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GBPJPY: The USD stabilized at the end of the week, the British PThe greenback steadied on Friday after dropping floor withinside the preceding consultation on susceptible jobs records, whilst sterling edged up following stronger-than-anticipated boom figures. At 04:10 ET (08:10 GMT), the Dollar Index, which tracks the dollar towards a basket of six different currencies, changed into buying and selling simply better at 105.115. The USD is heading in the right direction for small profits this week The USD steadied on Friday and is on route to advantage barely this week after falling on Thursday after records launched displaying a larger-than-anticipated advantage in subject matter records unemployment blessings request}} weekly. This proof of a cooling US hard work marketplace has strengthened a few expectancies that the Federal Reserve will start slicing hobby costs in September. Still, hard inflation stays the Fed`s foremost factor of contention, with a chain of officers caution of such remarks this week which have boosted the greenback this week. San Francisco Federal Reserve President Mary Daly stated Thursday that there is "considerable" uncertainty approximately in which U.S. inflation will head withinside the coming months. She added: “In a state of affairs in which inflation stays at... levels, with out in addition development being made, it isn't always suitable to begin adjusting costs until we see a slowdown withinside the hard work marketplace ”.
Short
by Chart_MasterPro
USD heavily influenced by Fed rate expectationsWhen assessing that prospect, there are worse market indicators to monitor than the front-end of the US bond curve. As this chart shows, the daily correlation between the US dollar index and US two-year bond yields over the past quarter stands at 0.89, implying the dollar usually follows movements at the front-end of the US curve. Gold looks great on he charts, continuing to consolidate above former record highs within a broader uptrend. With RSI breaking its downtrend and MACD looking like it may soon crossover from below, momentum looks to be shifting higher once again. Having tried and failed on multiple occasions to break below $2285 in May, that would provide a decent entry level for longs, should the price return there. A stop could be placed below the level for protection. Alternatively, should the price get a foothold above $2355.10, that too would be a decent entry level, allowing for a stop to be placed below targeting a retest of the 2024 high above $2430.Right now, the jury is out when it comes to whether we’re witnessing a turning point for the big dollar with futures remaining close to key horizontal resistance with the 50 and 200-day moving averages sitting just above. This zone looms as important when it comes to directional risks for the dollar and short-end rates, managing to repel an attempted break higher last Friday following the release of softer-than-expected payrolls and ISM services PMI data.
OANDA:XAUUSD
by MrTrongVo
GBP/USD Short, EUR/GBP Short and EUR/USD ShortGBP/USD Short Minimum entry requirements: • If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it. EUR/GBP Short Minimum entry requirements: • 1H impulse down below area of value. • If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it. EUR/USD Short Minimum entry requirements: • 1H impulse down below area of interest. • If 2 touch 5 min continuation, reduced risk entry on the break of it. • If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it.
Short
by StewySongs
3
XAUUSD prices may decrease in the short termWorld gold spot price is around 2,306.4 USD/ounce, up 5.4 USD/ounce compared to last week. Gold futures price in June 2024 on the Comex New York floor is at 2,304.7 USD/ounce. Last week, the world gold price in the first session of the week traded at 2,335 USD/ounce. After that, the gold price could not be kept above 2,340 USD and began to decline, the lowest level of the week was below 2,283 USD. World gold price increased again above 2,325 USD/ounce after the Federal Reserve (Fed) announced information on the interest adjustment roadmap. However, gold prices could not keep their upward momentum and weakened at the end of the week. The latest weekly survey by Kitco News shows that experts forecast extreme value in terms of gold outlook development in the short term. Most retail traders expect gold prices to fall or move sideways. According to a Wall Street survey, 40% believe that gold prices will continue to move sideways, and 33% predict they will decrease. This week, the market is interested in notable economic information such as the US 10-term bond fight, preliminary consumer sentiment report from the University of Michigan,...
OANDA:XAUUSD
by MrTrongVo
XAUUSD: Gold price forecastGold price forecast Chantell Schieven, Head of Research at Capitalight Research, said that the gold market is starting to enter a period of seasonal weakness. In this environment, gold prices are likely to fall back to $2,150/ounce. According to Marc Chandler, Managing Director at Bannockburn Global Forex, gold prices may decline in the short term. Gold prices can trade in the range of 2,250-2,260 USD/ounce. However, some experts assess that gold demand is still increasing. Adam Button, Head of Currency Strategy at Forexlive, forecasts that Chinese demand will increase as the market returns to trading after the holiday.
OANDA:XAUUSDShort
by Chart_MasterPro
GBPUSD: Dollar steadies after falling overnight, nonfarm payrollThe dollar index and dollar index futures were both steady in Asian trading after falling 0.6% in overnight trading. Pressure on the USD comes from a strong yen, while Fed Chairman Jerome Powell reiterated that the bank will not raise interest rates further. However, the outlook for the dollar remains upbeat thanks to the prospect of a Fed rate cut being pushed back to at least the fourth quarter. The focus now turns to nonfarm payrolls data for April, released on Friday, for further signals on the economy and interest rates.
Long
by Chart_MasterPro
AUDUSD: AUDUSD technical analysis todayMost Asian currencies weakened on Friday, while the dollar steadied in anticipation of key inflation data expected to influence the Federal Reserve's stance on cuts. interest rates. While the dollar's decline overnight - after weaker-than-expected US gross domestic product data - brought some relief to Asian currencies, this was largely offset offset by continued bets on higher US interest rates for longer. The dollar also eased some of the losses in Asian trade.
