Hello all traders! Overall, a lackluster start to the week saw the EUR/USD pair extend its decline, falling below the 1.0900 mark and recording a fresh two-month low near the key 34-day Simple Moving Average (EMA). As such, the US Dollar (USD) continued its rally, pushing the US Dollar Index (DXY) to a fresh multi-week high above 103.00 on persistently high risk...
Dear Friends. Today, gold is trading around $2649 and is little changed from the same time yesterday. Accordingly, gold prices have fallen after hitting an intraday high of $2666 on Monday as China's stimulus measures failed to save financial markets and the greenback continued to rise. However, when looking closely at the 2-hour chart, the technical picture is...
Hello dear friends! As we predicted, GBP/USD fluctuated and fell sharply until 1.302 and completed the sell target as mentioned earlier. However, the price quickly reversed and stabilized around 1.306. The upside momentum of GBP/USD may be limited by the sustained strength of the US dollar, due to the geopolitical risks looming around the world and concerns...
Hello traders! Today, EUR/USD continued its downtrend for the fourth consecutive session, hovering around 1.0920 during Asian trading hours on Monday. The Euro faced downward pressure as the European Central Bank prepares for its monetary policy decision on Thursday. Looking at the technical chart, the pair remains in a downtrend, but selling pressure has...
Dear traders, Conan here! Today, gold is in a strong uptrend after all the attempts of the bears failed to reclaim the $2600 level, the price has started to increase and is currently at $2650. The increase is mainly due to the 80% chance that the Fed will tend to cut interest rates by 25 basis points in November, while there is a 20% chance that interest rates...
With positive signals from the breakout of the downtrend channel and the support of the EMAs, gold (XAUUSD) is showing a great opportunity for investors. If the price continues to hold above the $2,636 zone and breaks out above the $2,665 level, we can expect a strong rally to $2,680 and beyond. Trading recommendation: Investors can consider buying orders when...
Dear friends, XAUUSD continues to gain some recovery momentum as it has reclaimed 2600, but the main trend and the long-term trend are still moving sideways. Currently, the price is approaching the psychological level of 2650 and at the same time is approaching the limits of the Bollinger Bands. A downside correction is expected when the pair reaches the level,...
The September Fed meeting minutes showed a dovish stance on monetary policy, pushing the USD higher and forcing EUR/USD lower. In response to the above information, the price slid to the support level of 1.0950 and the EMA 34 - 89 is maintaining a steady downtrend, indicating that the sellers are still dominant. That is why I set my target at the round level of...
Hello everyone! EURUSD is currently following my previous prediction as it is in a deep decline, hovering at 1.098 and breaking out of the support level of 1.101. With 3 deep declines and breaking out of 3 support levels, sellers continue to profit. Therefore, I expect it to continue moving down at least to the lower price channel, as indicated by the flat EMA...
Hi everyone! The global gold price continues its downward spiral today, extending its decline from the peak of $2,670 per ounce and at times dropping close to the $2,600 mark. This marks the sixth consecutive day of losses for the yellow metal, with the primary reason being the strong rally of the US dollar. The US Dollar Index has now hit its highest point in...
Hello everyone! Today, gold is showing a clear downtrend. Especially after breaking through the key support level at $2630, the downward trend has become even more pronounced. This decline is further confirmed as gold continues to trade below the EMA 34-89 moving averages and remains confined within a parallel descending channel (2625 - 2645), signaling that...
At the start of Tuesday’s trading session, gold (XAUUSD) is hovering around $2,646, with a modest increase of 0.17% on the day. However, the precious metal lacks strong momentum, as the U.S. jobs report exceeded expectations, dampening hopes of a significant rate cut by the Federal Reserve. This has driven up U.S. Treasury yields and strengthened the USD, putting...
Gold prices continued to fall slightly this morning, and I couldn't help but notice the impact of the tension in the Middle East. Gold has always been considered a safe investment channel when world politics fluctuate, and since the beginning of 2024, the price has increased by more than 28%. This is not accidental, but largely due to concerns about escalating...
Currently, XAUUSD is hovering around the 2662 USD mark, and it seems that the price has remained relatively stable over the past few days. On the other hand, the resistance level at 2670 is acting as a significant barrier to upward momentum. Interestingly, XAUUSD is forming a green candlestick right above the parallel wedge. If this candle closes above the wedge,...
Hello everyone, Gold prices today continue to slide, dropping to $2,642, down 0.6% on the day. This decline is largely driven by the U.S. Dollar (USD) extending its strong recovery, after hitting its lowest point since July 2023, now reaching its highest level in three weeks. This comes amid fading expectations of the Federal Reserve (Fed) implementing further...
Hello everyone, GBP/USD turned bearish on Tuesday, falling nearly 1% in European trading on Wednesday. The pair faced fresh supply after BoE Governor Andrew Bailey said the central bank could become “more proactive” in cutting interest rates if inflation eases. Risk-off sentiment due to Middle East concerns also weighed on the pair, while technical indicators...
Dear Investors, Today, let's dive into the EURUSD pair analysis with Conan! In recent days, EURUSD has not had many big fluctuations, but still maintains the trend of finding new bottoms through red candles. Technically, the double top pattern has been confirmed and the price has broken the 1.1100 level, opening the possibility of a deeper decline. However, to...
EUR/USD fell 0.6% on Tuesday and I saw a slight recovery from 1.1050. Geopolitical tensions coupled with weak economic data have reduced risk appetite, which has supported the US Dollar and pushed Fiber to its lowest level in nearly a month.