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EURUSD: Experimental declineHello dear friends! Overall, EURUSD experienced significant volatility yesterday after failing to sustain its previous recovery momentum. Currently, in today's trading session, despite a slight price adjustment at 1.08216 as of the time of writing, highlighting a 0.03% increase for the day. However, this is still not enough evidence for a strong upward trend, especially after the Fed pushed back expectations of an early interest rate cut, boosting the US Dollar. The focus now shifts to EU inflation data. From the 1H chart, we observe that there is a high probability from a DOW analysis perspective that the EU will continue its upward trajectory. By using the Fibonacci retracement level, a reasonable correction level for this currency pair would be the perfect 0.618 level, which is at 1.08304, followed by pushing this pair beyond the support level at 1.07950 and moving towards the Fibonacci touch zone at 1.618.
Short
by TradingForecast_Signals
2
XAUUSD: SELL?Dear friends, the overall trend for gold today is downward, as indicated by the reversal of the EMA 34 signal. At the time of writing, the price is trading at $2023, a decrease of 0.82% for the day. Based on recent statements and the number of jobs, it seems unlikely that a rate cut will occur in March. The better-than-expected job market in the US has caused the USD to strengthen. Therefore, it is inevitable that gold will decline in the short term. The support level around $2015 continues to hold strong for buyers. However, if sellers prove their strength by breaking through this support, gold will experience a significant decrease. The resistance level, as indicated on the technical chart, serves as evidence for the ongoing conflict between buyers and sellers, as gold continues to react strongly. Wishing you successful trading endeavors.
OANDA:XAUUSDShort
by TradingForecast_Signals
GBPUSD: Boring trading in narrow price wedgeGBPUSD continues to move within a narrow price range today, with short-term and medium-term prospects favoring an upward trend, breaking out of the range and continuing to rise. According to the CME FedWatch Tool, the probability of an interest rate cut in March has decreased from 80% at the beginning of the month to nearly 40% ahead of the Fed meeting. The USD index (DXY), which tracks the value of the USD against six major currencies, increased by 2% in January. If the policy statement or Fed Chair Jerome Powell expresses an optimistic view on continuing the inflation reduction process and does not confirm that there will be no interest rate cuts in March, the USD may face selling pressure, allowing GBP/USD to rise after days of boring sideways movement.
by TradingForecast_Signals
USDJPY: Large liquidity adjustment of the marketIt's great to see you all again and discuss USDJPY today, promising to be a highly effective strategy. Overall, USDJPY has demonstrated its strength with a remarkable breakout above 146.75, completely breaking free from the sideways trend and ending the previous strong uptrend. It's an impressive move from the bearish side up until now. Currently, this currency pair is trading around 146.64 and has lost -0.15% for the day. Traders are opting to wait on the sidelines amidst uncertainty regarding the timing of the Federal Reserve's interest rate cuts. Therefore, the focus will still be on the highly anticipated policy decision by the FOMC later today. This decision will play a crucial role in influencing short-term momentum for the US Dollar (USD) and provide new direction for USD/JPY. Hence, it's not surprising that the main currency pair continues to face strong resistance around the 148.00 level. In the short term, the 4-hour chart indicates a potential downward correction, with a projected retracement to the support level at 144.85 to readjust market liquidity as mentioned in the above overview.
Short
by TradingForecast_Signals
USDJPY: become cautiousCurrently, USDJPY is displaying a sideways trend on the chart. There are two important levels to note: resistance at 148.15 and support at 147.28. The market is currently cautious, especially with upcoming policy announcements from the Fed, which could potentially increase the value of the US dollar, even though US bond yields are weak. Additionally, the bleak economic situation in Japan is also impacting this currency pair. Attention is now focused on the Fed, as any new decisions from them could cause significant fluctuations in the direction of USDJPY. There is a possibility that this major currency pair may decline. What are your thoughts on this? Feel free to share your perspective!
by TradingForecast_Signals
BTCUSDT: Getting hotThe price of Bitcoin is currently on an upward trend since last Thursday. BTC reached its highest point in two weeks at $43,990 before undergoing a correction. At the time of writing, BTC is trading at $43,374. Looking ahead, BTC faces a resistance level in the range of $43,870 to $45,562, which could lead to a further price drop. In the event of a decrease, the price of Bitcoin may sharply decline to a psychological support level at $40,000. If this level is broken, the next support zone will be between $38,535 and $38,574.
