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XAUUSD: Gold price decreased slightly after FOMC meeting minutesDuring the January 3 session, world gold prices decreased slightly mainly due to the increase in the USD. The latest FOMC meeting minutes show that the Fed will not rush to loosen interest rates, prolonging gold's decline. However, gold's initial increase will be maintained when the US interest rate cut plan is expected to be carried out this year and geopolitical tensions increase. Tomorrow, the market will receive the US employment report, this data can create fluctuations in gold prices as this report will help the market evaluate the economy. Currently, gold is recovering slightly to $2,042. The SPDR Gold Shares fund on January 3 continued the decline from yesterday when the fund's holdings slid to 874.21 tons.
OANDA:XAUUSD
by SantaTradeGold
Technical analysis shows that GOLD is likely to declineGold prices did not fluctuate much last Friday, basically oscillating around 2065, with an amplitude of $16, and finally closed with a Doji Star with long upper and lower shadows. It was a continuous trend from last Thursday. Recently, with the lack of crucial data and speeches, gold prices' volatility has fallen. The Red Sea situation continued to heat up last Saturday, and with the influence of geopolitics, gold prices could be supported. However, with optimistic rate-cut expectations to be adjusted, the overall gold price lacks direction, so it will mainly fluctuate! Looking at the technical chart, the current gold price is still under pressure in the resistance area of 2075-2080, which also indicates that gold prices do not have the momentum to break through that range in the short term. Judging from the 1-hour chart, the MACD golden cross began to widen, so a rebound can be seen at the hourly level. Investors need to watch for resistance near the MA60 around 2073. However, the MACD death cross in the 4-hour chart began to widen. It is estimated that gold has limited room for a rebound during the day. At the same time, the bearish divergence in the daily chart is prominent,so we do not recommend medium-term bullish investors buy gold now. Today, aggressive traders can still buy low and sell high in the range of 2055-2073.
TVC:GOLDShort
by carefulLion07pab
GBP/USD tends to increase when it meets supportThe GBPUSD has been forming an upward structure with higher highs after breaking above a key downtrend line in early November. Although the GBPUSD's uptrend came to a temporary halt at the four-month high level of 1.2826, the completion of the golden cross between the 50- and 200-day SMAs is expected to provide upside momentum. However, during the European session on Tuesday, the GBPUSD fell sharply during the day as the USD rose sharply and formed a death cross downward structure in the 4H timeframe, potentially creating more uncertainty for the GBPUSD in the near term. Now, we believe that as long as Wave 4 of the "upward impulse waves" structure has not been broken, the end of the "upward impulse waves" is still worth looking forward to. Given that the short-term oscillators are continuing to provide cautiously positive signals, the bulls may try to eliminate the latest weakness and overcome the December resistance at the 1.2794 level. A break above this resistance could open the door to a four-month peak at 1.2826. If it fails to stay here, the GBPUSD could move towards the June high of 1.2847 until it reaches the 1.2900 level. On the other hand, if the GBPUSD reverses lower, several previous support levels at 1.2642 and 1.2612 could now become the initial line of defense. A break below that bottom could see the price fall to recent support at 1.2611, or even lower, with upward Wave 4 1.2500 likely to provide a correction. Overall, risks remain cautiously tilted to the upside in the near term, even though the GBPUSD rally appears to be losing its momentum. To change this situation, the price cannot go below a series of key supports or the uptrend will be reversed. It is recommended to buy the dips.
Long
by carefulLion07pab
1
EUR/USD is trending downAs all investors anticipate for the upcoming Non Farm Payroll on Friday, the Dollar gains its strength on the 2nd day of 2024. Trading at 102.10, the US Dollar experienced a significant increase, indicating a noteworthy uptrend in the index. This upward shift can be attributed to market anticipation for guidance and investors turning to the USD as a safe haven in anticipation of key labor market reports scheduled for release later this week. The economic calendar will be packed with news releases starting on Wednesday, at 23:00 (GMT +8), we have the U.S. ISM Manufacturing PMI (Dec) and U.S. JOLTS Job Openings (SA) (Nov). Besides that, there will be a short FOMC Meeting coming up, it is something to look forward to as the Fed has been mentioning that rate cuts is around the corner, we could hear some dovish or hawkish comments coming up that would determine the Dollar direction for this week. EUR/USD was trending up aggressively until it got rejected by a strong resistance level at price 1.11392. It has also broken out of the short term uptrend support zone which indicates EUR/USD could be in a short term downtrend which is why I am interested in looking for shorts for short term. Besides that, one of the reason I am looking for shorts is we have a huge imbalance to be filled . The imbalance will be my take profit target for the shorts.
Short
by carefulLion07pab
Technical analysis shows that XAUUSD is likely to declineGold prices did not fluctuate much last Friday, basically oscillating around 2065, with an amplitude of $16, and finally closed with a Doji Star with long upper and lower shadows. It was a continuous trend from last Thursday. Recently, with the lack of crucial data and speeches, gold prices' volatility has fallen. The Red Sea situation continued to heat up last Saturday, and with the influence of geopolitics, gold prices could be supported. However, with optimistic rate-cut expectations to be adjusted, the overall gold price lacks direction, so it will mainly fluctuate! Looking at the technical chart, the current gold price is still under pressure in the resistance area of 2075-2080, which also indicates that gold prices do not have the momentum to break through that range in the short term. Judging from the 1-hour chart, the MACD golden cross began to widen, so a rebound can be seen at the hourly level. Investors need to watch for resistance near the MA60 around 2073. However, the MACD death cross in the 4-hour chart began to widen. It is estimated that gold has limited room for a rebound during the day. At the same time, the bearish divergence in the daily chart is prominent,so we do not recommend medium-term bullish investors buy gold now. Today, aggressive traders can still buy low and sell high in the range of 2055-2073.
