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Downtrend and Short-Term Bullish Outlook for GoldThe price of gold experienced a modest decline towards the end of Tuesday's trading session in the U.S. after reaching a high of 2,334 USD. During the Asian trading session the following day, XAUUSD continued to drop to 2,323 USD, marking a decrease of 0.11%. Despite the weakening of the U.S. dollar following the release of weaker-than-expected U.S. PMI data, gold prices still couldn't sustain their upward momentum. This could be attributed to expectations regarding the Federal Reserve's potential interest rate cuts. From a technical standpoint, there are indications that gold may continue to trend downwards. On the 1-hour chart, the downward trend is supported by technical indicators. Gold prices are currently operating between the Simple Moving Averages SMA 20 and SMA 50, signaling short-term bullishness. Anticipated that prices will test the SMA 50 before potentially experiencing further significant declines.
OANDA:XAUUSD
by Stephen_Anders
9
Market Caution And Challenges EUR/USDThe EUR/USD market is stabilizing around the 1.0700 level after a positive day on Tuesday. However, PMI data from the US dampened the value of the US dollar that day, pushing up the EUR/USD price. At the beginning of Wednesday, the market showed more caution and supported the USD, posing challenges to the rise of EUR/USD. However, despite the market's caution, technical indicators like SMA and RSI indicate that the upward trend is still maintained. The Relative Strength Index (RSI) remains above 50, indicating the strength of the current upward trend. Expectations are for the EUR/USD to continue stabilizing and potentially increasing in the near future.
by Daisy_Anna
1
EUR/USD Holds Steady at 1.0700 Level with Positive IFO DataIn the European trading session on Wednesday, the EUR/USD pair continued to close steadily around the 1.0700 level. Positive sentiment from Germany's IFO psychological data helped stabilize the Euro. On the 4-hour chart, despite recent price declines, the Simple Moving Average SMA 20 remains above the SMA 50 after completing a bullish crossover on Tuesday. Additionally, the Relative Strength Index (RSI) consistently stays above 50.
by Stephen_Anders
Gold: Downward trend continue to maintain in the near futureGold is facing difficulties in capitalizing on the previous day's gains and is oscillating within a narrow range as it enters the European trading session on Wednesday. Global risk sentiment continues to be supported by reduced concerns over escalating geopolitical tensions in the Middle East. This is attributed to the decline in the US dollar (USD) price, coupled with reinforced expectations from the Federal Reserve. From a technical perspective, the upward trend remains intact, but gold prices are currently showing signs of correction. It is anticipated that there will be a retracement towards Fibonacci's support level in the near future.
OANDA:XAUUSD
by Stephen_Anders
4
Gold Price Today: Gold's Adjustment Signals In the Tuesday trading session in the U.S., Gold slipped as it dropped to the crucial support level of 2,300 USD, but quickly found stability thereafter. The recovery of gold prices coincided with the weakening of the U.S. dollar after the PMI data for the United States was announced weaker than expected. From a technical standpoint, looking at the chart, gold is showing signs of slight adjustment, especially as the SMA 20 is trending downwards compared to longer SMAs. It is anticipated that gold prices will adjust and retest the area near the 0.5-0.618 Fibonacci level before continuing its downward trajectory.
OANDA:XAUUSD
by Daisy_Anna
Technical Analysis: EUR/USD Shows Signs of Short-Term Recovery EUR/USD has experienced a significant momentum shift, surging above the 1.0650 level at the start of the European trading session. The short-term technical outlook for this currency pair indicates a gathering momentum for recovery. On the 4-hour chart, we observe the price closing above both the 20-period and 50-period Simple Moving Averages (SMAs), along with the Relative Strength Index (RSI) surpassing the 60 mark. This reflects a positive shift in the short-term outlook for EUR/USD. However, the price is still maintaining its downward trend, and sustaining above the SMAs may only represent a temporary phase. It is conceivable that the price will continue to test and trade below these SMA levels in the near future.
by Daisy_Anna
Gold Market Analysis: Gold Continues Downward Trend Gold extended its downward momentum at the start of Tuesday's Asian trading session, dropping to 2,300, down more than 2% from Monday. The decline seemed somewhat contained due to speculation that major central banks would cut interest rates later this year. From a technical standpoint, this sharp decline has brought gold prices to touch the simple moving averages (SMA), along with the Relative Strength Index (RSI) hovering around oversold territory, nearing the 28 mark. However, as the downward momentum of gold prices has reached a significant level, there are indications of a correction. It is anticipated that gold prices will continue to touch the SMA 20 level before witnessing a recovery from the sharp decline.
