPEN:XAUUSDLong
by NicoTradingMaster
Gold trading ideas todayThere was no trading yesterday for Christmas. Last Friday, gold ascended slightly in the Asian session. With the support from data, gold once reached $2070 during the European session. Then, it declined in the U.S. session to $2050, showing an inverted 'V' shape movement, closing the daily chart with a long bearish inverted hammer candlestick. Without considering the holiday effect, there was a bearish divergence in the pattern. Technically, it should reach a phase top. However, the general trend is still upward, and investors should catch the opportunity in the near term. Due to the holiday effect, gold bulls may pull up the price, and it will be a chance to short. If investors want to go long, try not to chase the upside but wait until gold prices fall from highs. At present, gold is dominated by bulls. If they increase their positions, gold prices will go up, and if they decrease positions, gold will retrace. In the 1H chart, as the MACD death cross expands slightly, a retracement will appear soon. Moreover, there is a bearish divergence in the 4H chart and the daily chart. Today, investors should focus on the range from $2050 to $2075 where they can buy low and sell high.
TVC:GOLDShort
by carefulLion07pab
XAUUSD trading ideas todayThere was no trading yesterday for Christmas. Last Friday, gold ascended slightly in the Asian session. With the support from data, gold once reached $2070 during the European session. Then, it declined in the U.S. session to $2050, showing an inverted 'V' shape movement, closing the daily chart with a long bearish inverted hammer candlestick. Without considering the holiday effect, there was a bearish divergence in the pattern. Technically, it should reach a phase top. However, the general trend is still upward, and investors should catch the opportunity in the near term. Due to the holiday effect, gold bulls may pull up the price, and it will be a chance to short. If investors want to go long, try not to chase the upside but wait until gold prices fall from highs. At present, gold is dominated by bulls. If they increase their positions, gold prices will go up, and if they decrease positions, gold will retrace. In the 1H chart, as the MACD death cross expands slightly, a retracement will appear soon. Moreover, there is a bearish divergence in the 4H chart and the daily chart. Today, investors should focus on the range from $2050 to $2075 where they can buy low and sell high.
OANDA:XAUUSDShort
by carefulLion07pab
GBPUSD tends to decrease when it encounters resistanceOn Friday, the British Pound (GBP) continues its rebound, driven by encouraging UK Retail Sales figures for November. The Office for National Statistics (ONS) revealed that retail spending by households defied expectations by staying positive compared to the previous year, contrary to market predictions of a significant decrease. The robust performance in Retail Sales was primarily fueled by a 2.8% rise in non-food retail stores, which offered substantial discounts during the Black Friday Sale. The significant rebound in the Pound Sterling indicates that investors have overlooked the pessimistic Q3 Gross Domestic Product (GDP) revision, indicating a 0.1% contraction. This has heightened concerns about a potential technical recession in the UK economy, especially considering the Bank of England's projection of stagnant performance in the final quarter of 2023. After the release of the economic data, Finance Minister Jeremy Hunt said that “The medium-term outlook for the UK economy is far more optimistic than these numbers suggest".
Short
by carefulLion07pab
EURUSD is trending downAs of the most recent data, the EUR/USD currency pair is currently trading at approximately 1.1000. The pair has experienced some volatility in recent sessions due to a combination of factors including economic data releases, central bank announcements, and global geopolitical events. The euro has faced pressure from concerns about the economic impact of the Omicron variant, as well as uncertainty surrounding the European Central Bank's monetary policy outlook. On the other hand, the US dollar has been influenced by the Federal Reserve's tapering of its asset purchase program and speculation about the pace of future interest rate hikes. In the short term, the EUR/USD pair has been trading within a relatively narrow range, as market participants assess the evolving economic landscape and central bank policies. Traders are closely monitoring key economic indicators such as inflation, employment data, and consumer spending, which can influence the direction of the currency pair. Additionally, any developments related to trade tensions, geopolitical risks, or major policy announcements from the ECB or the Fed could also impact the exchange rate. From a technical perspective, the EUR/USD pair is about to test a resistance levels, with market participants closely watching for potential breakout opportunities. Traders are also monitoring the 50-day and 200-day moving averages for potential signals of trend direction. The pair's current position reflects a cautious sentiment among market participants, with a focus on risk management and potential opportunities for short-term trading strategies.Looking ahead, the EUR/USD pair is likely to continue to be influenced by a mix of fundamental and technical factors. Traders will be paying close attention to upcoming economic data releases, central bank communications, and any developments related to the global macroeconomic environment. As always, market sentiment and risk appetite will play a crucial role in determining the near-term direction of the currency pair. Overall, the current position of the EUR/USD pair reflects a dynamic and evolving market environment, with traders remaining vigilant for potential opportunities and risks.
