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EURUSD: Bearish Breakout?Hello everyone, what do you think about the next trend of EURUSD? From the 4-hour chart, we can see that this currency pair is trending upwards. Currently, the price is trading around 1.0825, showing a 0.07% increase for the day. However, the latest minutes from the Federal Reserve indicate that policymakers are still focusing on downside risks. On the 4-hour chart, EURUSD is currently receiving strong support at 1.0805, with 1.08 being the ultimate support level for this pair. Breaking below this level would lead to a significant price decrease, while maintaining this level would result in a price increase. However, after multiple tests of the upward trend line as mentioned in the analysis above, I believe in the downside potential of this currency pair, given the risks from the latest news. My target is for the price to break below the upward trend line of this pair at 1.0805 and seek support at 1.0760.
Short
by TradingForecast_Signals
EURUSD: holding higher levelsDear friends, Today, EURUSD continues to trade in an upward trend. It is noticeable that the overall performance of the US dollar remains weak, despite the mixed market sentiment, as investors contemplate betting on a Fed interest rate cut and the risk of a US government shutdown ahead of the Fed Minutes. Currently, from the 1-hour chart, although EURUSD is trading relatively calmly at a high level, the possibility of a short-term price increase is still firmly consolidating. The EMA signal, along with the upward trend, supports the price increase of EURUSD. The price target reaching the 1.0840 area continues to be emphasized.
by TradingForecast_Signals
Today's gold price must be the gold priceToday, gold is trending upwards in the discounted zone. So what reasons could push the price of gold higher in this environment? Currently, the price is trading around $2026 with little change compared to yesterday's trading session, highlighting a 0.05% increase for the day. On the other hand, the Federal Reserve released the minutes of their January meeting, reassuring market participants that the Fed is in no hurry to cut interest rates in the near future. Given the current picture, it would not be surprising if the previous breakout zone is soon retested before any short-term price momentum occurs.
OANDA:XAUUSDLong
by TradingForecast_Signals
GBPUSD: Will there be another price drop?Hello dear friends, Today GBPUSD continues its sideways movement as the price quickly dropped to a support level but recovered swiftly. At the time of writing, the price is trading at 1.2617, up 0.15% for the day. From an analysis perspective, it can be observed that in the short term, there is a high probability that the price will quickly decrease to the designated level as it remains below the exponential moving average EMA 34. Currently, GBPUSD is operating near the resistance level of 1.2650, with immediate support at 1.2530. Breaking below this support level will open up the opportunity for further price decline for this currency pair towards lower levels at 1.2500 and 1.2400 as shown on the 1D analysis chart.
Short
by TradingForecast_Signals
Gold waits for a breakthroughDear friend, what do you think about the trend of Gold? Today, the price of gold is at its highest level in many days, reaching $2,030 before the Fed's minutes. The US dollar remains weak against the interest rate of the US Treasury, despite the gloomy risk sentiment. My target after a slight decline in the gold price towards the support level of $2019 (which coincides with the convergence of EMA 34 and 89) will be an increase with a target of $2031, followed by a breakthrough and reaching the final target of $2044. What are your thoughts? Good luck with your trading!
OANDA:XAUUSD
by TradingForecast_Signals
USDJPY: New trend strategyDear friend, today we have an idea about trading this major currency pair. Currently, USDJPY continues to trade in a downward trend, and the range around 150.30 and 150.50 continues to serve as a psychological barrier for the upward movement of this currency pair. Specifically, concerns about intervention have strengthened the JPY, although uncertainty about the BoJ's monetary policy has limited the increase. Traders are looking at the FOMC minutes for signals about the Fed's interest rate cut trajectory and new momentum. The price target is set at 149.40 in the short term. What do you think, do you agree with me?