OANDA:XAUUSD
by Daisy_Anna
EUR/USD Hovers Near 1.0650 Amid Modest USD RecoveryEUR/USD remains near the low of around 1.0650 in the European trading session on Tuesday. The modest recovery of the US Dollar (USD) has driven EUR/USD to continue its downward trend. According to the analysis from the 4-hour chart, the downtrend of the EUR/USD currency pair seems to show signs of notable recovery. Anticipated that there will be a testing phase for the Simple Moving Average SMA 20 before resuming the downward trend. However, this also needs to be carefully considered in conjunction with the overall market conditions and other factors such as economic and political news impacting currency pairs. The uncertainty about the market direction can create a challenging trading environment, and investors need to evaluate and manage risks prudently in their investment decisions.
by Stephen_Anders
2
LINK/USDT 4HInterval ChartHello everyone, let's look at the 4H LINK to USDT chart as we can see that the price is moving below the local downtrend line. Let's start by setting goals for the near future that we can include: T1 = $16.14 T2 = $17.38 T3 = $18.75 T4 = $20.54 AND T5 = $22.88 Now let's move on to the stop-loss in case of further market declines: SL1 = $14.39 SL2 = $13.34 SL3 = $11.79 AND SL4 = $9.16 Looking at the RSI indicator, it can be seen that it began to turn around before the upper limit, while the STOCH indicator, despite a slight price recovery, returned to the lower part of the range, which creates room for a new increase.
by cryptodailyuk
Gold Fluctuations and Upcoming TrendsThe gold market (XAU/USD) is facing strong selling pressure for the second consecutive day, dropping to near its lowest level in over two weeks, hovering around the $2,300 mark before entering the European trading session. Despite overnight attacks on US forces in the Middle East, investors remain optimistic, believing that the conflict between Iran and Israel will not escalate further. Furthermore, expectations that the Fed may postpone interest rate cuts have reduced demand for the yellow metal. From a technical perspective, looking at the chart reveals that gold is moving within a narrow range, indicating weak momentum from both sides. It is anticipated that gold will continue to decline as it breaks through this support level, potentially pushing prices even lower.
OANDA:XAUUSD
by Stephen_Anders
7
Gold Market Volatility:Gold Prices Extend Significant DropYesterday, the gold market experienced significant volatility, with prices falling below $2,400 and continuing to decline below $2,300 during Tuesday's Asian trading session. This decline was triggered by escalating tensions between Israel and Iran. Market participants are betting that the ECB will cut interest rates in June, with three rate cuts expected throughout the year. Technically, gold prices show signs of correction towards the Simple Moving Average SMA 20 around the 0.5-0.618 Fibonacci level. However, gold prices are currently supported by downward trend technical indicators, with prices trading below the SMA and the Relative Strength Index (RSI) in oversold territory, indicating strong downward momentum.
OANDA:XAUUSD
by Stephen_Anders
8
Technical Analysis: USD/JPY Increase Price OutlookThe Japanese Yen is currently receiving support from government intervention, but differing expectations from the Bank of Japan (BoJ) and the Federal Reserve (Fed), along with reduced tensions in the Middle East, have diminished JPY's role as a safe haven asset. From a technical standpoint, indicators continue to signal an upward trend. The Relative Strength Index (RSI) is above 60 and prices are trading above simple moving averages (SMA), indicating stability and growth potential for the Japanese Yen in the market.
by Stephen_Anders
2
Gold Price Analysis: Short-Term Corrections and Long-Term TrendsThe price of gold has dropped to near the 2,350 mark in the European trading session, continuing its downward trend after breaking through the SMA lines in the Asian session on Monday. The prolonged decline in gold prices may be attributed to the increase in US Treasury bond yields, coupled with a subdued market sentiment following a weekend without any escalation in political tensions in the Middle East. In the short term, gold prices may undergo a corrective rebound phase, potentially reaching the 0.5-0.618 Fibonacci retracement level before testing lower price levels once again.
OANDA:XAUUSD
by Stephen_Anders
10
Market Analysis: Gold Correction Signals Amid Political CalmGold has experienced a significant drop, pushing prices below the $2,340 threshold in Monday's US trading session. The easing of political tensions has provided clear indications that gold is gearing up for a profound adjustment. Additionally, expectations that the Federal Reserve will postpone interest rate cuts amidst stable inflationary conditions have further bolstered the strength of the US dollar, driving capital away from safe-haven assets like precious metals. From a technical standpoint, the short-term outlook for gold suggests a reversal adjustment as it heads towards the 20-day simple moving average (SMA) before continuing its downward trajectory.
