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Update GBPUSD: Continue to plunge into the abyssHello dear friends. Today, GBPUSD continues its downward trend with prices trading around the 1.220 level and there are no signs of a halt yet. From the technical analysis chart: It can be seen that after forming the ABCD pattern, with wave D ending at a high of 1.315, GU started a prolonged SELL movement for several months, despite some upward movements, it was not enough to reverse the direction of this currency pair. With this decline, GU is currently aiming for lower levels, with the nearest target at 1.203 and then 1.180. The resistance level is at 1.231.
by Karina_Bella
2
USD/JPY Side Way at the end of the weekHello everyone! USDJPY is trading quietly as it fails to break through the strong resistance level at 149.85, as the Bank of Japan (BoJ) is expected to release inflation forecasts for fiscal years 2023 and 2024 earlier than anticipated. In terms of technical analysis: - In the short term, I believe that the USD/JPY pair will fluctuate within a sideways range around the price level of 149.85 and 149.40, as the market seems to lack any significant volatility. - In the long term, I believe that once it breaks out of this barrier, this currency pair will continue its positive trend with an expected increase towards 150.00.
by AlselvSignals
Clear target for USDJPY to rise to $150.00 USDGreetings, dear friends! Today, the USDJPY has continued its upward trend as expected. Upon examining the 1-hour chart closely, it becomes evident that the pair has yet to surpass the nearest resistance zone located at 149.43. At present, the pair is trading within a range around 149.12. The formation of a sustained uptrend has provided support for the pair, while the closest support level at 148.99 has played a significant role in driving its upward movement. Based on the above analysis, it is apparent that Alselv's target lies at 150.00. Alselv has previously identified this target by successfully surpassing the current nearest resistance level at 149.71.
Long
by AlselvSignals
8
Gold's short-term decline is expected to reach 1900 USDHello everyone, today the gold market is quite calm as there is little macroeconomic data from the United States being released. The market is waiting for information from the Chairman of the Federal Reserve, Jerome Powell, on October 19th when he speaks at the New York Economic Club. Due to this reason, gold sellers continue to push prices down, and gold is currently at $1920 with an expected decrease to $1900. This downward trend will continue until any positive developments occur that could lead to a price increase.
OANDA:XAUUSDLong
by AlselvSignals
8
EURUSD - Price may test resistance and then continue to declineHello dear friends! EURUSD today has undergone a significant short-term recovery and is currently trading calmly at 1.0550 since the time of writing. The tensions in the Middle East and higher-than-expected inflation figures in the United States have boosted the demand for the safe-haven US Dollar. From the analysis chart, we can observe that a downward trend channel has formed with a breakout level at 1.0604. Despite some short-term rebounds, there isn't enough momentum to escape the downward trend. The target for this week is 1.0448. The important levels to consider are: Support levels: 1.0495, 1.0450, 1.0400 Resistance levels: 1.0570, 1.0610, 1.0650
by AlselvSignals
1
EURUSD - Pay attention to the ZEW surveyHello dear friends, the EURUSD pair today continues to rise as predicted. It is currently trading at 1.0549. However, market participants are awaiting the ZEW Economic Sentiment Survey in October, which is expected to improve from -8.9 to -8.0. The major currency pair is currently trading around 1.0559, down 0.02% for the day. This could be seen as a sign of restraining the future rise of Gold in the near and short term. For the above reasons, the expected downward trend is likely to start soon, with a projected price of 1.0494 and possibly even lower at 1.0449.
by AlselvSignals
Gold's recovery is uncertainHello dear friends! Let's explore and share our opinions here. Gold has made a significant recovery above the $1857 mark. The precious metal continues its journey to conquer $1880. Due to concerns arising from the Israel-Hamas conflict, investors have been prompted to buy more. Wednesday and Thursday will bring us market news. As a result, the short-term surge in gold buyers has pushed the price of gold to $1900. Although this recovery is not yet certain, there may still be price drops in the future.
FXOPEN:XAUUSD
by AlselvSignals
18
Fed's influence in the near futureHello dear friends! Today, Gold continues its downward trend, currently trading at $1913. The main reason for this is the technical selling pressure following the previous 3% surge, driven by safe-haven demand. In addition to the developments in the Middle East, investors are also paying attention to the US monetary policy stance, with Federal Reserve Chairman Jerome Powell's speech later this week. According to the CME FedWatch tool, markets are predicting a 90% chance that the Fed will keep interest rates unchanged at its policy meeting next month. This will have some impact on gold. In the near future, the market may retest the previously broken resistance level. In the long term, the market may receive support from various factors, including the buying activity of central banks. The strong and sustainable gold buying by central banks has provided a solid foundation for the recent price surge and will be the main driving force pushing the precious metal to new all-time highs in the new year. On the other hand, central bank buying could be the reason why gold has maintained a significant support level of $1800/ounce during the selling pressure caused by rising interest rates.
OANDA:XAUUSD
by AlselvSignals
1
New trading strategy for gold: increase prices to new high levelHello comrades, Today gold continues to trade around the 1913 USD mark with not much change compared to yesterday. From the 1D chart analysis, it can be seen that gold, after a strong price increase last Friday, is showing signs of price retesting after breaking out of the downward trend at 1910 USD. Currently, the immediate target for gold is gradually approaching the 1905 USD area (close to the operating area of EMA 34 and 89). If this target is achieved and gold maintains stable trading levels there, a new upward trend will occur with the nearest target at 1936 USD, followed by a higher peak at 1980 USD.