Short
by TradingForecast_Signals
Overview of world goldDear friends, Today, gold ended the trading session with a significant price increase. This precious metal is currently trading at $2027, highlighting a 0.18% increase for the day. You may wonder why the price has risen so sharply. Regarding international market information: The US dollar is influenced by increasing speculation that the Federal Reserve (Fed) will maintain high interest rates for a longer period. Therefore, the potential for gold price increases could be generated from a depreciation of the USD if Fed officials are hesitant to cut interest rates. Outcome: This precious metal will be driven by strong demand from central banks and economic downturns. From this, it can be argued that it has the potential to reach new record levels by the end of 2024. Regarding technical analysis and gold price predictions in the near future: The exponential moving average (EMA) continues to support an upward trend. It has surpassed the price resistance levels around $2015 and $2010, indicating that in the short term, it may soon retrace to this breakout zone before resuming its upward movement. Currently, gold is operating near the $2030 price resistance level, with $2040 being a psychological level. Breaking above this resistance level will open up opportunities for price increases in this precious metal.
OANDA:XAUUSDLong
by TradingForecast_Signals
Gold moves to an important areaHello traders, gold prices today continue to recover 5 USD and move around $ 2022 as the day yesterday. The upward trend is being formed and the immediate resistance level we see will be 2027. It will be a rather sensitive level because the gold has decreased sharply from the last time it reaches that level. Therefore, if gold successfully overcame this level of increasing chance to open more for precious metals, on the other hand, the USD 2000 will still be able to check again at the present time.
OANDA:XAUUSD
by Antonia_Le
BTCUSDT : Suddenly turned around!BTCUSDT is currently trading around the $43,333 mark and is embarking on a short to medium-term upward trajectory. As a result, BTCUSDT has completely broken out of the parallel downtrend channel as the bullish side successfully countered the downward pressure near the psychological level of $40,000. Currently, BTCUSDT is showing slight signs of retracement, but the technical outlook still leans towards an upward trend as it has successfully breached two resistance levels at $41,700 and $43,100, thereby establishing them as new support levels for the recovery journey.
Long
by TradingForecast_Signals
8
What's changed in gold price today?Hello everyone. To start off today's trading session, the price of gold is still within a downward trend, trading around $2016 at the time of writing, with no significant fluctuations compared to yesterday's trading session. Gold prices are benefiting from the decline of the US dollar and the escalating tensions in the Middle East. In the short term, the gold market may see an increase in prices as the Chinese market reopens and traders anticipate higher gold prices in the near future.
OANDA:XAUUSDLong
by TradingForecast_Signals
USDJPY: Opens up many possibilities for price increasesHello dear friends, do you think USDJPY will rise or fall this week? On our chart today, it is clear that this currency pair is showing a distinct downward corrective wave, with the current price fluctuating around 149.90 and marking a 0.18% decrease for the day. From a technical standpoint: Despite the current decline, the upward trend still holds dominance as USDPY successfully broke the resistance level at 149.00. If the price retests this broken resistance level and accepts it as a new support level for the current short-term upward momentum, there is a possibility that the bull side will open up multiple buying opportunities if the Fed continues to extend the duration of interest rate cuts in the near future.
Long
by TradingForecast_Signals
EURUSD: Up or down?Dear friends, at the beginning of this week's gold trading session, EURUSD indicates a new recovery level after the previous closing session. The short-term outlook still suggests the possibility of a EURUSD price decline. At the time of writing, the price is trading steadily around 1.0781, up 0.08% for the day. Meanwhile, the US dollar has weakened amidst thin trading during the holiday period and ahead of the Fed Minutes on Wednesday. The next focus will be on the monthly report from the Bundesbank in Germany. Therefore, it would not be surprising if we remain quite optimistic that EURUSD will not stop here but move towards new breakthroughs, with the support level at 1.0600 being closely observed by the bearish camp. A price increase at this time will still likely encounter the resistance level of 1.0900, thereby opening up many opportunities for sellers.
Short
by TradingForecast_Signals
EURUSD: Breakout causes price declineHello everyone, EUR/USD continues its downward trend and is still being hindered below the 1.0800 level. Currently, the price is trading in a bullish recovery trend with the aim of correcting the previous sharp decline, but it is still limited below the EMA 34 moving average technical indicator, which is at 1.07750. In the current scenario, I expect EUR/USD to retest the resistance level mentioned above before any selling pressure occurs. My target is 1.0740, followed by 1.0720.