OANDA:XAUUSDShort
by carefulLion07pab
XAUUSD is likely to fall when it encounters resistanceThere were moderate movements during yesterday's Asian session and gold fluctuated slightly up from $2067. During the US trading session, gold quickly increased in price along with the depreciation of the USD and surpassed the resistance zone, once reaching 2084 USD. Finally, gold closed the daily chart on a positive note to post its fifth consecutive gain, showing a clear bullish trend. This is how trends work. Once it is formed, it will not change anytime soon and you will be taking a big risk if you act against the trend. However, it will depend on your trading cycle. For day trading, both bears and bulls have opportunities, and price and timing will be important. Currently, gold has hit previous resistance at $2070-$2075, which should become significant support for today's trade. If gold fails to fall below that range, it will reach new highs or even reach $2,100. In the 1H chart, a golden cross is expanding and it is away from the overbought zone, indicating more upside space. However, the MACD shows major pullback risks in the 4H and daily charts, and bearish divergence appears to be increasing. Therefore, investors who maintain an optimistic view in the medium term should not follow the current uptrend. Today, the trading range will be from $2070 to $2047, with aggressive investors advised to buy low and sell high.
OANDA:XAUUSDShort
by carefulLion07pab
GBPUSD is trending upSupported by positive market sentiment, GBPUSD rose above 1.2800 on Thursday and settled at the 61.8% Fibonacci retracement level at 1.2740 (from July 14 high of 1.3142). to an October 4 low of 1.2037). The rising 20-day exponential moving average (EMA) is placed at 1.2670, projecting continued upside support for the British pound. The relative strength index (RSI) has risen above 60. The sustained work on these technologies will trigger strengthening, the target gem completing the "upward impulse waves" at 1.3000. On the downside, activity below minor support at 1.2698 could cause trading sentiment to return to neutral. However, if free support at 1.2499 is maintained to prevent a downturn, further recovery phases remain beneficial. From a broader perspective, the action starting from the midpoint at 1.3141 is seen as a corrective pattern from the upside at 1.0351. Move up from 1.2036 is considered the second in progress (of this pattern). The upside is expected to be limited at 1.3141 to form the third component. At the same time, support functioning beyond 1.2499 would indicate the start of the third part of the uptrend. In terms of trading, buying at low prices is the recommended strategy.
Long
by carefulLion07pab
EURUSD is likely to increase when it bottoms againEUR/USD just hit a high, breaking through the 1.1020 and 1.1101 hurdles to reach 1.1121—a five-month high and up 0.72%. But it's the holiday season and the low trading climate can make things unpredictable. It's likely we will see a temporary spike in rates and then a drop below 1.10 as things return to normal. If you're thinking of selling, keep a close eye on any signs of change. Our next challenge? Resistance level 1.125—notice how the market behaves around that level. Once things stabilize and normal trading begins, we will get a clearer picture. We may be correcting back to the broken resistance level and we may have an opportunity to buy EURUSD at a discount targeting the resistance zone.
Long
by carefulLion07pab
Gold is likely to fall when it encounters resistanceThere were moderate movements during yesterday's Asian session and gold fluctuated slightly up from $2067. During the US trading session, gold quickly increased in price along with the depreciation of the USD and surpassed the resistance zone, once reaching 2084 USD. Finally, gold closed the daily chart on a positive note to post its fifth consecutive gain, showing a clear bullish trend. This is how trends work. Once it is formed, it will not change anytime soon and you will be taking a big risk if you act against the trend. However, it will depend on your trading cycle. For day trading, both bears and bulls have opportunities, and price and timing will be important. Currently, gold has hit previous resistance at $2070-$2075, which should become significant support for today's trade. If gold fails to fall below that range, it will reach new highs or even reach $2,100. In the 1H chart, a golden cross is expanding and it is away from the overbought zone, indicating more upside space. However, the MACD shows major pullback risks in the 4H and daily charts, and bearish divergence appears to be increasing. Therefore, investors who maintain an optimistic view in the medium term should not follow the current uptrend. Today, the trading range will be from $2070 to $2047, with aggressive investors advised to buy low and sell high.
TVC:GOLDShort
by carefulLion07pab
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
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
Gold prices closed at high prices creating momentum for 2024This morning, global spot gold prices were at $2,053.2 per ounce and gold futures were at $2,064.5, as markets were still closed after Christmas. Last week, global gold prices registered a slight increase in the last trading session, but the $2,050 per ounce level remained a key resistance level that would be difficult for the precious metal to overcome. However, prominent commodity investor Dennis Gartman said that while stressing the increased risks following the recent sell-off in gold futures prices to an all-time high of more than $2,150 an ounce, He said prices could rise in the short term. Dennis Gartman remains bullish on gold, saying the precious metal is supported by security demand amid concerns about increasing geopolitical instability. While the US Federal Reserve's monetary policy will be the biggest driver of the gold market in 2023, demand for safe-haven assets is being driven by concerns about geopolitical instability, Gartman said. It is said that there is. Inflation risks in the near future will likely cast a shadow.
FXOPEN:XAUUSDShort
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 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
1