Short
by carefulLion07pab
XAUUSD: Gold technical analysis todayGold, the longtime safe-haven asset, experienced a notable rally, surpassing the psychological barrier of $2,060 an ounce on Tuesday. This increase is likely due to a combination of factors, with market participants closely monitoring developments in the US economy, especially with regard to inflation and possible cuts. Federal Reserve interest rate cuts. From a technical standpoint, . The previous resistance area that limited gains at 2050-2060 has now turned into support. I recommend looking for buying opportunities on a pullback to retest the previously broken resistance level, which is also confluent with the 61.8% Fibonacci retracement and the ascending trendline acts as cross support for gold. I see resistance around 2090 as the first potential target and also a test of the all-time high
OANDA:XAUUSDLong
by NicoTradingMaster
GBPUSD Bullish Breakout: A breach of the 1.2500 support could le Pound-to-dollar exchange rate faces headwinds as US dollar strengthens on inflation data in November. Report reveals consumer price index (CPI) up 0.1% and a 0.3% increase in the core CPI, has caused the market to reassess expectations for an impending rate cut. As the Federal Reserve convenes to discuss its next policy decision, analysts anticipate an effort by Chairman Powell to calm speculation and maintain a resilient economic outlook. Despite the initial rise in the Dollar, a detailed examination of the inflation report revealed underlying weakness, leading to a nuanced view of the trajectory of interest rates. Meanwhile, technical analysis points to a key moment at the 1.2500 support level, with the potential for significant volatility in either direction. The US dollar made a comeback following the release of November inflation data, surprising markets with a monthly CPI increase of 0.1%. This increase, compared to October's steady reading and market expectations, has changed sentiment towards the greenback. Core CPI, at 0.3% m/m, further reinforces the view of rapidly increasing price pressures.
Long
by NicoTradingMaster
AUDUSD trading strategy todayThe AUDUSD witnessed a remarkable rebound this week, surging to the 0.6791 level on Thursday, marking the highest level since late July. After a failed attempt at the beginning of the month, the bulls finally broke above the resistance trendline dating back to April 2022, adding to the market's optimistic sentiment that the upward reversal from the year's low point in October may continue. The RSI and the stochastic oscillator align with this view, as they fluctuate around the 70 and 80 levels, respectively, without confirming overbought conditions. The 0.6791 level, which has restricted both upward and downward trends for over a year, is currently under scrutiny. If it gives way, the upward momentum could accelerate toward the 0.6800 level and then rise to the double-top formation at 0.6894 from June to July 2023. If bulls make further progress, the next resistance may emerge around the 0.6980 area. Alternatively, a downward correction may initially pause between the nearby support at 0.6655 and the breached resistance trendline. If this bottom holds, the asset might seek shelter near the exponential moving averages, currently situated between 0.6520 and 0.6600. Subsequent further declines could find stability around the 2020 ascending trendline at 0.6470 or lower near 0.6400.
Short
by carefulLion07pab
GBPUSD tends to decrease when it hits resistanceGBPUSD inched up heading into the weekend but hit a roadblock at cluster resistance stretching from 1.2727 to1.2769, where a crucial Fibonacci level converges with a downtrend line extended from the 2023 peak. Reinforcing bullish momentum requires clearing this technical hurdle; with a successful breakout likely paving the way for a move towards 1.2800, followed by 1.3000. On the other hand, if sellers stage a comeback and initiate a bearish reversal, trendline support is located around the 1.2600 area. This dynamic floor may offer stability during a pullback, but a push below it could usher in a retest of the 200-day simple moving average hovering slightly above the 1.2500 handle. Further weakness could redirect attention to 1.2455.
Short
by carefulLion07pab
EURUSD :Analyze market strategies todayThe Euro continues to strengthen as Martins Kazaks, member of the Governing Council of the European Central Bank (ECB), highlighted the need to maintain current interest rates over the long term. However, he suggested that the first interest rate cut could materialize around mid-2024. This statement strengthened the Euro's position as the commitment to maintain interest rates was seen as a maintenance measure. the power of money. From the chart below, we can see that EUR/USD has moved away from the 200 Day Moving Average, which shows that the pair is currently trending very strongly, so it is best to focus on buying and not sold. Selling would be a higher risk counter-trend method. EUR/USD has a key resistance level at 1.05000. Personally, I think EUR/USD will head towards that price level before any pullback.
Long
by NicoTradingMaster
EURUSD is trending downAs of the most recent data, the EUR/USD currency pair is currently trading at approximately 1.1000. The pair has experienced some volatility in recent sessions due to a combination of factors including economic data releases, central bank announcements, and global geopolitical events. The euro has faced pressure from concerns about the economic impact of the Omicron variant, as well as uncertainty surrounding the European Central Bank's monetary policy outlook. On the other hand, the US dollar has been influenced by the Federal Reserve's tapering of its asset purchase program and speculation about the pace of future interest rate hikes. In the short term, the EUR/USD pair has been trading within a relatively narrow range, as market participants assess the evolving economic landscape and central bank policies. Traders are closely monitoring key economic indicators such as inflation, employment data, and consumer spending, which can influence the direction of the currency pair. Additionally, any developments related to trade tensions, geopolitical risks, or major policy announcements from the ECB or the Fed could also impact the exchange rate. From a technical perspective, the EUR/USD pair is about to test a resistance levels, with market participants closely watching for potential breakout opportunities. Traders are also monitoring the 50-day and 200-day moving averages for potential signals of trend direction. The pair's current position reflects a cautious sentiment among market participants, with a focus on risk management and potential opportunities for short-term trading strategies.
Short
by carefulLion07pab
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