Short
by TradingForecast_Signals
GBPUSD today ( 20/02 ) On the GBPUSD market today, the GBPUSD pair continues to have a recovery disadvantage when the DXY index is more stable and partly puts pressure on this pair of money. Currently, GBPUSD is fluctuating around 1,258 and on the trend 1D chart, it seems that it is still in the reduction with the empty momentum and the cross -moving movement is dominating. I expect this pair of money to continue to decrease at least 1,240 after it goes out of support of 1,253 as marked on the analytical chart.
by Antonia_Le
How should EURUSD be traded today?Greetings EURUSD traders! How do you foresee the movement of the EURUSD pair today? With the markets closed for the holiday on Monday, EURUSD remained relatively stable, primarily oscillating around the 1.076 level. The overarching trend still appears to favor the bears, with prices firmly entrenched within a descending channel and lacking the momentum to break free from this pattern. Given the current scenario, I am inclined to anticipate a continuation of the downtrend for EURUSD. My target is set at 1.070. What are your projections for this currency pair?
by Antonia_Le
Gold stable below 2050 USD?Welcome to a new week of promising and productive trading! Looking back at the previous week, gold demonstrated its strength by trading predominantly in the green. It was an impressive move from the bullish side, as they not only successfully defended the key support level at $1985 but also pushed the price of gold higher from this point onwards. However, the price of gold will react to various economic reports until there is clear information regarding a potential interest rate cut by the Fed. Based on the current picture, it is likely that gold will retrace back to the key support level of $1983 once again. On the other hand, if a breakthrough occurs and surpasses this support level, it will quickly move towards the final Fibonacci key resistance of $1932, indicating expectations of a recovery starting from there.
OANDA:XAUUSDShort
by TradingForecast_Signals
Gold price todayDear readers, at the beginning of the new trading week, gold has clearly broken out of its previous downward trend channel. Currently, the price of gold is trading at $2022, marking a 0.44% increase for the day. However, many analysts are predicting a short-term decline in the price of gold. On another note, after the monetary policy meeting and comments from Fed Chairman Powell, it seems likely that the Fed will maintain a "higher rates for longer" stance. As a result, the possibility of a rate cut in March has been ruled out. Powell believes that the meeting minutes could pose a risk to gold as they may reveal or reinforce the hawkish stance that the Fed is pursuing, thereby strengthening the downward momentum of gold.
OANDA:XAUUSDShort
by TradingForecast_Signals
Gold shows signs of potential recovery and price declineDear friends, looking at the chart in general, we can see that gold is trading relatively calmly above a high level with a sharp downward trend on the 4-hour time frame. The EMA 34 technical indicator shows signs of a reversal in gold prices in the price decline zone, which means that the price could touch the 2050 USD level before any downward scenario occurs according to the previous downward trend of the precious metal market. However, if a downward scenario occurs, the next target for gold could be the old support level of 2015 USD. As long as it remains stable above this level, we can speculate on a new scenario within the narrow range of this long-term market.
OANDA:XAUUSD
by TradingForecast_Signals
EURUSD: Buying strategy?Hello dear friends, Currently, EURUSD is trading at 1.0763, continuing its short-term downward trend and losing 0.2% for the day. Currently, the US Dollar remains strong as Fed Chairman Jerome Powell delays the timing of interest rate cuts amid escalating geopolitical tensions in the Middle East. Amidst this, geopolitical tensions continue to escalate in the Middle East, and the USD could gain further strength if risk sentiment continues to deteriorate after the opening bell on Wall Street. The "buy on dips" trading strategy for EURUSD still remains valid as long as the significant static support level of 1.0700 is maintained, signaling a breakout from the current downtrend channel. What do you think? Good luck with your trading!
Long
by TradingForecast_Signals