by TradingForecast_Signals
Developments: The revival of gold in the coming timeDear friends, The delayed recovery of US bond yields and the greenback has pushed gold prices further away from their previous highs, reaching a new two-week high around the $2050 per troy ounce mark. The 4-hour chart also supports the upward trend. Technical indicators are higher and maintain a strong upward momentum in the positive territory. Furthermore, XAU/USD has surpassed all its moving averages (EMA). Gold is currently receiving strong support at the $2032 level. Breaking below this level would lead to a significant price decline, while maintaining this level would result in price increase. Upon careful observation, it can be seen that this precious metal has surpassed the resistance level of both aforementioned moving averages. Both short-term and medium-term prospects indicate a strengthening upward trend. A buying strategy is recommended when prices continue to decline. Short-term price levels to consider are: -Support levels: $2038.90, $2022.60, $2007.20 -Resistance levels: $2056.10, $2071.30, $2085.40
OANDA:XAUUSDLong
by TradingForecast_Signals
GBPUSD: Is the daily bullish streak still possible?Hello dear friends! Today, GBPUSD continues its sideways movement with little change from the beginning of the week. On the daily chart, GBPUSD still maintains its upward trend, but any significant breakout from this trend could lead to a considerable price decrease. Holding onto this upward momentum and establishing 1.6365 as a new support level, our target of 1.2900 remains emphasized at this time. Considering the current situation and the risk of news, what are your expectations for GBPUSD? Share your opinions below.
Long
by TradingForecast_Signals
2
EURUSD: Moving in redEURUSD continues its losing streak this week, with the price of this currency pair trading around the 1.081 level and struggling to find any significant support on the chart. The primarily influencing factors are market news and investor sentiment, along with the volatility of the USD. The strengthening of the US dollar seems to have sparked some downward movement around EUR/USD, causing it to break through the 1.0850 level and start the week on a negative note. In addition to the influence of the US dollar, market participants are approaching the upcoming FOMC meeting with caution. Furthermore, the release of the US Non-Farm Payrolls report at the end of the week is also fueling the cautious stability among market participants. If sellers regain control, EUR/USD could potentially return to the lows around 1.07500 and possibly even 1.06675. These are two significant support levels to watch. Conversely, if conditions favor EURUSD, it could bounce back from those levels and move higher.
by TradingForecast_Signals
SPX - A day in a life of a short trader Even if we had the FED meeting today - It was a clear and visible that selling pressure will lead the way. SPX started with a gap down and showed no attempt to close the gap at open or within first hour (initial balance). Right after intial balance we broke wit lower Bouhmidi-Band indicating more selling pressure to come. After two attempts to regain the first lower BB we saw in the last 30 minutes of trading more sell orders coming in and confirmation for trend continuation. At the end we close below of 2 sigma Bouhmidi-Band. SPX lost 1,6% at the end.
SP:SPXShort
by SalahBouhmidi
Gold price keeps rising above the trendlineDear friends! Today, the price of gold continues to hold at $2035 in the early hours of Wednesday's trading session and is still limited below the resistance level of $2040, despite having the opportunity to rise steadily to $2048 yesterday but failed to close above that resistance level. However, the long-term upward momentum of XAUUSD is still preserved. According to yesterday's news, Gold reached its highest level in 2 weeks, supported by the weakness of the USD and lower bond yields, while the focus shifted to the Federal Reserve's policy meeting to gain a better understanding of how the agency will cut interest rates this year. Even the safe haven appeal of precious metals cannot resist the changing market expectations surrounding the central bank's monetary policy. The market's expectation that the Fed will actively cut interest rates could push gold to $2200 per ounce with an average annual price of $2100 per ounce. The question now is when and how long it will take for us to see that happen.
OANDA:XAUUSDLong
by TradingForecast_Signals
GBPUSD: Unpredictable fluctuationsDear friends, Today, January 30th, is still a quiet trading day for GBPUSD. It is currently hovering around the 1.271 level, with an unclear trend as it continues to hold a sideways pattern and mainly moves around the EMA 34 and 89 lines, converging. The cautious market sentiment at the beginning of the week has helped the US Dollar (USD) remain strong against its counterparts and made it difficult for GBP/USD to gain momentum. However, this has not had a significant impact on this currency pair. Therefore, the market has shifted to a cautious stance ahead of two important events: the FOMC and the Bank of England (BoE) meetings on Wednesday and Thursday respectively.
by TradingForecast_Signals
EURUSD: Continuing to search for a new bottomDear friends, currently, the EUR/USD pair is recovering some of the points lost below the 1.0800 level in the early trading hours in Asia on Tuesday. The recovery of the major currency pair is driven by the modest decline of the US dollar and lower US Treasury bond yields. In the short term, there are expectations of an increase, but when looking at the longer-term trend, the weakness of this currency pair has not yet stopped. It has just surpassed the support level of 1.085 and still aims to regain momentum around the 1.075 level. If that price level continues to be broken by the bearish side, EURUSD still has another opportunity at the 1.0665 level as it is a significant support level that has helped EURUSD bounce strongly in the recent past.
by TradingForecast_Signals
XAUUSD: opens a new wave of price increasesHello dear friends! Currently, in today's trading session, the price has completely escaped from the previous parallel downtrend channel. At the time of writing, precious metals are still below the supply zone of $2,038-2,042 and are trading within the familiar range, with the last support level at $2,015 that needs to be protected by the price increase. In the short term, increased geopolitical tensions in the Middle East also benefit the price of Gold in the context of global safe haven shift. Now, attention is shifting to the US Job Openings and Labor Turnover Survey (JOLTS) data to get new insights into labor market conditions ahead of the Fed's policy announcement on Wednesday and the release of Non-Farm Payrolls data on Friday. With the current picture, we are expecting a short-term price surge with an expected increase to $2,060, while breaking above this resistance level will open up new opportunities for this precious metal as mentioned on the 12-hour chart.
