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Chart Analysis: GBP/USD DowntrendGBP/USD is rebounding towards the level of 1.2450 in early Europe on Friday, after testing the level of 1.2400. The GBP/USD pair still maintains its weakness due to the deepening geopolitical tensions, particularly following Israel's attack on Iran. Looking at the chart, we can see that the price is still maintaining below the SMA line, despite the recovery effort, it faces resistance near the SMA 20 line. Furthermore, the Relative Strength Index (RSI) is trading below the 50 level, signaling that the price may continue its downward trend.
by Daisy_Anna
Potential Sharp Decline Looms for EUR/USD as USD StrengthensThe significant recovery of the US Dollar (USD) has interrupted the EUR/USD's rebound process after it reached a peak around 1.0690 on Thursday. This currency pair declined below the 1.0640 level in Friday's Asian trading session. Based on technical analysis, the technical indicators are supporting the downward trend. The price of this pair is gradually recovering; however, it is still constrained by the SMA line. Additionally, the Relative Strength Index (RSI) is trading around the 40 level. If the price drops to this level, there is a possibility of a sharp decline.
by Stephen_Anders
2
"EUR/USD Continues Decline Below 1.0640 Amid Fed CommentsIn Friday's Asian trading session, EUR/USD continued to decline below the 1.0640 level after reaching a peak near 1.0690 on the previous Thursday. Comments from officials at the Federal Reserve (Fed) provided some support for the US Dollar, driving down the EUR/USD pair. On the 4-hour chart, we observe that prices have tested all the SMA lines, indicating that the downward trend is gaining strength. This suggests that selling pressure is increasing in the market and the US Dollar is strengthening significantly against the Euro.
by Daisy_Anna
Gold Shows Signs of Recovery, Targets $2,400 MarkGold experienced a volatile session on Wednesday, dropping to $2,354 in the US trading session. Despite the price decrease, there are signs of a mild recovery. Expectations are high for gold to surpass the $2,400 mark. Based on technical analysis, the price is gradually recovering and heading upwards. If the price continues to rise and surpasses the 60 level, it could be predicted that the price will reach the psychological threshold of $2,400 and continue its upward momentum to the previously established peak of $2,431.
OANDA:XAUUSD
by Stephen_Anders
5
USD/JPY Rebounds: Japan's Intervention Boosts USD/JPYThe strong recovery of the USD/JPY pair is attracting attention, reflecting Japan's intervention to temporarily address the weakness of the Japanese Yen (JPY). Technically, on the chart, the strength of the upward momentum is clearly evident. The Relative Strength Index (RSI) is stabilizing around the 60 level, indicating a significant upward trend of this currency pair. Additionally, the price is gradually adjusting on the Simple Moving Average (SMA), signaling a positive indication of the potential continuation of the upward trend.
by Stephen_Anders
Strong Momentum: Japanese Intervention Boosts USD/JPYThe USD/JPY pair is currently demonstrating a strong upward momentum, attracting significant attention from investors. This increase is driven by momentum from Japan, particularly through interventions by the Japanese government and the Bank of Japan (BoJ). Looking at the chart, we observe that the Relative Strength Index (RSI) is trading above the 60 level, a positive sign indicating that USD/JPY is on a strong upward trajectory. However, investors need to exercise caution and continue monitoring economic conditions and fluctuations in monetary policy to make informed investment decisions.
by Daisy_Anna
GBP/USD Extends Recovery Amid Dollar WeaknessThe GBP/USD is extending its recovery rally towards the 1.2500 level in Thursday morning's European session. This currency pair continues to be supported by the prolonged weakness of the US Dollar along with low-interest rates of US treasury bonds. On the 4-hour chart, we observe that the GBP/USD has crossed above the 20-period Simple Moving Average (SMA), signaling positive signs of price recovery. If prices continue to rise and surpass both the SMA 50 and SMA 100, we can expect a stronger upward movement.
by Daisy_Anna
EUR/USD Seizes Recovery Opportunity Amid Dollar PressureThe EUR/USD currency pair is seizing the opportunity for recovery after a period of sharp decline. This resurgence is being strongly driven by the downward pressure on the US Dollar, opening up a wide door for the Euro to push prices back towards the highs. The target for the EUR/USD pair is the vicinity of the SMA 50 area, close to the 0.5-0.618 Fibonacci level. This marks a significant step in restoring strength and momentum for the Euro, laying the groundwork for further growth phases.
by Stephen_Anders
2
EUR/USD Surges in Asian Trading, Driven by US Dollar WeaknessThe EUR/USD currency pair has surged higher, reaching the level of 1.0672 on Thursday at the start of the Asian trading session. This recovery is being strongly propelled by the downward pressure on the US Dollar, opening up a wide door for the Euro to recover and increase in value. Looking at the chart, we can easily observe the transition from a downtrend to an uptrend. It is predicted that prices will continue to rise and reach the area near the 0.5 - 0.618 Fibonacci retracement level, closely approaching the Simple Moving Average SMA 50.