OANDA:XAUUSD
by Stephen_Anders
1
BTC/USDT 4HInterval Chart ReviewHello everyone, let's look at the 4H BTC to USDT chart as we can see that the price is moving below the local downtrend line. Let's start by setting goals for the near future that we can include: T1 = $66258 T2 = $67,856 T3 = $70048 AND T4 = $72912 Now let's move on to the stop loss in case of further market declines: SL1 = $63,919 SL2 = $62,263 SL3 = $61,112 AND SL4 = $59,590 Looking at the RSI indicator, we can see an exit from the downward trend line, with room for further upward movement, while the STOCH indicator is moving at the upper limit, which may affect the current growth halt and also provide a rebound.
by cryptodailyuk
1
EUR/USD Continue to Face Downward Pressure EUR/USD continues to face downward pressure as it drops below the 1.0650 level during the European trading session on Monday. The renewed strength of the US Dollar does not allow this currency pair to gain traction, especially as focus shifts to the speech by ECB President Lagarde. Chart analysis indicates that EUR/USD is continuing to approach support levels and forming a double-top pattern. It is expected that in the short term, the price will approach the support zone at 1.0600, which investors need to pay attention to when making trading decisions.
by Stephen_Anders
2
Analyzing Gold Price: Gold's Decline Amid Rising US Bond YieldsIn the European trading session, gold continued to decline to near 2,350 USD after retreating during the Asian session on Monday. This persistent decline is attributed to the increase in US Treasury bond yields. Additionally, the political situation in the Middle East has eased, reducing concerns and the search for safe-haven assets like gold. Looking at the chart, we can see that the price has broken through the trend line and formed a double top pattern. In the near future, gold prices may continue to undergo further corrections and trend towards a downward direction, especially as technical indicators indicate market weakness.
OANDA:XAUUSD
by Daisy_Anna
ETC/USDT 4HInterval ChartHello everyone, let's look at the 4H ETC to USDT chart as we can see the price is bouncing from the lower boundary of the downtrend channel. Let's start by setting goals for the near future that we can include: T1 = $28.51 T2 = $29.92 T3 = $31.92 T4 = $35.08 AND T5= $37.63 Now let's move on to the stop-loss in case of further market declines: SL1 = $22.82 SL2 = $20.04 AND SL3 = $18 Looking at the RSI indicator, there is still room for a continuation of the upward movement, while on the STOCH indicator we have exceeded the upper limit, which may result in a deceleration of the current movement.
by cryptodailyuk
BTC rebounded in the support zoneHello everyone, let's take a look at the BTC to USDT chart on a 4-hour time frame. As we can see, the price remains in the newly created channel, in which we can see how the lower border of the channel coincided with a strong support zone from $62,581 to $59,738, thanks to which the price stayed and did not return to the area of $51,600. Currently, we can see a break above the first resistance line at the level of $64,290, at which we are fighting to maintain, but further significant resistance may appear at the price of $67,259, and then a resistance zone from $71,753 to $73,812 is visible only when the price breaks through above. this zone will be able to move towards $80,000. However, if we pay attention to the RSI and STOCH indicators, we will see that the RSI indicator still has room for the price to continue its upward movement, but the STOCH indicator is entering the upper limit of the range, which may affect the upcoming slowdown of the upward movement, or even give another attempt to recover.
by cryptodailyuk
Technical Analysis: Market Volatilitys and GBP/USD DowntrendThe British Pound is declining against the US Dollar following a day of volatile trading due to escalating Israel-Iran conflict. Leading figures from central banks, including the Bank of England (BoE) and the Federal Reserve, continue to make waves in the financial markets. Overall, the GBP/USD currency pair remains within a downtrend channel. This is evidenced by the price dropping below the key threshold at 1.2400. Based on technical analysis, examining the chart reveals that the price has broken through the trendline and consistently formed new low points, clear indicators of a strong downward trend.
by Daisy_Anna
Technical Analysis: EUR/USD Rebounds Amid Middle East The EUR/USD pair has witnessed a notable recovery above the 1.0650 level. Reports of escalating tensions in the Middle East conflict have prompted investors to shift their focus towards the US dollar (USD) as a safe haven, leading to a decline in the EUR/USD pair. From a technical standpoint, although the price is still maintaining a downward trend, signs of a recovery have emerged. It is anticipated that the price will test the SMA 50 area before resuming its downward trend.
by Daisy_Anna