Get started

Trednline

Gold Prices Drop Sharply After Peaking – Will Recovery Return?Hello everyone, Today, November 1, 2024, the global gold price has unexpectedly reversed sharply from an all-time high and is currently trading around 2,745 USD/ounce. The main reason for this decline is the release of U.S. economic data indicating signs of stability and recovery. This diminishes the appeal of gold as a safe-haven asset, while U.S. government bond yields rise and the U.S. dollar continues to strengthen. In the short term, gold prices may remain under pressure if U.S. economic data continues to improve, especially if employment and inflation reports show a positive outlook. However, other risk factors such as geopolitical conflicts or global financial instability could support gold prices. If signs emerge that the Federal Reserve (Fed) will slow the pace of monetary tightening, this could provide momentum for gold prices to rise again.
FOREXCOM:XAUUSD
by Ademha
VNINDEX - 1D - DROPHello all my subscribers. Today, I will express my idea about VNINDEX movement in next couple of weeks. 1. General: Price is still in downward trend line with lower following tops (red arrow). Bull also try to get their dominance but unsuccessful with lower following bottoms. Bear completely controls the market, proved by downward's slope. That is just basic analyst, it is not strong enough for making conclusion for a strong reduction movement. Therefore, I want to consider additional indicators. 2. Trend line: from 17 May 2022 to current time, bull tried to show its resistance but last effort was destroyed by "big red candle stick" at 06 July 2022. Many blind traders say that " JUST BEAR TRAP". This is a baseless perspective. My following analyst will prove that this is not bear trap. 3. Candle stick pattern: at 15 July 2022, VNINDEX closed with inverted hammer. Beside, this candle stick just touched downward trend line and created long candle beard. The high probability that this is third lower top. 4. RSI: this is my favorite indicator, it always give me reliable signals about current fluctuation. Now, RSI is, moving 50 as proof that market is still in bear. 5. MACD: it shows us some positive considerations such as MACD line cut Signal line or histogram's slope is moving up. But it is not strong enough for reversal movement. Conclusion: There are two material considerations in my analyst, price broke down upward trend line and RSI is now under 50. In short-term, price also can make a small pull-back and create "dead cat bounce". Because of these reasons, I recommend that we should wait for VNINDEX reaches 946 for making next decision. Finally, I will show you same movement in the past. Please pay your attention to my drawing range box. Price broke down upward trend line created from 28 Jan 2021. At the same time, RSI was under 50. After that, price tried to make stretched movement but finally, a super strong reduction movement happen, from 1536 to 1170. These are all my considerations for VNINDEX. I hope that it will be useful for all of you. Feel free leave your feedbacks and questions.
HOSE:VNINDEX
by Viktortea
Another Bullish Angle of AUD/CADThe AUD/CAD has been continuing its new bullish phase , following the moving averages indicators, the price is currently above the 200, 50 and 21-day MA (Blue, Black and Purple line). And this reveals a strong trend in the market. The 50-day SMA is about to cross over the 200-day SMA which means the price is Golden for the Buyers. The bull started with a very strong momentum since the 18th in driving the price upwardly, but they have 0.9300 psychology level to deal with before the bullish movement could be ascertain on a long term and probably moving towards the 0.9400 as the next mark. That said, any break below the 0.9240 might result to the bears taking over the market and driving the price lower.
Long
by Adefxc
EURUSD On Down Slide Path.EURUSD is trading in a falling wedge pattern in a bigger trend, within the falling wedge, it is also trading in channel pattern. We might see more downside in EURUSD from the current level. As we can see, the falling wedge resistance line and parallel channel resistance line overlap each other, so there is strong resistance for upside in EURUSD. We might see downside towards the support line, as we can see in the chart. If You Like Idea Do Follow/Comment/Like For More Quick Updates. Note - Trade With Proper Risk Management System. Thanks
Short
by Fx_Trader_ViSa
USDCAD New Trend On Upside.USDCAD was trading in falling wedge pattern for a very long time now it has broke-out from that pattern on the upside, so might see a new trend in USDCAD. We can see consolidation or small price correction for a shorter time and then a new long trend. One can initiate the trade after small price correction towards the falling wedge resistance line. If You Like Idea Please Do Follow/Like/Comment For More such Idea. Note - Trade With Proper Risk Management System. Thanks
by Fx_Trader_ViSa