by Daisy_Anna
Bullish Outlook: GBP/USD Targets Psychological 2.500GBP/USD is holding its latest increase above 1.2450 in the European trading session on Wednesday. On the 1-hour chart, we see a positive signal as GBP/USD has surpassed both the simple moving averages SMA 20 and SMA 50. The prediction is that the price will surpass the SMA 100, which is a sign of a strong uptrend. And the target is aimed at the psychological level of 2.500. Additionally, the Relative Strength Index (RSI) is increasing towards the 60 level, indicating a positive sign of the strength of the upward momentum. This increase could be a sign of further price increase before the market enters the overbought zone.
by Daisy_Anna
Short-Term Outlook: Potential Upside Correction in EUR/USDOverall, EUR/USD is currently reflecting a downward trend due to the strong growth pressure of the US dollar (USD). This pressure has pushed prices down near the 1.0620 level in the early Asian trading session on Wednesday. However, technical analysis suggests that the market may experience a short-term upward correction. The possibility of prices rising to touch the SMA 50 area and approaching the 0.5 - 0.618 Fib zone indicates support for short-term price declines against the strong pressure of the US dollar (USD).
by Stephen_Anders
1
Chart Analysis: Gold's Downward Trend and Potential ReboundGold hit its lowest price of the week at 2,354 USD in Wednesday's US trading session, failing to surpass the 2,400 USD mark. The inability to reach the 2,400 USD milestone has cast uncertainty over Gold's upward momentum, leading to a decline in its price. Looking at the 1-hour chart, we can observe the downward trend of the gold price based on trading below the Simple Moving Averages (SMA). Despite signs of adjustment and recovery, the market remains unstable. Predictions suggest that the price may recover to the SMA 100 level before continuing its sharp decline.
OANDA:XAUUSD
by Daisy_Anna
Technical Analysis: Downtrend in GBP/USDOverall, GBP/USD is still maintaining a downward trend. This currency pair continued to decline during Wednesday's US trading session. Based on technical analysis, the Relative Strength Index (RSI) is currently trading around 40, which is often a sign that prices will continue to decline sharply. In this context, investors need to be cautious and carefully consider their trading decisions, as the downward trend may persist and strengthen in the near future.
by Stephen_Anders
Analyzing Market USD/JPY: Japanese Intervention Risks At the beginning of Wednesday, the USD/JPY pair continued to hover below 155.00, a clear signal of the strength of the Japanese Yen. This stability is primarily supported by underlying risks of impending intervention from Japan. A slight decline in the US Dollar and US Treasury bond yields is also weighing on this currency pair. However, chart analysis reveals that the price is still supported by an upward trend, bolstered by technical indicators such as the Relative Strength Index (RSI) and the Simple Moving Average (SMA). If the price breaks above the defensive level of 155.00, we could witness a strong upward momentum for this currency pair.
by Stephen_Anders
EUR/USD Analysis: Downward Momentum Holds as Dollar (USD) StrenOverall, EUR/USD is still maintaining a downward trend. EUR/USD has dropped to near the 1.0620 level at the beginning of the Asian trading session on Wednesday. This indicates the strength of the US Dollar compared to the Euro in recent times. However, when looking at the technical charts, we can see some positive signals suggesting that the price may be preparing for a corrective phase. It is predicted that the price will test the SMA 20 area before it could bounce back and continue the downward trend.
by Daisy_Anna
Technical Analysis: Gold Market Continues Upward TrendDespite the fluctuations, Gold has maintained a stable upward momentum due to the crisis and political tensions in the Middle East region. Investors continue to bet on the Federal Reserve's interest rate cut in July, currently placing bets at around a 41% likelihood. Based on technical analysis, the upward trend of Gold appears likely to continue. On the 4-hour chart, the price of Gold is supported by the SMA 20 line and technical indicators such as the RSI also show positive signals. This suggests that the Gold market may continue its upward trend in the near future, providing opportunities for investors.
OANDA:XAUUSD
by Stephen_Anders
1
Chart Analysis: Rising Risk of Gold Price DeclineOverall, the price of Gold is still maintaining its upward momentum. In the Asian trading session on Tuesday, the price of gold continued to rise below the $2,400 mark. However, political tensions in the Middle East are gradually easing, and strong economic data from China could potentially slow down the pace of gold's ascent. Looking at the 4-hour chart, we also see an increasing risk of decline. The support level of the Simple Moving Average SMA 20 is currently at $2,356, while longer-term SMAs are indicating a loss of some upward momentum. Predicted that if the price surpasses the SMA 20 level and continues to decline towards the support levels of SMA 50 and SMA 100, there is a possibility that the price of gold will start a significant downward trend.
OANDA:XAUUSD
by Stephen_Anders
1
Gold Prices Rise on Powell's Remarks Amid Middle East TensionsAt the end of Tuesday's US trading session, the price of gold rose higher by 0.22%, following Federal Reserve Chairman Jerome Powell's hawkish remarks. This provided a favorable momentum for gold's growth amid escalating political tensions between Iran and Israel. Looking at the chart, it's evident that the price of gold is heading towards the target of 2,400 USD. Breaking through this threshold won't just mark a significant milestone but also present an opportunity for gold to surge further, with potential subsequent levels reaching 2,431 USD and 2,450 USD.
OANDA:XAUUSD
by Daisy_Anna