OANDA:XAUUSDLong
by Nolan_Signal
Gold price today: Buy it massively!Hello dear friends! Today, XAUUSD is trading at the level of 1917 USD and there haven't been many changes compared to the previous trading session. From now until the end of the week, the gold market is quite calm, as there is little macroeconomic data from the US being released. Currently, we need to wait for information from the Chairman of the Federal Reserve, Jerome Powell, on October 19 when he speaks at the Economic Club of New York. It is expected that in the near future, the long-term downward trend of gold will continue. Political uncertainties continue to be factors driving the upward momentum of gold. It is anticipated that by the end of this week, the price of gold will trade in the range of 1,900 to 1,950 USD/ounce.
OANDA:XAUUSDLong
by Karina_Bella
4
GBPUSD continues to decline as USD continues to dominateHello traders! GBP/USD closed the last two trading days of the previous week in negative territory. Although this currency pair attempted a modest recovery at the start of Monday, it failed to gain momentum. At the time of writing, GBP/USD continues to maintain a downward trend, with prices fluctuating around 1.217 and declining by 0.37% for the day. If safe-haven flows continue to dominate the market in the latter half of the day, the US dollar may remain resilient against its counterparts, making it difficult for GBP/USD to find support and continue its downward trajectory.
by Nolan_Signal
EUR/USD stays pressured near 1.0550Currently, most of the key economic indicators in the United States have exceeded expectations in October, highlighting the ongoing strength of the US economy and supporting demand for the EU. The dollar has been trading more firmly, although there is a risk that it may start to weaken "due to potentially less positive economic surprises from the US in the near future." I maintain my strategic view on a lower EUR/USD exchange rate, as I still see the possibility of a weaker USD." The US retail sales data at 12:30 GMT may be the most important data released this week. The DXY dollar index rose 0.2% to 106.444, while EUR/USD decreased 0.2% to 1.0549 at the time of writing.
Short
by Nolan_Signal
1
GBPUSD continues to plummet downhillHello dear traders, today the GBPUSD pair continues its downward trend, currently consolidating its gains at 1.2198 and showing no signs of stopping. My short-term target is at 1.2305. In the long run, this currency pair may continue its downward trend with a rejection at the previous resistance level. It is possible that GU will aim for the nearest low at 1.1800. This downward trend will continue unless there is any supportive news for this currency pair.
by AlselvSignals
USD/JPY gains traction above 149.60 amid the renewed USD demandHello traders! The USD/JPY pair is holding steady at 149.60 during the first trading hour in Europe on Tuesday. The demand for the US Dollar (USD) and the recovery of US Treasury bond yields have provided some support for this currency pair. Currently, market focus is on the Industrial Production and the speech by the Federal Reserve (Fed) of the United States later on Tuesday. On Wednesday, Japan's trade data will be released, followed by the National Consumer Price Index (CPI) report on Friday. These data points could provide clear direction for the USD/JPY pair, with the target still being to break above 150.000 for further advancement.
by Nolan_Signal
USDJPY is ready for the next price increaseHello dear friends! As predicted yesterday, USDJPY continues to rise with trading around 149.76. Currently, this currency pair is consolidating near the high level of 150.00 after receiving strong support from breaking out of the sideways channel at 149.42. Surpassing the 150.00 level will further drive the upward momentum of USDJPY. If you find this article helpful, please leave a like and follow to receive the latest updates on my new articles.
Long
by AlselvSignals
4
Gold price today (October 16)Hello Traders! Last week, we witnessed a fantastic performance by gold as it surged to a remarkable high of $1932 and broke out of its downward channel. Today, at the start of the precious metals trading session, there is a slight dip as prices test the breakout level, currently trading around $1919 - $1920. However, the current environment and global situation continue to support an upward movement in gold, so it is highly likely that we will soon see new higher price levels in the near future.
OANDA:XAUUSD
by Nolan_Signal
Gold emerged as a new breeze, the price increased sharply?Hello traders, Last week, gold witnessed its best weekly gain since March as the demand for safe-haven assets continues to rise amid the ongoing Israel-Hamas military conflict. In the current politically unstable environment, investors are flocking to gold. Additionally, the US tightening its sanctions on Russia's crude oil exports on Friday led to an increase in oil prices, reaching $90 per barrel. As oil prices continue to rise, gold's role as a safe-haven asset against inflation becomes even more beneficial. At the time of writing, gold is trading at $1912 per ounce.
OANDA:XAUUSDLong
by Nolan_Signal
2
EUR/USD trades with mild positive bias above 1.0500 markHello dear friends! Last week, EURUSD experienced a significant short-term recovery, but quickly returned to its previous downward trend, currently trading at a low level not seen in months at 1.0521. From the analysis chart, it can be observed that the prolonged downtrend channel has not been broken yet. Although there is some short-term recovery, it is still not enough momentum to break free from the downward trend. Therefore, it is expected that this week will continue to be a prolonged downtrend with limited fluctuations ranging from 1.0639 to 1.0323. The important levels to consider are: - Resistance levels: 1.063; 1.055 - Support levels: 1.050; 1.049; and 1.046.
by Karina_Bella