OANDA:XAUUSDLong
by TradingForecast_Signals
XAUUSD - become cautiousHello everyone, I wish you a new day full of energy! Today, the price of gold has experienced positive growth, currently trading around $2030, an increase of $12 compared to the previous day. This price increase is largely driven by the demand for financial security, especially with concerns about the tense situation in the Middle East, leading to a strong influx of money into the gold market. Furthermore, the decline in the 10-year US Treasury bond yield has also increased the attractiveness of gold as an interest-free investment channel. All eyes are now focused on the Federal Reserve's monetary policy meeting at the beginning of the year, taking place later this week, as people are seeking clues about the timing and possibility of a US interest rate cut. This decision could have a significant impact on the price of gold, potentially pushing it to new highs or, conversely, risking a return to lower prices. What about you? Do you predict that the price of gold will rise or fall in the near future?
OANDA:XAUUSD
by TradingForecast_Signals
BTCUSDT: flat, what's the next move?At the start of the new week, BTCUSDT continues to show strength with a sustained price increase since the previous weekend. Currently, the price is trading around 42,330 USD and has risen by over 300 USD in today's trading session. This week, there are several important macroeconomic and cryptocurrency events. Let's explore which key altcoins might have a trend this week and how the price of Bitcoin could impact the performance of these cryptocurrencies.
by TradingForecast_Signals
3
EURUSD: Haven't stopped falling yet?Last week, EURUSD did not receive much support as the main trend was downwards, breaking below the psychological support level of 1.090. This common risk aversion sentiment, fueled by escalating geopolitical tensions in the Middle East, has led traders to favor the US Dollar (USD), putting downward pressure on the EUR/USD pair and trading at a low around 1.083 today. In the coming week, there will be several important news releases, particularly the US Housing Price Index and Consumer Confidence figures, which will provide more detailed information about the market. This careful consideration is expected to be reinforced after the upcoming statement from the Federal Open Market Committee (FOMC) on Wednesday.
Short
by TradingForecast_Signals
USDJPY: The downward momentum continuesUSDJPY opened today's session with a slight decrease, trading around the level of 147.75 and losing 0.25% during the day as it remains in a corrective wave, although still in an upward trend in the short term. Therefore, the Japanese Yen attracts some safe-haven flows amidst deepening political tensions. The USD remains stable below monthly highs and may support USD/JPY. Traders can also await the important FOMC meeting in an uncertain environment regarding interest rate cuts. Any further price decline is likely to attract buyers near the psychological level of 147.00, which would help limit the downside of the USD/JPY pair near the 146.45 area or last week's low volatility level. A convincing break below the following level could shift the short-term trend in favor of selling traders and push the spot price down to the horizontal support level at 146.700.
Short
by TradingForecast_Signals
How will the gold price fluctuate in the new week?Dear friends, in today's trading session, XAUUSD is showing signs of an upward movement within a price decline. At the time of writing this article, the price is trading around the range of 2025 - 2027 USD, marking a 0.39% recovery and an approximate increase of 8 USD. It can be seen that over the past two weeks, the global gold price has experienced slight fluctuations and its value has been fluctuating without a clear trend. Last week, gold fluctuated within a range of about 10 USD and failed to break out even when the latest report showed a "cooling" of inflation. However, things could change in the coming days as the Federal Reserve (Fed) meets and makes interest rate decisions. Currently, the markets are expecting the US Federal Reserve to maintain interest rates at the meeting taking place this week and rule out any tightening possibilities in future meetings. The report on core personal consumption expenditure index released last week indicated that "cooling" inflation has led many to believe that an early easing scenario may occur. For this reason, many experts predict that the Fed may maintain a cautious tone at its first meeting of 2024, which could benefit gold.
OANDA:XAUUSD
by TradingForecast_Signals
Gold price today (January 29)Hello dear friends! Today, gold continues its downward trend. It can be seen that the recent actions of the Fed have been less accommodating, indicating that interest rates may continue to rise and the USD will become even stronger. This will be unfavorable for the gold market. Therefore, it is not surprising that we are quite optimistic that gold will not have any new breakthroughs from this downward trend, and the 2020 USD support level needs to be observed more closely. The EMA signal, along with the downward trend, further reinforces the decline of gold. The price target reaching the 1980 USD area continues to be emphasized.
OANDA:XAUUSDShort
by TradingForecast_Signals