Long
by Chart_MasterPro
1
XAUUSD: The USD fell slightly as the market anticipated the Fed The US greenback skilled a small decline today, with buying and selling volumes falling because of a vacation in Japan. The yen, euro and pound continue to be close to their lowest tiers from ultimate week`s chaotic session. The Japanese yen confirmed mild profits in opposition to the greenback, buying and selling at 158.05, up almost 0.2%. This modest circulate follows a bigger circulate on Friday, which noticed the yen circulate via a variety of almost 3.five yen, from 158.445 to 154.97. The volatility follows the Bank of Japan's selection to keep its coverage settings and supplied constrained perception into any capability modifications to its bond-shopping for program , that could aid the yen's value. Investors at the moment are turning their interest to the United States Federal Reserve's (Fed) coverage evaluation scheduled to take area from April 30 to May 1, with expectancies of a postpone in hobby price cuts later. Persistent US inflation and careful remarks from Federal Reserve officials, such as Chairman Jerome Powell. Market members are searching ahead to the Federal Open Market Committee (FOMC) meeting, predicting extra balanced buying and selling of the greenback-yen pair than in current weeks, prompted via way of means of expectancies of a a extra energetic Fed.
OANDA:XAUUSDShort
by Chart_MasterPro
GBPJPY: Yen struggles as BOJ faces yield dilemmaThe Japanese yen keeps to stand vast demanding situations because it hit a 34-yr low towards the greenback, with little expectation that the Bank of Japan (BOJ) will improve hobby costs at its meeting. upcoming coverage on Friday. The significant bank, which has no forex mandate, is beneathneath growing strain because the weakening yen influences inflation via way of means of growing the fee of imports. Despite guidelines from BOJ Governor Kazuo Ueda approximately the opportunity of destiny hobby fee hikes, forex markets have in large part unnoticed those signals. In March, the BOJ raised hobby costs for the primary time in 17 years, however the flow did little to reduce the yen`s decline. Traders continue to be targeted at the more potent greenback and the vast yield differential among the USA and Japan. The yen is presently extra stricken by US trade costs and yield differentials. Swami additionally talked about that whilst a complete normalization of BOJ coverage may want to assist enhance the yen, the important thing thing may be the Federal Reserve's actions. Market expectancies for the Federal Reserve have changed, with fewer hobby fee cuts than anticipated this yr because of symptoms and symptoms of chronic US inflation and a lackluster financial recovery. This extrade in outlook indicates that US short-time period hobby costs may want to continue to be above 5.25% for an prolonged period, whilst Japanese short-time period hobby costs are at 0.1%. Even with the 22 foundation factor boom priced in for Japan this yr, it hasn't executed a great deal to shut the gap.
Short
by Chart_MasterPro
EURJPY: Asian foreign exchange increased thanks to the decline oYen falls as USDJPY heads in the direction of a hundred and fifty five However, the Japanese Yen did little to enhance in opposition to the weaker dollar, with USDJPY buying and selling close to a 34-12 months excessive and close to the a hundred and fifty five level. The yen weakened whilst a sequence of Japanese officers warned of presidency intervention to help the currency. Traders see USDJPY at a hundred and fifty five as in all likelihood to draw authorities intervention. Yen weakens beforehand of this Friday`s Bank of Japan Meeting, wherein the important financial institution is predicted to go away hobby prices unchanged after a anciental hike in March. However, the outlook for inflation and boom stays uncertain. The financial system could be carefully watched.
Long
by Chart_MasterPro
EUR/JPY Short and EUR/USD ShortEUR/JPY Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of interest. • If 2 touch 5 min continuation, reduced risk entry on the break of it. • If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it. EUR/USD Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of value. • If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it.
Short
by StewySongs
EUR/GBP Long, AUD/NZD Short and GBP/CHF LongEUR/GBP Long Minimum entry requirements: • If 2 touch 1H continuation, 15 min risk entry within it, or reduced risk entry on the break of it. AUD/NZD Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of interest. • If 2 touch 5 min continuation, reduced risk entry on the break of it. • If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it. GBP/CHF Long Minimum entry requirements: • 1H impulse up above area of interest. • If 2 touch 1H continuation, 15 min risk entry within it, or reduced risk entry on the break of it.
by StewySongs
3
AUDUSD: The dollar headed for a second weekly gain amid interestThe US dollar is on track to gain for a second straight week today, underpinned by a strong US economy that has changed expectations for an interest rate cut by the Federal Reserve. The greenback's 0.17% gain for the week was tempered after Thursday's warning message from financial leaders in the US, Japan and South Korea regarding the weakness of the Japanese yen and won by South Korea, suggesting the possibility of coordinated intervention. Asian currencies have been hit particularly hard by a stronger dollar. Carol Kong, a currency strategist at Commonwealth Bank of Australia, noted the importance of the joint statement and acknowledged the growing possibility of Asian foreign exchange intervention. However, Kong expressed uncertainty about US involvement, arguing that a stronger dollar would h
Short
by Chart_MasterPro
AUD/CAD Short, AUD/NZD Short, NZD/CHF Short and NZD/USD ShortAUD/CAD Short Minimum entry requirements: • If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it. AUD/NZD Short Minimum entry requirements: • If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it. NZD/CHF Short Minimum entry requirements: • If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it. NZD/USD Short Minimum entry requirements: • If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it.
Short
by StewySongs
4